Shanghai stole the headlines on the third day of the Communist Party’s most important meeting after its party chief confirmed plans to set up a free-trade port that would aim to ease restrictions for incoming cargo.
Here is what we learned on day three of the twice-a-decade event:
Free Trade Port
Shanghai’s stock exchange lit up Friday after Han Zheng said late the previous evening that Shanghai was preparing for a free trade port in line with central government guidelines. Eleven of the top 20 gainers on the city’s equity gauge were companies whose names begin with the word “Shanghai,” and all 11 surged by the daily limit.
America’s Chief Spy
After U. Secretary of State Rex Tillerson chided China on Wednesday, delegates woke up to praise from American’s chief spy. “We think that President Xi will come out of this in a dominant position with incredible capacity to do good around the world,” Central Intelligence Agency Director Mike Pompeo said Thursday. Pompeo also urged China to do more to rein in North Korea’s nuclear ambitions.
Central Bank Challenge
After People’s Bank of China Governor Zhou Xiaochuan tantalized on Thursday with hints of his imminent retirement, Christopher Balding, an associate professor of business and economics at the HSBC Business School in Shenzhen, spelled out the challenges facing his successor. One major task will be reforming China’s foreign-exchange policy without triggering a flood of outflows and reining in the country’s financial risk.
Weekend’s agenda
On Saturday highlights will be a 10 a. news conference by the United Front Work Department and the International Liaison Department, which has typically handled relations with North Korea. the National Development and Reform Commission meets the press.
Officials from the ministries of education, civil affairs, human resources and social security, and housing and urban-rural development will meet the press at 10 a.m on Sunday, along with the National Health and Family Planning Commission.
0 comments:
Post a Comment