China business news digest

First batch of private banks to open and Amazon aims to emulate Alibaba's success.

Your daily digest of the biggest business news in China, translated and summarized every day.

China climate chief days emissions deal is about forcing structural change at home

China’s top climate change negotiator says the government wants to use international agreements to force domestic economic change, according to an interview with Caixin.

“The party central committee and the State Council are very clear about our goal. We want to use international conventions to force structural change, to engineer a shift in direction and increase the quality and efficiency of our economic development,” Xie, the deputy chairman of the National Development and Reform Commission told the magazine.  

READ MORE: What’s motivating China to join the global climate change fight?

(Caixin)

Amazon aims to emulate Alibaba success

Amazon China wants to bring ‘Black Friday Sales’ to the country following Alibaba’s stunning success with its ‘Singles Day’ record.

The company says Chinese buyers are able to buy directly from Amazon’s overseas portal, allowing them to buy international brands directly.  

(Caixin)

NDRC approves four more railway projects

China’s National Development and Reform Commission, the country’s economic planning agency, has just approved four more railway projects worth 66.2 billion yuan.  The Commission has approved more than one trillion yuan worth of railway projects since the start of this year.

Railway spending is seen as one of the most important levers for Beijing to stabilise its slowing economy.  

(Caijing)

First batch of private banks to open

The first batch of private-owned Chinese banks are expected to open at the end of this year, according to Shanghai Securities News.

(Caijing)