People get less time to pay off home loans
Beijing will reduce the term on home loan repayments from 30 to 25 years on the purchase of a second property, Yicai reported on Thursday evening, citing information from multiple banks. The move is believed to be a government attempt to tighten mortgage lending, the report added.
Developed countries ‘make it hard for state-owned firms to invest’
State-owned enterprises have faced tighter requirements when investing in some developed countries, the state-run China News Service reported on Thursday, citing Ministry of Commerce spokesman Sun Jiwen. The global market, especially in finance, has seen more uncertainty and a greater volatility just recently, the report added.
81.3% jump in foreign investment for 2016 in pilot free-trade zones
Foreign investment in 2016 soared 81.3% compared to 2015 in four pilot free-trade zones, attracting a total of 87.9 billion yuan (US$12.8 billion), Yicai reported on Thursday afternoon, citing Sun Jiwen, a spokesman of the Ministry of Commerce at a press conference.
253 non-profit agricultural wholesale markets built since 2014
In the two years since 2014, China has built 253 non-profit agricultural product wholesale markets and 5,291 retail markets, said a Sina Finance report on Thursday afternoon, citing Sun Jiwen, spokesperson of the Ministry of Commerce. Products sold at these markets are around 20% lower, the report added.
Pharmaceutical industry to face factory reforms
In an effort to improve the quality of drug production, the government will tighten the approval process and standardize the quality and efficacy of generic drugs available on the market in pharmaceutical industry reforms, the Xinhua state news agency reported on Thursday. These reforms can help reduce the total social medical cost on the country, the report added.