Updated
Updated · Xinhua · Aug 21
China Orders Action on Next-Gen Networks and Overdue Payments at State Council Meeting
Updated
Updated · Xinhua · Aug 21

China Orders Action on Next-Gen Networks and Overdue Payments at State Council Meeting

2 articles · Updated · Xinhua · Aug 21

Summary

  • Beijing set new policy tasks at a State Council executive meeting chaired by Premier Li Qiang, covering next-generation communications networks, overdue payments to enterprises, air quality and several draft regulations.
  • The meeting said China will coordinate terrestrial, space-based, international and integrated networks, while expanding smart-device use, developing applications in smart cities and intelligent manufacturing, and tightening protection of critical infrastructure and data.
  • Overdue corporate payments were a second priority, with the cabinet urging faster clearance and telling local governments to better use special-purpose bonds and special relending facilities; it also called for tougher action against unfair competition and tighter oversight of non-cash payment tools.
  • Air-quality measures included stronger fiscal, financial and pricing support for greener production and lifestyles, while separate draft revisions targeted power-safety accident response and township-level market-regulation offices.

Insights

How will China fund its ambitious 2029 6G rollout while local governments struggle to clear massive overdue payments to businesses?
Can China's rapid EV adoption offset the heavy pollution from coal reliance to achieve its latest air quality improvement goals?
With half of suppliers facing ultra-long payment delays, can new special bonds truly rescue cash-strapped SMEs from local government debt?