China Business Now

China Business Now丨Chinese market regulator called for talks with US; Apple led Fortune 500 in profits

China Securities Regulatory Commission (CSRC) called for more communication with its U.S. counterpart on Sunday regarding Chinese stocks listed on Wall Street. The U.S. Securities and Exchange Commission (SEC) announced on Friday that it will not allow Chinese companies to raise money in the United States unless they fully explain their legal structure and disclose potential business risks.

China Business Now丨Housing authorities tighten control on property markets

Wuhan Housing Security and Management Bureau on Wednesday issued a draft regulation to strengthen the management of house-purchasing qualifications. The regulation proposed that people must first get a voucher for one housing property before they could purchase it. The voucher is valid for 60 days.

China Business Now丨Zero tolerance for paid extracurricular lessons; Panzhihua becomes first city to give childcare subsidy

China’s Ministry of Education will carry out a nine-month rectification of paid extracurricular lessons, adopting a “zero tolerance” approach against school teachers organizing off-campus tutoring classes while treating in-class lectures perfunctorily, and receiving benefits from parents.

China Business Now丨Family planning law to amend in August; IMF lowers China’s 2021 economy projection by 0.3%

A draft amendment to China's Population and Family Planning Law will be submitted to an upcoming session next month of the Standing Committee of the National People's Congress (NPC) for its deliberation, according to a statement issued on Tuesday.

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CBN丨China should create good environment for SMEs; Wang Yi made China's position clear to Sherman

Chinese State Councilor and Foreign Minister Wang Yi on Monday met with U.S. Deputy Secretary of State Wendy Sherman, urging the United States to drop arrogance and prejudice and steer back to a rational and pragmatic China policy. Wang said the two sides should enhance mutual understanding, erase misunderstanding, avoid misjudgment and better manage differences via constant dialogues.

China Business Now丨Typhoon In-Fa hits east China; Hainan issues 1st negative list for services trade

Typhoon In-Fa made a second landfall at around 9:50 a.m. Monday in the coastal area of Pinghu City, east China's Zhejiang Province, according to the National Meteorological Center. Zhejiang on Saturday upgraded its emergency response to Level I, the highest level. All high-speed trains bound for Shanghai had been suspended since yesterday.

China Business Now丨Zhengzhou lowers flood control response to Level III, with death toll rose to 51

China Business Now丨Henan’s record rainstorms claimed 33 lives; metal reserves to release late July

China’s National Development and Reform Commission and the National Food and Strategic Reserves Administration said Wednesday that the country will release another batch of national reserves including copper, aluminum and zinc. Some 30,000 tons of copper, 90,000 tons of aluminum and 50,000 tons of zinc will be released from the national reserves in late July. 

China Business Now丨Heavy storms caused massive floods in Henan；Measures to support 3rd-child policy

China’s central Henan Province is having the most severe rainstorms on record, and it’s causing massive flooding in the city of Zhengzhou. Henan Province on Wednesday initiated its highest-level emergency response to flooding, as rain-triggered disasters. The People's Liberation Army has been mobilized in Henan to take part in the disaster-relief efforts, sending more than 3000 soldiers and 80 vehicles and rafts to the storm-lashed province. 

China Business Now丨PBOC stressed supports for Shanghai in free use of RMB; LPR remained at 3.85%

The People's Bank of China (PBOC) on Tuesday said it will continue to support the construction of Shanghai as an international financial centre, and support Shanghai to take the lead in the free use of RMB. The central bank will further facilitate the free flow of corporate trade and investment funds, explore the free convertibility and free flow of capital in the Lingang Special Area, and build the city into an important hub and bridge between international and domestic markets.