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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.