Guangzhou unveils major housing subsidy to stabilise property market

Guangzhou is implementing measures to support its property sector by introducing financial incentives for residents purchasing new homes. The Municipal People’s Government General Office has issued a comprehensive package of eight initiatives designed to stimulate demand for housing and stabilise the market, according to the Xinhua news agency. A key part of the programme is …

China shields firms from US sanctions, creating ‘compliance squeeze’ for banks

Beijing has moved to formally shield five mainland companies from US secondary sanctions linked to Iran oil transactions, setting up a rare, open confrontation between Chinese law and Washington’s extraterritorial measures that now threatens to pull banks into the crossfire. The news was carried in both Chinese and Western media reports. China’s Ministry of Commerce …