
More recent developments

Beijing to set quota for private investment in major infrastructure projects
Beijing is about to establish minimum private investor participation requirements for major projects, such as in rail, nuclear power, and oil and gas pipeline development. The move, approved at Friday's State Council executive meeting, is one of a handful of… Read More »

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 »