They should formulate proper energy-saving and emissions reduction plans while taking into full consideration factors such as taxes and carbon quota trading," Tan said.

他们应该制定适当的节能减排计划，同时充分考虑税收和碳配额交易等因素，”谭说。

To date, we have overfulfilled the annual quota for three consecutive years.

到目前为止，我们已经连续三年超额完成年度指标。

The fresh move came as a top meeting held recently announced that the quota of policy-backed and development-oriented financial instruments would be expanded by another 300 billion yuan to better fund major infrastructure projects.

最近召开的一次高层会议宣布，政策性和发展性金融工具的额度将再增加3000亿元，以更好地为重大基础设施项目提供资金。

Authorities have taken a tough stance on crude oil quota use and imports in recent years.

近年来，当局对原油配额的使用和进口采取了强硬立场。

Starting July 1, Hainan island, which aims to become a global free trade port, increased its annual offshore tax-free shopping quota from 30,000 yuan ($4,570) to 100,000 yuan per person.

In the latest development, digital lenders including Ant-operated Huabei and Tencent-backed WeBank announced a reduction of their maximum quota for loans extended via online channels, in response to heavier scrutiny from financial regulators and new provisions unveiled earlier.

As of July 1, authorities have more than tripled the tax-free shopping quota to 100,000 yuan from 30,000 yuan.

To bolster consumption in the area, the port will further relax the annual tax-free shopping quota for travelers by raising the limit of purchase from 30,000 yuan ($4,230) to 100,000 yuan per person each year and expanding the categories of duty-free goods, Zou said.

Starting from this year, the annual duty-free quota for cross-border e-commerce purchases for individual buyers will be lifted to 26,000 yuan ($3,822) from the current 20,000 yuan.

The existing agreements, as a consequence of this and of the completed finalization of the split of Marco Polo International Italy SpA, recognize the right of Camfin's shareholders, through dedicated statutory mechanisms, to ask for and obtain the attribution a quota of Pirelli shares corresponding to their percentage of participation in the capital of Camfin, the company said in a statement.

She said international institutions are willing to set up large offices in China following the financial opening-up policies announced by the central bank in mid-April, as well as the increased quota for qualified domestic investment enterprises and qualified domestic limited partners to invest abroad.

A regional quota costs less than the top two tiers－a FIFA partner such as Wanda and a tournament sponsor such as Vivo－while offering rights restricted within the region and lower exposure for bidders.

The new clean-energy quota system would help identify provincial targets, and ease the idle capacity problem by enabling technological evolution of photovoltaic power generation.

They said the move will also help Great Wall Motor to meet the demand of the Chinese government that each carmaker in the country must produce a certain quota of electrified cars starting this year.

It operates payment service Alipay and other digital finance products, such as Huabei, giving selected users a credit consumption quota.

Now, both production lines are running at full capacity at Hesteel Serbia, the mill's new name, which will see production of 2 million metric tons this year, the maximum of a quota agreed between the European Union and Serbia.

Wen said the annual quota of local government special-purpose bonds may rise to 4 trillion yuan this year, up from 3.8 trillion yuan in 2023.

He said China could raise its 2024 budget deficit ratio to around 3.5 percent to spur growth, expecting the government to set its 2024 quota of 3.8 trillion yuan to 4 trillion yuan in local government special bonds.

"More policy support is likely this year, including pledged supplementary lending, allocating some of the 2024 quota for local government special bonds in advance and further easing of homebuying curbs in first-tier cities.

Guangzhou and Shenzhen, the province's top cities, have been proposed to further increase their quota for car license plates and government subsidies to encourage residents to buy hybrid and new energy vehicles in the following months.

Morsy called specifically for reforms to the global financial architecture, including the quota system of the International Monetary Fund, to allow African economies to have a greater say in and access to financial resources.

The branch will conduct research on the expansion of the program in terms of the investor access threshold, individual investment quota, qualified participant institutions and investable products.

"The government is likely to push forward with another round of infrastructure stimulus, most likely paid for by raising the local government special bond quota," said David Chao, Invesco's global market strategist for the Asia-Pacific, excluding Japan.

The adjustments from July 1, 2020, increased the island's annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person and expanded the major categories of duty-free goods from 38 to 45.

Additional quota of local government special bonds and ramped-up transfer of payments from the central government may be necessary to replenish the funding of local governments so that they can spend more on infrastructure and high-end manufacturing sectors, he said.

