Global-China Information Service

Abstract : China's Ministry of Commerce on Monday announced its decision to launch anti-subsidy probe on wine imports from Australia. BEIJING, Aug. 31 (Xinhua) — China’s Ministry of Commerce on Monday announced its decision to launch anti-subsidy probe on wine imports from Australia . The probe on wines in containers holding two liters or less is expected to end before Aug. 31, 2021, but may extend to Feb. 28, 2022 in certain circumstances, according to a statement on the ministry’s website. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI). Source: China starts anti-subsidy probe on wine imports from Australia

Abstract : Authorities in Beijing on Sunday unveiled a detailed plan for its core area for the 2018-2035 period, ushering in a new era for the city with a history of thousands of years. Photo taken on June 10, 2020 shows the view after renovation of the former residence of Shen Jiaben, a leading Chinese judicial reformer in the Qing Dynasty (1644-1911), in Xicheng District of Beijing, capital of China. (Xinhua/Ju Huanzong) BEIJING, Aug. 30 (Xinhua) — Authorities in Beijing on Sunday unveiled a detailed plan for its core area for the 2018-2035 period, ushering in a new era for the city with a history of thousands of years. Based on the plan that was initiated in 2017, the focus of the core area, covering about 92.5 square kilometers, will be on China’s political center and other functions. The goal of the plan is to build a core area with sound administrative environment, cultural appeal and ideal living conditions. It also stresses protecting the city’s cultural and historical he

Abstract : Chinese telecom equipment maker ZTE saw surges in both operating revenue and net profit in the first half-year despite the challenges posed by the COVID-19 pandemic. SHENZHEN, Aug. 30 (Xinhua) –Chinese telecom equipment maker ZTE saw surges in both operating revenue and net profit in the first half-year despite the challenges posed by the COVID-19 pandemic. The company said in its earnings report filed to the Shenzhen Stock Exchange on Friday that it realized a net profit of 1.86 billion yuan (about 271 million U.S. dollars) attributable to common shareholders in the first half of 2020, up 26.3 percent year on year. The company’s operating revenue increased by 5.8 percent year on year in the first six months to reach 47.2 billion yuan. The report showed that ZTE continued to increase its investment in 5G research and development, reaching 6.64 billion yuan in the first half, accounting for 14.1 percent of its operating revenue. Meanwhile, ZTE earned 34.97 billion yuan

Abstract : As the COVID-19 epidemic tapers off in the country and pent-up consumption demand gradually unleashes, China's economic recovery in the second half of the year will gain more momentum. BEIJING, Aug. 31 (Xinhua) — As the COVID-19 epidemic tapers off in the country and pent-up consumption demand gradually unleashes, China’s economic recovery in the second half of the year will gain more momentum. China’s national Consumer Confidence Index led 24 countries surveyed including the United States, India and Brazil in August by rebounding to 72.9 points, becoming the only economy to show a gain from January, the world’s leading market research company Ipsos reported earlier last week. The consumer confidence index, which reflects customers’ outlook of economic situations, income level and purchasing sentiment, is a leading indicator for predicting economic trends and consumption tendency. Data from the National Bureau of Statistics echoed with the trends. China’s retail sa

Abstract : China's top banking and insurance regulator has approved the establishment of a new agricultural reinsurance company to enhance financial service in the agricultural sector. BEIJING, Aug. 30 (Xinhua) — China’s top banking and insurance regulator has approved the establishment of a new agricultural reinsurance company to enhance financial service in the agricultural sector. The new reinsurance company, with registration capital worth 16.1 billion yuan (about 2.34 billion U.S. dollars), will be co-sponsored by nine institutions including the Ministry of Finance, China Reinsurance (Group) Corporation and Agricultural Development Bank of China, according to the China Banking and Insurance Regulatory Commission. The move is part of government efforts to boost financial services in order to support rural vitalization, which involves measures to improve the agricultural reinsurance system. Zhu Junsheng, a researcher with the Development Research Center under the State Co

