Sunday, October 25, 2020
Tags Chinese consumption

Tag: Chinese consumption

State Council Flags Support for “New Consumption,” Reduction in Payment Processing Fees

China's top government authority has issued a new directive flagging plans to drive the growth of "new consumption" via a range of...

Consumer Finance Customer Numbers in China Rise 52.29% in 2019

A new report on the consumer finance sector in China points to a surge in customer numbers in 2019.

Beijing Flags Multiple Measures to Spur Rebound in Chinese Consumption

China's National Development and Reform Commission (NDRC) has flagged the launch of a slew of measures to help drive a rebound in...

Agricultural Bank of China Cooperates with UnionPay on Issuance of Consumption Vouchers

Big state-owned lender Agricultural Bank of China (ABC) is working with payments giant China UnionPay to issue government consumption vouchers to help...

Retail Sales of Consumer Goods Drop 19% in First Quarter of 2020

China saw a sharp drop in retail sales of consumer goods in the first quarter of 2020 as a result of efforts...

UnionPay Helps Issue over $56 Million in Digital Consumption Vouchers Across China

Payments giant China UnionPay is helping local authorities to issue consumption vouchers to stimulate lacklustre regional economies in the wake of the...

Ministry of Industry Working on Consumer Policies to Spur Vehicle Ownership

China's Ministry of Industry and Information Technology (MIIT) has flagged the launch of new policies to bolster vehicle consumption in the wake...

Big State-owned Banks Cut Rates for Consumer Loans in Response to Coronavirus

China's big state-owned banks have been slashing rates for consumer loans since February in order to whet the appetite of customers still...

Beijing Issues New Directive on Mitigating Coronavirus Impacts by Spurring Consumption

The Chinese central government is stepping up efforts to keep the economy afloat following the coronavirus outbreak with the issuance of a...

Consumption the Biggest Driver of China’s Economy for 6th Year Straight, Service Consumption Exceeds 50% for First Time

Official data points to the sustained role of consumption as the primary driver of growth in the Chinese economy.

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Fintech Giant Lufax Pursues USD$2.36 Billion Stateside IPO

Chinese fintech giant Lufax has revealed more details on its plans to pursue an initial public offering (IPO) in the US despite...

China to Increase Qualified Domestic Institutional Investor Quota by around USD$10 Billion

China's forex administration has announced a further increase to the foreign investment quota for qualified domestic institutional investors (QDII).

Zhou Xiaochuan Weighs in on Internationalisation of the Renminbi at 2020 Financial Street Forum

Zhou Xiaochuan, the former head of the Chinese central bank, has voiced his opinions on the near-term prospects for the internationalisation of...

PBOC Launches Fintech Research Centre, Calls for “Comprehensive Increase” in China’s Fintech Competitiveness and Influence

A senior official from the People's Bank of China (PBOC) has called for the country to further drive efforts for the development...