China to ease restrictions on 2017 foreign investment
The most important and market-moving stories from the Chinese-language media
China will reduce restrictions to encourage foreign investment in manufacturing, technology, energy efficiency, environmental protection, and services industries in 2017, China News reported Monday citing Tang Wenhong at the Ministry of Commerce.
Foreign investment likely 785 bln yuan in 2016
China is estimated to have attracted 785 billion yuan (US$113 billion) in foreign investment in 2016, reported National Economic Information Daily citing Commerce Minister Gao Hucheng. The services sector alone attracted 513.3 billion yuan or 70.1% of the total. No comparison with 2015 was given.
China to cut grid tariffs on solar and wind power
China will cut grid tariffs on solar and wind power generators in 2017, Sina Finance reported Monday afternoon citing a notice from the National Development and Reform Commission’s website. The move reflects a decline in solar panel and wind turbine manufacturing costs.
Internet revenues may have jumped 40% in 2016
Internet business revenues may have climbed 40% in 2016, Sina Finance reported, citing Miao Wei, Director of China’s Ministry of Industry and Information Technology. He also said the country will maintain focus on the “Made in China 2025” strategy to transform the country from a world factory to an innovative manufacturing power.
Asset securitization approved for public-private infrastructure projects
Raising funds through asset securitization has been approved for public-private partnership infrastructure projects, Sina Finance reported Monday afternoon citing a joint statement by China’s National Development and Reform Commission and Securities Regulatory Commission. The move is to attract more investors, according to the statement.
Road, water project spending set for 1.8 tln yuan
Total investment in road and water transportation projects in 2017 is set at 1.8 trillion yuan, said Minister of Transportation Li Xiaopeng, the National Economic Daily reported. Highway construction in the year is set at 5,000 kilometers, along with rebuilding and renovation of 200,000 kilometers of other roads.
More steel cuts at operating mills to come in 2017
More steel capacity will be removed from operating mills in 2017, the Shanghai Securities Journal reported. About 27 million metric tons of capacity cuts this year mostly came from mills that had already closed in 2015. Next year, about 20 million tons will be cut at operating mills and another 13 million tons at mothballed plants.