北欧绿色邮报网股市分析
以前就有美国同事说，中国感冒，世界打喷嚏。最近中国股市大跌，再次引发人们热议。
瑞典朋友大卫是个医生，见到笔者立即说，听说最近股市大跌，上海交易所居然关闭，真让人担心。
再见到工程师莱纳特，他说，中国现在真是不得了啊，中国经济一感冒，西方世界也开始打喷嚏了。说完哈哈大笑。
昨天晚上，瑞典电视台就中国股市问题采访了瑞典SEB经济学家埃克伦德。
记者问为什么中国关闭，埃克伦德说，因为中国股市还是一个不成熟的股市，因此，有时对市场大跌产生过度反应。但正是因为人们预期要关闭，所以更要出手，结果，造成更大一轮下跌。
在问到是否有危机时，埃克伦德说，他不相信有危机，但也难说，因为危机始于2008年的美国股市，然后是欧洲，也许现在是新兴经济体了，包括中国。
这对瑞典有影响吗？埃克伦德说，这对瑞典有影响，因为人们的养老保险都在股市上。另外很多老人也都在炒股或购买基金，因此，有可能受到负面影响，很遗憾。
BEIJING, Jan. 7 (Xinhua) — China announced Thursday night that it will from Friday suspend the stock market “circuit breaker” mechanism that has been implemented since the beginning of this year.
“Currently, the negative effects of the mechanism are greater than the positive effects. Thus, the China Securities Regulatory Commission (CSRC) had decided to suspend the circuit breaker mechanism to maintain market stability,” CSRC spokesperson Deng Ke said in a statement.
Under the mechanism that became effective on Jan. 1 to tame the wildly fluctuating Chinese stock market, trading will be halted for 15 minutes if the Hushen 300 Index, which reflects the performance of bluechips listed in Shanghai and Shenzhen, moves up or down by 5 percent before 2:45 p.m. If the movement reaches 7 percent when trading is resumed, the market closes for the day.
The circuit breaker was triggered on both Monday and Thursday, as plunges in the Hushen 300 Index reached 7 percent in both trading days.
“The mechanism was introduced with the aim of providing a calm-down period for the market to avoid or reduce hasty trading decisions in the case of sharp fluctuations, protecting the interests of investors. It also provides time for dealing with technological and operational risks,” Deng said.
He said the mechanism “is not the major reason for the market plunge, but it failed to achieve the anticipated effects,” adding that the mechanism in effect accelerated the plunge as some investors decided to sell when the index’s drop neared 5 percent or 7 percent.
The CSRC decided to introduce the circuit breaker system and conducted a public consultation on the plan for its introduction in September 2015 to prevent further abnormal fluctuations.
The benchmark Shanghai Composite Index surged about 154 percent from July 2014 to as high as 5,178 points on June 12, 2015, but then plunged about 45 percent from the peak by Aug. 26, 2015. The sharp falls gave rise to calls of a “circuit breaker.”
The new mechanism would help prevent excessive reactions of investors and give them more time to confirm whether a stock’s price is reasonable, according to the plan.
With no precedent, the market has taken time to adapt. “Next, the CSRC will carefully sum up the experience and lessons, organize research on improving the mechanism and seek extensive public opinions,” Deng said.
Trading on the Shanghai and Shenzhen bourses stopped early on Thursday after shares tumbled 7 percent within the first 30 minutes of trading, triggering the circuit breaker mechanism. It was the shortest trading time in the history of China’s stock market.
At 9:42 a.m., trading was suspended for 15 minutes after the Hushen 300 dropped by over 5 percent. The index dived a further 2 percent in just 2 minutes after reopening at 9:57 a.m., and trading was ceased.
Following the trading suspension Thursday, the CSRC unveiled new rules to limit big shareholders from selling their stocks.
Big shareholders, the management and those who hold more than 5 percent of a company’s shares were asked not to sell more than 1 percent of the company’s shares within any three-month period, a notice said.
Those who want to reduce their holdings have to publicize their plans 15 trading days beforehand. The new rule will take effect on Jan. 9.
On Thursday, several state-owned enterprises, including China Aerospace Science and Industry Corporation and China National Offshore Oil Corporation, announced that they will not sell shares of listed companies they control in order to help maintain market stability. Enditem
BEIJING, Jan. 6 (Greenpost) — The continued depreciation of the yuan against the U.S. dollar since August should not be grounds for doom and gloom, as a multitude of factors underpin the Chinese currency in the medium and long term.
