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.
The latest official data for September points to a cooling of China’s housing markets, with month-on-month price declines for first-tier cities and continued easing of price growth in second and third-tier urban centres.
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 central government has signalled its strong commitment to expanding the residential rental market in China’s urban centres at the the 19th National Congress of the Chinese Communist Party.
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.
Official data indicates that China’s urbanisation rate is fast approaching 60% as an increasing number of rural citizens leave the countryside to pursue economic opportunities in the city.
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.