The budget deficit ceiling has been set at 3.5 per cent of GDP for 2017, equal to VND178.3 billion ($8 billion), with a majority of National Assembly (NA) delegates voting in favor of the associated resolution on November 11. SEE MORE The National Assembly (NA) yesterday adopted a resolution on the socio-economic development plan for 2017, targeting a gross domestic product (GDP) growth rate of about 6.7 per cent. SEE MORE China and Japan may seem to inhabit alternative economic universes. After more than two decades of stagnation, Japan is a fading global power that can’t seem to revive its fortunes no matter what unorthodox gimmicks it tries. By contrast, China’s ascent to superpower status appears relentless as it gains wealth, technology, and ambition. SEE MORE China’s yuan dropped to a record low against a trade-weighted currency basket amid speculation policy makers are using recent dollar weakness to boost the competitiveness of the nation’s exporters. SEE MORE Prime Minister Nguyen Xuan Phuc has approved the equitisation of electricity-generation corporations under the Electricity of Vietnam (EVN), the Vietnam National Oil and Gas Group (PetroVietnam) and the Vietnam National Coal and Mineral Industries Group (Vinacomin). SEE MORE