In January 2016, the Bank of Japan announced keeping its quantitative easing steady and added the negative interest rate as a monetary policy tool. Strangely, right after the policy announcement, the Japanese yen reversed course and started a drastic rise.
It has just been over a year since Chinese President Xi Jinping announced the China-Pakistan Economic Corridor (CPEC) during his inaugural state visit to Pakistan in April 2015. The Pakistani port of Gwadar will commence full operations by the end of 2016. Gwadar is essential to CPEC as it will connect CPEC with shipping on the Arabian Sea.
The 21st Century Maritime Silk Road plan, along with subtle management tactics and reconsideration of regional customs, sheds light on how the South China Sea issue can be redressed, by providing an alternative that goes beyond the over-politicized and overtly-judicialized hurdles.
In December 2015, China announced a plan to address the fragmented structure of tax collection between the State Tax Bureau and the Local Tax Bureau. An updated information sharing system for tax management, the Golden Tax project, is going to be built up in 2016.
China’s government debt has reached a historical high, causing deep concern among economists, investors and policy-makers worldwide over China’s fiscal sustainability. The Chinese government has recently adopted a precautionary fiscal policy to avoid over-accumulation of government debt.
China’s three financial sector regulators are launching major reviews of new innovations implemented in the past few years that have been blamed for the chaos in the financial sector in the second half of last year and early this year.
China’s State Council issued a guideline for urban development on February 21. It states that “in principle, no more enclosed residential compounds will be built. And existing residential compounds will gradually have their interior streets integrated into the public road network.”