China has policy options to cushion slowdown: IMF

CHINA still has policy options to cushion an economic slowdown, according to Changyong Rhee, director of the International Monetary Fund’s Asia and Pacific Department.

While the world’s second-biggest economy remains on track to grow around 8 percent this year, Rhee expects that pace to slow in the years ahead given challenges that include deleveraging and an aging population. “A slowdown of China’s growth is inevitable, you cannot grow close to 8 percent forever,” Rhee said. “We have to expect China’s growth rate will moderate.”

Regulator to strengthen futures market supervision

CHINA’S securities regulator said Wednesday that it would strengthen supervision over domestic futures market and take multiple measures to curb excessive speculation.

The China Securities Regulatory Commission will adopt zero tolerance towards irregularities, step up crackdown on manipulation and other behaviors against laws and regulations, so as to maintain a good market order. The commission will continue to cooperate with other departments to monitor the futures and spot markets, stabilize market expectations, and maintain the smooth operation of the two markets.

Deals worth US$11b signed at VR conference

A TOTAL of 114 projects worth more than 70 billion yuan (US$10.9 billion) were signed at the 2021 World Conference on the VR (virtual reality) Industry (WCVRI), which concluded Wednesday.

Co-hosted by the Ministry of Industry and Information Technology and the provincial government of Jiangxi, the two-day event has been held each year since 2018 in Nanchang, the capital of eastern China’s Jiangxi Province. Enterprises including iFLYTEK, SenseTime and China Mobile have decided to invest in the province thanks to the event, according to the organizers. A total of 321 projects worth approximately 194.6 billion yuan have been signed during the WCVRI over the past three years.

Indonesia now China’s top overseas coal supplier

INDONESIA is now overwhelmingly China’s biggest overseas supplier of coal, with shipments hitting a record last month after China loosened curbs on imports to tackle its power crisis.

Cargoes of coking, thermal and brown coal from the Southeast Asian nation surpassed 21 million tons in September, from just over 17 million tons in August, and now account for about two-thirds of China’s total imports, according to customs data.