The yuan has been heading south since the People’s Bank of China (PBOC), the central bank, revamped the foreign exchange mechanism in August to make the rate more market-based.
The onshore yuan (CNY), traded in the Chinese mainland, declined 4.05 percent against the greenback in 2015. During the first two trading days of 2016, the offshore yuan (CNH) traded in Hong Kong, has consistently gone down, losing as much as 1.3 percent at one point and putting pressure on the onshore yuan to sink lower.
Short-term volatility of the yuan is understandable as “hot money” makes an exit out of China, whose economy is heading for its slowest pace in a quarter century as industrial overcapacity and housing overhang still haunt. Meanwhile, the United States is seeing recovery and raised interest rates in December, with more rises expected in 2016.
However, there is no risk for the yuan to see substantial depreciation in the long term.
China has a mammoth foreign exchange reserve (3.4 trillion U.S. dollars), sound economic fundamentals, commendable growth in labor productivity and determination to carry out necessary reforms to unlock vitality.
The inclusion of the yuan by the International Monetary Fund in its elite basket of currencies, effective this October, will give the yuan a leg up toward internationalization.
Another favorable factor is the continued weakness of global commodity prices. Reduced costs help China, the world’s biggest commodity consumer, boost its current account surplus, thus offsetting capital outflows and the depletion of its foreign exchange reserve.
A drop of 10 dollars in average oil prices, for example, would reduce the costs by 25 billion dollars a year, according to Goldman Sachs’s estimate. Low crude prices may prop up the surplus to about 360 billion dollars this year, it added.
The authorities wouldn’t want or tolerate substantial declines in the yuan either. A typical goal is to keep the currency “basically stable.”
When the PBOC introduced the new foreign exchange rules in August, there were doubts that China was purposely devaluing the yuan to boost exports. That assumption was unfounded. The authorities have no intention to manipulate any drastic depreciation as the contribution of foreign trade to the country’s economic growth has declined to the level seen at the beginning of the century.
China is capable of keeping the yuan’s exchange rate at a “reasonable” level and sees no basis for continued depreciation, PBOC Vice Governor Yi Gang said at a recent press briefing.
“In the event of drastic fluctuation or abnormality in international balance of payments and cross-border capital flow, the central bank will not hesitate to intervene,” Yi added.
To reduce the market’s fixation on the yuan-dollar rate and better reflect the market, China Foreign Exchange Trade System (CFETS) began to release a yuan exchange rate composite index in December that measures the currency’s strength relative to a basket of 13 currencies, including the U.S. dollar, euro, and Japanese yen.
An update released on Monday showed that on the last day of 2015, the CFETS yuan index stood at 100.94, meaning the yuan appreciated 0.94 percent compared to the level at the end of 2014. Enditem
BEIJING, Jan. 2 (Xinhua) — One week before New Year, light came to 39,800 people in remote northwest China, the last group being able to light their homes in the world’s most populous country.
At the end of 2015, China met its goal of providing electricity to all its people, set out in the 12th five-year plan (2011-2015).
Universal power access was one of the goals China fulfilled in the past five years, ranging from railway construction to pollution control, from economic growth to resident income, and to poverty reduction.
Those achievements mark a satisfying end of the five-year plan and lay a solid foundation for the whole nation to march toward realizing its first centenary goal in the coming five years, analysts say.
The goal, one of “two centenary goals” put forward by the ruling Communist Party of China in 2012, is to double the 2010 GDP and per capita income of urban and rural residents and to complete the building of a moderately prosperous society by 2020.
On Wednesday, a new 345-km stretch of high-speed railway in the southernmost province of Hainan began operation, making it the world’s first of such railway to circle an island.
With Hainan’s high-speed loop line, China’s length of operating railways exceeded 120,000 km, including 19,000 km high-speed rail, both the longest in the world.
The economically advantaged Jiangsu Province in east China is also speeding up railway construction in its northern part to connect all its major cities with high-speed railways.
Over the past five years, China saw an annual average economic growth of 7.8 percent, and its per-capita GDP is expected to increase to approximately 8,000 U.S. dollars from 4,516 U.S. dollars.
The number of newly employed reached about 64 million and the rural poverty-stricken population fell from 166 million to about 60 million.
