A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
The Ministry of Finance of the People's Republic of China is the cabinet-level executive department of the State Council of China which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state.
Central Huijin Investment Co., Ltd. is a Chinese sovereign fund formerly owned by the government of the People's Republic of China. Established in 2003, five years later it became a wholly-owned subsidiary of China Investment Corporation, with its own Board of Directors and Board of Supervisors. Central Huijin's principal shareholder rights are exercised on behalf of the State Council. Central Huijin is an organization by which the Chinese government can act as a shareholder for the "big four" state-owned banks, thereby improving corporate governance and initiating reforms of the banking industry.
Zhou Xiaochuan is a Chinese economist. Zhou served as the Governor of the People's Bank of China from 2002 to 2018.
Zeng Peiyan is a Chinese politician. He was a member of the Politburo of the Chinese Communist Party from 2002 to 2007 and was a Vice-premier from 2003 to 2008.
Chen Yuan is a Chinese economist who is the current chairman of the China Association for International Friendly Contact (CAIFC). He was previously the chairman of the China Development Bank from March 1998 to April 2013. Chen Yuan then served as Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference from 2013 to 2018. He is the eldest son of former Vice Premier Chen Yun.
H shares refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exchanges in Shanghai or Shenzhen, they are known as A+H companies.
China Investment Corporation is a sovereign wealth fund that manages part of China's foreign exchange reserves. China's largest sovereign fund, CIC was established in 2007 with about US$200 billion of assets under management, a number that grew to US$1,200 billion in 2021 and US$1,350 billion in 2023.
Lou Jiwei, is a Chinese politician, and current director of the 13th CPPCC Foreign Affairs Committee. Lou was Chairman of China's National Council for Social Security Fund, Minister for Finance, Chairman of China Investment Corporation and Central Huijin Investment, Vice Minister of Finance of China and Vice-Governor of Guizhou.
National champions are corporations which are technically private businesses but due to governmental policy are ceded a dominant position in a national economy. In this system, these large organizations are expected not only to seek profit but also to "advance the interests of the nation"; the government sets policies which favor these organizations. The policy is practiced by many governments, in some sectors more than others, but by giving an unfair advantage against market competition, the policy promotes economic nationalism domestically and global pre-eminence abroad contrary to the free market. The policy also deters or prevents venture capitalism.
The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the People's Republic of China, directly under the State Council. It was founded in 2003 through the consolidation of various other industry-specific ministries. SASAC is responsible for managing state-owned enterprises (SOEs), including appointing top executives and approving any mergers or sales of stock or assets, as well as drafting laws related to SOEs.
The Export–Import Bank of China is one of two institutional banks in China chartered to implement the state policies in industry, foreign trade, economy, and foreign aid to other developing countries, and provide policy financial support so as to promote the export of Chinese products and services.
Pan Yiyang is a former Chinese politician who served in regional posts in Jiangxi province and Inner Mongolia. Pan served as the Communist Party Secretary of Ganzhou between 2003 and 2010, and subsequently Executive Vice Chairman of Inner Mongolia. During his tenure in the autonomous region he also sat on the Party Standing Committee of Inner Mongolia. He was placed under investigation for corruption in September 2014 and expelled from the Communist Party. Upon being convicted on charges of bribery, Pan was sentenced to 20 years in prison.
Chen Jinhua was a Chinese politician. Chen joined the Chinese Communist Party (CCP) in February 1949 and studied at Renmin University of China from 1953 to 1955 and from 1960 to 1962. From the 1950s through the 1970s, he served in positions of increasing responsibility in China's former Ministry of Textile Industry and Ministry of Light Industry. From 1977 to 1983, Chen served on the Standing Committee of the Shanghai Municipal People's Congress, as well as deputy secretary of the Shanghai CCP Committee. From 1983 to 1990, he served as the general manager and CCP committee secretary of state-owned oil company Sinopec.
The Silk Road Fund is a China Government Guidance Fund to foster increased investment in countries along the Belt and Road Initiative, an economic development initiative primarily covering Eurasia. The Chinese government pledged US$40 billion for the creation of the investment fund established on 29 December 2014.
The International Forum of Sovereign Wealth Funds (IFSWF) is a nonprofit international group of sovereign wealth funds managers which was established in 2009. It is based in London, England.
Policy banks of China, policy lenders or institutional banks refer to two Chinese banks set up by State Council of China in 1994, namely The Export–Import Bank of China (Exim) and the Agricultural Development Bank of China (ADBC). The two banks aim at implementing economic policies of the government and conducting non-profit businesses in particular sectors. China Development Bank (CDB) used to be one of such banks before its shift to a corporation in 2008.
Fan Yifei is a former Chinese banker who served as vice governor of the People's Bank of China from 2015 to 2022. He was investigated by China's top anti-graft agency in November 2022. Fan was the first ministerial-level official in China to be targeted by China's top anticorruption watchdog since the 20th National Congress of the Chinese Communist Party in October 2022.
Sovereign funds of China are mechanisms through which the Chinese state acts as a market participant with the goals of supporting key domestic economic sectors, advancing strategic interests internationally, and diversifying its foreign exchange reserves.
Peng Chun is a Chinese bureaucrat and the chairman of China Investment Corporation, one of China's sovereign funds.
