China to boost daily quotas for stock connect mechanism -- Starting from May 1, China will further expand daily quotas for its Shanghai-Hong Kong stock connect and Shenzhen-Hong Kong stock connect in the latest move for wider market opening-up, the China Securities Regulatory Commission (CSRC) said on April 11. The daily southbound quotas for each of the Shanghai-Hong Kong and Shenzhen-Hong Kong connects will be quadrupled to 42 billion yuan (about 6.67 billion U.S. dollars), according to Gao Li, the CSRC spokesperson. Meanwhile, the daily northbound quota, which allows investors in Hong Kong to buy shares in the mainland, will be quadrupled to 52 billion yuan, Gao said.
Shanghai aims to become "exhibition capital" -- Shanghai is speeding up preparations for the first China International Import Expo slated for November, with a target to develop itself into an "international exhibition capital." A leading group has been formed to handle coordination among different departments for the preparation of the expo, Shang Yuying, director of Shanghai Municipal Commission of Commerce, told a press conference on April 10. By the end of March, more than 1,600 businesses from over 120 countries and regions had registered to attend the expo, with exhibitors exceeding 600 in an exhibition area of 120,000 square meters.
Shanghai aims to boost smart manufacturing -- In a bid to reinvigorate its manufacturing sector, the Shanghai municipal government announced an action plan on April 10 to transform and upgrade its physical economy for quality development in the coming three years. According to the plan, technological upgrade investment in Shanghai will reach 69 billion yuan (10.96 billion U.S. dollars) in 2018, covering intelligent manufacturing, new energy vehicles and intelligent network connected automobiles, civil aviation and new generation information technology. The plan aims to make Shanghai's manufacturing more intelligent, high-end, concentrated and clustered, service-oriented, premium, and environmentally friendly. By 2020, Shanghai plans to establish 100 demonstration projects in each of the six sectors, and to promote 5,000 sizable technological reform projects. (Source: China Daily)
Beijing closes 321 pig farms in 2017 -- Beijing shut down 321 pig farms last year to clean the environment and save water. The Survey Office of the National Bureau of Statistics in Beijing on April 8 said the city produced 2.42 million hogs for slaughter in 2017, down 12.1 percent year on year. The city has banned pig farming in regions totalling more than 5,200 square kilometers, nearly one third of the city's whole area, near major drinking water sources, key infrastructures and densely populated areas.
China to boost integrated circuit, microelectronics industry -- China will set up a network platform in Qingdao, a coastal city in east China's Shandong Province, to promote the development of microelectronics. According to the Chinese Academy of Sciences (CAS), the public platform of Electronic Design Automation (EDA) will help local enterprises in the integrated circuit (IC) industry improve design efficiency and reduce development costs. It will provide design, software, intellectual property rights, and technical training services for the firms.
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