20200117 China News

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China News

1Guangdong and Jiangsu were estimated to generate over 10 trillion yuan ($1.45 trillion) with their respective GDPs for the first time in China, while most provinces have downgraded their economic growth targets according to China News Service.


Shanghai will leverage on overall stability and sustained economic momentum to be the role model of China's ongoing reform and opening-up this year along with concerted efforts to reaffirm its position as a bellwether of the Chinese economy to the rest of the world, top officials of the city said on Wednesday.



The Chinese central bank issued full-year financial data on Thursday and indicated stable growth of money supply and credit to strengthen financial support for economic growth.


The phase one trade agreement between China and the United States, signed Wednesday in Washington, showed that the world's top two economies can work out their issues effectively on the basis of equality and mutual respect, Chinese President Xi Jinping said in a message delivered at the deal-signing ceremony.


Manufacturing enterprises in China will benefit from the government's continued efforts to cut value-added tax and fees this year, and the total scale of the reductions in cost for the sector was expected to reach 1.65 trillion yuan ($240 billion) for 2019, officials said.


Building a comprehensive science and technology center in the Guangdong-Hong Kong-Macao Greater Bay Area will help better upgrade industries in Guangdong province, officials said on Wednesday.


Ningbo Zhoushan port, China's busiest port, saw cargo throughput exceed 1.1 billion tonnes in 2019, official statistics showed. This makes the port in eastern China's Zhejiang province the only one in the world to exceed such volume, according to statistics released by Zhejiang port and shipping management center.


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SourceGlobaltimes, Xinhuanet, Chinadaily, Shine, GdtodayChina Plus News

Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham

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