The “Made in China 2025” plan has seen more than USD$1 billion invested in artificial intelligence and strategic tech sectors since its launch in 2015.
The former CEO and co-chief investment officer of US investment giant PIMCO says that the Chinese economy is unlikely to meet with a Minsky Moment financial crash.
The Chinese Communist Party is moving further away from its origins as a Marxist-Leninst organisation, with explicit praise of the spirit of enterprise at its 19th National Congress as well as the participation of an increasing number of private business people as delegates.
Key organs of China’s central government said they will take measures to significantly strengthen the country’s welfare and social security system over the next five years.
The head of the People’s Bank of China said that the Chinese economy could succumb to a “Minksy Moment” crash in asset prices if regulators fail to take greater pains to curb market excesses and debt.
China’s asset management sector saw surging growth in 2016, despite a modest decline in revenues and profit rates for the global sector.
China’s GDP growth has eased by 0.1 percentage points in the third quarter compared to the strong performance posted in the first half of 2017.
The latest data from China’s National Bureau of Statistics points to an ongoing expansion in the service sector’s share of economic output.
A researcher from one of China’s leading economic think tanks has called for the establishment of a “scientific assessment framework” that would cast a more favourable light upon the country’s burgeoning debt levels in the wake of sovereign credit ratings downgrades by Moody’s and S&P.
China’s central bank has reaffirmed its determination to promote the internationalisation of the Chinese yuan.