Reform helps China build high-standard market economy
The Chinese economy is facing a complicated situation that hasn't been seen in many years, given the major adjustments to the international trade and investment order, the ongoing China-US trade war, low confidence among China's private enterprises, and the weak outlook of the domestic economy.
Is BRI road to a 'debt trap'? The numbers say no
The issue of whether China is pursuing “debt diplomacy” through the Belt and Road initiative (BRI) has sparked international debate.
China's fiscal policy needs to boldly break free of 3% deficit rule
As the China-US trade conflict intensifies and GDP growth slows, the Chinese economy is under increasing downward pressure, making it urgent to maintain macroeconomic stability. During a meeting held in early November, Premier Li Keqiang said that financial departments are encouraged to be proactive, while the Ministry of Finance should “step forward boldly.”
China-EU cooperation can safeguard WTO rules
The China-US relationship has drawn increasing attention from the international community. Some observers claim that amid what looks like a prolonged trade war, China and the US will compete to rally support.
China's leverage not a problem if it's sustainable
China's non-financial sector – the government, households and non-financial businesses – reported low, stable leverage ratios before 2008. When the global financial crisis arrived in 2008 and hit China, the country announced a 4-trillion-yuan ($577.88 billion) stimulus plan. The injection of new bank loans rapidly drove up debt ratios, and the central government decided in 2015 to curb the rise in leverage. This effort started producing effects in 2017 and has continued to be effective this year.
China needs to keep ODI-related risks under control
China's outbound investment has increased remarkably since 2008. As of the end of 2017, the nation's cumulative outbound direct investment (ODI) exceeded $1.8 trillion in 189 countries and regions, accounting for 5.9 percent of the global total, Ministry of Commerce statistics show.
Western aid model takes on Chinese characteristics
Australia recently announced plans to set up a A$2 billion ($1.4 billion) infrastructure aid fund for South Pacific nations, which will provide grants and long-term loans to support energy, transport, water and telecommunications projects in the region.
Demographic dividend cannot guarantee India's rise
Without enough jobs, India's current demographic dividend may instead turn into a burden. People have been talking about India's rise since the end of the Cold War, and the country's economy has indeed grown quickly. India's GDP was $274 billion at the time of the 1991 economic reforms. By the end of 2017, the figure had grown to $2.59 trillion, making India's economy the world's sixth-largest, according to the latest figures from the World Bank. Many people are convinced that India will create a new human development miracle, specifically because India has a young population and a demographic advantage that will continue for more than a decade.
China, Azerbaijan to embrace closer trade ties under CIIE platform
In recent years, economic ties between China and Azerbaijan have become ever-closer with both trade and investment growing fast. Located in the South Caucasus region of Eurasia at the crossroads of Eastern Europe and Western Asia, Azerbaijan also occupies an important geographical position on the route of the Belt and Road initiative (BRI). However, despite growing economic interactions, Chinese people's understanding of Azerbaijan is still limited, which constitutes a barrier to closer communications.
It is anticipated that China's reform and opening-up, notably through the China International Import Expo (CIIE) platform, can provide an opportunity for Azerbaijan to boost trade with China.
Double 11 shows rising clout of China's consumers
“The biggest shopping day on the planet has started with a bang,” CNN said at 00:52 am Beijing Time on Sunday. In one hour and 47 minutes and 26 seconds, Tmall, the online retail marketplace under Chinese e-commerce giant Alibaba, saw its sales surpass 100 billion yuan ($14.38 billion), setting a new record for the tenth Double 11 shopping festival.
Another record worthy of note is that more than 19,000 overseas brands from 75 countries and regions participated in the shopping bonanza, making the Double 11 a shopping carnival for both Chinese consumers and global businesses.
China's reform experience aids developing economies
This year is the 40th anniversary of China's reform and opening-up. When this process started in late 1978, China was one of the poorest countries in the world. From that low starting point, China has achieved an average 9.5 percent annual GDP growth rate. No any other country or region in human history has kept up such a high speed of economic growth for such a long time.
China-EU financial ties could throw off US hegemony
Sticking to the “America first” policy, the administration of US President Donald Trump has been using its military and financial advantages to create trouble for China and its European allies in trade and even national sovereignty.
Better funding mix to help clear misreading of China engagement in Africa
The government of Sierra Leone recently announced the cancellation of the China-funded Mamamah International Airport project, citing “uneconomic” construction as the reason. Some Western media took this opportunity to smear China-Africa development cooperation, saying that the Sierra Leone incident set a precedent that may allow more African countries to reexamine their cooperation with China.
CIIE to boost confidence in economic globalization
More than 3,000 companies from over 130 countries are exhibiting their products and technologies at the debut China International Import Expo (CIIE) being held in Shanghai. Speaking to an audience of many foreign government leaders, Chinese President Xi Jinping reaffirmed the country's steadfast adherence to reform and opening-up as the only path to high-quality development of China's economy.
More clarity on status of Chinese private firms, SOEs needed
Expressions like “competitive neutrality” and “ownership-neutral” have been frequently mentioned by heads and spokesmen of some government agencies in recent days. The remarks were made in response to overseas skepticism toward China's State-owned enterprises (SOEs). The “neutrality” concept and “equal treatment” for enterprises with different forms of ownership have long been emphasized in government documents. Yet, the survival and development of the private economy has always been considered a challenge. This is mainly because some important theoretical and policy questions haven't been answered and, in practice, there is still a long way to go to achieve “competitive neutrality.”
Opportunity for easing China-US trade row shouldn't be missed
But I would argue that high levels of pessimism often point to the severity of the situation and having low expectations often raises hopes for negotiations. It seems that the G20 meeting later this month might be a valuable window of opportunity to reduce the trade tensions before the end of the year.
Global industry chain integration China's best choice
The Trump administration has struck another blow against China's technology sector as the US Commerce Department on October 29 announced it will restrict Chinese chipmaker Fujian Jinhua Integrated Circuit Co from buying components, software and technology goods from US companies.
Focus on long-term stock market stability needed
There have been calls from high-level government officials to boost the stock market in recent days and various measures have been taken, but the core issue is not to return to the kind of bull market that was seen in 2014 and early 2015.