The adjustment on July 1, 2020 increased the island's annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person, and expanded the major categories of duty-free goods from 38 to 45.

However, the current carbon market primarily functions as a tool for quota allocation, with its role in financial pricing and risk management yet to be fully realized.

China should, therefore, come up with a ceiling quota for a specific future period based on past emissions volume and overall reduction targets.

Second, phase out the allocation of free quota.

It is necessary to ensure the gradual reduction of free quota, coupled with an increase in auctioned quota.

Each year between 2018 and 2022, part of the quota of special local government bonds was issued and allocated several months in advance to energize investment and facilitate local infrastructure construction.

For instance, some 1.46 trillion yuan in the 2022 quota for local government special bonds were issued in December 2021 as an effort to help spur investment and support the economy.

The northbound connect will be subject to a daily net trading quota of 20 billion yuan ($2.89 billion) and a clearing quota of 4 billion yuan, the central bank said, adding it will adjust the quotas based on the market.

Since Hainan launched the policy that allows domestic tourists to buy products on the island without taxation on April 20, 2011, rounds of adjustments on the initial policy have taken place, increasing the island's annual tax-free shopping quota from 5,000 yuan to 100,000 yuan per person and expanding the major categories of duty-free goods from 18 to 45.

Zhang said China is expected to expand market access for products from the economies participating in the BRI through multiple measures, which he suggested may include lowering tariffs or even granting zero tariff treatment for some products, reducing non-tariff market barriers and revising related import quota systems.

Xing, from Morgan Stanley, said this year's quota of local government special bonds — a key funding source for infrastructure construction — may be expanded modestly, but not aggressively, at the two sessions, underpinning annual growth in infrastructure investment of about 10 percent.

The total annual investment quota -- worth 640 billion yuan -- from the central government budget has all been allocated, and the rate of projects undergoing construction has reached the highest level in nearly five years.

Lian advised policymakers to set a 2023 quota of more than 3.5 trillion yuan ($501.5 billion) on special-purpose bonds for local governments, which is roughly the same as the quota of 3.65 trillion yuan this year, thus continuously giving play to the role of infrastructure investment in spurring expansion of demand.

On the consumer front, Shenzhen has increased its quota of car license plates and provided government subsidies to encourage residents to buy hybrid and new energy vehicles, Wang said at a recent news conference.

Currently, the annual tax-free shopping quota in Hainan is 100,000 yuan ($13,784) per person.

Its 200 million yuan ($27.85 million) quota sold out instantly.

The State Council executive meeting announced recently that the quota of policy-backed and development-oriented financial instruments would be expanded by another 300 billion yuan ($42.2 billion) to better fund major infrastructure projects.

New measures also include channeling 300 billion yuan ($42 billion) to specific projects, along with allocating an additional quota of 500 billion yuan in local government special bonds that will be utilized by the end of October as new infrastructure projects become available for infrastructure financing.

Notably, China will speed up the implementation of key projects supported by the 300 billion yuan ($42.75 billion) policy bank bonds announced in mid-2022 and promote the use of the new 300 billion yuan quota in policy bank financing announced recently for infrastructure spending, she added.

Meng's remarks came after the State Council, the country's Cabinet, recently announced 19 follow-up measures to the policy package for stabilizing the economy, including a new quota of 300 billion yuan in policy-backed and developmental financial tools.

On the basis of making full use of a new quota of $300 billion yuan ($43.5 billion) in policy-backed and developmental financial tools, the country will further replenish capital for eligible mature projects to satisfy their funding needs.

Last week, the State Council, China's Cabinet, announced 19 follow-up measures to the policy package aimed at stabilizing the economy, including a new quota of around 500 billion yuan in local government special bonds to be fulfilled before the end of October.

The fresh move came as a State Council executive meeting announced last week that the quota of "policy-backed and development-oriented financial instruments" would be expanded by another 300 billion yuan ($43.5 billion) to better fund major infrastructure projects.

In particular, those issued for project construction nearly hit the annual quota.

A recent executive meeting of the State Council chaired byue003Premier Li Keqiang decided that China will adopt follow-up policies on top of the main policy package to stabilize the economy, including an incremental quota of at least 300 billion yuan ($43.4 billion) in policy bank financing tools, a new quota of over 500 billion yuan in local government special bonds to be fulfilled before the end of October and 200 billion yuan in new bonds to be issued by central government-owned power firms.

