Xi in Jiangsu; Relief for real estate developers; Yellen's visit; Social Work Department; Qin Gang
Summary of the Essential Eight:
Xi’s Jiangsu tour last week - Among the key themes in the propaganda readout: industrial development, tech self-reliance, energy security, and improved social and grassroots governance. In the discussion of improving governance the readout mentions both Mao’s “Fengqiao Experience” and Xi’s “Pujiang Experience”. This is the first time I remembering both listed in proximity; is this going to be a bigger thing going forward? There have been rumors circulating of the content of a long, stridently nationalist speech he supposedly gave, after checking around I think those rumors are incorrect.
Relief for real estate developers - In another sign of the ongoing stress in the real estate market, and the risks of failures of developers, the government has decided to extend loans earmarked for completion of projects. It is noteworthy that for all the pressure from the central government after the mortgage strikes last year on developers and local governments to co…