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China is moving swiftly to further accelerate what officials call the “new industrialization” process, aiming to upgrade traditional industries, cultivate new strategic industries, and promote advanced manufacturing and digitalization, a broad campaign to ensure the country’s industrial security and competitive edge amid rapidly rising global competition and risks.
(CTN NEWS) - China's central bank made a significant announcement on Thursday, revealing its decision to reduce the reserve requirement ratio (RRR), which
China’s central bank announced on Thursday that it would cut the reserve requirement ratio (RRR), the amount of cash that Chinese banks are required to hold as reserves, by 25 basis points effective Friday, sending another resounding signal that the world’s second-largest economy is moving swiftly to tackle challenges and boost the economic recovery.
Chinese authorities on Monday issued 20 measures to boost domestic consumption, including support for expanding real estate and auto sales, underscoring the country’s intensifying efforts to ensure steady economic recovery and meet annual economic development goals amid internal and external downward pressures.
All 31 provincial-level regions in the Chinese mainland have unveiled their first-half “economic report cards” as of Sunday, with eastern economic powerhouses leading the pack, driven by successful industrial upgrades and the rapid growth of new driving forces.