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point.gif (302 bytes) China to promote nationwide standardization of transparency in primary-level government affairs

China will comprehensively promote the standardization of transparency in primary-level government affairs as part of its effort in building a services-oriented government to better meet the needs of businesses and the people.

A host of steps in this respect were adopted on Dec 18 during the State Council¡¯s executive meeting chaired by Premier Li Keqiang.

The standardization of transparency in primary-level government affairs is an important reform task the CPC Central Committee set out. General Secretary Xi Jinping pointed out that piloting the standardization of government affairs transparency at the primary level is an important outcome of our comprehensive deepening of reform. Premier Li Keqiang, underlining the imperative of work on this front, reviewed and approved the pilot reform program.

¡°Government affairs at the primary level are closest to the daily lives of the people. We must do a better job in making primary-level government affairs open by promoting the standardization of the practice, making sure that disclosure of decision-making information will be the norm, whereas the lack of it, an exception,¡± Premier Li said.

Attendees at the meeting decided that building on pilot reform, standardization shall be further promoted for the transparency of government affairs covering all government services at counties, city districts, and at the township and community levels.

Wider public involvement in the administrative decision-making process will be encouraged. Primary-level governments shall clearly define the scope and format for public involvement in administrative decision-making, and disclose this information to the public. They must promptly respond to any public concern about policy implementation and project development.

¡°There must be sufficient public involvement as we promote government affairs transparency. The views and suggestions of the people must be fully heeded through public hearings and discussions when it comes to issues that involve people¡¯s interests,¡± Premier Li said, ¡°Our effort in promoting government affairs transparency should be compatible with the self-governance of villagers and community residents.¡±

Primary-level governments should formulate, by the end of 2020, a catalog of government affairs to be made public. Governments at the primary level shall release their service items, as well as guidelines and processes for accessing these services, both online and offline.

To make it easier for businesses and people to access government services, county-level governments shall open unified online portals for accessing government services.

¡°In promoting the standardization of transparency in primary-level government services, we must follow a realistic approach in light of local conditions. Given the size of our country and how much regions vary from each other, we must take into full account the realities on the ground. This will help ensure that work on this front achieves its desired results,¡± Premier Li said. (Dec.19,2019) from english.gov.cn
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point.gif (302 bytes)Better days ahead for foreign investors in China

China rolled out a guideline for foreign investment that focuses on safeguarding national treatment of foreign-funded enterprises, and addresses specific issues of concern.

For a start, China will continue to cut the negative list for foreign investment access in national and pilot free trade zones, and eliminate restrictions that are not on the negative list.

China will accelerate opening-up of the financial sector and optimize foreign investment policies for automobiles.

Second, China will optimize scientific and technological innovation services for foreign-invested enterprises, improve construction of pilot free trade zones.

Third, China will lower the cost of cross-border capital use, make it easier for foreigners to work in China, and optimize the approval process for land use in foreign-funded projects.

Fourth, to protect the legitimate rights and interests of foreign investors, China will fully implement the foreign investment law, establish and improve institutions for accepting complaints.

The guideline called for respect for the market value of IPR and intensified efforts to crack down on malicious and repetitive IPR infringements.

China has been working to set up a punitive compensation system and an IPR credit system, substantially raising the cost of IPR infringements. One dishonest behavior in the field of IPR will result in restrictions at every turn.

China bans the use of administrative measures to force foreign investors or enterprises to transfer technology. Administrative organs and their staff should strictly keep any business secrets of foreign investors.

The guideline urges local governments to ensure equality for both domestic and foreign companies to participate in standardization work, encouraging foreign enterprises to contribute to setting standards in medical equipment, food, medicine and information products, to increase industrial standards.

To create a fair government procurement system, the guideline requires all local governments and departments to not discriminate against foreign-funded enterprises. They should not restrict ownership, organization, equity structure or investor country, or service brands of suppliers, in government procurement.

If foreign-funded enterprises are not treated equally, they can raise complaints with the procurer, and if the procurer fails to give a reply within the time limit, or if the supplier is dissatisfied with the reply, they can file a complaint with the financial department at the same level.

Foreign-funded enterprises that do not participate in government procurement can also report to the Ministry of Finance if they find unfair practices.

According to the World Investment Report 2019 of the United Nations Conference on Trade and Development, China is the world's second-largest recipient of foreign investment. From January to October, foreign investment utilized by China reached $110. 78 billion, up 2. 9 percent year-on-year. According to a report released by the World Bank, China's business environment ranking moved up again. China is one of the top 10 improvers two years in a row. (Dec.12,2019)  from english.gov.cn
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point.gif (302 bytes)Foreign trade rises 2.4% so far this year

China's foreign trade volume over the first 11 months of 2019 expanded 2.4 percent year-on-year to 28.5 trillion yuan ($4.14 trillion), registering steady growth, the General Administration of Customs said on Dec 8.

Exports climbed 4.5 percent to 15.55 trillion yuan, and imports totaled 12.95 trillion yuan. The trade surplus widened by 34.9 percent to 2.6 trillion yuan during the period.

For November, exports and imports hit 2.86 trillion yuan, growing 1.8 percent year-on-year, with imports increasing 2.5 percent to 1.29 trillion yuan.

Li Kuiwen, director of the GAC's statistics and analysis department, said China's foreign trade remains resilient as the national economy develops stably and continues to grow, despite the slowdown in the global economy and trade growth this year.

Import growth in November reflected China's improved domestic market demand, he told China Central Television.

The European Union was China's largest trading partner from January to November, with the bilateral trade volume up 7.7 percent year-on-year to 4.4 trillion yuan. The Association of Southeast Asian Nations was second largest, up 12.7 percent to 3.98 trillion yuan.

Trade growth with the Belt and Road economies was higher than the overall growth, as imports and exports with those economies hit 8.35 trillion yuan in the first 11 months, increasing 9.9 percent year-on-year and accounting for 29.3 percent of China's total foreign trade, up 2 percentage points, the GAC said.

In contrast, China's trade with the United States declined 11.1 percent year-on-year from January to November to 3.4 trillion yuan. Exports dropped 8.4 percent to 2.64 trillion yuan, and imports declined 19.5 percent to 763.05 billion yuan. The trade surplus with the US fell 3 percent to 1.88 trillion yuan.

The China-US trade decline came while the two countries have not yet addressed their trade disputes, but China's overall foreign trade is expected to continue its expansion, experts said.

Qin Tai, a macroeconomy researcher at securities services provider Shenwan Hongyuan Group Co, said next year, as China-US consultations are expected to make progress and uncertainties in the external environment may improve, the impact of the trade dispute on China's exports may be reduced.

"On the whole, both the country's exports and imports are projected to continue their growth in 2020," Qin said in a recent research note.

Yang Changyong, a researcher at the Chinese Academy of Macroeconomic Research, said newly emerged business models like cross-border e-commerce, have created new opportunities for trade companies and have injected fresh impetus into foreign trade development.

The GAC data also showed China's foreign trade structure is improving. General import and export trade rose 4.8 percent year-on-year to 16.87 trillion yuan from January to November, accounting for 59.2 percent of the total foreign trade, which was up 1.4 percentage points year-on-year.

Private enterprises also contributed more. Their exports and imports valued 12.12 trillion yuan in the January-November period, up 10.4 percent and accounting for 42.5 percent of the country's total foreign trade, which was up 3.1 percentage points.(Dec.9,2019)  from english.gov.cn

point.gif (302 bytes)China unveils plan on construction of leadership teams of Party, governments

The General Office of the Communist Party of China Central Committee has unveiled an outline of a plan for the construction of leadership teams of the Party and governments from 2019 to 2023.

According to a statement released by the office, it is a guiding document for meeting the general requirements for Party building and implementing the Party's organizational line in the new era, as well as strengthening the construction of the leadership teams of the Party and governments for the new era.

A circular was also released by the office asking departments and organizations across the country to implement the plan based on their actual conditions. (Dec.5,2019)  from english.gov.cn


point.gif (302 bytes)Greater Bay Area sees influx of talent

The economic vitality and sound infrastructure of the Guangdong-Hong Kong-Macao Greater Bay Area is helping it attract more talent and become one of China's strongest talent banks.

In the third quarter of this year, the Bay Area gained 1.3 percent more talent than it lost, up from 1.24 percent in the same period last year, according to a report released recently by Zhaopin, an online recruitment platform in Beijing.

The quality of talent in the Bay Area also improved in the third quarter, with 55.93 percent of the work force having a bachelor's degree or higher, up from 54.48 percent last year. The level of work experience also rose, up by 1.81 percentage points year-on-year.

Shenzhen and Guangzhou, both in Guangdong province, were the most popular Bay Area cities among job seekers, attracting nearly 71 percent of the flow of talent in the third quarter, the report said.

Higher salaries may be one of the Bay Area's main attractions for job seekers.

The report said the average monthly salary in the area in the third quarter was 9,344 yuan ($1,330) ¡ª up 6.63 percent year-on-year ¡ª and above the national average of 8,698 yuan.

Hong Kong had the highest average monthly salary in the Bay Area in the third quarter at 21,017 yuan, with Macao second at 14,038 yuan. Shenzhen, at 10,320 yuan, and Guangzhou, 9,115 yuan, offered the highest monthly salaries among mainland cities in the Bay Area.

The influx of talent has, however, intensified the competition for jobs, especially in Shenzhen and Guangzhou.

Last quarter, the number of job applicants rose 36.89 percent year-on-year, while the number of positions available rose by 11.5 percent.

Those seeking jobs in the e-commerce and real estate sector faced the fiercest competition, while salespeople and skilled workers were in greatest demand by employers.

The report said the imbalance could be due to the stereotypes people held about skilled work and job seekers' preference for a good working environment.

Expensive housing and unbalanced education and healthcare resources could hinder the Greater Bay Area's efforts to attract talent, according to the report.

"In order to lure more talent, it's important to help them solve problems ¡ª for example, expensive housing that might not be affordable to them ¡ª and also create a good ecosystem for entrepreneurs," Fan Gang, director of the National Economic Research Institute, told a human resources forum in Guangzhou on Nov 30.

"It's a shared responsibility for both government and society to create a good environment for innovation and entrepreneurship. It will be good for young people to find jobs that can unleash their potential and prove their value."

Wang Shitong, a member of the standing committee of the Communist Party of China municipal committee in Guangzhou, the capital of Guangdong, told the forum the city is making great efforts to attract talent and give them preferential policies to ensure they have a good working and living environment.

"For example, the city's Haizhu district released a policy (in April), giving priority to talent in the areas of housing, children's education, healthcare and transportation," he said. "In the next five years, there will be 2,000 professional units in Guangzhou offering human resources services to people who desire to work here."

Chen Yuyuan, a supervisor at Guangzhou's human resources and social security bureau, said the city's human resources services had improved in recent years.

"On Oct 17, 2018, we set up a State-level human resources industrial zone, and we will endeavor to build this zone into a human resources hub for the Greater Bay Area in the near future," he told the forum. (Dec.2,2019)  from english.gov.cn
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point.gif (302 bytes)Financial reform to pick up momentum

The Financial Stability and Development Committee under the State Council held its 10th meeting, to discuss financial reform in multiple aspects, highlighting precautions against grave financial risks.

Liu He, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, vice-premier of the State Council and director of the financial committee, presided over the meeting.

The committee has resolved major financial risks in a timely and efficient manner and contributed to a stable and orderly financial market, with significant achievements made in the current phase of financial reform.

Further efforts should be made to optimize policies and measures, maintain a balance between steady increase and risk prevention, enhance counter-cyclical adjustment, support small and medium-sized banks, and improve the long-term mechanism to deal with risks, in a bid to safeguard a stable financial system and economic growth.

Financial reform and opening-up is key to better services for the real economy and prevention against financial risks. Thanks to the previous implementation of financial reform and opening-up, China's financial market has been substantially strengthened over the past few years.

In the next stage, the committee should continue deepening reform in the capital market and small and medium-sized banks, directing privately offered funds to develop, improving incentive and restriction mechanisms, and making the financial system more adaptable, competitive, and inclusive.

A slew of measures were decided during the meeting, featuring better services for the real economy, further improvement in capital market basic system, and reform measures in expanding financial opening-up, among others.
(Nov.29,2019)  from english.gov.cn

point.gif (302 bytes)Chinese financial assets reel in foreign investors

Chinese financial assets are becoming an indispensable part of global investors' holdings, as economic upgrade has nurtured new opportunities and the nation has opened wider to foreign investment, officials and experts said.

Foreign investors have continuously increased Chinese stock and bond assets holdings over the course of this year, with the stock market having attracted more than 240 billion yuan ($34 billion) in foreign capital, according to China's top securities regulator on Nov 23.

This development attested to global investors' confidence in China's capital market reforms and economic prospects, China Securities Regulatory Commission Vice-Chairman Li Chao said at a forum.

The commission announced nine measures to further open the capital markets in June, and now six of them have taken effect, Li said£­they include relaxing foreign access to fund custodian services, expanding trials of the H-share full circulation program to the whole market and giving foreign capital wider access to mainland-listed futures.

Next, the commission will step up efforts to refine qualified foreign institutional investors programs to expand market access and broaden access channels to exchange bond markets for foreign capital, Li said.

"Not only is China now more open to investment, it is also the source of new business opportunities£­driven particularly by a growing middle class and domestic consumption," said a recent BlackRock report, which found that China represents "an opportunity too big to ignore" for global investors.

"China has many world-class investment opportunities. In many cases we don't need to look abroad for shares with high-growth potential because we can reach them domestically," said Iris Pang, China director and economist of ING, a Netherlands-based global financial institution.

Pang told China Daily she was especially upbeat about listed firms that could contribute to or benefit from China's development of 5G, which is set to be a major growth driver in 2020, while calling for reform measures to align the domestic bond rating system with global standards.

Capital market reform efforts will focus on making the markets more inclusive to different firms and furthering market-oriented improvement in fundamental institutions, said Li from CSRC.
(Nov.25,2019)  from english.gov.cn

point.gif (302 bytes)China willing to uphold free trade, boost global growth

Premier Li Keqiang said on Nov 20 that China is willing to deepen mutually beneficial cooperation with partners across the world, safeguard the free trade system, and inject impetus into global economic growth.

Premier Li made the remarks when meeting with World Bank President David Malpass at the Great Hall of the People in Beijing, noting that the world economy is facing mounting downward pressure.

The Chinese economy has been deeply integrated into the world, the Premier said. "We are deepening reform, expanding opening-up, and accelerating the building of market-oriented, internationalized business environment based on the rule of law to further energize market entities," he added.

China is willing to deepen cooperation with the World Bank in areas such as environmental protection, biodiversity as well as poverty reduction and development, he said.

Malpass said the world economy is facing severe challenges and called on all sides to work together to address them.

He noted that there is huge potential for the development of the Chinese economy, underscoring China's remarkable achievements in its opening-up.

The World Bank looks forward to strengthening cooperation with China, he told Premier Li.

The Premier held a roundtable meeting with leaders of six major international economic and financial institutions in Beijing on Nov 21. The six leaders are Malpass, International Monetary Fund Managing Director Kristalina Georgieva, World Trade Organization Deputy Director-General Alan Wolff, International Labor Organization Director General Guy Ryder, Organization for Economic Cooperation and Development Secretary General Angel Gurria and Financial Stability Board Chairman Randal Quarles.
(Nov.21,2019)  from english.gov.cn

point.gif (302 bytes)Foreign investment outlook 'optimistic'

China is "optimistic" about meeting the goal of stably attracting foreign investment in the mainland through the year, as the January-October figures were sound, the Ministry of Commerce said.

Zong Changqing, director-general at the ministry's department of foreign investment administration, said it is expected that FDI flowing to the Chinese mainland will remain stable for the whole year.

So far this year, FDI has been growing steadily, with more big-ticket projects in high-end sectors, Zong said at a news conference on Monday.

The ministry's data showed FDI into the Chinese mainland amounted to 752.41 billion yuan ($107.28 billion) in the first 10 months, up 6.6 percent year-on-year.

A total of 33,407 new foreign-funded enterprises were established in the market between January and October, the data showed. In October alone, FDI climbed 7.4 percent year-on-year to 69.2 billion yuan, according to the data.

"This year, there have been more than 1,300 foreign-funded projects, with investment of more than $50 million. The number has increased by 5.4 percent, compared with the same period last year," Zong said. "In the meantime, the structure of FDI has been optimized."

In January, German chemical giant BASF signed a framework agreement with Guangdong provincial government to further clarify the planning details for its $10 billion Verbund chemical complex. The site would ultimately be the third-largest BASF site worldwide.

Also in January, Tesla Inc's Shanghai gigafactory, the largest foreign-invested manufacturing project in the city, broke ground. It has started trial production ahead of schedule.

China has rolled out a series of measures to stabilize foreign capital, such as renewing the negative lists, promoting the Foreign Investment Law and establishing new pilot free trade zones.

Early this month, the State Council issued a guideline on better using foreign investment, with a focus on safeguarding the national treatment of foreign-funded enterprises.

Ye Wei, deputy director-general of the department, said the commerce ministry has been working with relevant departments to work out supporting regulations for the Foreign Investment Law, which will come into force in January. The draft of the law is available online for public comment, and judicial interpretation is also being formulated, he said.

The ministry has also been training local offices in understanding the significance of the law, so as to provide a foundation for its implementation, he said.

In October, MAXAM, a provider of energetic materials and blasting solutions, opened its first plant in Shandong province. Jose Fernando Sanchez-Junco Mans, company chairman and CEO, said China's economy is now on its strategic transformation trajectory to sustainable and high-quality growth, which provides tremendous business opportunities for the company.
(Nov.19,2019)  from english.gov.cn

point.gif (302 bytes)China unveils experiment for landing on Mars

 
China on Nov 14 unveiled an experiment simulating the process of a probe hovering, avoiding obstacles and descending to land on Mars.

The experiment was held on a trial ground, the largest one in Asia for test landing on extraterrestrial bodies, in Huailai county, North China's Hebei province.

China plans to launch the Mars probe in 2020, aiming to complete orbiting, landing and roving in one mission, an unprecedented achievement, according to the China National Space Administration.

How to safely land on Mars is one of the biggest challenges facing the mission.

The experiment simulated the gravity of Mars, about one-third of the gravity on Earth, to test the design of the lander.

Ambassadors and diplomats from 19 countries including France, Italy and Brazil, as well as representatives from the European Union, the African Union and the Asia-Pacific Space Cooperation Organization were invited to visit the experiment.

Zhang Kejian, administrator of the CNSA, said since the official kick-off in 2016, China's Mars exploration program has progressed well. The hovering and obstacle avoidance test for the Mars lander is a crucial step of the project.

Zhang said China has been actively promoting international cooperation in space exploration. To date, China has signed over 140 space cooperation protocols with 45 countries and international organizations.

China has collaborated with France, Italy and Brazil in developing satellites for ocean, earth resources and astronomical observation and the study of seismic precursors, Zhang said.

China's Chang'e-4 mission embodies China's hope to combine wisdom in space exploration with four payloads developed by the Netherlands, Germany, Sweden and Saudi Arabia.

In April, the CNSA announced opportunities for cooperation with Chang'e-6 and asteroid exploration missions.

Earlier this month, China announced it would make the 16-meter optical data obtained by the Gaofen-1 and Gaofen-6 satellites available to global users.

"All these measures have enabled more countries, especially developing countries to enjoy the benefits brought by space technology and to advance social-economic development," Zhang said.
(Nov.14,2019)  from english.gov.cn

point.gif (302 bytes)6G technology expected to launch around 2030

While most people haven't even got their hands on a 5G smartphone yet, countries around the world are already preparing to compete in the field of 6G.

This echoes what Wu Hequan, academician of the Chinese Academy of Engineering (CAE), has said ¡ª that human beings will endlessly pursue industry and technologies.

Recently, a launching ceremony for 6G technology was jointly held by relevant departments in China, where a work team and an expert R&D team were established.

However, Wang Xi, vice-minister of Science and Technology, noted that 6G research is still at an early stage, and no clear direction has been set technologically. There¡¯s no unified definition of key indexes and application scenarios, he added.

At present, 5G has been applied to commercial use, and the next generation of telecommunication technology is expected to emerge around 2030.

Yi Zhiling, a chief scientist of the China Mobile Research Institute, said that the updating of telecommunication technologies is not decided by only technology. ¡°We don¡¯t know when 6G will be applied, but the time needed would be shorter than before,¡± Yi added.

According to the world¡¯s first white paper on the next-generation telecommunication technology, Key Drivers and Research Challenges for 6G Ubiquitous Wireless Intelligence, apart from the obvious improvement in transmission capabilities, 6G will realize seamless connection among ground, satellite and airborne networks.

When 6G integrates the digital and physical world, many of today¡¯s fantasies will become a reality.

Most of the 6G performance indexes will outnumber those of 5G by 10 to 100 times, and its maximum transmission speed could hit 1Tbps, meaning a high-definition movie can be downloaded within a second.

¡°More things will become endogenously smart,¡± Yi said. She explained that the one application of 5G is to connect physical matters with non-intelligent nodes, but in the future, even parts of ourselves will be virtualized, which will open up a whole new world.

Industrial research has planned many potential application scenarios of 6G, one being extended reality (XR), which is combined with virtual reality (VR), augmented reality (AR), and mixed reality (MR).

It is expected to create virtual objects in physical reality, objects which are changeable at will. Therefore, it enables people at different geographic locations to feel like they were actually in the same space, with a seamless connection between devices and senses.

Now, the US, China, Japan, South Korea and Finland have all started research on 6G, and scientists are trying to find a clear path of development for the technology.

Wang Xiaofei, a professor from the School of Computer Science and Technology of China¡¯s Tianjin University, believes that countries need to team up for this research as core technologies require a huge investment. Besides, 6G research must be elevated to the level of national strategies, he added.
(Nov.11,2019)  from english.gov.cn

point.gif (302 bytes)China's support for WTO reforms 'very important'

China's show of support for reforms to the World Trade Organization (WTO) during the ministerial meeting on the sidelines of the China International Import Expo (CIIE) on Nov 5 will be pivotal in helping kickstart the process, according to Keith Rockwell, director of the information and external relations division of the WTO.

"Reform means different things to different members. For some it means implementing the Doha Development Round. To others it means addressing the way in which national security exemptions are being implemented. There is a whole range of things and discussions are underway for each of these aspects," said Rockwell.

"The push to do so provided by the Chinese government this week has been very important in getting the reform effort up and going."

Though he acknowledged the need for reforms, Rockwell said he is confident that the WTO will always be relevant and necessary to world trade.

"The starting point for every regional trade agreement is the WTO. The multilateral trading system is the foundation on which the global economy rests. Issues like dispute settlement, rules for e-commerce, agriculture, fishery subsidies£­where else are you going to negotiate these things?" he said.

He noted that while unilateral actions taken by various countries in the past few years have been "a source of serious concern", these measures and their ramifications have also proven that the WTO's multilateral function is integral to the stability of the world economy. He referred to the International Monetary Fund's report last month which spelled out that the ongoing trade friction between China and the US will cause global growth this year to drop to its slowest pace since the 2008-09 financial crisis.

Rockwell, who is attending the CIIE for the second time, said that the expo can be seen as an example of how a country can prosper through trade.
"China has been an example of how, when a country follows the right policies and pursues matters in a certain way, gains from trade can be quite phenomenal. To lift 800 million people out of poverty is an unprecedented achievement in development," he said.

Rockwell also applauded the expo for lending a helping hand to businesses from lesser developed nations.

He said that inviting 40 least developed countries to the expo has allowed entrepreneurs from nations such as Nepal, Afghanistan, Cambodia to meet potential customers from all over the world, something that might not have been possible without the CIIE.

"China once benefited from the wisdom of other countries as it was developing and now it's sharing its wisdom with people from the poorer countries. I think that's very impressive," he said.
(Nov.8,2019)  from english.gov.cn

point.gif (302 bytes)China's service trade maintains steady growth

 
China's service trade totaled 4.02 trillion yuan (about $571 billion) in the first three quarters of this year, up 3 percent year-on-year, the Ministry of Commerce (MOC) said on Nov 4.

Service exports increased by 9.4 percent year-on-year to 1.42 trillion yuan, while imports came in at 2.6 trillion yuan, down 0.2 percent from a year ago, said the MOC.

The service trade deficit went down 9.8 percent to 1.18 trillion yuan in the period.

The MOC data also showed China's trade of knowledge-intensive services maintained rapid expansion, increasing by 11 percent year-on-year to 1.37 trillion yuan.

Exports of knowledge-intensive services grew by 13.7 percent to 717.72 billion yuan, while imports grew by 8.2 percent to 652.5 billion yuan.

In contrast to merchandise trade, trade in services refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing and accounting.

China has taken steps to improve the development of trade in services, including gradually opening-up the finance, education, culture and medical treatment sectors.
(Nov.4,2019)  from english.gov.cn

point.gif (302 bytes)China to further open seafood sector

China will continue to open its fast-growing seafood sector to the world and support free trade in the industry, an official said on Oct 30.

"China firmly upholds opening-up and will create opportunities for win-win cooperation in seafood trade for all countries," said Vice-Minister of Agriculture and Rural Affairs Yu Kangzhen on the sidelines of the China Fisheries and Seafood Expo (CFSE), which opened on Oct 30 in the eastern coastal city of Qingdao, Shandong province.

The country will continue to expand cooperation in fishery and seafood sectors with other countries, sharing its strength in technology, talents and capital, Yu said.

China has been increasing seafood imports as consumer demand grows. In 2018, the country imported about 5.2 million tons of seafood, rising nearly 7 percent year-on-year.

In the first eight months of this year, the country's seafood imports surged more than 24 percent year-on-year in terms of value, Yu noted.

"The increase indicated rapid growth in demand for high-quality seafood," Yu said. "On the other hand, it shows China's commitment to the multilateral trade system and firm stance toward free trade."

Founded in 1996, the CFSE is held annually and is one of the world's largest fishery expos. The expo this year attracted about 1,600 exhibiting enterprises from 53 countries and regions around the world.
(Otc.30,2019)  from english.gov.cn

point.gif (302 bytes)China's iron and steel industry sees rising revenue

China's iron and steel industry reported business revenue growth of 8.9 percent year-on-year in the first eight months, official data showed.

Business revenue hit 5.58 trillion yuan (about $788.7 billion) in the first eight months, according to a statement by the Ministry of Industry and Information Technology.

From January to September, the output of cast iron reached 612 million tons, up 6.3 percent year-on-year and that of crude steel grew 8.4 percent from one year earlier to 748 million tons.

During the period, rolled steel output in the country climbed 10.6 percent year-on-year to 909 million tons.

Steel exports fell 5 percent to about 50.3 million tons, whereas imports saw a decrease of 12.2 percent to hit 8.75 million tons in the first three quarters.
(Otc.28,2019)  from english.gov.cn

point.gif (302 bytes)Economy on path of stability

China's economy is expected to stabilize in the fourth quarter, as positive factors will drive a rebound for the economy, said experts and officials.

Wei Jianguo, vice-president of the China Center for International Economic Exchanges, said the economy is running steadily with a slower growth trend.

"It is unlikely we will see GDP moderate to lower than 6 percent growth, as we will see a spike in consumption in the fourth quarter," Wei said at a forum held by China News Service. "It is expected we will see 6.2 percent growth in GDP in the fourth quarter."

Considering a number of favorable conditions, China is set to meet the full-year target and the economy will recover in the next year, Wei added.

In the first three quarters, the number of newly employed people in urban areas totaled 10.97 million, which was 99.7 percent of the full-year target.

"China's employment situation is holding steady, better than other major economies," he said. Wei told the media that the current employment situation will lay a solid foundation for stable and healthy economic development next year.

China's economic prospects will remain solid next year, with its ongoing efforts in deepening reform and opening-up as well as economic and trade cooperation with foreign countries, Wei added.

Wei's comments came as China's GDP slowed to 6 percent in the third quarter, the weakest pace in almost three decades, official data showed. In the first quarter, GDP rose by 6.4 percent.

Ning Jizhe, vice-chairman of the National Development and Reform Commission and head of the National Bureau of Statistics, said the Chinese economy remained remarkable in the third quarter when compared with others, with the fastest growth rate among major economies worldwide.

"China is now transitioning from the high-speed growth pattern to a stage of high quality development, paying more attention to creating jobs, increasing people's incomes and protecting the ecology and the environment, "Ning told media on Oct 23 at a State Council Information Office news conference in Beijing.

Notably, China's value-added industrial output in September jumped 5.8 percent year-on-year, 1.4 percentage points higher than that in August.

Zhu Jianfang, chief economist with CITIC Securities, believes China is able to meet the full-year goal of growth in a range of 6 percent to 6.5 percent this year.

"The government's previous positive measures are taking effect, and it is possible to see the economy stabilize in the fourth quarter with 6 percent growth," Zhu said at a recent monthly conference of China Macroeconomy Forum in Beijing.

Brian Householder, CEO of data specialist vendor Hitachi Vantara, a wholly owned subsidiary of Hitachi, said he saw the big potential in the Chinese market amid sluggish global growth. "The downward pressure is increasing, and we all see the difficult market circumstances not just in China but globally."

Householder noted an increasing number of Chinese companies are actively embracing digital transformation, which will be a big push for the new data economy and the most resilient part of the Chinese economy.

"We see great opportunities in the Chinese market," Householder added. "Seeing the growing trend in digital market, we will continue to invest in and develop the business in the China market."
(Otc.25,2019)  from english.gov.cn

point.gif (302 bytes)Private enterprises invest nearly 14b yuan for poverty alleviation

Over 88,000 private enterprises in China have contributed more than 13.9 billion yuan ($1.99 billion) of social investment towards targeted poverty reduction and alleviation.

The figures were announced on Oct 14 in Beijing at a forum on the nationwide targeted poverty alleviation action.

By the end of June, these companies have also created 661,500 jobs and had 941,000 people trained through investing more than 75.4 billion yuan in industrial sectors, according to the forum.

Since October 2015, China's private companies have been encouraged to join in poverty alleviation efforts through assisting poor villages and households.
(Otc.15,2019)  from english.gov.cn

point.gif (302 bytes)Forum on global Chinese language media held in N China

The Tenth Forum on the Global Chinese Language Media opened on Oct 12 in the city of Shijiazhuang, northern China's Hebei province.

The forum, co-sponsored by the Overseas Chinese Affairs Office of the State Council, the People's Government of Hebei province and China News Service, focused on Chinese language media and China's stories.

Addressing the opening ceremony, Shen Yueyue, vice-chairwoman of the National People's Congress Standing Committee, encouraged Chinese language media to tell China's stories well, so as to enhance connection, communication and cooperation between China and the world.

More than 600 guests attended the opening ceremony, including executives of over 400 Chinese language media organizations from around the world, as well as heads of China's major news outlets and influential media organizations.
(Otc.12,2019)  from english.gov.cn

point.gif (302 bytes)China leads emerging economies in latest global competitiveness ranking

China is by far the best performer among the five BRICS economies in terms of competitiveness, said the World Economic Forum (WEF) on Oct 9 in the latest annual report assessing the productivity and long-term growth of 141 economies.

China ranks 28th among the world economies, 15 places ahead of the Russia, 32 places ahead of South Africa and some 40 places ahead of both India and Brazil, showed the 2019 Global Competitiveness Report by the WEF.

China's position in the ranking was unchanged from last year, but its overall score increased by 1.3 points, the report showed.

The report measured an economy's performance through 103 indicators in 12 "pillars", showing that China has obvious strengths in various areas such as the sheer size of its market, macroeconomic stability, the Information Communication and Technology (ICT) adoption, and increasing innovation capability.

In the ICT Adoption, China outperformed 25 of the 36 member countries of the Organization for Economic Co-operation and Development (OECD). As to the healthy life expectancy, China scores better than the United States and slightly under the OECD average.

With a score of 84.8, Singapore took the crown of the world's most competitive economy this year from the United States.

The IMF lowered the US competitiveness to the second place partly due to the country's trade uncertainty, as its trade openness is more than four points lower than that in 2018, according to the report.

China's Hong Kong Special Administrative Region, the Netherlands and Switzerland are among the top five, followed by Japan, Germany, Sweden, the United Kingdom and Denmark, the report showed.
(Otc.9,2019)  from english.gov.cn

point.gif (302 bytes)White paper published to enhance understanding of China's development

China on Sept 27 published a white paper, titled "China and the World in the New Era," to help the international community better understand China's development, on the occasion of the 70th anniversary of the founding of the People's Republic of China (PRC).

Issued by the State Council Information Office, the white paper systematically introduced China's achievement and path of development, as well as where China is going, according to Xu Lin, director of the State Council Information Office.

Noting that over the last 70 years the PRC has witnessed profound changes and achieved a miracle of development unprecedented in human history under the leadership of the Communist Party of China (CPC), Xu said that China now has an impact on the world that is ever more comprehensive, profound and long-lasting, and the world is paying ever greater attention to China.

The white paper said that China has completed a course that took developed countries several hundred years in just a few decades.

China has now become the world's second largest economy, taken care of the material needs of its nearly 1.4 billion people and achieved moderate all-around prosperity, according to the white paper.

The white paper also highlighted that China's development lies in self-reliance and hard work, the country is developing through interactions with other parts of the world and has injected positive energy into world peace and development.

In the past seven decades, the ultimate reason for China's success is that China has found and will continue on the right path ¡ª socialism with Chinese characteristics, under the leadership of the CPC, it said.

The path is based on China's actual conditions, which prioritizes the people's interests, said the white paper, adding that it is a path of reform and innovation, of seeking common development through opening up and of law-based governance.

"China is the main stabilizing force and power source of the world economy," read the white paper.

China's all-around opening up has created more opportunities for all countries to share the benefits of China's development, the country is providing more public goods to the international community as well as experience and reference for other developing countries, and China will never seek hegemony, it said.

As the world is undergoing the greatest changes in a century, the white paper called for building a community with a shared future for humanity, which offers a new option to the international community.

All countries should join forces to build a new model of international relations, promote a new model of economic globalization, uphold the international system with the United Nations at its core, and promote exchanges and mutual learning among civilizations.

"China cannot develop in isolation from the rest of the world, nor can the world as a whole maintain peace, development, prosperity and stability without China," the white paper said.

China continues to place its own development in the coordinated system of human development, while pursuing mutually beneficial cooperation and common development, upholding and advancing economic globalization, developing global partnerships, supporting multilateralism and upholding international equity and justice, as well as taking a lead in reforming and developing the global governance system, according to the white paper.

"In this new era, China will not waver in its commitment to forging ahead on the path of socialism with Chinese characteristics, pursuing mutual learning and mutually beneficial cooperation, and working together with the rest of the world," said the white paper.

In the future, China will embrace the world in a more open and inclusive manner, engage in more interactions with other countries, and bring more progress and prosperity, it said.

The white paper, which includes preface, main body and conclusion, is published in eight languages: Chinese, English, French, Russian, German, Spanish, Arabic and Japanese, by the People's Publishing House and the Foreign Languages Press.

It is available at Xinhua Bookstore outlets across the country.
(Sep.27,2019)  from english.gov.cn

point.gif (302 bytes)China food and catering expo opens

 The 2019 China International Food & Catering Expo opened in the city of Changsha, Central China's Hunan province on Sept 20.

The expo, held by the Ministry of Commerce and the Hunan provincial government, will last for three days.

A total of 1,600 enterprises from home and abroad are attending the expo, presenting over 10,000 kinds of food such as coffee from Brazil, honey from Australia, wine from Austria and chili sauce from China in six exhibition halls.

A forum on the development of China's food and beverage industry will also be held to discuss the future development trend of the industry.
(Sep.20,2019)  from english.gov.cn

point.gif (302 bytes)China's internet security industry continues to grow

China's internet security sector has maintained continuous growth in recent years, said a report released by the China Academy of Information and Communications Technology (CAICT).

The market scale of the sector went up 19.2 percent year-on-year to 51.1 billion yuan (about $7.22 billion) in 2018, and is expected to reach 63.1 billion yuan this year, said the report.

China's environment for the development of internet security has been constantly optimized, with the number of enterprises in the sector nearing 2,900, said Wang Zhiqin, deputy director of the CAICT.

In the meantime, security products and service systems for the industrial internet have been initially established, and the research and development of 5G network security is underway, according to Wang.
(Sep.18,2019)  from english.gov.cn

point.gif (302 bytes)China's retail sales up 7.5% in August

China's retail sales of consumer goods rose 7.5 percent year-on-year in August to 3.39 trillion yuan ($479.78 billion), the National Bureau of Statistics said on Sept 16.

The pace was 0.1 percentage points lower than the previous month.

Sales of consumer goods, excluding automobiles, rose 9.3 percent year-on-year in August to 3.08 trillion yuan. The pace was 0.5 percentage points higher than the previous month.

Retail sales in urban areas surged 7.2 percent to 2.91 trillion yuan. Rural retail sales climbed 8.9 percent to 476.2 billion yuan.

In the first eight months, retail sales of consumer goods climbed 8.2 percent year-on-year to 26.22 trillion yuan. The pace was 0.1 percentage points lower than that in the first seven months.

Online sales surged 16.8 percent year-on-year to 6.44 trillion yuan in the first eight months, and the growth rate was similar to that in the first seven months.

Online sales of physical commodities surged 20.8 percent year-on-year to 5.07 trillion yuan, accounting for 19.4 percent of the total volume of consumer goods sales. The ratio was 2.1 percentage points higher than the same period last year.
(Sep.11,2019)  from english.gov.cn

point.gif (302 bytes)China to speed up creation of world-class energy interconnection

The State Grid Corporation of China (SGCC) will accelerate the creation of a world-class energy interconnection enterprise, said Liu Guoyue, the SGCC deputy general manager.

