Beijing's Openness to Foreign VPN Services; New Property Tax Rules; Coal Imports Ramped Up; American, Canadian Naval Operation Condemned; Unicorns.

Intelligence and Insights on China's government actions, foreign policy, economy, and the capital markets.

Differentiated restrictions, income adjustments, and limited dependence

China is ready to make a concession to select foreign entities in the hopes of sparking an investment boom. Meanwhile, local governments are on notice as the center looks to discourage reliance on income from property development.

Canberra gets a limited (and unclear) reprieve, if onl…