China, Argentina ink MoU to enhance e-business cooperation -- China's Ministry of Commerce (MOC) and the Ministry of Production and Labour of Argentina recently signed a memorandum of understanding (MoU) on e-business cooperation, according to MOC. According to the MoU, the two sides will jointly establish an e-commerce cooperation mechanism, to enhance the e-commerce cooperation under the Belt and Road Initiative.
China to build 20,000 national forest villages by 2020 -- China will continue to enhance ecological environment in villages, bring the green coverage rate in rural areas to 30 percent and build 20,000 national forest villages by 2020, according to Liu Dongsheng, deputy director of the National Forestry and Grassland Administration on December 5. Liu made the above remarks at a national village afforestation and beautification conference in Guilin city, south China's Guangxi Zhuang Autonomous Region. According to incomplete statistics, during the 12th Five-year Plan period (2011-2015), the country completed greening of a total of 13.826 million hectares of rural areas and 1.637 million kilometers of roads.
China rolls out new measures to beef up employment -- China is offering new incentives for companies to keep people in work, for startups and small businesses and for job training. The measures are contained in a document issued on December 5 by the State Council which said they are aimed at helping to stabilize corporate development. The document said that insured enterprises with no or few layoffs can get back 50 percent of unemployment insurance premiums that they paid in the previous year. For those with temporary production difficulties but with space to recover, the proportion will be bigger. Small and micro enterprises will have easier access to loans. The state financing guarantee fund, which aims to provide support for financing guarantee projects backed by local governments, will play an active role in supporting small and micro businesses.
China to issue new measure for social credit system -- China will take enterprises' credit data into consideration in the approval procedure of initial public offerings as part of the effort to develop a national social credit system, the China Daily reported on December 4. Enterprises with past records of untrustworthiness will be strictly examined by the securities regulator when applying for initial public offerings and the issuance of convertible bonds, according to a memorandum of understanding issued last week by the China Securities Regulatory Commission (CSRC) and the National Development and Reform Commission (NDRC).
China unifies bond market law enforcement -- Chinese bond market regulators will conduct unified law enforcement in response to violations in the fast-growing market. The central bank and the top economic planner will play a supporting role in the law enforcement of the China Securities Regulatory Commission (CSRC), according to a document jointly released by the three regulatory bodies. The CSRC is responsible for identifying illegal activity, including insider trading and manipulation in transactions of bonds on the interbank and exchange bond markets, and imposing punishment on violators.
Wealth management center likely to be set up in sub-center of Beijing -- Beijing is planning to create a wealth management center in Tongzhou District, the sub-center of Beijing, to facilitate wealth management development and improve the attraction of the sub-center. Wealth management industry has become an important part of financial industry in recent years. A wealth management center with international competitiveness and regional influence will be built in the city's sub-administrative center to improve the entire industrial chain of the wealth management, said Yin Yong, deputy mayor of Beijing. The wealth management center will be located in canal business district of Tongzhou Distrcit. The construction of infrastructure such as integrated pipe corridors has been basically completed, and 16 development projects of the first phase have started to attract investment.
N China's Tianjin release three-year action plan for cruise tourism development -- North China's Tianjin city released a three-year action plan (2018-2020) on November 28 to improve the competence of the city's cruise tourism. Primary task set up by the plan is to enhance the international visibility of Tianjin's cruise tourism, mainly through introducing more international cruise travel routes and increasing the number of cruises leaving and arriving at Tianjin port to 130 and the number of inbound and outbound tourists to 800,000 annually by 2020. The city will also further strengthen the coordinated cruise tourism development in Beijing-Tianjin-Hebei area, by designing travel routes that connect tourism resources of the region and exploring "sea plus air" tourism products.
China releases blue paper on poverty alleviation -- Important progress has been made in poverty alleviation efforts by Chinese enterprises, a "blue paper" released on December 5 has concluded. The document from the State Council Leading Group Office of Poverty Alleviation and Development and the Chinese Academy of Social Sciences (CASS) said this was the result of increased investment. A total of 583 listed enterprises reported their annual investment on poverty alleviation, totaling 6.47 billion yuan (942 million U.S. dollars). The average investment of each enterprise is about 11 million yuan. The top 10 enterprises on spending have helped more than 500,000 poor people, according to the paper.
A single purchase
