Weekly policy snapshot of Chinese economy

0 Comment(s)Print E-mail Xinhua, September 15, 2019
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BEIJING, Sept. 15 (Xinhua) -- The following are the key moves taken by policymakers in the past week to enhance China's economic strength and sustainability:

-- Investment quota restrictions to be cancelled

China's forex regulator Tuesday announced it will abolish the investment quota restriction for Qualified Foreign Institutional Investors (QFII) and Renminbi Qualified Foreign Institutional Investors (RQFII) to boost financial reforms and opening-up.

The QFII and RQFII programs, implemented in 2002 and 2011 respectively, allow overseas institutional investors to move money into China's capital account for investment.

-- Twelve priorities of deepening reform of capital market

China Securities Regulatory Commission has listed 12 priorities of deepening reform of the country's capital market, the country's securities regulator said Tuesday.

The country will further promote the reform of ChiNext, China's NASDAQ-style board of growth enterprises, and see faster reform in China's National Equities Exchange and Quotations, or the "new third board," according to the statement.

-- New rules on related-party transactions

China on Monday announced new rules to crack down on irregular related-party transactions of the country's insurance companies.

The regulation clarified the definition of major related-party transactions and set upper limits on the proportion of assets that insurers can invest in related parties.

-- Lists of U.S. products to be excluded from additional tariffs

China on Wednesday unveiled the first set of lists of U.S. goods to be excluded from the first round of additional tariffs on U.S. products.

The exemption will become effective on Sept. 17, according to the Customs Tariff Commission of the State Council.

-- Guideline to further stabilize hog production

China will take a string of measures to stabilize hog production and facilitate the sector's industrial upgrading to ensure pork supply.

Local governments can step up support for hog production, with enhanced prevention and control of African swine fever and promotion of modern breeding in a standardized manner, according to a guideline released by the General Office of the State Council. Enditem

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