Setting the GDP growth target at around 5.5 percent this year is crucial for China's policymakers to better anchor market expectations as the Chinese economy faces downward pressure, said Xu Gao, chief economist at Bank of China International.
The 2022 Beijing Winter Olympics is expected to be a "touchstone" of the digital RMB application, according to Li Lihui, former president of the Bank of China in an exclusive interview with China Daily.
The benchmark Shanghai Composite Index crossed the 3,600 point mark on Thursday on the back of strong buying support. The index closed at 3610.86 points, up 0.54 percent from Wednesday, making it the second time this month that it has rallied strongly. The smaller Shenzhen Component Index too rose by 1.19 percent to 14,893.59 points.
As the RCEP trade agreement is planned to go into force next year, the General Administration of Customs has been working on a slew of measures, in a move to build up a market-oriented, legalized and internationalized port business environment, said Dang Yingjie, deputy director-general of the National Office of Port Administration.
China's efforts to quicken the rollout of the fifth-generation or 5G wireless technology will spur a wide range of new applications in consumer and industrial sectors, which will accelerate the strong momentum already propelling the development of the nation's digital economy, experts said.
Already exported to and applied in over 70 countries, Chinese vaccines offers a hope for the world to rein in the COVID-19 virus. China has promised to make its vaccine a global public good accessible and affordable to developing countries.
Although the COVID-19 pandemic sprang an unpleasant, unprecedented and unexpected surprise on China’s residential property sector last year, a combination of factors will likely ensure the situation will improve beyond expectations this year, industry experts said.
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