China doubled down on its commitment to reducing overcapacity in steel and coal production in 2018, Caixin Global report from Beijing, hoping to cut 30 million metric tons of steel and 150 metric tons of coal. In his annual report given to the legislature, Li also promised to close coal-fired power plants with capacity less […]
Category: Brief
Pony Ma, chief executive of Tencent, the Chinese tech giant which owns WeChat, told reporters yesterday that the app had reached 1 billion user accounts worldwide in February. The Financial Times report from the National People’s Congress in Beijing, to which Ma is acting as one of the 5,000 delegates. A spokesperson for Tencent later […]
China’s National Development and Reform Commission (NDRC) will raise the revenue requirements of local governments looking to build railways, sources told Caixin Global, with the aim of stemming the growth of regional debt. Local authorities will now have to provide data on their fiscal revenue, GDP growth, and debt ratio before the central government approves […]
5,000 of the country’s leading policy makers will convene in Beijing over the next 16 days to formalise the Communist Party’s goals for the coming year, and what direction the country will move in with regards to the economy, environment, education, and other social issues. On the agenda include the confirmation of proposals to remove […]
The Chinese Prime Minister Li Keqiang announced in a statement that China has set a growth target of around 6.5% for 2018, reports Bloomberg. The figure is equal to that of last year, but without the additional objective for growth to be “higher if possible in practice”, reflecting policymakers drive for financial stability. The release comes […]