In his speech at the two-day 2019 Global Grid Forum, which kicked off in Vancouver on Sept 10, Liu introduced the SGCC practice in the construction of ultra-high-voltage (UHV) projects in recent years.

The forum, which is jointly held by the Canadian Electricity Association, the Edison Electric Institute of the United States and the Global Energy Interconnection Development and Cooperation Organization (GEIDCO), centers on global power grid development, innovation and investment in the new century. It seeks to shed light on some core issues including the development of renewable energy and transmission, multinational power interconnection, power grid planning, and technological innovation.

Liu said the SGCC has developed technologies of long-distance and large-capacity power transmission.

It has built a total number of 19 UHV projects. Eight are alternating current projects and the rest direct current projects, known as "8 AC 11 DC," with an inter-regional and inter-provincial power transmission capacity of 210 GW and a total grid-connected installed capacity of 1,470 GW, among which renewable energies including hydro, wind and solar power account for 36 percent.

Liu told Xinhua that the power system will continue to develop toward highly clean power sources and extensively interconnected power grids, which is determined by the transition to clean and low-carbon energy. In the future, a power transmission and distribution network with stronger resource allocation capabilities, intelligent interaction capabilities, and security capabilities needs to be built at a faster pace. The SGCC will accelerate the creation of a world-class energy interconnection enterprise featuring "three characteristics and two networks."

"Three characteristics" means it serves as a hub and a platform offering shared benefits. "Two networks" means to promote the construction of a strong smart grid and a ubiquitous power Internet of Things in a coordinated manner.

Meanwhile, Bi Yaxiong, vice-president of China Southern Power Grid Corporation, who also attended the forum, said that to date, over 50 percent of the installed capacity and power generation from service areas of China Southern Power Grid are from non-fossil fuel resources.

His company has extracted more than 80 percent of its hydropower resources from the west region while about 60 percent of the electricity load and electricity consumption are concentrated in the east.

"That's why 18 trans-provincial and trans-regional power transmission channels of 500 KV and above have been built by China Southern Power Grid so that clean energy in the west could be continuously delivered to load centers thousands of miles away in the east," he said.

At the forum, the GEIDCO has called on all parties to make concerted efforts toward new prospects for global energy and power development by innovating in four aspects, namely the development concept, technical equipment, business model and market mechanism.
(Sep.11,2019)  from english.gov.cn

point.gif (302 bytes) China sees growing new yuan loans for real economy
 China saw growing financing support for the real economy, with yuan loans to the field rising at a faster pace in the first seven months of this year.

Outstanding loans supporting real economic activities increased 10.8 trillion yuan (about $1.5 trillion) in the period, up around 780 billion yuan from the increase during the same period of 2018, according to the China Banking and Insurance Regulatory Commission.

Infrastructure, one of the focuses of financing support, saw outstanding loans rise 1.7 trillion yuan. High-tech sector, manufacturing upgrades and social services were also major financing targets.

Inclusive loans to small and micro firms rose 26.5 percent in the period, while their overall financing costs dropped by more than one percentage point.

China has been stepping up efforts to improve financing efficiency for the real economy, with targeted measures to expand financing channels and reduce financing costs for small and micro firms.

(Sep.3,2019)
 from english.gov.cn

point.gif (302 bytes)Chipoint.gif (302 bytes)point.gif (302 bytes)nese hybrid rice benefits the world

With high yield and superior quality, Chinese hybrid rice varieties have been introduced around the world, benefiting more people.

Hybrid rice started to go abroad in 1979. Back then, the Ministry of Agriculture presented 1.5 kg of hybrid rice seeds to the Occidental Petroleum Corporation, an American oil and gas exploration and production company. The yield of the hybrid rice was over 33 percent more than that of local varieties.

Since then, China has continued to work with the US on hybrid rice research. This year, hybrid rice accounted for 60 percent of the total rice area in America, said Yuan Longping, a pioneer in hybrid rice research who has been invited to the US several times to share the hybrid breeding technology.

The technology has since spread to more countries. The hybrid rice research center in Central China¡¯s Hunan province and a local agriculture company have jointly held nearly 100 international workshops on hybrid rice technology and trained over 10,000 technicians from around 80 developing countries in Asia, Africa and Latin America.

Yuan said that to date, the overseas planting area of hybrid rice has exceeded 7 million hectares, with India owning the largest area of more than 2 million hectares.

Hybrid rice is produced by crossbreeding different varieties of rice. The average yield of hybrid rice is at least 20 percent more than that of regular rice, feeding 70 million more Chinese people annually, Yuan said.
(Aug.29,2019)  from english.gov.cn

point.gif (302 bytes)China pushes for forest tourism

Amid China's ecological protection efforts, the government is pushing for realizing the economic value of lucid waters and lush mountains through tourism development and poverty alleviation programs.

More than 300 experts, scholars and officials of forest parks and scenic spots attended a symposium on "poverty alleviation through developing forest parks and forest tourism" in the city of Guyuan, Northwest China's Ningxia Hui autonomous region, on Aug 20.

Speaking at the symposium, Lan Siren, president of the Forest Park and Forest Tourism Branch of the China Forestry Association, said most of the poverty-stricken areas in China are located in mountainous and forest areas, and poverty alleviation through forest tourism has unique geographical and industrial advantages.

According to the latest data from the State Forestry and Grass Administration available at the symposium, there are 898 national forest parks in China, covering an area of 14.66 million hectares, which together draw 1.6 billion visitors annually, accounting for 28.9 percent of the total number of domestic tourists.

Forest tourism has created a comprehensive social output value of 1.5 trillion yuan ($212 billion), accounting for 29.2 percent of the country's domestic tourism income.

The figures also showed that there are 1.1 million impoverished individuals living in the forest areas. The local authorities are making efforts to increase their income by developing forest tourism, which contributes an average annual income of 3,500 yuan per household.

The symposium was held in Guyuan to showcase the city's forest tourism development achievements.

Located in the southern mountainous region of Ningxia, Guyuan was considered "unsuitable for human survival" by the United Nations Food and Development Program in 1972, because of its fragile ecology and persistent droughts.

After decades of ecological rehabilitation efforts, coupled with grazing bans, it now boasts a total area of forestry land of 4.22 million mu (281,333 hectares) with a 73 percent coverage rate of forest and grass.

Pengyang county in Guyuan received 300,000 visitors during its Mountain Flower Festival in April. Through developing tourism, the county officially lifted its cap on poverty at the end of April.

Lan Siren warned that the development of domestic forest tourism is still at its initial state with problems of low-level infrastructure and a lack of forest tourism products. After tackling the hard nut of poverty alleviation, local authorities should consider the promotion of eco-tourism, he said.
(Aug.21,2019)  from english.gov.cn

point.gif (302 bytes)Data center efforts gaining speed in China

China has taken the lead over global peers in data center construction, with more enterprises looking to scale up their data centers to ensure reliability and stability of data services, as the application of 5G, the internet of things, wearable devices and artificial intelligence spurs a burgeoning demand for computing power, experts said.

The total market size of China's booming data center industry stood at 122.8 billion yuan ($17.8 billion) last year, up 29.8 percent year-on-year, and the size is expected to reach 200 billion yuan by 2020, according to a report released by idcquan.com, a Beijing-based industry information provider and consultancy.

"With the rapid development of 5G, the internet of things, artificial intelligence, virtual reality and the commercial application of these new cutting-edge technologies, the demand for data processing and information interaction is increasing, which will speed up the construction of data centers and lead to explosive growth of the industry," said Wang Ruobing, a senior analyst with idcquan.com.

Wang said he remains bullish on prospects for the data center sector, with the market size reaching 190 billion yuan by 2019. "Internet companies have made the biggest contribution to the sector, followed by traditional financial industry, governments, manufacturing industry and energy industry," Wang said.

In addition, China is boosting its computing power and has become the world's leader in terms of supercomputer volume. The nation continues to dominate the list of the world's fastest supercomputers by the number of computer units, according to a semiannual ranking of the Top 500 list.

China topped the supercomputer list with 219 systems, or 43.8 percent of the total, followed by the US with 116 systems and Japan with 29, followed by France, Britain and Germany, according to the ranking.

Major Chinese supercomputer vendors all improved their share in the past six months. Lenovo has the greatest number of systems on the list£­173£­followed by Inspur with 71£­and Sugon with 63.

The Top 500 list is considered one of the most authoritative rankings of the world's supercomputers. It is compiled on the basis of machine performance on the Linpack benchmark by experts from the United States and Germany.

China's leading supercomputer manufacturer Dawning Information Industry Co Ltd, also known as Sugon, is beefing up efforts to build a national-level advanced computing innovation center in Tianjin, considering the burgeoning demand for computing power. The center is set to be completed in 2021.

Cao Zhennan, vice-president of Sugon, said the company focuses on building data centers across the nation, including Jiangsu, Shanxi and Gansu provinces, and promotes the layout of industries related to the advanced computing, in a bid to boost the development of industrial internet, intelligent manufacturing, intelligent city and artificial intelligence.

"We will promote the integration of advanced computing with industry applications," said Cao. He also noted that green computing, which means the environmentally responsible and eco-friendly use of computers and their resources, has become a trend for the construction of IT infrastructure, adding the company has invested a lot in saving energy, improving computing efficiency and integrating advanced technologies.

Sugon is one of China's earliest and largest high-performance computing vendors. Moreover, it is dedicated to developing servers, storage, urban and industrial cloud computing, and big data businesses, and promoting the building of cloud data service networks covering hundreds of cities and sectors.

He Baohong, the cloud computing and big data research institute under the China Academy of Information and Communications Technology, said both data centers and computers provide computing resources and services for users, adding the data centers will become more and more open and standardized in the future.

Tech giants like Apple Inc, Tencent Holdings Ltd and Huawei Technologies Co are stepping up efforts to build data centers in Southwest China's Guizhou province due to its mild climate and ample power resources.

Last year, a data center belonging to Tencent began trial operations in Guizhou. The core data center facilities have been deployed inside tunneled caves drilled inside a hill of about 100 meters high in the Guian New Area.

Pony Ma, chairman and CEO of Tencent, said the Qixing data center will store the company's most important data in the future. The new mega data center will include more than 30,000 square meters of tunneled caves, while the total data center area covers about 513,000 square meters.

With an investment of $1 billion, Apple's data center, which will cover 67 hectares in Guian New Area, will offer iCloud services on the Chinese mainland. Starting Feb 28, 2018, iCloud services on the Chinese mainland are being operated by a local partner, Guizhou-Cloud Big Data Industry Co Ltd.
(Aug.9,2019)  from english.gov.cn

point.gif (302 bytes)PBOC boosts financing for small firms

China's central bank has lifted its re-lending quota by 50 billion yuan ($7.25 billion) to boost financial support for small and private businesses and support economic growth.

The move came after China's top leadership vowed to encourage financial institutions to increase medium-and long-term financing to manufacturing companies and private firms at a key meeting held on July 30.

The re-lending quota will be granted to five types of local financial institutions£­city commercial banks, rural commercial banks, rural cooperative banks, village banks and private banks, the People's Bank of China said in a statement on July 31.

The decision was seen by analysts as a direct response to the central leadership's order to solve the persisting problems of credit shortage and high financing costs for small and private businesses.

Since the beginning of this year, the central bank has enhanced financial support for small businesses, with outstanding re-lending loans reaching 226.7 billion yuan by the end of June. After the increase, the country's re-lending quota supporting small firms amounted to 369.5 billion yuan.

Re-lending is a monetary tool used by the central bank to increase financial institutions' liquidity and guide credit flows.

A meeting of the central bank on July 31 also urged lenders to improve their credit structure and asked them to "reasonably control" credit allocation to the property sector and boost financial support to micro companies, advanced manufacturers and high-tech firms.

Cao Chao, an analyst at Huatai Futures Co Ltd, said that the increased re-lending quota will make banks' credit provision "more targeted" and will help reduce smaller businesses' financing costs.

A survey of more than 500 small-and medium-sized enterprises nationwide in China by Standard Chartered showed that business sentiment softened in July and their investment appetite weakened due to falling profits and rising uncertainties amid a slowing economy.

However, credit conditions for small businesses improved, driven mainly by better bank credit access for SMEs, the survey found.

"The reading for banks' willingness to lend to SMEs rose to 60.4 in July, reversing the downward trend in the second quarter. This suggests that commercial banks likely enhanced credit support to SMEs again, after the surge in the first quarter," it said.

Despite the improved credit conditions, borrowing costs for SMEs remain elevated and their cash flow is still under pressure, pressing for moves to lower real lending rates for SMEs, the survey said.

The official purchasing managers' index for China's manufacturing sector also showed a divergence in the activities of big companies and smaller ones in July. The reading for large companies rose to 50.7 while the index for activities of SMEs dropped.

"The indicators of the performance of smaller companies were more volatile than that of the large companies, meaning that there are still a lot uncertainties in the operating environment for smaller firms and there is still a lack of business confidence. Future policies should continue to offer more support to them," Wu Chaoming, vice-president of the Institute of Caixin International Economics Co Ltd, said in a research note.
(Aug.2,2019)  from english.gov.cn

point.gif (302 bytes)China's manufacturing PMI sees uptick in July

The purchasing managers' index (PMI) for China's manufacturing sector grew to 49.7 in July, up from 49.4 in June, the National Bureau of Statistics (NBS) said on July 31.

A reading above 50 indicates expansion, while a reading below reflects contraction.

That was the first month-on-month PMI growth in four months, said NBS senior statistician Zhao Qinghe.

The sub-index for production gained 0.8 points to 52.1 in July, signaling faster expansion, while that for new orders rebounded by 0.2 points to 49.8.

Among the 21 industries surveyed, 12 were in the expansion zone, up from 9 in June, Zhao said when elaborating on the economic indicator.

Market sentiment warmed up as the sub-reading for business expectation rose to 53.6 in July, he said.

The policies of cutting taxes and fees and targeted reserve requirement ratio reduction have further eased the burden on enterprises and stabilized their confidence, Zhao said.

The PMI of large enterprises was higher than those of small and medium ones, which saw up to 0.4 points of month-on-month drop.

A meeting held on July 30 by the Political Bureau of the Communist Party of China Central Committee decided the cuts would be further implemented amid holistic efforts to maintain stable growth.

The financial supply-side structural reform will be advanced and financial institutions should be encouraged to increase medium- and long-term financing to the manufacturing industry and private companies.

Targeted measures will be taken to support the development of private enterprises, according to a statement released after the meeting.

The data on July 31 also showed the China's composite PMI went up 0.1 points to 53.1, which pointed to steady business expansion.
(July31,2019)  from english.gov.cn

point.gif (302 bytes)China leads in Fortune Global 500 list of firms

The latest Fortune Global 500 list reveals more than that Chinese firms outnumber counterparts from the United States, but also demonstrates how China¡¯s private sector is reshaping the global business landscape, experts said.

Chinese companies accounted for 129 of the world¡¯s 500 largest corporations by revenue, according to the list published on July 22, exceeding the US, at 121, for the first time since the rankings began in 1990.

China was also the top performer in terms of newcomers and companies with the largest leaps in rankings. Most Chinese enterprises on last year¡¯s list had higher rankings this year.

¡°China¡¯s performance indicates that the torrents of merger and acquisition activities aiming to forge globally influential conglomerates are starting to pay off,¡± said Jiang Qingyun, a business professor at Fudan University¡¯s School of Management. ¡°It¡¯s a natural reflection of the country¡¯s overall economic status.¡±

Of the 25 companies that made their debut or reentered the list, 13 were from China. They included State policy lender China Development Bank, the world¡¯s largest rolling stock manufacturer CRRC and mobile phone maker Xiaomi.

China led in the number of metal, construction, automotive and real estate companies. However, healthcare and medical companies in the US outnumbered Chinese counterparts on the list.

¡°On the plus side, China is shaping up to have a number of major enterprises in select industries,¡± Jiang said. ¡°Meanwhile, the temporary lack of consumer-sector businesses from China on the list indicates that the vast domestic market has yet to be fully tapped and there is plenty of room for growth.¡±

Chinese technological powerhouses are making strides. Huawei moved up to 61 from 72 last year. Among the 10 companies registering the biggest jumps, six came from China, including tech titans Alibaba Group which was up 118 spots to 182, as well as Tencent, which moved up 94 places to 237.

¡°The fostering of Chinese companies in the digital area, such as providing better financing channels like the STAR Market, is bound to catapult them to the forefront of driving the next wave of economic growth,¡± said Zhuo Fumin, chairman of Vstar Capital.

The 12th Global Innovation Index, soon to be published by researchers from INSEAD, Cornell University and the World Intellectual Property Organization, depicts China¡¯s continued progress as a global innovator.

Bruno Lanvin, executive director for Global Indices at INSEAD, said China broke into the top 20 of the index last year and the country continued to make progress in the area of quality innovation where it remains a strong leader among middle-income countries.

The combined revenue of Chinese companies accounted for 25.6 percent of the Fortune Global 500 list¡¯s total, behind the US at 28.8 percent.

The average profit of the 119 Chinese companies£­not including those based in Taiwan£­on this year¡¯s list stood at $3.5 billion, lower than the list¡¯s average of $4.3 billion. But it also improved from $3.1 billion for the 111 Chinese companies on last year¡¯s list.

¡°That is a fact to be expected. Chinese companies are relatively smaller in profitability but they are growing at a much faster pace,¡± Jiang said.
(July24,2019)  from english.gov.cn

point.gif (302 bytes)China¡¯s economic journey wins international plaudits

China is giving more weight to its quality of growth according to a recent article published by the UN Economic and Social Commission for Asia and the Pacific.

The country¡¯s policies and measures focusing on technology, innovation and sustainable development can provide an example for other developing countries, the article read.

Despite the sluggish global economy, China has made remarkable achievements in innovation and a switch toward high-quality growth, the article said.

China, the world¡¯s second-largest economy, has managed to balance economic growth and inclusiveness, innovation and sustainability

As China¡¯s structural reform is in full swing, the article pointed out, ¡°the country could maintain relatively high rates of economic growth.¡±

Accelerated urbanization, a rising ¡°middle-class¡± population and increasing government measures to optimize the social security system could narrow rural and urban income disparities as well.

In a report released in March this year, ESCAP held China¡¯s transformation toward an innovative, inclusive and sustainable economy has ushered in significant chances in the Asian-Pacific region. It also predicted in the coming 10 years, Asian-Pacific countries will obtain $349 billion in net benefits from China¡¯s economic development.

Hikaru Nagano, an expert from the Asahi Broadcasting Corporation, said China has turned from its sole concentration on growth rate in favor of quality and sustainability.

Green development is among the more noticeable changes in China¡¯s economy. The country has pushed forward international green cooperation and contributed to a greener earth by establishing the Belt and Road International Alliance for Green Development and promoting implementation of the Paris Agreement on climate change.

The article also said China has put in great effort to curb pollution while speeding up the transition to clean energy. A carbon emission trading system was launched in the country in late 2017 in order to reach 20 percent of all energy via renewables by 2030.

Eiichi Shindo, honorary professor at the University of Tsukuba in Japan, said China is a new pioneer of advanced green technology. There is a huge cooperation space for China and Japan in the application of environmental protection technology, he added.

Innovation is yet another focus of China¡¯s supply-side structural reform. If all goes according to plan, by 2030 it will be a leading player in artificial intelligence and a global innovative hub.

Thomas Bernes, executive director of Canada¡¯s Centre for International Governance Innovation, said China, as a powerhouse of technology and innovation, has actively promoted cooperation to make the world economy sustainable.

Although any economy will inevitably face downward pressure when it matures, the quality of growth differs largely depending on policy choices. Per the article: ¡°It¡¯s highly important and urgent for policymakers to switch their mindsets to prioritize policies that support people and the planet.¡±

The successful case of innovative, inclusive and green development in China should be studied by Thailand and other Southeast Asian countries, said Tang Zhimin, head of the China-ASEAN Research Center at the Panyapiwat Institute of Management.

Tang concluded China has set a good example in its governance ability, infrastructure construction in public transport and mobile internet, and integration of farmers and small and medium-sized enterprises with domestic and foreign markets.

Dr. Tharakorn Wusatirakul, deputy head of the China-Thai Belt and Road cooperation research center at the National Institute of Development Administration of Thailand, used the term ¡°center of technology and innovation¡± to describe China, and noted its transformation has been an inspiration for countries in Southeast Asia.
(July16,2019)  from english.gov.cn

point.gif (302 bytes)Central bank unveils plan on digital currency

The central bank is accelerating its efforts to introduce a government-backed digital currency, aiming at securing a cutting-edge position in the global cryptocurrency race, a senior official said on July 8.

The People¡¯s Bank of China, the central bank, is organizing market-oriented institutions to jointly research and develop a central bank digital currency and the program has been approved by the State Council, the country¡¯s Cabinet, Wang Xin, director of the PBOC Research Bureau, said at a seminar at Peking University.

The central bank has been watching the emergence of a new global digital currency called Libra, introduced by Facebook, the world¡¯s biggest social network company, on June 18.

¡°We will keep a close eye on the new global digital currency,¡± said Wang, making the latest comment on Libra from the country¡¯s monetary authority.

Unlike other cryptocurrencies, such as Bitcoin, Libra is described in a Facebook white paper as a currency ¡°fully backed by a reserve of real assets¡±. A basket of bank deposits and short-term government securities will be held in a Libra reserve to guarantee its value.

Twenty-seven companies and entities have joined the Libra founder group, including the world¡¯s traditional payment giants Visa and Mastercard.

Facebook has indicated it intends to establish a worldwide independent governance body, based in Geneva, aiming to ultimately include 100 members by the scheduled launch time in 2020.

¡°From the government¡¯s perspective, we pay more attention to its influence on financial services, monetary policy and financial stability,¡± Wang said.

He said that if Libra can be successfully launched, it may challenge the existing United States dollar-centered international monetary system, a possibility that must be closely monitored.

Huang Yiping, director of the Digital Finance Research Center of Peking University and a former member of the PBOC monetary committee, said the birth of Libra serves as an ¡°alert¡± for China¡¯s digital currency innovators and regulators.

Any role for Libra beyond the payment function could bring changes to the rules of the global monetary system, and regulators should pay close attention to that possibility, Huang said.

The world¡¯s economies have yet to decide how to cope with the challenge by the Libra system, though accelerating the launch of their own digital currencies could be a counterbalance, according to Wang of the PBOC.

Wang also said that the central bank digital currency could be a new monetary policy tool, or an investment asset that carries an interest rate to satisfy investors¡¯ demand for value. Wang¡¯s discussion of the matter indicates it might also be used as a reference for bank interest rates on deposits.

¡°A digital currency issued by the central bank can improve the efficiency of monetary policy, and help to optimize the payment system,¡± he said.

Some experts suggested launching a Chinese version of Libra, using Facebook as a reference, to compete in the global cryptocurrency race, and they said the Chinese digital currency also could be used domestically. But ¡°everything is just under discussion¡±, the PBOC¡¯s Wang told China Daily.

Li Zhenhua, executive director of the Ant Financial Research Institute, part of the Alibaba Group, said the market is worried about whether Libra will develop into a type of credit money. If that were to happen, it would challenge central banks¡¯ monetary sovereignty, Li said. Credit money is a future monetary claim, like an IOU.

¡°We will improve international coordination and cooperation in digital finance, and to enhance global communication on Libra and CBDC. China will push forward the establishment of unified standards and regulatory rules,¡± said Wang.

The PBOC was one of the earliest central banks to start digital currency innovation. The program began in 2014, led by former governor Zhou Xiaochuan.

China¡¯s monetary authority identifies the nature of digital currency as ¡°a substitute for cash¡±, rather than a speculative instrument, according to the central bank.

Research work is led by the PBOC¡¯s Currency Gold and Silver Bureau. The department, primarily in charge of traditional currency management, is shifting to digital currency innovation because the use of cash is declining in China amid booming digital payment systems.

Peking University launched a new program on July 8 called Open Research Initiative of Digital Finance to provide a research platform for innovation in digital financial products.
(July9,2019)  from english.gov.cn

point.gif (302 bytes)World New Energy Vehicle Congress starts in China¡¯s island province

 
The 2019 World New Energy Vehicle Congress kicked off on July 2 in the city of Boao, South China¡¯s island province of Hainan, as industry heavyweights and policy makers gathered to discuss the future of the booming field.

The congress, which will be concluded on July 3, focuses on discussions about new energy vehicles (NEVs) market among leading worldwide vehicle manufacturers.

China is a global leader in manufacturing NEVs with more than 200 types of new energy cars launched in the first half of 2019, and the Chinese government has a clear road map to beef up the industry, said Horbert Diess, chairman of the Board of Management of Volkswagen AG, at the congress.

¡°Reform and opening-up is a driving force for China¡¯s auto industry since it enables the industry to go global and attract world attention,¡± said Fu Yuwu with the China Society of Automotive Engineers.

First Automotive Works (FAW), one of the leading automakers in China, said 40 percent of the passenger vehicles produced by the company will be NEVs by 2025. The ratio is expected to go up to 60 percent by 2030, according to Xu Liuping, chairman of the board with FAW Group.

SAIC Motor said it is applying 5G technology to make driving more intelligent. Chongqing Changan Automobile Co Ltd aims to mass produce Level-3 auto-driving cars and connect all of its new products to the internet by 2020.

The ongoing technological revolutions have also propelled the auto industry into vigorous and prompt actions, said Wan Gang, president of the China Association for Science and Technology.

Wan added that auto retailers around the world should seek cooperation and innovation and make due contribution to the industrial upgrading of the auto market.

By the end of 2018, over 5.64 million NEVs have been sold around the world, and China accounted for 52.8 percent of them.
(July3,2019)  from english.gov.cn

point.gif (302 bytes)Port city Dalian leads in linking China and Europe under BRI

A container train fully loaded with automobiles and steel pipes left Dalian Port on June 24 in Dalian, Liaoning province.

It will arrive in Moscow, Russia, within 14 days. The traditional waterways would have taken 45 days, said Xia Ting, a manager with the Dalian Port Container Development Co Ltd of Liaoning Port Group.

¡°As a port city, Dalian has significant advantages in opening the China-Europe freight train route,¡± said Xia, since it costs less and can reach other regions more conveniently.

Dalian Port has opened 18 routes to European cities since 2013. Last year, the transport capacity of the port reached 28,000 twenty-foot equivalent units (TEUs).

¡°The development of China-Europe freight train at Dalian Port has effectively promoted the interconnection of railway facilities between Dalian and countries and regions along the Belt and Road Initiative, and has led to more investment and trade,¡± said Qi Yonghong, deputy director of the Dalian Municipal Development and Reform Commission.

In 2015, the National Development and Reform Commission of China and the Ministry of Commerce put forward ¡°the Vision and Action on Jointly Building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road,¡± which emphasized the port construction of 15 coastal cities, including Dalian.

Over the past four years, Dalian has continuously improved the level of foreign exchanges and cooperation and actively integrated into the Belt and Road Initiative.

Dalian Port has established trade exchanges with more than 300 ports in more than 160 countries and regions around the world. More than 98.5 percent of foreign trade containers, all of the commercial vehicles and more than 60 percent of imported crude oil in Northeast China have been transferred from Dalian Port, making it the largest port of foreign trade in the region.

On June 22, the world¡¯s first smart very large crude carrier (VLCC) with a capacity of 308,000 metric tons was delivered to its owner in Dalian and left the port for Singapore on its maiden voyage.

Niu Shuhong, assistant to chief engineer of DSIC, said it is the sixth-generation VLCC independently developed by Dalian Shipbuilding Industry Co Ltd, and the 97th VLCC successfully delivered by the corporation.

DSIC currently has orders for 109 very large crude carriers, accounting for more than 15 percent of the world VLCC fleet.

Relying on industrial advantages and scientific and technological innovation, Dalian promotes the transformation of traditional manufacturing to intelligent manufacturing and encourages local enterprises to expand international cooperation, said Jiang Sijin, an official with the Dalian Municipal Science and Technology Bureau.

The establishment of the Dalian area of the China (Liaoning) Pilot Free Trade Zone also promotes the city¡¯s engagement in the BRI.

With innovations in administrative service modes and mechanisms, the area put forth China¡¯s first regulatory system on bonded blend ore.

More than 15 million tons of offshore transshipments have gone to Japan and South Korea.

Zhang Hongguang, deputy director of the administrative commission of the area, said the bonded blend ore mode was listed among the experimental methods in the reform of free trade experimental areas which can be replicated in the whole country.
(June28,2019)  from english.gov.cn

point.gif (302 bytes) China sees bustling container business as ports get automated
Containers pile up below automated cranes in the container terminal of the Port of Qingdao, East China¡¯s Shandong province, where self-driving container haulers have replaced old-school trucks.

The smart container lifting system at the fully automated terminal enables rail mounted gantry cranes to lift containers without hoisting trucks underneath.

¡°Integrated with AI, 5G and image recognition technologies, the system has greatly boosted the lifting efficiency. Now, the average crane capacity of the port is 36.1 containers per hour, 50 percent higher than the world average level,¡± said Li Fengli, chairman of Qingdao Port (Group) Co Ltd.

In China, technologies such as big data, AI and 5G are making the likes of the Port of Qingdao increasingly automated, thus boosting the container business of the country.

Blockchain technology can also help. ¡°Based on blockchain, it becomes possible to obtain real-time information of the entire shipping process, thus improving the shipping efficiency,¡± Yin Lin, deputy director of the China Transport Telecommunication and Information Center under the Ministry of Transport, told China¡¯s Smart Port Conference 2019, which concluded in Qingdao on June 21.

¡°China¡¯s ports are becoming deeper, larger and more specialized. They are also getting automated quickly,¡± said Chen Yingming, executive vice-president of the China Port Association.

Five port clusters have taken shape in the Bohai Bay area, the Yangtze River Delta, the Pearl River Delta and the southeast and southwest coastal regions.

In 2018, the container throughput of China¡¯s major ports reached about 250 million standard containers, or twenty-foot equivalent units (TEUs), up 5.3 percent from 2017, according to the Ministry of Transport.

Besides, seven out of the world¡¯s 10 largest ports in terms of annual cargo and container throughput last year were in China.

¡°With the top ports, such as Shanghai and Qingdao, getting more automated, the automation of China¡¯s ports is gaining momentum,¡± said Yin.

Port automation is extending beyond the eastern seaports to the inland ports. The Port of Tangshan in North China¡¯s Hebei province plans to promote automation by adopting technologies such as mathematical modeling and big data.

Automation can also improve safety. Facilities including a weather monitoring system and automatic fire extinguishing system have provided greater safety assurance for container terminals, according to Port of Qingdao.

¡°Automation will bring profound changes to the operation and management of ports and create an efficient, safe, smart, open and inclusive port ecosystem in the future,¡± said Chen.
(June24,2019)  from english.gov.cn

point.gif (302 bytes)BRI transport projects to benefit global economy, says World Bank

Transport infrastructure projects under the Belt and Road Initiative have the potential to ¡°substantially¡± boost trade and reduce poverty in participating economies, as well as to generate a positive impact for the wider global economy, said a report released by the World Bank Group on June 19.

To achieve the full potential of the BRI, the report called for joint efforts from China and other participating economies to adopt deeper policy reforms, and adhere to high quality standards of transparency, environmental, social and debt sustainability.

¡°If fully implemented, BRI transport infrastructure can reduce travel times for economies along transport corridors by up to 12 percent, reducing trade costs,¡± the report said, after assessing the network of proposed transportation projects in about 70 countries along land and maritime BRI corridors that connect Asia, Europe, and Africa.

The full implementation of proposed projects is estimated to increase trade by between 2.8 and 9.7 percent for economies along the corridors. For low-income corridor economies, foreign direct investment could rise by as much as 7.6 percent, said the report.

Non-BRI economies will also benefit from access to improved rail links and ports in the participating economies, raising trade worldwide by between 1.7 and 6.2 percent.

Increased trade is expected to raise global real income by 0.7 to 2.9 percent, not including the cost of infrastructure investment, according to the report.

Moreover, around 32 million people could be lifted out of moderate poverty as a result of the initiative, with another 7.6 million to be lifted from extreme poverty, mostly in corridor economies, the report said.

The report£­which aims to help policymakers in developing economies weigh the potential prospects of participating in BRI projects£­also pointed out that the initiative entails risks common to large infrastructure projects.

The study finds that among the 43 low and middle-income participating economies for which detailed data are available, 12, with already elevated debt levels, could suffer a deterioration in their medium-term outlook for debt sustainability.

¡°This highlights the risks associated with BRI, but risks can be mitigated with appropriate policies,¡± Michele Ruta, an economist with the World Bank who led the study, said in a written interview with China Daily.

¡°Assuming sound public investment management, favorable financing terms, and continued growth dividends, the BRI¡¯s impact on debt sustainability could be positive over the long term,¡± Michele Ruta, an economist with the World Bank who led the study, said in a written interview with China Daily.

There is thus a need to enhance the transparency of the terms and conditions of BRI projects and improve recipient economies¡¯ ability to assess these conditions, Ruta said, adding that the improved fiscal frameworks and regulatory environments of recipient economies will also help.

The report prioritized transparency as one of the three core principles that BRI participating economies should comply with to maximize benefits and mitigate risks brought by the initiative.

Specifically, it called for more public information on project planning, fiscal costs and budgeting, and procurement to encourage community involvement and build public trust in investment decisions.

The other two core principles are to deepen country-specific reforms and multilateral cooperation.

From 2013 to 2018, direct investment by Chinese enterprises in economies involved in the BRI had exceeded $90 billion, with an average annual growth rate of 5.2 percent, according to the Ministry of Commerce.

Li Qiang, regional co-managing partner of Asia at DLA Piper Global Law Firm, said Chinese investment in economies involved in the BRI is helping to fulfill the huge potential of bringing mutual benefits, citing the importance for Chinese companies to sharpen their skillset of communicating with local communities.
(June19,2019)  from english.gov.cn

point.gif (302 bytes)BRI to boost prospects for global growth

The Belt and Road Initiative could play a key role in shoring up the precarious global economic recovery clouded by trade tensions, as it could not only bolster international trade and investment but help improve global governance, experts said on June 11.

¡°The BRI can bring common benefits to different participants and stakeholders, and therefore can act as an important mechanism offsetting global downside pressure,¡± said Wei Jianguo, a former vice-minister of commerce.

Wei¡¯s remarks came after finance ministers and central bank governors from the group of 20 major economies gathered in Japan over the weekend and stressed the downside risks brought by Sino-US trade tensions.

¡°Global growth appears to be stabilizing, and is generally projected to pick up moderately later this year and into 2020,¡± the G20 officials said in a joint communique, which was published on the website of Japan¡¯s Ministry of Finance.

¡°However, growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified,¡± the communiqu¨¦ said, adding that international trade and investment are still important engines of growth.

¡°The trade and geopolitical tensions mentioned in the communiqu¨¦ refer to various factors, but mainly trade tensions between the world¡¯s two biggest economies,¡± Wei said.

The biggest reason behind Sino-US trade tensions is the lack of mutual trust, Wei said, citing the importance of strengthening global governance via international cooperation, which is expected to enhance mutual trust.

¡°The BRI has helped to strengthen global governance and could to play a bigger role in the future, considering its continuous efforts to tighten the bond between peoples and encouraging cultural exchanges,¡± Wei said.

Meanwhile, the initiative can help shore up global growth by boosting international trade and investment, said Liu Chunsheng, an associate professor of international trade at the Beijing-based Central University of Finance and Economics.

¡°As trade tensions sour, economies caught up in these are looking for new partners. This gives the emerging market economies involved in the BRI a great potential in stabilizing international trade and investment, considering their large population and market vacuums,¡± Liu said.

During the January-May period, the value of China¡¯s trade in goods with economies taking part in the BRI reached 3.49 trillion yuan ($504.7 billion), up 9 percent year-on-year, faster than the 4.1 percent of China¡¯s total foreign trade in goods, according to customs data released on June 10.

¡°The initiative is helping to unleash that potential, as it has established a platform of information sharing, enabling both participants and non-participants in the initiative to identify, discuss and evaluate investment opportunities in the economies taking part in the BRI,¡± Liu said.

Also, Chinese investments in infrastructure across the participating economies have helped to elevate their economic efficiency, which will bring more international investment, Liu said.

The G20 officials also endorsed the G20 Principles for Quality Infrastructure Investment as a common aspiration, aiming to maximize the impact of infrastructure on sustainable growth while preserving debt sustainability and integrating environmental and social considerations, according to the communique.

¡°Infrastructure investment financing is indispensable for the development of emerging markets, while both the funds¡¯ recipients and providers should pay close attention to ensuring the induced economic growth could cover the debts,¡± Liu commented.

It would be a ¡°prejudice¡± against China to say the principles are especially targeted at Chinese investments in economies involved in the BRI, Liu said. ¡°The recipient countries will need to strike that balance wherever they get the investments, and China does not attach any additional conditions, particularly political ones, to the investments.¡±

Chinese companies can pursue the aspired quality infrastructure investment by better understanding and communicating with local markets, experts said.

Alan Wang, partner at Freshfields Bruckhaus Deringer LLP, a multinational law firm headquartered in London, said both Chinese companies as well as host countries partners are in the process of getting to know each other better to achieve mutual benefit.

As Chinese companies continue to mature with better understanding of local business environments and more efficient commercial viability assessments, Wang expects to see more cooperation and smoother project implementation under the BRI.
(June12,2019)  from english.gov.cn

point.gif (302 bytes)Xi confident in stable, healthy, sustainable development of Chinese economy

China¡¯s economy will have enough factors of support to maintain stable, healthy and sustainable development, President Xi Jinping told Russian media on June 4.

