China writing its book in its own way

"Crossing the river by feeling the stones" as former leader Deng Xiaoping put it metaphorically, is how China started implementing reform and opening-up in 1978. Reform began in a gradual, experimental manner, by first allowing farmers to farm their own land on long lease and build township-and village-level companies. The establishment of special economic zones followed, which helped build an export-oriented economy and attracted foreign capital. And the foreign companies that flocked to China with money and expertise helped its economic growth.

Fiscal steps to maintain growth pace

China's fiscal revenue increased at a steady rate of 10.6 percent on an annualized basis during the first half of this year with fiscal spending in key sectors growing at a faster pace and sustaining economic growth, the Ministry of Finance said on Friday.

Medical device makers hit by tariffs

US medical device makers could lose $138 million this year as a result of the 25 percent US tariffs on Chinese imported goods that went into effect last week, and they may cause some manufacturers to downsize and cut research and development.

Norway optimistic about burgeoning demand for salmon

The Norwegian fishery industry is looking to further consolidate its gains in China, after notching up a fivefold growth in salmon exports during the first six months of the year.

Alibaba helps NZ seafood traders

With lobsters already accounting for 70 percent of its seafood exports to China, New Zealand is looking to make further inroads into the market by cutting down the delivery time of its shellfish to 16 hours through a partnership with e-commerce giant Alibaba.

IN BRIEF (Page 5)

Fujian facility to lift chip supply

The country's largest single integrated circuit manufacturing facility, Fujian Jinhua Integrated Circuit Co Ltd, is expected to fill the gap in the domestic market for memory chips after the completion of the first phase of its construction in September.

Framework to boost ethical cooperation

A total of 25 major industrial associations from the pharmaceutical, medical device producer and medical care community signed an ethical cooperation framework in Beijing in July in a bid to improve business integrity and professional ethics in the industry.

Payment demands may come at a price for US

The meeting of 29 Western leaders at the NATO headquarters in Brussels that started on Wednesday has once again revealed the rift between the United States and its allies in Europe.

No safe havens for fugitives

Xu Chaofan, former head of the Kaiping sub-branch of Bank of China in Guangdong province, has been returned to China from the United States to face trial on charges of embezzlement and corruption, the top anti-corruption watchdog said on Wednesday.

Trade bullying self-destructive

THE LATEST PROPOSED TARIFFS from the Trump administration underline its trade bullying and add fuel to the spiraling tensions in the trade war between the United States and China. Xinhua News Agency comments:

NATO's biggest threat now Trump administration

IN A SUMMIT of the North Atlantic Treaty Organization in Brussels on Wednesday, US President Donald Trump unleashed a barrage of criticism against NATO, saying that the NATO members' tariffs on US goods are unfair given that they are protected by the United States. He also criticized Germany for being a "captive" of Russia, because of their gas business, and urged the NATO members to increase their defense outlay to 2 percent of their gross domestic product immediately, not by 2025 as it was agreed four years ago. Guancha.cn comments: