Beijing’s plan to recruit more tax officers next year is drawing attention from businesses and wealthy families as tax compliance rises up the policy agenda and authorities intensify enforcement efforts. China’s 2027 national civil service recruitment plan includes 24,013 tax-related positions, accounting for more than 67 per cent of all vacancies, up from over 65 per cent a year earlier. Most of the vacancies are at the State Taxation Administration’s local branches, which are recruiting staff...

Starbucks China says it will roll out its “purchase before seating” rule nationwide starting Thursday, with corresponding signs put in stores, following a similar policy it introduced at its North America stores last year. The Seattle-based coffee chain would prioritise helping visitors in need, such as pregnant women and people with limited mobility, and would continue to foster its stores as so-called third places, it said in a statement on Wednesday. The policy has sparked widespread...

As China’s housing market downturn enters its fifth year, global investment banks including Goldman Sachs and Citi say they expect the sector to pivot as soon as 2027, with expectations fuelled by signs of shrinking supply and robust sales over the National Day holiday in early October. Citi holds a positive view on the sector and saw 2027 as a pivotal year for home price recovery in Beijing, Shanghai and Shenzhen. Home prices in China hit their lowest point in June 2024, according to...

Chinese pharmaceutical companies are ramping up global expansion and the sector, set to sustain rapid growth with the upcoming third-quarter earnings releases, could see a further lift in market sentiment, analysts said. In the first three quarters, domestic innovative drugs accounted for 80 per cent of all innovative medicines approved in China, according to the Ministry of Industry and Information Technology. “Research progress has been made across multiple therapeutic areas including...

Hong Kong’s retirement system remains one of Asia’s stronger performers this year, ranking second and trailing only Singapore. The two remain clear regional leaders, ahead of Malaysia, mainland China, Taiwan, Japan and South Korea, according to a report. The city retained its B grade, with its score edging up from 70.6 to 71.2, ranking 16th globally out of 55 systems, according to the annual Marsh CFA Institute Global Pension report by Marsh, a New York-based global professional services firm,...

Hong Kong’s retirement system remains one of Asia’s stronger performers this year, ranking second and trailing only Singapore. The two remain clear regional leaders, ahead of Malaysia, mainland China, Taiwan, Japan and South Korea, according to a report. The city retained its B grade, with its score edging up from 70.6 to 71.2, ranking 16th globally out of 55 systems, according to the annual Marsh CFA Institute Global Pension report by Marsh, a New York-based global professional services firm,...

The China Securities Regulatory Commission (CSRC) has approved 18 actively managed exchange-traded funds (ETFs), which could channel tens of billions of yuan into the A-share market, as it seeks to strengthen investor confidence and market resilience. Speaking on Monday in Beijing at the opening ceremony of the Financial Street Forum, one of China’s top national-level economic conferences, CSRC chairman Wu Qing also pledged to crack down on market irregularities as the regulator pushes to manage...