Abstract : The Bank of China, one of the country's big four state-owned lenders, said its net profits plunged 11.51 percent year on year in the first half of 2020 (H1). BEIJING, Aug. 30 (Xinhua) — The Bank of China, one of the country’s big four state-owned lenders, said its net profits plunged 11.51 percent year on year in the first half of 2020 (H1). The bank registered 100.92 billion yuan (about 14.65 billion U.S. dollars) in its net profit attributable to equity holders in the first six months of this year, according to its H1 report. During the period, the bank’s operating income rose 3.24 percent year on year to 285.71 billion yuan, according to the report. As of the end of the second quarter, the total assets stood at 24.15 trillion yuan, a 6.07-percent increase compared with the prior year-end. Asset quality of the bank remained stable with the outstanding non-performing loans (NPLs) came in at 198.38 billion yuan as of the end of June, while its allowance for loan im

Abstract : The Agricultural Development Bank of China (ADBC), the third-largest bonds issuer in the country, issued bonds worth 10 billion yuan (about 1.45 billion U.S. dollars) to overseas investors for nurturing high-standard farmland. BEIJING, Aug. 30 (Xinhua) –The Agricultural Development Bank of China (ADBC), the third-largest bonds issuer in the country, issued bonds worth 10 billion yuan (about 1.45 billion U.S. dollars) to overseas investors for nurturing high-standard farmland. The five-ye ar and seven-year policy bank bonds, each worth 5 billion yuan, were issued through public bidding at the Shanghai Stock Exchange, the first time this year for the ADBC to issue financial bonds at stock exchanges. Creating high-standard farmland serves as a foothold for implementing rural vitalization and agricultural supply-side structural reform, and it is vital for ensuring China’s food security, said the ADBC. By the end of July, the policy bank has issued 140.1 billion yuan worth

Abstract : Korla pears, the most popular variety of pears in northwest China's Xinjiang Uygur Autonomous Region, is seeing increasing sales thanks to expanding market promotions. URUMQI, Aug. 24 (Xinhua) — Korla pears, the most popular variety of pears in northwest China’s Xinjiang Uygur Autonomous Region, is seeing increasing sales thanks to expanding market promotions. The specialty fruit, known for its fragrance and juicy flesh, is mostly grown in the city of Korla. Currently, it is the harvest season for Korla pears. Over 500,000 tonnes of Korla pears would be reaped from 455,000 mu (about 30,333 hectares) of pear trees this year. The local government has launched a string of promotional activities in east, central and southwest China, with a 93,000-tonne pear order made in the city of Changsha, capital of central China’s Hunan Province, last week. The Korla pear made into the list of geographical indications products commonly recognized and protected in China and the Eur

Abstract : The tropical resort Sanya, in southern China, is seeing increased foot traffic after bylaws were made to spur its nighttime economy, and help its pillar industry of tourism recover. HAIKOU, Aug. 26 (Xinhua) — The tropical resort Sanya, in southern China, is seeing increased foot traffic after bylaws were made to spur its nighttime economy, and help its pillar industry of tourism recover. As twilight falls, tourists could been seen enjoying local delicacies and night views on yachts in Sanya Bay. A survey by Baidu Maps on the vitality of Chinese cities put this city, in south China’s Hainan Province, at the top in terms of nightlife for the second quarter. Hainan reported 171 cases of COVID-19 , and has not reported new cases since mid-June. In July, the Sanya Phoenix International Airport logged 1.38 million passengers, up by 30.28 percent from June this year, according to the local tourism bureau. The Sanya Commerce Bureau created a nightlife guide for tourists, and

Abstract : The 2020 Shanghai Tourism Festival is set to run from Sept. 12 to 27, the organizers said Friday. SHANGHAI, Aug. 28 (Xinhua) — The 2020 Shanghai Tourism Festival is set to run from Sept. 12 to 27, the organizers said Friday. With an aim to bring a feast of culture and tourism to those in attendance, the event will feature a wide range of multi-themed activities including a Huangpu River tour, night tour and countryside park tour. Products related to culture and tourism will also be launched during the festival. Provinces and cities across the Yangtze River Delta will jointly participate in the festival, setting up special venues in the cities of Nantong, Wenzhou and Huangshan, launching cross-provincial tourist activities and sharing tourism facilities, information and tourist resources. The festival will also promote online and offline consumption with tourism and culture companies like Trip.com Group and Meituan Dianping, as well as other online platforms, i

