China’s military and railway authorities are working together to streamline military transport and ensure the smooth delivery of military consignments. It marks the first major military-civilian joint initiative since a key Communist Party policy meeting in July called for progress in this area. A resolution passed at the meeting, officially known as the third plenum,…
China’s Ministry of Finance held a press conference on Saturday morning. Officials spoke about defusing local debt risks and stabilising the property market, adding the central government “has room” for further action and higher deficits. A specific figure for fiscal stimulus was not revealed. The conference followed announcements of broad plans from other state bodies,…
Former Hong Kong leader Leung Chun-ying has urged the city to draw from the experience of its Shenzhen neighbour and take bolder, faster steps to push for increased competitiveness through reforms such as high-end industrial development. Leung made the call on Saturday after the recently concluded third plenum of the 20th Central Committee of the…
Beijing’s quick endorsement of a scheme to raise the retirement age shows it is determined to address the problem of dwindling pension funds amid faltering economic growth and an ageing population, analysts say. But, they add, the changes are unlikely to be a silver bullet for fiscal shortfalls and could come with “political pain”. For…
President Xi Jinping has subtly toned down China’s focus on achieving its annual economic growth goals this year, seemingly indicating the difficulties faced by the world’s second-largest economy in achieving its “around 5 per cent” gross domestic product target. “We should strive to fulfil the economic and social development goals and tasks for the whole…