Xi made the remarks during a joint interview with TASS Russian News Agency and Rossiyskaya Gazeta newspaper on the eve of his state visit to Russia.

Responding to a question on China¡¯s economic outlook, Xi said his country has made remarkable achievements in economic development in the past 70 years since the founding of New China, especially in the past 40 years since the implementation of the reform and opening-up policy.

China is now the world¡¯s second largest economy, the largest manufacturer, the largest trader in goods, and holder of the largest foreign exchange reserves, he said.

Against the backdrop of a slowdown in the world economy and trade, Xi said, the Chinese economy got off to a good start in 2019 as key indicators were kept in a reasonable range.

In the first quarter, China¡¯s GDP grew by 6.4 percent, sustaining its momentum of steady growth in recent years and representing the 14th consecutive quarter of staying in the 6.4 percent to 6.8 percent range, he said.

¡°Domestic consumption remained the main driver of growth,¡± he added.

Xi listed that employment continued to expand, with 4.59 million urban jobs added in the first four months of 2019, personal income grew faster than the economy, and prices were generally stable, with consumer prices posting a modest growth of 2 percent.

Total imports and exports were up by 4.3 percent year-on-year, and China¡¯s foreign exchange reserves stayed above $3 trillion, he said.

Apart from all this, Xi said, China is in the process of optimizing its economic structure, transforming the model of development and enhancing the quality and efficiency of economic performance, thus strengthening the momentum of steady and robust growth.

The trajectory of China¡¯s economy toward sound and stable growth remains unchanged and will not change, Xi said.

Looking into the future, a number of factors will support the steady, healthy and sustainable growth of China¡¯s economy, including abundant human resources, strong internal driving forces, growing development dynamism and mobilization capability, he said.

Therefore, China has all the necessary conditions, capability and confidence to deal with any risks and challenges, Xi said.
(June5,2019)  from english.gov.cn

point.gif (302 bytes)WB sees stable growth in China

China¡¯s economy is expected to grow by 6.2 percent this year and by 6.1 percent next year, despite rising global uncertainties, the World Bank said on May 31.

The world¡¯s second-largest economy has remained resilient, although new trade tariffs have taken effect and global growth slowed, the multilateral lending organization said.

¡°China¡¯s economy will need to rely increasingly on domestic demand to sustain rapid growth,¡± it said in the May edition of the China Economic Update.

China¡¯s growth in the first quarter was stronger than expected, and the growth momentum increased in March. Another positive factor to support the projection at 6.2 percent for this year is the government¡¯s strong fiscal stimulus package, according to John Litwack, the World Bank¡¯s lead economist for China.

¡°Next year, the escalation of trade tensions would not only affect China, but also the rest of the world. Partly because the prospects for world economic growth look lower than before,¡± Litwack said in an interview with China Daily.

Although the direct impact on trade will be measurable and manageable, the impact on investor sentiment is difficult to gauge, and will depend on the degree to which the trade tensions are expected to be temporary as opposed to a longer duration, the economist said.

The renewed trade tensions have increased fluctuations in the foreign exchange market. Some investors speculated that the Chinese currency is under pressure, and the yuan¡¯s exchange rate against the US dollar may slip to around 7£­an important psychological threshold for stabilizing market sentiment.

¡°The exchange rate policy in China is more transparent than it used to be,¡± said Litwack. ¡°The main trends in the yuan exchange is mainly determined by economic fundamentals, but it can also be influenced by short-term speculative factors. The Chinese central bank has done well in smoothing volatility from speculative factors while allowing the market forces to determine the currency value.¡±
(June1,2019)  from english.gov.cn

point.gif (302 bytes) China negotiates to join Hague system protecting industrial design patents

Chinese intellectual property professionals applauded the country¡¯s ongoing negotiation to join the Hague Agreement regarding industrial design, which is seen as a crucial step to show China¡¯s commitment to intellectual property protection.

¡°Joining the international agreement means our protection of patents should be further intensified or, more precisely, it means the length of the time that we protect industrial design patents must be extended,¡± Ma Yide, an IP professor from Zhongnan University of Economics and Law, said on May 26.

¡°The extension will be beneficial for patent owners and also help our country¡¯s patent protection align with international norms.¡±

His remarks came as Shen Changyu, director of the National Intellectual Property Administration, said at the opening of the 15th China (Wuxi) International Design Expo on May 26 that China is negotiating with the World Intellectual Property Organization to join the agreement.

Shen said that by joining the system Chinese companies will have better protections for their own industrial designs, and Made in China products can better integrate into the global market.

The Hague Agreement for the international registration of industrial designs, a mechanism aimed at intellectual property protection, currently has 70 contracting parties worldwide. An industrial design will be protected by all contracting parties through a single application.

Gao Xiaoli, a Beijing lawyer specializing in patent-related cases, said it would be good news for Chinese individuals and enterprises with industrial design patents if China were to join the agreement.

It requires each contracting party to protect industrial design patents for at least 15 years£­¡±which is longer than the 10 years of protection in our country,¡± she said. ¡°The longer a patent is protected, the more benefits the patent owners will have.¡±

China has now begun the steps required to join, including amending its laws. For example, a draft amendment of the Patent Law extends industrial design patent protection to 15 years from 10 years.

The draft was submitted to the Standing Committee of the National People¡¯s Congress, the country¡¯s top legislature, for its first review in December. In general, a draft needs to be reviewed three times before becoming law.

¡°China has also begun improving the quality of patents in light of the rapid growth of applications in recent years. It aims to better protect IP rights by making strict demands on itself,¡± Gao said.
(May 27,2019) from english.gov.cn
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point.gif (302 bytes) China intl cultural fair concludes with higher level of internationalization

The 15th China (Shenzhen) International Cultural Industries Fair concluded on May 20 in the southern Chinese city of Shenzhen, showing a higher level of internationalization, organizers say.

The fair attracted 22,167 overseas business people from 103 countries and regions, including exhibitors and buyers, according to the organizing committee.

Consisting of nine pavilions, the main display venue covered 105,000 square meters, 23.5 percent of which were for overseas exhibitors.

The five-day event showcased China¡¯s cultural development, progress in advancing Guangdong-Hong Kong-Macao cultural integration and innovation, integrated media development and innovations and creative designs.

The event attracted more than seven million visitors as of May 19, with the number of visitors to the main venue shooting up over 10 percent from last year.
(May 21,2019)  from english.gov.cn

point.gif (302 bytes) Faster, cheaper internet services to boost demand, benefit people

China will extend 1,000-Megabyte broadband connection to more than 300 cities and cut the average service rates by 15 percent for small and midsized enterprises this year. The measures are designed to achieve multiplying effects of expanding domestic demand, boosting employment and improving people¡¯s lives.

The decision was made at the State Council¡¯s executive meeting chaired by Premier Li Keqiang on May 14.

The Chinese government puts high importance on work relating to broadband connections at reasonable rates. General Secretary Xi Jinping issued instructions on several occasions, stressing the need for enhanced information infrastructure building to provide people with accessible, affordable and user-friendly information services. Premier Li Keqiang emphasized that solid efforts must be made for faster and more affordable internet services and sharpen the country¡¯s international competitiveness in this regard.

Figures from the Ministry of Industry and Information Technology show that 1,000M broadband has been piloted in 100-plus Chinese cities. The country now has more than 3.76 million 4G base stations and 1.17 billion-strong 4G network users.

It was agreed at the meeting that as required by the Central Economic Work Conference and the Government Work Report, efforts must be intensified to make internet services faster at a lower rate. This will not only benefit and facilitate companies and the people, but will also help boost effective investment and harness the digital economy¡¯s role in driving China¡¯s economic and social development.

¡°We need to upgrade our internet services. This is a key measure to boost consumption and meet the needs of our massive cellphone users,¡± Premier Li said.

Participants at the meeting agreed that upgrading and expanding the capacity of internet infrastructure should be an important area in boosting effective investment. By the end of this year, fiber-to-the-home (FTTH) ports relative to all broadband ports will be raised to more than 90 percent, 1,000M broadband will be extended to more than 300 cities, and base stations for mobile internet will be upgraded with expanded capacity. The goal is to raise the speed of both fixed-line and mobile internet services to 1,000M.

Broadband networks will cover 97 percent of primary and middle schools nationwide this year, and dedicated internet services will be made available over time in hospitals and medical consortiums above the county level.

¡°The industrial internet, education and medical care are our priorities in upgrading internet services in order to boost industrial development, improve access to quality medical resources and promote fairness in education,¡± Premier Li said.

Basic telecommunication service providers will be encouraged to further lower prices. The goal this year is to cut the average broadband service rate for small and midsized enterprises by 15 percent, the average rate for mobile internet services by more than 20 percent, and roaming charges for internet traffic between the mainland and Hong Kong and Macao by 30 percent. A ¡°floor-price¡± rate will be set for low-income and elderly populations.

Basic telecommunication service providers will be urged to ensure that cellphone users nationwide can switch service carriers without changing phone numbers by the end of November, and any extra term required for this service will be looked into. These companies will also be urged to straighten out their service packages to trim the packages available by more than 15 percent within this year, bringing more benefits to consumers.

¡°There is huge consumer demand for internet services in our country. We must encourage fair competition, and ensure that our measures to lower internet service charges are fully delivered as they are an important part of our efforts in improving people¡¯s lives,¡± Premier Li said.(May 17,2019)  from english.gov.cn
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point.gif (302 bytes) 2nd Digital China Summit: More technologies to upgrade traditional sectors

With China¡¯s digital economy accounting for over one third of its GDP, many hope new policies can better protect data and properly regulate its usage. That¡¯s one reason why thousands have descended on the second Digital China Summit in East China¡¯s Fujian province.

More than 1,500 officials, company representatives and scholars are attending this second Digital China Summit in Fuzhou.

Industry leader Digital China Group is one of them. Its Chairman Guo Wei says the key is properly applying 5G and AI where needed.

¡°One of our major challenges is how to use the latest technologies to upgrade the infrastructure of traditional sectors. Many digital companies don¡¯t understand the real needs of traditional industries,¡± Guo said.

From e-governance to smart cities and factories, China¡¯s digital economy has produced a vast expanse of data. Many companies expect more policy support to share and make the best use of the data value.

Chen Tao, executive president of IFLYTEK Co Ltd said: ¡°Data among government departments is shared, but whether it is possible to open data sources to companies for public use, there is no clear policy.¡±

According to a recent white paper, China¡¯s domestic digital economy reached 31.3 trillion yuan in 2018. That¡¯s about $4.6 trillion, and roughly 34.8 percent of China¡¯s GDP. Through this summit, these companies hope that more collaboration will find new solutions for challenges ahead.  (May 11,2019)  from english.gov.cn
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point.gif (302 bytes) More pilot practices from FTZs to be replicated nationwide

The State Council issued a circular on April 30 that decided to replicate the fifth batch of pilot practices from free trade zones.

The circular covers a total of 18 practices, 17 of which are expected to be replicated nationwide and one within free trade zones.

In the investment management field, the circular decided to replicate five practices nationwide involving simplified notarization, tax files, online cross-region tax-related matters, optimized tax handling procedures, and application of company names.

As for trade facilitation, six items concerning facilitating import and export clearance of international vessels, export rebates of production-oriented export enterprises, transportation mode of China-EU freight trains, and other items will be promoted nationwide.

Six practices regarding public credit information management, inspection of imported grains quarantine, and supervision on bonded oil will also be replicated nationwide.

Pilot cooperative notary organizations will be replicated in the investment field of pilot free trade zones, according to the circular. (May 5,2019)  from english.gov.cn

point.gif (302 bytes) CPC Central Committee issues regulation on evaluation of officials

BEIJING ¡ª The Communist Party of China (CPC) Central Committee has released a regulation on the evaluation of Party and government officials, according to a CPC Central Committee circular.

Evaluation of officials is an important measure for adhering to and strengthening the overall leadership of the CPC and promoting the implementation of decisions and arrangements made by the CPC Central Committee, according to the circular.

It is also a major tool for encouraging officials to shoulder responsibilities and make achievements, and for advancing their career development, the circular said.

The regulation, with 11 sections, stresses that officials should be evaluated based on their morality, capability, work conduct, work performance and integrity.

It also defines awards and punishments based on evaluation results.

The regulation went into effect on April 7. April 26, 2019,     from english.gov.cn
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point.gif (302 bytes) New rules on inspecting, assessing government websites and new media outlets

Operations of nationwide government websites and new media outlets should be inspected semi-annually, and supervision of them be assessed annually, according to a circular released by the general office of the State Council on April 18.

According to the circular, a government website or new media outlet will be assessed as unqualified if any of the following problems are found: disclosure of state secrets, occurrence of safety accidents, or failure to update homepages, among others.

Their evaluation points will deducted if there are any defects in releasing news and policy analysis, offering government service, or responding to users¡¯ messages and inquiries, among others.

Meanwhile, a government website or new media portal will get bonus points if data can be updated in a timely manner, policies can be interpreted accurately, or high-quality government service can be provided, among others. April 22, 2019,     from english.gov.cn
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point.gif (302 bytes) Foreign investors benefit from opening-up of China¡¯s financial market

From April, China¡¯s yuan-denominated bonds start to become part of the Bloomberg Barclays Global Aggregate Index (GAI), a global benchmark, giving investors greater access to the world¡¯s third-largest bond market.

A total of 356 yuan-denominated government and policy bank bonds will be added into the Bloomberg Barclays GAI over the next 20 months, making Chinese bonds the fourth largest currency component. April 19, 2019,     from english.gov.cn
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point.gif (302 bytes) State Council urges government information publicity

Government at all levels should strengthen the publicity of government information, with the general office of the State Council and local governments at or above county level leading the work, according to a State Council circular released on April 15.

Government at all levels should establish a system for publicizing government information, and designate a department to take care of its daily work, the circular said.

All information, except for any involving State secrets, business secrets, individual privacy, and internal affairs of the government, should be open to the public by active disclosure or upon application, the circular added.  April 17, 2019,     from english.gov.cn
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point.gif (302 bytes) Division of tasks laid out for implementing govt work report

The State Council released a document on April 9 detailing the division of main work tasks among ministries and departments for implementing the 2019 Government Work Report.

A total of 98 tasks in 13 aspects are appointed in line with their functions.

The implementing of major social economic goals is the responsibility of the National Development and Reform Commission, Ministry of Finance, Ministry of Human Resources and Social Security, Ministry of Ecology and Environment, Ministry of Commerce, the central bank, General Administration of Customs, China Banking and Insurance Regulatory Commission, State Administration of Foreign Exchange and others.

According to the Government Work Report, the main targets for economic and social development in 2019 are set as follows: GDP growth of 6¨C6.5 percent; over 11 million new urban jobs, a surveyed urban unemployment rate of around 5.5 percent, and a registered urban unemployment rate within 4.5 percent; CPI increase of around 3 percent; a basic equilibrium in the balance of payments, and stable, better-structured imports and exports; a macro leverage ratio that is basically stable, and effective prevention and control of financial and fiscal risks; a reduction of over 10 million in the rural poor population; personal income growth that is basically in step with economic growth; a further improvement in the environment; a drop of about 3 percent in energy consumption per unit of GDP; continued reductions in the discharge of major pollutants.

The Ministry of Finance and State Taxation Administration will lead the job of implementing tax cuts. The policy of reducing employers¡¯ social insurance premium payment burden will be led by the Ministry of Human Resources and Social Security and Finance Ministry.

The General Office of the State Council will lead the implementation of the further reform of streamlining administration, delegating power and improving regulations and services.

According to the Government Work Report, the government will promote high-quality manufacturing, strengthen the foundations of industry and the capacity for technological innovation, boost the integrated development of advanced manufacturing and modernized services, and work faster to make China strong in manufacturing. That work will be taken by the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Science and Technology.

The National Development and Reform Commission, the Ministry of Finance, and the State Taxation Administration will be responsible to increase urban and rural personal incomes, boost capacity for consumption, and fully implement the revised Individual Income Tax Law to see that approximately 80 million taxpayers to whom reductions apply get the most out of these policies.

The National Development and Reform Commission also will lead the work of allocating 577.6 billion yuan ($86 billion) in the central government budget for related investment in 2019, an increase of 40 billion yuan from last year.

The State Council Leading Group Office of Poverty Alleviation and Development will lead the work of intensifying poverty alleviation in areas of extreme poverty, strengthen infrastructure development in such areas, and ensure social safeguards for the most vulnerable groups.

The National Development and Reform Commission and other relative departments will be responsible for promoting coordinated development across regions and improving the quality of new urbanization.

The Ministry of Ecology and Environment and other departments are responsible for preventing and controlling pollution. This year, sulfur dioxide and nitrogen oxide emissions should be cut by 3 percent, and there should be a continuous decline in PM 2.5 concentrations in key areas, according to the Government Work Report.

The State-owned Assets Supervision and Administration Commission, National Development and Reform Commission, and some other departments are responsible of accelerating state capital and SOE reforms, strengthening and improving the regulation of state assets, and continuing to conduct trial reforms to establish state capital investment and management companies.

According to the Government Work Report, China will follow the principle of competitive neutrality, treat enterprises under all forms of ownership equally when it comes to access to factors of production, market access and licenses, business operations, government procurement, public biddings, and so on. The National Development and Reform Commission, the Ministry of Industry and Information Technology and the Finance Ministry will be responsible to deliver that work.

The National Development and Reform Commission and the Ministry of Commerce will be responsible for further easing controls over market access, shortening the negative list for foreign investment, and permitting wholly foreign funded enterprises to operate in more sectors.

In 2019, government budgetary spending on education will remain above 4 percent of GDP, and central government spending on education will exceed 1 trillion yuan, which will be delivered by the Finance Ministry and the Ministry of Education.

The document also directs specific departments to implement policies on ethnic affairs, religion, overseas Chinese nationals, national defense, Hong Kong, Macao and Taiwan affairs, and diplomacy. April 11, 2019,     from english.gov.cn
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point.gif (302 bytes) State Council amends 6 regulations to fit online govt services

The State Council released an order on April 10 amending six administrative regulations that are not compatible with the development of online government services.

The amendments are meant to advance the reforms to streamline administration, delegate power, improve regulation and upgrade services, and to promote online government services, the order said.

After reviewing some regulations that go against the trend that all government services can be accessed through one website, the State Council decided to amend some articles of six regulations, according to the order.

The amended regulations are on urban road oversight, levying of social insurance premium, housing fund oversight, the operation of internet bars, immovable property registration and the development and operation of urban real estate. April 11, 2019,  from english.gov.cn
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point.gif (302 bytes) China to introduce policies to lessen burden on businesses and individuals

China will take measures to reduce government-levied charges and operating service charges in order to further lessen the burden on businesses and individuals. The personal postal articles tax rates will also be lowered to expand imports and boost consumption, the State Council executive meeting chaired by Premier Li Keqiang decided on April 3.

General Secretary Xi Jinping stressed at the Central Economic Work Conference that it is crucial to effectively reduce the burden on companies, make electric power transactions more market-based, and cut electricity and logistics costs. Premier Li Keqiang pledged in the Government Work Report this year to take reform measures to lower business-related charges. Electricity costs in manufacturing will be reduced, and the average utility rates for general industrial and commercial businesses will be cut by another 10 percent. A number of railway and port charges will be abolished or reduced. Average broadband service rates for small and medium-sized enterprises will be cut by another 15 percent, and the average rates for mobile internet services, by more than 20 percent.

It was decided at the meeting that starting from July 1, charges on real estate registration will be cut or canceled. The coverage of patent applications and annual fee reductions will be expanded.

Charges on exit and entry travel documents such as private passports, registration of certain trademarks, and radio frequency uses in electricity and the Internet of Vehicles will be further reduced. Significant reductions in these charges are part of the plan. For example, ownership registration fees for real estate such as garage and parking spots will be reduced from 550 yuan to 80 yuan each. And the registration fee for continued use of trademarks will go down from 1,000 yuan to 500 yuan.

Payments by airline companies to the civil aviation development fund and national major water conservancy construction fund will be halved. Charges for national cultural programs faced by centrally administrated enterprises and institutions will be cut by half, effective until the end of 2024.

It was also decided at the meeting that mobile internet service rates and broadband service rates for small and medium-sized enterprises will be reduced by about 180 billion yuan in 2019; average electricity rates for general industrial and commercial businesses will be trimmed; prices for rail freight transport will be lowered; port charges will be cut or merged, and the charge for citizens¡¯ ID information certification will be revoked.

The measures identified at the meeting are the most recent moves for fee reduction following the lowering of the social insurance contribution rate. Full delivery of these measures is expected to lighten the fee burden on companies and individuals by more than 300 billion yuan in 2019.

¡°Tax and fee cuts are a key measure to tackle the downward economic pressure this year. They are a major policy initiative. Cutting fees could serve multiple purposes. All government departments must do their best to effectively ease the burden on businesses and deliver real benefits to consumers,¡± Premier Li said. ¡°This will also boost our industrial development.¡±

The meeting also worked out measures for cutting personal postal articles tax rates. Starting from April 9, the tax rate on food and medicine will be cut from 15 percent to 13 percent, and the tax rate on textiles and electrical appliances will be trimmed from 25 percent to 20 percent. April 4, 2019,  from english.gov.cn
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point.gif (302 bytes) Premier Li stresses heavy price for food safety violations

¡°Those responsible for any serious food safety incidents must be punished to bankruptcy!¡± Premier Li Keqiang said at the State Council executive meeting on March 26.

The meeting adopted the draft regulation on the implementation of the Food Safety Law of the People¡¯s Republic of China.

The draft defines the main responsibility of production operators, supervision duties and accountability measures of the government.

It also outlines decisions to severely punish enterprises and their legal representatives who violate laws and regulations, and to improve food safety standards and risk monitoring.

¡°Although some progress has been made in food safety work in recent years, it is still far from the expectations of the people,¡± the Premier said, adding that the bottom line must be firmly held to ensure food safety and safeguard people¡¯s health.

Premier Li reiterated that penalties should be further increased for violators and their legal representatives, and study on a punishment mechanism to expel them from the market for life must be accelerated.

¡°It is necessary to clarify the departments responsible for executing large-scale fines according to legal procedures, ensuring reasonable punishment rules, and powerful law enforcement,¡± he said.

The regulation must be put into real practice to ensure that the punishment serves as a real deterrent, the Premier said. April 2, 2019,  from english.gov.cn
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point.gif (302 bytes) More preferential policies for foreign investment come into play
Premier Li Keqiang delivered a speech at the Boao Forum for Asia annual conference on March 28, introducing a round of preferential policies conducive to the expansion of financial market opening.

The proposed Foreign Investment Law, the Premier said, will play a significant role in establishing a law-based, international, and convenient business environment.

The Chinese government has set about enacting related regulations to underpin the Foreign Investment Law, with concrete rules. And the overall preparation campaign will be rounded out by the end of 2019, in a bid to implement the law on Jan 1, 2020.

China will stick to reform, opening-up, and a neutral stance on competition. In the meantime, any rules or regulations that go against the Foreign Investment Law should be amended or annulled.

China will continue with the expansion of its financial market opening for foreign investment, allowing the management mode of pre-establishment national treatment (PENT) with a negative list to come into full play.

The negative lists for foreign investment will greet a new amendment by the end of June, along with a guiding list of industries calling for active participation from foreign investors. Modern service sectors featuring medical institutions and education, transportation sectors, infrastructure and more will open to foreign investment.

Enterprises of all types of ownerships will receive equal treatment and compete on a level playing field. And costs for customs services will be substantially reduced, with customs clearance taking less time, Premier Li said.

China will protect the legal rights of enterprises across the board, whatever their ownership structure. And China will unswervingly safeguard intellectual property rights, with an amendment on the Patent Law under deliberation.

Harsher compensations for property rights violations will be taken into account. And forcible technology transferring will be banned, the Premier said.

Further improvements will be made in the complaint mechanism for foreign enterprises. Meanwhile, a widely accessible channel for coordination between the government and foreign enterprises will become an efficient platform to safeguard their legal rights.

China¡¯s finance industry will continue to open up, with an all-around market access expanding to the sectors of banking, bond, and insurance. And the business scope of foreign banks will also see considerable expansion.

Foreign investors will be encouraged to establish investment-oriented startups with more favorable policies offering support.

The bond market, the Premier said, will continue to open up, with improved policies conducive to overseas investment and transactions of Chinese bonds.

Playing a significant role in the process of China¡¯s opening-up, enterprises established by entrepreneurs from Hong Kong, Macao, and Taiwan will continue to enjoy preferential status.

More opportunities will come to the fore for these enterprises, highlighting wider market access to industries including finance, professional services, and high-end manufacturing, among others.

Additionally, measures conducive to the exchange of talent and production factors between the mainland and Hong Kong, Macao, and Taiwan will continue to come into play, in a bid to form a positive environment for investment.  March 29,2019,  from english.gov.cn
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point.gif (302 bytes) China to further improve business climate focusing on weak links

China will work harder this year for a more enabling business environment by tackling areas of weakness to better energize the market and stimulate social creativity, the State Council¡¯s executive meeting chaired by Premier Li Keqiang decided on March 26.

The Chinese government puts great emphasis on improving the business climate. General Secretary Xi Jinping stressed the need to improve the investment and market environment by advancing opening-up and cutting costs for market operations in an effort to create a fair, transparent and predictable business environment. Premier Li Keqiang said in the Government Work Report this year that the government will work to energize market entities, and maintain and increase their level of activity by improving the business environment and cutting institutional transaction costs.

The meeting on March 26 called for redoubled efforts to tackle the pressing issues and measure up to advanced standards in fighting the tough battle of improving the business environment.

The government will further streamline administration by cutting procedural requirements, including shortening the negative list on market entry, separating business licenses and operating permits, simplifying the review process for construction projects, and reducing the types of industrial production permits. The goal is to cut the time required for starting a business to within five working days, and for companies to access electricity service to within 45 working days before the end of this year.

¡°Governments at all levels must take improving the business climate as a key measure for stimulating market dynamism. Just as the tax and fee cuts are designed to lessen corporate burdens, improving the business climate is meant to serve the same purpose. In face of fierce international competition, we must tackle all the areas of weakness in our business environment, such as access to credit service and bankruptcy filing,¡± Premier Li said.

It was also decided at the meeting to implement the principle of competitive neutrality, and overhaul the policies and measures that hamper the growth of private businesses or fail to treat domestic and foreign investors as equals. The fair competition review system will be implemented in all governments, including and above the county-level, before the end of this year. Under this system, all business-related policies will go through fair competition review, and mechanisms for filing complaints and third-party evaluation will be established to forestall or redress any action that precludes or constrains competition. In the meantime, it is imperative to enhance impartial regulation and tackle inadequacies in government oversight or corporate enforcement of their primary responsibilities. In areas concerning public safety and health, a system of hefty fines and compensations will be set up to hold companies accountable for the grave consequences arising from their breach of law.

The meeting also urged comprehensively enhancing the protection of intellectual property and promoting credit rating-based regulation to foster a dynamic, fair and orderly market.

¡°We must move quickly to sort through existing decrees to see that our policies are open, transparent and pro-free trade,¡± Premier Li said.  March 27, 2019, from english.gov.cn
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point.gif (302 bytes) Premier pledges favorable policies concerning people¡¯s livelihoods
Premier Li Keqiang pledged to continuously improve people¡¯s well-being in the process of developing the Chinese economy and to put focus on the key areas and major difficulties faced by the people during a meeting with the press on March 15.

Provide public rental housing units for free to certain private operators

According to Premier Li, to address issues related to aged and child care, the government needs to provide policy support. For example, the government may provide public rental housing units for free to private operators as venues of facilities for providing assisted meals, assisted mobility, day care, rehabilitation, and even open senior colleges.

The government also may provide tax exemption or tax-free treatment for these service providers in terms of their expenses for water, electricity and natural gas, he added.

The main job of community-level officials and competent departments is to ensure fair market access and enhance oversight so that these services will be both safe and reliable, and those who break the rules will be driven out of the market, the Premier said.

¡°In this way, we will be able to keep our senior citizens, our children and all families reassured,¡± he said.

Provide more policy support for those companies that hire more

The status of the jobs-first policy is elevated to a macro policy with the fiscal policy and monetary policy this year for the first time, Premier Li said, adding that the tax cuts under the fiscal policy, as well as cutting real interest rates under the monetary policy, are all designed to ensure employment.

Efforts will be made to apply a combination of measures, including promoting employment for key groups of people, like college graduates, demobilized military personnel and laid-off workers, the Premier said.

To make sure there will be no zero employment families, the government will provide more policy support for those companies that hire more, while expanding the platforms to encourage business startups and innovation as a way to generate more jobs, he added.

The Premier also stressed that rural migrant workers must be treated with kindness, vowing to ensure that they will not only find jobs but also get paid for their work.

Lower the payout threshold and raise the reimbursement rate

This year the government plans to do its utmost in taking two major steps, Premier Li said. First, it will make outpatient drugs for chronic diseases, like high blood pressure and diabetes, reimbursable, and set the reimbursement rate at 50 percent.

Second, when it comes to the serious illness insurance plan, which already covers nearly 1.4 billion people, the government will lower the payout threshold and raise the reimbursement rate so that this can truly produce amplifying effects to benefit as many people as possible.

¡°The government and private entities must work together in this respect to meet people¡¯s health needs,¡± he said, ¡°Without health, there would be no happy life for our people.¡±

Concerning the question as to whether there would be a three-day national holiday for the May 1 Labor Day this year, Premier Li said, ¡°We would ask relevant departments to study this expeditiously, taking full account of the views of the general public.¡±March 20,2019, from english.gov.cn


point.gif (302 bytes) State Council to reshuffle flood control and drought relief headquarters

The State Council decided to reshuffle the panel of the State Flood Control and Drought Relief Headquarters, according to a circular on March 19.

State Councilor Wang Yong will become the commander of the headquarters. Other members are from various ministries and bureaus such as the Ministry of Emergency Management, the Ministry of Water Resources, and the Meteorological Administration.

The office is located at the Ministry of Emergency Management, headed by Li Kungang, who is also director of the department of flood control and drought relief at the ministry.March 19,2019, from english.gov.cn
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point.gif (302 bytes) "Bayuquan Marathon" was selected again "Chinese athletics association gold medal competition"
On March 11, 2018 Chinese athletics association marathon annual press conference was held in Xiamen, Bayuquan Marathon was listed in , and was selected as the gold medal event of Chinese athletics association again. March 14,2019

point.gif (302 bytes) Govt urged to heed advice from enterprises, industrial associations in making rules

The State Council released a notice on March 13, urging provincial-level governments and State Council departments and units to fully draw on advice from enterprises and industrial associations when making administrative rules and regulations.

The government should evaluate the rules to be established based on their influence on enterprises and industries, and collect opinions from representative enterprises, industrial associations, chambers of commerce and lawyers¡¯ associations.

Authorities should use the internet and media to collect public opinions, and build advice soliciting platforms on their official web portals. Measures such as holding symposiums, conducting surveys and field visits are encouraged, according to the notice.

The acceptance of opinions should be made public through government portals and newspapers, or be passed on to related units.

A reasonable buffer period should be set as preparation for enterprises to adopt the rules.

The circular also stressed stepping up filing and review of newly released rules and review of normative documents in terms of legality.

In addition, the government should actively learn about the needs and difficulties of enterprises.

According to the circular, the government should improve the work mechanism regarding enterprises and industrial associations¡¯ participation in institution building, establish constant contact with enterprises, and take the initiative to resolve major issues.  March 14,2019, from english.gov.cn
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point.gif (302 bytes) Administrative approval items further canceled or delegated

The State Council has decided to cancel 25 administrative approval items and delegate six to lower-level authorities, according to a circular released on March 6.

For another five administrative approval items set according to related laws, these laws will be submitted to the Standing Committee of the National People¡¯s Congress for revision, the circular said.

Approvals of overall plans for developing petroleum and natural gas with foreign companies, and those of transmission network construction projects, as well as 23 other kinds of administrative permits, will be scrapped.

Six approval items will be delegated to authorities at lower levels. For example, the issuance of permits for passenger vessel business and shipping of dangerous bulk liquid cargo between the mainland and Hong Kong and Macao will be delegated from the Ministry of Transport to provincial transport departments.

Related departments in various regions should ensure the implementation of the measures, and publish specific supervision rules within 20 working days after the circular¡¯s release. March 13,2019, from english.gov.cn


point.gif (302 bytes) China to reduce immovable property registration time

The State Council issued a circular on March 10 to reduce the time required for immovable property registration.

According to the circular, the time required for general registration and mortgage registration of immovable property should be cut to no more than 10 and five working days, respectively, in all cities and counties across the country by the end of this year. And both should be reduced to no more than five working days before the end of 2020.

Information sharing and integration should be promoted among departments to increase information quality and usage efficiency. Related departments should provide information on immovable property registration in a timely manner and strengthen coordination with registration institutions to achieve connectivity and sharing before the end of 2019.

Efforts should be made to make full use of such technologies as the internet, big data, facial recognition and online payment to promote ¡°Internet Plus immovable property registration¡±, said the document. An online registration center with various platforms, like web and WeChat versions, should be established to make applications available at any time and any place.

Meanwhile, local government should accelerate the integration and quality improvement of stock data and complete data improvement and exchanges before the end of 2019, said the document.

Additionally, the circular also stressed the integrated process with optimized procedures and streamlined materials. A comprehensive window should be established at the administrative service hall or immovable property registration hall to deal with related items and collect all materials in one visit.

Unnecessary and similar procedures of property registration should be incorporated, and application materials should be streamlined. Materials that can be obtained through information sharing should not be submitted, and hard to obtain materials, such as certificates on death and relative relationships, should be replaced with a written document.

In places where information sharing and integrated process are not available, convenient services can be offered through centralized work, said the document. March 13,2019, from english.gov.cn
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point.gif (302 bytes)China unveils guideline to toughen supervision over food safety

China has unveiled a guideline to enhance the accountability system of local governments to strengthen supervision over food safety.

Food safety will be included in the performance assessment of the Party and government leading officials, according to the guideline released by the Central Committee of the Communist Party of China (CPC) and the State Council over the weekend.

The guideline aims to promote local government¡¯s food safety work and improve people¡¯s well-being.

Food safety, including the safety of agricultural products, will be included in the national economic and social development plan of local governments. It will also be put on local government¡¯s work priorities and subject to supervision of lawmakers and political advisers, according to the guideline.

The guideline specifies major requirements for local governments to toughen supervision over food safety, including improving the food safety supervision and accountability system, strengthening food safety supervision capability and efficiency, and formulating emergency plans for food safety incidents.

The guideline also outlines rewards and punishments for local authorities in managing food safety work. Feb.28,2019, from english.gov.cn

point.gif (302 bytes) Chinese govt¡¯s key words on boosting trade

Boosting foreign trade has always been on top of the government¡¯s agenda. The year 2018 witnessed some new measures from the State Council executive meetings to facilitate trade, which play a key role in connecting China with the world.

The measures, covering tariff cuts, customs clearance, rebates, and cross-border e-commerce, became buzzwords on the government¡¯s agenda, demonstrating China¡¯s decision to deepen reform and opening-up.

The video explains some of those measures. We hope it will help you get an idea about the government¡¯s work.  Feb.27,2019, from english.gov.cn

point.gif (302 bytes) Big data to reshape economic landscape

Core industries in China¡¯s big data sector could earn more than 720 billion yuan ($106.3 billion) this year, said a report on the sector¡¯s outlook from think tank CCID.

China¡¯s big data sector will witness 25 to 30 percent growth in 2019, facilitating the transformation and upgrading of regional economic structures, the report said.

Apart from East China where the sector is flourishing, Southwest China¡¯s Sichuan and Guizhou provinces and Chongqing municipality are expected to be front-runners for new growth, according to the report.

As part of the development of the digital economy, China is accelerating the integration of big data and the real economy, said Wei Kai, a researcher with the China Academy of Information and Communication Technology.

Wei said the development of big data in China is still unbalanced, such as unbalanced business types and uneven geographical distribution.

To maximize the use of big data, the country should make efforts to establish all-in-one big data platforms and effective mechanisms for data management, Wei added.

Officials in Guizhou province said they will boost the output value of big data, electronic information and other industries to over 100 billion yuan this year, as well as accelerate the development of intelligent terminal manufacturing and supporting facilities.

It will also focus on the development of electronic components and materials, and foster the development of integrated circuits and new display industries.

Since 2015, China International Big Data Industry Expo has been held for four times in Guiyang, capital city of Guizhou province. Last year, the expo attracted over 40,000 participants from nearly 30 countries.

As China¡¯s first big data pilot zone, the mountainous province of Guizhou has attracted heavyweight firms, including Apple, Qualcomm, Huawei, Tencent, Alibaba and Foxconn, to establish cloud computing and big data centers as well as regional headquarters.

In addition, Hunan has formulated six measures to boost the big data industry, such as cultivating enterprises engaged in big data industry, as well as promoting research and development and innovative applications of big data technologies and products.

The sales revenue of big data industry in Hunan is expected to surpass 100 billion yuan by 2021, with a compound annual growth rate of over 30 percent in the next three years, according to the local authority.

A booming digital economy is reshaping China¡¯s economic landscape as technology such as artificial intelligence, big data and cloud computing revives traditional industries and casts new light on high-quality development.

