China’s Ministry of Finance (MOF) is set to establish a dedicated department to oversee government debt, elevating the management as a multi-year campaign to defuse local government debt risk enters a critical phase, reports Caixin. The new debt department will be created by converting the ministry’s existing policy research department, sources close to the ministry […]
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China launches new tech talent visa
China’s new visa programme aimed at attracting foreign tech talent kicks off this week, a move seen boosting Beijing’s fortunes in its geopolitical rivalry with Washington as a new US visa policy prompts would-be applicants to scramble for alternatives, reports Reuters. While China has no shortage of skilled local engineers, the programme is part of […]
Donald Trump’s administration has tightened export controls on Chinese companies to make it harder to circumvent existing rules designed to slow China’s ability to develop advanced semiconductors, reports the Financial Times. The US commerce department on Monday said subsidiaries of groups named on the government’s “entity list,” a compilation of foreign entities and individuals subject […]
China announced it’s offering RMB 500 billion ($70 billion) worth of capital to spur investment, in a long-anticipated move to boost growth after provinces likely diverted funds from projects as they borrowed more to restructure hidden debt, reports Bloomberg. The government is allocating the money as equity capital under the so-called “new financing policy tool,” […]
Chinese electric-vehicle (EV) king BYD expects exports to make up about 20% of its global sales this year, spurred by improved logistics and new model launches, reports the South China Morning Post. The Shenzhen-based carmaker forecasts 800,000 to 1 million deliveries outside mainland China in 2025, compared with projected total sales of 4.6 million units, said […]