China to incentivize consumption of products, services from poor areas -- China will encourage the consumption of goods and services provided by people living under the poverty line to increase their income, according to official guidelines released on January 14. The country will offer incentives for public and private institutions to purchase goods produced in the impoverished regions, while expanding the sales channels of farm produce in these areas, according to the guidelines released by the State Council. Product quality in poor areas should be enhanced while local infrastructure should be improved so that rural tourism could be developed, according to the guidelines.
China plans to boost sports consumption to 1.5 trillion yuan by 2020 -- Sports consumption in China is expected to reach 1.5 trillion yuan (about 221 billion U.S. dollars) by 2020, according to a two-year national plan for boosting sports consumption issued on January 15. China's General Administration of Sport and its National Development and Reform Commission released the plan to expand domestic sports consumption with an aim of steady growth in per capita consumption expenditure. The plan focused on the development of recreational sports including water sports, outdoor sports, and marathon to stimulate consumption, while the Beijing 2022 Olympic Winter Games will provide an opportunity for the winter sports industry to undergo a boom in growth. According to the plan, China will also provide more facilities for the public to exercise in order to inspire a general commitment to lifelong wellness.
China to issue 5G temporary license in some cities in 2019 -- China will issue 5G temporary licenses in several cities in 2019, so as to help some cities and hot spots to take the lead in achieving large-scale 5G networks and quicken the industrialization and network construction of 5G terminals, said Miao Wei, head of China's Ministry of Industry and Information Technology, at an interview on January 10. He also noted that 5G products such as 5G mobile phones and 5G iPads which can be truly used commercially will be put on the market in the second half of 2019.
China's Hainan issues plan for health industry dev. in 2019-2025 -- South China's Hainan Province has recently issued a plan for development of the health industry from 2019 to 2025, aiming to initially build itself into a leading intelligent health island in 2025. The island province plans to expand scale of the health industry, optimize the industrial structure and enhance the innovation capacity in the industry. It will advance the development of the health industry in two steps, said the local authority. From 2019 to 2020, the province will further improve and upgrade the infrastructure related to the smart health island, continuously optimize the business environment, and expand supplies of the diversified, personalized and high-quality health services. The province's health industry targets a 5-percent share in its GDP in 2020. From 2021 to 2025, the province will speed up development of the health industry and promote high-quality development of the industry. It will strive to make the added value of the health industry account for 10 percent of the province's GDP in 2025.
China unveils blockchain management regulations to ensure healthy dev. -- The Cyberspace Administration of China (CAC) on January 10 released the regulations to manage the blockchain information services, effective from February 15, 2019. The regulations aim to clarify the responsibility of blockchain information service providers, standardize and promote the healthy development of blockchain technology and related services, and prevent the security risks of such services. According to the regulations, new products, new applications or new functions developed and launched by the blockchain information service providers must be filed to relevant cyberspace regulators for safety assessment. The blockchain information service providers are required to implement the real-name registration for users.
China expected to accelerate piloting IPR securitization in 2019 -- China is expected to accelerate the securitization of Intellectual Property Rights (IPR) on a trial basis said Shen Changyu, head of the State Intellectual Property Office (SIPO), at a meeting about the IPR on January 7. According to Shen, China will further promote the comprehensive utilization of IPR, in financial sector in particular. Policies will be released to boost financial innovation of IPR, improve the risk compensation and sharing mechanism, promote the mixed pledge of patents and trademarks and encourage the development of comprehensive intellectual property insurance. IPR serves as the foundation for the development of an innovative economy, said analysts.
China speeds up market integration in Yangtze River Delta region -- Local authorities in China's Yangtze River Delta region have recently signed a memorandum of cooperation to jointly promote the market integration in the region, marking a step further towards the regional integration. Under the memorandum, Shanghai, Jiangsu, Zhejiang, and Anhui will gradually realize unified market rules, credit governance, and market supervision under the guidance of the Ministry of Commerce (MOC) and the State Administration for Market Regulation, and jointly promote the integration of market systems in the Yangtze River Delta region. In addition to the local action, the National Development and Reform Commission (NDRC) is now compiling a plan for integrated development of the Yangtze River Delta, representing the top-level design for the regional development.
Guangzhou eyes more cooperation with HK, Macao in 2019 -- South China's Guangzhou city said Tuesday that it would cooperate with Hong Kong and Macao to speed up construction of the Guangdong-Hong Kong-Macao Greater Bay Area in 2019. The capital of Guangdong Province will work with the two special administrative regions to build a world-class urban agglomeration and a tech innovation corridor linking Guangzhou, Shenzhen, Hong Kong and Macao, said Guangzhou mayor Wen Guohui. Wen made the revelation while delivering the government work report to the annual session of the city's people's congress. During the event, the city also announced its 2019 budget of 19 billion yuan (2.8 bln U.S. dollars) to support the Greater Bay Area, which aims to boost joint development of Guangdong, Hong Kong and Macao.
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