China also achieved reduction targets outlined in the 12th five-year plan for four major pollutants — sulfur dioxide and chemical oxygen demand, ammonia nitrogen and nitrogen oxide, six months ahead of schedule, official statistics showed.
“Fulfilling major economic targets of 2015 will mark the smooth completion of the 12th five-year plan and allow the country to develop on a higher platform,” said a statement issued after the Central Economic Work Conference on Dec. 21.
Hu Angang, director of the center for China studies at Tsinghua University in Beijing, gave a “high score” for the implementation of the 12th five-year plan.
“The completion of the 12th five-year plan is a vital step toward completing the building of a moderately prosperous society and consolidating a basis for the country’s modernization and national rejuvenation,” he said.
He attributed the plan to better ruling by the CPC and the remarkable progress in the country’s governance system.
Because 2016 is the first year of the 13th five-year plan period it is important for China, as a good start is half the battle.
China needs to face up to the challenges ahead in achieving an average annual growth of no less than 6.5 percent over the next five years while cutting excessive capacity, treating pollution and reducing poverty.
In his New Year speech, President Xi Jinping called for confidence and hard work for a good beginning in the home stretch of building a moderately prosperous society in all respects. He urged joint efforts to lift tens of millions of rural people out of poverty.
The country’s amended law on air pollution control took effect on Friday, dealing tougher punishments to industries and seeking to curb air pollution at its root.
According to Environment Minister Chen Jining, some major pollutants must be cut by another 30 to 50 percent for remarkable improvement of environment.
On Wednesday, the country unveiled an environmental protection plan for the most polluted region, which includes Beijing, Tianjin and Hebei. Bouts of heavy smog choked the region several times this winter.
Under the guideline, in 2020, the region should realize a significant reduction of major pollutants and a 40 percent fall of the density of PM2.5 (particulate matter smaller than 2.5 micrometers) from 2013. Enditem
HARBIN, Jan. 1 (Xinhua) — The bitter cold in Northeast China’s Heilongjiang Province, powerful enough to cause frostbite, is heating up the economy of the frozen land.
Harbin’s International Ice and Snow Festival, in trial operations, is drawing global tourists with its shimmering castles, huge towers and thrilling slides, all made of ice and snow.
The largest winter festival in China, the frozen structures have been built in the provincial capital every winter since 1999, earning Harbin a fame of “Ice City.”
The park this year has been the largest ever, the size of 112 football fields. A record 330,000 cubic meters of ice and snow were used.
“The main tower, 46.5 meters high, was built with 20,000 cubic meters of ice,” Wang Zengyu, deputy general manager of the park, said. “It might be the highest ice tower in the world.”
A team of Chinese and Dutch designers spent three months in landscaping the park, which was built by more than 10,000 workers. The result is one of the most attractive festivals to date, Wang said.
The time and energy put into the festival is a sign of the hope local authorities have for winter tourism, a bright spot in Heilongjiang’s economy, which has been slowed by sagging energy and heavy industries.
Along with adjacent Jilin and Liaoning provinces, Heilongjiang has been a traditional industrial base for decades. From January to September, Heilongjiang’s economy expanded by 5.5 percent, ranking third from the bottom among China’s provinces, autonomous regions and municipalities.
However, the province’s tourism revenues grew by 35 percent during the first three quarters.
Even better growth is expected for this winter, as the popularity of winter sports is predicted to grow following the announcement that Beijing will host the 2022 Winter Olympics.
Last month, Heilongjiang provincial officials came to big cities such as Beijing, Tianjin, Shenzhen and Hangzhou to promote five new travel routes in Northeast China featuring frozen landscapes and winter activities.
In addition to tourism, Heilongjiang’s cold weather, with average January temperatures between minus 31 and minus 15 degrees Celsius, has created other business opportunities, such as mass storage of information data, among others.
Harbin is working to become a base for cloud computing, which allows users to store files in a remote data center, or “cloud,” to enable access from any computer.
The city is attractive to cloud computing companies due to its cool climate, with a yearly average temperature of 3 degrees Celsius. Low temperatures help save on the cost of operating heat sinks and other units required to keep massive banks of computers from overheating.
“According to our calculation, a data center’s power consumption here is 40 percent less than in South or Southeast China. We don’t need compressors for refrigeration for eight months a year,” said Tan Liyan, general manager of data service provider Gopha in Harbin’s cloud computing industrial park.
More than 300 companies have moved into the industrial park, named “China Cloud Valley,” since its launch in late 2010.
