Xi Jinping stresses aims ahead of party congress

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Photo: Asia Times

China’s head of state said in a high level workshop that the party must “stress what banner it wants to fly, what path it wants to take” ahead of the country’s top leadership shuffle later this year, Caixin reported. President Xi was referring to the need to emphasise socialism with Chinese characteristics and greater confidence in the party’s work, saying that “great progress” has been made since the last party congress five years ago.
习近平:党要明确宣示举什么旗、走什么路

Party workforce to focus on local government debt

Yang Weimin, deputy director of the Central Leading Group on Financial and Economic Affairs, said that tackling the risks from local government debt will be the focus of the workforce for the later half of this year, Caixin reported. The workforce, which is the Communist Party’s top unit on economic policies, said that strengthening supply side reforms, reforming the “chaos” in the financial sector, stabilising property prices, ensuring that outbound and domestic investments are stable and improving the lives of the people are the other priorities, Caixin reported.
中财办副主任:下半年将限制地方债风险

China’s major telcos to stop roaming charges

China Mobile, China Telecom and China Unicom will stop long distance roaming charges within China effectively from September 1, the Paper reported. The move comes a month ahead of the schedule set by the State Council in March this year.
电信联通移动三大运营商宣布:9月起取消手机国内长途漫游费

NEEQ sees penalties soar in July

Twenty listed companies, six securities companies and five institutional investors were punished by the National Equities Exchange and Quotations (NEEQ), also called the “New Third Board,” in July, the Securities Times reported. Another 480 listed companies were punished by the NEEQ over their failure to meet disclosure obligations in the first half of 2017, accounting for more than half of the penalties.
新三板强化监管 主办券商频领罚单

State Council to ban foreign garbage

Foreign garbage will be entirely banned from entering the country by the end of 2017, Yicai reported, according to a decision of the State Council. The country will also phase out imports of solid waste, which can be replaced by domestic resources, by 2019. The importation of solid waste from overseas has caused great damage to the environment and people’s health, the report added.
国办:年底前全面禁止进口环境危害大的固体废物

New chairman appointed at Commercial Aircraft Corp

The state-owned Commercial Aircraft Corporation of China Ltd, manufacturer of the C919 passenger jet, announced on Thursday that He Dongfeng has been appointed as the chairman, as well as the company’s party secretary representative, the Paper reported. He was previously the general manager of the company. Other than He, the company also saw six other top level managerial changes, the report added.
中国商飞主要领导调整:贺东风任董事长、党委书记

Stock exchanges strengthen connections

The Shanghai Stock Exchange will raise the proportion of direct financing while the Shenzhen Stock Exchange will stick to strict delisting rules to improve the quality of companies on the Second Board market, the Securities Times reported. The two exchanges promised to promote the bidirectional opening of capital markets and guard against market risks, as per recommendations from the mid-year national work conference on securities and futures.
沪深交易所推进资本市场双向开放

LeEco founder’s shares frozen by authorities

Embattled technology conglomerate LeEco said on Thursday that the shares of Jia Yueting, its founder, are now effectively frozen by the authorities, the Shanghai Securities Journal reported. The notice came after the Beijing No.3 Intermediate Court froze Jia’s shares in the company. Jia’s assets were frozen by a Shanghai court early last month, the report added.
乐视网:贾跃亭所持公司股份被全部冻结

Beijing-Shanghai bullet trains to speed up

China plans to raise the speed of its Beijing-Shanghai high-speed bullet trains, the Fuxing Hao, to 350 kilometers per hour in September, Sina Finance reported. The bullet train will reduce the connection time between Beijing and Shanghai to around four and a half hours, with no rise in ticket prices. Insiders say the 350 km/h standard will not apply to all high-speed trains.
京沪高铁9月起时速提至350公里 提速初期不上调票价

State Council backs entrepreneurship

The State Council issued a notice on Thursday highlighting the drive for entrepreneurship in China, the Shanghai Securities Journal reported. The notice said that China would push for more highly skilled technicians and to speed up the “realisation” of research and development efforts, the report said, although details were not provided.
国务院发布进一步推进大众创业万众创新深入发展意见

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