Beijing has so far refrained from implementing a large-scale infrastructure construction programme, but did announce in March a 2 trillion yuan (US$291 billion) business tax cut to help stabilise the economy. Photo: Xinhua

China issues new rules on infrastructure financing due to implicit debt concerns

  • Restrictions on financing by public-private partnership comes after the government eased rules last month regarding the funding of local infrastructure projects
  • Beijing wants to boost local infrastructure projects while also avoiding the debt excesses of the past amid the trade war with the United States
Topic |   China economy

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Beijing has so far refrained from implementing a large-scale infrastructure construction programme, but did announce in March a 2 trillion yuan (US$291 billion) business tax cut to help stabilise the economy. Photo: Xinhua
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The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 49.4, down from 50.2 in May. Photo: Reuters

China factory activity contracted in June as US trade war tariff increase in May starts to bite

  • Caixin/Markit Manufacturing Purchasing Managers’ Index fell to 49.4 in June from 50.2 in May, its lowest reading since January
  • Like official PMI released on Sunday by the National Bureau of Statistics, private survey data show manufacturing sector contracted in June
Topic |   China economy

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The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 49.4, down from 50.2 in May. Photo: Reuters
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