port Hainan in developing the whole island into a pilot free trade zone, the 12th and the largest in the country, to gradually explore and steadily promote the establishment of a free trade port with Chinese characteristics. The Haikou Jiangdong New District covers 298 square kilometers o n the east coast of Haikou, and will have two parts: a 106-sq-km ecological region boasting a key n ational wetland natural reserve, and a 192-sq-km area that will serve both industrial and urban purposes. The provincial government said Haikou should pay great attenti on to ensure that environmental quality is advanced in an all-round way while developingRead More →

ood jobs in areas that are poor, where good jobs are needed,” he said. “We should celebrate that advancement of econ omic opportunity in the United States. And similarly, we should expand US investment in China.” US goods exports to China declined by 7 percent in 2018, as trade disputes between the two economies began to bite, but still outpaced growth in exports to the rest of the world over the past decade, ac cording to the 2019 State Export Report released earlier this month by the US-China Business Council. The report said China continued to be important to US economic growth, supporting more thanRead More →

The Chinese government has accorded priority to achieving stable and expanding employment among its six stabilization tasks. The importance of stable employment has also been highligh ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues. The government is making special efforts to stabilize and expand employment, especially be cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade. The China Institute for Employment Research of Renmin University of China has calculated the employment market index, which shows the healthRead More →

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission. According to Guo, the short-term fluctuation of the RMB exchan ge rate was normal, and the depreciation will not last long given the stable economic growth base. “Any speculative activities to short the RMB will suffer huge losses,” he warned. The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou nd 6.89 per dollar for eight days from May 20, and market watchers saidRead More →

President Xi Jinping’s upcoming visit to Russia reflects close cooperation between China and Russia, which is impo rtant to maintain the stability of the international community amid rising uncertainties, analysts said. Xi will make a state visit to Russia from June 5 to 7 and attend the 23rd St. Petersburg Inter national Economic Forum, Foreign Ministry spokesman Lu Kang announced on Wednesday. The trip is part of the annual exchange of visits between the two countries’ heads of state, after Russian President Vladimir Putin attended the Second Belt and Road For um for International Cooperation in Beijing in April and had talks with Xi onRead More →

types of onshore commodity futures contracts without registering a Chinese entity, and will continuously improve the relate d rules, Lu Dongsheng, an official with the China Securities Regulatory Commission, told a forum on Tuesday Lu also announced other measures to develop China’s commodity fut ures market, such as accelerating the launch of ricThe Shanghai Futures Exchange will open up its nonferrous metals futures contracts to foreign investors, Jiang Yan, Party secretary of the exchange, said at the s ame forum. The bourGuo Shuqing, head of the China Banking and Insurance Regulatory Commissiose will also list a n ew type of futures contract, TSR20 Rubber, whichRead More →

 of stock index futures. At present, onshore stock index futures are unavailable to overseas invest ors, and they can only hedge risks associated with investing in A shares through offshore instruments. “After the stock index futures market opens up, investor bases will dive rsify, helping China’s capital market achieve a higher efficiency in asset pricing,” Wang sai d, adding that capital market reform and opening-up is part of China’s moves to promote quality development. “One of the key priorities this year is to accelerate the development o f direct financing and the capital market, to strengthen the capital market’s capacity to pr omote economic growth,”Read More →

ears to be stabilizing on the back of recently enhanced supportive measures. The report expanded the number of countries it scrutinizes for curr ency manipulation to 21 from 12. Countries with a current account surplus with the US e quivalent to 2 percent of GDP were put on the watch list, compared with 3 percent of GDP before. China didn’t meet the “currency manipulator” criteria listed by the US Treasury, but Washi ngton will continue assessing the RMB’s performance given China’s large trade surplus with the US, the report said. The US Treasury removed India from the watch list, while it added Singapore, Malaysia andRead More →

nt are broadly in line with expectations. Although pro-European Union parties have won a majori ty of the seats, the EP is more fragmented than before with traditional center-right and center-left par ties losing seats to Liberals and Greens, and Euroskeptic parties increasing their vote share. This is likely to make it more difficult for the EU to agree new trade deals and choose new leaders for EU institutions. The heads of government of EU states met on Tuesday to discuss who will fill the top jobs. The new EP and the EU leadership face a difficult international environment, especially on th e trade front.Read More →

uled to become a shareholder of the joint venture by the end of 2019, holding at least 1 percent of i ts equity. According to Chinese norms, it is mandatory for international brands to produce vehicles in China bearing its names. Luca de Meo, CEO of SEAT, said: “China is the benchmark country for electric vehicles. We aim to be a part of this ecos ystem in order to exchange knowledge and make progress in achieving global mobility that is more sustainable.” Currently, JAC, Volkswagen and SEAT are building a 4 billion yuan ($579 million) research and development center in Hefei, which is expected toRead More →