* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, October 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

    Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

    Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Xi Vows to Rewire China’s Finances, Help Indebted Regions

July 22, 2024
in General
Xi Vows to Rewire China’s Finances, Help Indebted Regions
Share on FacebookShare on Twitter

President Xi Jinping unveiled sweeping plans to bolster the finances of China’s indebted local governments, as the ruling Communist Party announced its long-term blueprint for the world’s second-largest economy.

China’s top leader mapped out measures for fixing the debt crisis facing regional authorities in a near-22,200 character resolution published by the official Xinhua News Agency on Sunday. Those plans centered around shifting more revenue from the central to local coffers, such as by allowing regional governments to receive a larger share of consumption tax.

Xi’s proposals mark the “third major taxation and fiscal reform” in recent history, said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc. He cited the 1994 move to increase central governments’ share of revenue over regional authorities, and a string of decisions starting in 2013 that allowed localities to issue bonds on their own, as the other major shifts.

“The central government’s income was set too high and now it’s being adjusted,” Ding said of the framework set under then President Jiang Zemin. The changes “will alleviate the imbalance between the central and local government’s spending responsibilities and income,” he added.

The yuan was little changed in early Monday trading as investors digested the plenum statement and a surprise cut to short-term interest rates.

Xi presided over a twice-a-decade conclave in Beijing this month, where some 400 senior officials endorsed his vision for advanced manufacturing to propel China’s $17 trillion economy. The resolution from that conclave signaled that while the top leader is fine-tuning policies to manage risks, no major shifts are afoot in his overarching plans. 

Chinese policymakers are under pressure to resolve local governments’ 66 trillion yuan hidden debt crisis and rebalance the economy, as foreign leaders accuse Beijing of using exports to compensate for weak demand at home. Giving a larger portion of consumption tax to regions could address both issues by incentivizing officials to lift consumer spending and offering them a new finance stream.

Slapping additional taxes on goods, however, risks stifling sentiment further among Chinese consumers already reluctant to spend due to a property slump that’s hitting their primary store of wealth. Retail sales rose at the slowest pace last month since December 2022, as China’s second-quarter growth figures undershot expectations.

Officials also pledged to give city governments more autonomy in regulating local property markets, in line with policies over the past two years that allowed localities to better arrest the housing downturn. They also vowed to build more subsidized housing, as well as reforming the pre-sale model, which has led to developers being unable to deliver millions of homes already paid for by residents.

China’s most-powerful leader since Mao Zedong said in a separate explanation that national security had been put in a “more prominent” position by the four-day conclave, suggesting its preeminence over the economy. The official resolution, however, stated Beijing would strive to “achieve positive interactions” between development and security. 

Officials also signaled a potential expansion to Beijing’s surveillance architecture, vowing to “explore and establish a national unified population management mechanism.” That marked the first use of that phrase by senior leaders. 

“Xi’s emphasis on security shows that the development is eventually aimed at protecting national security,” said Alfred Wu, an associate professor at the National University of Singapore’s Lee Kuan Yew School of Public Policy.

Investors may find their hopes were too high for the Third Plenum, he added, noting the report was mostly “sprinkling” vague measures rather than signaling concrete changes.

Markets reacted poorly to the lack of policy signals in an initial communique published after the gathering wrapped Thursday. More specific policies could be unveiled later this month by a meeting of the 24-man Politburo which focuses on economic policies for the year in July. 

Xi last used the Third Plenum to chart economic reform in 2013, when investors were waiting for the new president’s long-term vision to become clear. The top leader has since consolidated power with a precedent-defying third term and well-telegraphed his vision for weaning the nation off boom-and-bust debt cycles. That was reflected in the resolution, which served as a continuation of his long-term vision. 

Advancing “high quality development” featured prominently in the report — a vague slogan typically interpreted to emphasize the quality of economic growth over its absolute pace. It centers on Xi’s ambitions to propel China’s economy by moving up the value chain through tech innovation.

China will also strive for “revolutionary breakthroughs in technologies,” top leaders said, vowing policy improvements for developing sectors including artificial intelligence, new materials and quantum technology. The nation also pledged to develop more controllable supply chains for areas including integrated circuits and advanced materials.

Developing chips and AI is central to Beijing’s broader vision of replacing technology from the US, which is increasingly trying to ring-fence China. Economists have listed technology self-sufficiency as among the top three economic issues Chinese leaders must tackle in the medium-to-long term.

“I think the third plenum did not change the government’s policy objectives,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, “but it introduced new measures to achieve such objectives.”

With assistance from James Mayger, Yujing Liu, Lucille Liu, Josh Xiao, Tian Ying, Alan Wong, Jessica Sui and Cormac Mullen.

This article was generated from an automated news agency feed without modifications to text.

Catch all the

Business News,

Market News,

Breaking News

Events and

Latest News

Updates on Live Mint. Download The

Mint News App

to get Daily Market Updates.

MoreLess

First Published:

22 Jul 2024, 06:08 AM IST

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : LiveMint – https://www.livemint.com/news/world/xi-vows-to-rewire-china-s-finances-help-indebted-regions-11721608682083.html

Previous Post

Who Might Kamala Harris Choose as Her Running Mate?

Next Post

Gold drifts higher on softer dollar, rate-cut bets

Create Your Own Private Garden and Escape the World – Signals AZ

Design Your Own Private Garden Sanctuary and Escape the Everyday

October 8, 2025
Rethinking New York City’s Economy: “The Menace Of Prosperity” – Forbes

Rethinking New York City’s Economy: Confronting the Hidden Challenges of Prosperity

October 8, 2025
Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

October 8, 2025
Eagles Host Towson Wednesday for Mental Health Awareness Game – aueagles.com

Eagles Face Towson Wednesday in Impactful Mental Health Awareness Showdown

October 7, 2025
Trump questions back pay for federal workers furloughed as part of government shutdown – CNN

Trump Challenges Back Pay for Federal Workers Impacted by Government Shutdown

October 7, 2025
Learned use of an innate sound-meaning association in birds – Nature

How Birds Unlock Natural Sound-Meaning Links Through Learning

October 7, 2025
This Ancient Statue Was Discarded by Raiders. Scientists Think It’s a Rare Treasure. – Popular Mechanics

Forgotten by Raiders, This Ancient Statue Could Be a Priceless Treasure

October 7, 2025
Scientists used AI to map uncharted areas of the mouse brain – Live Science

Scientists Harness AI to Uncover Hidden Regions of the Mouse Brain

October 7, 2025
Pets of the Day: Sweep the clouds away with Zoe, Telly and Elmo – Yahoo

Meet Zoe, Telly, and Elmo: Your Daily Dose of Sunshine and Smiles

October 7, 2025
Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

Could Light-Speed Analog Computing Transform the Future of Technology?

October 7, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (856)
  • Economy (877)
  • Entertainment (21,750)
  • General (17,468)
  • Health (9,919)
  • Lifestyle (889)
  • News (22,149)
  • People (878)
  • Politics (888)
  • Science (16,087)
  • Sports (21,377)
  • Technology (15,857)
  • World (860)

Recent News

Create Your Own Private Garden and Escape the World – Signals AZ

Design Your Own Private Garden Sanctuary and Escape the Everyday

October 8, 2025
Rethinking New York City’s Economy: “The Menace Of Prosperity” – Forbes

Rethinking New York City’s Economy: Confronting the Hidden Challenges of Prosperity

October 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version