People’s Bank cuts rates as monetary easing begins

The earthquake devastated communities and infrastructure, leading to a large state-directed reconstruction program. Recovery mobilized public resources but also raised questions about relocation,...

By mid-2008 the subsidized rural health program covered all provincial-level regions. Broader enrollment improved access to reimbursement, but financing levels and medical services still differed...

The law began regulating monopoly agreements, abuse of dominance and concentrations of business operators. Its implementation tested how competition rules would apply to private firms, foreign...

The bankruptcy of Lehman Brothers accelerated a global contraction that sharply reduced demand for Chinese exports. The crisis exposed the risks of relying on external markets and export...

The government announced a 4 trillion yuan package focused on infrastructure, housing, transport and social projects to counter the global downturn. It sustained growth and employment, but leaned...

Revised tax rules prepared a shift from production-type toward consumption-type VAT, allowing deductions for equipment purchases from 2009. The change lowered firms’ tax costs and supported...

The VAT reform took effect nationwide, reducing the tax burden on equipment purchases and encouraging modernization. It supported productivity and recovery, but investment incentives did not...

The plan promised broader basic health coverage, public health services and more accessible care. It responded to the commercialization and uneven quality of health provision, but implementation and...

The pilot allowed selected firms to settle cross-border trade in renminbi, reducing reliance on foreign currencies and extending China’s financial reach. Internationalization remained managed and...

The pilot introduced a basic old-age pension for rural residents, funded through public subsidy and individual contributions. It extended social protection beyond formal urban employment, but...