Therefore, compliance is the most important factor driving electricity companies to conduct quota transactions.

On the other hand, a basic quota distribution plan was initially made for the two industries when preparations for a national carbon trading system started in 2017.

A recent executive meeting of the State Council chaired by Premier Li Keqiang decided that China will adopt follow-up policies on top of the policy package for stabilizing the economy, including an incremental quota of at least 300 billion yuan ($43.7 billion) in policy bank financing tools and a new quota of over 500 billion yuan in local government special bonds to be fulfilled before the end of October.

The new stimulus package includes an incremental quota of at least 300 billion yuan ($43.8 billion) in policy-backed and developmental financial instruments, on top of the 300 billion yuan policy bank bonds announced as equity capital for key investment projects, and a new quota of around 500 billion yuan in local government special bonds, carried over from previous years, which is required to be fulfilled before the end of October.

As the meeting stressed that the balance of the special bond quota worth over 500 billion yuan should be well utilized, Ye estimated that China may continue to issue new special bonds in the second half of the year, saying the country will likely see better-than-expected growth in infrastructure investment, which will play a crucial role in supporting the recovery.

On the basis of channeling the 300 billion yuan ($43.7 billion) of policy-backed and development-oriented financial instruments to specific projects, the quota of such instruments will be increased by another 300-plus billion yuan.

The balance of the special-purpose bond quota worth over 500 billion yuan should be well utilized in accordance with law and issued by the end of October.

"China, he said, has completed the issuance of 3.45 trillion yuan ($508 billion) in local government special bonds for infrastructure－part of the 2022 special bonds quota of 3.65 trillion yuan－by the end of July.

Some experts have been calling for allocating some of the 2023 quota for local government special bonds in advance in the fourth quarter of this year, saying more efforts are still needed to consolidate the economic recovery amid sporadic COVID-19 outbreaks since July and uncertainties both at home and abroad.

To stabilize overall growth, Luo said it would be advisable to allocate some of the 2023 quota for local government special bonds in advance in the fourth quarter and to increase financial support for small and medium-sized enterprises, technological innovation and green development.

This is in sharp contrast to the situation last year, when only 50 percent of the quota was completed by August 2021.

They can either bring next year's special bond quota to the remaining months of this year, or increase this year's quota.

As of July 28, China had issued 3.47 trillion yuan ($513.8 billion) of special-purpose local government bonds, accounting for 95 percent of the combined full-year quota of such bonds.

At the same time, three other factors－policy-based and developmental financial instruments worth 300 billion yuan; an 800 billion yuan increase in the credit quota for policy banks; and commercial banks' active credit issuance－will help speed up major projects, said Lian Ping, chief economist at Zhixin Investment and head of the Zhixin Investment Research Institute.

He said China may front-load the 2023 special-purpose bond quota, which could play a role in expanding domestic demand during the fourth quarter of this year.

Utilization of special local government bonds should be optimized and local governments should be encouraged to make adequate and good use of the special debt quota.

The government may use the surplus cash accumulated in the past or advance the 2023 local special bond issuance quota to fill the revenue shortfall," said Li Wei, senior economist at Standard Chartered Bank (China) Ltd. Lian Ping, chief economist at Zhixin Investment and head of the Zhixin Investment Research Institute, agreed that the proactive fiscal policy will remain the main force to boost economic recovery in China in the second half.

At the beginning of the fourth quarter, China may front-load the 2023 special-purpose bond quota to satisfy continuously increasing financing needs, thus allowing macroeconomic policies to provide sustained support for growth stabilization," he said.

It urged local authorities to raise the withdrawal quota for housing rental payments based on local conditions, and support the depositors to draw from the fund whenever they are in need.

By the end of May, over 2 trillion yuan of such bonds have been issued nationwide, accounting for 59 percent of this year's quota.

Statistics indicate that, as of July 14, the country's cumulative trading volume of carbon emission quota had reached 194 million tons, with a total trading value of 8.492 billion yuan ($1.25 billion).

The annual quota of new special bond issuance is set at 3.65 trillion yuan this year.

To further prop up the growth, it would be advisable to issue special treasury bonds and allocate the 2023 quota for local government special bonds in advance, Luo said.

