POLICY & REGULATION
China to step up regulation on real estate brokerages, urges for lower service fees
China will step up regulation on real estate brokerage services, according to a notice jointly issued by eight government departments including the Ministry of Housing and Urban-Rural Development and the State Administration for Market Regulation on Monday.
Recovering, expanding demand is key to sustained economic growth – China’s top leadership
Recovering and expanding demand is the key to the sustained and positive economic growth, said the Politburo, the top decision-making body of China’s Communist Party, …
Chinese semiconductor companies continue to rally after official vowed more efforts to support the sector
Shares of Chinese semiconductor companies rallied in the A-share market on Friday, with Empyrean Technology surging as much as nearly 10% before closing the morning …
China urges Australia to provide non-discriminatory environment for Chinese firms
Australia’s discriminatory restrictions on TikTok are not conducive to safeguarding Australia’s national security, but will instead damage the international community’s confidence in Australia’s business environment …
PBOC cut banks’ reserve requirement ratio to support economic recovery
China will cut the amount of cash that banks must hold as reserves for the first time this year to help keep liquidity ample and support the economic recovery after the pandemic.
Rare earth hub Jiangxi to step up crackdown on illegal mining of strategic minerals
East China’s Jiangxi province, a major rare-earths production base, will step up crackdown on illegal mining of strategic minerals such as lithium and rare earths in a special action that will run through the end of Oct 2023.
Chinese President Xi calls for “Great Wall of Steel” to safeguard security
Chinese President Xi Jinping said that China needs security to develop and must modernise its military to make it a “Great Wall of Steel”, calling …
China needs to maker greater efforts to achieve growth target, leadership always supports private economy – Premier Li Qiang
China’s economic growth target for this year has been set at “around 5%” after taking into account various factors, said Chinese Premier Li Qiang. “Our …
China open to visit by US Secretary of Commerce Gina Raimondo – China’s commerce ministry
China is “open” to a visit by US Secretary of Commerce Gina Raimondo as it remains “very important” for the two sides to maintain communication over trade, China’s Ministry of Commerce said on Wednesday.
Central China’s Hubei province offers up to 90,000 yuan discount on purchases of Dongfeng vehicles
Authorities in central China’s Hubei province offers as much as 90,000 yuan discounts on cars purchased from Dongfeng Honda Automobile, according to promotional leaflets at car dealerships.
China’s proposed enlarged financial regulator will better tackle lingering issues – analysts
China’s proposed National Financial Regulatory Commission will better tackle lingering issues that threaten to destabilise the economy, ranging from a housing bubble to the unbridled expansion of financial conglomerates, said Goldman Sachs in a research note.
China confident in real estate market recovery, to prevent “gray rhinos” in real estate sector – housing minister
Ni Hong, China’s Minister of Housing and Urban-Rural Development, expressed confidence in the recovery of the country’s real estate market.
China to set up enlarged financial regulator, restructure science & technology ministry, establish national data bureau
China on Tuesday unveiled a sweeping reform plan for a slew of state institutions, including restructuring the Ministry of Science and Technology (MST) and establishing a national financial regulatory administration, part of the country’s efforts to bolster its scientific-technology capabilities and economic and financial security amid growing external uncertainties.
China pushes for revision of Anti-Unfair Competition Law – official
Chinese regulator is pushing forward the revision of the “Anti-Unfair Competition Law ” after revising the “Anti-Monopoly Law” last year, said Luo Wen, Head of the State Administration for Market Regulation, at a press conference on Tuesday.
China plans to phase in standard mapping system serving self-driving vehicles by 2025
China plans to phase in a standard mapping system serving the application of self-driving vehicles by 2025, according to a guideline released by the Ministry of Natural Resources.
US imports of Chinese solar panels pick up after months of gridlocks – report
US imports of China’s solar panels are picking up after months of gridlock stemming from implementation of a new law banning goods made with forced labor, according to two Chinese solar companies.
Chinese President Xi vows to safeguard private sector’s property rights, support high-end manufacturing
Chinese President Xi Jinping said that China should safeguard the property rights of private-owned enterprises and the rights and interests of entrepreneurs according to the law.
Mark Mobius said money withdrawal problem in China resolved, SAFE stressed no change to cross-border remittance policy
Billionaire investor Mark Mobius said the money withdrawal problem in China appears to have been resolved, responding to inquiries from local newspapers, but declined to give further details.
China’s “around 5%” growth target in line with economic trend – state planner NDRC
China’s “around 5%” economic growth target for 2023 is in line with the trend of economic operation, said Zhao Chenxi, deputy head of the top …
China step up macro policy coordination to upleash potential of consumer spending, to prudently resolve risks in real estate, financial, local government debts – state planner NDRC
China will step up macro policy adjustments and strengthen coordination of various policies, said Zhao Chenxin, Deputy Director of the National Development and Reform Commission, at a press conference on Monday.
China to step up efforts to ensure enegy supply, to guide coal prices within reasonable range – state planner NDRC
China will strengthen monitoring of changes in key international and domestic commodity markets and important consumer goods markets, increase the supply of important consumer goods and stablize prices.
