China's main housing bubble deflator.Photo: Reuters/Nicolas Asouri/Pool
China's main housing bubble deflator. Photo: Reuters/Nicolas Asouri/Pool

Regulating the residential rental market and restraining the housing bubble are major initiatives to protect and improve people’s livelihoods, President Xi Jinping said in a report by Xinhua news agency on Wednesday night. Local governments should ensure taxation and land policies meet the needs of citizens, he said at the 14th meeting of the Central Leading Group for Financial and Economic Affairs.
习近平:从解决好人民群众普遍关心的突出问题入手 推进全面小康社会建设

Chinese companies plan plants in the US

More Chinese companies plan to set up factories in the United States, reported Securities Daily on Thursday, pointing to the start of a possible new trend as operating costs will fall in the country as the US enacts policies to attract more manufacturing jobs.

Tax to protect environment expected this week

A new tax to protect the environment will be voted on by the standing committee of the National People’s Congress, which means the law could be passed this week, reported Beijing Business Today. The law will give local governments the authority to impose taxes on environmental contaminants, though it fails to include automobile emissions.
环境税法将至 汽车征税暂缓

Beijing, Shanghai tighten ride-hailing rules

New ride-hailing guidelines released by Beijing and Shanghai on Wednesday afternoon require car drivers to be local residents and vehicles to have the city’s licence plates, said Caixin on Wednesday evening. Beijing will also impose restrictions on engine capacity and wheelbase sizes, the report said. Didi Chuxing, the major ride-hailing platform in China, welcomed the guidelines, the report said.
京沪网约车细则同步出台 户籍车籍限制不变

Cosun bond default leaves investors in lurch

Cosun Group’s 312 million yuan (US$43.16 million) bond default has left investors in the lurch about getting some of their money back, reported Caixin on Wednesday evening. Zhejiang Property Insurance, which insured the bonds, claims documents submitted by holders for payment are incomplete, but Guangdong Equity Exchange, the issuer, and Zhaocaibao, the platform where the bonds were sold, say all documents were provided — leaving investors caught in the middle.
侨兴债券违约超3亿 各方扯皮致理赔停滞