By the end of May, a total of 2.03 trillion yuan of special bonds have been issued, accounting for 59 percent of the total quota, up 1.4 trillion yuan from the same period last year.

China has set its annual quota for local government special bonds at 3.65 trillion yuan.

The country has set its annual quota for local government special bonds at 3.65 trillion yuan.

Ying added that the new lending quota of 800 billion yuan, an amount equivalent to about one-fifth of the medium to long-term loans created in the infrastructure sector in 2021, can effectively alleviate the current lack of demand for longer-term loans and bolster credit expansion.

Economists believe that another sensible option on the fiscal front is to front-load the quota of special-purpose local government bonds for 2023 to this year as an effort to generate more investment activities.

Robin Xing from Morgan Stanley said that "more pandemic fiscal relief will be introduced and the government may move forward some of the 2023 construction bond quota to this year.

This year, the city plans to include more enterprises in the electricity, steel and iron, and chemical sectors into the emissions quota system, which currently consists of 160 companies, said Zhang Tao, deputy head of the local ecological and environmental protection bureau.

Starting from 2022, the 400 billion yuan inclusive relending fund will continue to be used on a rolling basis with a focus on micro and small enterprises, and the quota can be expanded if necessary, the newly released measures said.

In the fourth quarter, China issued 1.2 trillion yuan ($188.5 billion) of special local government bonds and front-loaded 1.46 trillion yuan of a 2022 special bonds quota.

The Ministry of Finance had already funneled 1.46 trillion yuan from the 2022 quota by the end of last year.

Efforts will be made to deliver the remainder of the quota at a faster pace, prioritizing regions with a strong ability to pay service debt and with sufficient candidate projects.

"The advance quota allocated last year will be issued by the end of May, and the quota set for this year will be issued by the end of September," Li said.

Late last year, the Ministry of Finance funneled 1.46 trillion yuan from the 2022 quota of special bonds to local governments in advance, indicating the implementation of the government's proactive fiscal policy aimed at preventing the risk of economic slowdown in the first quarter of this year.

As of the end of February, 877.5 billion yuan of local government special bonds had been issued, accounting for over 60 percent of the quota, the ministry said.

The Ministry of Finance has issued a quota of 1.46 trillion yuan for special debt this year in advance, and it has made clear that the special debt will be used in nine major fields, including transportation infrastructure, energy, agriculture, forestry and water conservancy, and ecological and environmental protection.

Special bonds are valued at 484.4 billion yuan among the newly issued bonds in January, accounting for one-third of the quota issued by the Ministry of Finance in advance and 69 percent of the total bond issuance during the month.

The figure accounted for one-third of the 1.46 trillion-yuan funds that were allocated late last year from the country's 2022 quota for local government special bonds.

Since July 1, 2020, Hainan has raised its annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person.

Yuan said part of this year's special local government bonds' quota has already been allocated to local governments.

Since July 1, 2020, Hainan has raised its annual duty-free shopping quota from 30,000 yuan to 100,000 yuan per person.

On the local level, the country will put into use the 1.2 trillion yuan ($188.5 billion) of local government special bonds issued in the fourth quarter of 2021, and accelerate the issuance of the front-loaded 2022 bond quota, the meeting decided.

Meanwhile, the pilot programs, which support small tech firms to borrow from overseas foreign debt within a certain quota, will also help overseas financial institutions access more domestic business clients with buoyant demand for fundraising, he added.

Specifically, the trials will support medium, small and micro-sized high-tech enterprises to borrow money from overseas autonomously within a certain quota, waive administrative registrations of onshore reinvestment by foreign-invested businesses, and allow multinationals to integrate local and foreign currencies into one cash pool.

"The tropical island province of Hainan, which grants the Chinese consumers with an annual duty-free quota of 100,000 yuan each, enticed shoppers to spend big on such goods as cosmetics, wines and electronics.

Since July 2020, Hainan, which aims to become a global free trade port, increased its annual offshore tax-free shopping quota from 30,000 yuan to 100,000 yuan per person.

The PBOC may continue to lower funding costs via cutting the reserve requirement ratio and rely on other structured monetary tools, such as the new relending loan quota, according to Stephen Chiu, chief Asia foreign exchange and rates strategist of Bloomberg Intelligence.

The Ministry of Finance also announced an earlier-than-usual delivery of a new quota for the local government special bond, to accelerate government-led investment.