Abstract : China is seeing a surge in the number of enterprises related to artificial intelligence (AI) as entrepreneurs flock to capture growth in the area, data showed. BEIJING, Aug. 23 (Xinhua) — China is seeing a surge in the number of enterprises related to artificial intelligence (AI) as entrepreneurs flock to capture growth in the area, data showed. As of Thursday, the country saw more than 210,000 newly registered AI-related enterprises this year, surging by 45.27 percent year on year, according to data from database query platform Tianyancha.com. Nearly 950,000 companies in China have business in the areas of artificial intelligence, robots, data processing, cloud computing, voice and image recognition, and natural language processing, showed the data. The size of China’s AI software and application market is expected to reach 12.75 billion U.S. dollars by 2024, according to global market intelligence firm International Data Corporation. Enditem About Xinhua Silk Road

Abstract : China's trade with the ASEAN stood at 2.51 trillion yuan (about 362 billion U.S. dollars) in the first seven months, up 6.6 percent year on year. — China’s trade with the ASEAN stood at 2.51 trillion yuan (about 362 billion U.S. dollars) in the first seven months, up 6.6 percent year on year. — The expansion in China-ASEAN trade has been partly buoyed by the implementation of an upgraded China-ASEAN Free Trade Area (CAFTA) protocol since October 2019. — As ASEAN nations eyed recovering their economies hit by the pandemic, Chinese e-commerce giants such as Alibaba and JD.com have provided the businesses with access to one of the world’s largest markets. — Besides traditional trade, China and ASEAN countries are also conducting high-tech industry cooperation. Photo taken on May 27, 2020 shows a container truck carrying Vietnamese lychees exported to China at Kim Thanh II International Border Gate in Vietnam’s northern Lao Cai province, which borders

Abstract : Despite a coronavirus-triggered recession looming large for the world, China remains a gold mine for global investors amid the country's unswerving efforts to create a better business environment with easier market access, more benefits, and improved services. BEIJING, Aug. 27 (Xinhua) — Despite a coronavirus -triggered recession looming large for the world, China remains a gold mine for global investors amid the country’s unswerving efforts to create a better business environment with easier market access, more benefits, and improved services. According to the World Bank’s Doing Business 2020 report, China has made greater progress in the 2005-2020 period than any other large economy in terms of facilitating the ease of doing business, with its global ranking rising to the 31st position among 190 economies globally from the 78th in the 2018 report. A MAGNET WITH IMPROVING BUSINESS ENVIRONMENT Foreign direct investment (FDI) into the Chinese mainland, in

Abstract : German carmaker Volkswagen will pilot its autonomous-driving travel service in China as the first license plate for road tests was issued to the company on Wednesday. HEFEI, Aug. 27 (Xinhua) — German carmaker Volkswagen will pilot its autonomous-driving travel service in China as the first license plate for road tests was issued to the company on Wednesday. The road testing is scheduled in September this year in Haiheng Community of Hefei, capital of east China’s Anhui Province, aimed at optimizing user experience, according to Volkswagen Group China. The testing area covers 16 square km, with a total road length of 80 km, along which the vehicles are expected to pass by schools, shops, parks, hospitals and residential communities. Volkswagen plans to test the first batch of 10 autonomous-driving electric vehicles with passengers on board in early 2021. Some 400,000 residents in the area will be able to hail a self-driving car using a mobile app. Weiming Soh,

Abstract : The aggregate balance in Hong Kong's banking systems hit a nearly three-year high with a strong local currency and a continuous capital influx, reassuring investors about the stability of the global financial center. HONG KONG, Aug. 25 (Xinhua) — The aggregate balance in Hong Kong’s banking systems hit a nearly three-year high with a strong local currency and a continuous capital influx, reassuring investors about the stability of the global financial center. The Hong Kong Monetary Authority (HKMA) injected 643 million Hong Kong dollars into the market on Tuesday to ensure the exchange rate of the currency against the greenback stay within a range between 7.75 and 7.85 under the Linked Exchange Rate System. After the move, the aggregate balance of Hong Kong banks rose to 188.38 billion Hong Kong dollars. The Hong Kong dollar has remained strong since April as its exchange rate against the U.S. dollar hit 7.75 for more than 30 times, pointing to great market demand f

Abstract : A freight train carrying tonnes of cargo including electronic products and daily necessities departed Wednesday from Chengdu, capital of southwest China's Sichuan Province, for Tilburg, the Netherlands. CHENGDU, Aug. 27 (Xinhua) — A freight train carrying tonnes of cargo including electronic products and daily necessities departed Wednesday from Chengdu, capital of southwest China’s Sichuan Province, for Tilburg, the Netherlands . The cargo train brought the accumulative trips made by China-Europe freight trains on the Chengdu route to 6,000 since the route was launched in 2013, according to the administrative committee of the Chengdu International Railway Port. The China-Europe freight trains on the Chengdu route have transported goods worth nearly 200 billion yuan (about 29 billion U.S. dollars), it added. The international freight train service connects Chengdu with 55 overseas cities and 16 Chinese cities. Enditem About Xinhua Silk Road Xinhua Silk

