Communist Party

September 27, 2024 3:07 PM

China launches late stimulus push to meet 2024 growth target

China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull economic growth back towards this year's roughly 5% target. More fiscal measures are expected to be announced before China's week-long holidays starting on Oct. 1, after a meeting of the Communist Party's top leaders showed an increased sense of urgency about mounting economic headwinds. Reuters reported on Friday, citing sources, that ...

September 11, 2024 12:19 PM

Lawmakers review plan to raise retirement age in fast-greying China

China's top legislative body this week assessed an official plan to delay the country's retirement age, among the world's lowest, taking a key step towards changing decades-old labour laws and easing economic pressures stemming from a shrinking workforce. The ruling Communist Party said in July that China would gradually raise the country's retirement age. The retirement age is now 60 for men, about six years below that in most developed economies, while for women in white-collar work it is 55,...

July 19, 2024 3:57 PM

China reaffirms lofty policy goals, offers no implementation details

Chinese leaders reiterated their wide-ranging economic policy goals on Thursday, from modernizing industry to expanding domestic demand and curbing debt and property sector risks, without detailing implementation steps. The pledges were published in the official news agency Xinhua's account of a key meeting of the Communist Party's Central Committee led by President Xi Jinping, known as a plenum, which takes place roughly every five years. The report said Beijing wanted to improve social secur...

May 24, 2024 11:40 AM

China’s second day of war games around Taiwan tests ability to ‘seize power’

China's military carried out a second day of war games around Taiwan on Friday, with drills to test its ability to "seize power" and control key areas in exercises Beijing has said were launched to punish Taiwan's new President Lai Ching-te. The two days of drills in the Taiwan Strait and around groups of Taiwan-controlled islands near the Chinese coast, which a Taiwanese official said included the mock bombing of foreign vessels, started just three days after Lai took office. Taiwan has condem...