PBOC vows to use monetary tools including RRR cut to support economy
Chinese central bank vowed to flexibly use monetary tools, including lowering banks’ reserve requirement ratio to step up financial support to the real economy as …
POLICY & REGULATION
Nanjing to relax rules on home pre-sales proceeds to ease property developers’ liquidity stress
The city of Nanjing, capital of East China’s Jiangsu province, plans to relax rules on property developers’ pre-sales proceeds in a move to ease the …
Chinese Premier signals reserve ratio cut, encourages large banks to lower provision coverage to support economy
Chinese Premier Li Keqiang on Wednesday signals bank reserve ratio cut, encourage large banks to lower provision coverage ratio, vowed to roll out measures to …
China’s local government bond sales accelerated significantly this year, scope of projects for the bonds further expanded
China accelerated issuance of local government special-purpose bonds and further expanded the scope of projects eligible for the bonds, in a bid to boost investment …
China grants first licenses to online games after eight-month freeze, industry insiders say days to remain tough
China resumed granting publishing licenses to new online games on Monday, ending a nine-month long freeze that has dealt a blow to the struggling sector, …
China’s top securities regulator urge long-term investors to buy back stocks, vows to support financing by Covid-hit private companies
China’s top securities regulator calls on long-term investors to purchase more stocks and major shareholders of listed companies to increase holdings when stocks slump, in …
China vows to control new capacity in oil refining industry, steadily control exports of some high carbon petrochemical products
China’s Ministry of Industry and Information Technology released a set of guidelines for the development of the country’s petrochemical industry, introducing a slew of measures …
China unveils draft law on financial stability to prevent systemic risks, to set up financial stability protection fund
China on Wednesday unveiled a draft law on financial stability, including the setup of a financial stability protection fund, in a move to prevent systemic …
Quzhou becomes first Chinese city to relax restrictions on both home purchases, resales
Quzhou in East China’s Zhejiang province has become the first Chinese city to relax restrictions on both home purchases and home resales, as local governments …
China revised key rules for offshore listings, remove hurdle for audit cooperation with US
China proposed changes to its confidentiality rules involving offshore listings, removing a legal hurdle to the cooperation with the US on audit oversight, in an …
China to expand digital yuan pilot to more cities
China will further expand a pilot scheme of its sovereign digital currency to more cities including Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen and six cities in …
China vows to prepare to greater uncertainties, analysts expect PBOC to accelerate policy easing
Chinese authority vowed to prepare for greater uncertainties and roll out policies to stabilise the economy as soon as possible. Analysts say the central bank …
Chinese property developers rally as more regions ease property curbs
Shares of Chinese property developers staged a strong rally on Wednesday amid improving market sentiments as more regions ease property curbs. An index tracking mainland-listed …
China to promote renewable energy projects, aims to increase share of non-fossil energy to 17.3% in 2022
China plans to increase its energy supply in 2022 by approving high-quality coal mines with advanced production capacity, and promote construction of wind, solar, hydro …
China’s financial hub Shanghai announces relief package to help businesses survive Covid-19 outbreak, phased lockdown
China’s financial hub of Shanghai announced a package of measures including cutting taxes and waiving rents for small and individual-run businesses to help businesses survive …
Chinese regulators express concerns over surging prices of power battery materials as battery producers, EV makers scramble to hike prices
Prices of key materials for electric vehicle batteries such as lithium have been surging since the second half of last year, forced battery producers and …
China’s coal power capacity to grow further by average 3% per year by 2025 – industry association
China’s installed capacity of coal powe is expected to grow further in the 14th Five-Year Period (2021 – 2025) and coal-fired power will continue to …
China calls for all-out effort to guarantee summer wheat harvest and expand soybean farming to ensure food supply, announces a package of subsidies
China is telling local authorities to make “all-out effort” to guarantee the harvest of summer wheat and expand the plantation of soybeans “by all means”, …
