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More prudent regulations to come for China’s sharing economy, says Premier Li Keqiang

Chinese Premier Li Keqiang says more prudent regulations will need to be adopted to help grow the country’s sharing economy, which has sparked public concern after years of being a magnet for major venture capital investments.“Like any new business, [the sharing economy] has its ups and downs,” said Li in a press conference on Friday to mark the conclusion of the annual gathering of China’s parliament. “But in general, it creates jobs, brings convenience to people and drives the development of… Source link

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China’s central bank pledges prudent monetary policy and ‘basically stable’ yuan

China’s central bank will maintain a prudent monetary policy and keep the Chinese currency “basically stable” while offering “reasonably ample” liquidity to the market. A statement following a quarterly meeting of the People’s Bank of China’s (PBOC) monetary policy committee did not include the previously-used “neutral” to describe Chinese policy – an omission that could indicate a greater bias for easing at a time growth is slowing. Also, the latest statement did not include a reference to China’s deleveraging campaign. Three months ago, the PBOC said it would control the…

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