Top news of the week:

• Premier Li Keqiang chairs a symposium attended by experts and entrepreneurs

  April 12, 2021

  Premier Li Keqiang has chaired a symposium where experts and entrepreneurs gathered to analyze China’s current economic situation. Li has stressed efforts to consolidate stable economic growth momentum and maintain the continuity, stability, and sustainability of the nation’s macro policies. Additionally, Li has demanded efforts to promote reform and opening-up, optimize business environment, stabilize foreign trade and investment and ensure the stability and security of industrial and supply chains.

• Three authorities impose strict anti-monopoly measure to internet platform companies

  April 13, 2021

  The State Administration for Market Regulation, the Cyberspace Administration of China, and the State Taxation Administration have jointly summoned a total of 34 internet giants including Tencent, ByteDance and JD.com for a meeting. Those companies have been ordered to conduct self-inspections within one month and warned of severe punishment for any violation of the rules after that

• China’s central bank urges tougher antitrust rules for non-bank payments industry

  April 14, 2021

  The People’s Bank of China (PBOC), China’s central bank, has hosted an internal meeting focusing on the work of payment and settlement of 2021. According to the meeting, the PBOC will improve the top-level design of payment industry, plan tougher antitrust rules for non-bank payments industry, accelerate the introduction of Regulations on Non-bank Payment Institutions, and speed ​​up the construction of the national cross-border payment system.

• China’s FDI in the first quarter increases by 39.9% year-on-year

  April 15, 2021

  China’s foreign direct investment (FDI) has logged a substantial increase in the first quarter of 2021. According to the Ministry of Commerce, FDI into the Chinese mainland have surged 39.9 percent year on year in actual use to RMB 302.47 billion in the first quarter. Notably, foreign investment in the services industry has reached at RMB 237.79 billion in the first quarter, up 51.5 percent from a year ago, and foreign investment in the high-tech services sector has climbed 43.9 percent.

• PBOC and IMF co-host a high-level event on green finance and climate policy

  April 16, 2021

  The PBOC and the International Monetary Fund (IMF) have jointly hosted a high-level seminar focusing on green finance and climate policy. Yi Gang, governor of the PBOC said that the central bank is considering the matter of climate change among financial institutions in a systematic manner and will gradually include climate risks into the macroprudential policy framework.