The Chinese economy has been a hot topic lately. David asked me to share my thoughts. So I did some homework and summarized what has changed, and what has not, in the Chinese economy.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.74 percent to close at 2,599.88 points Wednesday.
The Chinese government has taken other steps recently to tap into the potential of the inbound tourism market.
The China-CEEC SME Cooperation Zone was previously known as the Sino-Czech-Slovak Friendship Farm, a state-owned farm established in 1956 to celebrate the friendship between China and what was then Czechoslovakia. It has grown into a platform dedicated to forging closer ties in areas such as aviation, agricultural technologies and high-end manufacturing between China and central Eastern Europe.
The China Banking and Insurance Regulatory Commission spelled out the qualifications for investors in such products. For instance, a natural person should have at least two years of investment experience and meet one of the three requirements below: Household net financial assets of the person are no less than 3 million yuan (2,181); household financial assets of the person are no less than 5 million yuan; or the average annual income of the person is at least 400,000 yuan during the last three years.
The China Automobile Dealers Association also submitted reports to the China Banking and Insurance Regulatory Commission, the Ministry of Commerce and related authorities, hoping they offer industry-specific policy support to combat the challenges brought by the outbreak, including simplifying review and approval procedures on debt extension, increasing credit limits, accelerating lending efficiency and lowering the cost of financing.
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The CSRC will also step up inspections and punishments of listed firms' activities, including information disclosure, refinancing and mergers and acquisitions, said Pan Xiangdong, chief economist at New Times Securities.
The Chinese government's Belt and Road Initiative is going to make the country a major driving force of the global economy for decades to come, by creating stronger economic ties, enhanced connectivity and more openness around the world. Aviation is set to have an important role to play to support this initiative.
The Chinese mainland and the Hong Kong Special Administrative Region jointly revised a 20-year-old legal assistance arrangement and issued it on Friday, in an effort to consolidate cooperation in resolving commercial disputes.
The CSRC vowed to improve the quality of listed companies by supporting them in listing their business units, as well as to tighten oversight and crack down on unlawful practices.