China to Strengthen Local Government Debt Management A draft budget report released today from the annual parliamentary session states that the country will establish a standardized mechanism for debt financing by local governments to improve the market-based pricing system for local government bonds.
NPC Deputy Who Raises Tiger Resigns Yang Wenzheng, who illegally raised a tiger has resigned from his position of the Qingdao's local committee deputy of the National People's Congress. He was also fined 3000 yuan (about 500 USD), in East China's Shandong province on Thursday, reports dzwww.com.
China to Trial Shenzhen-HK Stock Connect Chinese Premier Li Keqiang says a Shenzhen-Hong Kong Stock Connect program is to be launched on a trial basis "at an appropriate time," as part of the government effort to deepen financial reform.
China to Issue Guidelines for Web Finance Companies Chinese authorities are working on new guidelines for the development of the Internet finance sector. The central bank is to take the lead in formulating the guidelines and establishing a regulatory framework for the sector.
Huawei and Intel Collaborate on Public Cloud Computing Chinese telecom giant Huawei is now working with US chip giant Intel on cloud computing. The two are working on a project to create new servers, a data center, software and cyber security for a global cloud-computing network.