The Economy
- When Chinese central bank governor Zhou Xiaochuan speaks, the market listens. As China walks the economic tightrope of balancing steady growth, facilitating restructuring and combating deflation risks, Zhou said there may be room for flexibility despite consistent championing of a prudent monetary policy.
- The Belt and Road initiatives, China's ambitious trans-Eurasia and across-ocean trade strategy, are among the most extensively referenced topics during the ongoing annual parliamentary session.
- One senior central banker said Thursday that China is "actively communicating" with the International Monetary Fund (IMF) on the possibility of including Chinese currency yuan, or RMB, in the basket of the Special Drawing Rights (SDRs).
- China is mulling new policies for Internet finance, central bank governor Zhou Xiaochuan said Thursday.
- A prudent monetary policy has not been changed, as this year's M2 growth target is still moderate, said Zhou Xiaochuan, governor of the People's Bank of China, at a press conference during the two sessions on Thursday.
- China's new yuan-denominated lending in February hit 1.02 trillion yuan (166.7 billion U.S. dollars), up 376.8 billion yuan from one year earlier, official data showed on Thursday.
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Possibility of full interest rate liberalization 'very high' this year
Chinese central bank governor Zhou Xiaochuan said Thursday that the possibility for China to fully liberalize its interest rates mechanism is "very high" this year.
- The Ministry of Finance's one trillion debt swap line has been assigned to local governments, regional delegates to China's annual parliamentary session said on Thursday.
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China's cross-border capital flows normal: central bank governor
Speculative capital flows do exist in China but a "vast majority" of the country's cross-border capital flows are associated with normal trade and investment activities, central bank governor Zhou Xiaochuan said Thursday.
- Chinese central bank governor Zhou Xiaochuan said Thursday that China is sticking to the prudent monetary policy despite the use of a string of new monetary policy tools.
- Li Yanhong, CEO of Baidu Inc., said he has proposed the development of a national-level artificial intelligence program .
- The "Belt and Road" initiatives will be a major part of China's diplomatic efforts in 2015. Find out why in our infographic.
- The central government has ordered a swap plan amounting to 1 trillion yuan ($160 billion) of low-yield municipal notes that will replace legacy liabilities, a move intended to ease local governments' mounting interest repayment pressure.
- New Zealand is expecting strong demand for its 2015-16 Working Holiday plan for Chinese citizens, which opens for application on May 19, according to the country's immigration office.
- Stocks of high-technology and startup companies will likely get a boost with the planned launch of a trading link between the exchanges in Hong Kong and Shenzhen, home to many Chinese information technology and software enterprises.
Highlights of the Sessions >>
- Full text: Report on China's central, local budgets
- Full text: Report on China's economic, social development plan
- Full text: Report on the Work of the Government (2015)
- Highlights of work report of Supreme People's Court
- Highlights of China's gov't work report for 2015
- Big data on China's rule of law
