China extends pilot plan to mortgage rural land rights -- China's top legislature on December 27 approved a decision to extend a pilot program allowing farmers in selected areas to mortgage their land use rights and housing property rights. Approved in December 2015, the pilot program for mortgaging contracted land use rights tried out in 232 regions in Beijing and that for mortgaging rural property rights was tested in 59 localities in Tianjin. The pilot program was scheduled to expire on Dec. 31, 2017. The decision made on December 27 means the pilot program will be extended for one year until Dec. 31, 2018.
China to gradually expand foreign access to education, culture, medical service fields -- China’s Ministry of Commerce (MOC) will significantly cut market access restrictions on foreign investment next year and gradually expand foreign access to the life service fields including education, culture and medical treatment, according to Tang Wenhong, head of Department of Foreign Investment Administration under MOC, at a briefing on December 25, quoted by the Xinhua-run cnstock.com. The ministry will deepen opening-up of the manufacturing industry, accelerate opening-up of the producer service sector, and properly advance the opening-up of the financial industry next year to further guide confidence and expectation of the foreign investment, said Tang.
China sets schedule for becoming strong trading nation -- China's Ministry of Commerce on December 25 determined to turn China into a "strong economic and trading nation in all respects" by 2050. In the past five years, China's domestic consumption, foreign trade and investment all surpassed most other economies, laying a solid foundation for economic and trade strength, Minister of Commerce Zhong Shan said at a meeting. Before 2020, China should consolidate its position as a large economy and trader. The goal of becoming a strong trading nation should "be basically realized" by 2035 and be accomplished in all respects by 2050, according to Zhong.
China improves entry-exit service -- A total of 901 police stations in China's 15 provinces, autonomous regions and municipalities have set up entry-exit service windows, according to the Ministry of Public Security (MPS). People can have their travel certificates for Hong Kong, Macao and Taiwan endorsed at 7,600 self-service devices in over 950 entry-exit administrative departments nationwide, the MPS said. Electronic travel permits for commuting between the mainland and Taiwan replaced the booklet-like Taiwan pass in April. Holders of electronic exit-entry certificates may use the self-service channel. Entry-exit administrative departments nationwide have issued 199 million electronic entry and exit certificates, according to the MPS.
China to promote application of 5G national standards in B&R countries -- China will promote application and implementation of its national standards including 5G and smart city in the countries along the Belt and Road routes, according to an action plan recently released by the Standardization Administration of China. Under the action plan, China will deepen cooperation on infrastructure standardization and support facility interconnection network construction in the period of 2018-2020. By 2020, China will constantly enhance compatibility of its standards with the international standards and standards of other countries.
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