Topic
Despite its role in supporting China’s economic boom, private capital still carries a whiff of notoriety in the country.
In 1998, China paved the way to economic lift off with World Trade Organisation talks. In 2008, it beat the Global Financial Crisis. So in 2018, on its 40th anniversary of reform and opening up, it’s at a familiar juncture
As the world’s second-largest economy moves toward self-sufficiency, concerns are rising that inward-looking priorities could undermine Beijing’s commitment to open up, while foreign investors feel neglected.
But despite China’s ‘weaker and more fragile economy’, its openness to trade has been outperforming that of large developed economies, according to the latest China Pathfinder assessment.
In the decade or since Beijing hosted the Summer Olympics, the country’s relationship with developed economies has descended into antagonism and confrontation.
Shenzhen has been the nation’s shining beacon of reform and opening-up for decades, and new guidelines released this week show it will continue to be for years to come.
As global investors continue to pour billions into Chinese bonds and equities, HKEX has a key role to play as a ‘connector’, says Nicolas Aguzin.
Changes in mainland China led Hong Kong to change course, become global financial centre it is today.
Beijing has in recent weeks issued a deluge of new regulations on industries ranging from tech to private education, raising concerns about the effect of tighter control on the economy.
‘Discourse and ideology need to be controlled by the central government’, and Beijing ‘aims to rectify education itself’, industry insider says.
Entrepreneur Chen Zhilie and architectural engineer Lu Jianxin shared the stage with the president at a carefully choreographed ceremony on Wednesday.
Xi Jinping on Wednesday praised Shenzhen for showcasing China‘s potential for economic transformation as the country enters a new era of ’unprecedented problems’.
Chinese president tasks city with becoming world-class innovation powerhouse and says it will be given more autonomy to make reforms.
Shenzhen’s financial resources put it ahead of other cities in the Greater Bay Area to take the lead in financial deregulation that will facilitate free trade and cross-border capital flows.
Prescriptions for change are being publicly suggested by Chinese experts as trade conflicts with the West appear set to continue.
Inaction by previous US administrations also helped lay the groundwork for the impasse, Barshefsky says.
Official Yuan Geng reported to State Council on special industrial zone idea before Deng Xiaoping got backing for reform, exhibition shows; Yuan launched reforms in Shekou a year before Deng okayed Shenzhen special economic zone.
Communist Party rule is key to weathering ‘unimaginable’ perils and dangers, according to the Chinese president. But his one-and-a-half hour speech sheds little light on future reforms, to the chagrin of those wanting economic liberalisation, and doesn’t mention US trade war or slowing economy.