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Chinese parents with school- and college-going children snap up properties overseas
Chinese enterprises in general reported prosperity rebounds, with the PMI of large enterprises up 1 point from the previous month to 50.9, back in the expansion zone.
Chinese policymakers understand the problems with investments of low efficiency, which come at the cost of a sharp rise in the debt of local governments and State-owned enterprises. "Instead, they are adopting a different style of fiscal stimulus: tax cuts, for both households and corporations," said Zhu Haibin, JPMorgan chief China economist and head of China equity strategy.
Chinese companies, as well as the government, are showing greater interest in innovation-related projects, he said. The government has already been involved in Hungary's Extreme Light Infrastructure project, which aims to investigate the interactions of light and matter with high intensity, he said. The project is expected to have a significant impact on materials science, medicine and environmental protection.
Chinese autistic children receive dolphin therapy in Sochi, Russia. [PHOTO BY REN QI/WANG YUYUN/CHINA DAILY]
