China to further open up service sector: NDRC -- China's National Development and Reform Commission on June 15 released a blueprint for development of service sector from 2017 to 2025. The blueprint aims at further opening up the sector to expand engagement in the global industrial chain and boosting competitiveness. The blueprint highlights reform efforts to unleash the sector's vitality, including streamlining regulation, encouraging market competition and improving standardization.
Panama, China establish diplomatic relations -- Panamanian President Juan Carlos Varela announced on June 12 in a televised speech that the Republic of Panama and the People's Republic of China have established diplomatic relations. China set up an office of commercial development in Panama in 1996. Since then, the two countries have maintained cooperation in various fields. Formal diplomatic relations between the two countries were established after Panama cut its ties with China's Taiwan.
China to set up pilot zones for green finance, cut red tape for industries -- The State Council, China's cabinet, on June 14 announced its decision to set up pilot zones for green finance to support its industrial upgrading and to further cut red tape. The pilot zones will be in Guangdong, Guizhou, Jiangxi and Zhejiang provinces and Xinjiang Uygur Autonomous Region.
Top Chinese think tank to cooperate with World Food Prize Foundation -- The Chinese Academy of Social Sciences signed a memorandum with the World Food Prize Foundation here on June 12 to promote sustainable development of agriculture. On the sidelines of a high-level think tank symposium on U.S.-China relations held in the capital of Iowa State, the two sides agreed to encourage exchange of visitors and publications and to boost joint research activities. They also vowed to cooperate on global and regional food security issues.
China, Luxembourg sign deals on finance, aviation -- China and Luxembourg on June 12 signed cooperative agreements in finance and aviation during Luxembourg Prime Minister Xavier Bettel's visit. Chinese Premier Li Keqiang said in talks with Bettel that China hopes to enhance cooperation with Luxembourg in the areas of trade, investment, finance, aviation and steel, and China is ready to discuss cooperation with Luxembourg on development of third-party markets and people-to-people exchanges.
China supports social capital to invest in new energy vehicle -- Private capital is encouraged to flow into new energy vehicle (NEV) production so as to boost the healthy development of the NEV market, China's top economic planner said on June 12.The country will also assist conventional automobile enterprises to restructure to use NEVs and optimize capacity layout of the conventional oil-fueled automobile industry by encouraging mergers and restructuring.
China expands tax breaks for small businesses -- China will expand tax breaks for small businesses in a move to reduce corporate burden and support economic growth. The Ministry of Finance and the State Administration of Taxation authorities said on June 7 that from Jan 1, 2017 to Dec 31, 2019, small businesses with an annual taxable income of no more than 500,000 yuan ($73,599) have their corporate income tax base halved, with a tax rate of 20 percent. This is the third time that the tax break coverage is expanded since the beginning of 2015.
Chinese regulator warns against unregistered offshore corporate debt -- China's top economic planner on June 13 issued a risk warning as some Chinese companies, including China Water Affairs Group and Mengniu Dairy, one of the country's dairy giants, have issued offshore corporate debt without filing registrations to the government. Chinese authorities have tightened financial regulations nationwide in recent months to ward off systemic risks in the sector and guarantee long-term growth.
Guangdong to strengthen marine industry cooperation with B&R countries -- Guangdong Provincial Ocean and Fishing Department and Guangdong Provincial Development and Reform Commission jointly issued the 13th Five-Year Plan of Guangdong Provincial Marine Economic Development on June 7. According to the plan, Guangdong will develop a new marine industry system with international competitiveness, strengthen marine ecological environmental protection and improve its abilities in maritime exploration and comprehensive management, so as to develop itself into a province with strong marine economy. (Source: Belt and Road Portal)
Guangdong strengthens economic ties with Israel -- A delegation from China's southern province of Guangdong, led by Hu Chunhua, chief of Guangdong Provincial CPC Committee, on June 11 wrapped up a four-day visit to Ireland, where they expressed strong interest in furthering economic and trade cooperation with the island country in west Europe. The delegation attended the Guangdong-Israel Economic and Trade Cooperation Meeting held in Tel Aviv on June 7 and witnessed the signing of 21 agreements worth US$1.47 billion.
(Source: Chinadaily.com.cn)
Guangzhou promotes 2017 Fortune Global Forum in Chicago -- Guangzhou, the host city of the 2017 Fortune Global Forum, held here a promotion event on June 8, to woo enterprises from the U.S. Midwest to invest in the city in southern China. "The 2017 Fortune Global Forum" is not only a matter of Guangzhou, it is also a platform where the (thinking of) global top 500 enterprises, economists and scholars collide to create wisdom," said Cai Chaolin, vice mayor of Guangzhou, during a roadshow for the forum scheduled to be held in Guangzhou in early December.
Int'l symposium on Belt and Road kicks off in Macao -- The International symposium on Belt and Road and Macao's development kicked off in China's Macao Special Administrative Region (SAR) on June 8 to discuss Macao's role in the construction of the Belt and Road. Macao SAR Chief Executive Chui Sai On said at the opening ceremony that Macao will seize the opportunities of the Belt and Road and continue to promote its economic diversification and improve people's livelihood.
A single purchase
