Government ditches ‘downtrend’ in economic assessment
The most important and market-moving stories from the Chinese-language media
The government removed the phrase “downward trend in the economy,” indicating a more positive outlook, the National Economic Daily reported, citing the meeting of the Communist Party of China in Beijing that ended October 28. The Party also said it will boost support to impoverished regions and control asset bubbles.
No Change in monetary policy
The yuan’s depreciation against the US dollar won’t alter China’s monetary policy, reported the People’s Daily overseas edition on Saturday.
China to “revolutionize” energy use
China will “revolutionize” production and use of renewable energy in a policy plan running through 2030, said Shanghai Securities Journal, citing Wang Yong, an official with the State Council. Separately, GCL Power Holdings said it will cut the cost of producing solar panel polysilicon to US$8 per kilogram by 2020.
PPP projects expand to infrastructure
More Public-Private Partnership projects will start in energy, transportation, water conservation, environmental protection, agriculture, forestry and major municipal projects, said the National Development and Reform commission on October 24, reported the National Economic Daily.
Airport construction, services to be liberalized
Aviation authority will open up construction of airports and related services to private investors, according to Xinhua news agency report on October 30, citing a policy paper.
NPC to meet on nuclear safety, other bills
Nuclear safety, environmental protection, and promotion of small to medium enterprises are some of the items on the agenda when the National Party Congress Standing Committee meets through November 7, according to China News. Others include an extradition treaty with Pakistan and giving more authority to the Supreme Court to promote corporate transparency.
CSRC expands scope of IPO assessments
China Securities Regulatory Commission will expand its scope of investigation into companies planning IPOs to include corporate disclosure and governance, structure of shares, and collaboration with local regulators, Tencent news reported, citing an unnamed source. Ten companies have been identified for assessment.
Gree’s motion to acquire Yinlong Group fails
Gree’s attempt to buy energy company Yinlong Group failed at a shareholder meeting as expected, Yicai news said, citing a company statement. Gree in August offered to buy Yinlong for 13 billion yuan.
National standard set for respiratory masks
The first national standards for respiratory masks will be introduced from November 1, China News Service reported.