China Digest

Economics and policy from China’s newspapers

Monday September 11, 2017

China starts approval of milk powder formula

Close to 224 formulas by 32 milk powder companies have been approved by China’s top food safety agency, reported, citing a spokesperson from the China Food and Drug Administration (CFDA).

Subsidy withdrawal forces rethink of new energy vehicle policy

China’s Ministry of Industry and Information Technology, Ministry of Finance, Ministry of Science and Technology and the Development and Reform Commission began studying new policies to prevent a cliff-like decline in new energy vehicle sales after the country stops all financial subsides on the sector by 2020, Caixin reported.

Huawei targets big five role in cloud computing

Huawei, China’s leading smartphone maker, has put forward a strategic alliance in order to promote its cloud computing service, Huawei Cloud, as it aims to be one of the big five cloud computing companies in the world, Caixin reported.

Internet of Things is on the eve of an outbreak: Li Qiang

“Internet of Things is on the eve of an outbreak,” Caixin reported, quoting Li Qiang, Jiangsu Provincial Party Secretary at the 2017 World Internet of Things Expo held on Sunday in Wuxi City, Jiangsu Province.

Bank of Communication fades from mixed ownership reform

Compared to the ongoing aggressive ownership reform of China Unicom, it has been two years since the Bank of Communication (BOC) put forward its plan to introduce private capital and offer shares to its employees, who apparently are stuck without any progress, the 21st Business Herald reported.

SDIC’s realized profits hit US$1.75 billion, a 41% jump

China’s largest state-owned investment company, the State Development and Investment Corporation (SDIC), said recently that the organization’s realized profits hit 11.3 billion yuan (US$1.75 billion) for the first half of this year, a 41% increase from the same period last year, reported