Top news of the week:

• PBOC Governor highlights the relationship between development and risk prevention

  September 20, 2021

  Yi Gang, governor of the People’s Bank of China (PBOC), recently stated that China strives to balance the relationship between encouraging development and preventing risks, insists that all financial activities should be under financial supervision, strengthens anti-monopoly regulation, and requires relevant companies to improve corporate governance. China’s regulators must stimulate the vitality of market entities and technological innovation capabilities to consolidate and enhance international competitiveness.

• Fujian COVID-19 outbreak continues

  September 21, 2021

  The COVID-19 outbreak that has been spreading in Fujian province spread further last week. In the previous 7-day period, China’s NHC reported 380 new domestically transmitted symptomatic infections, up significantly from 43 in the previous 9-day period, and 9 new domestically transmitted asymptomatic infections, down from 37 in the previous 9-day period. On top of Fujian’s outbreak, Harbin also is seeing an unprecedented outbreak with currently 30+ confirmed cases. The capital city of Heilongjiang province is now running the second round of COVID-19 testing for all residents. Despite the worrying news from Fujian and Heilongjiang, China continues to see increasingly good figures in mass vaccination.

• China, US unveil separate commitments to fight climate change

  September 22, 2021

  The two largest carbon polluters in the world announced separate financial attacks on climate change Tuesday. President Xi Jinping said his country will no longer fund coal-fired power plants abroad, surprising the world on climate for the second straight year at the U.N. General Assembly. That shortly after U.S. President Joe Biden announced a plan to double financial aid to poorer nations to $11.4 billion by 2024 so those countries could switch to cleaner energy and cope with global warming’s worsening impacts.

• Guangdong FYP focused on deepening links between Guangdong, Hong Kong, and Macao

  September 23, 2021

  On 22 September, the General Office of the Guangdong Provincial Government announced the issuance of the “’14th Five-Year’ Plan for the Development of the China (Guangdong) Pilot Free-Trade Zone (FTZ).” The plan proposed supporting private equity funds in Hong Kong and Macao to participate in the financing of innovative enterprises in the pilot FTZ and encouraging eligible innovative enterprises in this zone to seek financing and listing in Hong Kong and Macao.

• New infrastructure action plan for the 14th FYP period

  September 24, 2021

  Premier Li Keqiang presided over the State Council’s weekly executive meeting where they adopted the “14th Five-Year Plan for New Infrastructure Development.” In the 14th Five-Year Plan period (2021-25), a large focus will be on the development of new infrastructure, underpinned by information networks and technological innovation.