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Screenshot of a breaking news alert e-mail from Q2 2017
CFFEX, SSE and SZSE take stake in Pakistan Stock Exchange
Recently, China Financial Futures Exchange (CFFEX), Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), Pak China Investment Company Limited and Habib Bank Limited as a consortium have won the bid to purchase a 40% stake in the Pakistan Stock Exchange. The three exchanges will hold 30% of Pakistan Stock Exchange’s shares. The investment is conducive to broadening of the economic and financial cooperation between the two countries and facilitates the implementation of the Initiatives of One Belt One Road and China-Pakistan Economic Corridor. The investment puts new contents in the traditional friendship between China and Pakistan.
China issues white paper on transport development
State Council Information Office issued a white paper on the country’s transport network, reviewing the sector’s changes in past decades and setting goals for its further expansion. The white paper, titled “Development of China’s Transport,” said the sector should quicken its pace of development, and fully play its basic role as a vanguard for completing the building of a moderately prosperous society in all respects in 2020. The country is aiming to build a comprehensive transport network that spreads from east to west and south to north, construct passageways that extend beyond its borders, and develop sea routes for the 21st-Century Maritime Silk Road in a five-year period (2016-2020), said the white paper. By 2020, China will have 30,000 km of high-speed railways, covering 80% of big cities, and 30,000 km of newly renovated expressways.
China’s business index improves in 4Q: central bank
Chinese businessmen reported better operational conditions for the fourth quarter of 2016 and were more confident about the broader economy, said the central bank. The business index grew to 52.6 percent from 50.3% in the third quarter and the profitability index rose to 57.1 percent from 54.7%, according to a survey by the People’s Bank of China (PBOC). In addition, the economic vitality index and the economic confidence index improved over the previous quarter, indicating a brighter outlook. A separate PBOC survey found that Chinese bankers also thought economic vitality had recovered between October and December. According to the survey, 81.1% of the polled bankers said monetary policy was “proper,” up from 78.2% in the third quarter. China’s economy has been stabilizing in recent months. Although full-year statistics have yet to be released, all indicators suggest the country is on track to meet its GDP target of 6.5 to 7% in 2016.
China vows to boost foreign investment
China is opening more sectors to foreign investment along with measures to level the playing field. Chaired by Premier Li Keqiang, an executive meeting of the State Council approved a new guideline to further attract foreign investment and advance China’s opening-up.
We should take measures with great effectiveness in attracting foreign capital,” Li stressed.
The new guideline emphasizes equal treatment for foreign investors, and no additional restriction is allowed. According to the new guideline, foreign investment access hurdles will be dropped in a number of manufacturing sectors, including rail transport, motorbikes and ethanol fuels. Foreign capital will have access to energy, water conservancy, environmental protection and utilities via franchise agreements. Catalog for industrial access for foreign investors will be amended to match the new measures. Foreign capital will be encouraged to enter the high-end manufacturing industry, as well as manufacturing-related services, such as industrial design and modern logistics.