China¡¯s big data sector aims to increase its annual sales to 1 trillion yuan by 2020 from an estimated 280 billion yuan in 2015, said a plan released by the Ministry of Industry and Information Technology.  Feb.22,2019, from english.gov.cn

point.gif (302 bytes) China unveils development plan for Guangdong-Hong Kong-Macao Greater Bay Area

Chinese authorities unveiled the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area on Feb 18, aiming to develop the region into ¡°a role model of high-quality development.¡±

The plan was released by the Central Committee of the Communist Party of China and the State Council.

Promoting the development of the Greater Bay Area is a major decision made by the CPC Central Committee with Comrade Xi Jinping at the core, said an official in charge of the office of the leading group for developing the area.

¡°It is a national strategy General Secretary Xi Jinping has planned for, made decisions about and promoted in person,¡± the official said.

STRATEGIC ROLE

The bay area consists of the Hong Kong Special Administrative Region (HKSAR), the Macao Special Administrative Region (Macao SAR), as well as nine cities in Guangdong province ¡ª Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing.

Covering a total area of 56,000 square kilometers, the bay area had a combined population of about 70 million at the end of 2017 and its gross domestic product reached around 10 trillion yuan ($1.48 trillion) in 2017.

¡°As one of the most open and economically vibrant regions in China, the Greater Bay Area plays a significant strategic role in the overall development of the country,¡± says the plan.

The development of the area is hailed not only as a new attempt to break new ground in pursuing opening-up on all fronts in a new era, but also a further step in taking forward the practice of ¡°one country, two systems.¡±

The plan covers the period from now to 2022 in the immediate term and extends to 2035 in the long term.

The plan has 11 chapters: the background, the overall requirements, the spatial layout, developing an international innovation and technology hub, expediting infrastructural connectivity, building a globally competitive modern industrial system, taking forward ecological conservation, developing a quality living circle for living, working and traveling, strengthening cooperation and jointly participating in the Belt and Road Initiative, jointly developing Guangdong-Hong Kong-Macao cooperation platforms, and the implementation of the plan.

WORLD-CLASS CITY CLUSTER

The plan says the bay area will be turned into a vibrant world-class city cluster, a globally influential international innovation and technology hub, an important support pillar for the Belt and Road Initiative, a showcase for in-depth cooperation between the mainland and Hong Kong and Macao, and a quality living circle for living, working and traveling.

Efforts should be made to build on the four core cities of Hong Kong, Macao, Guangzhou and Shenzhen as core engines for regional development, continue leveraging their comparative advantages in striving for excellence and achievements, and strengthen the radiating effect in leading the development of nearby regions.

Setting development objectives, the plan says by 2022 the framework should essentially be formed for an international first-class bay area and world-class city cluster that is vibrant and highly innovative with an optimized industrial structure, a smooth flow of various factors and a pleasant ecological environment.

By 2035, the bay area should have an economic system and a mode of development mainly supported by innovation, with its economic and technological strengths vastly increased and its international competitiveness and influence further strengthened, it adds.

By then, the markets within the Greater Bay Area should basically be highly connected, with a very effective and efficient flow of various resources and factors of production; the coordination of regional development should remarkably improve, with the influence on neighboring regions further strengthened.

The people should become wealthier; the level of social civility should reach new heights, with cultural soft power demonstrably strengthened, Chinese cultural influence broadened and deepened, and exchange and integration between different cultures further enhanced, the plan says.

Meanwhile, the levels of conservation and efficient use of resources should be significantly improved, the ecological environment should be effectively protected, and an international first-class bay area for living, working and traveling should be fully developed.

PLAN HAILED

The People¡¯s Daily hailed the plan, saying the Greater Bay Area facilitates the enrichment of the implementation of the ¡°one country, two systems,¡± creates more opportunities for the socio-economic development of the two special administrative regions and for Hong Kong and Macao compatriots wishing to develop careers on the mainland.

We must ¡°free our minds, make active explorations and bold trials, and strive to play a pioneering role,¡± the article says.

Both HKSAR and Macao SAR governments issued statements welcoming the promulgation of the plan.

An HKSAR government spokesperson said the Greater Bay Area will help Hong Kong find new drivers for economic growth and advance the diversified development of local economy and industries, as well as expand the living and development space of Hong Kong residents.

¡°Bay areas play a big role in global economic powerhouses such as the United States and Japan,¡± said Liang Haiming, head of China Silk Road iValley Research Institute. ¡°China¡¯s bay area will become a world-leading one and demonstrate the vitality of our systems.¡±

Lin Jiang, vice-dean with the Center for Studies of Hong Kong, Macao and Pearl River Delta at Sun Yat-sen University, noted the complexity of building this bay area because different social and legal systems, three separate customs territories and three currencies are involved.

¡°Such uniqueness brings challenges,¡± Lin said, but adding that they can be overcome by improving the unified mechanism of regional public goods.

Ip Kuai Peng, pro-rector of the City University of Macau, said he is confident that the Greater Bay Area will evolve into a vibrant, innovative world-class area with high efficiency, rich resources, a strong economy, and good opportunities.

¡°The high degree of resource flow and integration in the area will truly enhance the well-being of Macao residents,¡± he said. ¡°For example, the ¡®one-hour living circle¡¯ will greatly facilitate the life and employment of bay area residents.¡±

Fang Zhou, research director of the Hong Kong-based One-Country-Two-Systems Research Institute, said developing the bay area will provide young people with new opportunities.

It will allow Hong Kong residents to further enjoy the benefits of the country¡¯s economic development and sustain Hong Kong¡¯s long-term prosperity and stability, he said.  Feb.19,2019, from english.gov.cn

point.gif (302 bytes) China reviews its commercial development in 2018

China saw stable commercial development last year in consumption, trade and foreign investment, Ministry of Commerce (MOFCOM) said in a media briefing on Feb 12.

Below is a summary of key points from the briefing:

Consumption plays a bigger role

Consumption has served as a primary driving force for economic growth for five consecutive years.

With the retailing of consumer goods in 2018 growing nine percent year-on-year to 38.1 trillion yuan ($5.6 trillion), consumption contributed 76.2 percent of economic growth, 18.6 percent higher than the previous year.

Backed by the development of e-commerce, supply chain and digital consumption, the online retailing reached nine trillion yuan in 2018, 23.9 percent up year-on-year.

New trade record

Last year saw a total trade revenue of 30.5 trillion yuan with a 9.7 percent year-on-year growth, according to data from MOFCOM, a new record for trade amount.

The new record came with better structure. China¡¯s trade with Belt and Road countries accounted for 27.4 percent of its total trade and the country¡¯s middle and western regions contributed 15.8 percent of China¡¯s total trade.

Meanwhile, private enterprises made up 48 percent of China¡¯s export, remaining the largest export entity.

The growing goods trade was also more balanced last year with the surplus dropping to 18.3 percent and service trade ranking second in the world for five consecutive years.

In terms of trade system and governance, China has continued to support the multilateral trade system and declared its principles and claims in the reform of the global trade system in a white paper named China and the World Trade Organization (WTO).

China also actively participated in global trade governance through G20, Shanghai Cooperation Organization Qingdao summit and BRICS summit.

China has made new progress in cooperation with Africa through 2018 China-Africa Cooperation Form Beijing Summit, and launched plans in eight fields, including technology, investment, trade, and communication.

Stably rising FDI & OFDI

While global cross-border investment saw a drop of 19 percent, China¡¯s foreign direct investment (FDI) embraced a stable and high-quality increase. Over 60,000 foreign-funded enterprises were established last year, a year-on-year increase of 69.8 percent.

The country¡¯s actual use of foreign capital was 885.6 billion yuan, growing by 0.9 percent, which was equivalent to $135 billion, up three percent.

Investment from developed economies grew rapidly. Investment from the UK, Germany, South Korea, Japan, and the US into China increased by 150.1 percent, 79.3 percent, 24.1 percent, 13.6 percent and 7.7 percent respectively.

China continued to optimize its use of foreign capital, with the proportion of foreign capital used in manufacturing sector increasing to 30.6 percent, and in high-tech manufacturing increasing by 35.1 percent.

China¡¯s outward foreign direct investment (OFDI) for the year stood at $129.8 billion, with an increase of 4.2 percent year-on-year. The investment into economies along the Belt and Road was $15.6 billion, up 8.9 percent.

The country¡¯s OFDI structure continued to be optimized, with investment mainly put into such fields as rental sector, business services, manufacturing, wholesale and retail, and mining industry.

China¡¯s contracted projects overseas promoted the host country¡¯s economic and social development, creating annual turnover of $169 billion and 840,000 local jobs. The projects also drove China¡¯s export of equipment and materials to $17 billion.

Three major tasks

Vice-Minister of Commerce Qian Keming reviewed three major accomplishments last year: the hosting of the first International Import Expo (CIIE), dealing with trade frictions with the US and promoting Hainan Free Trade Zone.

In 2019, the ministry will continue efforts for the second CIIE, the ongoing trade friction and for FTZs as well as free trade ports, in a bid to achieve a strong domestic market and comprehensive opening-up. Feb.14,2019, from english.gov.cn


point.gif (302 bytes) State Council encourages vocational education reform

The State Council issued a circular on Feb 13, detailing the reform plan for China¡¯s vocational education to cultivate high-quality workers and technical personnel.

The circular said that by 2022, 50 high-level advanced vocational schools with 150 key majors should be established, and a national standard system of vocational education that covers most industries and meets international advanced levels will be created. Enterprises will show more willingness to participate in vocational education, and teachers with both theoretical and practical skills will account for over half of the total number of professional teachers.

To achieve these goals, efforts should be made to improve the framework of the national vocational education system, enhance secondary vocational education, and promote the high-quality development of advanced vocational education, as well as intensify the training system for high-level, application-oriented personnel, according to the circular.

It also emphasized the fundamental role of standards in improving the quality of vocational education, and decided to initiate the pilot work of academic certificates plus vocational skill level certificates (1+X) system, encouraging students to learn more skills while obtaining a diploma.

Vocational training in about 10 industries that are short on skilled talent will be conducted, and enterprises are also encouraged to participate, the circular added.

The circular also urged the integration of production and education by encouraging universities and enterprises to work together to make training plans, promoting comprehensive and deepened cooperation, and constructing a number of high-level training bases.

Benefits for technical personnel will be improved, as will the educational fund investment mechanism, according to the circular.

It also urged improving the quality evaluation and supervision system of vocational education. Feb.14,2019, from english.gov.cn
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point.gif (302 bytes) China steps up 5G commercial use, adding value up to $4.4t

Despite the complicated international and domestic economic environment in 2018, the scale of the industrial sector in China continued its expansion, and the total national industrial added value surpassed 30 trillion yuan ($4.4 trillion) for the first time in 2018. Leading China to rank first in the world, said Miao Wei, head of the Ministry of Industry and Information Technology (MIIT) on a news release conference on Jan 29 this week.

Miao also said that China¡¯s industrial output above designated scale grew 6.2 percent year-on-year, which is better than expectations. The profit of industrial enterprises above designated size also increased by 10.3 percent year-on-year.

Another uptick is China¡¯s industrial investment. Manufacturing investment rose by 9.5 percent year-on-year in 2018, increasing for the past consecutive nine months, and investment in high-tech manufacturing saw growth of 16.1 percent, according to Miao.

Among the manufacturing investment, about 50 percent of total new investment was used at technologies upgrading, which is in line with China¡¯s goal of becoming a more advanced manufacturing powerhouse.

China will continue to push forward the development of quality manufacturing in 2019, boosting connected vehicles, 4K (Ultra HD) video transmission, cruise ship-building industry, information technology sector and telecommunication sector.

In 2018, China also lifted its access restrictions to foreign manufacturers of ship, plane and new-energy car. Meanwhile, the government also clarified the open-up schedules of other types of car manufacturers to international businesses. As of 2018, China has opened up it¡¯s entire general manufacturing to foreign investors. The country¡¯s manufacturing industry used $41.2 billion in 2018, grew 22.9 percent year-on-year.

While the Chinese companies hit blocks while push 5G technologies overseas, it has made breakthrough domestically in 2018.

According to Miao, the third stage test of technical experiments for 5G research and development has been finished, and the 5G system¡¯s devices have the ability for pre-commercial use.

The development of 5G will significantly boost the Chinese economy; an MIIT official said that the first five years of implementing 5G would generate 10 trillion economic output and over three million new jobs. MIIT also released a time map for 5G commercial use, during the first half of 2019, China will launch 5G terminal chip, and in the middle of 2019, China will roll out 5G smartphone terminal. The commercialization of 5G will create many new opportunities, give the entire industrial chain of the chip, terminal, system and the application a strong boost.

China will also continue to improve the internet coverage rate in small cities and villages, by the end of 2020, 98 percent of the poverty strike villages will have the internet connection, letting more Chinese share the dividends of the information communications technology development. Jan.30,2019 From:english.gov.cn


point.gif (302 bytes) State Council calls for development of bonded zones

The State Council recently issued a circular, outlining plans for the increased development of bonded zones.

Comprehensive bonded zones, according to the circular, need further innovation and upgrading, along with more contributions to opening-up, in a bid to let bonded zones blossom into international hubs of manufacturing, research and development (R&D), design, and maintenance.

Manufacturing enterprises will be allowed to engage in overseas projects with their spare capacity, the circular said.

A number of items produced inside the comprehensive bonded zones will be exempt from the cargo-handling list for automatic import licensing, including key products like mobile phones and automobile accessories, to facilitate their domestic sales.

With preferential policies in comprehensive bonded zones, departments concerned should support the development of national centers for industrial innovation, technical innovation, and engineering research, as well as emerging R & D institutions inside the zones.

Logistics distribution centers should be established, with trade procedures further simplified inside the bonded zones.

Goods not subject to import tariffs, trade restriction certificates, and tax reimbursement, will have an easier journey entering and exiting the bonded zones.

Enterprises in bonded zones will be allowed to conduct high-technology and high added-value tests and global maintenance services.

Remanufacturing operations will be allowed in the bonded zones, including aerospace and engineering machinery, according to the circular.

Centers for marketing services will be established to cultivate new drivers of development, the circular said.

Cross-border e-commerce, outsourcing services, and future delivery will also be encouraged in the bonded areas. Jan.29,2019 From:english.gov.cn
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point.gif (302 bytes) State Council promotes development of cities without waste

The State Council decided to promote a pilot program for cities without waste, according to a circular issued on Jan 21.

Cities without waste means an urban development model that is aimed at minimizing landfills and the environmental impact of solid waste by promoting green development modes and lifestyles, reducing solid waste from the source and transforming them into resources.

A total of 10 cities with necessary conditions and moderate scale will be selected nationwide to carry out the pilot program.

According to the circular, by 2020, an index system, an integrated management system and a technical system for construction of cities without waste should be established, and significant progress should be made in key areas in the pilot cities.

The circular emphasized macro guidance by the government while implementing green production in industrial and agricultural sectors.

It also advocated a green lifestyle to reduce household waste at the source and transform them into resources.

Comprehensive safety control of hazardous waste should be strengthened, it said, adding that new models of industrial development should be cultivated to energize market players.

Financial support and supervision of the pilot program should be enhanced, the circular stated.
Jan.23,2019 From:english.gov.cn


point.gif (302 bytes)The 13th Liaoning snow and ice hot spring tourism promotion season was launched in Bayuquan District
On the evening of January 14th, the 13th Liaoning snow and ice hot spring tourism promotion season launching ceremony and Liaoning four seasons tourism promotion film launching ceremony was held in Bayuquan District Honghai river snow and ice carnival.Yu Gongbin, deputy secretary of the CPC Yingkou committee and mayorof Yingkou municipal government, Wang Xiaojiang, deputy director of the provincial department of culture and tourism, Zhong Weiliang, chairman of the provincial tourism investment group, Ji Zhaohui and Fang Jingguang, city leaders attended the opening ceremony. Jan.17,2019


point.gif (302 bytes)Free trade port efforts gain traction

China will step up efforts to accelerate free trade port construction this year, a further step to build on the success of free trade zones across the country, the Ministry of Commerce said.

Assistant Minister of Commerce Ren Hongbin said one of the ministry¡¯s priorities in 2019 is to advance the building of free trade zones and explore steps to construct free trade ports in China.

The ministry will draw on international experience and come up with policies and institutional systems for building free trade ports ¡°as soon as possible¡±, Ren said at a news conference on Jan 16.

Free trade ports are regarded as the world¡¯s most open form of economic zone, which has brought prosperity to places such as Singapore thanks to broad-based preferential policies on trade and investment.

It is open to all commercial vessels on equal terms. Goods may be unloaded, stored and shipped without the payment of customs duties.

According to last year¡¯s government guidelines, a free trade port system will be ¡°basically established¡± in Hainan by 2025. Last April, China announced it would develop the island into a pilot free trade zone, through which Hainan will be granted more capacity to reform, and speed up the fostering of a law-based, international, and convenient business environment.

Zhao Ping, a senior researcher at the China Council for the Promotion of International Trade Academy, said: ¡°It is necessary to create a high-tech talent pool to help to speed up the pace of transforming Hainan into a free port. Key focus areas would include shipping, logistics and finance, so talent in these sectors should be valued.¡±

Sang Baichuan, a professor at the University of International Business and Economics, said specially tailored policies are also needed in terms of market access, financial systems and taxation.

Tianjin, a coastal city in northern China, plans to apply for the establishment of a free trade port, which can further integrate the development of the Beijing-Tianjin-Hebei region, said the administration of China (Tianjin) Pilot Free Trade Zone. In a recent emailed interview with China Daily, the administration revealed that the construction plan will be submitted to the higher authorities ¡°in due course¡±.

About five years ago, China set up its first FTZ in Shanghai as a way to promote trade and investment. Since then, pilot FTZs have sprung up across the country. In all, 12 have been built or planned.

Ren said in 2019, the ministry will support Shanghai to boldly innovate in facilitating investment and trade.

The ministry will further reduce the negative list for foreign investment access in the pilot FTZs, and accelerate the further opening of key areas such as medical care and education, Ren said.  Jan.16,2019    from:english.gov.cn
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point.gif (302 bytes)Larger-scale tax cuts to be introduced for small, micro businesses

China will unveil larger-scale tax cuts and tax exemptions for micro and small enterprises (MSEs), a State Council executive meeting chaired by Premier Li Keqiang decided on Jan 9.

Further tax and fee cuts reflect intensified implementation of the proactive fiscal policy and are an important step in deepening supply-side reform. At the annual Central Economic Work Conference held in December 2018, President Xi Jinping stressed the need to introduce tax and fee cuts on a larger scale and more inclusive tax breaks for MSEs. Premier Li Keqiang said at the conference that MSEs, as major job creators, should be given priority in such tax cuts.

Reducing tax burdens for MSEs has been on the agenda of the State Council¡¯s executive meetings four times throughout 2018. Statistics from tax authorities show that from January to November 2018, tax cuts for MSEs totaled 184 billion yuan ($27 billion). These tax cuts have helped to lower the cost of entrepreneurship and innovation and help businesses gain vitality, create more jobs and ease their financing woes.

¡°Amid increasing downward pressure, it is essential to introduce tax and fee cuts for small and micro firms, as this will be conducive to boosting employment and shoring up private businesses at the same time,¡± Premier Li said.

The meeting rolled out a host of inclusive tax breaks for MSEs. The eligibility of small and low-profit businesses to benefit from preferential corporate tax will be significantly expanded, and deeper cuts on corporate tax will be introduced. Small and low-profit businesses with an annual taxable income of less than 1 million yuan and between 1 million and 3 million yuan will be eligible to have their tax calculated based on 25 percent or 50 percent of their taxable income. This is expected to reduce tax burdens of such enterprises to 5 percent and 10 percent. The adjusted tax incentives are expected to cover 95 percent of corporate tax payers, 98 percent of which will be private businesses.

At the same time, VAT threshold on small-scale tax payers, which mainly includes MSEs and individual businesses and other types of individuals, will be raised from 30,000 yuan to 100, 000 yuan of monthly sales.

Provincial-level governments will also be given the authority to cut taxes up to 50 percent for small-scale VAT taxpayers under several local tax items, including resources tax, as well as education and local education surcharges.

The scope of tax incentives applied to investment in high-tech start-ups will be expanded to give more tax breaks to venture capital firms and angel investors investing in these businesses.

At the same time, central government finance will provide stronger general transfer payment to local authorities to make up for possible funding gaps at local levels caused by large-scale tax and fee cuts.

The tax incentives will cover all taxes incurred since Jan 1, and will be effective for a tentative three years. They are expected to save about 200 billion yuan for small and micro businesses every year.

¡°Since last year, the government has spent within its means and enacted several rounds of tax incentives for small and micro firms. The latest round of tax cuts will be the most substantial so far, and it is also appropriately structured,¡± Premier Li said. ¡°The government must tighten its belt to give more benefits to businesses and energize the market.¡±  Jan.11,2019    from:english.gov.cn
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point.gif (302 bytes)Mayor Yu gongbin met with guests fromNorway

Yesterday morning, deputy secretary of CPC Yingkou committee and mayor Yu gongbin met with the mayor and his delegation of Nangaranga city, Finmark province, Norway at the Yingkou Guest House.Municipal standing committee, vice mayor Dong xu was present at the meeting. Jan.8,2019

point.gif (302 bytes)A new chapter of opening up and development of Yingkou city

The press office of Yingkou municipal government held a press conference. Yingkou comprehensive bonded zone has passed the inspection, marking a new chapter of opening up and development of Yingkou city. Jan.3,2019

point.gif (302 bytes) State Council unveils policy support for SME growth

Premier Li Keqiang visits Luolai Lifestyle Technology Co during an inspection in Jiangsu province on Nov 29.

China will intensify its support for the development of the private sector, and small and medium-sized enterprises (SMEs) to boost the vitality of market entities and enhance their confidence, an executive meeting of the State Council, China¡¯s cabinet, decided on Dec 24. The meeting was chaired by Premier Li Keqiang.

The growth of SMEs has been high on the Chinese government¡¯s agenda. An array of policy incentives in the fiscal, tax, and financial fields and in relation to the business climate and public services has been introduced to support SME development. These policies have paid off.

President Xi Jinping emphasized on several occasions the need to protect the lawful rights and interests of private enterprises. Premier Li Keqiang called for giving stronger support to private businesses and SMEs to ease their financing woes and promote the integrated development of businesses of all sizes.

The private sector in China, which is mainly composed of SMEs accounting for 90 percent of all businesses, now contributes more than 50 percent of tax revenue, over 60 percent of GDP, more than 70 percent of technological innovations and over 80 percent of urban employment. Private businesses have become a key driving force for economic growth and social progress.

¡°Intensified support for growth of the private sector, especially SMEs, helps enhance the internal dynamism for economic growth,¡± Premier Li said. ¡°To boost the private sector of the economy and micro and small businesses, it is crucial to create a level-playing field, especially in property protection and market access for these businesses to compete in a law-based, neutral environment.¡±

Efforts will be made to foster a fair and convenient business environment. The views of businesses must be heeded in deciding business-related policies, and reasonable transition periods should be arranged. Businesses of all sizes and all types of ownership will be treated as equals in the tendering, land use and other respects under the principle of competitive neutrality.

Unless otherwise stipulated, all restrictions on the minimum registered capital and the equity structure of private firms will be removed when the firms in question invest in resources development, transportation and public utilities.

Stronger innovation capacity will be supported. Catalogues of recommended products and services will be issued to help high-tech SMEs gain better access to the market. Private firms will also be supported in participating in the R&D of core technologies and the formulation of national standards.

Deeper tax and fee cuts will be introduced. Financing services will be improved. The required reserve ratio cuts targeting inclusive finance will be refined. The re-lending policy targeting small firms will be expanded to qualified small and medium-sized banks and new-type internet banking.

The permitting processes for the listing of private firms and re-finance will be accelerated. Asset management products and insurance funds will be employed in addressing the risks of equity ¡ª backed mortgage of listed private firms.

The lawful rights and interests, including their safety and property, of private entrepreneurs will be protected in accordance with the law, the meeting on Dec 24 urged. No government department, public institution or State-owned enterprise should defer contractual payments owed to private businesses.

Premier Li stressed the importance of keeping policies well-coordinated, consistent and credit-worthy to provide businesses an enabling environment and anchor market expectations.
Dec.27,2018,from:english.gov.cn
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point.gif (302 bytes) China gears up for upcoming New Year, Spring Festival holidays

BEIJING ¡ª Transport authorities have been told to thoroughly prepare for the upcoming busiest travel season, the New Year and Spring Festival holidays, according to an official directive published on Dec 23.

Administrations of railway, highway, waterway, civil aviation and urban public transport have been ordered to top their capacity and prioritize migrant workers and students, according to a directive issued by the general offices of the Communist Party of China Central Committee and the State Council.

The transport authorities should step up efforts to crack down upon ticket scalpers and dangerous driving and try their best to prevent serious traffic accidents and traffic jams, the document said.

The directive also ordered authorities of civil affairs to take good care of disadvantaged people, commercial departments to maintain market order, and the workplace safety authorities and the police to look out for serious public security accidents.

Senior officials were warned against violations of the Party¡¯s frugality rules during the upcoming festivals, such as spending public money on expensive dinners, handing out and taking gifts, and holding luxury ceremonies.Dec.25,2018 , from:english.gov.cn
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point.gif (302 bytes) Premier calls for joint efforts from all countries
¡°In its 40 years of reform and opening-up, China has taken both developed and developing countries¡¯ development as its opportunity,¡± Premier Li Keqiang said while meeting with representatives at the third Understanding China Conference on Dec 17.
Over the past few years, China has learned a lot while expanding its opening-up and strengthening all-around cooperation with other countries. And China is willing to further expand its opening-up, and reinforce complementary advantages with other countries, achieving common development and prosperity, the Premier said.
Premier Li also heard speeches from former Mexican president Ernesto Zedillo, former British prime minister Gordon Brown, former Danish prime minister Helle Thorning-Schmidt, former Greek prime minister George Papandreou and former World Trade Organization director-general Pascal Lamy, and answered their questions.
The Understanding China Conference is an important platform for the world to understand China¡¯s development. More than 30 former politicians, strategists, entrepreneurs and scholars attended the conference.
The delegates shared their concerns about the current international situation.
Zedillo said that world politics and the economy are facing unprecedented challenges.
Schmidt called for strengthened dialogue and cooperation in the era of globalization to make contributions to human progress.
Brown said that countries should join hands and promote the reform and improvement of international rules, avoiding a lose-lose situation due to protectionism.
Achievements in world peace and poverty alleviation over the past 70 years mainly benefited from multilateralism, free trade and a rules-based international order, the Premier responded. He added that the world should reinforce multilateralism and free trade under the complicated political and economic situation, and solve the problems arising in globalization and world trade in light of development.
He said it is necessary to uphold the purposes and principles of the UN Charter, safeguard the framework and basic rules of the WTO, and solve problems through reform, rather than reversing globalization or even interrupting free trade.
Reform needs joint efforts from all over the world, he added.
China supports the reform and improvement of the WTO rules to advance with the times, and the reform must stick to the general direction of free trade, accommodate the concerns and interests of all parties, defend the development rights of developing country members, and narrow the gap between the North and the South, the Premier said, while responding to Lamy about how to reform the WTO.
¡°No matter what kinds of contradictions or frictions, the basic direction of safeguarding lasting peace and common prosperity and development of the world should not be violated,¡± the Premier said, quoting a Chinese saying that minor principles should be subordinated to major ones.
This basic direction is the major principle, because everyone wants a better world, he added.
According to Zedillo, the third Understanding China Conference was held at the right time, as China is celebrating the 40th anniversary of its reform and opening-up. Brown congratulated China on its great achievements in economic development, poverty reduction and education since the reform and opening-up policy was adopted.
Premier Li said China has seen remarkable achievements over the past four decades, which brought benefits to not only the Chinese people but the world at large, and was the result of painstaking efforts made by the Chinese people.
As it did in the past, the country¡¯s development will rely on reform and opening-up in the future, the Premier said, adding that China will continue to promote reform and opening-up, and make efforts to create a level-playing field for both domestic and foreign companies and develop an open economy at a higher level.
China has become the second-largest economy in the world, but its per capita income is still below the world average, he said. According to current standards of any international organization, China remains a developing country, which is quite special from either a historical or a global perspective.
¡°Development is the foundation of and key to addressing all problems in China,¡± the Premier noted. ¡°China will continue to pursue economic development as its central task and properly handle its internal affairs to maintain stable economic operation and boost high-quality development.¡±
Premier urges efforts from all countries
¡°I¡¯m paying close attention to some major economies, whose fluctuations are never gains for the Chinese economy,¡± Premier Li said. ¡°On the contrary, I hope other countries could regard China¡¯s development as an opportunity.¡±
A complete global industrial chain has been formed with the development of globalization, and it will suffer if any part of it goes wrong, the Premier said, adding that China has become a key part of the chain, and is providing irreplaceable energy to it.
¡°The prosperity of human society is not a zero-sum game, but the result of mutual development, so China is willing to complement its advantages with other countries to achieve win-win cooperation,¡± Premier Li added.
Responding to a question by Schmidt concerning IPR protection, the Premier said China will further improve related laws and regulations, strengthen the crackdown on IPR infringement, and will never break international rules in this field.
¡°We should continue to abide by the rules and consensuses we made in the past, push on reform and improve the global governance system,¡± Premier Li stressed. Dec.21,2018 .from:english.gov.cn


point.gif (302 bytes) China to promote competitive sports industry

The State Council released a circular to speed up development of the competitive sports industry, in an effort to tap consumption potential, improve livelihoods, and build a new driver for economic growth.
According to the circular, by 2025, the scale of the competitive sports industry will reach 2 trillion yuan, and an industrial system with abundant products, reasonable structure, and balanced development should be established.
A number of cities and clusters will be built for sporting events and performances, and 100 influential sports events will be organized.
Meanwhile, a group of competitive sports enterprises will be supported, with 100 brands built with independent intellectual property rights, making the industry an important force for social and economic development.
As the circular stated, the nation will develop professional sports, with particular emphasis on football, basketball, volleyball, table tennis, badminton, and ice hockey. Irrational investments and disorderly competition should be curbed.
Top international competitions with popular brand recognition and a wide market potential will be introduced, and amateur sports events such as marathons, martial arts, and outdoor sports will be supported.
As the Beijing Winter Olympics approach, ice and snow sports will also be promoted, the circular said.
To optimize the market environment, efforts are also pledged to reform the commercial system, cultivate independent and legitimate industrial organizations, encourage consumption in sports events with better fan etiquette, and promote scientific planning and operation of sports venues.
Tourism, traffic, entertainment and other support services are also stressed in the circular.Dec.20,2018 from:english.gov.cn
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point.gif (302 bytes) Premier Li urges easing VC firms¡¯ tax burdens

Premier Li Keqiang has called for efforts to reduce tax burdens on individual partners of Chinese venture capital firms at the State Council executive meeting on Dec 12.

The Premier also urged for improvements in preferential tax policies for venture capital funds.

Following his remarks, a decision was made to introduce more income tax incentives to promote venture capital investment and increase support for innovation and entrepreneurship.

China¡¯s venture capital industry, ranked second in the world in terms of scale, plays a significant role in innovation and entrepreneurship as well as employment, and is of great importance to capital market development, Premier Li said.

As small and micro-sized enterprises still encounter difficulties in financing, many have received funding from venture capital, he added.

He called for the continuing promotion of employment driven by entrepreneurship, with more support from the government pledged at the meeting.

Meanwhile, the market was also encouraged to play its role to raise efficiency of innovation and entrepreneurship, and expand employment and commercialization of research achievements.

It was decided at the meeting that venture capital income tax will be calculated on a single investment fund from Jan 1 next year, as 70 percent of seed investments was considered deductible.

For individual partners, incomes from share transfer and dividends of taxable funds will be subject to a 20 percent individual income tax.

Venture capital firms¡¯ income tax can also be levied based on annual incomes, and incomes of individual partners will be subject to a progressive rate of five to 35 percent.

The policy will be in place for five years, in an effort to reduce tax burdens for individual partners of venture capital firms.

¡°The overall principle is to reduce tax burdens for enterprises to send a clear signal and stable expectation to the market,¡± Premier Li said. Dec14,2018 .from:english.gov.cn


point.gif (302 bytes) China grants more support to local governments with good performance

The Chinese government will increase the number of incentive measures to local governments scoring obvious results in implementing major policies from 24 in 2016 to 30, according to a circular released by the State Council on Dec 10.

Compared to the former 24 items, the government added nine incentive measures, removed three and improved the 21 measures that remained.

Those local governments will be given priority treatment on development projects, pilot reforms, and use of funds, according to the circular.

Local governments with remarkable achievements in business reform will be included in related pilot programs first, and those largely promoting foreign trade and foreign investment will be supported with precedence in growing bases for foreign trade transformation and upgrade, the circular said.

Eligible projects in a provincial region, where annual fixed-asset investment retained stable growth and investment projects performed well within the budget of the central government, would be granted certain investment funds within the central budget, the circular stated.

Provinces, autonomous regions and municipalities directly under the central government that performed well in fiscal management will be given incentives to support model cities and counties.

In provincial regions that met the annual target in transportation construction, put in place local investment and rolled out effective measures in bringing in private capital, eligible local transportation construction projects will be placed on top of the three-year rolling plan, according to the circular.

Also, those that performed well in financial risk control, building sound financial order and protecting financial consumers¡¯ rights, will be given support to conduct pilot projects in financial reform, the circular stated.

All departments are asked to put the incentive measures in place and improve assessment of local governments¡¯ work in inspection. Local governments that win praise are required to build a work mechanism to implement those incentive measures, according to the circular.Dec.13,2018 from:english.gov.cn
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point.gif (302 bytes) Yingkou Area of Liaoning Free Trade Zone was commended by State Council
The general office of State Council recently conducted the fifth major inspection on the implementation of major decisions and arrangements, and commended the typical practices found in the inspection. Yingkou Area of Liaoning Free Trade Zone was listed as one of the areas with experience in continuously optimizing the business environment through institutional innovation. Dec.7,2018,
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point.gif (302 bytes) State Council promotes stable employment

The State Council emphasized stable employment in a circular released on Dec 5.

The circular said that enterprises with no or few layoffs can get back 50 percent of actual unemployment insurance premiums paid in the previous year.

It also stated that governmental-secured financing institutions should provide more support to small and micro enterprises with a lower rate of security.

Self-employed entrepreneurs can apply for guaranteed loans for entrepreneurship of up to 150,000 yuan, and small and micro enterprises with 25 percent of their employees hired as required by the loan could get up to 3 million yuan.

Meanwhile, authorities were urged at all levels to relax requirements for application of guaranteed loans, the circular said.

The State Council also encourages the establishment of start-up incubators to provide low-cost venues, guidance and policy support for entrepreneurs, and those that perform well will be rewarded.

Trainee subsidies will be extended from unemployed graduates to unemployed youth aged 16 to 24, according to the circular.

Weak companies are encouraged to conduct on-the-job training for employees, the circular said, adding that colleges, vocational training institutions, and qualified enterprises are encouraged to carry out vocational and entrepreneurship training for the unemployed.

Those with vocational qualification certificates can apply for skills promotion subsidies, and the condition will be relaxed from three years payment of unemployment insurance to one year, according to the circular.

The unemployed can register at the public employment service agencies of their permanent residences, and enjoy local employment and entrepreneurial services, employment support policies, and tax incentives.

Eligible unemployed persons also can receive unemployment insurance benefits, and laid-off workers with financial difficulties will be offered interim living subsidies.

Local governments at all levels should play an effective role in promoting employment in the region, the circular said.

The circular also urged relevant departments to ramp up publicity about the policies, optimize workflow, and strengthen supervision, ensuring that recipients can benefit from the policies and the funds.

The social responsibilities of enterprises also are mentioned in the circular. Dec.5 2018, from:english.gov.cn

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point.gif (302 bytes) China¡¯s January-October industrial profits up 13.6%

China¡¯s major industrial enterprises achieved a total profit of 5.52 trillion yuan ($795.4 billion) from January to October, up 13.6 percent year-on-year, data showed on Nov 27.

The figure was down 1.1 percent compared with that from January to September and it came from weakening demand caused by the China-US trade frictions.

¡°There are signs that overall demand is weakening. That could lead to production decline and falling profits,¡± said Xu Wei from Development Research Center of the State Council.

In October alone, the total profits of China¡¯s major industrial enterprises with annual revenue of more than 20 million yuan (about $2.89 million) increased 3.6 percent year-on-year to reach 548.02 billion yuan ($78.97 billion), 0.5 percentage points lower than last month.

Analysts attributed the slowdown to easing factory-gate inflation, despite a strong rebound in output.

Profits of major industrial enterprises in the first ten months registered a decrease of 1.1 percentage points compared with last year, but remained a steady growth on the whole, according to He Ping, from the Industrial Division of the National Bureau of Statistics (NBS).

Those with more new profits were heavy industries like steel, petroleum, chemical, and building materials. The Steel industry, for example, enjoyed a profit increase of 63.7 percent from January to October.

The debt-asset ratios of major industrial firms dropped 0.5 percentage points year-on-year to 56.7 percent by the end of October. Nov.30,2018, from:english.gov.cn

point.gif (302 bytes) State Council reshuffles National Textbook Committee

The State Council announced the reshuffle of the National Textbook Committee on Nov 28, appointing Vice-Premier Sun Chunlan as the head.

Minister of Education Chen Baosheng, Vice-Minister of Publicity Department of the CPC Central Committee Wang Xiaohui, and Deputy Secretary General of the State Council Ding Xiangyang will serve as deputy heads of the committee.

Deputy Minister of Education Zhu Zhiwen will serve as secretary general.

Group members are senior officials from State Council departments and experts from academic institutions across the country.

