The announcement that the People's Republic of China will set up a national emissions trading market in 2017 is a game-changer that could prompt similar moves elsewhere.
The PRC has achieved remarkable economic growth, but serious imbalances between regions and areas remain. The government is aiming to bridge these gaps by developing inclusive finance tools.
The Chinese economy is slowing down, and this is likely going to have a noticeable effect on the world economy and especially globally integrated economies in developing Asia. An analysis by ADB Chief Economist Shang-Jin Wei.
Hunan, a major manufacturing hub in the PRC, recently launched a low-carbon technology incubator to offset environmental degradation and rising greenhouse emissions, and wants to become a model for developing Asia, where the business case for cleantech is emerging.
The offshore renminbi bond market has boomed since the People’s Republic of China (PRC) authorities first allowed domestic banks to issue them in Hong Kong, China in June 2007. But appetite for the paper—popularly known as “dim sum bonds”—is starting to wane as access to onshore markets becomes easier. To stay relevant, the dim sum market must develop further.
Last Friday, 7 March, 2014, Shanghai Chaori Solar Energy Science and Technology Co Ltd defaulted on its 1 billion yuan ’Chaori-11 bond‘ when it failed to pay in full the coupon due that day. The default should not have taken investors by surprise as the company has been struggling over the past few years due to general weakness in the solar panel market.
International experience has shown that fiscal policy can play a leading role in promoting a shift toward a more inclusive economic model, balanced income distribution, and improved living standards.
No one can say that the second largest economy in the world is trapped. Decades of structural change and rapid growth allowed for a swift transition from a low-income to a middle-income country. The challenge today lies in moving up to higher-income status. How could the People’s Republic of China (PRC) avoid the trap?
Increasingly, innovation is being seen as a key element in growing Asia’s economies and creating jobs.