China Digest

Economics and policy from China’s newspapers

Wednesday September 27, 2017

Ant Financial and CK Hutchison establish joint venture

Ant Financial, the payment affiliate of Alibaba, announced that it will create a joint venture with Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings (00001.HK), to operate and expand its digital payment app in Hong Kong, Caixin reported on Tuesday.

Medical billing system expands throughout China

People who retire, work or become long-term residents in cities other than their hometowns, can bill the cost of treatment with medical insurance in any hospital connected to the national medical billing system, said Lu Aihong, the spokesman of Ministry of Human Resources and Social Security, the 21st Century Business Herald reported.

China to boost technology transfer system by 2025

The State Council released a guideline on Tuesday stating that it aims to complete its technology transfer system by 2025 to enable it to “adapt to new circumstances” by 2020, the 21st Century Business Herald reported on Wednesday.

Major marine firms set stage for integration

China CSSC Holdings Ltd. and CSSC Offshore & Marine Engineering Company Ltd. both announced that their controlling shareholder, China State Shipbuilding Corp., is currently planning changes that might involve the reorganization of the company’s assets, China Securities Journal reported.

Ningbo to trade US$40 billion with ‘Belt and Road’ countries

The Development and Reform Commission in Zhejiang province has released a new program to establish a “One Belt One Road” experimental zone in Ningbo city, the 21st Century Business Herald reported.

More than 100 Chinese cities issued housing curbs

More than 100 cities in China have introduced curbs on property speculation since the crackdown was launched on the housing market a year ago September 30, according to a report by Securities Daily.