The group office was set up at the Ministry of Education.Nov.28 ,2018, from:english.gov.cn
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point.gif (302 bytes) Measures rolled out for further reform, innovation in pilot FTZs

The Chinese government has rolled out a series of measures to support pilot free trade zones and deepen reform and innovation, according to a circular released on Nov 23.

The 53 measures improving the investment environment, trade facilitation, financial innovation and the human resources sector can help improve the quality of pilot FTZs, according to the circular.

To improve the business environment, the ratio requirement for foreign technical personnel in foreign-invested construction and engineering design enterprises, as well as restrictions on recruitment agencies, will be relaxed.

Also, land use for pilot FTZs in some provinces and municipalities should be given priority in the overall layout.

In an effort to facilitate trade, qualified pilot zones will be encouraged to conduct pilot programs on parallel import automobile businesses.

The circular also stressed financial innovation to serve the real economy. Efforts should be made to simplify administrative approval procedures for insurance branches, and establish and improve the information sharing system about enterprises¡¯ demand for insurance in pilot FTZs, the circular stated.

Pilot practices in the human resources sector were also encouraged. The authority to approve Sino-foreign joint ventures and wholly foreign-owned agencies with talent intermediary service in pilot FTZs will be delegated to local authorities in the zones, according to the circular.

The circular also urged local governments and all related departments to put importance on improving construction and management of pilot FTZs, and promote implementation of those measures.Nov.22,2018, from:english.gov.cn

point.gif (302 bytes) New patent agency regulations issued

The amended patent agency regulations, which were passed at the State Council executive meeting on Sept 6, were released on Nov 19 according to a State Council decree signed by Premier Li Keqiang.

They will be put into effect on March 1, 2019.

The regulations are aimed at standardizing patent agent behaviors in order to protect the legitimate interests of agencies and agents.

The State Council department in charge of patent administration shoulders management and supervision of patent agency nationwide, the regulations state.

The regulations set certain rules in terms of regulations on agencies and agents. For example, the organization form of patent agencies shall be a partnership or limited liability company, among others.

Chinese citizens with science and engineering majors in degrees higher than junior college are eligible to participate in the national examination for patent agents, the regulations read.

As to agent practice, it was stated agencies and agents are liable for keeping secrets for creations they have knowledge of, except for those patents already published.

Illegal behavior will have consequences. Qualification certifications will be revoked if obtained via dishonest means, and fines up to 100, 000 will be imposed if agencies let out the content of their bailers¡¯ creation, to give some examples.

Foreign patent agencies setting up representative institutions in China shall first be approved by the State Council¡¯s patent administration department, according to the regulations. Nov.20,2018, from:english.gov.cn

point.gif (302 bytes) Leading group for 2nd pollution census reshuffled

The State Council released a circular on Nov 12, stating a national group for the second census on pollution source will be readjusted and renamed.

The leading group will be led by Vice-Premier Han Zheng, with three deputy heads ¡ª Ding Xuedong, deputy secretary general of the State Council; Li Ganjie, minister of ecology and environment; and Ning Jizhe, head of the National Bureau of Statistics.Nov.15,2018, from:english.gov.cn

point.gif (302 bytes) Multi-pronged measures to help ease financing woes of small firms

China will make more targeted efforts to boost the financial sector¡¯s support for the real economy and tackle financing difficulties for small and micro businesses, the State Council¡¯s executive meeting chaired by Premier Li Keqiang decided on Nov 9.

The meeting heard a report on delivery of the policies regarding accessible and affordable financing for micro and small businesses.

The Chinese government places great importance on financial services targeting micro and small businesses. President Xi Jinping stressed the need for better financial services and smooth channels for financial services to flow to the real economy, especially smaller companies. Premier Li Keqiang underlined the importance of smoothing the policy transmission channels with targeted measures and encouraging financial institutions to raise the share of loans to micro and small companies and cut their financing costs.

The People¡¯s Bank of China, China¡¯s central bank, has conducted targeted cut to required reserve ratio (RRR) four times this year, releasing a liquidity of 2.3 trillion yuan. By the end of September, outstanding loans for micro and small firms totaled over 33 trillion yuan, up by 11.4 percent year on year.

¡°Government departments are encouraged to take a multi-pronged approach, and we must waste no time in helping small firms tackle their liquidity difficulties,¡± Premier Li said. ¡°No loans extended should be willfully withdrawn.¡±

Greater efforts will be made to enhance financial services for the private sector, especially micro and small firms.

Financing channels will be widened. The scope of qualified collateral for the Medium-term Lending Facility (MLF) will be expanded to cover loans for micro and small firms with a credit quota of up to 10 million yuan per company. Support will be given to more firms for equity and bond financing.

Financial institutions will be encouraged to make their lending businesses to micro and small firms part of the internal performance evaluation, and allocate corresponding incentive rewards.

The meeting urged hitting the target of lower lending rate for micro and small firms. Major commercial banks were called upon to work hard to cut their average lending rate by one percentage point in the fourth quarter compared with the first quarter, and any unnecessary procedures or surcharges in financing will be removed. The meeting also called for effective measures to prevent credit risks.

Financial institutions will be encouraged to take substantive measures to further tilt policies in favor of micro and small firms as well as other private companies, Premier Li said.

The government must also provide support in terms of guarantee and taxation, he added.

The meeting also discussed how to better leverage government-managed guarantee funds to make more financial resources available to micro and small companies. It was decided at the meeting that supporting agricultural and rural development as well as small companies should be the primary business of all government-managed guarantee and re-guarantee institutions, with priority given to micro and small firms as well as entities engaged in agricultural and rural development with a guarantee volume of up to 5 million yuan per entity.

Financing costs will be lowered. The State Financing Guaranty Fund should not set its guarantee fee rate higher than provincial institutions. Risks should be shared, with both the State Financing Guaranty Fund and financial institutions shouldering no less than 20 percent of risks.Nov.9,2018, from:english.gov.cn
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point.gif (302 bytes) Intensive platform of government websites on pilot run

The State Council issued a circular for the pilot run of intensive platforms of government websites.

The move is set to integrate scattered websites, connect data, and resolve inconveniences through intensive platforms built on a unified information and resource base.

The circular called for active application of new technologies, coordinated top-level design, strict budget and project management, and stable progress in the pilot stage.

According to the circular, intensive platforms should be completed before the end of December 2019 in 10 municipalities, regions, and autonomous regions.

Intensive platforms should be built with unified standards, technical platforms, security control, and maintenance, for integrated and connected data, services, and application, the circular stated.

The intensive platforms should be able to support management of websites, columns, resources, authorization, content release, interaction, user registration, complaint report, security control, and other functions necessary for government websites and services.

Construction of the pilot platforms should set requirements on information classification, formats, and interfaces, and establish standards on data, for unified resource usage and monitoring, the circular said.

Meanwhile, a unified information and database should be built, featuring scientific classification, collective management, and sharing, with the goal of resource utilization across websites, systems, and levels.

Local government service platforms should be connected with the intensive platform of the region to provide unified and convenient information services for the public.

The platforms should enhance security levels with preferential procurement of domestic hardware and software, and IPv6 will also be supported, the circular stated. Nov.9,2018, from:english.gov.cn
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point.gif (302 bytes) Govt to issue policies easing businesses¡¯ concerns

The State Council released a document on Nov 8 focusing on improving the business environment, urging policies to be accurately carried out regarding easing enterprises¡¯ burdens.

Fairness is highlighted on the list of priorities. A revised negative list must be finished and put into practice by the end of 2018, which will lower the market threshold for social capital in civil aviation, railroad and other areas, and give the green light to more projects that represent public-private partnerships.

A slew of favorable policies to help relieve financing difficulties for medium-sized, small and micro enterprises should be issued and implemented in a timely manner, local protection and administrative monopolies should be eradicated, and government credit must be enhanced, as requested in the document.

Opening-up is set to be increased to a higher level. It is asked that access limitation outside the negative list for foreign investment be canceled before next March. Large-scale foreign investments eligible for major project development plans will receive support such as land and sea-use approval procedures. Quickened custom clearance procedures and export rebates are also urged.

Moreover, cutting red tape in administrative approval must be stepped up, and a unified government service mode should be spread nationwide.

Fees will be reduced in a more extensive way, especially in logistics, certification, inspection and testing and public use sectors. Illegal charges from industry associations, intermediate agencies and institutions under government departments should be stopped, so as to eliminate unreasonable margins for enterprises. The burden of the social insurance rate also needs to be cut down for enterprises.

Meanwhile, protection to intellectual property rights will also be scaled up. The censoring period for trademark registration should be compressed to six months, and regulations over law enforcement in online shopping, export and import should be formulated before the year¡¯s end.

Divisions of responsibility for supervision and organization are made explicit to ensure the policies are thoroughly enacted.
Nov.8,2018, from:english.gov.cn


point.gif (302 bytes) China advances to global top 50 in business climate

China is now one of the top 50 economies in the world for ease of doing business, due to a record number of reforms carried out last year, according to the World Bank Group in its annual doing business report released on Oct 31.

¡°China advanced to a global ranking of 46 this year, up from 78 last year, as the country implemented the largest number of reforms in the East Asia and Pacific region,¡± the report said.

Bert Hofman, World Bank country director for China, said: ¡°China has made rapid progress in improving its business climate for domestic small and medium enterprises in the past year. The progress signals the value the government places on nurturing entrepreneurship and private enterprise.¡±

China¡¯s reforms in areas including cutting administrative red-tape earned the country a spot in this year¡¯s top 10 global improvers, according to the report.

Progress made in the areas of starting a business and getting electricity was particularly impressive.

Since last year, three procedures were removed and consequently it now takes 9 days to start a business, on par with most OECD high-income countries.

¡°Beijing is now one of only two cities in the world where the process of starting a business is completely free. China is now ranked 28 in the area of starting a business,¡± the report said.

Getting an electricity connection is also entirely free in China. Japan and the United Arab Emirates are the only two other countries in the world to have this distinction. As a result, China has earned a global rank of 14 in the area of getting electricity.

China also remains one of the best economies in the world to resolve a commercial dispute. It takes 496 days and costs 16 percent of the value of the claim, far better than the OECD high-income average of 582 days and 21 percent.

Despite progress made since last year, China still has room for improvement in terms of dealing with construction permits, with a global rank of 121 in the area. Nov.01,2018, from:english.gov.cn

point.gif (302 bytes) Premier Li underlines China-Japan relations
Premier Li Keqiang held a talk with the visiting Japanese Prime Minister Shinzo Abe in Beijing on Oct 26.

Premier Li said China and Japan are important neighbors, so developing a long-term healthy and stable relationship is in accordance with the benefits of the two countries and its people, and also has huge significance to the region and the international community. China attaches great importance to bilateral relations and President Xi Jinping will also meet with the prime minister soon, he said.

On the basis of four political documents between the two countries, including China-Japan Treaty of Peace and Friendship and Sino-Japanese Joint Statement, China is glad to join hands with Japan to promote the new development on back-on-track bilateral relations and will try to achieve further development, said the Premier.

He said Prime Minister Shinzo Abe has expressed positive views many times toward Sino-Japan relations, so he hopes the two countries could cherish and secure the positive trend in bilateral ties, strengthen sound interactions, manage historical issues, Taiwan question and East China Sea issue to promote the continuous improvement of bilateral relations.

China is also willing to carry out dialogues with Japan in political and economic fields, strengthen policy connection and coordination, deepen cooperation in tech innovation, energy saving and green development, medical field and senior care, finance, disaster prevention and agriculture, making the third-party market a new pillar for the pragmatic cooperation of the two countries, said the Premier.

He called for boosting the establishment of related projects as soon as possible through well-organized dialogues on innovation. Premier Li also urged the two sides to open the direct liaison hotline under the China-Japan maritime and air liaison mechanism, increase the communication between maritime law-enforcement institutions, making East China Sea a place of peace, cooperation and friendliness.

Efforts should also be made to promote the cooperation on judicial law-enforcement, exchanges on teenagers, sports and local fields, and effective measures to facilitate the exchanges of people in the two countries, he added.

Under the current international background, China and Japan, as major economies of the world, should jointly safeguard multilateralism and free trade and promote the establishment of an open world economy, said the Premier.

Efforts should be made to accelerate negotiations on China-Japan-ROK free trade zone and the Regional Comprehensive Economic Partnership (RCEP) to facilitate regional trade and investment.

Abe said, Premier Li¡¯s visit to Japan this May has brought bilateral ties back to normal, which should be taken as a chance to start a new era of China-Japan ties, featuring cooperation instead of competition.

China and Japan are important neighbors and strategic partners without threats for each other, he said, adding that China¡¯s development is an important opportunity for Japan.

Japan is willing to strengthen high-level exchanges with China and expand cooperation in the fields, such as economy and trade, investment, finance, innovation, third-party market, teenagers, sports, and regional cooperation on the basis of the four political documents between the two sides, Abe said.

Cooperation between China and Japan is the current trend, and is helpful to solve common concerns facing the whole world said the prime minister.

The two sides should work hard to promote the RCEP negotiation to achieve practical results, enhance the establishment of free and fair international economic order and contribute to free trade and world economic development.

During the meeting, both sides also exchanged ideas on international and regional issues of common concerns.

After the meeting, the two prime ministers witnessed the signing of cooperation agreements on politics, innovation, finance, customs, and sports.

Before the meeting, Premier Li held a welcome ceremony for Abe at the Great Hall of the People.

State Councilor and Foreign Minister Wang Yi, Vice-Chairman of Chinese People¡¯s Political Consultative Conference (CPPCC) Yang Chuantang, and CPPCC Vice-Chairman and Head of the National Development and Reform Commission He Lifeng attended the meeting. Oct.27,2018, from:english.gov.cn
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point.gif (302 bytes) More enabling business environment to be created

The government will do more to resolve the concerns of businesses identified during State Council inspection tours, ensure full delivery of all pro-business policies and build a national Internet Plus regulation system to make government regulation smarter, more standardized and better targeted, the State Council decided during an executive meeting chaired by Premier Li Keqiang on Oct 22.

The government places high importance on improving the business environment. President Xi Jinping stressed the need to improve the investment and market environment, cut the cost of market operations and foster a stable, fair, transparent and predictable business environment. Premier Li pointed out that it is critical to deepen the reform of government functions for notable improvement in the business environment to improve market exceptions and boost market confidence.

¡°We need to foster a market-driven, law-based business environment that meets international standards,¡± Premier Li said. ¡°The reform of government functions in the past several years has delivered real benefits to market entities. The international community also regards the improvement of our business environment as an important condition for cooperation with China.¡±

The government must redouble its efforts for a more enabling business environment by resolving the pressing concerns of businesses, delivering on all policy incentives and eliminating the obstacles to business development to bolster corporate confidence and competitiveness, those at the meeting decided.

Market access restrictions on private investors will be further eased. An updated version of the market access negative list will be released and fully implemented by the end of the year. All market access restrictions on foreign investors that are not on the negative list will be eliminated by next March, creating a level playing field for investors from both home and abroad.

The number of items subject to government approval will be cut. All existing items requiring government approval will be thoroughly reviewed, and a list of administrative review items will be released by the end of next March when any administrative review conducted outside the list¡¯s purview will be seen as a breach of regulation.

The reviewing procedures for corporate investment will be further streamlined. Measures for reforming the process of business registration cancellation will be formulated by the end of the year.

The meeting also urged reducing the tax and fee burden on enterprises, as well as their social security contribution rate. More concrete measures shall be formulated in these respects.

The government must enhance the efficacy of its services. These services must be standardized. The items subject to administrative penalty will be streamlined and measures to regulate the exercise of discretion will be formulated. No arbitrariness or a one-size-fits-all approach will be allowed in law enforcement.

¡°There is a direct linkage between the state of a business environment and efforts of the government,¡± Premier Li said. ¡°It is important that the government works out a law-based list of items subject to government approval. Issuance of a business license and that of administrative permits must be decoupled.¡±

To improve compliance oversight and build on the regulatory approach of random selection of inspectors and market entities to be inspected, as well as public release of the inspection results, it was decided at the meeting that an Internet Plus regulation system will be established based on the national government service platform.

This will enhance oversight of the regulatory work of local authorities and government departments, and help forestall and detect lurking problems and cross-sectoral, inter-regional risks by pooling and sharing information. This system will be uploaded online with the national government service platform by the end of next September.

¡°We must lose no time in building a ¡®nerve center¡¯ for government regulation, and the Internet Plus approach is a good way to start,¡± Premier Li said. ¡°Given the uneven regulatory capacities across regions and departments and lack of information sharing, the key to a successful Internet Plus regulation platform is to ensure that all information is shared and open to the public. This will help level the playing field for all businesses.¡±  Oct.24,2018, from:english.gov.cn
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point.gif (302 bytes) State Council adjusts leadership of openness in government affairs group

The national leading group for openness in government affairs is to be reshuffled, according to a circular released by the State Council on Oct 17.

State Councilor and Secretary General of the State Council Xiao Jie will become the group leader, and Deputy Secretary General of the State Council Peng Shujie will become the deputy head.

Deputy Director of the State Council Information Office Guo Weimin and 18 other officers from different ministries will become members of the group.

The office for the leading group is located in the General Office of the State Council, which will undertake the daily work, make policy suggestions for promoting openness in government, and implement decisions made by the leading group.

Any changes in membership need approval from the group leader, the circular said.

(Oct.018,2018)
  from:english.gov.cn
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point.gif (302 bytes) Govt approves Hainan Free Trade Pilot Zone

A free trade pilot zone in Hainan was approved by the State Council in a circular released on Oct 16.

According to the circular, the pilot zone will cover the whole island of Hainan.

It also said the development and utilization of the land and sea area must strictly abide by national laws and regulations, as well as the integrated plan of Hainan province.

While intensively using the land and sea, uninhabited islands should be used in strict accordance with the Law of the People¡¯s Republic of China on Protection of Islands, it said.

The scope of special customs oversight areas and the application of taxation policies in Hainan Free Trade Zone will remain unchanged.

The Hainan provincial government, the Ministry of Commerce and other related departments should carry out the organization and implementation of the overall plan, the circular added.
(Oct.016,2018)  from:english.gov.cn
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point.gif (302 bytes) Zhao Changfu meets with guests attending the 2018 national conference on private enterprise cooperation
Wu Shaowei attended the meeting.
Last night, Zhao Changfu, secretary of CPC Yingkou committee and director of the standing committee of the municipal people's congress, met with guests from China association for individual investors and the state administration of market supervision who attended the 2018 national conference on private enterprises cooperation held in Yingkou.
(Oct.11,2018)


point.gif (302 bytes) Yu Gongbin meets with entrepreneurs attending the 2018 national conference on private enterprise cooperation
Yesterday afternoon, mayor Yu Gongbin met with entrepreneurs attending the 2018 national conference on private enterprises cooperation.
(Oct.011,2018)

point.gif (302 bytes) Yingkou Beihai Economic Development Zone held a special promotion meeting for health care in Beijing

From September 25 to 29, the provincial government launched a series of activities to promote investment promotion week in Beijing, during the time Beihai Economic Development Zone of Yingkou, in combination with its own industrial development reality, held a special promotion meeting for "keeping good health in North East China " in the afternoon of September 26 at Liaoning Building in Beijing.
Vice mayor Weng yongcai attended the meeting and made a comprehensive introduction on city's the urban construction, development of medical and health industry advantages and business environment.
(Oct.08,2018)

point.gif (302 bytes) China to introduce more measures to facilitate foreign investment

The Chinese government will roll out more measures to facilitate the delivery of major foreign-invested projects, lower tariffs on some imported goods and streamline customs clearance procedures at a faster pace, in an effort to expand opening-up and foster a fairer, more convenient and more enabling environment for foreign investment, it was decided at the State Council executive meeting presided over by Premier Li Keqiang on Sept 26.

The Chinese government places great importance on foreign investment facilitation. President Xi Jinping has underscored China¡¯s firm commitment to pursuing the fundamental national policy of opening-up, promoting high-standard investment, protecting lawful rights and interests of foreign investors, and fostering a more attractive investment environment. Meanwhile, Premier Li Keqiang has emphasized on many occasions the pledge to widen market access, give equal treatment to Chinese and foreign companies, more effectively protect intellectual property rights, and better facilitate foreign investments in China.

It was decided at the meeting on Sept 26 that an online filing process will be introduced in regulating foreign investment in China. Unified market access criteria will be applied to both Chinese and foreign investment in areas outside of the negative list. Large-scale foreign investments eligible for major project development plans will receive support on land and sea-use approval procedures, and accelerated environmental impact assessment and their logistic costs will be reduced.

More areas will be open to foreign investment. The withholding tax deferral policy for reinvestment by foreign investors in China will be expanded from the designated encouraged projects to any areas and projects that are not prohibited. The meeting also called for intensified protection of intellectual property rights.

¡°This year marks the 40th anniversary of reform and opening-up in China. Given the evolving situation at home and abroad, it is important to firmly commit to fostering a greater opening-up and attracting foreign investment to help anchor market expectations,¡± Premier Li said.

Statistics from the Ministry of Commerce show that paid-in foreign investment reached $86.5 billion between January and August 2018, a 6.1 percent increase year-on-year.

More steps were approved at the meeting to cater to diverse consumer needs and facilitate industrial upgrading. Starting from Nov 1 this year, import tariffs on a total of 1,585 tax items will be slashed. The average tariff rate for high-demand products in domestic markets such as machinery and industrial instruments will be cut, from 12.2 percent to 8.8 percent, textile and construction materials from 11.5 percent to 8.4 percent, paper and other resource-based products and primarily processed goods from 6.6 percent to 5.4 percent. Tax brackets will be consolidated for goods in the same or similar categories.

Tariff cuts introduced to date will help reduce corporate and consumer tax burdens by nearly 60 billion yuan and lower China¡¯s overall tariff rate from 9.8 percent last year to 7.5 percent.

More efforts will be made to expedite customs clearance. The meeting decided that by Nov 1 this year, the number of customs clearance documents subject to verification at ports will be reduced from 86 to 48. The list of administrative charges at ports will be released before the end of October. Compliance costs for containers clearing will be reduced by at least $100 by the end of this year.

Overhaul of fees must be completed without delay in order to abolish unreasonable charges and cut compliance costs, Premier Li urged at the meeting.

¡°Competent departments must make concerted efforts to enhance oversight and treat foreign and domestic businesses as equals,¡± he said.
(Sep.28,2018)  from:english.gov.cn
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point.gif (302 bytes) Ten years after first spacewalk, China aims more ambitious space mission

Exactly 10 years ago, Chinese astronaut Zhai Zhigang emerged from the airlock, in space, of Shenzhou-7 spacecraft and became the first Chinese to conduct a spacewalk.

Ten years on from Sept 27, 2008, astronauts at the China Astronaut Research and Training Center have been training hard in a neutral buoyancy pool, a very deep pool used to simulate zero gravity in space, to prove the validity and rationality of China¡¯s future plan for extravehicular missions, and to prepare for future space missions.

China¡¯s current space lab, Tiangong-2, has been in orbit for two years. However, it was designed more as a test bed for technology rather than long-term space station and is set to be decommissioned next year.

China is planning to launch a space station, much larger, with a longer lifespan. Zhai¡¯s spacewalk lasted for 19 minutes and 40 seconds. However, for missions on China¡¯s future space station, the spacewalk will be much more frequent and complex. The Astronaut Center has designed specific training for this.

¡°For our future space station, under our current plan each spacewalk will last for about six hours,¡± said Yin Rui, deputy commander of the astronaut system at the Astronaut Center of China, ¡°This will bring a heavy workload and difficult mission for our astronauts.¡±

So Chinese astronauts are training hard for future missions.

¡°Every maneuver needs to be perfect. We practice each move thousands of times, so that we can complete every maneuver even subconsciously,¡± said Chen Dong, who traveled to space in Shenzhou-11 mission and stayed in Tiangong-2 space lab for a month.

¡°There are margins for error. I mean, spacecraft engineers have left margins for error for us. But we reduce that room intentionally during training.¡±

However, more training means less time for family. China is extremely tough when picking its astronauts, and even more so when training them. Chen trained for six years before his first mission.

¡°One¡¯s time is limited. I think every astronaut has to make sacrifices. I spent very little time with my family during my six-year training,¡± Chen admitted. ¡°My wife had to carry up all the family responsibility. I think families of astronauts are also making sacrifices and their support is also essential to China¡¯s space program.¡±

China¡¯s manned space program has made tremendous progress since the first spacewalk.

In November 2011, unmanned Shenzhou-8 made China¡¯s first space rendezvous and docking with the ¡°target spacecraft¡± Tiangong-1. Less then a year later, Shenzhou-9 made the first manned docking with the same spacecraft.

In June 2013, crews of Shenzhou-10 made a short-term stay on Tiangong-1 and conducted 27 experiments on board. In September 2016, China launched its first space station Tiangong-2 and Shenzhou-11 docked with the space station a month later with astronauts Jing Haipeng and Chen Dong, who lived and conducted experiments aboard the space station for a month.
(Sep.27,2018)  from:english.gov.cn
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point.gif (302 bytes) China to further develop private economy
Premier Li Keqiang received three rounds of applause during his opening speech at the 2018 Summer Davos Forum in Tianjin on Sept 19, especially when he spoke about the private economy.

Premier Li reiterated that China will unswervingly consolidate and develop the public sector of the economy, while encouraging, supporting and guiding the development of the nonpublic sector of the economy.

He also said that China will further implement and improve policies and measures to support the development of the private economy, and eliminate obstacles that hinder that development.

He added that the Chinese government will make more efforts to ease market access for private enterprises.

The Chinese government has taken various measures to ease difficult and costly financing for small and medium-sized enterprises, and most among them are private enterprises, the Premier said, adding that private enterprises not only contribute more than 50 percent to the tax revenue of the country, but also supply China¡¯s largest employment.
(Sep.19,2018)  from:english.gov.cn
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point.gif (302 bytes) Xi calls for strengthening cooperation in Northeast Asia for regional peace, prosperity
President Xi Jinping addresses the plenary session of the fourth Eastern Economic Forum (EEF) held in Vladivostok in Russia¡¯s Far East, on Sept 12, 2018. [Photo/Xinhua]

VLADIVOSTOK ¡ª President Xi Jinping called on countries in Northeast Asia to seize the historical opportunity and conform to the trend of the times to strengthen cooperation in the Russian Far East and Northeast Asia for a better future of the region.

He made the remarks while addressing the plenary session of the fourth Eastern Economic Forum (EEF) in Vladivostok in Russia¡¯s Far East on Sept 12.

¡°Under new circumstances, we should join hands and strengthen cooperation to promote peace, stability, development and prosperity in the region,¡± Xi told the forum, which was also attended by Russian President Vladimir Putin, Mongolian President Khaltmaa Battulga, Japanese Prime Minister Shinzo Abe and Prime Minister of the Republic of Korea Lee Nak-yon.

President Xi Jinping (3rd L, rear) attends the plenary session of the fourth Eastern Economic Forum (EEF), together with Russian President Vladimir Putin, Mongolian President Khaltmaa Battulga, Japanese Prime Minister Shinzo Abe and Prime Minister of the Republic of Korea Lee Nak-yon, in Vladivostok in Russia¡¯s Far East, on Sept 12, 2018. [Photo/Xinhua]

Xi proposed that countries in Northeast Asia should build up mutual trust to safeguard regional peace and tranquility; deepen cooperation to achieve mutually-beneficial and win-win outcomes; learn from each other to consolidate their traditional friendship; and take a long-term perspective to realize integrated and coordinated development.

¡°A harmonious, united and stable Northeast Asia with mutual trust conforms to the interests of all countries and the expectations of the international community, and is also significant for safeguarding multilateralism and promoting a more just and equitable international order,¡± Xi said, noting that the international situation is now undergoing profound and complicated changes with rising power politics, unilateralism and protectionism.

The Chinese president said that the six Northeast Asian countries account for 23 percent of the global population, and their gross domestic product make up 19 percent of the global economy.

As a member of Northeast Asia, China has always upheld the concept of peaceful development to create a harmonious and friendly neighboring environment; participated in regional cooperation in the spirit of mutual respect and in a constructive manner; and endeavored to promote exchanges and dialogues while taking into consideration the concerns of all parties, Xi said.

¡°The Chinese side is willing to continue to work with all other sides to constantly consolidate unity, build up mutual trust, explore effective ways to maintain lasting peace and stability in Northeast Asia, and make unremitting efforts to achieve peace, stability and development in the region,¡± he said.

Xi said the regional countries should actively align their development strategies, strengthen policy communication and coordination, improve cross-border infrastructure connectivity, promote trade and investment liberalization and facilitation, jointly build an open regional economy, and boost sub-regional cooperation to benefit the people in the region.

¡°In this regard, the Chinese side supports the Asian Infrastructure Investment Bank and the Silk Road Fund in playing a greater role by guaranteeing the project fund,¡± he said.

Xi expressed the hope that the regional countries can expand ways of communication, innovate forms of cooperation, and facilitate the exchanges among the people of all age groups.

The President also called on the regional countries to explore new models for coordinated development in Northeast Asia, speed up scientific and technological innovation, foster a resource-saving and environment-friendly industrial pattern and way of life, and jointly tackle the regional environment issues that all countries are facing.
(Sep.14,2018)  from:english.gov.cn

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point.gif (302 bytes) Premier promises level playing field

Premier Li Keqiang promised a level playing field for both domestic and overseas enterprises while meeting with Darren Woods, CEO and chairman of ExxonMobil, in Beijing on Sept 7.

ExxonMobil discussed a $10 billion exclusively funded petrochemical project in South China¡¯s Guangdong province with the Chinese side.
Premier Li said that a thriving two-way investment mode between China and the United States is conducive to both parties, the stable development of the global economy, and growth in international trade. Nations around the globe should join hands to safeguard free and convenient trade, as well as investment.
China is a huge market where investors can get a fair and reasonable return, the Premier added.
ExxonMobil regards this investment as an important step toward its long-term cooperation with China, Woods said, adding that the company appreciates recent moves by the Chinese government in opening-up, business environment optimization and protection of intellectual property rights.
These measures will help China realize its development goals, and provide broad opportunities for ExxonMobil and other foreign enterprises, he said.
¡°The Chinese government will adopt a stricter intellectual property protection system. If foreign companies encounter infringements of intellectual property rights in China, they can complain to relevant departments or to the State Council directly. We will crack down on them according to law with severe punishments,¡± Premier Li assured the foreign guests.
It will protect not only the legitimate rights and interests of foreign-funded enterprises, but also the enthusiastic Chinese science and technology personnel, thus promoting transformation and upgrading of the Chinese economy, the Premier added.

¡°Competition is welcomed and we will grow better from that,¡± Woods responded when learning of the 10 billion-euro investment from BASF Group of Germany to construct a fine chemical integrated base in Zhanjiang, Guangdong province.
Competition creates a fair market, which incubates advanced enterprises, the Premier concluded, saying that it is the responsibility of the Chinese government to provide a level playing field and continuously optimize the business environment for all types of enterprises.
China hopes that US enterprises, including ExxonMobil, will make an active move to expand their investment in this country, and mirror China¡¯s reform and opening-up and development to the world with an objective and fair voice.
China will further deepen reform and expand opening-up, provide more convenience for foreign companies to invest in China, and remain an ideal place for foreign investment, the Premier said.
ExxonMobil is willing to boost China¡¯s manufacturing with world-leading technologies and efficient products, and conduct more long-term cooperation, Woods said, showing confidence in the project.
(Sep.12,2018)  from:english.gov.cn
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point.gif (302 bytes) Inspired by new policy, new energy vehicles on a roll

Workers assemble electric vehicles at a new energy vehicle factory in Zhejiang province. [Photo provided for China Daily]
Both sales and production of new energy vehicles in China continued to rise in the first half of this year, and are expected to sustain the growth momentum during the second half, analysts said.
New energy vehicle sales increased 111.5 percent year-on-year to 412,000 units in the first half, while production rose 94.9 percent to 413,000 units, according to data from the China Association of Automobile Manufacturers.
According to Kou Nannan, senior associate with Bloomberg New Energy Finance¡¯s advanced transport sector, the upsurge in new energy vehicles during the first half reflects the ¡°consumption in advance¡±, a response to Beijing¡¯s gradual reduction of subsidies.
Kou expects the growth rate to be less drastic in the second half. Manufacturers, especially those producing low-end products, are likely to raise prices to avoid death due to decline in government subsidies.
¡°Those making high-end products might maintain their prices as subsidies for this sector have actually increased this year,¡± he said.
Headroom for price cuts has been sufficient for certain new energy vehicles, especially e-buses, as well as cost savings through economies of scale and battery technology improvement.
According to a new policy, subsidies for new energy vehicles with a driving range below 150 kilometers stopped from June 12, while vehicles with a 150 km to 300 km driving range will receive minimal subsidies.
Battery power/weight requirements for receiving subsidies have been also increased from 90 watt-hours/kilogram to 105 wh/kg, according to the new policy released by the Ministry of Finance.
Authorities had said subsidy for new energy vehicles will reduce in phases from 2017 to 2020, with tighter technical requirements.
Industry insiders said the subsidy cut, which is meant to aid the industry¡¯s development in high quality segments and avoid blind expansion, would further boost sales as the sum accounts for only a small percentage of the cars¡¯ price tags.
¡°The new policy will enhance energy density and upgrade the industry,¡± said Cui Dongshu, secretary-general of the China Passenger Car Association.
According to Fitch Ratings, thanks to policies like consumer purchase incentives and license-plate restrictions, China¡¯ new energy vehicle market will expand steadily to meet its sales target of 2 million units by 2020, from around 507,000 in 2016 and 777,000 in 2017.
However, the development of the new energy vehicles for the medium- to long-term market will have to ensure advances in battery technology and charging infrastructure, it said.
China has remained the world¡¯s largest new energy vehicle market for three consecutive years, as the country intensified efforts to encourage the use of such vehicles to ease pressure on the environment by offering tax exemptions and discounts for car purchases.
The government expects annual new energy vehicle output to hit 2 million units in 2020, and sales to make up 20 percent of the overall auto market by 2025.  
(Sep.10,2018)  from:english.gov.cn
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point.gif (302 bytes) From Silk Road to Silk Railroad

With its origins in the Han Dynasty (207 BC-220 AD), the Silk Road was an ancient network of trade routes that extended from China, across Central Asia, as far as Europe.
Historically, the Silk Road was a key link between China and the West. Along with it, not only goods but also ideas were exchanged between the two great civilizations of Rome and China.
However, a trip along the ancient Silk Road was never a romantic journey as the name suggests. While traveling thousands of kilometers, merchants had to contend with extreme climates and terrains as they had to cross snow-capped mountains and vast deserts, among other hardships.
Due to such hardships, it was rare for anyone to undertake the entire journey. Instead, goods would usually be carried by teams of caravans, working in relays.
Time flies, today, the camel caravans have been replaced by trains.
And goods are being shipped at a pace that the ancient merchants could never have imagined.
Two thousand years ago, it would take a year for merchandise to be transported between China and Europe. But today, consumer goods from China can reach London in just 14 days, thanks to the Silk Railroad ¡ª an international freight railway network that connects China to cities across Europe.
A key stop on this network is Yiwu, in East China¡¯s Zhejiang province. Today, the city is one of China¡¯s leading trade hubs.
Until recently, Europe bound goods from Yiwu would take two hours by the road just to reach the nearest seaport in China, followed by a two-month journey across the ocean. Today, Yiwu is thriving, thanks to a direct overland rail connection to Europe ¡ª the Silk Railroad.
One of the destinations is Madrid. The 10,000- kilometer journey from Yiwu, across Kazakhstan, Russia, Belarus, Poland, Germany, France and into Spain, takes 16 days, compared to the six-week journey-time by sea.
The trains, when they return, carry cargoes that include fine Spanish wines and other luxury items that are finding a growing market in China.
The Yiwu-Madrid line and other rail routes that are being established are carrying trade between China and Europe into a new era of connectivity.
(Sep.05,2018)  from:english.gov.cn

point.gif (302 bytes)Medical disputes to be settled legally

Regulation on prevention and settlement of medical disputes, which was passed at the State Council executive meeting on June 20, was recently promulgated.
The regulation is meant to protect the legitimate interests of medical staff and patients by preventing and resolving disputes to maintain order and ensure security in medical care.
It advocates mutual respect in medical treatment and the rule of law in safeguarding rights. Fairness, justice and promptness should be upheld in dealing with medical disputes.
Governments above the county level should enhance leadership in tackling medical disputes, and include it in the governance system of public security. A coordinating mechanism should be established to divide responsibilities among government departments, as required in the regulation.
Medical institutes and their staff are asked to put patients first, giving them humane care. And medical institutes should enhance training on related laws and professional ethics.
When disputes occur, medical staff and patients can pursue the following: negotiating on a voluntary basis, applying for mediation, asking for administrative conciliation, filing a lawsuit with the people¡¯s court and other approaches regulated by the law.
The regulation will be enforced starting on Oct 1, 2018.
(Sep.04,2018)  from:english.gov.cn

point.gif (302 bytes) Premier Li: China to adopt stricter IPR protection system
 
Premier Li Keqiang said China will adopt stricter rules to protect intellectual property rights, during his meeting with Francis Gurry, director general of the World Intellectual Property Organization (WIPO) in Beijing on Aug 28.
Protecting property rights is the cornerstone of the market economy, while protecting intellectual property rights is a prerequisite for innovative development, according to Premier Li.
To protect IPR is to protect innovation and passion of creative talent, which is of great importance to a nation¡¯s development. And developing countries will not achieve transformation without innovation, he said.
As the world¡¯s largest developing country, China is at a critical stage of economic upgrading, said Premier Li, adding that China will adopt a stricter IPR protection system, in which acts of compulsory transfer of and infringement on intellectual property rights will be severely punished.
China rises to 17th in 2018 Global Innovation Index
Gurry presented Premier Li the 2018 Global Innovation Index report released recently by WIPO.
¡°Congratulations to China for moving up another five spots from last year. Since 2013, China¡¯s ranking has moved from 35th to 17th. I believe China will continue its development,¡± Gurry said during the meeting.
¡°We are aware that China is a developing country, with a long way to go to realize modernization. Chinese people are expecting better lives. To meet their demand faster, an important measure is to promote innovation,¡± Premier Li said.
The Premier said that in recent years, China has been implementing an innovation-driven strategy and promoting mass entrepreneurship and innovation. This can help gather wisdom to push forward innovation, while creating a large number of job vacancies. People can start their own businesses through innovation, and also innovate through entrepreneurship.
¡°There is still a big gap between China and developed countries at the moment. We are eager to learn advanced technologies from developed countries. We are also willing to let companies cooperate on paid-transfer of IPR through consultations on an equal footing, based on respect for and protection of IPR as well as commercial and market rules,¡± he said.
(Aug.30,2018)  from:english.gov.cn
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point.gif (302 bytes) Integrated medical reform to be cemented

