China

China Daily | English | News | Jan. 2, 2026 | Regulation

China's top legislature has revised the Fisheries Law to advance the fishing industry while emphasizing green development. The new law, effective May 1, balances economic growth with ecological security and sustainable resource use. It enhances regulations on aquaculture, strengthens fishery resource protection, and increases oversight compared to previous versions of the law, which was last amended in 2013.

The revision promotes scientific and technological research in fisheries, supports the development of improved aquatic species and facilities, and authorizes local governments to manage recreational fisheries. It mandates environmentally friendly farming practices, such as controlling stocking densities, proper feed and drug use, and ensuring wastewater meets pollution standards before discharge.

The revised law introduces a fishing quota system based on maintaining catches below the growth rate of fishery resources and establishes graded approvals for fishing vessels and gear. It also creates a system to protect important waters, clarifies fishing bans with clear geographic and temporal restrictions, and requires the protection of aquatic germplasm resources through a national resource bank with stricter import/export controls.

A new chapter on supervision outlines enforcement powers and responsibilities between fishery and coast guard authorities, enhancing coordinated law enforcement. It also bans vessels without names, certification, or port registration from fishing and prohibits provisioning ports from supporting illegal operations, aiming to eliminate unlawful operators from the market.

Times of News | English | News | Jan. 2, 2026 | Shifting Geopolitical Alliances

Russian President Vladimir Putin emphasized the importance of Russia-China relations as a key factor for global stability during his annual end-of-year press conference on December 19, 2025. He highlighted the strong bilateral trade between the two countries, reaching $240-250 billion, and underscored cooperation across various fields such as high technology, education, humanitarian exchanges, outer space exploration, and military collaboration, including joint exercises and strategic patrols. Putin also noted the constant coordination between the Russian and Chinese foreign ministries, reflecting a high level of trust.

The year 2025 witnessed frequent high-level exchanges between Russia and China, including reciprocal visits by their leaders to commemorate the 80th anniversary of the victory in the Chinese People’s War of Resistance and the Soviet Union’s Great Patriotic War. Numerous senior officials from both countries engaged in visits to enhance strategic collaboration. Chinese Ambassador Zhang Hanhui reported that trade volume exceeded $200 billion for the third consecutive year, with notable growth in emerging sectors like biotech and aerospace.

Experts highlighted the dual role of China and Russia as permanent UN Security Council members and nuclear powers in maintaining global strategic stability. They jointly advocate for equal and indivisible security, oppose bloc confrontations, and coordinate on critical issues such as nuclear and outer space security to mitigate conflict risks. The countries support each other on core interests, resist external interference, uphold international fairness, and defend the UN-centered global system while safeguarding historical truths related to World War II.

Regarding the Russia-Ukraine conflict, Putin indicated a lack of clear readiness for dialogue from Ukraine but acknowledged some signals toward engagement. He expressed a desire for peace in 2026 and the resolution of disputes through negotiation. Putin raised concerns over NATO’s military infrastructure expansion near Russia’s borders and called on Western partners to honor security commitments, seeking a reliable security framework in Europe to prevent future conflicts.

China Daily | English | News | Jan. 2, 2026 | UndeterminedReal Estate

China has initiated a pilot program for commercial property real estate investment trusts (REITs) to promote a new model of real estate development and foster innovation in asset securitization. The China Securities Regulatory Commission (CSRC) announced the pilot, which took effect immediately, with supporting rules released by the Shanghai and Shenzhen stock exchanges. Market participants can now apply to the CSRC and exchanges to launch commercial property REITs.

Commercial property REITs are defined as closed-end publicly offered funds that hold commercial real estate to generate stable cash flows and distribute returns to investors. This initiative aims to activate existing assets, reduce financial risks in the real estate sector, increase direct financing, and address residents' wealth management needs. Eligible properties must comply with national strategies and industrial policies, have clear ownership, defined scope, completed compliance procedures, and demonstrate stable cash flows.

The pilot prioritizes quality over speed and maintains strict standards for issuance, compliance, and risk control. Priority will be given to high-quality projects such as commercial complexes, retail properties, office buildings, and hotels. Issuance proceeds cannot be used to purchase land for commercial residential housing. Market-oriented return requirements are tied to the yield on 10-year government bonds.

This launch represents a new phase in China's REITs market development, with commercial property and infrastructure REITs evolving in parallel toward a broader and more mature asset market. The CSRC plans to expand REITs-related indices, support public funds in investing in REITs, and explore innovative products like ETFs tracking REITs indices to diversify investment options.