CBN丨Private sector gaining strong legal support

CBN丨Private sector gaining strong legal support
2024年12月23日 21:34 21世纪经济报道

Hi everyone. I’m Stephanie LI.

Coming up on today’s program

  • China mulls first law to protect the private sector;
  • CSRC lifts Hong Kong MRFs quota to 80%.

Here’s what you need to know about China in the past 24 hours

Chinese lawmakers are deliberating a draft of the country's first law specifically focusing on the private sector's development and protection, aiming to bolster the private economy through legal norms amid strategic reforms to optimize the business environment.

The draft, which comprises nine chapters and 78 articles, covers eight main aspects, including fair competition, improving the investment and financing environment, and scientific and technological innovation. It was submitted to an ongoing session of the Standing Committee of the National People's Congress, the country's top legislature, for deliberation on Saturday.

The issuance of the private economy promotion law was also mentioned as a key task for 2025 during the Central Economic Work Conference held earlier this month.

China has consistently been refining its legal frameworks to boost private economic development since the start of the year, with a focus on attracting investment, promoting equitable market access, and strengthening financial support across various regions and departments.

Data from the State Administration for Market Regulation shows that as of the end of September, the total number of registered private enterprises nationwide surpassed 55 million, accounting for 92.3 percent of all enterprises. In the first three quarters of this year, 6.19 million private enterprises were newly registered across the country, according to the administration.

The draft law emphasizes the implementation of a nationwide unified market access negative list system, saying that aside from areas on the negative list, various economic organizations, including private entities, will have equal access in accordance with the law.

Meanwhile, it also supports empowering capable private entities to spearhead major technological advancements, as well as advocates including private economic entities in major national scientific research infrastructure.

Greater Bay Area, Greater future

  • The China Securities Regulatory Commission has raised the sales cap of northbound Mutual Recognition of Funds, or Hong Kong-registered investment funds that can be sold in the Chinese mainland upon meeting certain requirements, to 80 percent from 50 percent. Hong Kong MRFs can be trusts, mutual funds, and other investment programs set up, operated, and publicly sold in the city under its laws and approved for sale in the Chinese mainland by the CSRC. The new circular will take effect from Jan. 1, the watchdog noted.
  • Guangzhou in China's southern Guangdong province said it has received the green light from the country's cabinet to start constructing its new airport project, which will be located in Guangzhou's neighboring city of Foshan. The plan is to achieve an annual passenger throughput of 30 million and cargo and mail throughput of 500,000 tons by 2035. The Greater Bay Area has had five major airports in a radius of less than 200 km, including the Hong Kong, Guangzhou, and Shenzhen international airports, with their respective annual passenger throughput of over 10 million.
  • From January to November this year, Guangzhou's foreign trade volume has already exceeded one trillion yuan, a year-on-year increase of 2.4 percent, according to the municipal commerce bureau. In terms of actual use of foreign investment, the Guangzhou Economic and Technological Development Zone has ranked top in the nation for five consecutive years, with a cumulative total of 362 Fortune Global 500 companies investing in Guangzhou. In the first 11 months, 7,558 new foreign-invested enterprises were established, a year-on-year increase of 26.9 percent.

Next on industry and company news

  • Shanghai Port became the world's first to see an annual container throughput of over 50 million 20-foot equivalent units yesterday, the Shanghai International Port Group said. The port has ranked first globally in annual container throughput for 14 consecutive years.
  • Nio’s third brand, Firefly, launched presales for its first EV priced from 148,800 yuan, with deliveries starting in April. The Chinese EV startup wants the brand to rival BMW’s Mini and Mercedes-Benz Smart, according to founder William Li. 
  • EHang and Changan Auto inked a deal on Saturday to ally on flying car R&D, manufacturing, sales, and operations. The partnership will leverage EHang’s eVTOLs and flight tech expertise and Changan Auto’s manufacturing strength for future mobility ecosystem innovations.
  • Shanghai Fosun Pharmaceutical is proceeding with its proposal to merge and privatize innovative drug-maker Shanghai Henlius Biotech at a cost of HKD5.4 billion. The company proposes to pay HKD24.6 for each Henlius' share listed in Hong Kong, 36.67 percent higher than the closing price of HKD18 on May 21.

Switching gears to financial news

  • Guotai Junan Securities is set to merge with Haitong Securities creating China's largest brokerage. The merger will be conducted through a swap deal where Guotai Junan issues A-shares and H-shares to all A-share and H-share exchange shareholders of Haitong Securities. Hong Kong's securities watchdog has approved Guotai Junan Securities to become the major shareholder of certain subsidiaries of Haitong Securities which are licensed corporations.
  • Tencent’s cross-border payment platform Tenpay Global recently partnered with Euronet Worldwide’s subsidiary Ria Money Transfer to allow users to transfer funds from Ria’s channels directly to digital wallet balances or linked bank accounts on Tencent’s WeChat Pay.

