China Digest

Economics and policy from China’s newspapers

Monday February 6, 2017

First policy statement in 2017 targets agricultural reforms

Promoting environmentally friendly production methods, expanding the value chain and encouraging innovation are among reforms set out for the agricultural industry in the first 2017 policy paper, the state news agency Xinhua reported on Sunday.

State Council to reduce urban-rural income disparities by 2030

Regional development differences and urban-rural income disparities will be reduced by 2020, and equal provision of public services in both cities and villages by 2030, Caixin reported, citing the territorial planning document published on Saturday. The maritime economy – including mining, shipping, fisheries and natural gas – will account for 9.5% of GDP by 2020, and 14% by 2030, China Finance Information reported, citing the same report.

Green certificates to be issued for solar, wind energy

China will issue green energy certificates to solar and wind power plants starting from July 1, Caixin reported on Friday, citing a document issued by the National Development and Reform Commission, the Ministry of Finance and National Energy Administration. Certificates will be compulsory in 2018. Solar and wind energy accounted for 9% and 4.7% of China’s total power generation in 2016, respectively, and certification would encourage the use of clean energy.

Stricter supervision imposed on illegal arbitrages

Shanghai’s office of China’s Banking Regulatory Commission will impose stricter supervision on illegal and unregulated arbitrages in 2017, 21st Century Business Herald reported on Sunday quoting Director Han Yi in an interview. Unlawful earnings will be confiscated and heavy fines will be imposed, the report added.