China Business Now

“Common prosperity” seems to be on the agenda of the web giants’ sustainable development strategy, resonating with President Xi Jinping’s important remark on Tuesday. Tencent announced yesterday that it would set up another 50 billion yuan fund to support low-income groups, rural revitalization, as well as the medical and education system.

President Xi Jinping made this remark on Tuesday while presiding over the 10th meeting of the Central Committee for Financial and Economic Affairs. Xi has underscored the need to promote the common prosperity of all people through high-quality development and called for coordinated efforts to prevent and defuse major financial risks the nation might face. 

President Xi Jinping made this remark on Tuesday while presiding over the 10th meeting of the Central Committee for Financial and Economic Affairs. Xi has underscored the need to promote the common prosperity of all people through high-quality development and called for coordinated efforts to prevent and defuse major financial risks the nation might face. 

China's top market regulator on Tuesday released draft rules preventing unfair competition in the internet sector. The rules were drafted to maintain fair competition in the market order, protect the legitimate rights and interests of operators and consumers, and promote the standard, sustained and healthy development of the digital economy, the State Administration for Market Regulation said.

China's top market regulator on Tuesday released draft rules preventing unfair competition in the internet sector. The rules were drafted to maintain fair competition in the market order, protect the legitimate rights and interests of operators and consumers, and promote the standard, sustained and healthy development of the digital economy, the State Administration for Market Regulation said.

China's economy continued to recover in July, but industrial output and retail sales slowed down due to COVID-19 resurgence and natural disasters, official data showed on Monday. 

China's economy continued to recover in July, but industrial output and retail sales slowed down due to COVID-19 resurgence and natural disasters, official data showed on Monday. 

The People's Bank of China (PBOC) is providing another 200 billion yuan in cheap funds to banks as an incentive to boost credit in regions where lending has been lagging. The money is being allocated under a new re-lending quota for banks to support agriculture, micro and small businesses and the private sector in 10 provincial-level regions where credit has risen at a relatively slow pace, the central bank revealed in its second-quarter monetary policy implementation report. 

The People's Bank of China (PBOC) is providing another 200 billion yuan in cheap funds to banks as an incentive to boost credit in regions where lending has been lagging. The money is being allocated under a new re-lending quota for banks to support agriculture, micro and small businesses and the private sector in 10 provincial-level regions where credit has risen at a relatively slow pace, the central bank revealed in its second-quarter monetary policy implementation report. 

The Central Committee of the Communist Party of China and the State Council recently issued a five-year implementation outline for government construction under the rule of law. The outline proposed to strengthen and improve anti-monopoly and anti-unfair competition law enforcement and abolish regulations that hinder a unified market and fair competition, promoting an open and fair market system.