Top news of the week:

• Broad consensus reached in the BRICS Meeting

  May 23, 2022

  On May 19, State Councilor and Foreign Minister Wang Yi chaired the video dialogue of Foreign Ministers between BRICS and Emerging Markets and Developing Countries in Beijing, and Foreign Ministers from South Africa, Brazil, Russia, and India attended the meeting. Based on the joint statement, the Ministers reaffirmed their commitment to enhancing the representativeness and democracy of global governance, and increasing the participation of emerging markets and developing countries in international decision-making.

• Premier Li stresses pushing the economy back on track

  May 24, 2022

  The downward pressure on China’s economy has continued to mount, and most market players have faced difficulties and challenges. On the State Council executive meeting chaired by Premier Li Keqiang, the central government decided to deploy package of measures to stabilize the economic growth including 33 measures in six areas, namely fiscal and related areas, finance, industrial and supply chain, consumption and investment, energy security, and people’s wellbeing.

• CSRC supports the recovery of regions and industries impacted by COVID-19

  May 25, 2022

  The China Securities Regulatory Commission (CSRC) issued a guideline containing 23 detailed policies aiming to facilitate production resumption in epidemic-hit areas with the help of capital markets. As per the CSRC guideline, issuers based in areas affected by the recent COVID-19 outbreak, including Shanghai and Jilin, can respond to the financial regulators’ inquiries three months later.

• China’s real estate market is under great pressure

  May 26, 2022

  Influenced by the lack of confidence in the future among real estate companies and residents’ reduced willingness to spend on big-ticket expenditures, China’s domestic real estate industry suffered a cold period, with sales performance of several listed real estate companies declining to varying degrees. According to the annual performance targets publicly disclosed by the real estate enterprises, most have reduced their sales targets to different degrees this year compared to 2021.

• China International Big Data Industry Expo 2022 opens online in Guizhou

  May 27, 2022

  The 2022 China International Big Data Industry Expo opened online in Guizhou province, with all activities held online. With the annual theme of “Seize New Opportunities, Share Digital Value”, the one-day expo continued to adhere to the concept of “global vision, national height, industry perspective, enterprise position”. The expo focused on the national digital economy development strategy, cutting-edge hot technologies, and the transformation of innovative achievements, exploring experiences for industrial transformation and the construction of Digital China.