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China's central bank issued the final version of the tightened asset management regulation on Friday, banning guarantees on investment products' fixed-yield returns and limiting leverage levels to curb potential financial risks.
China's Minister of Finance Liu Kun said in an interview the proactive fiscal policy will prioritize four areas, namely cutting taxes and fees, improving weak links, boosting consumption, and improving people's livelihood.
China will hold the fifth World Internet Conference (WIC) this November in the river town of Wuzhen, eastern China's Zhejiang province. [Photo/VCG]
China's State-run banking system is criticized for being inefficient, but it has given many millions the opportunity to save conveniently and safely. China's long-term emphasis on manufacturing gave young people the steady incomes they needed to invest in themselves. And, local government officials who are graded on economic growth and poverty reduction have a strong incentive to help people escape poverty.
China will release a draft on Chinese depositary receipt rules after the two sessions, news web portal NetEase reported, citing China International Capital Corporation.
