Škoda pulls out from China  

Beijing is restructuring the way it allocates transfer payments to local governments. Some background: China's local governments collects about half of all tax revenue, but are responsible for about 80% of expenditures. They make up the shortfall with funds transferred… Read More »

One of China’s “Big Six” state-owned banks said there are tentative signs that housing demand is recovering. At its annual earnings call, Bank of Communications (BoCom) said new mortgage applications – a timely indicator for housing activity – were roughly… Read More »

Food delivery has risen to become first in line for Beijing’s anti-involution crackdown. On March 30, the market regulator (SAMR) rolled out a plan to enforce the Anti-Unfair Competition Law – the legal backbone of its anti-involution campaign. Some context:… Read More »