Briefly

Hainan FTP boosts educational opening-up

Hainan province is constructing an education innovation zone at the Hainan Free Trade Port to boost its educational opening-up. The Li'an International Education Innovation Pilot Zone will be the FTP's sole education pilot zone, and its core mission is to enhance the opening-up of Hainan's education sector to the outside world. The zone's Lingshui Comprehensive Sports Center, located in Lingshui Li autonomous county and built by China Railway No 4 Engineering Group Co Ltd, was also topped-out recently, completing a key landmark for the Hainan FTP and aiding Hainan's ability to host international sporting events.

Banks' bad loan ratio falls in Q1

The nonperforming loan ratio of China's commercial banks fell to 1.62 percent by the end of the first quarter, with the quality of their credit assets generally stable, official data showed. The ratio edged down 0.01 percentage point from the end of 2022, according to the National Administration of Financial Regulation. By the end of March, these banks had outstanding bad loans of 3.1 trillion yuan ($440.62 billion), up 134.1 billion yuan from the end of last year.

Huawei completes ERP switch in 15 hours

Huawei Technologies Co has replaced the legacy enterprise resource planning system with a self-developed one, MetaERP system, at 88 overseas subsidiaries in just 15 hours, highlighting its technological strength and marking yet another victory for the company amid prolonged restrictions by the United States government. ERP represents key software underpinning a company's business operations, ranging from accounting to supply chain management.

Xinhua - China Daily