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The emerging service sector also grew very fast, Meng said.
In April, the information transmission industry, along with software and inform
ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.
Online retail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m
onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.
She said the transformation of traditional industries is speeding up as they combine with information technology.
“Through implementing national big data and internet plus strategies, internet, big da
ta, and artificial intelligence technologies have been widely used in China’s real economy,” she said
oing supply-side structural reform, as it is still dominated by the 268-trillion-yuan banking system, the analysts said.
The restructuring process will accelerate as more foreign capital
moves in, which can boost competition in the domestic market, the analysts added.
In the medium term, continued financial reform and more opening-up measures co
uld boost capital inflows, said Lillian Li, a vice-president at rating agency Moody’s.
But trade disputes between China and the United States and uncertainty over monetary policy in global markets may dam
pen capital inflows, and the pace of capital inflow is likely to fluctuate in the near term, she said.
Having the world’s second-largest equity market and the third-largest bond market, China will likely usher in more inte
rnational capital flows in the longer term, if the nation further liberalizes its financial system, she added.
tween China and economies related to the Belt and Road Initiative ex
ceeded $130 billion between 2013 and 2018, injecting new growth momentum into BRI-rela
ted countries and contributing to recovery of the global economy, senior Chinese officials said on Monday.
China’s direct investment in BRI-related countries grew by 5.2 percent a
nnually on average to surpass $90 billion between 2013 and 2018, Song Lihong, an officia
l in the Ministry of Commerce’s Comprehensive Department, said at a news conference.
Song said that in the same period, China had received a total of
$40 billion in inbound investment from BRI countries as two-way investment deepened.
Within the five years, the value of the projects completed
by Chinese companies in BRI economies amounted to $400 billion, Song said.
The value of trade in goods between China and BRI-related economies exceeded $6 trillion in the same period, an av
rage annual growth of 4 percent, higher than the overall growth of China’s foreign trade, he added.
by the smugglers, Sun said. Busts were made in several locations, which were not disclosed. The case is still under investigation.
Since early this year, 182 smuggling cases involving endangered species have been investigated, the administration said on Monday.
More than 500 tons of endangered animals and animal products were seized, 8.48 t
ons of which was ivory tusks or products made of ivory. In those cases, 171 suspects were detained.
The Chinese government suspended imports of ivory and all ivor
y products in 2015 and ended commercial processing and sale of ivory at the end of 2017.
The ban has had significant positive effects, with fewer people purchasing ivory, according to a report j
ointly released last year by the World Wildlife Fund and TRAFFIC, an NGO that tracks the global trade in wild animals.
“We will strengthen our anti-smuggling efforts, continuing to work with international organizations and depart
ments and allowing no tolerance of those illegal activities,” said Hu Wei, deputy director of the administration.
mmercial Aircraft Corporation of China, Ltd. (COMAC), for example. At the earliest, COMAC will get the airworth
iness certificate for C919 in 2021. Besides, just obtaining the certificate does not reduce even a bit of the difficulty in making and delivering the aircraft.
As the history of aircraft manufacturing shows, it is almost impossible for manufacturer
s to obtain airworthiness certificate and deliver aircraft to the purchasers on time. More often than not, aerospace companies ta
ke several years more than the promised time to deliver the aircraft. For instance, both Boeing 787 Drea
mliner and Airbus 380 were delivered years behind schedule. Which means delayed delivery is a norm in the aerospace industry.
In short, it would take decades for Chinese manufacturers to mass-produce airplanes irrespective of the rise and fall of other aircraft makers.
China has made great strides in industrialization during the 40 years of reform and opening
-up, but for that it learned from developed countries’ experiences and put its own experiences to good
use. The complete system of research, development, safety, production, supply chain and service that took Boein
g and Airbus decades to establish should be what Chinese aircraft manufacturers should strive for. With continuo
us efforts, C919 could earn its place in the civil aviation industry－perhaps 10, even 20, years later.
that was put forward by Xi, and the initiative is expected to promote the interconnectivity of the Eurasian continent.
The BRI is also a road of cultural exchanges, he said, adding that Italy would like to enhance cooperation with China in tourism and culture. Italy ad
mires China’s achievements in economic development, and it appreciates China’s opening-up policies, he said.
Both Italy and China are ancient civilizations, and the people of the two countries have sufficient wisdom to deal with
challenges nowadays, he said, adding that China’s rejuvenation will bring new contributions to peace and prosperity.
China will take a solid step toward becoming a high-income country this year,
reating more space to deepen reform and expand opening-up, economists said on Friday.
A more balanced growth pattern will help the world’s second-largest ec
onomy pass the “middle-income trap”, with consumption and high-tech man
ufacturing leading growth, they said at a Beijing seminar leading up to the 2019 China Development Forum, which starts on Saturday.
en’s rights and speaking out against the death penalty — it is utterly outrageous that Ir
an’s authorities are punishing her for her human rights work,” said Philip Luther, Amnesty Int
ernational’s Middle East and North Africa research and advocacy director, in a statement on Monday.
Last June, Sotoudeh was arrested at her home in Tehran and taken to Evin prison, a notorious jail just outside the capital.
According to Amnesty International, Iran conducted its “worst” crackdown in a decade in 2018, arresting over 7,000 dissidents.
Women in Iran have been protesting the obligatory Islamic headscarf by taking theirs off and waving them on sticks.
Sotoudeh, a winner of the European Parliament‘s Sakharov Prize for Freedom of Thought, is serving a jail sentence for a secon
d time. In 2010, she was sentenced to 11 years in prison on charges related to her work defending detained Iranian dem
onstrators during the 2009 Green Movement, a protest movement sparked by widespread accusations of electoral fraud.
Minister of Commerce Zhong Shan said a slew of measures will be taken this year to boost China’s social consumption, such as improving urban consumption, to promote
consumption upgrades, expand rural consumption, and develop service consumption while optimizing service supply.
The country will upgrade a number of pedestrian streets, optimize the layout of convenience stores, and encourage brand development and franchising.
The country will promote “selling agricultural products to the cities, while selling industr
ial products to the countryside”.hina’s investment environment is expected to become more stab
le, open and transparent, as the draft foreign investment law stipulates foreign enterprises will receive pre-established nati
onal treatment plus a negative list management system, according to the Ministry of Commerce on Saturday.
The foreign investment law is expected to help establish an environment where foreign co
mpanies can compete fairly in China, and better protect the legitimate rights and interests of foreign investors, Wang
Shouwen, vice-minister of commerce, said at a news conference during the two sessions.
Wang also cited that the law will protect the intellectual property rights of foreign investors an
d encourage technology cooperation based on voluntary principles and commercial rules.