President Joe Biden also said Xi was “embarrassed” that he was not informed about the Chinese spy balloon conducting surveillance over the US.
FINANCE
China to tread warily on easing as concerns over impact on banks mount
China’s central bank is likely to cut lending rates further in a bid to revive the economy but reluctance among private firms and households to borrow means continued policy easing could end up …
Fierce backlash in Beijing to Biden likening Xi to a dictator comes as he hopes for a thaw
When President Joe Biden referred to his Chinese counterpart as a dictator late Tuesday in California, the response from Beijing was swift and angry. “The remarks seriously contradict basic facts, …
China’s Anti-Corruption Drive Increasingly Focused on Banking Sector
The Chinese government has put those in all positions, high and low, in every industry, especially finance, on notice: The Communist Party of China is serious about ferreting out and prosecuting all …
Biden’s ‘dictator’ reference to Xi is a ‘blatant political provocation’ says China, one day after Blinken visit to Beijing
U.S. Secretary of State Antony Blinken meets with Chinese President Xi Jinping in the Great Hall of the People in Beijing, on June 19, 2023. Leah Millis—Pool Photo via AP China on Wednesday called …
China’s economy is undergoing a structural transition, so don’t expect a massive stimulus package, analyst says
“Willingly or not, China is transitioning away from growth led by property and local government, which is a painful process.” …
China’s next target: Your financial data
As spy balloons soar over Midwest neighborhoods and intrusive apps such as TikTok send terabytes of personal data to servers in mainland China, Beijing is making known its hunger for America’s most …
China unveils $72 bln tax break for EVs, other green cars to spur demand
China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to…
China Begins Nationwide Push to Reveal Hidden Government Debt
China has begun a fresh round of nationwide inspections to work out how much money local governments’ owe, according to people familiar with the matter, a sign that authorities are preparing to take …
UN climate talks: ‘lack of trust’, funding stymie progress between China-backed nations and West
Negotiations in Bonn were dominated by arguments over who should be responsible for financing a ‘just transition’ to a clean energy-powered economy.
2nd LD-Writethru-Economic Watch: China extends preferential purchase tax policy for NEVs
China will extend its preferential purchase tax policy for new energy vehicles (NEVs) to the end of 2027 as part of the efforts to continue to support the industry, Chinese authorities have said.
China Rolls out $72 Billion in Tax Breaks for New-Energy Vehicles Over Next Four Years
By Bingyan Wang China on Wednesday unveiled a $72 billion package of tax breaks aimed at boosting the purchase of electric vehicles over the next four …
China Extends EV Tax Breaks For 4 More Years: What This Means For Tesla, BYD, Nio And Others
China imposes a standard purchase tax rate of 10% on vehicles. According to a report, Xu Hongcai, Vice Minister of Finance, stated at a press conference that the vehicle purchase tax exemptions will …
