China changes the renminbi exchange-rate regime

The No. 1 Central Document focused on farmers’ incomes and rural development after the urban-coastal growth surge. It signaled that rural inequality and weak public services were constraints on the...

The central government announced direct subsidies and tax relief for grain production as part of a new rural policy. The shift redirected some public support toward farmers after decades of...

The amendment recognized citizens’ lawful private property and expanded legal security for property holders. It reflected the growth of private wealth and business, while leaving collective land...

The central bank raised benchmark lending and deposit rates for the first time in several years to restrain investment and inflation. Monetary tightening showed continued state intervention in...

China launched a pilot to address the split-share structure that left many state-owned shares non-tradable. The reform was intended to align shareholder incentives and deepen capital markets;...

The Standing Committee voted to repeal the agricultural tax, ending a long-standing fiscal burden on farming households from 2006. The change recognized rural grievances and strengthened rural...

The end of the tax marked a major reversal in the fiscal relationship between state and peasants. It relieved one burden on farm households but did not eliminate other local fees or structural...

The policy waived tuition and miscellaneous fees in western rural schools as part of a phased national rollout. It addressed unequal access to education, although school quality, household costs and...

The Sixth Plenum adopted proposals emphasizing social development, public services and more balanced growth. The agenda acknowledged costs associated with rapid marketization, but implementation...

China completed a major banking-services transition under its WTO accession commitments, allowing foreign banks broader access to local-currency business. The opening expanded competition and...