Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg

China’s new credit rating system will even monitor people’s utility bill payments

  • System developed by central bank to help government better control debt likely to be introduced soon, state media says
  • But prevalence of shadow banking means official databases can only know part of the story, analyst says
Topic |   China economy

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Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg
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The future of the World Trade Organisation is threatened by a fundamental divide among its members. Photo: Reuters

China refuses to give up ‘developing country’ status at WTO despite US demands

  • Beijing calls the special and differential treatment a ‘fundamental right’, says it will not cede to Donald Trump’s demands on World Trade Organisation reform
  • China says it will team with other developing members, including India, South Africa and Venezuela, to win the battle over future of WTO
Topic |   US-China trade war

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The future of the World Trade Organisation is threatened by a fundamental divide among its members. Photo: Reuters
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