China needs to provide “clear direction and an anchor” during the upcoming third plenum to revive market confidence, while a market mechanism and structural reforms are also required, a senior China economist said ahead of this month’s key conclave. “We’re hopeful that the [upcoming third plenum] document will speak to some of the issues … … Read more
Hotels in China have been told not to turn away foreign guests by using a lack of government-issued credentials as an excuse, according to a newly issued joint department notice. The notice, jointly issued by the Ministry of Public Security, Ministry of Commerce and the National Immigration Administration on Friday, said a lack of “foreign-related … Read more
The traditional field trips came in the lead-up to the party’s third plenary session in July, where its top policymaking body – the Central Committee – will set out the country’s general economic strategy for the next five to 10 years. “The new measures certainly show that the authorities want to put a floor under … Read more
Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40 How mobile payments impact people’s lives in China How mobile payments impact people’s lives in China Tencent on Thursday said foreign … Read more
Chinese vice-premier He Lifeng has called for improvements in the performance and profitability of listed firms, a signal that Beijing wants to see more support for China’s ailing stock market and a boost in confidence along with it. He made the remarks during a nationwide teleconference attended by cadres from all regions on Monday, during … Read more
China’s central bank has agreed that Ant Group’s mobile payment app Alipay has no controller, a crucial step in the fintech giant’s overhaul deemed necessary to put its much-anticipated initial public offering back on track. The billionaire’s share of the voting rights are now divided among Hangzhou Junhan Equity Investment – owned by Ma and … Read more