China welcomes US tariff exemptions, urges US to remove all punitive tariffs as soon as possible
China has welcomed the US’s decision to reinstate tariff exemptions on more than 350 Chinese goods, while urges for all Trump-era duties to be lifted …
China set targets for hydrogen development for first time, aims to produce up to 200,000 tonnes green hydrogen by 2025
China sets targets and timetable for the hydrogen industry’s development for the first time, aiming to make hydrogen play an important role in the country’s …
Chinese regulators pledge to ensure lithium supply and stabilize prices after lithium surges over 70% so far this year
Chinese regulators pledge to ensure the supply and stabilize the prices of lithium, the key metal used in the batteries that power electric vehicles, after the prices jumped nearly …
Chinese property developers rally after top regulators sent positive signals, some doubt sustainability given continued troubles
Chinese property developers rallied for a second straight day on Thursday, with many homebuilders skyrocketing by more than 40%, after the country’s top regulators threw …
China’s top financial regulator vows to stabilize economy and capital market, sending stocks soaring
China’s top financial stability regulators pledged on Wednesday to take measures to maintain stability of its economy and the capital markets and shore up economic …
PBOC unexpectedly keeps some policy rate unchanged, dashing hopes of rate cut
China’s central bank unexpectedly kept some of its policy rates unchanged on Tuesday, though many believe the authorities will resume monetary easing soon to support …
Premier Li’s comments on GDP growth target, tax cuts, China-US communications, “common prosperity”
It’s not easy for an economy as big as China’s to achieve a GDP growth target of around 5.5%, which means stability at a higher …
US SEC publishes list of five firms for possible delisting, CSRC voices opposition against politicizing securities supervision
The US Securities and Exchange Commission (SEC) on Thursday published a provisional list of five US-listed companies including Yum China, BeiGene, Zai Lab, HUTCHMED and …
PBOC to hand in 1 trillion yuan profits to central government this year to stabilize economic growth
The Chinese central bank is set to hand in more than 1 trillion yuan ($158.3 billion) of its profits to the central government this year, …
China to ensure energy security amid external challengers, impacts of Russia-Ukraine conflicts controllable – state planner NDRC
China is capable of ensure domestic energy supply despite increasing external challenges as it will step up production capacity and boost reserves to keep prices …
China set 2022 GDP growth target at “around 5.5%”
China announced a GDP growth target of “around 5.5%” for 2022, said Chinese Premier Li Keqiang1 at the opening of the annual meeting of parliament …
Chinese regulators summoned major rare earth producers, vowed to bring prices to reasonable levels
Chinese regulator summoned the country’s major rare earth producers on Thursday to have discussions about the surging prices of the critical resources. According to a …
China’s global share of bitcoin trading slashed to 10% from 90% before Beijing crackdown – PBOC
China’s central bank said the country’s share of global bitcoin trading has been slashed to 10% from the peak of more than 90% before Beijing’s …
Analysts divided on China’s 2022 GDP growth target, many expect “around 5.5%” as “two sessions” approach
China is set to kick off its annual “two sessions” of the National People’s Congress (NPC), the top legislative body, and the Chinese People’s Political …
China not to join sanctions on Russia; property bubbles and excessive financialization of housing curbed – banking regulator
China will not join in sanctions on Russia that have been led by the West, the country’s banking regulator said on Wednesday, adding that he …
China to announce third batch of regions for digital yuan pilot
China’s third batch of pilot regions for trials of the digital yuan will be unveiled soon, with Fuzhou, Xiamen and Hangzhou cities expected to be …
Zhengzhou becomes first Chinese city to announce comprehensive relaxation of property curbs
The city of Zhengzhou, capital of central China’s Henan province, has announced a comprehensive package to relax real estate curbs, including easing restrictions on second-home …
China warns of challenges of stabilizing consumption this year, huge pressure on foreign trade
China’s consumption recovered in 2021, becoming the top engine for the economic growth, but downward pressure has been rising since the fourth quarter of last …
China’s state planner vowed again to step up regulation on iron ore market, futures fell 15% in Feb.
