Shanghai has achieved full coverage of foreign currency exchange services across all 16 districts, with points available in airports, star-rated hotels, commercial districts, and tourist hubs. By the end of June, services will extend to all high-star-rated hotels, announced the Shanghai head office of the People’s Bank of China (PBOC). Extensive Exchange Network As of June 11, Shanghai’s network includes …
China Economic Daily Brief – June 27, 2024
EU Calls for Dialogue on Pork Anti-Dumping Investigation EU officials are calling for dialogue with China following the Ministry of Commerce’s launch of an anti-dumping investigation into EU pork imports. The investigation could impact the EU’s pork exports, which were valued at $3.3 billion in 2023. The probe responds to the China Animal Agriculture Association’s claims that EU pork prices …
Huangshan Hosts 2024 RCEP Forum on Regional Cooperation
The 2024 RCEP Local Governments and Friendship Cities Cooperation (Huangshan) Forum was recently held in Huangshan City, Anhui Province, gathering experts and enterprises from RCEP member countries. The forum focused on the effects and prospects of the Regional Comprehensive Economic Partnership (RCEP). Key Highlights Report Release: The “Report on Development of RCEP’s Regional Cooperation 2024” was jointly released by the …
8th China-Eurasia Expo Opens in Urumqi with Focus on Trade and Investment
The 8th China-Eurasia Expo commenced on Wednesday morning in Urumqi, located in northwest China’s Xinjiang Uygur Autonomous Region. Spanning an area of 140,000 square meters, the expo features pavilions from 23 countries, three regions, and one international organization. Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan are the guest countries of honor, with Beijing, Shandong, and Sichuan as the guest city and provinces. …
China Economic Daily Brief – June 26, 2024
Beijing Lowers Downpayment and Mortgage Rates Beijing has announced new measures to boost its property market, including lowering the minimum downpayment ratios and mortgage interest rates effective Thursday. First-home buyers will see downpayment ratios drop from 30% to 20%, while second-home purchases will have reduced downpayments of 35% within the fifth ring road and 30% outside it. These measures aim …