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China now has the second-largest billionaire group worldwide, despite COVID-19 putting a dent in global wealth accumulation, according to a recent report.
China offers incentives to banks and businesses in the form of lower central bank borrowing costs and subsidized interest payments on green bonds. For the most environmentally friendly loans, the government subsidizes up to 12 percent of the interest rate.
China launched soymeal and sugar options in 2017, its first such commodity derivatives. It started copper option trading in September 2018.
China started piloting FTZs in Shanghai in 2013. The country had established 11 more in its coastal regions including Guangdong and Fujian and inland provinces such as Shaanxi and Sichuan.
China started the import of US beef in June after a 14-year absence. However, imports were limited to air freight in June and July, which pushed up the costs while failing to meet market demand.