Wrapping up with a quick look at the stock market

  • China's benchmark Shanghai Composite fell 0.5 percent on Monday while the Shenzhen Component dropped 1 percent. Hong Kong’s Hang Seng index closed 0.8 percent higher, and the TECH index gained 0.3 percent.

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

Presented by SFC

海量资讯、精准解读,尽在新浪财经APP
0条评论|0人参与网友评论

APP专享直播

开播时间 | 1-14 10:30
海通证券徐柏乔,海富通基金成钧:周期底部的反转,技术进步的机遇
开播时间 | 1-14 10:00
银华基金:持有人大会 火!美股调整是接人吗?
开播时间 | 1-14 09:30
招商基金 叶幸明、李彩娥:走!去新兴亚洲!—— 探寻新兴亚洲的四颗明珠
开播时间 | 1-14 09:00
华夏基金:解盘一刻
开播时间 | 1-14 09:00
华安基金:ETF盘前播报:港股持续回调,如何解读?
开播时间 | 1-14 09:00
光大证券雪姐:阳光早参-量能不足万亿!何时有望反弹?
开播时间 | 1-13 20:00
创金合信基金 甘静芸:创金看市丨手握“杠铃”,震荡不愁!
开播时间 | 1-13 20:00
「财访」对话信达澳亚基金林景艺:2025量化投资新趋势
开播时间 | 1-13 19:30
富国基金:拥抱主动权益,新一轮回报周期的起点!
开播时间 | 1-13 16:00
光大证券李泉:国际机构唱多A股,顺周期板块表现活跃
开播时间 | 1-14 10:30
海通证券徐柏乔,海富通基金成钧:周期底部的反转,技术进步的机遇
开播时间 | 1-14 10:00
银华基金:持有人大会 火!美股调整是接人吗?
开播时间 | 1-14 09:30
招商基金 叶幸明、李彩娥:走!去新兴亚洲!—— 探寻新兴亚洲的四颗明珠
开播时间 | 1-14 09:00
华夏基金:解盘一刻
开播时间 | 1-14 09:00
华安基金:ETF盘前播报:港股持续回调,如何解读?
开播时间 | 1-14 09:00
光大证券雪姐:阳光早参-量能不足万亿!何时有望反弹?
开播时间 | 1-13 20:00
创金合信基金 甘静芸:创金看市丨手握“杠铃”,震荡不愁!
开播时间 | 1-13 20:00
「财访」对话信达澳亚基金林景艺:2025量化投资新趋势
开播时间 | 1-13 19:30
富国基金:拥抱主动权益,新一轮回报周期的起点!
开播时间 | 1-13 16:00
光大证券李泉:国际机构唱多A股,顺周期板块表现活跃
上一页下一页
2/10

热门推荐

9月1日正式实施!电动自行车强制性国家标准发布:要求具备北斗定位功能,不再强制安装脚踏【附电动自行车行业现状】 收起
9月1日正式实施!电动自行车强制性国家标准发布:要求具备北斗定位功能,不再强制安装脚踏【附电动自行车行业现状】

9月1日正式实施!电动自行车强制性国家标准发布:要求具备北斗定位功能,不再强制安装脚踏【附电动自行车行业现状】

  • 2025年01月13日
  • 08:50
  • APP专享
  • 广西台新闻910
  • 2,652
APP专享
要求具备北斗定位等功能,电动自行车强制性国家标准正式发布!将于9月1日实施

要求具备北斗定位等功能,电动自行车强制性国家标准正式发布!将于9月1日实施

  • 2025年01月13日
  • 05:33
  • APP专享
  • 广西台新闻910
  • 2,138
APP专享
又见银行员工涉赌,90后农商行信贷主管挪用1866万用于网络赌球获刑

又见银行员工涉赌,90后农商行信贷主管挪用1866万用于网络赌球获刑

  • 2025年01月13日
  • 05:30
  • APP专享
  • vsta
  • 1,985
APP专享
新浪财经公众号
新浪财经公众号

24小时滚动播报最新的财经资讯和视频,更多粉丝福利扫描二维码关注(sinafinance)

股市直播

  • 图文直播间
  • 视频直播间
更多>
股票简称 最新价 涨跌幅
以下为热门股票
三峡能源 4.19 +1.21%
京东方A 4.27 +2.64%
TCL科技 4.92 +2.29%
中远海控 14.49 +2.11%
格力电器 45.56 +1.47%
广告

7X24小时

  • 12-30 钧崴电子 301458 --
  • 12-30 赛分科技 688758 --
  • 12-24 星图测控 920116 6.92
  • 12-23 黄山谷捷 301581 27.5
  • 12-20 天和磁材 603072 12.3
  • 广告
    新浪首页 语音播报 相关新闻 返回顶部
    关闭
    关闭
    关闭