Agreements for 16 projects with a total investment of 23.6 billion yuan ($3.44 billion) were signed on Tuesday on the sidelines of the ongoing Annual Meeting of the New Champions 2019, also known as the Summer Davos Forum, in Dalian, Liaoning province.
China's further opening up is providing win-win benefits. Further opening up will help improve the efficiency of capital allocation and can reduce financial risks in China's economy, and ultimately help build a more stable and sustainable economic and financial system. In a broader context, China's long-term growth will also benefit other nations, particularly with regard to overseas investors who seek to achieve long-term returns and manage short-term risks.
The planned addition of a new area to the China (Shanghai) Pilot Free Trade Zone aims at a higher level of opening-up and deeper reform in broader fields, and is not just a simple expansion in space or a duplication of FTZ policies, a top official from Shanghai said on Tuesday.
The second China International Import Expo (CIIE) will be carried out on a larger scale and a higher level, aiming for better quality and stronger innovation results, Shanghai Mayor Ying Yong said at a news conference on the city's core competitiveness on Tuesday.
The Chinese market will soon witness the first joint venture firm where a foreign company will take an absolute controlling stake as part of the deeper opening up of the country's financial sector.
China's manufacturing sector contracted slightly in June according to the latest purchasing managers indexes, but factory activity may pick up later given the indexes' structural improvements and potential policies to boost consumption, analysts said on Monday.
Optimism is on the rise in the financial market after the leaders of China and the United States agreed to resume trade talks during the weekend. Policy observers said that it eased negative sentiment among investors and was an opportunity to reheat the global economy.
The government's widening market access for foreign investors in mining and the cancellation of restrictions on the exploration and development of petroleum and natural gas represent a precious opportunity for foreign oil, gas and mining companies, and have been well received by multinational corporations.
The new industry catalog encouraging foreign investment shows China's determination to further open up its economy and bolster international cooperation, which will help the nation to achieve high-quality development, experts said.
Siemens Mobility, the transportation unit of German industrial conglomerate Siemens AG, announced on Monday it will provide the fully automated propulsion system solutions for the first phase project of Beijing's mass transit subway line 19.
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