China’s leaders are bracing for shocks to the economy from higher tariffs threatened by U.S. President-elect Donald Trump once he takes office.
To help rev up an economy bogged down by a property crisis and disruptions during the pandemic, the ruling Communist Party is rolling out a slew of measures to get Chinese consumers and businesses to spend more money and counter a slump in the Chinese currency and stock prices.
The recycling that began last year has led to the replacement of 6.5 million fuel-powered vehicles with electrics and hybrids since June, officials of China's main planning agency said Wednesday.
Local officials have been warned not to conduct unjustified “arbitrary inspections” that interfere with normal business, Hu Weilie, a vice minister of Justice, told reporters Tuesday according to state media reports.
The official Xinhua News Agency said new rules are meant to prevent abuse of power, arbitrary seizures of assets and unjustified orders to halt production.
