China's mobile game market is suffering from its slowest revenue growth in a decade, amid tighter regulation of a market that experts think is reaching saturation point.
The Ministry of Industry and Information Technology, China's top industry regulator, said on Wednesday that it is optimistic about the nation's automotive sector in 2019, with demand from small cities expected to grow while more old car models will exit the market this year.
Property prices in the nation's major cities remained stable in December as pre-owned home prices in top-tier cities declined month-on-month, and both the new and used residential price growth rate moderated in second and third-tier cities, the National Bureau of Statistics said on Wednesday.
China's foreign direct investment (FDI) in the United States fell by more than 80 percent in 2018, and the downturn is expected to continue, given tighter US regulatory screening and policy shifts at home, analysts said.
Consumption patterns of wealthy individuals in China are undergoing a sea change with the focus shifting from materialistic purchases to family experiences like travel and food tastings, a new report said on Wednesday.
China plans to roll out more measures to stabilize growth amid downward pressure but will not resort to a massive stimulus package, according to senior officials with the nation's top financial regulators.
Several Chinese provinces and municipalities have released economic forecasts for last year's growth, and some of them downgraded their economic prospects for this year amid the expected global downturn.
China's top economic regulator has approved the construction of the Lawa hydropower station along the Jinsha River in the junction of Sichuan province and the Tibet autonomous region, in an effort to increase renewable energy supply and boost local development, said its official website on Tuesday.
Authorities in Guangzhou, the capital of Guangdong province, have planned to establish a futures exchange, a commercial bank and an international financial island to facilitate the overall development of the Guangdong-Hong Kong-Macao Greater Bay Area, according to a senior government official.
Mortgage rates for first-time homebuyers in Shanghai witnessed their first decline in over 23 months during December, marking the 11th straight month in a row that the city had the lowest interest rate across the nation, according to data from online loan search platform Rong360.com.
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