Abstract : BGI Genomics Co., Ltd., China's genomics giant, reported surging profits in the first half (H1) of 2020 due to strong demand for its COVID-19 test kits. SHENZHEN, Aug. 27 (Xinhua) — BGI Genomics Co., Ltd., China’s genomics giant, reported surging profits in the first half (H1) of 2020 due to strong demand for its COVID-19 test kits. Its net profit edged up 734.2 percent year on year to 1.65 billion yuan (about 240 million U.S. dollars) in the January-June period, BGI Genomics said in its interim financial report filed with the Shenzhen Stock Exchange. During the period, the company said it earned revenue of 4.11 billion yuan, a year-on-year increase of 218.1 percent. In the first six months of 2020, the gene sequencing firm in Shenzhen spent 169.96 million yuan on research and development, up 11.7 percent year on year. Driven by strong business growth, shares of BGI Genomics soared 4.59 percent to close at 145.72 yuan Thursday in Shenzhen. Enditem About X

Abstract : Chinese State Councilor and Foreign Minister Wang Yi held talks with Norwegian Foreign Minister Ine Eriksen Soreide in Oslo on Thursday. OSLO, Aug. 27 (Xinhua) — Chinese State Councilor and Foreign Minister Wang Yi held talks with Norwegian Foreign Minister Ine Eriksen Soreide in Oslo on Thursday. Wang said that while the global COVID-19 pandemic has not yet ended, China and Norway have conducted face-to-face communication, which not only demonstrates our respective confidence in defeating the epidemic, but also signals that against the backdrop of regular epidemic prevention and control, the two sides will resume personnel exchanges in an orderly manner and restart mutually beneficial cooperation in various fields. He said that China and Norway should strengthen solidarity and coordinate and cooperate with each other, so as to play a constructive role in speeding up the recovery of the world economy and meeting global challenges. Wang put forward three s

Abstract : Shanghai Petroleum and Natural Gas Exchange (SHPGX), a national oil and gas trading center, started trial operation of its online international LNG trading platform on Friday, bringing China’s international LNG trade business into the digital era. BEIJING, Aug. 28 (Xinhua) — Shanghai Petroleum and Natural Gas Exchange (SHPGX), a national oil and gas trading center, started trial operation of its online international LNG trading platform on Friday, bringing China’s international LNG trade business into the digital era. Sinopec and CNOOC respectively reached LNG purchase deals with foreign counterparts through the trading platform on Friday, with total trade volume at 130,000 tonnes. CNOOC and Total struck the first deal. “We are pleased to be part of the first steps towards an international LNG trading platform under the auspices of the Shanghai Exchange,” said Laurent Vivier, President Gas at Total said. China is well placed to successfully establish a liquid and rele

Abstract : China maintained the second position as Zambia's major source of imports during the month of July, the country's statistics agency said on Thursday. LUSAKA, Aug. 27 (Xinhua) — China maintained the second position as Zambia’s major source of imports during the month of July, the country’s statistics agency said on Thursday. The Asian nation accounted for 18.7 percent of Zambia’s imports in July, according to figures released by the Zambia Statistics Agency. The major import products were mineral or chemical fertilizers with nitrogen, phosphorus and potassium accounting for 16.2 percent of the import bill from China. South Africa was Zambia’s major source of imports in July accounting for 36.2 percent while India was third with 4.5 percent. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,

Abstract : Huawei Angola expects to complete a technology park worth 60 million U.S. dollars by December 2021, the Chinese telecom company said here Thursday. LUANDA, Aug. 27 (Xinhua) — Huawei Angola expects to complete a technology park worth 60 million U.S. dollars by December 2021, the Chinese telecom company said here Thursday. The announcement was made by Chu Xiaoxin, representative of Huawei in Angola, after a meeting with Angolan Vice President Bornito de Sousa. Chu said that the technology park, under construction in Talatona district in the capital, will comprise three centers for training Angolan engineers, innovating new technologies and exchanging advanced technological experience. He said that despite the COVID-19 pandemic, Huawei considers the Angolan market as one of the most important in Africa. Last week, Huawei signed a memorandum of understanding with the Angolan Ministry of Foreign Affairs about talent training in information and communication technol