Chinese authorities kick off special safety production rectification for open-pit coal mines
China’s National Mine Safety Supervision Bureau kicked off special safety production rectification for open-pit mines that are in normal production, under construction, and planning to …
Hong Kong Stock Exchange to lower listing threshold for special technology companies – report
The Hong Kong Exchanges and Clearing plans to lower the proposed listing threshold for Specialist Technology Companies, local newspaper South China Morning Post reported citing people with the knowledge of the matter, in a move to keep the city’s attractiveness as IPO destination.
Chinese telecommunication equipment companies rally after industry minister vowed to accelerate 6G development
Jin Zhuanglong, China’s Minister of Industry and Information Technology, said China has built the world’s largest and most advanced 5G network, with more than 575 …
Chinese aerospace, defence stocks rally as government plans to boost defence spending by 7.2% this year
Chinese aerospace and defence stocks rally on Monday, with an index tracking the sector compiled by Wind Information up 1.3% as of 9:49 am, making …
Participation in Wealth Management Connect undesirable, regulators consider scheme expansion – SFC chairman
The Cross-Border Wealth Management Connect, launched for more than a year, has been running largely steadily, although the participation level of the scheme has been undesirable amid pandemic.
China set 2023 GDP growth target at “around 5%”
China set a modest target for economic growth this year of around 5%, according to a government work report on Sunday, as the National People’s Congress (NPC) kicked-off its annual parliamentary session.
Chinese Vice Premier Liu He met IC companies, stressing mobilizing national resources for IC development
Chinese Vice Premier Liu He visited integrated circuit companies and chaired a symposium with them on Thursday, emphasizing the importance of mobilizing nationwide resources in the industry’s development, and vowing to provide “real national treatment” to foreign experts.
China’s foreign trade faces rising pressure, external environment challenging – commerce ministry
Pressure on China’s imports and exports will increase significantly this year, said Wang Wentao, commerce minister, at a news conference on Thursday. The risk of …
China’s Foreign Minister Qin Gang met with Australia Foreign ministry Penny Wong
China’s Foreign Minister Qin Gang met with Australian Foreign Minister Penny Wong on March 2 during the G20 foreign ministers’ meeting in New Delhi.
China to introduce new policies to support NEV consumption – commerce ministry
China will actively introduce new policies and measures to support the consumption of new energy vehicles, said Wang Wentao, Minister of Commerce. For example, the …
Shenzhen lures Hong Kong tourists to use digital yuan with shopping discounts
China is hoping to drive cross-border use of its sovereign digital currency by offering shopping discounts to tourists from Hong Kong who open and pay …
HKEX considers lowering listing valuation requirement for specialised tech firms – report
The Hong Kong Exchanges and Clearing is adjusting some of the consultation advice content, including potentially lowering the valuation requirement for commercialized and non-commercialized Specialist …
Kuaishou applied for yuan counter to support Hon Kong dollar-yuan dual counter model
Chinese short video platform Kuaishou Technology said it has submitted an application for an yuan counter to support the new Hong Kong dollar-yuan dual counter …
China’s commerce ministry vows to promote consumption
China’s Ministry of Commerce held a national teleconference on promoting consumption, which is of great significance and responsibility, the ministry said in a statement on Wednesday.
Yunnan province completed second round of aluminium production cut in six months, cumulative cut at 1.9 mln tonnes – report
Yunnan province, a major aluminium production hub in China, has completed the second round of production curbs on electrolytic aluminium companies in six months.
Beijing city to extend subsidies for new energy vehicle purchases
China’s capital city of Beijing will continue to implement the government subsidies for new energy vehicle purchases this year and specific policies will be announced later.
Hong Kong local stocks gain on removal of mask mandate from Mar 1
Local cosmetics retailer Sa Sa International is leading the gains with a rise of more than 4%, followed by 3.8% gain in Bosideng International Holdings and 3% rise in Chinese Estates Holdings.
Hong Kong Chief Executive John Lee said that the mask mandate for all locations will be lifted starting from March 1.
Short video companies fall after regulators vowed to step up efforts to prevent addiction among minors
Chinese short video companies are falling in Hong Kong, with Bilibili down more than 3% and Kuaishou down over 1%.
China released guidelines for construction of “Digital China”
China released guidelines for digital development, unfolding the blueprint and timeline for construction of a”digital China”. Building a “digital China” is an important engine for …
China to resume dialogues with Australia to bring bilateral relations to normal track – foreign ministry
China will resume dialogues and exchanges with Australia, expand cooperation and control differences to boost mutual trust and bring the bilateral relations back to a …
Fitch raised forecast of China’s 2023 economic growth to 5% from 4.1%
Fitch Ratings raised its forecast for China’s economic growth in 2023 to 5%, from 4.1% previously, reflecting evidence that consumption and activity are recovering faster than initially anticipated after the authorities moved away from their “dynamic zero Covid-19” policy stance in late 2022.
