China will intensify SOE reform to boost quality and efficiency -- China will press ahead with the reform of state-owned enterprises (SOEs) to provide a greater driving force for high-quality economic development with state capital, according to a decision made at the State Council executive meeting on December 13. The meeting, which heard a report on the reform, supervision and inspection of central SOEs by the Supervisory Board of Key Large State-owned Enterprises, decided that the management system of state-owned assets will be improved, and a list of powers and obligations on state assets supervision and management will be formulated to enable precise by-category supervision. Enterprises will be given effective autonomy in their operations as the government deepens the reform to streamline administration, enhance compliance oversight and provide better services.
Beijing Haidian to provide another 1,600 public rental houses for talents in near term -- Beijing's Haidian District will provide more than 1,600 public rental houses for talents in succession, to solve the "big living problem" for innovative talents in more than 100 technological enterprises in the district, making them settle down to fulfill their dreams. Since 2011, Haidian has provided over 10,000 public rental houses for innovative talents in more than 1,000 enterprises and institutions in the district in a bid to meet their needs for short-term house renting to varying degrees.
Chinese manufacturing district halves housing prices to keep talent -- A local district government in south China's Guangdong Province plans to build more than 30,000 apartments to be sold or rented at low prices in the next five years to retain talent. According to the government of Shunde district in Foshan City, soaring housing prices have driven many graduates and out-of-town employees away, prompting the favorable housing policy.
MIIT publicizes telecommunication and Internet network security demonstration projects -- China’s Ministry of Industry and Information Technology (MIIT) has recently publicized telecommunication and Internet network security demonstration projects in 2017.48 projects are proposed to be incorporated into telecommunication and Internet network security demonstration projects.
China regulator pledges steady opening-ups in banking sector -- China's banking regulator December 13 pledged to steadily advance opening up of the banking industry following the latest government move to widen foreign access to the financial sector. China's Vice Finance Minister Zhu Guangyao last month disclosed that the country will abolish foreign ownership restrictions in Chinese banks, which limited a single foreign investor's stake to 20 percent or less and that of total foreign ownership to 25 percent.
Chinese government allocates winter disaster relief fund -- The Chinese central government has allocated 5.7 billion yuan (about 865.6 million U.S. dollars) in relief funds to help people in disaster-hit regions get through the winter. The fund will help solve difficulties caused by disasters, including food shortages and inadequate clothing and heating, during winter and spring, according to a statement from the Ministry of Civil Affairs.
China moves to boost 3D printing -- China has moved to bolster its 3D printing sector with favorable policies from stronger fiscal support to easier financing as it counts on high-tech, emerging sectors to drive the economy. The government expects the industry to maintain an annual growth rate of more than 30 percent in the coming years and its revenue to top 20 billion yuan (around 3 billion U.S. dollars) in 2020, according to guidelines released December 13 by the Ministry of Industry and Information Technology (MIIT) and 11 other agencies.
China to step up SOE supervision -- China will step up supervision over state assets with differentiated regulatory policies for state firms and more emphasis on overseas projects. State-owned enterprises (SOEs) should strengthen the role of board of supervisors, improve corporate governance and bring in more private investment to enhance competitiveness and performance, said a statement released after a State Council meeting chaired by Premier Li Keqiang on December 13.
China stresses modern agriculture development -- China's State Council December 13 called for more efforts to foster new types of agricultural businesses in the country. Projects will be launched to support diverse business entities that integrate different industries and link to the Internet Plus strategy, said a statement released after a State Council meeting chaired by Premier Li Keqiang.
A single purchase
