China's Ministry of Finance is releasing 550 billion yuan in unused local government debt quotas, allocating 300 billion yuan to county and district budgets and 250 billion yuan to infrastructure projects. The measure aims to support slowing economic activity while helping local authorities manage mounting debt obligations.
China and EU Agree to Pursue Negotiations to Ease Electric Vehicle Trade Disputes
Chinese and European Union trade officials have agreed to establish a negotiation framework to address disputes over Chinese electric vehicle exports and European tariffs. The talks aim to prevent further trade restrictions and protect commercial ties between the two major economies.
China Proposes Nationwide Minimum Pay and Rest Protections for Gig Workers
China has introduced draft national regulations to strengthen employment protections for millions of delivery riders and ride-hailing drivers. The proposed rules would establish minimum pay standards, guarantee rest periods and restrict arbitrary fines, addressing longstanding gaps in the country's platform economy labour protections.
People's Bank of China Rejects Yuan Depreciation as a Strategy to Boost Exports
China's central bank says it has no plans to weaken the yuan to improve export competitiveness, arguing that global trade imbalances require broader economic reforms. The statement comes as the Chinese currency gains a larger role in international financial transactions and trade settlements.
Citi Warns China's Economic Growth Could Slow Toward 4% in 2027
Analysts at Citibank expect China's economic growth could weaken to around 4% next year as property sector difficulties and subdued household consumption continue to weigh on activity. The forecast adds pressure on Beijing to consider stronger measures to stimulate domestic demand.
China Proposes Adding Non-Bank Lending Data to National Credit Reporting System
The People's Bank of China has proposed expanding its national credit database to include information from alternative lenders and non-bank financing providers. The changes aim to improve oversight of borrowing outside the traditional banking system and give regulators a clearer picture of financial risks.
Chinese Memory Chipmaker ChangXin Loses 290 Billion Yuan in Market Value as Shares Slide
Shares of ChangXin Memory Technologies have recorded their steepest decline since the company's July stock market listing, wiping approximately 290 billion yuan from its market value. The sell-off reflects investor concerns about memory chip prices and the profitability of China's heavily supported semiconductor industry.
China's Golden Week Tourism Spending Surges 23.6% as Retail Demand Remains Weak
Chinese tax data shows tourism and entertainment spending rose 23.6% during the extended October holiday, contributing to a broader increase in service-sector revenue. The strong performance contrasts with subdued traditional retail consumption, highlighting an uneven recovery in household spending.
Chinese Automakers FAW and GAC Consider Merger Amid Intense Industry Competition
A potential merger between state-owned First Automobile Works and Guangzhou Automobile Group could accelerate consolidation in China's automotive industry. The proposed combination would aim to reduce excess production capacity and strengthen competitiveness as domestic electric vehicle manufacturers face intense price pressure.
Chinese Property Investor Files $1.5 Billion Lawsuit Against Evergrande Founder Hui Ka Yan
Hong Kong property investor Cheung Chung Kiu has filed a $1.5 billion lawsuit against detained China Evergrande founder Hui Ka Yan. The case adds another legal complication to the troubled developer's liquidation and highlights continuing financial disputes stemming from China's property market downturn.
Nvidia's Jensen Huang and AMD's Lisa Su Join Tsinghua University Business School Advisory Board
Nvidia chief executive Jensen Huang and AMD chief executive Lisa Su have joined the advisory board of Tsinghua University's School of Economics and Management, chaired by Apple's Tim