Premier Li Qiang on Friday presided over a State Council executive meeting that deployed the work to replicate and promote measures of pilot initiatives taken in the development of the China (Shanghai) Pilot Free Trade Zone.
The meeting also reviewed reports on constructing a new model for real estate development and advancing the construction of high-quality housing, and approved an implementation plan to make further improvements to the credit repair system.
Measures to optimize the centralized procurement of pharmaceuticals and medical supplies were also discussed.
The meeting highlighted the importance of making good use of the experience of the China (Shanghai) Pilot Free Trade Zone, which fully aligns with high-standard international trade and economic rules, to release institutional innovation dividends on a broader scale.
Priority should be given to advancing pilot initiatives that enterprises and the public need urgently, according to the meeting.
The meeting called for assessments of the land supplied for real estate across the country as well as ongoing projects.
It also underscored the need to optimize existing policies through a multi-faceted approach, aiming to stabilize expectations, stimulate demand, improve supply and mitigate risks, alongside a strengthened push to reverse the downturn and stabilize the real estate market.
The meeting also highlighted the need to expedite the improvement of the credit repair mechanism, thereby assisting entities with credit issues to rebuild their trustworthiness more effectively.
It also stressed the importance of enhancing quality supervision across the entire production, circulation and usage chain of pharmaceuticals and medical supplies.
Chinese premier chairs meeting on pilot free trade zone
Chinese premier chairs meeting on pilot free trade zone
Wholly foreign-owned public fund management companies in China have launched a series of new products since the beginning of this year, in efforts to tap into the country's growing asset management market that has kept opening up wider to foreign investment.
Since January, a total of nine wholly foreign-owned public fund managers in China, including Neuberger Berman, Fidelity, and J.P. Morgan Asset Management, have launched a range of 31 new products, with a total issuance scale of about 35.9 billion yuan (around 5 billion U.S. dollars). The number of new products has increased by 138 percent year on year, while the issuance scale has grown by 43 percent.
Bond funds have emerged as a key focus for these foreign-owned asset management firms, with new launches covering a range of subcategories such as medium-to-long-term pure bond funds, hybrid bond funds, and passive bond index funds.
In the equity field, foreign management firms are also rolling out enhanced index funds, reflecting growing confidence in China's long-term stock market potential.
"Earlier this year, we launched two new public funds, including China's first index-enhanced public fund based on the CSI A500 Index, which reflects China's new quality productive forces. The fund raised over 1.4 billion yuan (around 195.1 million U.S. dollars) in its initial offering," said Xu Yixian, deputy general manager of Neuberger Berman Fund Management (China) Co., Ltd.
Launched last year, the CSI A500 is a stock index that embraces leading firms from emerging sectors, aiming to better represent China's high-quality growth and offer options for investors seeking medium- to long-term exposure to China's economy and stock market.
Global fund managers are also moving quickly to tap into the popular Hong Kong stock market through Stock Connect, a mutual market access program through which investors in the Chinese mainland and Hong Kong can invest in stocks and Exchange Traded Funds (ETFs) in each other's markets.
"In June, we launched a fund that invests in the Hong Kong stock market through Stock Connect schemes, focusing specifically on sectors related to new quality productive forces," said Meng Qiao, Fidelity's Investment Strategy Director.
Foreign-owned public funds expand in China with over 30 new products since beginning of 2025
