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context:<\/strong> Few cybersecurity documents came out in 2018, but the state has been stepping up implementation of the 2016 Cybersecurity Law<\/a> in recent months, as experts highlight the need for a comprehensive data defense system.<\/a> <\/em>SAMR has revised cybersecurity standards<\/a>, MPS has released a new set of data security guidelines, <\/a>and CAC is calling for comment on data security management measures.<\/a> <\/em><\/p>\n\n <\/div>\n context:<\/strong> Few cybersecurity documents came out in 2018, but the state has been stepping up implementation of the 2016 Cybersecurity Law<\/a> in recent months, as experts highlight the need for a comprehensive data defense system.<\/a> <\/em>SAMR has revised cybersecurity standards<\/a>, MPS has released a new set of data security guidelines, <\/a>and CAC is calling for comment on data security management measures.<\/a> <\/em><\/p>\n Cyber Administration of China (CAC) is calling for comment on \u2018Cybersecurity review measures\u2019 until 24 Jun 2019. The draft requires critical information infrastructure (CII) operators to file risk reports\u00a0when purchasing products and services and occurrence reports if<\/p>\n A new Cybersecurity Review Office (CRO), set up under the National Internet Information Office, will administrate the process. Upon receiving a risk or occurrence report, CRO will in principle complete preliminary reviews within 30 days, considering<\/p>\n CRO will then send its verdict to reviewers, who have 15 work days to comment. If they raise an issue, CII operators will be notified that a special review procedure will be started, which in principle should be finished in 45 work days. The whole process should take 90 working days, excluding extensions.<\/p>\n\n <\/div>\n context: <\/i><\/b>Slow growth is motivating the state to increase public spending and stabilise domestic demand and employment. In the run-up to the Two Sessions, National People\u2019s Congress <\/span><\/i>expedited C\u00a51.39 tn local borrowing quota<\/span><\/i><\/a> for quick delivery of fiscal stimulus. There has been a vibrant public debate over the merits of <\/span><\/i>fiscal deficit exceeding 3 percent.<\/span><\/i><\/a> This lower-than-expected budget deficit signals central prudence in fiscal expansion.\u00a0<\/span><\/i><\/span><\/p>\n\n <\/div>\n context: <\/i><\/b>Slow growth is motivating the state to increase public spending and stabilise domestic demand and employment. In the run-up to the Two Sessions, National People\u2019s Congress <\/span><\/i>expedited C\u00a51.39 tn local borrowing quota<\/span><\/i><\/a> for quick delivery of fiscal stimulus. There has been a vibrant public debate over the merits of <\/span><\/i>fiscal deficit exceeding 3 percent.<\/span><\/i><\/a> This lower-than-expected budget deficit signals central prudence in fiscal expansion.\u00a0<\/span><\/i><\/span><\/p>\n The 2019 government work report set the fiscal deficit at 2.8 percent, 0.2 percentage points higher than last year. C\u00a52.15 tn of special local bond quota has been approved, marking a C\u00a5800 bn increase y-o-y. The report also allows local governments to sell debt swap bonds to alleviate interest burdens. This moderate rise in the deficit comes from consideration of fiscal revenue and special bond issuance, and leaves policy space for the future, says Li Keqiang \u674e\u514b\u5f3a premier.<\/span><\/p>\n The report promised to invest C\u00a5800 bn in general railways, and another C\u00a51.8 tn in highway and waterways, key water reserve projects, the Sichuan-Tibet railway, intercity railway, logistics, urban facilities, disaster control, and civil aviation. Localities need fiscal enhancement to reasonably expand investment; the central government explicitly supports compliant borrowing and forbids illicit financing, says Huang Shouhong \u9ec4\u5b88\u5b8f State Council Policy Research Bureau director and lead author of the report. Implicit debt growth is being curbed, and existing implicit debt is shrinking, adds Huang. <\/span><\/p>\n The report also fleshed out a combination of inclusive and structural tax cuts, including lowering VAT for manufacturing from 16 to 13 percent, and construction and transportation from 10 to 9 percent, plus tax returns for other industries. Tang Dajie \u5510\u5927\u6770 \u00a0Wuhan University visiting researcher estimates total VAT cut of C\u00a5713.2 bn based on 2018 tax revenues. Tax rebates incentivise market participants, and increasing government investment will boost domestic demand, says Liu Shangxi \u5218\u5c1a\u5e0c Chinese Academy of Fiscal Sciences president.\u00a0<\/span><\/p>\n Consistent with previous high-level meetings, growth strategies from the government work report include context:<\/strong>\u00a0China-US conflict made 2018 a difficult year for export-oriented manufacturing sectors, although front-loading means<\/a> impacts will only become visible in 2019. Attacks on ZTE, Huawei and Made in China 2025 galvanised resolve to end reliance on foreign technologies. <\/em><\/p>\n\n <\/div>\n context:<\/strong>\u00a0China-US conflict made 2018 a difficult year for export-oriented manufacturing sectors, although front-loading means<\/a> impacts will only become visible in 2019. Attacks on ZTE, Huawei and Made in China 2025 galvanised resolve to end reliance on foreign technologies. <\/em><\/p>\n Added value of above-scale manufacturing firms grew 6.3 percent y-o-y to meet 2017 goals, said Ministry of Industry and IT (MIIT) at its annual work conference. The meeting did not set new growth targets, reports 21st Century Business Herald<\/em>. It did set priorities for 2019<\/p>\n context: <\/em><\/strong>While the overall tone remains \u2018all is well under the Party\u2019s leadership,\u2019 the annual top-level economic conference touched upon some of the most pressing challenges facing the economy in 2019. Determined to turn the unfavourable environment into opportunities, the state is providing the best possible top-level design, but the extent to which it can be implemented at local level remains a big question.\u00a0<\/em><\/p>\n\n <\/div>\n context: <\/em><\/strong>While the overall tone remains \u2018all is well under the Party\u2019s leadership,\u2019 the annual top-level economic conference touched upon some of the most pressing challenges facing the economy in 2019. Determined to turn the unfavourable environment into opportunities, the state is providing the best possible top-level design, but the extent to which it can be implemented at local level remains a big question.\u00a0<\/em><\/p>\n Central Economic Work Conference (CEWC) convened on 19-21 December 2018, with all seven Politburo standing members participating. Ahead of the upcoming 70th anniversary of the country\u2019s establishment, the meeting discussed the following priorities for 2019<\/p>\n\n
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Source<\/h4>\n
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\n \n prudent fiscal expansion for targeted and mild stimulus\n <\/a>\n <\/h2>\n
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Source<\/h4>\n
\n 21st Century Business Herald (2)<\/a>\n
\n Jiemian (1)<\/a>\n
\n Jiemian (2)<\/a>\n
\n <\/div>\n <\/div>\n <\/li>\n Sectors<\/h4>\n
\n \n industrialisation and information technology work conference\n <\/a>\n <\/h2>\n
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Source<\/h4>\n
\n 21st Century Business Herald<\/a>
\n <\/div>\n <\/div>\n <\/li>\n Sectors<\/h4>\n
\n \n CEWC pep talk for a tough year ahead\n <\/a>\n <\/h2>\n
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