China's stock market fell sharply on Tuesday, dragged down by technology shares following a major decline of the tech sector in the US stock market.
East China's Zhejiang province, an economic powerhouse which is renowned for its thriving private sector, is aiming to ease the burden on all businesses in the province by 150 billion yuan ($21.6 billion) this year in a bid to ensure robust growth and add impetus to its private sector, pledged a top official.
Zhejiang Pilot Free Trade Zone is expecting its oil products storage capacity to surpass 40 million cubic meters by 2020, an official said on Monday.
China will select 10 centrally-administered State-owned enterprises as the second batch of pilot State-owned capital investment and operating companies to optimize capital use via diversified forms of operation, the country's top regulator for State assets said on Monday.
The China (Hainan) Free Trade Pilot Zone will continue to deepen reforms and accelerate the establishment of an open, ecological and service-oriented industrial system in line with advanced international standards, a senior official of Hainan province said.
A substantial number of Chinese private companies have been attracted to Hainan since the central government announced in April that it would transform the entire island of Hainan into the country's 12th and largest free trade pilot zone.
Shares carrying the "special treatment" tag sank on Monday as the central authorities clarified rules for delisting aimed at improving market compliance.
The planned withdrawal of China Southern Airlines Co, the largest airline by fleet size in Asia, from the SkyTeam airline alliance signifies less close-knit alliances and more cross-alliance cooperation, analysts said.
Chinese electric carmaker BYD Co Ltd's resounding success in the international arena is perhaps one of the best examples of the nation's reform and opening-up in the last 40 years.
Shenzhen Customs has optimized its procedures and improved efficiency to ensure stable growth of trade in the booming southern city that has ranked first in exports among Chinese mainland cities for 25 years.
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Raymond Zhou
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Chen Weihua
