CrossPacificWatchers

Everything You Should Know About China's Economy on Wednesday (April 1)

China’s Ministry of Finance announced a dramatic hike in profit remittances from central state‑owned enterprises, raising the 2025 target to 375.08 billion yuan (about $54 billion), a 79 percent increase. The new tiered system sets a 35 percent rate for tobacco, petrochemicals, power and telecom firms, 30 percent for metals, transport and electronics, and 20 percent for defense and other strategic groups, while policy banks and micro‑enterprises are exempt. Meanwhile, the Qingming holiday is expected to push daily cross‑border travel above 2.3 million, up 11.1 percent year‑over‑year, straining border facilities. Chinese equities rallied, the yuan strengthened to 6.9025 per dollar, and commodity futures showed mixed moves.