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South China Morning Post
15-05-2025
- Business
- South China Morning Post
Party journal says China can establish effective market stabilisation fund
China has the financial strength to set up a market stabilisation fund thanks to its strong economy and large foreign exchange reserves, a Communist Party journal said in an article highlighting the need to stabilise the market in uncertain economic times caused by Trump-induced trade turmoil. 'In a time of global economic instability with growing uncertainties, the establishment of a stabilisation fund can help maintain the stability of the capital market, protect the interests of small and medium-sized investors, and guard against systemic financial risks,' Study Times, the official publication of the Central Party School, the Party's top ideological training centre, said. In the article, published on Wednesday, it added that China's increased regulatory capacity made it possible to ensure the effective performance of a stabilisation fund. It said that establishing a stabilisation fund would help 'reduce irrationally high market volatility', adding that similar mechanisms had been widely tested by major economies in times of stock market panic, including the Hong Kong government's successful interventions to maintain market stability during the 1997 Asian financial crisis. The aggressive trade tactics employed by America following US President Donald Trump's return to the White House in January – especially his 'Liberation Day' announcement of so-called reciprocal tariffs on America's trading partners on April 2 – have triggered tit-for-tat escalations, rattling global markets and threatening the viability of global supply chains. Following face-to-face trade talks between Chinese and US officials in Switzerland over the weekend – the first such talks involving the new Trump administration – Beijing and Washington suspended most of the tariff increases introduced this year for 90 days from Wednesday. Negotiators are expected to conduct follow-up trade talks in the next few months.
South China Morning Post
10-05-2025
- Politics
- South China Morning Post
China's security system urged to handle duties with ‘passion' as pressures mount
China's top security officials said the country's security and law enforcement apparatus must 'shoulder their responsibility with passion' as external tensions put more pressure on China's internal stability. Advertisement 'At present, the international and domestic situations have undergone new changes, and the task of maintaining national security and social stability is arduous and onerous,' wrote Yin Bai, secretary general of the Central Political and Legal Affairs Commission, the Communist Party's top security organ, in an article on Friday. It was published on the front page of the Study Times, the journal of the Central Party School , where China's political stars are trained. The commission oversees the entire law enforcement and security system in China, which includes millions working for the police, prosecutors, courts and secretive state security agencies. 'The people's higher expectations for fairness, justice, peace and security have put forward new requirements for the building of the political and legal team,' he wrote. He acknowledged that the security and law enforcement systems still had 'many inadequacies' in work discipline, coordination, ability and quality to meet the demands of the tasks they faced. He ordered the Chinese law enforcement system to swear 'absolute loyalty' to the party led by President Xi Jinping, 'resolutely follow the party's decisions, and resolutely avoid what the party prohibits'. Advertisement He also reiterated the need to purge corruption from the law enforcement system, and vowed to stop the practice of 'profit-driven law enforcement' – a reference to cases in which police have crossed provincial borders to seize cash and assets from companies as many local governments faced a shortage of funds.
