After Huawei smartphone leap, Beijing sets sights high for advanced manufacturing in midst of US tech curbs (SCMP)
2023-09-08
Fair shows confidence in opening up service sector (China Daily)
2023-09-08
5th ‘Silk Road Maritime’ Intl Cooperation Forum kicks off, seeking efficient trade (GT)
2023-09-07
Apple stocks fall on reports that China agencies are barring iPhone use (SCMP)
2023-09-07
New route facilitates biz ties for BRICS (China Daily)
2023-09-06
China’s ‘economic momentum is still weak’: 4 takeaways from August’s manufacturing, services activity data (SCMP)
2023-09-06
China New Growth: China leads global clean energy shift with wind, solar power push (Xinhua)
2023-09-05
China sets up bureau to stimulate private economy (China Daily)
2023-09-04
Financial institutions from home and abroad take new fintech products during 2023 CIFTIS (GT)
2023-09-02
Beijing and Shanghai Ease Mortgage Rules for More Buyers to Spur Sales (Caixin)
2023-09-02
Beijing and Shanghai lowered mortgage requirements for some homebuyers following guidance from the central government, lowering barriers to property ownership in some of the country's most prized locations. Both megacities will no longer disqualify people who’ve previously had a mortgage — even if fully repaid — from being considered first-home buyers as long as they don’t presently own property, according to separate statements from the city governments. That would make such buyers eligible for smaller down payment requirements and lower mortgage rates. The cities’ announcements follow new leeway from the central government that allows local officials to execute such policies in a bid to revive demand from homebuyers that was shattered by the two-year property crisis. Guangzhou and Shenzhen took similar steps, and authorities cut down payments nationwide. “The recent easing since last week has exceeded expectations,” Betty Wang, senior economist at Australia & New Zealand Banking Group, said before the announcements in Beijing and Shanghai. China’s home sales are slumping, and giant developer Country Garden Holdings Co. is on the brink of default. Risks are spreading to the country’s $60 trillion financial system. So far officials have refrained from resorting to a large-scale bailout for the industry, spurring concerns about the economy and putting the government’s 5% growth target for this year at risk.
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