China’s reform of state-owned companies (SOEs) should not be seen by some people as an opportunity for profiting from state assets, the Communist Party’s mouthpiece warned on Monday. SOEs suffered huge losses during reforms in the 1990s as corrupt officials benefitted from selling the assets at prices far below market levels. Source: SCMP
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Singapore stands ready to partner China to jointly build the Belt and Road Initiative, Singapore’s Minister for National Development and Second Minister for Finance Lawrence Wong said on Tuesday. Source: China Daily
Cambodian authorities have signed an $880 million contract with Chinese companies, allowing the latter to build a new international airport in Siem Reap next year. Source: People’s Daily
The International Monetary Fund increased its estimate for China’s average annual growth rate through 2020, while warning that it would come at the cost of rising debt that increases medium-term risks to growth. China’s economy will expand at an average pace of 6.4% annually from 2017 through 2020. Source: China Economic Review