Finance Minister Lan Foan has emphasised that fiscal efforts to support China’s technological advancement are a government priority, as many analysts predict that Beijing will raise this year’s fiscal deficit ratio to 4 per cent to bolster economic growth. In an article in the Communist Party mouthpiece People’s Daily on Friday, Lan pledged that his…
Hong Kong is expected to play a bigger role in the internationalisation of the yuan as liquidity increases and uses for businesses and individuals broaden significantly, according to officials and market participants. The city was already the world’s biggest offshore yuan business centre, with the largest offshore liquidity pool, foreign-exchange market and over-the-counter market for…
China’s semiconductor sector saw a steep one-third decline in funding inflows this year amid US restrictions on advanced chips and overcapacity concerns in legacy chips, according to data from a local industry research firm. In the first 11 months of 2024, the country’s chip industry recorded 677 investment deals, a decline of 35.9 per cent…
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre. The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function…
President Xi Jinping has issued a slew of economic-centric instructions in the past week, at a time all eyes are watching Beijing’s stimulus package aimed at shoring up China’s economy. The latest message from Xi was conveyed on Sunday in the northeastern city of Tianjin during an event to celebrate the 40th anniversary of China’s…