China's Shaanxi to accelerate dev. of automotive industry -- Northwest China's Shaanxi Province has recently unveiled nine measures to promote development of its automobile industry, according to the local authorities. Shaanxi will set up provincial auto industry development special funds in a total amount of 4 billion yuan, increase financial support to the automobile industry, and promote use of new energy and clean energy vehicles. The Province will guide establishment of seven industrial investment funds to increase investment in the automotive industry. It will accelerate the application of new energy vehicles in the public sector such as public transportation, rental, logistics, etc., and expand the use of methanol, ethanol, and hydrogen fuel-powered vehicles in the province. In addition, Shaanxi will hold the automotive industry international forums under the Belt and Road Initiative, international and domestic automobile events and other activities to expand the influence of its automobile industry.
China issues overview of foreign exchange management policies of B&R countries -- China's State Administration of Foreign Exchange (SAFE) has recently issued the overview of foreign exchange management policies of the countries along the Belt and Road routes, aiming to actively promote the international cooperation under the Belt & Road Initiative and provide much richer policies and information references to market participants. It is reported that the overview is based on the comprehensive annual reports of the International Monetary Fund (IMF) and the official websites of the relevant foreign exchange regulators of the countries to provide knowledge of the current account foreign exchange management, capital and financial account foreign exchange management, personal foreign exchange management, and foreign exchange management of the financial institutions. According to the SAFE, it will update the overview regularly.
Beijing unveils action plan for Beijing-Tianjin-Hebei coordinated dev. in 2018-2020 -- Beijing has recently unveiled an action plan for Beijing-Tianjin-Hebei coordinated development in 2018-2020, according to Beijing Daily on July 30. According to the report, Beijing will increase efforts to phase out non-capital functions in following three years and speed up the exit of general manufacturing enterprises. By 2020, it will move about 1,000 general manufacturing enterprises away. It is worth noting that under the action plan, Beijing will support Xiongan New Area to build three schools and one general hospital and promote construction of the projects such as Zhongguancun Science and Technology Park in Xiongan and the Beijing-Xiongan high-speed intercity rail. Meanwhile, it will accelerate the coordinated development of transportation. By 2020, a "one-hour commuting circle" between central districts of Beijing, Tianjin and Shijiazhuang and their key peripheral towns, and a "one-hour traffic circle" between Beijing, and its surrounding Tianjin, Baoding and Tangshan will be formed.
Securities regulator revises rules on delisting -- China's top securities regulator has amended rules on removing companies from domestic stock exchanges, specifying that companies involved in major breaches of the law that threaten public health or security will face compulsory delisting. Under the new rules, stock exchanges will suspend or delist companies that engage in a variety of unlawful activities including those harming national security, public safety or public health, China Securities Regulatory Commission (CSRC) said. The revision tightens delisting rules made in 2014.
China's ministry to support Hainan in application of new energy vehicles -- China's Ministry of Industry and Information Technology (MIIT) will support south China's Hainan Province to promote application of the new energy vehicles (NEVs) and build a national demonstration area for the application of the NEVs, according to an agreement signed by the MIIT and the Hainan Provincial Government on July 26. According to the agreement quoted by the Hainan Daily, the two sides will deepen cooperation in building a modern manufacturing system, improving information network infrastructure, building a digital province, and promoting the development of military-civilian integration industries. In addition, the ministry will support Hainan to build international submarine cable, set up the bureau of international communication gateway, and explore establishment of a digital free port.
E. China's Jiangsu to promote sustainable marine development -- East China's Jiangsu Province will adhere to overall development of land and sea and the principle of intensive development to promote its marine development, according to a plan released by Jiangsu authorities. By 2020, the province will form an oceanic spatial pattern with more efficient use of resources and more standardized development order and realize the coordination of coastal population distribution and economic layout, resources and environment so as to achieve sustainable development. According to the plan, Jiangsu divided the ocean areas into three types, namely, optimized development area, key development area and restricted development area. To be specific, there are six optimized development areas with a total area of 16,860.4 square kilometers, accounting for 53.65 percent of the province's sea area; two key development areas with a total area of 2,941.5 square kilometers, accounting for 9.36 percent of the province's sea area; and seven restricted development areas with a total area of 9,647.9 square kilometers, accounting for 30.70 percent of the Province's sea area.
N. China's Hebei to further expand opening-up of service industry -- North China's Hebei Province will further expand opening-up of its service industry and strive to enhance proportion of the industry in utilization of foreign investment to about 35 percent and see the amount of the foreign investment exceed 4 billion U.S. dollars in about three years, the Xinhua-run cnstock.com quoted the local authorities as saying on July 26. The province will improve the international functions of coastal ports, broaden international aviation logistics channels, and promote construction of commodity trading centers involving energy and raw materials in Tangshan Port and Huanghua Port. In terms of the innovation and opening-up of financial services, Hebei will build financial innovation clusters to attract various financial institutions to settle down. It will encourage national financial institutions to set up branches and subsidiaries in Xiongan New Area.
S. China's Hainan to invest over RMB12 bln to consolidate optical network foundation -- South China's Hainan Province plans to invest more than 12 billion yuan in the period from 2018 to 2020 to consolidate the optical network foundation and actively deploy the 5G, according to a three-year action plan for information infrastructure construction released by the local authorities. The action plan proposed that Hainan will accelerate the construction of external communication transmission channels, intensify efforts to build optical networks in rural areas, further enhance the network quality along the high-speed train line circling the island, strengthen network coverage and satellite Internet access in nature conservation areas, and actively plan and deploy 5G networks to develop next-generation mobile Internet.
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