China should liberalize its capital account controls and foreign exchange rate controls at a speed that benefits its economic growth, says Yu Yongding, a member of the Chinese Academy of Social Sciences.
During the next 10 years, China's economic growth will depend largely on whether the huge consumer potential of its 1.3 billion citizens is fully utilized, and whether it can transform its development model from one being driven by investment and export to one driven by consumption.
China's foreign trade got off to a rocky start in 2015, declining 10.8 percent in January compared with the previous year to 2.09 trillion yuan ($334.4 billion), according to figures by the General Administration of Customs. Exports reached 1.23 trillion yuan, a 3.2 percent drop, while imports nosedived by 19.7 percent to 860 billion yuan. After seasonal adjustments, the decline in all three categories narrowed somewhat, but still fell into the red.
Everyone who has come into contact with China must probably be musing about Spring Festival now, because it is that time of the year when more than 2 billion trips are made across the country for family reunions. Many foreigners living and working in China celebrate two "New Years" - one on Jan 1 and the other either later that month or in February.
With the development of websites advertising short-term rentals, growing numbers of young people in China are renting out their spare rooms online, attracting travelers from home and abroad with their hospitality and unique spaces.
Chinese websites offering short-term rentals are attracting growing numbers of tourists because of their excellent prices and the "home away from home" experience they offer.
Imagine making yourself at home in a stranger's bedroom and kitchen. You can chat, shop and dine with them as if they were friends, and they will show you around the attractions in their town. It's called home swapping, which means that two parties agree to exchange their homes for a set period of time with no money changing hands.
For people who have big travel dreams but no money, crowdfunding among friends and strangers is one way to pay for a trip - as long as you can provide value for money.
Domestic consumption surpassed investment to become the strongest driving force of the Chinese economy in 2014, indicating a new growth model has already started forming as the country enters a "new normal" development era, the National Bureau of Statistics said on Thursday.
China's economy looks headed for a soft landing. At least that is what BHP Billiton Ltd and Australia's central bank chief Glenn Stevens are signaling more than 5,600 kilometers away.
Currency volatility is poised for its biggest weekly drop since 2010 after Federal Reserve Chair Janet Yellen reiterated on Wednesday that the central bank's timetable for raising interest rates is flexible.
Indian Prime Minister Narendra Modi's vision of bullet trains and jam-free roads connecting gleaming cities lit by reliable power faces an obstacle: the difficulty of achieving infrastructure spending goals.
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