Business Brief (Sep. 12): China Launches Sweeping Market Reform Pilot
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China launches broad market reform pilot in key economic zones
The State Council has approved a two-year pilot program for comprehensive market-based reform in the allocation of production factors in 10 areas. The regions involved accounted for more than a quarter of China’s national GDP in 2024. The reforms cover traditional factors like land, labor, and capital, as well as innovative factors such as technology and data.
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What Happened When
- 2024：
- The regions involved in China's market reform pilot accounted for more than a quarter of China’s national GDP.
- 2025：
- The State Council of China approved a two-year pilot program for comprehensive market-based reform in the allocation of production factors in 10 areas.
- 2025：
- Mexico announced plans to impose a 50% tariff on goods from countries including China.
- 2025：
- China’s central bank and the central bank of Indonesia launched a bilateral local currency settlement mechanism and interconnected QR code payments.
- 2025：
- China will add HPV vaccination services for eligible girls to its national free and mandatory immunization program.
- 2025：
- The sale of Starbucks’ China business entered its final stage, with four bidders making the shortlist.
- 2025：
- The European Union is considering a program to support small cars to counter growing competition from Chinese automakers.
- August 2025：
- The U.S. consumer price index rose 2.9% year over year, while the month-over-month increase was 0.4%.
- Sept. 11, 2025：
- WeRide announced its Robobus has launched in Leuven, Belgium.
- Mid-September 2025：
- Public road testing of WeRide Robobus with a safety operator is scheduled to begin in Leuven, Belgium.
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