Reform on medical care, insurance and medicine should be reinforced to relieve the difficulty of receiving treatment, Premier Li Keqiang said in a written instruction to a national teleconference on medical reform in Beijing on Aug 27.
Premier Li said the new round of medical reform has brought significant achievement with Chinese special methods. This is mostly due to contributions by reform participants and medical staff, who have dedicated themselves to carrying out medical reform and protecting the public¡¯s health.
In the new era, tough measures will be taken on the integrated reform of medical care, insurance and medicine, the Premier said. Breakthroughs must be made in reducing extortionate drug prices, deepening reform on public hospitals, improving basic healthcare insurance and the tiered diagnosis and treatment system, as well as developing Internet Plus healthcare.
All these efforts are being made to encourage society to respect healthcare workers and value health, and to build a healthy China, the Premier stressed.
Vice-Premier Sun Chunlan attended the meeting. She noted the current reform needs more efforts to help policies settle in and eliminate any major problems. Sustainable financial input should be given to reform to bring real benefits to the public and incentives to medical staff, then the healthcare cause can welcome prosperity.
Local governments and related departments should coordinate medical care, and insurance and medicine systems to enhance the construction of a basic medical and health system with a focus on addressing the issues, such as unbalanced medical sources and expensive medical treatment, the vice-premier said.
Efforts should be made to accelerate the price reduction of anti-cancer drugs, promote pilot work on national centralized procurement of drugs, and improve basic medicine system to squeeze drug prices and ensure quality and safety.
She also called for further reforms in medical service prices, financial input and salary systems to improve hospital management and performance appraisal, and mobilize the enthusiasm of medical staff.
The vice-premier urged reforming medical insurance payment methods and strengthening comprehensive medical assistance to prevent patients and their families from falling into or returning to poverty due to illnesses.
Allocation of medical resources should be optimized; there should be an improved grassroots talent incentive mechanism covering general practitioners and family doctors, and social forces¡¯ participation in this move should be promoted to provide qualified healthcare services for the general public, according to the vice-premier.
(Aug.28,2018)  from:english.gov.cn


point.gif (302 bytes) Tailored measures to help financing for SMEs

China will improve the transmission mechanism of its monetary and credit policies to ensure full delivery of measures to make financing more accessible and affordable for small and micro businesses, the State Council¡¯s executive meeting chaired by Premier Li Keqiang decided on Aug 22.
The Chinese government attaches great importance to financial services for small and micro businesses. President Xi Jinping stressed that serving the real economy is the central mission of the financial sector and underlined the need for better financial services for micro and small firms. Premier Li Keqiang said that employment and growth prospects hinge on a vibrant micro and small business community. He called for more effective and efficient transmission channels for monetary and credit policies to ensure that all policy incentives targeting SMEs are fully delivered.
¡°There is now a pressing need for the financial sector to serve the real economy, micro and small businesses in particular, as these businesses play a critical role in creating jobs,¡± Premier Li said.
Making financing more accessible and affordable for small and micro businesses has been on the agenda of the State Council¡¯s executive meeting many times since the start of this year. In June, re-lending and rediscount quota for small companies and for agriculture and rural areas was increased by 150 billion yuan ($23.11 billion). Application requirements for such lending facilities were eased, new lending formats were introduced, and the scope of qualified collateral widened. In July, re-lending and rediscounts for small companies and for rural areas rose by 19.1 billion yuan.
¡°There have been some new developments both internally and externally this year, while financing difficulties facing micro and small businesses are acutely felt,¡± Premier Li said. ¡°It is imperative to smooth the transmission mechanism of financial policies and keep our measures well-calibrated to ensure that liquidity remains reasonably ample.¡±
The country will stick with prudent monetary policies and refrain from resorting to a deluge of strong stimulus policies, it was stressed at the meeting. The government will work to improve the transmission mechanism of its monetary and credit policies to ensure full delivery of measures aimed at lowering financing costs for small and micro businesses.
More financing support will be given to small and micro businesses, including setting proper time frames and options for loan payment and shortening the time required for credit approval for small and micro businesses, and increasing the share of mid- and long term loans as appropriate.
An incentive mechanism linking performance assessment of financial institution with the amount of loans they issue to small and micro businesses will be established, and a more accommodating approach will be exercised over the loan-to-deposit ratio of financial institutions to further motivate them to better serve small businesses.
Regulatory and evaluation mechanisms will be improved. An indicator on small and micro businesses loans will be added to the evaluation mechanism. Irregularities such as linking loans with deposits and arbitrarily requiring the purchase of financial products will be resolutely prohibited.
All policy incentives introduced must be implemented to see results delivered as soon as possible, and it is important to give equal emphasis to promoting development and staving off risks and help ensure a better economic performance in the remainder of the year, Premier Li stressed.
(Aug.23,2018)  from:english.gov.cn


point.gif (302 bytes) Inter-ministerial joint conference system on left-behind children established

The State Council recently issued a written reply to the Ministry of Civil Affairs, in which permission was given to establish an inter-ministerial joint conference system on caring for left-behind children and securing the well-being of children in need.
Under the leadership of the State Council, the system will coordinate and conduct overall plans to help children who are either left behind or living with difficulties. That includes formulating related policies and measures, presenting motions to the State Council, organizing and steering daily routine work, and promoting ministerial cooperation.
The conference system consists of wide-ranging ministries and commissions, highlighting the Ministry of Civil Affairs, the political and judiciary commission under the Central Committee of the Communist Party of China, the Office of the Central Cyberspace Affairs Commission, and the National Development and Reform Commission.
Huang Shuxian, the minister of civil affairs, will serve as the convener, with 26 members from other ministries and commissions.
A plenary session will be held once a year, presided over by the convener or anyone entrusted by the convener. A provisional session may be organized if instructed by the State Council or called for by administrative work.
There should be a liaison¡¯s session prior to the plenary session, which should take on the discussions on motions and related matters to be presented to the plenary session. And the latter should have minutes to specify items for discussion. Significant matters should be presented to the State Council.
All member units should take on their fair share in accordance with their respective duties, hinging on organization by the Ministry of Civil Affairs. And the office of the joint conference system should follow up with the implementation of agreed items and report their progress to all related members.
(Aug.22,2018)  from:english.gov.cn
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point.gif (302 bytes) Tax cuts to benefit people far and wide

The State Council has long been introducing tax reduction policies on a consistent basis. These measures have ushered in ample benefits to market entities, as well as citizens, which has helped people save a substantial amount of money.
As Premier Li Keqiang stated at a press conference during the two sessions this year, reduction on taxes and fees is an out-and-out pragmatic reform by the government, which should be pushed forward at full capacity. With less fiscal revenue, more money will be saved for people at large.
According to the report on the final State accounts in 2017, the lump sum of the annual newly-added tax reduction outstripped 380 billion yuan ($55.23 billion).
When it comes to 2018, the figure will be larger than that again for enterprises and citizens. It¡¯s worth noting that there are two milestone dates in the process of realizing the 800 billion yuan tax cuts, May 1 and July 1.
On May 1, the government rolled out a slew of VAT reform policies that benefit both domestic and overseas enterprises, which will effect a 400 billion yuan tax reduction. Logistics enterprises were granted a 50 percent reduction valid from May 1 to Dec 31, 2019 on urban land utilization taxes and import tariffs on 28 drugs, including cancer treatment medication, came into force on May 1.
On July 1, China introduced an average 8.8 percent tax rate decrease on import tariffs for 1,449 taxable items that are daily consumer goods. An average 46 percent tax reduction was enforced on automobile products¡¯ import tariffs and a preferential policy was carried out, benefiting venture capital firms, personal angel investment at the seed stage and technology start-ups with taxable income deduction on 70 percent of the investment volume. A preferential policy was implemented catering to scientific and technical personnel, for whom only 50 percent of the cash bonus translated from professional technology achievements is subject to individual income tax payment. A 50 percent reduction on the vehicle purchase tax was put into effect for trailer purchasers, which remains valid until June 30, 2021.
Additionally, a draft of the amendment to the Law on Personal Income Tax was presented to the Standing Committee of the National People¡¯s Congress on June 19 for discussion. The amendment proposed raising the threshold of individual income tax from 3,500 yuan to 5,000 yuan per month. In addition, expenses on children¡¯s education, further education and medical treatment for serious diseases, house loan interest, and house rents and the like will be deducted for the very first time.
(Aug.14,2018)  from:english.gov.cn


point.gif (302 bytes) Measures end unnecessary certificates

T
he Chinese government has rolled out measures with a clear timetable to end unnecessary certificates, or certificates with no legal basis, to bring convenience to citizens and enterprises in handling government-related affairs, according to a circular issued by the State Council in June.
It came after an announcement on relaxing market entry made by Premier Li Keqiang during the news conference for the first session of the 13th National People¡¯s Congress in March.
The circular urged departments and local governments to study and offer advice on canceling or reserving certificates item by item, and remove certificates no later than the end of 2018, to ensure any license without a legal foundation will be canceled.
For necessary certificates, a list of their legal bases, issuing departments and process guidance should be published, and any government organ is banned from creating certificates beyond the list, according to the circular.
Any government unit issuing unnecessary certificates or raising requirements should be investigated, and those who cause adverse social impact should be held accountable.
Also, the circular stressed enhancing technical support for information sharing among and within government departments, to thoroughly address the problem.
(Aug.14,2018)  from:english.gov.cn
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point.gif (302 bytes) State Council vows to cut red tape via better e-services

The State Council has vowed to cut red tape by building a better national e-government service platform and integrating online and offline service, according to a notice issued in June.
A unified identity authentication system will be adopted for online government services across the country.
E-government services will be extended to Weibo, WeChat and the app platform. State Council departments are encouraged to connect to the State Council app.
According to the notice, by the end of 2019, 90 percent of government services at the provincial level should be accessible online, and 70 percent of municipal government services should be online.
On-site paperwork will be reduced and put online, such as registration and making appointments.
On June 11, a complaint platform was opened at the State Council website. People can use it to report any inconveniences in government services.
Premier Li Keqiang also asked the State Council General Office to launch inspections for the implementation of a red-tape cutting campaign.
During the two sessions in 2018, the Premier pledged to ease market access through a slew of measures, including cutting the approval process for starting a business, reducing permitting time for construction project, and building a better e-government.
(Aug.11,2018)  from:english.gov.cn
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point.gif (302 bytes) Lives improved since Government Work Report issued

Since the Government Work Report was released in March, many promises in the report have been fulfilled. Social-economic indicators are as expected.
Projected annual GDP growth rate: 6.5 percent
Actual GDP growth rate in first half: 6.8 percent
Projected rise in CPI: 3 percent
Actual half-year rise in CPI: 2 percent
Projected new jobs in 2018: 11 million
Actual new jobs created in first half: 7.5 million, or 68 percent of projected number
Projected urban unemployment rate in 2018: below 5.5 percent
Actual urban unemployment rate: 4.8 percent; the number is below 5 percent for three months in a row
Cancel data traffic roaming charges
From July 1, domestic data roaming charges were canceled. Provincial data were upgraded to domestic data, excluding Hong Kong, Macao and Taiwan.
Raise personal income tax threshold, and add expense deduction items for children¡¯s education and treatment for serious diseases
In the draft amendment for personal income tax law, the personal income tax threshold will be raised to 5,000 yuan a month, with expense deductions for items such as children¡¯s education and treatment for serious diseases, home loan interest and home rent. The draft has been submitted for review by the standing committee of the National People¡¯s Congress.
Lower import tariffs on automobiles, some everyday consumer goods
From July 1, import tariffs on automobiles and their parts were reduced, as well as most-favored-nation tax rates on some everyday consumer goods.
Continue raising basic pension for rural and nonworking urban residents
Minimum monthly pension for rural and nonworking urban residents was raised from 70 yuan per person to 88 yuan.
Establish central adjustment system for employees¡¯ basic pension funds to be used inter-provincially
From July 1, the central adjustment system for employees¡¯ basic pension funds to be used inter-provincially was launched.
(Aug.03,2018)  from:english.gov.cn
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point.gif (302 bytes) China gets tough on forex violations

BEIJING ¡ª China¡¯s foreign exchange regulator dealt with 1,354 forex-related violation cases in the first half of this year, up 19.7 percent year-on-year, an official statement said on July 24.
The State Administration of Foreign Exchange said in an online statement that it fined and confiscated a total of 345 million yuan ($50.8 million), nearly 60 percent higher than the same period last year.
Among those cases, 559 were committed by individuals, 455 by financial institutions, while the rest were by enterprises.
The regulator has stepped up inspections of financial institutions to ensure a healthy and orderly forex market.
The administration said it would continue to crack down on market irregularities such as fraud and underground bank cases to safeguard economic and financial security.
 (July 25,2018)  from:english.gov.cn
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point.gif (302 bytes) Fiscal, financial policies to bolster real economy
China will continue with stable macro policies and adopt a combination of fiscal and financial measures in an effort to boost domestic demand and bolster support for real economy, the State Council¡¯s executive meeting chaired by Premier Li Keqiang decided on July 23.
The government will give targeted and well-timed regulation in face of external uncertainties and maintain that economy performs within a reasonable range, adding that it will firmly refrain from resorting to a deluge of strong stimulus policies, the meeting announced.
The Chinese government puts developing the real economy high on its agenda. President Xi Jinping underlined the importance of improving the fiscal spending structure by prioritizing funding in key areas and projects. In this year¡¯s Government Work Report, Premier Li Keqiang stressed the need to focus on the real economy and leverage the proactive fiscal policy to tackle the financing difficulties facing small and micro businesses.
In the first half of 2018, the government made tremendous efforts to cut costs for the real economy, including by maintaining robust public spending and scaling up tax and fee cuts. The government also introduced tax incentives and other measures to make financing more accessible and affordable for small and micro enterprises.
The meeting agreed that a more proactive fiscal policy will be pursued. The government will focus on introducing deeper tax and nontax fee cuts, and more companies will be eligible for the preferential policies of the additional deduction of R & D spending in taxable income, a policy which is expected to cut another 65 billion yuan of tax within this year on top of an initial goal of cutting taxes and fees by 1.1 trillion yuan this year.
Efforts will be stepped up in issuing the 1.35 trillion yuan of special bonds for local government to see more tangible progress on ongoing infrastructure projects.
Prudent monetary policy will be neither too tight nor too loose, and aggregate financing and liquidity will remain sufficient, the meeting announced. A better and smoother transmission mechanism is needed to see credit policy incentives effectively introduced and delivered. Financial institutions will also be called on to use the money released from cuts in their required reserves to support small and micro businesses and debt-to-equity swap.
The government will step up efforts to ensure delivery of the state financing guarantee fund, targeting at 140 billion yuan of loans for about 150,000 small and micro firms each year.
Solid implementation is urged of the re-lending policy targeting small businesses. Commercial banks will also be encouraged to issue financial bonds to these businesses with the bond issuers exempted from the requirement of continuous profit-making.
Local authorities that have made visible progress in expanding financing guarantee and reducing costs for small businesses will be meaningfully rewarded.
At the same time, the government will resolutely phase out the ¡°zombie¡± companies to free up their underused funding, and crack down on illegal financial institutions and activities to forestall risks.
¡°Any financial and fiscal policy measure must be considered in a broader context and all measures be well synergized and fully delivered to reduce costs for businesses in the real economy and sustain the sound momentum of growth through the latter half of the year,¡± Premier Li stressed.  
(July 24,2018)  from:english.gov.cn
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point.gif (302 bytes) China¡¯s GDP grows 6.8% in H1

BEIJING ¡ª China¡¯s gross domestic product expanded 6.8 percent year on year in the first half of 2018 to about 41.90 trillion yuan ($6.27 trillion), data from the National Bureau of Statistics (NBS) showed on July 16.
The pace was well above the government¡¯s annual growth target of around 6.5 percent.
In Q2, China¡¯s GDP rose by 6.7 percent year on year, slightly lower than the 6.8 percent from the previous quarter but representing the 12th straight quarter that GDP growth rate has stayed within the range of 6.7 to 6.9 percent, according to NBS data.
China¡¯s economy expanded 6.9 percent in 2017, picking up the pace for the first time in seven years.
NBS spokesman Mao Shengyong told a press conference that the Chinese economy has been running soundly in the first six months, offering ¡°a good start¡± for the country¡¯s pursuit of high-quality development with further restructuring progress and improved economic quality and efficiency.
The service sector expanded 7.6 percent year on year in H1, outpacing a 3.2-percent increase in primary industry and 6.1 percent in secondary industry, according to NBS.
Consumption continued to play a more prominent role in driving growth, with final consumption contributing to 78.5 percent of the economic expansion in January-June, up from 77.8 percent in Q1 and 58.8 percent last year.
The domestic job market remained stable in June, with the surveyed unemployment rate in urban areas at 4.8 percent, unchanged from the level in May and down 0.1 percentage point from June last year.
China¡¯s energy consumed per unit of GDP declined 3.2 percent year-on-year in H1, exceeding the initial target of having energy consumption per unit of GDP cut by at least 3 percent in 2018.
However, noting increasing external uncertainties and the fact that China is still going through a critical stage in structural adjustment, Mao said the country would stick to the supply-side structural reform and coordinate efforts to ensure stable and sound economic performance.
Commenting on China-US trade frictions, Mao said its impact, if any, would have been limited on the Chinese economy in H1, and requires further observation to judge the potential impact on the economy in H2.
With the global economy deeply integrated, the trade frictions, unilaterally stirred up by the United States, would ¡°affect the global economic recovery and sustainability of global trade growth,¡± he told reporters.
For the rest of the year, Mao said China¡¯s economy would stay sound and stable as domestic demand is now the deciding force behind economic growth. He expects consumption to continue its upward trend, and investment to remain stable.
He said while external demand remains an important factor in growth, despite China¡¯s challenges in foreign trade in H2, there are still favorable conditions to support stable and relatively fast trade growth. (July 17,2018)
from: english.gov.cn
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point.gif (302 bytes) Air pollution prevention group revamped
The State Council released a circular on July 3, stating a prior collaboration group on air pollution prevention in Beijing, Tianjin, North China¡¯s Hebei province, and adjacent regions will be readjusted and renamed a leading group on air prevention instead.
According to the circular, the newly established leading group will be in charge of implementation of policies on air contamination, joint control of air pollution, overall planning and supervision on pressing matters and research on measures improving regional air quality.
The leading group will be helmed by Vice-Premier Han Zheng and flanked by four deputy heads ¡ª Li Ganjie, minister of ecology and environment, Chen Jining, mayor of Beijing, Zhang Guoqing, mayor of Tianjin, and Xu Qin, governor of Hebei province.
The new lineup also includes other members from ministries and provincial regions, and its steering office will be at the Ministry of Ecology and Environment.
(July 13,2018)  from: english.gov.cn

point.gif (302 bytes) China to solidify strong employment momentum
The Chinese government will take concrete measures to boost and expand employment, focusing on college graduates, veterans, laid-off and relocated workers, it was decided at the State Council¡¯s executive meeting chaired by Premier Li Keqiang on July 4.
¡°Maintaining steady employment is of primary importance for China¡¯s economic development and is the foremost livelihood issue,¡± Premier Li said. ¡°With the economy looking up in recent years, employment has expanded steadily. Nevertheless, employment must stay high on the government agenda for steady creation of new jobs and improvement in the employment structure.¡±
New urban employment has been running at a high level in recent years. According to the Ministry of Human Resources and Social Security, 6.13 million urban jobs were added between January and May this year, an increase of 140,000 from last year, hitting a new record.
It was emphasized at the July 4 meeting that considering the challenges and uncertainties China still faces on the employment front, government departments at all levels must remain focused on their employment tasks and take multi-pronged measures to fulfill them.
The government will closely monitor the employment situation in key regions and among major groups, and make targeted plans to forestall potential problems.
The reform to transform government functions will be deepened to improve the business environment and ease corporate burdens. Policy incentives will be introduced to encourage companies to keep their payrolls stable.
Better and more targeted services will be provided under the program to upgrade the nationwide initiative of business startup and innovation. More measures will be taken to support flexible employment and job creation in new forms of industries and the services sector to help more market entities survive and thrive.
Priority will be given to the employment of college graduates, veterans and laid-off workers. Vocational training will be intensified to better equip these groups for job seeking. And migrant workers will receive better services in landing jobs and starting their own businesses.
Local governments were urged at the July 4 meeting to earnestly fulfill their employment responsibilities as a top priority and pool efforts of all stakeholders to boost employment.
¡°No jobs means no wealth creation and possibly less social stability,¡± Premier Li said. ¡°All government departments must live up to their responsibility and make employment plans for the remainder of this year and next. No one should take this issue lightly.¡±
In his Government Work Report in March, Premier Li made it clear that the government will work to create over 11 million new urban jobs and keep the surveyed urban unemployment rate within 5.5 percent in 2018.
He stressed at the July 4 meeting that institutional transaction costs should be further reduced to cut labor costs and lighten corporate burdens, to enable them to hire more and boost economic growth.
¡°A multi-pronged approach will be adopted to push entrepreneurship and innovation across the country. Efforts will be made to expand the channels and opportunities for flexible employment, and priority groups, including college graduates, veterans and laid-off workers, will receive more employment guidance, training and support,¡± Premier Li said.
(July 05,2018)  from: english.gov.cn
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point.gif (302 bytes) China steps up efforts to promote trade
2018 marks the 40th anniversary of the start to China¡¯s reform and opening-up policy. China is stepping up its game in promoting trade this year as it marks the occasion.
40 years have passed since China extended open arms to international trade and investment and dedicated itself to creating a positive business environment for companies from around the world.
WANG TINGTING, GREATER CHINA VICE-PRESIDENT DECATHLON ¡°We can see that China still provides huge business opportunities for foreign investments. The market potential is still huge.¡±
China has been one of the most attractive markets for multinationals for four decades. Foreign firms now contribute 50 percent of all imports and exports, 25 percent of industrial output and 20 percent of China¡¯s tax revenues. This country has become the largest overseas market for many global fortune 500 companies.
RACHEL DUAN, PRESIDENT & CEO GE CHINA ¡°GE actually has been in China for 100 years. But obviously our fastest growth has been the last three decades. So we have been here since the very beginning of the China opening door policy and economic reform. We benefitted from it a lot.¡±
YANG CHENGXI SHANGHAI ¡°The first China International Import Expo will be held in Shanghai during the 40th anniversary year of China¡¯s reform and opening-up. The government sees the expo as one of its most important global events in 2018.¡±
Over one thousand firms from more than 120 countries say they will attend the November expo. Among them are nearly 100 global fortune 500 companies, including L¡¯Oreal, the world¡¯s largest cosmetics conglomerate.
JEAN-PAUL AGON, CHAIRMAN & CEO L¡¯OREAL ¡°L¡¯Oreal China is growing very fast. It¡¯s developing very well. We have been very successful, we have been here for 20 years.¡±
The Ministry of Commerce says China will import over $10 trillion worth of goods and services during the next five years. The ministry also says that the upcoming China International Import Expo will be a symbol of the vast potential in the Chinese market.
(July 05,2018)  from: english.gov.cn



point.gif (302 bytes) Premier Li envisions closer cooperation with CEE countries
SOFIA ¡ª Premier Li Keqiang on July 4 wrote a signed article entitled ¡°New Beginning, New Vision and New Journey¡± for mainstream Bulgarian newspapers, 24 Chasa and Standard, prior to his official visit to Bulgaria and the seventh Summit of Heads of Government of China and Central and Eastern European Countries (CEEC).
Premier Li began his article by expressing delight in visiting Bulgaria and attending the seventh China-CEEC Summit in Sofia. This is the first visit by a Chinese premier in 18 years, and the first stop of his first visit to Europe after the formation of the new Chinese government. The visit aims to inject new impetus to the growth of China-Bulgaria relations and China-CEEC (16+1) cooperation.
According to the article, China will enhance complementarity between the Belt and Road Initiative and Bulgaria¡¯s development strategy, and encourage more Chinese companies competitive in equipment and engineering to invest in Bulgaria and get actively involved in infrastructure projects tailored to local needs. The two sides will work together to promote balanced growth of bilateral trade, and provide greater convenience for mutual visits and tourism. They will also strengthen exchanges in culture and education, between the youth and at the sub-national levels, to keep the tree of friendship well-nourished and evergreen.
Premier Li pointed out that China and the CEE countries are at similar levels of development and are all committed to common development through closer cooperation based on complementarity. Both sides are in the process of economic transformation and upgrading. 16+1 cooperation is results-oriented and guided by the principles of mutual respect, equality and noninterference in internal affairs. Such cooperation has no political strings attached.
The two sides will pursue win-win outcomes and form greater synergy between their respective development strategies and needs by working out a medium-to-long-term plan of cooperation and promoting more balanced and sustainable growth of two-way trade and investment. They are committed to an open and inclusive 16+1 cooperation rather than making it a closed or exclusive club. They will continue to conduct cooperation within the framework of relevant EU laws and regulations and according to the principle of openness and transparency. China is ready to enhance communication with the EU and welcomes discussions on cooperation in third-party markets.
The Premier stressed that China remains a supporter of European integration and hopes to see a united, stable, open and prosperous EU and a strong euro. As an important part and useful complement to China-Europe relations, 16+1 cooperation will help narrow the development gaps within Europe, promote balanced development between the East and the West, and instill new vitality into the all-round cooperation between China and Europe.
(July 05,2018)  from: english.gov.cn
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point.gif (302 bytes) State Council releases white paper on China and WTO

The State Council Information Office has released a white paper on China and the World Trade Organization (WTO). The document is a summary of China¡¯s achievements, contributions and commitments to the WTO.
The ¡°China and the World Trade Organization¡± White Paper is divided into four parts. Each part focuses on an important aspect regarding China¡¯s 17-year contribution to the WTO.
China joined the WTO as its 143rd member on Dec 11, 2001. Since then, the country has conscientiously fulfilled its WTO commitments and brought benefits not only to the country¡¯s people, but also for the rest of the world, the White Paper said.
China has been consistently reforming in order to develop a socialist market economy and has rigorously improved its legal system.
According to the White Paper, the government modified more than 2,300 national laws and regulations to adapt to WTO commitments, while localities modified or canceled 190,000 related local laws and regulations, to improve policy transparency and ensure conformity with WTO rules.
¡°By 2010, China had fulfilled its tariff-cutting promises for WTO membership by cutting overall tariff levels from 15.3 percent to 9.8 percent by 2010.¡±
China has also honored its commitments on trade-in-services, by opening up its markets and slashing investment restrictions. China has also enhanced intellectual property right protection. It has set up IPR courts in Beijing, Shanghai and Guangzhou and special judicial organs at 15 intermediate courts.
China is a staunch supporter of the multilateral trading system and has taken concrete actions to uphold its integrity.
It has safeguarded the effective operation of the WTO dispute-settlement-mechanism and has properly handled trade disputes with other members. It has been actively participating in trade policy reviews. It has called upon the WTO to focus more on the concerns of developing member countries. China also stands firmly against unilateralism and protectionism.
China has embraced the world with open arms and has made significant contributions to the global economy since it joined the WTO.
Since 2002, China¡¯s contribution to global economic growth has approached 30 percent on average. It¡¯s a major trading partner of over 120 countries. The Belt and Road Initiative is China¡¯s latest move to share its economic development with the world.
China will hold the annual International Import Expo from Nov 5 to 10 this year in Shanghai and is seeking to buy more goods from the world and boost consumption. The expo will further increase access to China¡¯s burgeoning domestic market.
China will take measures this year to solicit more foreign investment, the White Paper said.
¡°The country will greatly relax market access, facilitate investment with better services and encourage foreign capital into more regions ¡­ the negative list approach to market entry, which states sectors and businesses that are off limits to foreign investment, will be expanded nationwide.¡±
Looking ahead, China is willing to work hand-in-hand with its trading partners to make globalization more open and inclusive, the White Paper said.
(June 29,2018)  from: english.gov.cn
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point.gif (302 bytes)Reform of government services to be directed by plan

To give more convenience to enterprises and citizens, the State Council approved a plan to boost Internet Plus administrative services, according to a circular released on June 22.
The move is expected to construct an online administrative service system that integrates data from different regions, government departments and application items, with which enterprises and citizens can obtain one-stop service by logging onto one website or visiting one service hall.
By the end of 2018, preliminary effects are set to be achieved, and successful experiences in advanced areas will be expanded nationwide.
By the end of 2019, the reform on application items in key fields and items frequently applied should be completed.
A national government service platform should be built to work as a hub providing access to the service platforms of all departments and regions nationwide. The data, as well as the real name authentication of people, are shared across these platforms, making it easier for people conducting business on different platforms.
Governments at different levels should improve and constantly update their data resources, and make them widely shared across different service platforms.
Except for special circumstances, all service items should be processed online following certain standards of the national public service platform.
Mobile applications are encouraged to provide the services.
For offline services, provinces, cities, counties and towns should build or improve their service halls, using data from online platforms to facilitate the process, allowing all application items to be conducted in just one place.
Application items that must be conducted offline should be clearly listed, with processes streamlined and unnecessary materials trimmed. Public services are supported to be available in lower level regions, to strive for ¡°one-stop services¡± for people.
The service platforms should also serve market regulation by monitoring and analyzing big data from the market.
Meanwhile, security on the service platforms will be enhanced to better protect privacy.
Regulations that are not accommodated for developing Internet Plus administrative services should be amended or abolished.
Public supervision is welcomed in public services. The State Council¡¯s and local governments¡¯ websites and service platforms at all levels should open hotlines for people¡¯s consultation or complaints.
(June26,2018) from: english.gov.cn

point.gif (302 bytes) State Council approves establishment of Chinese Farmers¡¯ Harvest Festival

The State Council has approved setting up the Chinese Farmers¡¯ Harvest Festival, in a reply to the Ministry of Agriculture and Rural Affairs.
It decided to make the annual Autumn Equinox, the 16th solar term of the year on the Chinese lunar calendar, as a day to celebrate the harvest, and authorized the ministry to work out details with other related departments.
(June22,2018)  from: english.gov.cn

point.gif (302 bytes) China to promote utilization of foreign investment

The State Council released on June 15 a circular on measures to effectively utilize foreign investment and promote high-quality development of the economy.
The steps include lowering market threshold, deepening administrative reform, promoting high-quality investment, creating a high-standard business environment, optimizing investment layout, and enhancing the role of national development zones, according to the circular.
To ease market access in a large scale, the nationwide practice of pre-establishment national treatment and negative list on foreign investment will be improved.
The special administrative measures on foreign investment nationwide and in free trade pilot zones, known as ¡°negative list¡±, will be revised and published before July 1, 2018, aiming to enhance opening-up in an all-around way.
The circular also stressed further opening-up in the financial sector, services sector and sectors such as agriculture, mining and manufacturing.
It called for efforts to ease restrictions on setting up foreign financial institutions, revise regulations related to Qualified Foreign Institutional Investors (QFII) and RMB Qualified Foreign Institutional Investors (RQFII), develop the market of crude oil futures, and attract overseas trader in iron ore futures trading.
The administrative reform will be deepened for foreign investment facilitation, according to the circular. Provincial-level governments will be entitled to review registration and modification of foreign-invested enterprises investing less than $1 billion in sectors included in the negative list.
Local governments were encouraged to carry out integrated approval procedures, and review enterprises¡¯ registration and filing in one platform.
Capital use of foreign-invested enterprises, foreign talents¡¯ work in China, and their exit and entry will be easier than before, according to the circular.
Efforts should be made to attract foreign investors with advanced technologies and management experience, support their participation in the construction of free trade port in Hainan province, and strengthen the leading role of pilot free trade zones in attracting foreign investment, the circular stated.
It also encouraged foreign-invested enterprises to reinforce R&D, put more capital in advanced technologies, and participate in merger and acquisition in China.
The circular also stressed measures to protect intellectual property right (IPR) and other rights, including lifting the upper limit of IPR infringement compensation, strictly cracking down on illegal activities such as business secrete invasion and trademark squatting, and prohibiting compulsory technology transfer.
For a better layout of foreign investment, it encouraged foreign-invested enterprises in western and northeastern regions to expand financing channels through issuing bonds, and urged cutting logistic costs through a full range of measures.
Also, the government will support the development of key border areas and the establishment of international cooperation zones in western regions which will play a leading and exploratory role in utilizing foreign capital.
(June20,2018)  from: english.gov.cn
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point.gif (302 bytes) China vows to boost imports for balanced trade, consumption upgrade
China will take a slew of incentives to further boost imports in order to drive domestic industrial upgrading and better meet the increasingly diversified consumption demands of people, the State Council decided at an executive meeting chaired by Premier Li Keqiang on June 13.
The measures are expected to advance China¡¯s win-win strategy of opening-up. Expanding imports while keeping exports stable will help raise the supply quality and upgrade consumption.
The Chinese government puts great emphasis on boosting imports. In his keynote speech at the Boao Forum for Asia Annual Conference in April, President Xi Jinping announced that China will expand imports and achieve greater balance in international payments under the current account, and will import more products that are competitive in light of market demand. Premier Li Keqiang stated in the Government Work Report in March that China will actively expand imports and lower import tariffs on goods such as automobiles and everyday consumer products, to promote industrial upgrading and more balanced development of trade and further diversify consumer choices.
China has made notable achievements in foreign trade since reform and opening-up. The country has been the world¡¯s largest exporter and second largest importer of goods for nine consecutive years, and is now the world¡¯s largest importer of energy resources.
¡°Expanding imports is crucial for upholding free trade. Priority should be given to meeting the needs of everyday life and boosting trade in services,¡± Premier Li said. ¡°Our deficit in services trade may be turned into a catalyst for upgrading the services sector.¡±
The June 13 meeting decided that more support will be given to importing daily consumer goods, medicine, as well as nursing and rehabilitation facilities, to meet the demand of consumption upgrading and improve supply quality. The government will also cut the import tax on some goods and reduce institutional procedures and unreasonable price increases, so that consumers can benefit from the import duty cuts.
Trade in emerging services will be boosted, and imports of producer services covering research and design, trade logistics, consulting services, energy conservation and environmental protection will be encouraged.
Policies on duty-free shops will be made more flexible, with more duty-free products introduced and shopping experiences improved. Imports of technological facilities needed for domestic industrial upgrading will be supported.
The meeting also called for optimizing customs clearance procedures and promoting the Authorized Economic Operator (AEO) mutual recognition with other countries to better facilitate imports. New approaches to importing trade were called for at the meeting, and cross-border e-commerce and border trade will be further developed. At the same time, a credit information system in foreign trade as well as enhanced intellectual property rights protection are needed so that foreign trade and foreign investment will complement one another.
¡°Our initiative of boosting imports demonstrates China¡¯s commitment to a new round of high-standard opening-up, to economic restructuring, and to economic transformation and high-quality development,¡± Premier Li said.
April¡¯s statistics from the General Administration of Customs show a good momentum in China¡¯s foreign trade in the first quarter of this year. Trade in goods totaled 6.75 trillion yuan, up 9.4 percent year-on-year, and trade surplus fell 21.8 percent. (June 14.2018) from: english.gov.cn
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point.gif (302 bytes) China sees improvement on IPR development

The comprehensive development level of intellectual property rights (IPR) in China has kept rising and the quality of patents is improving, said an official at the State Intellectual Property Office on June 12.
Han Xiucheng, director of the office¡¯s Intellectual Property Development Research Center, made the remarks at the launch of a report about China¡¯s IPR development in 2017.
The report shows that China has made progress in IPR creation, application, protection, management and service, and the gap with major IPR powers has narrowed. China¡¯s IPR development ranked 10th out of 40 countries in 2016, up from 19th in 2012.
In 2017, China¡¯s patent retention rate reached 60 percent, up 3.9 percentage points from a year earlier, and the average duration of invention patents reached 6.2 years, the report said. Though the quality of China¡¯s patents has improved, it still lags far behind increases in quantity and efficiency.
Han also said China would step up IPR protection by raising legislative standards, improving law enforcement, and promoting innovation in the trial of IPR cases, in order to impose tougher punishment on the infringement of IPR.
¡°The improvement of the IPR system, steady increase in the number of service organizations and personnel, as well as fast growing of public awareness has made the IPR environment in China much better,¡± Han said. (June13,2018)
from:  english.gov.cn

point.gif (302 bytes) China to improve quality of domestic dairy and milk products

