The bold zero-tariff plan that could settle the US-China trade war in Beijing’s favour

At a time when Beijing and Washington are escalating their trade war by imposing higher tariffs on each other, it is probably counterintuitive for anyone, let alone a former senior official, to encourage China to speed towards the endgame goal of long-term free trade by embracing the “zero for zero” solution: zero tariffs, zero subsidies, and zero non-tariff barriers.But when that former official is Huang Qifan, until 2016 the mayor of Chongqing – one of China’s four directly administered… Source link

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China’s e-commerce start-ups lose favour with private equity funds as Beijing-backed chip makers steal their thunder, study finds

E-commerce and internet-related companies have lost their lustre with private equity (PE) funds as Beijing’s support for chip makers and high-end equipment businesses, considered the backbone of the country’s manufacturing sector, have made them more appealing to investors, according to Bain & Co.A survey carried out by the global consultancy found that only 15 per cent of private equity funds focusing on China picked online retail and internet businesses among their top three investment… Source link

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Taxi crashes into woman crossing Jalan Besar junction when traffic light is in her favour, Singapore News

SINGAPORE – A taxi hit a woman while she was crossing the road at the junction of Kitchener Road and Jalan Besar on Sunday morning (April 14). Police said they were alerted to the accident at 9.42am, and that they are investigating the incident. The female pedestrian declined to be taken to hospital, police added. It is understood that her injuries, if she had any, were not serious. In a video provided to citizen journalism site Stomp, the Comfort taxi can be seen turning left at the junction even though…

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Citic officials confident decision to edge away from housing market, in favour of commercial, is correct

Hong Kong’s Citic Capital, one of the biggest real estate investors in China, insists its decision to withdraw from the red-hot housing market and focus more on commercial sites over the past two years is reaping rewards, as Chinese central government efforts continue to ease runaway prices and tighten mortgage credit. Citic officials say the U-turn is linked to those two factors, but also that it foresaw a strong correction on the way, in a market where prices have been on hyper-drive for years. “Morale in the industry has dipped…

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China welcomes fair competition, does not favour state companies over private sector, foreign firms, government adviser says

It is China’s policy to treat foreign firms, private domestic companies and state-owned enterprises equitably, a senior official from a government think tank said on Sunday, while adding that Beijing will continue to strengthen the public sector despite criticism at home and abroad. “State-owned firms do a great job [in terms of contributing to the economy],” Long Guoqiang, vice-president of the Development Research Centre of the State Council said, adding that with the help of reforms their potential could be “unleashed”. Chinese President Xi Jinping’s show of support for state-owned…

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