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New infrastructure to boost economic growth

China is counting on investment in the “new infrastructure” sector to fuel its declining economy exacerbated by the coronavirus fallout, as this year's government work report will allocate a large portion of government investment to areas such as 5G and new-energy vehicles (NEVs).
Source: Global Times | 2020/5/24 19:31:28

China's deficit-to-GDP ratio target 'not high' globally: official

China's deficit-to-GDP ratio, set at above 3.6 percent for 2020 in this year's Government Work Report, is moderate seen from a global perspective, a senior official at the National Development and Reform Commission (NDRC) said on Sunday.
Source: Global Times | 2020/5/24 14:53:40

The world faces 10 risk factors in 2020: China's top think tank

Global economic slump and rising international trade and technology conflict are the potential risks facing the world in 2020 amid the raging coronavirus pandemic, according to a report issued by the Chinese Academy of Social Sciences (CASS), a major government think tank.
Source: Global Times | 2020/5/24 12:48:36

China's self-developed amphibious rescue airplane Kunlong to take maiden flight on sea in latter half of 2020

China's self-developed amphibious aircraft AG600, codenamed Kunlong, is expected to take its maiden flight over the sea in the second half of 2020 in East China's Shandong Province, the Aviation Industry Corporation of China announced.
Source: Global Times | 2020/5/24 12:08:40

Livestreaming sales provides new strategy for poverty alleviation: NPC deputy

Livestreaming sales provides a new way to think about poverty alleviation, and the Chinese government should give national endorsement to livestreaming platforms such as Kuaishou which has become a new "golden key" for people in rural areas to increase their income, a deputy to the National People's Congress (NPC) told the Global Times on Saturday.
Source: Global Times | 2020/5/24 1:38:40

China will return to its role as a locomotive of the world's economy: Qatari envoy

wo sessions
Source: Global Times | 2020/5/24 1:28:40

HK's financial center status not to be shaken by proposed security law: experts

China's banking and insurance regulator has set up a special work group for the Guangdong-Hong Kong-Macao Greater Bay Area, which will promote such work plans as establishing international commercial banks in the area. Hong Kong, which plays a leading role in the area's financial construction, will not see its financial center status shaken by proposed security law, experts said.
Source: Global Times | 2020/5/23 17:18:40

China expected to cut interest rates, RRR in H2

China's central bank is highly likely to announce interest rate cuts or reserve requirement ratio (RRR) cuts in the second half of the year to fuel an economic recovery due to blows stemming from COVID-19 amid external uncertainties, Chinese experts predicted, while reading into monetary policy related lines of this year's Government Work Report.
Source: Global Times | 2020/5/23 21:39:14

NPC deputy advocates building up 'Three Gorges on sea' to drive China's ocean economy

China should accelerate the pace in the adjustment of its energy structure to shape a clean energy support belt around the sea by building multiple wind power projects on the sea, an entrepreneur proposed during the ongoing two sessions.
Source: Global Times | 2020/5/23 20:53:40

Sinovac's Beijing vaccine plant with 100 mln per year capacity under construction: report

Sinovac Biotech Ltd, the Chinese vaccine developer that has a lead in the global coronavirus vaccine development pipeline, received $15 million worth of venture capital funds to boost its research work.
Source: Global Times | 2020/5/23 18:13:40

Chinese experts warn of 'ample countermeasures' as US includes more Chinese tech firms on Entity List

China won't back down from the US' quickening technology war mongering against Chinese companies, but will honor the phase one trade deal while developing its own countermeasures, Chinese experts said on Saturday.
Source: Global Times | 2020/5/23 13:02:09

Claim on CPEC-related debt untrue: Pakistan

The claims made by some commentators and public officials on Pakistan's debt obligations to China-Pakistan Corridor (CPEC), a flagship project under the China-proposed Belt and Road Initiative, are contrary to the facts, the Pakistani Foreign Ministry said in a statement Friday.
Source: Global Times | 2020/5/23 7:08:40

China raises opening-up level to foreign investment amid challenges

China will raise the opening-up policy level and stabilize foreign trade amid rising challenges, according to a government work report submitted to the national legislature for deliberation on Friday.
Source: Global Times | 2020/5/22 20:08:40

Chinese govt ready to tighten belt, guarantees key investment

The Chinese government is ready to tighten belt to optimize government spending, reflecting “unprecedented” challenges the economy faces due to the COVID-19 epidemic, while reaffirming the central government's commitment to achieving this year's economic and social development targets.
Source: Global Times | 2020/5/22 19:53:40

'Absolute capacity' for China to lift everyone from poverty this year: expert

China has the "absolute capacity" and confidence to accomplish its poverty alleviation goal in 2020 despite pressure from the COVID-19, as 95 percent of it has been achieved, experts say, as the Government Work Report reaffirmed the country's commitment to bring all residents out of poverty this year.
Source: Global Times | 2020/5/22 18:21:44

China to cut 2.5 trillion yuan in corporate taxes, fees to bolster smaller businesses

China plans to further cut taxes and fees paid by corporations by 2.5 trillion yuan ($353 billion) this year, up 25 percent from last year's target, signaling the country's strong support for smaller firms as they recover from the fallout of #COVID19.
Source: Global Times | 2020/5/22 14:06:15

China's 2020 goals for jobs creation, inflation show pragmatism: experts

China's goal to create 9 million jobs and keep the inflation rate at 3.5 percent reflects the pragmatic view of the challenges faced by the country amid the COVID-19 pandemic and urgency among policymakers to address issues such as unemployment and rising consumer prices, Chinese experts said on Friday.
Source: Global Times | 2020/5/22 9:53:34

Consumption-driven growth to stabilize China's economic fundamentals

One of the biggest tasks for Chinese lawmakers and political advisors as they convene the annual two sessions is to offer the right prescription for the Chinese economy hit hard by COVID-19. This is the first of a multi-part series covering suggestions and proposals that stand out during the occasion about how to boost various growth drivers, including consumption, investment and exports, as well as areas related to livelihoods such as jobs.
Source: Global Times | 2020/5/21 22:28:40