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Another key measure of re-balancing is de-stocking. The property sector, an industry with a high inventory, saw over 602 million square meters of property unsold by the end of September, down by nearly 9 million square meters from a month earlier.
Another factor contributing to SGCC's profitability and increasing presence in overseas projects is that Chinese companies have low construction costs, he said.
Ant Group, which runs China's ubiquitous payment app Alipay, is setting up a consumer finance company in the southwestern city of Chongqing, adding a new heavyweight to China's booming consumer finance market.
Another state, South Carolina, will see billion in exports subject to retaliatory tariffs, with lawn mowers and steel and iron products the hardest-hit.
Ann Cairns, president of Mastercard's international operations, makes a point at a roundtable at the Singapore FinTech Festival in November last year. [Photo provided to China Daily]
