China’s Ministry of Finance said on Monday that the next step is to implement the fiscal subsidy policy for the NEV industry to promote its high-quality development. While Forbes on Monday claimed …
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China’s banking sector ratchets up support to boost economy
As the fallout of COVID-19 continues to weigh on the world’s second-largest economy, China’s banking sector has ratcheted up support measures to boost the economy, channeling funds to where they are …
Cash crisis amid China’s stalling economy: rural banks freeze accounts, regulators playing ‘pass the parcel’
Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, sparking protests in the provincial capital city of Zhengzhou President Xi Jinping has placed …
China leverages fiscal policies to spur decarbonization
China’s Finance Ministry unveiled a guideline on Monday further leveraging the role of fiscal policies to achieve the country’s carbon peaking and carbon neutrality goals. By 2030, a fiscal and …
Economic Watch: China’s banking sector ratchets up support to boost economy
As the fallout of COVID-19 continues to weigh on the world’s second-largest economy, China’s banking sector has ratcheted up support measures to boost the economy, channeling funds to where they are …
China Will Airdrop $13.5M of eCNY to Stimulate Economic Demand After Lockdown
China will give out over $13.51 million to residents of various areas in an attempt to boost local consumption.
Beijing Sets Sights on Becoming Global Wealth Management Hub by 2025
Beijing will greatly increase access by international investors to its capital markets over the next three years as China’s capital city transforms itself into a global wealth management center of …
Finance Minister to monitor China lockdown impact
Finance Minister Sri Mulyani Indrawati has said that she will monitor the zero-COVID policy imposed by China in response to the rampant spread of the virus in …
China Allots Next Year’s USD59.7 Billion of Special Funds to Local Gov’ts in Advance
China will allocate in advance next year’s budgetary funds worth CNY400 billion (USD59.7 billion) to ease the burden on local authorities. The move aims to help make up for lower local government …
The week in review: China launches ETF Connect, expands Bond Connect
Industrial profits in China dropped 8.5% year-on-year in April, according to the National Bureau of Statistics. For the first four months of 2022, industrial profits totalled Rmb2.658tr ($397bn), up 3 …
Oil prices: Brent crude tops $120 a barrel as China eases COVID curbs
Oil prices rose on Monday as China eased pandemic measures after nearly three months of lockdowns and traders anticipate a deal to limit Russian oil imports into the European Union. Over the …
Talking China down will again fall flat
Badmouthing China is not something new, and China’s economy is indeed facing a lot of downward pressure due to factors like the COVID-19 epidemic. But objectively speaking, these pessimistic opinions …
FX at one-month high on weaker dollar, China reopening hopes
The Chinese yuan rose to 6.6485, hitting a one-week high against the dollar, while the blue-chip CSI300 and Hong Kong stock indexes gained 0.7% and 2%, respective …