Logo 22 Apr 2026

CCTV takes aim at local governments’ race-to-the-bottom investment attraction practices

Subscribe to keep reading.

Sign up to stay briefed on what the Chinese government is doing, thinking, and saying.

Try it free

Already a subscriber? Log in.

The race-to-the-bottom in local government investment attraction just got a prime-time takedown. On April 21, CCTV exposed how local governments are using excessive subsidies and "policy depressions" to compete for investment projects, highlighting failed EV ventures in Yichun, Jiangxi province, and...



More recent developments

Logo April 22, 2026
Xi Jinping talks up energy and trade with Mozambican president

China’s got its eyes on the energy exporters of the future. On April 21, Xi Jinping met with Mozambican President Daniel Chapo in Beijing. ICYDK: China is bullish on Africa – and is eager to deepen the economic ties that… Read More »

Logo April 22, 2026
State Council sets RMB 100 trillion goal for the services sector

"Serve the people" is getting an industrial policy makeover. On April 21, the State Council issued guidelines on expanding and upgrading the services sector, setting a goal for total services output to exceed RMB 100 trillion by 2030. Some context: The… Read More »

Logo April 22, 2026
Financial Law draft raises concerns over regulatory overreach

China’s upcoming Financial Law has raised industry concerns that it could give regulators unchecked power. ICYDK: Last month, the Ministry of Justice (MoJ) and financial-sector regulators released a draft of the Financial Law. The law is intended to be China’s… Read More »