BEIJING, Nov. 16 (Xinhua) -- China's central bank on Wednesday pledged intensified efforts to implement the prudent monetary policy and give stronger support for the real economy.In its third-quarter monetary policy report, the People's Bank of China said it will ensure the money supply and social financing grow at a reasonable rate to achieve better economic performance, while ruling out the possibility of 'flood irrigation.'Policy and development banks will be directed to make full use of financial instrument quotas and 800 billion yuan (about 114 billion U.S. dollars) of new...
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BEIJING, Nov. 16 (Xinhua) -- China's fiscal revenue amounted to approximately 17.34 trillion yuan (about 2.46 trillion U.S. dollars) during the first 10 months of 2022, official data showed on Wednesday.The figure represents a drop of 4.5 percent from the same period of last year, according to the Ministry of Finance.Excluding the impact of value-added tax credit refunds, fiscal revenue grew 5.1 percent from a year earlier.The central government collected about 8 trillion yuan in fiscal revenue, down 5.5 percent, and local governments collected 9.34 trillion yuan, down 3.6 percent.Tax reve...
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As the world fixes its gaze on the G20 Summit in Indonesia, a broad consensus has emerged that major economies like China and the European Union (EU) need to work together towards economic cooperation so as to facilitate global economic recovery and sustainable development.Chinese President Xi Jinping met with French President Emmanuel Macron, Dutch Prime Minister Mark Rutte and Spanish Prime Minister Pedro Sanchez in Indonesia's resort island of Bali on Tuesday. Xi said that China and the EU should adhere to the spirit of independence and autonomy, as well as openness and cooperation to p...
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A trial section of the Jakarta-Bandung High-Speed Railway (HSR) in Indonesia is now ready for alignment joint-test, China Media Group reported on Monday. A hot-running test of the catenary system of the Jakarta-Bandung HSR trial section started on November 9, marked by the slow departure of the Chinese-made electric multiple units (EMUs) from the Tegalluar Station in Bandung. The hot-running test aimed to ensure that the high-speed railway's power supply equipment has met the requirements needed to conduct a series of joint tests.With a design speed of 350 km per hour, the Jakarta-Ban...
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China has stepped up support for epidemic-hit small market players by deferring their loan repayments, according to a circular jointly released by the country's central bank and five other government departments on Monday.The principal and interest repayments on loans made to micro and small enterprises due in the fourth quarter of 2022 can be extended to June 30, 2023 at most, according to the circular.The circular said the central bank will make comprehensive use of its monetary policy toolkits to maintain reasonably adequate liquidity in the banking system, and financial regulators shou...
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2022
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