in 1978, and sh阿拉爱上海品茶微信ifted its focus toward building its economy. Data from the National Bureau of Statistics (NBS) shows the count ry’s GDP increased 33.5 times in constant prices from 1978 to 2017, with average annual gr owth at 9.5 percent, far exceeding the global average of 2.9 percent in the same period. During 40 years of reform and opening-up, China’s economic aggregate increased significantly. GDP stood at 364.5 billion yuan in 1978, before jumping to 1 trillion yuan in 1986, 2 trill ion yuan in 1991, over 10 trillion in 2001, 30 trillion yuan in 2006, and over 80 trillion yuan 2017. The country’sRead More →

th investors have started to realize the importance of not putting all their eggs in one basket, said Zi Yu an, head of investment platforms and solutions at UBS Securities. One solution is to hold dif ferent currencies to avoid the possible risk of the exchange rate fluctuation of one single currency. “They are looking at more overseas markets. Different markets sometimes are litt le connected. For example, the Chinese stock market was really disheartening last year. But if an investor all ocated his assets in the US stock market or other markets with high yield bonds, the loss in the Chinese stock m arketRead More →

obile consumption environment. Automobile plate lotteries and bidding indicators in Guan gzhou and Shenzhen will be broadened, and no other cities in Guangdong province may introd uce automobile purchase restriction regulations. The government will strengthen the supervision of automobile sales, the maintenance and acc essories industry, and establish a public notice system for automobile sales. Meanwhile, the used car consumer mar ket will be improved and procedures for used car transactions will be simplified. The Implementation Plan clearly states its aim to stabilize housing co nsumption. The province will expand the supply of rental housing and the coverage of perma nent residents in public rental housing, and housing provident fund systems. The provinceRead More →

China would like to have a shared planning process with Brazil to achieve coordinated development, President Xi Jin ping said on Friday during a meeting with Brazilian Vice-President Hamilton Mourao at the Great Hall of the People in Beijing. Calling the two countries highly complementary, Xi said China welcomes Brazil’s participation in the building of the Belt and Road. He said China supports the prosperity and development of B razil and believes that China-Brazil cooperation will produce great outcomes. Xi asked Mourao to extend his sincere greetings to Brazil’s P resident Jair Bolsonaro, who took office in January. Ch ina appreciates the efforts made byRead More →

 Information Industry Development, said Huawei’s chip making arm HiSilicon can help Huawei ensure the s ustainability of its business to some extent, and its chip stocks “are expected to provide a buffer of six months to a year”. Huawei said it procured around $70 billion worth of components and services from i ts 13,000 suppliers worldwide last year, with roughly $11 billion coming from US suppliers. The US has been voicing the “national security threat” of using Huawei products. French President Emmanuel Macron said on Thursday that France will allow Huawe i to build its 5G network infrastructure while preserving national security, according to XinhuaRead More →

ong the country’s top development priorities in the telecommuni cations industry,” Zhang Feng, chief engineer of the Ministry of Industry and Information Te chnology, said on Friday during the World Telecommunication and Information Society Day. Zhang called for accelerated efforts to set standards in key areas, including 5G, to expedit e the commercialization of this forefront technology and bolster the nation’s core competitiveness. Major Chinese smartphone maker Huawei Technologies Co has a lready unveiled its first 5G chip and first 5G foldable smartphone, the Mate X, which is expected to hit the market in June, despite challenges involving the United States. Also on Friday, shortlyRead More →

China’s Ministry of Commerce on Thursday urged the United States to correct its use of tariffs, and vo wed to take necessary countermeasures if the US’ new tariff plan targeting $300 billion in Chinese imports takes effect. The US government’s bullying behavior and maximum pressure regime on China violate mu ltilateral trade rules, ministry spokesman Gao Feng said at a regular news conference. The office of the United States Trade Representative proposed to take further action by imposing 25 percent of addition al tariffs on Chinese imports with an annual trade value of approximately $300 billion. The USTR is seek ing comment and will holdRead More →

Scientists from China and other countries involved in the Belt and Road Initiative will work together to enhance scientific and technological coop eration in disaster prevention and mitigation, according to a joint declaration. The collaboration aims to make areas along the initiative safer, more sustainable a nd disaster-proof, according to the declaration published during the two-day International Conference on Silk-r oad Disaster Risk Reduction and Development, which concluded in Beijing on Sunday. Sunday marked China’s 11th National Disaster Prevention and Reduct ion Day, an annual event which began in 2009 after a devastating earthquake hit Sic huan and neighboring provinces on May 12, 2008, leavingRead More →

Premier Li Keqiang urged government departments to speed up the implement ation of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday. Li was speaking with entrepreneurs from the manufacturing, constructio n and service sectors at the Zhongnanhai leadership compound in Beijing. The businesspeople said they have received benefits from the tax reduction measures in t he past months, after the measures were introduced by Li in the Government Work Report in March. Th ey also offered advice on how to further ease the tax burden on businesses. After hearing their opinions, Li called tax reduction a great decision madeRead More →

going reform measures have made its financial market increasingly appealing to overse as investors,” the administration said on Monday in a statement on its website. “The administration will continue to support the opening-up of financ ial markets, meet demand from overseas investors to expand investment in the ma rkets and attract global long-term capital to enter China’s financial markets,” it said. Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co mpared with $3.099 trillion by March, according to data released by theRead More →