Xinhua Finance Evening News: Steel Industry Targets 4% Annual Growth Over Next Two Years, Strictly Prohibits Capacity Expansion

Listed companies have seen a growth of over 80% in the past 5 years by distributing ‘red packets’ through dividends and buybacks. The steel industry has set a target of 4% average growth over the next two years and is strictly prohibiting capacity expansion. The gold price has reached a new high with spot gold surpassing $3720.
China’s financial regulatory bureau director, Li Yunze, revealed during a news conference on September 22 that the banking and insurance industries have provided an additional 17 trillion yuan in funding to the real economy over the past 5 years through various means such as credit, bonds, and equities. The main financing channels have been effectively utilized, with precise and strong investments in key sectors, significant improvements in livelihood security, and further advancement in financial services. Over the past 5 years, science and technology loans, medium and long-term loans for the manufacturing industry,…