Divergent development points to catch-up potential China’s economic growth is on a downward trend,having slowed steadily to 6.6%in 2018 from a peak of 14.2%in 2007.While the slowdown is a nationwide phenomenon,growth...Divergent development points to catch-up potential China’s economic growth is on a downward trend,having slowed steadily to 6.6%in 2018 from a peak of 14.2%in 2007.While the slowdown is a nationwide phenomenon,growth in the south has outpaced that in the north in recent years;and within the southern region,new engines of growth are emerging and surpassing the country s traditional growth-driving regions.展开更多
Policy flexibility to absorb external shocks China seems to be striving for the best but preparing for the worst in dealing with the trade stand-off with the US.The tariff truce agreed by both countries at G20 indicat...Policy flexibility to absorb external shocks China seems to be striving for the best but preparing for the worst in dealing with the trade stand-off with the US.The tariff truce agreed by both countries at G20 indicates motivation to reach a trade deal.China has committed to further liberalization and protection of IP to prevent supply chain relocations due to protracted trade friction.Pragmatists in the Trump administration appear to have gained the upper hand for the moment as worries about a fading fiscal stimulus and higher tariffs are causing a slump in the stock market.However,a deal is anything but assured.展开更多
Headroom for consumption The government is increasingly looking to consumers to sustain growth.With return on credit-driven investment diminishing and a worsening foreign trade environment,the government recently intr...Headroom for consumption The government is increasingly looking to consumers to sustain growth.With return on credit-driven investment diminishing and a worsening foreign trade environment,the government recently introduced several measures to support consumption,including lowering the tax burden on low-income groups.We think Chinese consumers have great potential to spend more on goods and services,and policies aimed at reducing income disparity,improving housing affordability and strengthening social security could facilitate a transition toward a consumption-led economy.展开更多
China offers much more than the“new economy”Which industries will benefit from China’s transition to a consumptionand efficiency-led growth model?To answer this question,most people focus on the so-called“new econ...China offers much more than the“new economy”Which industries will benefit from China’s transition to a consumptionand efficiency-led growth model?To answer this question,most people focus on the so-called“new economy”,which encompasses strategic emerging industries such as new energy,new materials,biotechnology,high-end equipment manufacturing,new-energy vehicles,next-generation information technology,and energy-efficient and environment technology.The size of the new economy stood at about 15.7%of China’s GDP in 2017,according to the National Bureau of Statistics(NBS).展开更多
China’s legislature passed the Individual Income Tax (ⅡT) revision bill in August, and aims to partially enforce the new code from October. The key revisions include a consolidated tax on selected sources of income,...China’s legislature passed the Individual Income Tax (ⅡT) revision bill in August, and aims to partially enforce the new code from October. The key revisions include a consolidated tax on selected sources of income, an increase in the basic deduction to CNY 5,000 from CNY 3,500, an adjustment in tax brackets favoring lower-income groups,and the introduction of special supplementary deductions. The new law is expected to reduce the tax burden on individual taxpayers, especially low-and middle-income groups, and improve income distribution.展开更多
Trump's tariff on solar panels was matched by China's sorghum probe,raising fears of a trade war We expect U.S.-China trade frictions to intensify this year,as bilateral imbalances continue to widen Section 30...Trump's tariff on solar panels was matched by China's sorghum probe,raising fears of a trade war We expect U.S.-China trade frictions to intensify this year,as bilateral imbalances continue to widen Section 301 remedies appear more harmful for China,relative to impending steel and aluminium tariffs We expect a measured response from China,focusing on展开更多
Aiming to join the highincome club within five years The Chinese Communist Party(CCP)released its Proposals for formulating the 14th Five-Year Plan(2021-2025)and the 2035 vision on 3 November 2020.Leaders are aiming t...Aiming to join the highincome club within five years The Chinese Communist Party(CCP)released its Proposals for formulating the 14th Five-Year Plan(2021-2025)and the 2035 vision on 3 November 2020.Leaders are aiming to raise the GDP per capita to the level of a“moderately developed country”by 2035;it appears confident that doubling the GDP within 15 years to achieve this is feasible,but has stopped short of making this an official target.展开更多
文摘Divergent development points to catch-up potential China’s economic growth is on a downward trend,having slowed steadily to 6.6%in 2018 from a peak of 14.2%in 2007.While the slowdown is a nationwide phenomenon,growth in the south has outpaced that in the north in recent years;and within the southern region,new engines of growth are emerging and surpassing the country s traditional growth-driving regions.
文摘Policy flexibility to absorb external shocks China seems to be striving for the best but preparing for the worst in dealing with the trade stand-off with the US.The tariff truce agreed by both countries at G20 indicates motivation to reach a trade deal.China has committed to further liberalization and protection of IP to prevent supply chain relocations due to protracted trade friction.Pragmatists in the Trump administration appear to have gained the upper hand for the moment as worries about a fading fiscal stimulus and higher tariffs are causing a slump in the stock market.However,a deal is anything but assured.
文摘Headroom for consumption The government is increasingly looking to consumers to sustain growth.With return on credit-driven investment diminishing and a worsening foreign trade environment,the government recently introduced several measures to support consumption,including lowering the tax burden on low-income groups.We think Chinese consumers have great potential to spend more on goods and services,and policies aimed at reducing income disparity,improving housing affordability and strengthening social security could facilitate a transition toward a consumption-led economy.
文摘China offers much more than the“new economy”Which industries will benefit from China’s transition to a consumptionand efficiency-led growth model?To answer this question,most people focus on the so-called“new economy”,which encompasses strategic emerging industries such as new energy,new materials,biotechnology,high-end equipment manufacturing,new-energy vehicles,next-generation information technology,and energy-efficient and environment technology.The size of the new economy stood at about 15.7%of China’s GDP in 2017,according to the National Bureau of Statistics(NBS).
文摘China’s legislature passed the Individual Income Tax (ⅡT) revision bill in August, and aims to partially enforce the new code from October. The key revisions include a consolidated tax on selected sources of income, an increase in the basic deduction to CNY 5,000 from CNY 3,500, an adjustment in tax brackets favoring lower-income groups,and the introduction of special supplementary deductions. The new law is expected to reduce the tax burden on individual taxpayers, especially low-and middle-income groups, and improve income distribution.
文摘Trump's tariff on solar panels was matched by China's sorghum probe,raising fears of a trade war We expect U.S.-China trade frictions to intensify this year,as bilateral imbalances continue to widen Section 301 remedies appear more harmful for China,relative to impending steel and aluminium tariffs We expect a measured response from China,focusing on
文摘Aiming to join the highincome club within five years The Chinese Communist Party(CCP)released its Proposals for formulating the 14th Five-Year Plan(2021-2025)and the 2035 vision on 3 November 2020.Leaders are aiming to raise the GDP per capita to the level of a“moderately developed country”by 2035;it appears confident that doubling the GDP within 15 years to achieve this is feasible,but has stopped short of making this an official target.
