China Digest

Economics and policy from China’s newspapers

Monday January 23, 2017

2017 fiscal spending aims to secure people’s livelihood

Fiscal spending for 2017 will focus on securing people’s livelihood, the Ministry of Finance said on Saturday night in a Xinhua news agency report. Central and local finance ministries are required to restructure fiscal expenditure and guide private capital to help improve and guarantee people’s livelihoods, the report added.

More administrative licensing hurdles removed

The State Council has removed 39 more administrative licensing requirements mainly involving enterprises’ operation and production, individual employment and start-ups, a Xinhua report said on Saturday night. Previously, 230 administrative licensing requirements had been removed, the report added.

National anti-graft body to be set up by 2018

A National Supervision Committee is to be set up with units in each province by March 2018, a Caixin report said on Sunday. The committee is part of efforts to establish anti-corruption institutions under the central government, said the Central Commission for Discipline Inspection. In a pilot program, Beijing, Zhejiang and Shanxi have set up units under the committee, with party bosses appointed as directors.

China Railway inks deal to stabilize coal price

China Railway signed a mutual agreement with four coal companies and five power generation enterprises to guarantee annual volume of coal transported, Yicai reported on Sunday evening, citing China Railway officials. The move is said to stabilize coal prices and the national economy.

PBOC to ease cash crunch at banks for Lunar New Year holidays

The People’s Bank of China will provide temporary funding support to major commercial banks to ease to the cash crunch before Lunar New Year holidays, the Securities Daily said. The total amount is expected to reach 600 billion yuan (US$87.25 billion).

Securities and Futures Commission to limit company financing

China’s Securities and Futures Commission will impose measures to limit frequent and big financing of listed companies, the Securities Daily said. Zhang Xiaojun, a spokesman of the Securities and Futures Commission said the move is to stabilize market operations.

US$14.5b internet investment fund to be set up

The Cyberspace Administration together with the Ministry of Finance set up an internet investment fund worth 100 billion yuan (US$ 14.5 billion) to boost development of the sector, Xinhua reported on Sunday afternoon.