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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- China launched a two-year market reform pilot in 10 key economic zones, covering over 25% of its GDP, and reported a potential 1,500-ton world-class gold mine in Liaoning.
- Mexico plans a 50% tariff on Chinese goods, prompting China's opposition; WeRide will debut autonomous minibuses in Belgium in late 2025.
- China and Indonesia introduced a QR code payment system; China to open the world’s longest direct flight (Shanghai-Buenos Aires); US inflation rose 2.9% in August.
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Who’s Who
- WeRide
- WeRide, an autonomous driving company, has launched its Robobus in Leuven, Belgium. This expands its European presence beyond France, Spain, and Switzerland. Public road testing with a safety operator begins mid-September, with trial operations expected from mid-November 2025 to January 2026, marking Belgium's first commercial autonomous vehicle deployment in a complex traffic environment.
- Vanke
- Vanke has stated that it has no outstanding offshore public bonds that mature before the year 2027. This information appeared in the "Companies" section of the "NEWS SUMMARY" within the provided article content.
- Starbucks
- The sale of Starbucks' China business is in its final stage, with four bidders making the shortlist: HongShan and Boyu Capital are among them.
- HongShan
- HongShan (also known as Sequoia China) is among the four shortlisted bidders for Starbucks' China business. The sale process for Starbucks' China operations has advanced to its final stage with multiple interested parties vying for the acquisition.
- Boyu Capital
- Boyu Capital is one of four shortlisted bidders for Starbucks' China business. The sale of Starbucks' China operations has entered its final stage, with other bidders including HongShan.
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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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