It is expected that foreign investors in banking, securities and insurance will soon be able to own larger shares in joint ventures and expand the scope of their businesses in the Chinese market
When Washington announced plans to raise tariffs on a list of Chinese imports worth US$50 billion in early April, the US trade representative office specifically said the items are identified as those that “benefit from Chinese industrial policies, including Made in China 2025.”
China’s insurance regulator announced on February 23 that it had seized control of Anbang Insurance Group and that its chairman, Wu Xiaohui, had been charged with financial crimes that included illegal fund-raising, fraud and embezzlement. The regulator said it would run the company for a year.
Last year, China saw its annual GDP growth rate increase for the first time since 2010, new economic development data from China’s National Bureau of Statistics shows.
On December 28, the Communist Party of China (CPC) convened its Central Economic Work Conference, an annual meeting set to outline the priorities of China’s economic policies of the year to come.
This year, China will hasten the pace of housing reform, create a way to mitigate financial risk and control macro-leverage, and reorient financial services toward the real economy.