Business tax is replaced with VAT across sectors

The State Council released a decade-long manufacturing strategy for innovation, quality and industrial upgrading. It reflected a state-led effort to move up global value chains rather than accept a...

The PBOC adjusted how the daily central rate was set, linking it more closely to the previous day’s market close and supply and demand. This expanded market signals in exchange-rate formation but...

The IMF decided that the renminbi would join the Special Drawing Rights basket from October 2016. The move marked international recognition of China’s trade and financial weight, while also reflecting...

The annual conference made supply-side structural reform a central economic policy framework for 2016, including capacity cuts, deleveraging, destocking, cost reduction and stronger weak links. The...

The NPC approved a plan emphasizing innovation, poverty reduction, services and more balanced growth, while retaining national planning as a central coordinating tool. Its targets guided investment...

China used the presidency to promote innovation, structural reform and inclusive global growth. As a former target of externally imposed economic rules, it increasingly shaped global economic...

The second major stock-market link extended cross-border investment channels and reinforced Hong Kong’s intermediary role. The program permitted controlled flows across markets but stopped short of...

China expanded its free-trade-zone experiment beyond Shanghai to inland and coastal provinces. This spread administrative and trade-policy experimentation across regions, supporting selective...

The Congress shifted official emphasis from rapid growth toward quality, innovation and coordinated development. It reaffirmed party leadership over economic policy and positioned technological...

The State Council announced a central committee to coordinate financial regulation across agencies. Its creation responded to risks created by rapid credit growth and complex shadow banking,...