Chinese regulators announced plans to expand the registration-based IPO system across the A-share market on Wednesday, in an effort to expand the capital market and ratchet up the ratio of direct financing to meet the needs of economic development.
Chinese mainland stocks mounted a remarkable rally on Monday, the first trading day of the year of the Rabbit, with a benchmark surging to a near bull market, despite a pullback later in the session, as market sentiments are evidently buoyed by a better-than-expected travel and spending spree during the Spring Festival holidays.
The GDP of Dongguan, a manufacturing and export powerhouse in South China’s Guangdong Province, is expected to hit 1.1 trillion yuan ($157.77 billion) this year, media reported on Wednesday, citing official an estimate.
Chinese local governments have moved to hand out consumption vouchers lately to stimulate domestic demand, as stores reopen amid the optimization of COVID-19 responses. Economists expect retail consumption will significantly rebound after the first quarter of 2023.
Chinese cities issue consumption coupons to boost spending; rapid recovery expected pakobserver.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pakobserver.net Daily Mail and Mail on Sunday newspapers.