
More recent developments

General public budget revenue returns to growth in March, but headwinds persist
China’s government revenue improved slightly in March. Per data released by the finance ministry (MoF) on Friday, general public budget revenue – the biggest stream of government income – rose 0.3% y/y last month, reversing the 1.6 % drop recorded… Read More »

State-owned AVIC Trust placed under trusteeship
For the first time since 2001, a centrally owned trust company has entered trusteeship – a signal of mounting distress in the sector. On Friday, AVIC Trust – a unit of state-owned conglomerate Aviation Industry Corporation of China (AVIC) –… Read More »

Financial regulators issue plan to advance Shanghai’s development as international financial center, focus on RMB internationalization
China’s financial authorities are giving the renminbi another nudge toward greater global use. On Monday, the central bank (PBoC), financial regulator (NFRA), foreign exchange regulator (SAFE), and Shanghai municipal government issued an action plan to advance Shanghai's development as an… Read More »