
More recent developments

Finance ministry reports progress in tackling hidden debt
At a Friday press conference, Finance Minister Lan Fo’an discussed local governments’ progress in reducing hidden debt. Quick refresher: "Hidden debt" refers to off-balance-sheet government liabilities raised via local government financing vehicles (LGFVs) or other state-owned firms. In 2024, Beijing… Read More »

Legislature urges Beijing to stabilize tax-to-GDP ratio
The 15th Five-Year Plan (FYP) (2026-2030) should focus on stabilizing the tax-to-GDP ratio. That was one of the legislature's (NPCSC) recommendations in its Friday research report on the critical issues facing China in the next FYP period. Why it matters:… Read More »

Property investment, sales contract further in August
The slump in property sector activity is showing no signs of abating. On Monday, the stats bureau (NBS) published its property sector print for August. The headlines: New home sales by floor space fell 9.4% y/y – the eighth straight… Read More »