Abstract : China's spending on research and development (R&D) hit a record high at 2.23 percent of its GDP in 2019, up by 0.09 percentage points from the previous year, data from the National Bureau of Statistics (NBS) showed Thursday. BEIJING, Aug. 27 (Xinhua) — China’s spending on research and development (R&D) hit a record high at 2.23 percent of its GDP in 2019, up by 0.09 percentage points from the previous year, data from the National Bureau of Statistics (NBS) showed Thursday. China’s total expenditure on R&D amounted to 2.214 trillion yuan (about 321.3 billion U.S. dollars) last year, up 12.5 percent, or 246.57 billion yuan compared with that in 2018, according to a report jointly released by the NBS, the Ministry of Science and Technology and the Ministry of Finance. The figure has seen double-digit growth for four consecutive years, with the growth pace of last year quickening by 0.7 percentage points from the previous year, said Deng Yongxu, an N

Abstract : China's auto manufacturing sector saw the decline in its profits narrow in the first seven months of 2020 as the auto market maintained recovery momentum, industry data showed. BEIJING, Aug. 28 (Xinhua) — China’s auto manufacturing sector saw the decline in its profits narrow in the first seven months of 2020 as the auto market maintained recovery momentum, industry data showed. The sector’s profits fell 5.9 percent year on year to 251.45 billion yuan (about 36.5 billion U.S. dollars), narrowing 14.8 percentage points from the drop seen in the first half of the year, according to the China Association of Automobile Manufacturers (CAAM), citing data from the National Bureau of Statistics. The sector’s profits accounted for 8.1 percent of the total profits among industrial companies with annual revenue of more than 20 million yuan, up 0.5 percentage points from the share for the January-June period. Business revenue of the sector stood at 4.07 trillion yuan,

Abstract : Chinese online entertainment platform Bilibili Inc. on Thursday reported a 70 percent growth in revenue in the second quarter (Q2) of 2020, as its growth strategy continues to attract more users and business partners. SHANGHAI, Aug. 27 (Xinhua) — Chinese online entertainment platform Bilibili Inc. on Thursday reported a 70 percent growth in revenue in the second quarter (Q2) of 2020, as its growth strategy continues to attract more users and business partners. Total revenue topped 2.62 billion yuan (about 380 million U.S. dollars) in the quarter, an increase of 70 percent from the same period in 2019, significantly ahead of market expectations, the Nasdaq-listed company announced in its unaudited financial report. Bilibili’s average monthly active users hit 172 million, representing an increase of 55 percent from the same period of last year, while its average daily active users reached 51 million, up 52 percent year on year. Revenue from mobile games increased

Abstract : The number of China-Europe freight trains handled by the customs of Alataw Pass, a major rail port in northwest China's Xinjiang Uygur Autonomous Region, has exceeded 3,000, the customs authority said. URUMQI, Aug. 28 (Xinhua) — The number of China-Europe freight trains handled by the customs of Alataw Pass, a major rail port in northwest China’s Xinjiang Uygur Autonomous Region, has exceeded 3,000, the customs authority said. The number of China-Europe freight trains passing through the port reached 3,018 on Wednesday, up 41 percent year on year, with more than 2 million tonnes of cargo worth over 105.7 billion yuan (about 15.3 billion U.S. dollars) transported. During the COVID-19 global pandemic, the freight trains have played a crucial role in helping stabilize the international industrial and supply chains due to the limited air and sea transport. The customs said they have implemented measures such as optimizing the customs clearance process to boos

Abstract : Economic ministers from China and the Association of Southeast Asian Nations (ASEAN) members on Thursday welcomed the robust growth of their bilateral trade and investment despite impacts of the COVID-19 pandemic. People attend the eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting via video conference in Hanoi, Vietnam on Aug. 27, 2020. Economic ministers of the 10 Association of Southeast Asian Nations (ASEAN) members and from China, Japan, South Korea, Australia , and New Zealand on Thursday underscored the significance of the RCEP in post- COVID-19 pandemic recovery. (VNA via Xinhua) HANOI, Aug. 27 (Xinhua) — Economic ministers from China and the Association of Southeast Asian Nations (ASEAN) members on Thursday welcomed the robust growth of their bilateral trade and investment despite impacts of the COVID-19 pandemic. At the 19th AEM (ASEAN Economic Ministers)-MOFCOM (China’s Ministry of Commerce) Consultations held via vide

