Xi Takes Flurry of Small Steps to Open China After Biden Thaw [BNN Bloomberg (Canada)]
Mastercard Incorporated (MA)
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Source: BNN Bloomberg
Since a meeting with US leader Joe Biden steadied ties, Beijing is gradually putting his words into action. China has unleashed a flurry of market access concessions in the wake of last month's leaders' summit. Beijing approved a long-delayed Mastercard Inc. joint venture, then followed up by green lighting one of the world's largest technology mergers between US chipmaker Broadcom Inc. and cloud company VMWare Inc. Last week, officials announced visa-free access to China for six countries. Translating “the San Francisco vision into actual policies and concrete steps” is a matter of “first-rate importance,” the official Xinhua News Agency wrote this week. A meeting of the Politburo that Xi chaired on Monday called for “high-level opening up,” a slogan associated with more market access. The spate of conciliatory acts since the Biden meeting signals China's vast bureaucracy, which waits on clear instructions from Xi, is ramping up efforts to stop an exodus in capital. One gauge o
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