The issuance of special-purpose local government bonds is a way to help the minority of small and midsize banks in China that cannot achieve sustainable development by themselves or replenish capital via market-based approaches, said Zeng Gang, deputy director-general of the National Institution for Finance& Development. During the process...

In contrast to past centuries' economic powers in the West and 19th century Japan, which used colonial conquests to expand their economic reach, China extends its global reach via market-oriented exports and imports, and investments and development loans under the Belt and Road framework. Indeed, China has no history of colonization even a...