T
o further revive the milk industry and improve the quality of domestic dairy products, the State Council has released a circular to guide the industry¡¯s development.
It expects the industry to increase its own production capacity through technological innovation, system reform in management and cost reduction while increasing efficiency. Development of the industry should also be coordinated with ecological development.
By 2020, progress should be made in building a modernized milk industry, with more than 99 percent of the products qualifying and re-use rate of the waste in cattle raising reaching more than 75 percent. The whole milk industry should be revitalized by 2025, with milk source bases, product processing, quality and industry competitiveness reaching the world¡¯s top levels.
To improve milk source bases, the government urges efforts to consolidate the current bases in the north, while expanding new areas in the south. It calls for developing standardized cattle breeding methods, improving the quality of milk cows through big data and online evaluation platforms, and producing high-quality fodder for the cows.
According to the circular, the State Council encourages the integration of dairy enterprises, promotion companies and e-commerce retailers, in order to lower costs while enhancing efficiency to increase the competitiveness of dairy enterprises.
Regulations and rules on dairy products will also be improved, with strengthened supervision through the whole production process of dairy products.
More strict measures will be taken to ensure the quality of formula milk powder for infants, and illegal actions such as mixing inedible ingredients and overuse of food additives will be strictly banned.
It clearly forbids importing milk powder in bulk and splitting them before sales, while encouraging companies to set up their own milk bases to improve the quality for infants.
Dairy enterprises should also make efforts to improve their image through activities such as inviting visitors to the farms, publicizing the production process to inspire market consumption.
The government will provide policy support in breeding and product processing, and help strengthen coordination among different regions and departments, according to the release. (June 13,2018)  
from:  english.gov.cn

point.gif (302 bytes) Chinese businesses see technology investment as the way to hedge against risks

Chinese businesses see technology investment as the way to hedge against current trade and policy risks ¡ª that was the consensus from CEOs attending the recent annual China Enterprises Summit in Jiangyin city, East China¡¯s Jiangsu province.
The pulse of the real economy is humming. Profits are picking up pace thanks to faster production and supply side reforms, but the corporate sector is not being complacent.
Huaxi village, known as China¡¯s No. 1 village, which used to be heavily steel-dependent, has shut down nine plants in the past few years and is investing in display technology, financial services. Wu Xie¡¯en, the Party chief of Huaxi, said that they ¡°started reforms on HR (and) organization structure to revitalize the company.¡±
Chinese retail giant Gome is also trying to make improvements. Its board member Huang Xiuhong, who is also the chairwoman of Eagle Holdings, said that they want Gome to go beyond appliance retail to build a smart homes ecosystem. She continued that sales are expected to grow 50-70 percent this year, since ¡°our mobile platforms are going to get smarter and offer fuller services.¡±
Far East Holdings Group is an example, as well. The company last year invested in a $1.8 billion joint venture with Detroit Electric to produce electric cars. The company will be rolling out more models internationally, according to its Chairman Jiang Xipei.
On the hot button China-US trade issue, CEOs were in wait-and-see mode. ¡°We¡¯d be more cautious about overseas expansion. There are many policy developments we don¡¯t understand. I think the Chinese market is big enough,¡± Huang noted. Jiang hold the similar opinion and said, ¡°We¡¯d be more cautious about US investments in the future, because we want to make sure the macro environment is positive for our business.¡±
The CEOs not only discussed the challenges, tighter financing conditions, stricter environment rules and trade uncertainties, but they are also finding the opportunities from new energy, seeking new partners, freer trade.
The one thing they all have in common is the thirst for technology talent. ¡°The hard thing is getting talent in high tech, new technologies, right now almost all companies want to get into tech, it takes considerable time to build up the talent pool and reward them,¡± Huang told CGTN.
¡°I think getting talent is not just about money, we need to give them acceptance, to back them up when they¡¯re being misunderstood or run into difficulties,¡± Wu mentioned.
¡°My biggest concern is talent. We used to lack technology, capital, management experience, now we hope the real economy can attract more top graduates from all disciplines,¡± Jiang Deyi, chairman of BBMG Corporation stressed on talent, too.
Unlike past years when the ¡°real economy¡± sounded staid compared to financial expansion, property speculation and overseas spending sprees, the 2018 mood is ¡°back to basics¡± ¡ª a strategy that should help corporate China ride out the current policy turbulence.(June12,2018)
from:  english.gov.cn

point.gif (302 bytes) The development of China¡¯s digital economy

China¡¯s Cyberspace Administration takes a look at the country¡¯s booming Information Technology (IT) sectors in a fresh report. The report on the development of China¡¯s digital economy shows that the area has expanded rapidly in past years.
In 2017, China¡¯s digital economy had a total output of 27 trillion yuan ($4.2 trillion), up more than 20 percent from the previous year. That made up almost one third of China¡¯s GDP. Analysts say the application of IT is an important driver in China¡¯s economic upgrading.
The development of digital economy was thanks to the hardware resources.
In 2017, China produced 97 million smart televisions, up about 4 percent from 2016. In addition, Chinese manufacturers assembled 130 thousand industrial robots, up 81 percent from 2016. Also last year, China produced 2.9 million civilian drones, with a 67 percent increase.
As a result, China¡¯s ever pervasive mobile payment sector processed transactions exceeding 200 trillion yuan ($31.2 trillion).
Big data is an emerging segment in the IT sector. And it¡¯s viewed by many industrial players as a strategic area and potential source of growth.
The total output of the sector amounted to 23 billion yuan ($3.6 billion) last year. Although that is still a small number, the sector¡¯s growth has been fast. China Academy of Information and Communications Technology estimates that the sector¡¯s output will reach 33 billion yuan ($5.2 billion) in 2018. 
(May 30,2018)  from:  english.gov.cn
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point.gif (302 bytes) Premier Li urges economic upgrade for high-quality development
Premier Li Keqiang urged upgrading the economy, promoting high-quality development and improving people¡¯s lives at a State Council plenary meeting he chaired on May 25.
The Premier said China¡¯s development faces both precious opportunities and challenges hard to foresee, as the international political and economic landscape is being reshaped.
He said the reforms of streamlining administration, delegating power and improving service should be continued to stimulate the market, in addition to easing market access and cutting taxes and administrative fees. The market should play a decisive role in resource allocation while the government should play a better role, he said.

Efforts should be made to strengthen market supervision to create an environment for fair competition, while cutting repetitive supervision and red tape and reducing the discretionary powers of the government, he noted.
A unified online administrative service platform should be built to facilitate people¡¯s lives and businesses. Opening-up should be expanded, so that domestic and foreign companies can compete fairly in China¡¯s vast market, he added.
The Premier stressed the need to transform economic structure, nurture new growth drivers and upgrade traditional drivers to promote industries to the middle- and high-end.
He urged more efforts in basic research and key technologies, encouraging entrepreneurship and innovation, and promoting new technologies and new industries through inclusive and prudent supervision.
It is important to eliminate backward capacity and develop environmentally friendly industries in order to achieve a win-win situation between ecological protection and economic development, he said.

Premier Li asked related departments to stick to people-oriented development concepts, with priorities on securing people¡¯s basic livelihoods. Guarantee mechanisms should be constantly improved in poverty alleviation, employment, compulsory education, basic healthcare, basic pension insurance and basic living allowances, among which more efforts should be put on targeted anti-poverty measures, distribution of pensions in full amounts and on time, as well as increasing reimbursement ratios and coverage for major illness insurance. In addition, more nonbasic public services will be provided to meet the diversified demands of society.
He also stressed risk prevention and emergency management in finance, urban governance, safe production, pollution control, natural disasters and major challenges from international society, so as to secure steady economic and social development.
(May 29,2018)  from:  english.gov.cn
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point.gif (302 bytes) China issues guidelines to strengthen scientific integrity

BEIJING ¡ª China issued guidelines on May 30 to strengthen scientific integrity, encourage innovation and scale heights in science and technology, to lay a solid social and cultural foundation for building the country into a world scientific power.
A scientific integrity mechanism will be built to encourage innovation and tolerate trials and errors while maintaining zero tolerance for severe academic dishonesty, and anyone who violates the integrity rules will be held accountable by law, according to a document released by the General Office of the Communist Party of China (CPC) Central Committee and the General Office of the State Council.
China¡¯s Ministry of Science and Technology (MOST) and the Chinese Academy of Social Sciences (CASS) will take the leading responsibility in coordinating and managing the work of scientific integrity in the fields of science and social sciences respectively.
According to the guidelines, MOST and CASS plan to build an integrity information system to record and assess conduct of scientists and scientific institutions across the country.
The guidelines strictly prohibit practices such as plagiarism, fabrication of data and research conclusions, ghost-writing, and peer review manipulation.
The guidelines say great efforts will be made to reform the scientific research evaluation system, making scientific integrity an important indicator in various evaluations.
Papers, patents, titles, projects, and honors should not be taken as the restricting qualifications for evaluation, according to the guidelines.
MOST also plans to build a journal warning mechanism to put any domestic or international academic journals that ignores academic quality while seeking high payments onto a blacklist, and papers published in such journals will not be recognized in any kind of assessment.
The guidelines say intermediary service agencies which engaged in illegal activities such as buying and selling scientific papers, ghost writing, and forging, fabrication, and distorting research data, will be punished severely.
Those who are found to have committed academic misconduct will be banned from teaching or doing any kind of research work in government-run schools and scientific institutions. Their research grants will be canceled and honors revoked, according to the guidelines.
The guidelines encourage Chinese researchers to conduct exchanges and cooperation with relevant countries and international organizations, strengthen study on scientific integrity, jointly improve international norms of scientific research, and positively cope with transnational cases regarding scientific integrity, the guidelines say. (May25,2018)
 from:  english.gov.cn
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point.gif (302 bytes) Premier urges cutting logistics costs, improve efficiency
At the State Council executive meeting on May 16, Premier Li Keqiang pledged to cut costs in the logistics industry and improve its efficiency.
He said the government has taken effective measures in recent years to cut logistics costs. Data show that in 2017, social logistics costs accounted for 14.6 percent of GDP, down by 3.4 percent from 2012, falling five years in a row.
¡°There is still room for reform,¡± the Premier said. ¡°During my local visits, I found that the number of permits for passenger vehicles is still too high.¡±
Measures were issued at the meeting. From May 1, 2018, to Dec 31, 2019, the land use tax for warehouses of logistics enterprises will be cut by 50 percent. The vehicle purchase tax for trailers will be cut, also by a half, from July 1, 2018, to June 30, 2021.
The annual verification, examination and exhaust gas inspection for trucks will be consolidated. Getting permits for them will be simplified. The certificate for trucks under 4.5 metric tons will be canceled.
The government will also try to cancel toll stations at provincial boundaries on highways and simplify procedures for logistics enterprises to set up branches.
Earlier this year, a policy was issued to adjust the value-added tax, which resulted in the reduction of railway freight. With these measures taken this year, logistics costs are expected to be cut by over 12 billion yuan.
¡°Besides cutting transportation costs, we should also develop a combined transport by highway, railway and waterway to improve logistics efficiency,¡± the Premier said.
At the meeting, he urged further streamlining administration, delegating power and cutting taxes and institutional trade costs.
(May 22,2018)  from:  english.gov.cn

point.gif (302 bytes) China will further cut red tape to spur foreign investment

China will further simplify procedures for setting up foreign-invested enterprises to promote high-standard facilitation of free trade and investment, the State Council decided at an executive meeting chaired by Premier Li Keqiang on May 16.
It was decided at the meeting that a single form and one-stop services will be introduced for the business filing and registration of foreign-invested enterprises. The whole process will be conducted online and free of charge, without the need for paperwork or appearance in person. This practice, which will take effect from June 30, is expected to significantly shorten the time required for FIE-related business procedures.
Real-time sharing and coordinated management of FIE-related information will be promoted among banking, customs, taxation and foreign exchange authorities. Government inspections will also be strengthened to ensure that measures are implemented in full.
In the Government Work Report this year, Premier Li said that procedures for setting up foreign-invested enterprises will be simplified, and business filing and registration will be processed together.
The Premier said at the meeting that consolidating the filing and registration procedures for FIEs is a matter of high priority. He called for all government departments concerned to fully collaborate and coordinate with each other in this process to make things easier for FIEs.
Statistics from the Ministry of Commerce show that over 35,600 foreign-invested enterprises were set up in 2017, up 27.8 percent year-on-year. And foreign investment rose 7.9 percent over 2016, hitting a record high of 877.5 billion yuan.
Concrete measures were also adopted at the meeting to establish a uniform e-platform for accessing government services and see that things requiring a personal appearance will get done in one place, without the need for a second trip.
It was decided at the meeting that an e-platform for accessing interconnected government services at the national, provincial and city levels will be established. All government service items will be put on this platform unless the laws otherwise stipulate or for confidentiality reasons. The government will stay committed to a unified e-platform for all government services by connecting the separate networks, with few exceptions allowed for separate networks or offline government services. In principle, no individual department will be allowed to set up an independent information system.
Standardized procedures will be laid out, and a list of the items requiring appearance in person will be released, under which single-window services will be provided to save applicants the need for a second trip.
¡°Government services are to serve the public, and hence must be universally accessible. Current technologies have made it possible to have many things done online,¡± Premier Li said.
¡°What¡¯s important is to introduce a unified e-platform for all government services by connecting the separate networks. This should especially be the case for the portal websites of central government departments.¡±
It was also decided at the meeting that procedures for accessing government services will be further simplified. There will be no repeated requirement for materials that can be shared and reused. Related mechanisms will be amended promptly in this respect. Electronic licenses will be more widely introduced, and their reciprocal recognition will be further promoted.
A uniform platform for data sharing and exchange will be established. Agencies that fail to connect to government information systems at different levels will lose their eligibility for applying for new projects or funding for technical maintenance.
At least 90 percent of the service items offered by provincial-level authorities and 70 percent by city and county-level authorities will be made accessible online before the end of 2019.
The Premier stressed that standardization is the way to go in applying the ¡°Internet Plus government services¡± model. The regulatory authorities for cyber affairs should step up supervision and oversight.
¡°Information security should always be a high priority. Efforts must be stepped up to establish the corporate and individual credit systems and a unified and open government services system,¡± he said.
(May 17,2018) from:  english.gov.cn
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point.gif (302 bytes) Results released for spot check on govt websites
Results for a spot check on government websites in the first quarter have been revealed, according to a notice issued by the State Council on May 16.
The State Council General Office checked 303 websites, 95 percent of which met quality standards. Regional governments and State Council departments checked 11,639 websites under their respective administrations, with a pass percentage of 95 also.
In the first quarter, 272 officials were held accountable for websites which failed to pass the check.
Problems in those unqualified websites included ineffective management, inconvenient online service, restricted access for exchange with users, and nonstandard domain names and logos.
The notice urged regional governments and departments to resolve the problems unveiled in this check, enhance online service, streamline access for the public to submit questions and suggestions, and protect website security.
As of March 1, 2018, the num ber of government websites in operation in China was 23,269, according to the notice.
(May 16,2018)  from:  english.gov.cn
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point.gif (302 bytes) China joins ASEAN countries¡¯ chorus for free trade
JAKARTA ¡ª Premier Li Keqiang on May 7 pledged to jointly promote trade and investment liberalization and facilitation with the Association of Southeast Asian Nations (ASEAN), so as to inject positive energy into the world economy.
He made the remarks while addressing a celebration ceremony of the 15th anniversary of the China-ASEAN strategic partnership at the ASEAN Secretariat in Jakarta, capital of Indonesia.
At the 32nd ASEAN Summit and related meetings held in Singapore in late April, leaders of ASEAN countries agreed to work toward an early conclusion this year of the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement (FTA) scheme of the 10 ASEAN member states and its FTA partners, namely China, Australia, India, Japan, the Republic of Korea and New Zealand.
In his speech, the Premier also called for substantive breakthroughs made in the negotiations on the RCEP.
China and ASEAN countries are all beneficiaries of free trade, Premier Li said, adding that it is in line with their common interest to safeguard multilateralism and the international trading system.
China is ready to work with ASEAN countries to promote the early completion of the RCEP, build the East Asian economic community and promote trade and investment liberalization and facilitation, so as to inject positive energy into the world economy, he said.
He said the importance of cooperation between China and ASEAN has gone beyond the bilateral scope and has increasingly become the support and engine for maintaining regional peace and stability as well as promoting regional common prosperity.
China has always put ASEAN as a priority for its foreign policy with neighboring countries and stood for friendly cooperation with ASEAN, said the Premier.
He said China supports the establishment of the ASEAN community, supports ASEAN¡¯s central position in regional cooperation and supports it to play a bigger role in building an open and inclusive regional framework.

This year marks the 40th anniversary of China¡¯s reform and opening-up, and the ASEAN also ushered in its second 50-year period, said Premier Li.
Last month, President Xi Jinping proposed new initiatives for furthering opening-up at this year¡¯s Boao Forum for Asia annual conference.
Premier Li said China¡¯s development would bring new and greater opportunities to all countries in the world including ASEAN.
China is ready to work with ASEAN to build a closer community with shared destiny and jointly write a new chapter in their cooperation, said the Premier.
In his welcome remarks, Secretary-General of ASEAN Lim Jock Hoi thanked Premier Li for his visit to the ASEAN Secretariat and his attendance at the Launching Ceremony of the 15th Anniversary of China-ASEAN Strategic Partnership.
China has always been an important partner of ASEAN, he said, noting that China¡¯s support has strongly promoted the integration of ASEAN, helped ASEAN narrow its internal development gap and deepened the friendship between the people of the two sides.
ASEAN is willing to work with China to strengthen economic and trade cooperation, especially in such areas of innovation and digital economy, so as to achieve common prosperity and mutual benefit, said Lim.
Congratulating China on its tremendous achievements in reform and opening-up, Lim said he appreciated China¡¯s commitment to an open and rules-based multilateral trade system.
He said he believed that China¡¯s broad prospects for development will not only benefit the Chinese people but will also improve the well-being of all people in the region.
Premier Li launched the ceremony together with Lim and Tan Hung Seng, the permanent representative of Singapore to ASEAN. More than 200 participants attended the ceremony.
The Premier arrived in Jakarta on May 6 for an official visit to Indonesia, the first stop on his first overseas trip since the new cabinet took office in March.
(May 8,2018)  from:  english.gov.cn
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point.gif (302 bytes) China makes greater efforts to improve business environment

China will further improve its business environment by halving the time required to open a business and start construction projects, the State Council decided at an executive meeting chaired by Premier Li Keqiang on May 2.
According to a decision at the meeting, the length of time required to start a business in municipalities, sub-provincial cities and provincial capitals will be reduced from an average of more than 20 workdays to 8.5 by the end of the year. This measure will also be introduced in five leading cities, Dalian, Qingdao, Ningbo, Xiamen and Shenzhen, with other areas also set to see positive progress, to be followed by national implementation in the first half of next year.
Measures to halve the time required for government approval of construction projects from the current average level of more than 200 workdays to 120 will be piloted in 15 cities, including Beijing, Shanghai and Tianjin, and in Zhejiang province, this year, whereby all government review items and approval procedures concerning home building and urban infrastructure will be simplified, optimized and standardized. This pilot program will be rolled out nationwide in the first half of next year.
President Xi Jinping emphasized that we must do away with regulations and practices that impede the development of a unified market and fair competition, stimulate the vitality of all market entities and adopt policies to promote high-standard liberalization and facilitation of trade and investment.
Premier Li said that a good business environment is part and parcel of enhancing competitiveness and productivity. ¡°In spurring economic growth, our focus needs to shift from investing in projects to improving the business environment. The key is to press ahead with the reform of government functions,¡± he said.
An estimate by the World Bank moved China up 65 spots between 2013 and 2017 in the ranking of ease of starting a business, and the length of time required was shortened from 33 days to 22.9.
According to a decision at the meeting, the procedures that a new firm needs to go through to become initially operational will be further streamlined. The whole business registration process will be conducted online. Government approval of business names before registration will no longer be needed unless specifically required.
The record-filing procedure for official seals will be included in the reform to integrate different certification requirements for business registration. Applicants may also choose their own providers for official seals.
No separate tax registration will be required, and no separate social insurance registration certificate issued for companies that have obtained business licenses with unified social credit codes. The amount of time needed for invoice application and social insurance registration will also be reduced.
¡°An enabling business environment that unlocks market vitality is crucial to achieving sustained, high-quality development in China. The biggest potential for our development lies in the vast domestic market and the creativity of all market entities,¡± Premier Li said.
¡°Reducing government-imposed transaction costs will be the priority of the reform of government functions going forward, and there is still a great deal that can be done in this respect. The government must continue to make determined efforts to cut red tape, enhance compliance oversight and provide better services,¡± he said.
To slash the review time for construction projects, the following measures were decided at the meeting:
First, the number of items subject to government approval will be further simplified. The record-filing requirement for construction contracts and building efficiency design review will be eliminated, and designs for fire control and civil air defense will be incorporated into the construction plan documents for review.
The review and approval of a project will no longer be conditional on environmental impact and energy efficiency, which will instead be subject to general assessment by the government.
Second, category-specific management will be introduced. The approval procedures for privately invested small and medium-sized construction projects will be simplified. No government approval will be required for the design plans of land-use right transfer projects with existing development plans. For privately invested home building projects, the project proprietors may decide how to award their own contracts.
Third, procedures will be streamlined. An interagency approach with a clear time frame will be adopted for simultaneous site inspection, mapping, surveying and drawing inspections by competent authorities in planning, natural resources and urban utilities. So in the future, the government will formulate one single checklist laying out all construction requirements, one single system for approval and inspection services, one single window for multiagency services, one single form for application materials and one single mechanism for rules-based approval.
¡°The rebound in private investment this year has been encouraging, yet lengthy reviews for construction projects will drive up corporate costs,¡± Premier Li said.
¡°Reform must be pushed forward by breaking down the departmental barriers of vested interests. We will advance these reform measures step by step and keep in mind the realities on the ground, and work to roll them out nationwide next year.¡±
(May 4,2018)   from:  english.gov.cn
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point.gif (302 bytes) China will roll out fresh tax cuts to aid small businesses
China will make further tax cuts worth over 60 billion yuan ($9.4 billion) to drive innovation and entrepreneurship and boost the development of small and micro businesses, a State Council executive meeting presided over by Premier Li Keqiang decided on April 25.
The move aims to reduce the cost for innovation and entrepreneurship, energize small and micro businesses and spur job creation.
As part of the efforts to implement blueprints set out by the Central Economic Work Conference and the Government Work Report, the annual taxable income threshold of small and micro businesses eligible for halved income tax will be raised from 500,000 to 1 million yuan. The per unit value of newly-purchased R&D instruments and equipment eligible for one-time tax deduction will be raised from 1 million to 5 million yuan. These two measures will be effective from Jan 1, 2018 to Dec 31, 2020.
President Xi Jinping has stressed that the country needs to encourage more entities to make innovations and start businesses and support the innovations by small and medium-sized enterprises.
¡°We must work hard to cut the cost of the real economy, bring out the vitality of all market entities by lifting the discriminatory restrictions and hidden barriers in taxation and other respects, and see that all the policy incentives for SMEs and micro businesses are fully delivered,¡± Xi said.
In his Government Work Report delivered in March this year, Premier Li said that the government will further lighten the corporate tax burden. Far greater numbers of small, low-profit businesses will see their income tax halved and the ceilings on deductible business purchases of instruments and equipment will be significantly raised. The pilot preferential tax policies for venture capital investment and angel investment will be extended nationwide, he said.
According to a decision made at the meeting, the tax incentive enjoyed by venture capital firms and angel investors that sees 70 percent of their investment deducted from the taxable income of the seed and early stage high-tech startups they finance will be extended nationwide. The policy has been piloted in the country¡¯s eight innovation and reform experimental zones, including the Beijing-Tianjin-Hebei area, Shanghai and Guangdong, as well as in the Suzhou Industrial Park. Such tax cuts will be implemented from Jan 1 for corporate income tax and from July 1 for personal income tax this year.
The meeting also decided to abolish the preclusion of the expenses of commissioned overseas R&D from additional tax deduction. The time limit for the capital loss carryover of high-tech firms and technological SMEs will be extended from 5 to 10 years, pending approval by the Standing Committee of the National People¡¯s Congress. All enterprises shall see the tax deduction for their employee training costs raised to 8 percent, the same rate as high-tech companies enjoy, from the current 2.5 percent. These three measures are effective from Jan 1 this year.
Premier Li said that while this round of tax cuts is targeted at small and micro businesses to spur innovation, the whole economy stands to benefit. Though being the biggest job providers, small and micro businesses have long had difficulty in accessing affordable financing. Supporting their development is critical to ensuring employment.
The meeting also adopted measures of stamp duty relief for books of account starting from May 1.
All the above mentioned measures are expected to reduce the corporate tax burden by over 60 billion yuan. The move follows a 400 billion yuan tax cut package for 2018, which was decided at a State Council executive meeting on March 28.
Premier Li stressed that while the well-established firms receive due attention, greater support must be extended to all growth enterprises, including SMEs and micro businesses.
¡°Tax cuts and fiscal input are like the two sides of a coin. Both can catalyze innovation,¡± he said.
The Premier once again called for full implementation of the above policies to deliver concrete benefits to all businesses concerned.
(April 27,2018)   from:  english.gov.cn

point.gif (302 bytes) First Digital China Summit kicks off in E China

The First Digital China Summit opened in Fuzhou, capital of East China¡¯s Fujian province, on the morning of April 22, during which 293 exhibitors will display the latest digital economy achievements.
With the theme ¡°Facilitating information-driven development and a digitalized China,¡± the three -day summit will display the latest achievements in e-government and digital economy, such as face recognition and voice recognition technologies.
The summit has a main forum and several sub-forums, covering topics such as e-government, digital economy, smart society, new smart cities, big data, digital Fujian, digital Maritime Silk Road and the internet of things. (April 24,2018)   from:  english.gov.cn

point.gif (302 bytes) Charges,food among key issues raised

Administrative charges suspended
Some administrative fees, including those for first identification cards, will be suspended or abolished, said a joint notice by the Ministry of Finance and the National Development and Reform Commission.
The notice said citizens, from April 1, would not be charged for their first ID card. From Jan 1 this year to Dec 31, 2020, institutional supervision fees for securities and futures were suspended, it said.
Crackdown on private equity fraud
The China Securities Regulatory Commission has cracked down on 10 cases of illegal activity in private equities, including eight cases that will be subject to administrative penalties, the commission said on April 20.
The cases were related to illegal operations, transfers of benefits, market manipulation and rat trading (using personal accounts to purchase shares and then selling them when the fund buys them), the commission said.
Governmental fund system change
To reduce costs for the public and support the real economy, the Ministry of Finance recently released a notice to lower the threshold for some governmental funds.
Starting this month, the employment guarantee, where companies pay a levy to safeguard incomes for disabled employees, will be lowered to twice the local average income, from the previous thrice. Starting on July 1, another 25 percent will be cut from funds collected for the nation¡¯s major water resource projects. The funds were previously reduced by 25 percent.
Food sold near schools targeted
A crackdown was launched to tackle substandard food sold near school campuses, said a recent notice by the State Administration for Market Regulation.
The notice required that all food sold around campus must meet safety standards and cannot be additive-laden. All food workshops without licenses must be closed and any food found below standard will be removed from shelves, retrieved and destroyed to avoid potential danger, it added.
New channel to buy train tickets
A new service hotline 12328 was introduced recently to make it easier to get train tickets.
The public can also use the hotline¡¯s official WeChat account to buy tickets online. So far, 337 cities around the country have opened the hotline with functions such as complaints and consultation for the transport sector.
Tax relief on cash for scientists
Income tax will be lowered for scientists when they get cash incentives from technological transfers, according to a State Council executive meeting on April 18.
Only half of the cash incentives will be subject to income tax when scientists and technicians in nonprofit research institute and universities are rewarded in the first three years after their research or patents earned their institutions profits, according to a statement released after the meeting, which was presided over by Premier Li Keqiang.
(April 24,2018)   from:  english.gov.cn

point.gif (302 bytes) China aims for mature free trade port system in Hainan by 2035
BEIJING ¡ª China is aiming to make the free trade port system and operational mode of Hainan ¡°more mature¡± by 2035, according to a document unveiled on April 14.
A free trade port system will be ¡°basically established¡± in Hainan by 2025, according to the guidelines on supporting Hainan¡¯s efforts to deepen reform and opening up jointly released by the Central Committee of the Communist Party of China (CPC) and the State Council.
China will also set up an investment fund to support Hainan¡¯s development of a free trade port.
A free trade port is the world¡¯s most open form of economic zone, which has brought prosperity to places like Singapore and Hong Kong thanks to its broad-based preferential policies on trade and investment.
President Xi Jinping on April 13 announced a decision by the CPC Central Committee to support building Hainan into a pilot free trade zone and gradually and steadily into a free trade port with Chinese characteristics.
China welcomes investors worldwide to invest and start business in Hainan and participate in the building of a free trade port there, Xi said at a celebration marking the 30th anniversary of the establishment of Hainan province and the Hainan Special Economic Zone.
China will support the ¡°all-round participation¡± of foreign firms in the development of the Hainan free trade port, and multinational companies are encouraged to set up international and regional headquarters there, according to the document. (April 17,2018)   from:  english.gov.cn

point.gif (302 bytes) China steps toward intelligent manufacturing

Under the theme ¡°An Open and Innovative Asia for a World of Greater Prosperity¡±, the Boao Forum 2018 opens this weekend in South China¡¯s tropical Hainan province. In recent years, Chinese companies have been shifting toward innovation and exporting high-quality products that meet the rigorous standards and expectations of global consumers. The development of artificial intelligence (AI) and robots signals a dramatic change in the manufacturing sector.
Athletes weren¡¯t the only attraction at the 2018 Winter Olympics, 24 robots danced to the rhythm during China¡¯s eight-minute show at the closing ceremony, causing a sensation in the world of robotics. Head of the design crew, Zhang Lei, once thought his brief was mission impossible.
¡°The organizing committee and my team were completely stunned when the director of the eight-minute show revealed the maneuvers he wanted the robots to perform. We had only two to three months to prepare everything from scratch,¡± said Zhang Lei, the head of the design crew from Siasun Robot & Automation Co Ltd.
The eight minutes in Pyeongchang showcased how much China¡¯s intelligent manufacturing has progressed in recent years. In Northeast China¡¯s Shenyang, a city that boasts the country¡¯s largest robot production base, more of its products are being deployed to the service sector. While these robots are mainly having a positive impact, in the reception of one local electricity center, the manager points out some areas where there¡¯s still room for improvement.
¡°Sometimes, the robot gets confused in noisy surroundings. It can mix up the orders of different people. Other than that, it is doing well, considering the service requirements and the amount of information it provides to the customers,¡± Ju Shibo told CGTN.
How do you determine how advanced a country is when it comes to robotics?
One measure is ¡°robot density,¡± which shows the number of robots per 10,000 workers. Robots are at the core of the government¡¯s sweeping ¡°Made in China 2025¡± plan to upgrade factories and make them highly automated. The country wants to reach a robot density of 150 units by 2020.
The increase in robot density in China is the most dynamic in the world, particularly between 2013 and 2016. The density rate rose from 25 units in 2013 to 68 units in 2016. Beijing intends to forge ahead and get China into the world¡¯s top ten automated nations in just two years.
¡°It¡¯s a realistic target, as labor costs are rising in China, pushing up the cost of manufacturing. Also, production techniques for robots continue to improve, which in turn makes the robots more cost-effective,¡± said Wang Kecheng, a manager of the company.
The ¡°Made in China 2025¡± plan aims to move the country¡¯s manufacturing sector up the value chain, but some argue the level of automation required is several steps ahead of China¡¯s current level. If domestic robot manufacturers hope to fill the gap, they will no doubt face fierce global competition. 
(April 12,2018)     from:  english.gov.cn

point.gif (302 bytes) Hainan given green light for medical tourism
The State Council decided to suspend implementation of item 2, article 11 of Regulations for the Supervision and Administration of Medical Devices in the Hainan Boao Lecheng International Medical Tourism Pilot Zone, as a move to support Hainan¡¯s international medical tourism industries.
According to the decision, if there is an urgent need in the pilot zone for certain medical devices not legitimately available in China, the Hainan provincial government can authorize the imports but those devices must be used in designated hospitals.
The State Council urges the State Drug Administration, Hainan provincial government and other relative departments to stipulate specific regulations on approval conditions and processes for importing medical devices.
(April 10,2018)     from:  english.gov.cn

point.gif (302 bytes) State Council releases regulation on scientific data management
On April 2, the State Council issued a regulation on the management of scientific data involved in natural science, engineering and technology, and other science fields.

According to the regulation, research institutions and scientific data producers should collect scientific data and build a database and data quality control system based on relevant standards.

Central and local authorities should establish rules and regulations while implementing national scientific data policies. Scientific data centers should be set up by qualified institutions and supervised by authorities, and will be responsible for the collection, classification, processing and analysis of data.

If data produced in government-funded research are used to write papers and for publication in foreign academic journals, they should be reported to related scientific data centers before being published.

The data produced in the research projects funded by private capital, if involving state secrets, national security and the public interest, also should be reported.

Data produced through government funding should be open to the public, except that which involves state secrets, national security, the public interest, commercial secrets and individual privacy.

Users of scientific data must abide by regulations on intellectual property rights and give credit to the producers of the data.

Authorities and research institutions should strengthen full life circle security management on scientific data, such as the authorization and authentication for downloading data. (April 3,2018) from:english.gov.cn
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point.gif (302 bytes) China¡¯s new tax cuts to benefit real economy

BEIJING ¡ª China¡¯s new value-added tax (VAT) reform measures are expected to reduce the burden on a range of sectors in the real economy, analysts said.

China will cut VAT rates as part of a tax reduction package amounting to 400 billion yuan (about $63.6 billion) this year, according to a decision made at a State Council executive meeting on March 28.

Starting from May 1, the tax rate will be lowered from 17 percent to 16 percent for manufacturing and some other industries, and from 11 percent to 10 percent for transportation, construction, basic telecommunication services, and farm produce.

While it will be only a one percentage point cut in each tax bracket, the reduction will impact a wide range of sectors in the real economy, according to Li Xuhong, a researcher with Beijing National Accounting Institute, a government think tank.

It was estimated that the reduction of taxes from lower VAT rates could reach 240 billion yuan. Li said the estimate was rather conservative, as tax reduction in the manufacturing sector alone could reach that amount.

VAT tax cuts in the transportation industry will lower the logistics costs for the real economy, Li said.

Investment bank China International Capital Corporation (CICC) estimated that firms in the two tax brackets will see their VAT tax burden decline by 6 percent and 9 percent, respectively.

¡°We believe that lower VAT rates will help reduce the prices of products and services in a number of competitive sectors, benefiting households and other sectors,¡± CICC said in a research note.

In addition to the VAT rates cut, the reform also offers tax incentives for some high-tech companies, a measure that analysts said is aimed at supporting innovation-driven growth.

Eligible enterprises in advanced manufacturing, modern services, and electric utilities will receive a lump-sum refund for their input VAT payments yet to be deducted.

The measure will have a ¡°far-reaching impact,¡± said Li, as it could free capital previously frozen on companies¡¯ balance sheets.

However, successful implementation of the refund policy depends on advanced tax collection measures and the overall level of honesty of taxpayers across society, Li noted.

The reform also includes measures to unify the standard for small-scale taxpayers, as it raises the threshold of taxable annual sales volume for industrial and commercial enterprises from 500,000 yuan and 800,000 yuan, to 5 million yuan.

¡°Raising the revenue ceiling to 5 million yuan for industrial and commercial sectors will help level the playing field and support the growth of medium and small firms in all sectors,¡± CICC said.

With all these measures, this year¡¯s VAT reform is more intensive than last year, CICC said.

The VAT reform was first piloted in Shanghai before it was rolled out nationwide. It has delivered a total tax cut of 2.1 trillion yuan over the past five years.

¡°We expect the reform to support China¡¯s economic growth in not only second quarter of 2018, but also the whole year and the first four months of 2019,¡± CICC said.

For Li, a more challenging job yet to be accomplished is to further reduce VAT brackets from three to two. In 2017, China streamlined its VAT brackets from four to three.

China aims to reduce taxes on businesses and individuals by more than 800 billion yuan this year, according to a government work report released in March.

While the VAT reform will help accomplish almost half of the target, policies to cut the remaining 400 billion yuan of taxes will be released soon, said Wang Jianfan, an official with the Ministry of Finance. (April 2,2018) from:english.gov.cn

point.gif (302 bytes) China to roll out new tax cuts to fuel economic growth
China will cut the value-added tax rates as part of a tax reduction package amounting to 400 billion yuan ($63 billion) this year to drive high-quality development, a State Council executive meeting chaired by Premier Li Keqiang decided on March 28.

The tax rate for manufacturing will be lowered from 17 to 16 percent, and the rate for transportation, construction, basic telecommunication services and farm produce from 11 to 10 percent, according to a decision at the meeting.

Premier Li said that VAT reform is a major step in China¡¯s tax regime reform.

¡°VAT reform has helped reduce the overall corporate tax burden, and improve the tax regime. The reform has proved to be conducive to the transformation and upgrading of the economy, unifying the tax structure and making taxation fairer,¡± he said.

¡°This round of tax cuts will apply to all manufacturing companies. All businesses registered in China, be they joint ventures or wholly foreign owned companies, will be treated equally,¡± the Premier said.

VAT reform was first piloted in Shanghai before it was rolled out nationwide in May 2016. It has delivered total tax cuts of 2.1 trillion yuan over the past five years.