Abstract : Beijing on Thursday launched an innovation base for the Beidou satellite navigation industry, aimed at accelerating the development of high-tech industries, and improving the Beidou industrial ecology in the capital city. A carrier rocket carrying the last satellite of the BeiDou Navigation Satellite System (BDS) blasts off from the Xichang Satellite Launch Center in southwest China’s Sichuan Province, June 23, 2020. (Xinhua/Jiang Hongjing) The innovation base will bring together advantageous enterprises and institutions in all links of the industrial chain to provide integrated services, such as product development, industry incubation, international cooperation, industry exchange, and application experience. BEIJING, Aug. 27 (Xinhua) — Beijing on Thursday launched an innovation base for the Beidou satellite navigation industry, aimed at accelerating the development of high-tech industries, and improving the Beidou industrial ecology in the capital city.

Abstract : XPeng Inc., a leading smart electric vehicle (EV) manufacturer in China, made its debut on the New York Stock Exchange (NYSE) on Thursday, trading under the ticker symbol of "XPEV." NEW YORK, Aug. 27 (Xinhua) — XPeng Inc., a leading smart electric vehicle (EV) manufacturer in China, made its debut on the New York Stock Exchange (NYSE) on Thursday, trading under the ticker symbol of “XPEV.” XPeng priced its initial public offering of 99.7 million American depositary shares (ADSs) at 15 U.S. dollars per ADS, above the range of 11 dollars to 13 dollars given by the company, for a total offering size of approximately 1.5 billion dollars. Each ADS represents two Class A ordinary shares of the company. Credit Suisse Securities, J.P. Morgan Securities, and BofA Securities are acting as joint bookrunners for the offering. XPeng’s CEO He Xiaopeng told Xinhua that the listing was a milestone for the company as it offered an opportunity for his team to better com

Abstract : China's central bank Thursday continued to pump cash into the banking system via reverse repos to maintain liquidity. BEIJING, Aug. 27 (Xinhua) — China’s central bank Thursday continued to pump cash into the banking system via reverse repos to maintain liquidity. The People’s Bank of China injected 100 billion yuan (about 14.51 billion U.S. dollars) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to the central bank. The move was intended to maintain reasonable and ample liquidity in the banking system, the central bank said. As 160 billion yuan of reverse repos matured Thursday, the operations led to a net withdrawal of 60 billion yuan from the market. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. China pursues a prudent monetary policy in a more flexible and appropriate way, according to this year’s

Abstract : While the COVID-19 epidemic is taking a toll on the real economy, China's financial authority has managed to bail small businesses out and help them fare better with targeted policy instruments. BEIJING, Aug. 27 (Xinhua) — While the COVID-19 epidemic is taking a toll on the real economy, China’s financial authority has managed to bail small businesses out and help them fare better with targeted policy instruments. The People’s Bank of China (PBOC), China’s central bank, devised two credit instruments in early June: the loan extension support tool which aims to encourage banks to defer businesses’ inclusive loan repayments and the credit loan support tool which is designed to step up loan issuance. As an indication that the effects of the two instruments have become visible, outstanding inclusive loans for small and micro businesses went up by 27.5 percent year on year at the end of July, said Gao Fei, an official with the PBOC. BUSINESS VITALITY To help enterpris

Abstract : Forty-two countries and regions have confirmed participation in the 2020 China International Fair for Investment & Trade (CIFIT) and the Belt and Road Investment Congress, according to local authorities. XIAMEN, Aug. 26 (Xinhua) — Forty-two countries and regions have confirmed participation in the 2020 China International Fair for Investment & Trade (CIFIT) and the Belt and Road Investment Congress, according to local authorities. This year’s CIFIT, to be held from Sept. 8 to Sept. 11 in Xiamen, east China’s Fujian Province, will focus on themes including new infrastructure, digital economy, and scientific and technological innovation. The fair will have an exhibition area of around 110,000 square meters, with the Philippines as the guest country of honor, and north China’s Shanxi Province as the guest province of honor. CIFIT has cooperated with Alibaba Group this year to set up an online platform providing video-conference services to the main participa