China’s National Development and Reform Commission (NDRC) has relaxed financing conditions for PPP (Public Private Partnership) projects. These will now be able to securitize future revenues as a mean of financing. The intention seems to be to open more financing channels to PPP, an initiative which has been promoted by the Chinese Government but that struggles to take off.
China Banking Regulatory Commission recently release its control over loal asset management companies, allowing for debt restructuring and other methods to dispose non-performing assets. This is a new opportunity investing nothing but trillions of returns for AMCs.
In September, the fiscal income increased 4.9%. Both public budget revenue and local budget increased. From Jan to Sep, national tax income has increased 6.6%, where value added tax increased 23.8% and business tax increased 24.7%.
When Michele Geraci was interviewed by CRI, he showed great appreciation for the “Innovation growth model”, which is proposed in G20, at Hangzhou, China. “The introduction of innovation in the agenda of G20 is a very positive thing, and it is the first time that we put it in the foreground of the G20, and also, it is very important that this time the G20 is held in China. It is China that is taking the lead at this meeting, and it is China that needs to change its development model and base it more on innovation.