Elevator maker Otis China has increased R&D investment to accelerate the development of innovative products
China and the United States are very likely to reach a consensus on further opening up China's financial sector in their ongoing trade talks, the country's top banking and insurance regulator said on Tuesday.
China will push ahead with supply-side structural reform in the financial sector to help private enterprises solve financing difficulties and reduce financing costs, said Guo Shuqing, Party secretary of the People's Bank of China and chairman of the China Banking and Insurance Regulatory Commission.
The highly anticipated science and technology innovation board will work as the test field to pilot a registration system for China's A-share market, Yi Huiman, the newly appointed chairman of the China Securities Regulatory Commission, said during the ongoing two sessions.
Chint Group, China's leading industrial electrical equipment and new-energy enterprise, is looking to expand its presence in foreign markets, with mergers and acquisitions remaining a major strategy.
A key topic for discussion at this week's Two Sessions meetings will be how to carry out financial reform to reduce the risks of overcapacity in industries such as steel, cement, and real estate sectors and also to limit shadow banking and the so-called wealth management products - high return investment products that are often sold, but not guaranteed, by banks.
The nation will drive a new generation of self-developed driverless magnetic levitation trains with a designed speed of 200 kilometers per hour into the market by March 2020, the head of its manufacturer said on Monday.
Taking advantage of monetary easing and infrastructure investment may no longer be sustainable methods of supporting economic growth, political advisers said on Monday, as tackling the slowdown in economic growth requires new motivation from the service and consumption sectors.
China should further strengthen its guidance in establishing a data sharing and usage mechanism, and encourage local authorities to explore and establish intelligent transportation solutions, Robin Li, chairman and CEO of leading Chinese search engine Baidu Inc, said on the sidelines of the annual two sessions.
China is forecast to spend 900 billion yuan ($134 billion) to 1.5 trillion yuan on 5G network construction from 2020 to 2025, as the nation strives to commercialize the superfast fifth-generation wireless technology, a think tank affiliated with the country's top industry regulator said on Monday.
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