Chinese financial regulators will continually encourage commercial banks to develop innovative debt instruments and replenish capital, in order to meet regulatory standards and strengthen their ability to absorb losses, said senior officials.
China's property development remains bullish this year despite tightening measures, and total real estate investment in the first 11 months has surpassed that of the whole of 2017, according to official data.
The further development of the Guangdong-Hong Kong-Macao Greater Bay Area is expected to lead to a more robust retail property market in Guangzhou, heightening the short supply.
State Grid Corp of China, the world's largest electricity utility company, announced on Tuesday that it would engage social capital in the construction of and investment in ultra-high-voltage (UHV) power transmission projects, among a number of other measures to accelerate mixed-ownership reform.
China's reform and opening-up will not only benefit the country and its people, but help contribute new growth momentum and facilitate changes to the global economy in many aspects, said officials and business leaders from home and abroad.
Chinese monetary policy will be targeted to better serve real economic growth and buffer economic downside risks next year, in order to avoid aggressive credit expansion, according to policy advisors.
As California-based Tesla Motors Inc will start partial production in Shanghai in the second half of next year, and Boeing delivered first airplane from its Zhoushan facility in China earlier this month, business leaders believe that stable China-US relations will help more companies from the United States maintain robust growth in China.
It is imperative that commercial banks conduct digital innovation and transformation, as emerging fintech companies are eroding bank profits in their core business such as payments, consumer lending and wealth management, McKinsey & Company said in its latest banking industry report.
The central leadership's call for more efforts to accelerate the commercial use of 5G networks will inject new vitality into China's ongoing manufacturing upgrade push, analysts said on Tuesday.
As 2018 draws to an end, China's imports are expected to surpass $2 trillion, a record high.
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Raymond Zhou
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