CNBC's The China Connection newsletter: Navigating a tech-heavy world
While economists and former central bankers discuss tech and monetary policy at the Bund Summit, companies are moving faster to capture new revenue.
TL;DR
- Chinese businesses are seeking new revenue streams through retail, 3D printing services, and events, with plans for expansion both domestically and internationally.
- The IMF advises China to correct resource misallocation and allow market forces to guide capital, rather than sector-specific support.
- Companies like Kunwei Technology are planning U.S. factories to better serve American startups, highlighting supply chain gaps.
- Visa has obtained approval for its bank card business in China after over 40 years.
- U.S. officials have raised market access issues for Mastercard and Citigroup in China.
- China's GDP grew by 4.5% in Q3, boosted by surging exports and retail sales growth.