The services sector has expanded significantly as a result. Its added value rose by 8 percent and accounted for 51.6 percent of GDP in 2017, according to the National Bureau of Statistics. The reform has also boosted entrepreneurship, innovation and the development of new industries and new forms of business. Micro and small firms have been the biggest beneficiaries in this process.

The Premier said in his Government Work Report earlier this month that efforts will be made to further lighten the tax burden on businesses. The government will reform and improve VAT, consolidate the three tax brackets into two and adjust tax rates, prioritize lowering rates in manufacturing and transportation, and raise the threshold for annual sales volume for small-scale taxpayers.

As part of the tax cut package, eligible enterprises in advanced manufacturing, modern services and electric utility will receive a lump-sum refund for their input VAT payments yet to be deducted.

The meeting also decided to unify the standard for small-scale taxpayers, raising the threshold of taxable annual sales volume for industrial and commercial enterprises from 500,000 yuan and 800,000 yuan to 5 million yuan. Enterprises registered as general taxpayers will be allowed to switch their status to small-scale taxpayers within a given time.

All the tax cuts will take effect starting on May 1.

The Premier said that reducing the three tax rate brackets to two in one go is a hugely challenging job, as reforms are normally pursued in small increments. Yet this goal is not beyond reach.

He stressed that no industry should see its tax burden increase in the course of VAT reform; this will be the guiding principle of all related reform measures.
(March29,2018)  from:english.gov.cn

point.gif (302 bytes) Govt issues guidelines promoting region-based tourism
The State Council has issued a guideline to promote region-based tourism, meaning identifying a whole area as a tourism destination, with unified planning for modern and quality tourism.

The circular urged advancing the ¡°tourism plus¡± program, promoting industrial integration and exploring new functions in region-based tourism.

The region-based tourism modes should feature diversity and environmental protection, the circular added.

The aim is to develop an integrated, quality, regulated tourism ecosystem that can generate maximum benefit.

The circular stressed efforts to extend tourism in other fields and industries, including integration with urban planning to build tourist towns and counties, with agriculture and forestry for sightseeing agriculture and forest parks and with technology for development of high-end healthcare tourism.

The circular also urged exploring cultural traits and folklore in tourism areas, upgrading quality of traditional craft art products, and bringing in new technologies for tourism products.

Entrepreneurship and innovation programs were also encouraged, and diverse investment entities will be welcomed.

According to the circular, tourism areas were encouraged to enhance service quality, build high-quality tourism brands and introduce intelligent services such as free Wi-Fi and online booking and payment.

In addition, public facilities should be enhanced. The circular called for efforts to push ahead the ¡°toilet revolution¡± and improve transportation network, consultation service centers in traffic hubs and guideposts.

The circular also urged protecting resources and the environment, and carrying out poverty-alleviation work by utilizing potential in tourism resources.

The government should increase policy support in finance, land use and talent, the circular read.
(March 26,2018)
from:english.gov.cn

point.gif (302 bytes)Yingkou port plans to invest 2.5 billion Yuan by the end of 2020 in some other countries
At present, Yingkou Port is planning to transform from terminal operator to line integrator, through investment in logistics nodes along the route, participation in management, realization of key node control, and enhancement of the overall operation effect and full service capability of China- Europe block train ferry. By end of 2020, the total amount of overseas investment had reached 2.5 billion Yuan.
March21,2018
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point.gif (302 bytes) Yingkou city ranked first in processing jellyfish in Liaoning province last year
Yingkou city has actively promoted the deep processing industry of jellyfish, and the jellyfish brand has achieved remarkable results. By the end of last year, the processing volume of jellyfish in our city had reached 90,000 tons, accounting for about 80% of the total export of processed jellyfish throughout the whole province. Processing output in the province ranked first.
(March 19,2018)
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point.gif (302 bytes) China unveils major cabinet reshuffle

BEIJING ¡ª China unveiled a major cabinet reshuffle on March 13, to make the government better-structured, more efficient, and service-oriented.

The institutional reform plan of the State Council was submitted to the ongoing first session of the 13th National People¡¯s Congress for deliberations.

State Councilor Wang Yong briefed the lawmakers on the plan.

After merging, restructuring, creating and dissolving, there will be 26 ministries and commissions. Among the new entities are ministries for natural resources, veterans affairs, and emergency management.

There will also be new administrations under the State Council, such as an international development cooperation agency, a state immigration administration, and a banking and insurance regulatory commission.

Compared with the current cabinet setup, the number of ministerial-level entities is reduced by eight and that of vice-ministerial-level entities by seven.

Wang said the reform, focusing on institutional restructuring in key areas, would strengthen the government¡¯s functions on economic management, market supervision, social management, public service, and ecological and environmental protection.

¡°It focuses on the needs of development and meets the people¡¯s expectations,¡± Wang said, adding that the restructuring formed part of a broader plan by the Communist Party of China to deepen the reform of the Party and state institutions.

He said the cabinet reshuffle dealt with the institutional obstacles to make the market play a decisive role in resource allocation. The reshuffle will also help China build a modern economy with high quality growth.

In a big change, a banking and insurance regulatory commission will be formed to replace the China Banking Regulatory Commission and the China Insurance Regulatory Commission.

The move is aimed at solving existing problems such as unclear responsibilities, cross-regulation and absence of supervision, Wang said.

The new body will enhance oversight of both banking and insurance industries and be more effective to forestall risks in the financial sector.

The international development cooperation agency, to be formed by merging parts of the functions of the Ministry of Foreign Affairs and the Ministry of Commerce, will ¡°give full play to foreign aid as a key means of major-country diplomacy,¡± Wang said.

A state immigration administration is to be set up under the Ministry of Public Security to formulate and enforce immigration rules, as ¡°the number of foreigners working and living in China has been increasing, raising new requirements on immigration administration and services,¡± according to Wang.

People¡¯s welfare will be better protected, with the establishment of two new ministerial departments devoted to healthcare and veterans affairs.

The ministry of veterans affairs will protect the rights and interests of military personnel and their families, improve the service and management system of demobilized military personnel, and make military service an occupation that enjoys public respect.

If passed, the cabinet reshuffle will be the eighth such move in more than three decades.

Cutting bureaucracy has been a common pursuit of governments around the world. Beginning 1982, amid its reform and opening-up push, China began downsizing the central government about every five years.

Ma Liang, a public administration professor of Renmin University of China, said cabinet reshuffles throughout the years aimed to develop a sound, service-oriented administration able to satisfy the people¡¯s needs.
(March 14,2018)  from:english.gov.cn
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point.gif (302 bytes)Two indicators of Xianrendao Economic Development Zone ranked first in Yingkou¡¯s key parks
A few days ago, Xianrendao Economic Development Zone held a general meeting to carry out the spirit of "optimizing the Business Environment and promoting Project Construction" in our city.
In 2017, the work of Xianrendao Economic Development Zone was progressing smoothly, showing a good development trend. There were 13 projects with more than 10 million Yuan under construction, of which 11 were more than 100 million Yuan. The total amount of export was 778 million Yuan, the year-on-year increase is of 61.2%, these show that the two indicators are ranked the first in the city's key parks. Become the strategic platform and important economic growth pole of our city carrying major projects. (
March12,2018)

point.gif (302 bytes) Export of Xianrendao Energy and Chemical Industry District rose sharply last year
Last year, Xianrendao energy and chemical industry district's foreign trade export reached a new high of 778 million Yuan accumulated, exceeding the annual target of 530 million Yuan, and maintaining a rapid growth rate of 61.7% over the same period last year.
(March.8,2018)

point.gif (302 bytes) Highlights of Premier¡¯s Government Work Report

Following are the highlights of a government work report distributed to media ahead of the annual session of the National People¡¯s Congress (NPC) on the morning of March 5.
OVER PAST FIVE YEARS
¡ª China¡¯ s gross domestic product (GDP) has risen from 54 trillion to 82.7 trillion yuan, registering average annual growth of 7.1 percent.
¡ª More than 68 million people have been lifted out of poverty.
¡ª Tourist departures have grown from 83 million to over 130 million.
¡ª Both energy and water consumption per unit of GDP have fallen more than 20 percent, the release of major pollutants has been consistently declining, and the number of days of heavy air pollution in key cities has fallen 50 percent.
¡ª Personal income has increased by an annual average of 7.4 percent, outpacing economic growth and creating the world¡¯s largest middle-income group.
¡ª More than 66 million new urban jobs have been added, and the country, with its population of over 1.3 billion, has achieved relatively full employment.

MAJOR TARGETS FOR 2018
¡ª GDP growth of around 6.5 percent
¡ª CPI increase of around 3 percent
¡ª Over 11 million new urban jobs, the surveyed urban unemployment rate within 5.5 percent, and the registered urban jobless rate within 4.5 percent
¡ª Basic parity in personal income growth and economic growth
¡ª A steady rise in import and export volumes, and a basic equilibrium in the balance of payments
¡ª A drop of at least 3 percent in energy consumption per unit of GDP, and continued reductions in the release of major pollutants
¡ª Substantive progress in supply-side structural reform, basically stable macro leverage, and systematic and effective prevention and control of risk

WHAT ELSE TO DO THIS YEAR
¡ª This year¡¯s deficit as a percentage of GDP is projected to be 2.6 percent, 0.4 percentage point lower than last year.
¡ª Cut steel production capacity by around 30 million metric tons and coal production capacity by approximately 150 million metric tons.
¡ª Reduce taxes on businesses and individuals by more than 800 billion yuan.
¡ª This year will see 732 billion yuan invested in railway construction and around 1.8 trillion yuan invested in highway and waterway projects; the scale of investment in ongoing water conservancy projects will reach 1 trillion yuan.
¡ª The general manufacturing sector will be completely opened up, and access to sectors like telecommunications, medical services, education, elderly care, and new-energy vehicles will be expanded.
¡ª Actively expand imports, host the first China International Import Expo, and lower import tariffs on automobiles, some everyday consumer goods, and so on.
¡ª Promote the peaceful growth of cross-Strait relations on the basis of the 1992 Consensus, and advance China¡¯s peaceful reunification.
¡ª Promote coordination and cooperation among major countries, deepen friendships and achieve common development with our neighbors, and enhance unity and cooperation with other developing countries.
¡ª Ensure the success of the annual conference of the Boao Forum for Asia, the Shanghai Cooperation Organization Summit, the Summit of the Forum on China-Africa Cooperation.
(March.07,2018)  from:english.gov.cn
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point.gif (302 bytes)China moves on trial reform of IPR cases
BEIJING ¡ª The Chinese leadership on Feb 27 unveiled guidelines for improving the trial procedures of intellectual property rights (IPR) cases.

Reforms are needed to improve top-level dealing with issues concerning the long-term development of the IPR case trials, and to adapt to changes in the international environment; judicial protection of IPR cases must be improved, according to a document released by the General Office of the Communist Party of China (CPC) Central Committee and the General Office of the State Council.

¡°An open mind is in need as reform must be made based on China¡¯s national conditions, while respecting international rules and learning from successful experiences of global cases,¡± the document said.

The reform targets higher efficiency, stronger IPR protection and better IPR case trial credibility. IPR infringement must be effectively curbed.

The detailed measures include building a compensation system for IPR infringement, stepping up creation of IPR courts and intensifying construction of IPR trial talent.

In 2016, Chinese courts handled 152,072 IPR cases, up 16.8 percent year on year. Over 3,700 people were arrested and 7,000 prosecuted, according to an IPR protection white paper.
(March.02,2018)  from:english.gov.cn
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point.gif (302 bytes)Yingkou Port Cross-Border E- Commerce Direct Mail launched
According to news on February 17th, after the first batch of 52 cross-border e-commerce direct mail packages transferred by sea through Yingkou port were scanned in turn, customs were cleared successively through the automated inspection and sorting lines. Yingkou port cross-border e-commerce business "Direct Mail by Sea" was officially launched. Which is to be became the second seaborne direct mail port in Northeast China.
(Feb.22,2018)

point.gif (302 bytes) Spending Smart: Millennials to fuel China¡¯s sharing economy

Young people in their 20s and 30s are rapidly becoming the backbone of China¡¯s widening spending power. Known as millennials, they are more open to new ideas and business models. They are also expected to help shape the future of the sharing economy.

Chinese millennials were born when China started to have more access to global markets. They are more eager to spend on experiences than on possessions. They share everything from bikes and homes to clothes and power banks.

¡°This new generation of consumers looks for information on the internet rather than in the library, and the information comes to them. The sharing economy meets their needs and it¡¯s very easy and very fast,¡± said venture capitalist Maggie Tan.

Besides bike sharing and apartment rentals, fashion rentals have emerged because of the booming sharing economy. Y Closet is a Beijing-based rental platform that doles out women¡¯s apparel and accessories. The company targets stylish young people with big dreams and small budgets.

¡°These young millennials do not want to follow the crowd. They want to have their own styles. But they¡¯re usually limited with their incomes,¡± said Doris Ke, marketing director of Y Closet. ¡°They¡¯re actually our core customers.¡±

Y Closet completed a 50-million-dollar fundraising round last year that was led by Alibaba, Softbank and Sequoia Capital. Now, the company teamed up with Taobao, China¡¯s largest e-commerce platform.

The sharing economy is booming in China. When a good idea emerges, attention will be gathered and capital will rush in. But many players could not even survive their very first year.

¡°Last year, I looked at over 200 sharing economy projects. But to be honest, over 99 percent of them do not exist anymore,¡± said Tan.

How to keep a new idea in sharing economy from this curse of a short life span? Tan suggested two key elements for success: Technology and real demand.

Millennials¡¯ flexible, minimalist and sustainable living styles are expected to help fuel China¡¯s sharing economy in the coming years, while block chain and the internet of things is driving the sector in terms of technology. But analysts say that 2018 will still be a crossroad for the sharing economy because the new technologies still need to mature.
(Feb.22,2018) from:english.gov.cn
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point.gif (302 bytes) State Council promotes separation of business operation permits, licenses in Shanghai

The reform of separating business operation permits from business licenses is to be further promoted in Shanghai Pudong New Area, according to an approval released by the State Council.

A specific work plan was also released, covering the reform in 10 areas: business system, medicine and medical instruments, investment and construction engineering, transportation, permission management of pawnshops, agriculture, medical and healthcare, quality supervision, culture and tourism, and supervision and service.

The work plan asks related pilot work leaders to assume responsibility, and coordinate and solve any problems. Education and training should be enhanced for related staff members. Policy introduction is necessary as it can help people and enterprises get better accustomed to the changes. Unclear work division should be avoided. Supervision and evaluation of the pilot work should be carried out. Successful results should be promoted and duplicated.

The work plan is aimed at effectively defining the functions of business operation permits and business licenses, exploring new technology, new industry, new modes and new products, and promoting an inclusive and deliberate supervision system.

It will also encourage system innovation and government function transformation, and break the systematic barriers restricting enterprises and individuals. Fair market competition is promoted for a better business environment, and help the development of new driving forces. Market vitality and social creativity are to be fully stimulated to spur economy development.
(Feb.12,2018)  from:english.gov.cn
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point.gif (302 bytes) China¡¯s rural transportation network to grow stronger
Winding roads, inaccessible spots and muddy fields have long been the most impressive memories for us traveling in China¡¯s remote and rural areas. But that was before the 18th Communist Party of China (CPC) National Congress, held in Beijing in 2012. If you look at the picture of those places now, you can see a difference and changes could be seen everyday.

Great breakthroughs have been made in transportation reform since the 18th CPC National Congress. The Ministry of Transport says it regards the construction of ¡°Sihao Rural Roads¡± as an important vehicle for completing the building of a moderately prosperous society.

Transport Minister Li Xiaopeng reported that at present, the network of rural roads in the country has reached 3.96 million kilometers. He noted that over 99 percent of townships and 98 percent of established villages were built with asphalt roads and cement roads, and equipped with buses. Poorly constructed roads are a thing of the past. Instead, paved roads and bus services are part of the real lives of 600 million farmers in China.

In 2017, the ministry also achieved remarkable progress in reducing logistics costs by upgrading transport infrastructure, improving transport services, deepening the transport sector¡¯s reform and strengthening new growth drivers for transport development.

Remarkable as China¡¯s achievements in transportation, there¡¯s still much room for improvements in terms of infrastructure construction, services and governance.

Li told the press that even though China is a major transport country, it is only big, not strong. There¡¯s still a long way to go before becoming a powerful transport country. The infrastructure is not good enough, our services cannot fully meet the needs of the people, our logistics are not yet developed, and the costs in logistics are still relatively high.

Making China a stronger country in terms of transportation is a new goal for the government. Li said that the authorities will try hard to build a modern transportation system. ¡°We will build this system with open integration, sharing governance, green wisdom, civilization and trustworthiness.¡±

The government plans to achieve the basic goal of becoming a ¡°strong transport country¡± from 2020 to 2035, and to comprehensively achieve that goal from 2036.
(Feb.11,2018) from:english.gov.cn
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point.gif (302 bytes) Results of Q4 govt website inspection issued
The State Council released a circular on the results of a nationwide inspection of government websites conducted in the fourth quarter of 2017.
As of Dec 1, 24,820 government websites were in operation, including 1,961 affiliated with State Council departments and 32 provincial-level government portal websites.
The State Council¡¯s general office conducted a random inspection of 460 websites, of which 95 percent were qualified. It¡¯s worth noting that the websites of Beijing, Tianjin, Hainan, and the Xinjiang Production and Construction Corps were rated as 100 percent qualified over four consecutive quarters.
All provincial regions and 71 departments of the State Council selected 12,336 websites under their respective administrations, which accounted for 50 percent of government websites with a 96 percent total qualification rate.
Valid messages via platforms for people to mention errors on government websites totaled 14,208 in the fourth quarter, among which 99 percent were answered. For 25 websites selected from the Inner Mongolia autonomous region, Shanghai, Hunan, the Ministry of Public Security and the Ministry of Environmental Protection, the figure reached 100 percent.
Also during the same period, 116 officials were punished or received warnings for running unqualified websites.
In 2017, all regions and departments had inspected 43,139 government websites at all levels. A total of 21,513 websites with poor maintenance were integrated or migrated and 625 officials were held accountable for the substandard websites.
Some problems surfaced in the process, such as unregulated domain names and logos, lack of overall rectification measures, poor interactions with netizens and insufficient security control.
Based on the results of the inspection, the circular urged more efforts to supervise government websites and to provide better government services online.
Regions and departments at all levels should enhance regular website supervision, operationalize correction measures, better interact with netizens to address their concerns, and improve security mechanisms to ensure government websites are safe and reliable.
(Feb. 8,2018 ) from:english.gov.cn
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point.gif (302 bytes)  Yingkou Municipal Government and KPMG sign Framework Agreement on Strategic Cooperation
Yu Gongbin , mayor of Yignkou municipal government, met with Zou Jun, chief partner of KPMG Enterprise Consulting (China) Co., Ltd., before signing the contract.
Yesterday, Yingkou municipal government and KPMG Enterprise Consulting (China) Co., Ltd. signed a strategic cooperation framework agreement. The two sides will have long-term cooperation in the field of business consulting services. Before signing the contract, Mayor Yu Gongbin met with Zou Jun, chief partner of KPMG Enterprise Consulting (China) Co., Ltd., before signing the contract.
(Feb.05,2018)
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point.gif (302 bytes) Promoting the Construction of Comprehensive bonded area in an All-round way
Yingkou held a Party-government Meeting, had a special research on the construction and operation of Yingkou Comprehensive Bonded Zone. Zhao Changfu and Yu Gongbin attended the meeting and delivered speeches.
(Jan.29,2018)

point.gif (302 bytes) Premier: Government Work Report should stand for social consensus
¡°The government, whether in its policymaking or implementation, must stand for social consensus and try its best to enhance reasonableness and democracy in its policies,¡± Premier Li Keqiang said Jan 24 at a symposium.
The symposium was held to solicit advice from leaders of democratic parties and the All-China Federation of Industry and Commerce, as well as those without party affiliation.
He acknowledged that the symposium is a significant practice of socialist deliberative democracy and a step for the State Council to be subject to democratic supervision.
After the guests gave their opinions and advice, the Premier said, ¡°Your advice is very important. It can represent, to a great extent, social consensus and the people¡¯s will. The Government Work Report should include your feedback as much as possible.¡±
He also appreciated the support and help from the three groups. ¡°Over the past five years, you have conducted research on some major issues concerning socioeconomic development and made many insightful suggestions. I and other members of the State Council have read them all and forwarded them to relevant departments.¡±
Noting that this year marks the 40th anniversary of China¡¯s reform and opening-up policy, Premier Li said that making new accomplishments would be one of the best ways to honor the basic State policy.
The Premier urged that more efforts should be made to promote high-quality development and establish a modern economic system. Practical measures should be taken to deepen reform and opening-up, enhance creativity and competitiveness, and ensure better lives and well-being for the people.
He stressed that the Government Work Report should ensure that it reflects the best common desires of the people.
Premier Li encouraged the three groups to continue playing an active role in political consultation and democratic oversight, to give their consistent support and help the government meet the social development and economic growth targets. (Jan.29,2018)
from:english.gov.cn

point.gif (302 bytes)  Made in China 2025 roadmap updated
China aims to become the world¡¯s leading manufacturer of telecommunication, railway and electrical power equipment by 2025, as the country ramps up its implementation of the Made in China 2025 strategy, according to a new roadmap released on Jan 26.
Qu Xianming, an expert involved in drafting the updated version of the Made in China 2025 technology roadmap, said China has already made great strides in the above three areas, but more efforts are needed to crack the bottlenecks of key components in order to achieve global supremacy.
¡°It is not just about production capacity. Instead, we aim to become No 1 in research and development, as well as the application of these products,¡± said Qu, an expert with the National Manufacturing Strategy Advisory Committee, an organization that advises the government on plans to upgrade the manufacturing sector.
According to Qu, home appliances, petroleum refining equipment and construction machinery are also likely to be added into the key areas of Made in China 2025.
¡°It is still under discussion. But if they are added to the list, the central government will roll out measures to assist their development,¡± Qu added.
The first version of the Made in China 2025 technology roadmap was published in 2015. It was designed to guide local governments and enterprises in their manufacturing investment and other business decisions.
But the past two years have witnessed new ideas and technologies pop up, demanding an updated technology roadmap to reflect the new trends and problems in the manufacturing industry.
Xin Guobin, vice-minister of industry and information technology, said China has already become one of the world¡¯s largest producers of more than 220 types of products.
¡°But we are still facing big challenges in producing reliable core components, and many products are still mid-tier to low-end. We hope the roadmap can serve as guidance for companies to cultivate innovation and upgrade their plants,¡± Xin said.
According to the updated roadmap, China¡¯s homegrown robotics, high-end automation and new energy vehicles industries are all likely to rank No 2 or No 3 globally by 2025.
But China will still lag behind some foreign countries in the fields of semiconductors, operating systems and industrial software at that time. (Jan.29,2018)
from:english.gov.cn

point.gif (302 bytes) China to beef up quality certification system
To boost supply-side structural reform and administrative streamlining, China is stepping up efforts to boost quality by enhancing the quality certification system and quality management, according to a circular recently released by the State Council.
As a basic principle, a unified and top-level plan is required, with no possibility for industry monopoly or market barriers. The market should play a decisive role in supply and demand with governmental guidance.
Meanwhile, compulsory and voluntary certification should be combined to call up efforts from all walks of life to enhance quality management.
These efforts are aimed at building a sound quality certification system in three to five years, with improved quality in primary products, projects, services, consumer goods and food, and some internally competitive brands.
International advanced quality management standards will be adopted, such as the new ISO 9001. Companies should be encouraged to enhance quality management using these standards, which are to be introduced throughout the industry and social governance.
Governments at all levels are expected to employ the quality management system to transform their management styles with better administration efficiency and credibility.
Efforts will be made to spread the quality certification system to different enterprises with necessary and compulsory certification in place for products concerning security, health, and environment under the rules of the World Trade Organization.
The quality of new technologies, products and business models should be supervised in an inclusive but prudent way in order to foster new economic drivers and bolster industrial transformation.
Apart from the unified certification system, other redundant certifications and related charges should be cleaned up. Certification institutions should provide an integrated solution from test to certification, to lower costs for enterprises.
Moreover, a supervision system involving different parties will be enhanced, and international cooperation is encouraged for mutual recognition of quality certification. (Jan.29,2018)
from:english.gov.cn

point.gif (302 bytes) China to uproot ¡®protective umbrellas¡¯ of organized crime
BEIJING ¡ª A document issued on Jan 24 stressed that a campaign on organized crime should involve fighting corruption, including lower-level corrupt officials, and deal with ¡°protective umbrellas¡± of gang crime.
Disciplinary agencies should punish Communist Party of China (CPC) members involved in gang crime in disciplinary supervision and inspection, according to the document released by the CPC Central Committee and the State Council.
The document said that disciplinary agencies and political and legal bureaus should find and tackle the corruption behind gang crime.
Disciplinary agencies at all levels should deal with ¡°protective umbrellas¡± and investigate no matter who is involved.
Organized crime is deeply interwoven with corruption and cases related to poverty reduction should be given the highest attention. (Jan.29,2018)
from:english.gov.cn

point.gif (302 bytes) China to make cities safer
BEIJING ¡ª China unveiled a guideline to push for safe development of cities, as some major accidents in cities caused great casualties and property loss in recent years on Jan 7.
The country must uphold the vision of making development people-centered and never seek development at the cost of safety, according to the guideline made public by the general offices of the Communist Party of China Central Committee and the State Council.
By 2020, China aims to achieve ¡°noticeable progress¡± in safe urban development, and create a number of demonstration cities in line with the objectives for becoming a moderately prosperous society in all respects, the guideline said.
By 2035, the country should put in place an improved system for safe urban development and create safe cities that are in line with the requirements for basically realizing socialist modernization, it added.
With the acceleration of China¡¯s urbanization, the population, functions and sizes of Chinese cities have been expanding rapidly, but safety hazards are also on the rise as cities become more complicated.
At the end of 2016, the ratio of permanent urban residents to total population stood at 57.35 percent, up from 52.57 percent at the end of 2012, data from the National Bureau of Statistics showed.
The country must raise the capability of ensuring urban safety and prevent major accidents to create a sound environment for people¡¯s lives and work, according to the guideline.
The notion of safe development should be reflected in making plans for cities, including those for urban social and economic development and for disaster prevention and relief.
For residential areas, commercial areas, development zones, industrial parks and port areas, safety must be the prerequisite in determining their spatial layouts, the guideline said.
Safety-related laws, regulations and standards should be improved to raise the country¡¯s ability to ward off risks and ensure the safe functioning of urban facilities, it said.
¡°Safety must be put in the first place in urban infrastructure construction,¡± according to the guideline.
China should push forward the construction of multi-functional underground pipeline corridors in an orderly manner, and reinforce the safety supervision of the construction and operation of transport, water, drainage, heating, natural gas and other infrastructure projects.
China should also strengthen safety risk control by thoroughly identifying urban safety risks, building a risk information management platform and drawing a map for the distribution of such risks in four tiers, with red representing the most severe, followed by orange, yellow and blue.
The screening and overhaul of urban safety hazards will be standardized by further improving the mechanism for the identification, registration and supervision of major sources of dangers, building a database for dynamic management and raising the online supervision capacity, the guideline said.
Emergency management and rescue capabilities will be reinforced, as the country will pursue fast, scientific and effective rescue efforts, improve the emergency rescue management in cities and push for information sharing and coordination of different departments.
The guideline also detailed measures on raising the country¡¯s safety supervision efficiency, making cities better at ensuring safety and improving leadership and coordination. (Jan.12,2018) from:english.gov.cn

point.gif (302 bytes) Consumer inflation stays within target in 2017
China¡¯s consumer inflation increased by 1.6 percent last year, lower than the yearly control target of 3 percent. Analysts said it will moderately rise by over 2 percent this year, but will not trigger any major monetary policy adjustment.
The Consumer Price Index accelerated to 1.8 percent in December, the National Bureau of Statistics announced on its website.
Weakening food prices are a major contributor to the fall in CPI inflation last month, Sheng Guoqing, a senior statistician of the NBS, said in a statement. Non-food price rises are the main cause of the overall growth, he said.
Whole-year CPI growth came in at 2 percent in 2016, according to the NBS. China set the control target of 3 percent last year.
Looking ahead, the consumer inflation rate could surge in February, in which the Spring Festival falls, analysts said. The seven-day holiday for the festival generally boosts consumption and consumer prices.
Zhu Jianfang, chief economist at CITIC Securities, said CPI growth could reach 3 percent in February and the whole-year reading could rise to 2.5 percent this year.
Huatai Securities forecast in a research note that average CPI growth could be around 2.5 percent this year. If international oil prices rose to about $75 a barrel, China¡¯s inflation could reach 3 percent, it said.
¡°The expected high CPI reading in February could have a short-term impact on monetary policymaking and the financial market,¡± Zhu said.
But for the whole year, moderate CPI growth will not have a major bearing on the current monetary policy stance, said Yan Ling, analyst with China Merchants Securities. Yan forecast whole-year CPI growth of 2.3 percent.
Monetary policy will become neutral this year, analysts said.
¡°This year¡¯s (financial) regulatory focus will be on prevention of risks and cutting leverage,¡± according to a Haitong Securities research note.
China¡¯s Producer Price Index, which gauges factory-gate prices and is a major indicator of business health, rose 4.9 percent from a year earlier in December, compared with 5.8 percent in November. It is the slowest growth in 13 months.
The PPI decline is attributable to the weakening price growth in such sectors as oil and gas exploration, ferrous and non-ferrous metals, and coal mining and washing, which had bolstered the strong growth of PPI in previous months.
For the whole of 2017, PPI rose by 6.3 percent, compared with a drop of 1.4 percent for 2016, reversing the trend of continual PPI decline since 2012. (Jan.12,2018) from:english.gov.cn

point.gif (302 bytes) China steps up taxation reform
According to the State Administration of Taxation, in 2017, taxation issues were mentioned during 24 of 34 State Council executive meetings, including optimization of the taxation system, tax relief, and further improvements in the business environment. This clearly demonstrates that tax occupies an exceedingly important place in governance.
Optimization of taxation system
Value-added tax (VAT) reform was a major concern of the State Council in 2017, for which a succession of arrangements were made, covering streamlining VAT rates, formulating detailed plans, legalizing VAT reform by abolishing business tax regulations, and introducing regulations in environmental protection, among others.
Taxation reform injects tremendous momentum into the development of market economy and plays a significant part in market regulation, economic restructuring, and the upgrading of drivers, said Yue Shumin, a professor at the School of Finance of Renmin University.
Tax relief
Tax relief is also a task of great importance, a key vehicle for a slew of economic policies, including mass entrepreneurship and innovation, sharing economy facilitation, and Made in China 2025.
The implementation work of tax cuts, based on actual conditions, was fulfilled by taxation authorities at all levels, bolstering economic restructuring and safeguarding people¡¯s well-being, said Yang Zhiyong, a researcher at the National Academy of Economic Strategy of the Chinese Academy of Social Sciences.
Further improvements in business environment
Streamlining multiple certificates into one has been in full swing since April, for which the State Council stepped up related legalization and policies in a bid to uphold fairness and equity in the business environment.
In addition, taxation reform also acts as a capable driver, highlighting streamlining administration and delegating power while improving regulation, and enhancing public services. This will boost the construction of an internationalized and market-driven business environment that is fully regulated by the law, said Li Wanfu, head of the tax administration¡¯s Taxation Research Center. (Jan.11,2018) from: english.gov.cn
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point.gif (302 bytes) Laws and regulations for FTZs to be temporarily adjusted
The State Council has decided to adjust some laws and regulations adapted to China¡¯s Free Trade Zones (FTZs), in a bid to better implement the opening-up and reform policies in the zones.
Eleven administrative regulations, including the ship registration rules, two State Council circulars on domestic urban rail transit equipment and city rapid rail transit and another two documents on industries for foreign investment and foreign investment in aviation industry, will be temporarily adjusted in the FTZs, according to the State Council decision.
It also urged related departments and governments of the 11 provincial regions where the free trade zones are established, such as Shanghai Municipality, Fujian, Zhejiang and Henan provinces, to adjust local related laws and regulations to adapt to the changes made by the central government.(Jan.11,2018) from:english.gov.cn

point.gif (302 bytes) President Xi delivers New Year speech vowing resolute reform in 2018
President Xi Jinping delivers a New Year speech to extend New Year greetings to all Chinese, and best wishes to friends all over the world, in Beijing, capital of China, Dec 31, 2017.[Photo/Xinhua]
BEIJING ¡ª President Xi Jinping delivered a New Year speech on Dec 31, vowing that China would resolutely carry out reform in 2018.
¡°We will take the opportunity of celebrating the 40th anniversary of the reform and opening-up in 2018 to further carry out reform, as reform and opening-up is the path we must take to make progress in contemporary China and to realize the Chinese dream,¡± Xi said.
He cited a Chinese adage, saying that the Chinese people would ¡°cut paths through mountains, and build bridges across rivers¡± to move forward on reform.
He extended New Year greetings to all Chinese, and best wishes to friends all over the world.
Xi said the year 2018 marked the first year of fully implementing ¡°the spirit of the 19th National Congress of the Communist Party of China,¡± which outlines China¡¯s desired development blueprint over the next three decades.
¡°Building a high-rise begins with mounds of soil,¡± Xi said, borrowing an ancient Chinese phrase to urge his fellow Chinese to take a step-by-step approach and work hard to turn the blueprint into a reality.
Xi said that by 2020 all rural residents living below the current poverty line should have been lifted out of poverty. It will be the first time in China¡¯s thousands of years of history that extreme poverty is eliminated.
¡°It is our solemn promise,¡± Xi said. ¡°Only three years are left to 2020. Every one of us must be called to action, do our best, take targeted measures to secure victories one after another.¡±
¡°This is a great cause, important to both the Chinese nation and humanity. Let¡¯s do it together and make it happen,¡± he said.
Xi said China¡¯s great achievement of development was made by the people and for the people, and that among the people¡¯s most pressing concerns were education, employment, income, social security, healthcare, elderly care, housing and environmental protection.
The President admitted that there were areas where the government¡¯s work fell short of expectations. Though progress has been made, he said, issues of public concern remain.
¡°That is why we should strengthen our sense of responsibility, and do a good job of ensuring the people¡¯s well-being,¡± Xi said. ¡°The well-being of our people is the Party and the government¡¯s greatest political achievement. Our cadres should put the people¡¯s state of living at the heart, and help them live a better life.¡±
On international affairs, Xi said the world expected to hear China¡¯s stance and attitude on issues concerning peace and development.
¡°As a responsible major country, China has something to say,¡± Xi said.
¡°China will resolutely uphold the authority and status of the United Nations, actively fulfill China¡¯s international obligations and duties, remain firmly committed to China¡¯s pledges to tackle climate change, actively push for the Belt and Road Initiative, and always be a builder of world peace, contributor of global development and keeper of international order,¡± he said. ¡°The Chinese people are ready to chart out a more prosperous and peaceful future for humanity, with people from other countries.¡±
(Jan.02,2018) from:english.gov.cn

point.gif (302 bytes) Economy to remain stable through 2018
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hina¡¯s economic growth results are expected to remain stable not only in 2017 economic reports yet to be released but also in 2018, despite a slight decline in a major index measuring the expansion of the manufacturing sector in December, analysts said.
While there is some variation in the forecast, analysts said the country¡¯s GDP growth may register up to 6.9 percent for 2017.
The official manufacturing purchasing managers index, released on Dec 31, dropped to 51.6 in December, compared with 51.8 in November, according to the National Bureau of Statistics.
Still, the index remained comfortably above the 50-point mark that separates growth from contraction, with numbers above 50 indicating expansion.
¡°The manufacturing sector is stable and improving, a trend that has become more entrenched,¡± Zhao Qinghe, a senior NBS statistician, said in a statement.
The annual average reading of the index for 2017 was 51.6, which is 1.3 points higher than in 2016.
¡°The December reading dropped a little bit, but it still reached the annual average level, indicating that expansion of the manufacturing sector remains strong,¡± Zhao said.
As seen in PMI changes in 2017, the trend of an improving economy has become more obvious, said Chen Zhongtao, an analyst at China Logistics Information Center.
¡°The PMI has remained above 51 and even exceeded 52 in September. The overall trend is stable, with only small monthly fluctuations,¡± he said.
Based on the average monthly reading of PMI, Chen said China¡¯s GDP growth could reach about 6.9 percent in 2017.
Growth in the fourth quarter could reach 6.7 percent and the whole-year growth could be 6.8 percent, said Li Chao, an analyst at Huatai Securities.
China achieved GDP growth of 6.9 percent for the first three-quarters. Analysts generally predicted that growth could dip in the fourth quarter as the effect of environmental protection measures and slowing property sales growth unfolded.
Growth in China¡¯s services industry picked up in December, an official survey showed on Dec 31, as the sector continued to show solid expansion.
NBS also said that China¡¯s official nonmanufacturing PMI rose to 55 in December, up from 54.8 in November.
The services sector accounts for over half of China¡¯s economic growth, and analysts said the strong nonmanufacturing sector expansion, together with the manufacturing expansion, will contribute to the stable GDP growth this year.
The nonmanufacturing index reading has remained above 54 in 2017 except in August.
Qu Qing, an analyst at Hua Chuang Securities, said the construction sector has helped bolster the index, indicating that infrastructure investment remains stable, which will help boost overall economic growth in 2018.
Despite its stable economic growth trend, China also faces some challenges, such as an increase in raw materials prices and rising corporate costs, said Chen of China Logistics Information Center.(
Jan.02,2018) from: english.gov.cn


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