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China's tourism market will speed up recovery with consumption potential expected to increase further during the upcoming holidays, China Securities Journal reported on Tuesday.
The ongoing Hangzhou Asian Games and the upcoming eight-day Mid-Autumn Festival and National Day holiday period will fire China's consumer market, as well as the tourism market is expected to reach a peak, the cnr.cn reported on Monday.
China firmly opposed the U.S. sanctions on Chinese entities and individuals for alleged involvement in the development of Iranian drones and military aircraft, the Ministry of Commerce said on Tuesday.
China Reform Holdings Corp Ltd, a central State-owned enterprise specializing in promoting SOE reform, will establish a fund to support the development of emerging industries, with a target size of over 100 billion yuan ($13.7 billion).
“So I think that the initiative that China has taken in terms of building that infrastructure, and it takes a while, will be a game changer in terms of assisting to bridge the gap between the two continents (Asia and Africa),” Dr. Farhana Paruk, head of Client Engagement at Gordan Institute of Business Science (GIBS) at the University of Pretoria and a former fellow at the Weatherhead Center for International Affairs at Harvard University, spoke positively on the outlook of the Belt and Road Initiative in South Africa and the wider African continent during an exclusive interview recently with China News Network.
China's A-share market may have bottomed out already, so a marked recovery in the fourth quarter of the year might ensue, given the improving economic momentum and investor sentiment.
China and the European Union have agreed to work against decoupling and put in place an export control dialogue mechanism, as part of efforts to safeguard resilient and stable industrial and supply chains.
Chinese cities started implementing lower mortgage rates for first-time homebuyers on Monday.
China has upgraded its digital renminbi payment services as part of the country's efforts to improve the profile of its digital currency and make the payment process more user-friendly for foreigners.
Premier Li Qiang called on Monday for China and Nepal to strengthen high-quality cooperation on joint building of the Belt and Road, with an emphasis on mutual connectivity, to take bilateral relations to a higher level.
Companies from China and Arab states reached cooperation projects worth more than 170 billion yuan ($23.2 billion) during the four-day China-Arab States Expo, which ended on Sunday.
China's emphasis on advancing new industrialization is expected to provide a solid foundation for high-quality economic growth, improve the resilience and safety of its industrial and supply chains, and boost the country's core competitiveness globally.
High-tech hub Shenzhen is set to play a key role in the future of Saudi Arabia as the Gulf nation seeks to reduce its dependence on oil and transition into a more sustainable economy.
The latest adjustments to the home-purchasing restrictions policy and value-added tax exemption period in Guangzhou, Guangdong province, will better support local people in addressing housing issues through market-oriented methods and promote the recovery and development of the residential property market, local authorities and industry insiders said. According to a notice issued by the local government on Wednesday evening, residents with local household registrations, or hukou, in the city's districts of Yuexiu, Haizhu, Liwan, Tianhe, Nansha and some areas in Baiyun district, can only purchase a maximum of two residential properties. Non-locals who can provide proof of having paid individual income taxes or social insurance continuously for the past two years in Guangzhou are limited to buying just one residential property. According to the previous policy, families without local hukou were required to have continuously paid personal income taxes or social insurance for five years. The policy adjustment to purchasing restrictions is conducive to unleashing housing demand among locals, said the Guangzhou Municipal Housing and Urban-Rural Development Bureau. The adjustment mainly targets peripheral areas of the city, with the central urban area still implementing stricter purchasing restrictions. The suburban districts of Huangpu, Panyu and Huadu are not included in the adjustment to property purchase restrictions, according to the notice. "The peripheral areas of the city have a large supply and a relatively longer destocking cycle. Easing purchase restrictions is beneficial to enhance transaction activity in peripheral areas and further stabilize market operations," said Li Yujia, chief researcher of the housing policy research center at the Guangdong Urban and Rural Planning and Design Institute. In a move to invigorate the pre-owned property market, the VAT exemption period for sales of residential properties in the city's Yuexiu, Haizhu, Liwan, Tianhe, Huangpu, Panyu, Nansha and Zengcheng districts has also been adjusted from five years to two. "The adjustment of the VAT exemption period is beneficial to reducing transaction costs in the secondhand housing market and promoting accelerated recovery and development of the existing housing market," said Li. After the policy was announced, there were over 700 additional secondhand housing listings across the city on a single day — Thursday — according to data from Beike, a real estate service agent focusing on sales of used properties. "The VAT adjustment policy will help promote the circulation of commercial housing, thus meeting demand of new residents, young people and migrants settling in the city," Li added. The property market in Guangzhou, which has been rapidly declining since early this year, will gradually stabilize in the remaining months of the year, Li said. According to statistics from the local housing authority, the market for new homes in Guangzhou has been declining for five consecutive months, reaching a new low in absolute transaction levels since November last year.
Russian President Vladimir Putin spoke highly of the Belt and Road Initiative and praised President Xi Jinping's "strategic judgment" of the world situation, in his latest meeting with senior Chinese diplomat Wang Yi.
Premier Li Qiang stressed on Thursday the importance of specialized, high-end and innovation-driven enterprises in securing China's high-quality economic growth, and urged them to play a greater role in stabilizing industrial and supply chains.
The 19th Asian Games highlight the concepts of "culture" and "intelligence" as revealed in a press conference held on Wednesday in Hangzhou, Zhejiang Province. This event showcases a diverse range of cultural expressions and technological innovations.
China has urged the United States to take concrete actions and respect the rules of the World Trade Organization to restore the normal functioning of the WTO dispute settlement mechanism, said the Ministry of Commerce in a statement.
Representatives from more than 110 countries have confirmed their attendance at the third Belt and Road Forum for International Cooperation, Foreign Ministry spokeswoman Mao Ning said on Tuesday.
China cut its holdings for a fourth consecutive month in July to $821.8 billion, a 14-year low, data from the U.S. Treasury Department showed on Monday local time.
MOFCOM has said that the WTO expert panel's ruling contains legal errors regarding the report on the U.S. suing China over the latter’s countermeasures against U.S. tariffs on steel and aluminum.
Representatives from more than 110 countries have confirmed that they will attend the third Belt and Road Forum for International Cooperation in Beijing in October, with preparations for the forum being well underway.
China is expected to keep its benchmark lending rates unchanged on Wednesday, experts said, adding that there is still ample space for policymakers to further step up monetary policy easing in the following months.
Chinese customs have agreed to grant the imports of fresh coconuts from Cambodia and fresh avocados from Venezuela starting from Monday.
Sales of aquatic products from Northwest China's Xinjiang Uygur Autonomous Region have jumped in recent days after going viral on Chinese social media platforms, sparking discussion and buying interest among Chinese netizens.
Against the backdrop of a bleak global economic rebound, the cooperation between China and ASEAN has become a bright spot.
The Belt and Road Initiative has provided significant momentum to the development of foreign trade in the Kashgar region of the Xinjiang Uygur autonomous region.
Li was in Nanning, Guangxi Zhuang autonomous region, to attend and address the opening ceremony of the 20th China-ASEAN Expo and the China-ASEAN Business and Investment Summit on Sunday.
Retail sales of consumer goods in China rose 4.6 percent year-on-year in August, 2.1 percentage points faster than the previous month.
Premier Li Qiang reaffirmed on Sunday Beijing's commitment to a neighborhood policy of amity, sincerity, mutual benefit and inclusiveness in bolstering ties with the Association of Southeast Asian Nations, calling for a closer bond of interests between China and the 10-nation regional group.
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