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China plans to woo overseas listed Chinese firms, especially major tech companies such as Tencent Holdings Ltd, Alibaba Group Holding Ltd, Baidu Inc, JD and NetEase Inc, back to the domestic A-share market with the introduction of the Chinese depositary receipts system. CDRs, similar to American depositary receipts, allow domestic investors to hold shares in companies listed overseas.
China supports innovation and development of platform enterprises and enhancing their international competitiveness, as well as the common development of public- and private-owned economies. But at the same time, companies should operate in accordance with the law and improve their digital rules, said Liu Junhai, a law professor at Renmin University of China who was quoted in the report.
China plans to roll out more measures to stabilize consumption growth as external pressure and downward headwinds impact on car sales and trade.
China released its first national standards on the use of English in public service areas on Tuesday, in an effort to check misuse of English in public services and provide better services to English speakers.
China vows to reduce the tax burdens and social insurance contributions of enterprises by nearly 2 trillion yuan this year. [Photo/VCG]
