06 Nov 2025
More recent developments
December 6, 2025
China streamlines cross-border transactions with unified QR code trial
Making payments in China will soon become easier for foreigners. ICYDK: In July, the central bank (PBoC) launched a pilot program to bring domestic QR code payment platforms under a common technical framework known as the “unified gateway.” The goal… Read More »
December 6, 2025
Guangdong hands more tax revenue to lower-level governments
The Guangdong provincial government is bolstering lower-level government revenues. ICYDK: A bunch of taxes are collected at the county-or city-level, with revenues then transferred to provincial level authorities based on fixed revenue-sharing ratios, which vary by tax category. In October, Guangdong… Read More »
December 5, 2025
Consumer goods trade-in program running out of steam
China’s consumer goods trade-in program is running out of steam. Per data released by the commerce ministry (MofCom) on December 3: Over the past month, the trade-in program has supported RMB 100 billion in retail sales. For comparison, the program… Read More »