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Important news
在线翻译:
szdaily -> Business
At a Glance
    2017-December-26  08:53    Shenzhen Daily

Industrial output

THE country’s industrial output is likely to grow around 6 percent next year, the government said yesterday.

China’s industrial output is also expected to rise about 6.5 percent this year, which would be the first gain in the growth rate since 2010, the Ministry of Industry and Information Technology said in a statement on its microblog.

Corruption risks

THE Central Commission for Discipline Inspection yesterday urged the country’s State-owned enterprises to guard against the risk of corruption in their overseas entities.

The regulator said it had published guidelines instructing State firms how to deal with risks that could arise from their overseas personnel and decision-making. “Party committees and discipline inspection groups at every State enterprise must stick to the highest standard of Party discipline and deeply understand the importance and urgency of controlling overseas risks,” it said in a statement on its website. The aim was to “ensure the safety of China’s assets, make our State enterprises strong and excellent,” it said.

Shadow banking curb

THE banking regulator has banned lenders from using trust firms to skirt regulations and cover up risk in the government’s latest effort to crack down on shadow banking.

In a statement on its website, the China Banking Regulatory Commission (CBRC) said commercial banks must not divert funds into real estate, local government financing vehicles or the stock market through partnership with trust firms, or sign any under-the-table deals with them to skirt rules. At the end of June, assets managed by China’s trust industry totaled 23.1 trillion yuan (US$3.51 trillion), nearly five times as big as five years ago.

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