Tag: National Development and Reform Commission (China)

China’s Exports Surge Are Drawing a Global Backlash

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China’s factory exports are powering ahead faster than almost anyone expected, putting jobs around the world in jeopardy and setting off a backlash that is gaining momentum. From steel and cars to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for goods. The world’s appetite for its goods is welcomed by China, which is enduring a severe downturn in what had been the economy’s biggest driver of growth: building and outfitting apartments. But other countries are increasingly concerned that China’s rise is coming partly at their…

More Semiconductors, Less Housing: China’s New Economic Plan

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China’s political leaders, under pressure to support the country’s fragile recovery, are slowly steering the economy on a new course. No longer able to rely on real estate and local debt to drive growth, they are instead investing more heavily in manufacturing and increasing borrowing by the central government. For the first time since 2005, when comparable record keeping in China began, banks controlled by the state have started a sustained reduction in real estate lending, data released last week showed. Enormous sums are instead being channeled to manufacturers, particularly…

China Details Plans to Stimulate Consumer Spending

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Chinese drivers who trade in older cars for newer models will be eligible for subsidies, as will rural households that buy insulation and other home renovation materials to improve energy efficiency. Entrance fees at scenic sites will be cut to promote tourism. Those were a few of a long list of measures detailed on Monday by the Chinese government in an effort to stimulate consumer spending. Attempts by officials in Beijing to juice the economy have taken on greater urgency as it has become clear that the recovery is flagging.…

Xi Jinping Picks Team to Work Under Him for the Next Five Years

Chin@Strategy

China’s top leader, Xi Jinping, was confirmed to a norm-breaking third term as state president on Friday, further formalizing his position as China’s most dominant leader in decades. The announcement was no surprise: Mr. Xi oversaw the abolition of presidential term limits in 2018, and in October he secured a third term as head of the Chinese Communist Party, the position from which his real authority derives. Now, as the annual meeting of China’s rubber-stamp legislature concludes in the coming days, many of his loyalists are being elevated to the…

Why China Is Tightening Its Oversight of Banking and Tech

Chin@Strategy

A real estate market that is threatening the financial system and holding back the economy. A tech industry that is being targeted by aggressive U.S. efforts to cut it off from the world. Tech companies that are trying to keep pace with fast-moving developments in artificial intelligence. As its trade and economic rivalry with the West has intensified, China has launched a government overhaul intended to address some of its biggest stated priorities. A series of changes handed down from the highest reaches of the government were approved Friday at…