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A tale of China s economic resilience should be retold - People s Daily Online en.people.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.people.cn Daily Mail and Mail on Sunday newspapers.
To stabilise the economy while shoring up innovation and green development, China’s leadership is taking a more heavy-handed approach to financial governance.
China’s State Council has told local governments the imposition of heavy fines as a means of generating revenue would not be tolerated, putting those offices in a bind as traditional funding sources have dried up.
The Central Financial Commission has vowed to keep policies in line with international rules and avoid jarring turns in regulation in an attempt to reverse or mitigate 2023’s precipitous drops in stock value and foreign investment.