China’s top economic planner reiterated on Monday that it will step up daily supervision of spot and futures markets for iron ore in a bid …
Several Chinese provinces to electricity prices for crypto mining to accelerate elimination
Several Chinese provinces pledged to increase electricity prices for cryptocurrency mining activities to accelerate the elimination of remaining mining companies. The economic planner of Eastern …
China said it’s fully open to wheat-imports from Russia amid Ukraine crisis, yuan increasingly used for China-Russia trade settlements
China said it’s fully open to wheat imports from Russia, in the latest sign of their strengthening bilateral ties as western countries are imposing sanctions …
China’s state planner set benchmark price range for thermal coal to stabilize market
China’s state planner has set a “reasonable” price range for thermal coal for medium- and long-term trading to prevent excess price volatility. The National Development …
China vows to boost soybean, oilseeds production, to advance rural vitalization
China pledges to take a series of measures to boost production of grain and other vital agricultural products such as soybean and oilseeds and to …
China to scale up tax cuts in 2022, to step up transfer payment to local governments
China will scale up tax and fee cuts in 2022 on top of 1.1 trillion yuan ($174 billion) of cuts last year and will increase …
China approved another three large coal mines with total 24 billion yuan investment
The National Development and Reform Commission (NDRC), China’s top economic planner, has approved construction of three large-sized coal mines with a total annual production capacity …
China to build national data center clusters to speed up east-to-west computing resource transfer project
The National Development and Reform Commission (NDRC), China’s top economic planner, along with other government departments, recently kicked off the construction of eight national computing …
China to guide food delivery platforms to cut service fees, issue package to spur faster recovery of pandemic-hit services sectors
China issued a package of measures to spur a faster recovery from the COVID-19 pandemic in the services sector, including guiding online platforms to lower …
Heze becomes first Chinese city to see large banks cut down payment requirement in this round of housing market easing
Large Chinese state banks’ branches in the city of Heze, in eastern China’s Shandong province, have lowered the minimum down payment ratio for home buyers …
Chinese regulators summoned top traders about rising iron ore prices, urged trading firms to cut inventories
Chinese authority has asked some iron ore trading companies to release “excessively high” inventory and bring the stocks to reasonable levels as soon as possible, …
China’s coal production hub Inner Mongolia to build a batch of large modern coal mines by 2025
China’s coal production hub Inner Mongolia aims to build a batch of large-sized modern coal mines and increase concentration of the coal industry by 2025, …
China’s land market cooled significantly in 2021, several regions saw double-digit declines in land sales, most set lower target for 2022
China’s land market has cooled sharply since the second half of 2021 amid property developers’ liquidity crunch and tightened regulations. A widening divergence is seen …
China’s new bank loans to real estate sector picked up significantly in January
China’s new bank loans to the struggling real estate sector increased significantly from the previous months after the authority pledged to meet property developers’ reasonable …
Chinese local governments set lower fiscal revenue target in 2022 amid slowing economy
Most Chinese provinces set a lower growth target for fiscal revenue in 2022 due to Covid-19 outbreaks, the slowing economy, high comparison base and new …
Chinese regulators vow to curb speculation as iron ore prices climb again after volatile 2021
Chinese regulators pledged to curb speculation in iron ore after the prices of the steel-making material climb again following a volatile year of 2021. The …
China aims to advance financial standardization by 2025, to establish standards for digital currency
Chinese regulators outlined plans to establish sweeping new standards for the financial industry by 2025, covering digital currency, cross-border yuan settlements, green finance and fintech. …
China’s thermal coal futures surged over 15% in two days, prompting regulator warnings and margin requirement hike
China’s thermal coal futures surged after the Spring Festival holiday, prompting the regulators to send warnings and the exchange to hike margin requirement. In the …
China to give steel sector more time to achieve carbon-peaking target
Chinese government will give more time to the country’s steel sector to achieve carbon-peaking target in a bid to avoid campaign-style carbon reduction and excessive …
China eyes high-quality development for steel sector by 2025, to encourage M&As by leading mills to build world-class conglomerates
China has issued a guideline to encourage its leading steelmakers to carry out mergers and acquisitions, boost industry concentration and raise endogenous power, in order …
Chinese local governments issued nearly 700 billion yuan bonds in January, coupon rates lowered for more developed regions
Chinese local governments issued much more bonds in January than last year as top policymakers called for front-loaded efforts to boost investment and stabilize economic …
China to front-load infrastructure investment, CPI growth to remain mild in 2022, factory-gate inflation to ease, said state planner NDRC
Stocks of Chinese infrastructure construction companies, cement makers, steelmakers, and construction machinery manufacturers soared on the first trading day after the week-long Spring Festival holiday …
Xiamen city prepares for property tax pilot to guard against major fluctuations
The city of Xiamen, in southeastern China’s Fujian province, is preparing for the launch of a pilot property tax as part of efforts to guard …