Chinese Premier Li Qiang has warned local governments not to target private companies with unfair fines and promised further measures to improve the business environment next year. The pledge – made at a meeting of the State Council, China’s cabinet, on Monday – follows accusations that some local authorities have been trying to raise extra … Read more
China is overhauling its vocational education courses to expand the pool of hi-tech workers for strategic sectors. The Ministry of Education unveiled 40 new vocational majors on Thursday – more than half of them in advanced manufacturing and digital technology – to promote a digital, marine, and low-altitude economy, according to state broadcaster CCTV. The … Read more
China has announced an action plan to reduce food loss and waste. It came days after President Xi Jinping delivered a speech at the Group of 20 summit in Brazil, declaring that China was joining the Global Alliance Against Hunger and Poverty and would remain a committed host of the International Conference on Food Loss … Read more
China’s draft legislation to promote the private economy needs urgent refinements, including penalties for law-enforcement agencies overstepping their authority and infringing on the rights of businesses, a former State Council official has said. Former deputy director of the industry, commerce and trade research department Chen Yongjie pointed out that entrepreneurs felt that clauses in the … Read more
China’s data agency has announced an ambitious plan to develop a national digital infrastructure by 2029 to manage data as a key resource. According to draft guidelines released by the National Data Administration on Friday, the growth of the digital economy has increased demand for “better data circulation, usage and value extraction”, highlighting the need … Read more
The status of the private sector should be raised under China’s private economy promotion law, a leading economist said amid widespread disappointment about a draft of the law that is out for public comment until November 8. The introduction of the first basic law regarding the development of the private sector is a “milestone” event, … Read more
The 41-year-old had lost around 80 per cent of the 2 million yuan (US$283,000) she invested over a decade. This week she was among the hundreds of millions of Chinese rushing back to the market on a wave of optimism after the government announced new measures to revive the economy. “I think the top leadership … Read more
Premier Li Qiang called on China to explore and introduce incremental policies that are “tangible, effective and accessible to both the public and businesses”, as increasing external headwinds and prolonged weak domestic demand are creating challenges to the annual economic growth target. Analysts said Beijing was likely to opt for an expanding fiscal policy for … Read more
State broadcaster CCTV reported on Tuesday that the State Council, China’s cabinet, had set up an investigative team involving several government bodies to tackle the matter. Planning body the National Development and Reform Commission, the ministries of public security and transport, the state administrations of market regulation and grain and reserves, and other departments will … Read more
The third plenum of the Central Committee of China’s Communist Party, scheduled for next month, is expected to set the tone for the country’s economic policy for the next several years. In advance of that meeting, the Post is reviewing the work of notable scholars and observers about their own expectations – as well as … Read more
