In a recent interview with China Perspectives, Yao Yang, director of the China Center for Economic Research at Peking University, stated that the central-local relationship is particularly important for (fiscal and) tax reform. —”The central government probably has to take more expenditure responsibility, particularly in pension and health care,” he said.
Tag: economic
Mitsubishi to join Honda-Nissan alliance
A Mitsubishi Motors sign is pictured next to a Mitsubishi Motors electric car at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. [Photo/Agencies] Japan’s Mitsubishi Motors is set to join an alliance between Honda Motor and Nissan Motor, according to the Nikkei newspaper. The move will create a tie-up between automakers with combined … Continue reading Mitsubishi to join Honda-Nissan alliance
Big banks cut deposit rates to strengthen sector stability
This file photo shows a worker counting Chinese currency at a bank in Lianyungang, East China’s Jiangsu province. [Photo/Xinhua] Several major Chinese commercial banks cut deposit rates on Thursday, signaling a new round of deposit rate cuts that could pave the way for further reductions in policy benchmarks of lending rates to bolster economic growth, … Continue reading Big banks cut deposit rates to strengthen sector stability
Green development boosted by efforts from Qilu Bank
Recently, the 2024 Shandong “Haopin Financial” list was officially released, and the “Low Carbon Benefit Loan” product submitted by Qilu Bank was selected for the list of excellent green financial products. The aim of this event is to focus on the five major areas of financial technology, green finance, inclusive finance, pension finance and digital … Continue reading Green development boosted by efforts from Qilu Bank
Patient capital more essential and appropriate for China
CAI MENG/CHINA DAILY The nation’s top leadership vowed to “actively develop venture capital investment and strengthen patient capital” at a meeting of the Political Bureau of the Communist Party of China Central Committee on April 30. The financial term “patient capital”, or capital that focuses on long-term investment, has attracted widespread attention. Compared with short-term … Continue reading Patient capital more essential and appropriate for China
Experts slam ‘overcapacity’ talk
Employees work at an auto production facility in Jinhua, Zhejiang province, in April. [HU XIAOFEI/FOR CHINA DAILY] BEIJING — China’s booming new energy vehicle sector recently drew scrutiny for purported “Chinese overcapacity” from certain Western nations. To provide clarity on the industry’s landscape to a global audience, three government officials and an industry expert joined … Continue reading Experts slam ‘overcapacity’ talk
Shanghai tech companies essential to economic development
The press conference about Shanghai’s high-quality economic development was held on Wednesday. [Photo provided to chinadaily.com.cn] Technology innovation has been one major highlight of Shanghai’s high-quality economic development, embracing approximately 370 newly registered technology companies every day in 2023, according to local officials. The data was released by Qu Wei, deputy director of the Science … Continue reading Shanghai tech companies essential to economic development
Risk appetite strengthens upbeat mood
A billboard in Shanghai shows the level of the Shanghai Composite Index. [Photo/VCG] Upbeat sentiment marks the A-share market as investors’ risk appetite has further recovered amid the recently introduced stimulative policies and improving macroeconomic indicators, said experts. On Monday, the benchmark Shanghai Composite Index added 0.54 percent to close at 3171.15 points, its highest … Continue reading Risk appetite strengthens upbeat mood
Swiss Re bullish about insurance market’s prospects in nation
A view of the booth of Swiss Re during an expo in Shanghai. [Photo/China Daily] China’s insurance sector is expected to double in size in the coming decade amid robust economic growth, making the country a more significant market for Swiss Re, the top executive of the global reinsurance company said. Despite concerns raised over … Continue reading Swiss Re bullish about insurance market’s prospects in nation
Swiss Re bullish about insurance market’s prospects in nation
A view of the booth of Swiss Re during an expo in Shanghai. [Photo/China Daily] China’s insurance sector is expected to double in size in the coming decade amid robust economic growth, making the country a more significant market for Swiss Re, the top executive of the global reinsurance company said. Despite concerns raised over … Continue reading Swiss Re bullish about insurance market’s prospects in nation