Companies in the park inked investment deals worth 31 billion yuan (4.7 billion U.S. dollars), official statistics said.
Hundreds of kilometers away from Harbin, Heihe City has become the first choice for auto makers and auto parts suppliers to test new products under extreme cold conditions, with roads and rivers frozen for more than 200 days a year.
Auto companies started coming to Heihe for testing in the 1980s and the local government began to provide services in 2006.
“We earned just over 100,000 yuan in our first year in 2006, now we have 20 testing grounds and are earning a lot more,” said Zhao Xinhong, general manager of Honghegu, the city’s largest vehicle testing service provider.
“Currently 80 percent of China’s vehicle tests for cold regions are carried out in Heihe,” Sun said.
Demand for the services has boomed despite an economic downturn. Chen Ying, a city official, said a record number of 75 companies brought more than 1,300 vehicles to Heihe last winter.
“As the auto market has been cooling, we should spend more on research and development to win customers,” said Deng Yongjun, an engineer with Chang’an Automobile based in Southwest China’s Chongqing. Deng’s team took 100 cars to Heihe last winter.
Once China’s industrial base, the northeastern provinces have experienced an even faster economic downturn than the rest of the country, with the slowdown in heavy industry, chemicals and the real estate sector being blamed for the sluggish growth.
The situation, however, is improving. During the first three quarters in 2015, Heilongjiang’s gross domestic product (GDP) gained 0.4 percentage point from the first half of the year.
Liaoning’s GDP expanded 2.7 percent in the first three quarters, the lowest in the nation, but higher than the 2.6 percent registered in the first half of the year. Jilin’s GDP expanded 6.3 percent, up from 6.1 percent during the first six months.
The Chinese government has been rolling out measures since 2003 to boost the region, free up private businesses and restructure state-owned enterprises.
By 2020, Northeast China is expected to achieve medium-high growth, and by 2030, it is encouraged to become an important region in sustaining national growth, one key meeting of China’s top leadership planned recently.
The leadership promised more market-oriented administration, structural reform, stimulation for innovation and entrepreneurship, and improved quality of life in the often frigid region. Enditem
BEIJING, Jan. 6 (Greenpost) — China will set up more cross-border e-commerce pilot zones, the State Council announced Wednesday.
The zones will attract businesses, help create jobs and nurture new business models to boost foreign trade and stimulate the economy, according to a statement released after an executive meeting of the council chaired by Premier Li Keqiang.
They will be built in cities in China’s east, center and west that have good infrastructure and a good trade and e-commerce base.
The move follows the approval of the Hangzhou cross-border e-commerce pilot zone in March last year, which is based on open information sharing between businesses, financial institutions and regulators, one-stop online financial services, smart logistics and open e-commerce credit systems.
Efficient services will help businesses cut costs, said the statement.
Following its inspections last year, the State Council cited 50 provincial regions, cities, districts and counties for good work in shantytown renovation and other major projects and promised them policy support and funding.
However, it also said more than 900 officials have been punished for inaction found in the inspections. Enditem
BEIJING, Jan. 5 (Greenpost) — Senior political advisors have highlighted the need for more world-renowned Chinese brands, after a bi-weekly consultation session Tuesday.
Members of the Chinese People’s Political Consultative Conference (CPPCC) National Committee agreed that brands are essential to showcasing the competitiveness and potential of a company or even a country, and that China does not have enough of them, according to a statement issued after the session, hosted by CPPCC National Committee Chairman Yu Zhengsheng.
They called on companies to be bolder in developing brands, but also noted immature market conditions and the lack of government support.
Attendees suggested more legislation to protect intellectual property rights and punish copyright infringement. Enditem
BEIJING, Jan. 5 (Greenpost) — A Chinese couple can have two children if they like, according to a new policy.
China on Tuesday stopped requiring couples to apply for official approval before having a first or second child, following the abolition of the one-child policy.
The news came out last year, many thought they still need approval to have a second child the same as when they have the first one. But the truth is that they don’t need any approval for a second one.
The move, which entered effect immediately, was announced by the Communist Party of China (CPC) Central Committee and the State Council.
They said the approval system will be replaced by birth registrations for couples’ first and second children.
All Chinese couples have been allowed to have two children since Jan. 1, after the national legislature amended its family planning policy in late December.
A document released by the CPC Central Committee and the State Council said the nation is aiming to improve its services for women and children in both urban and rural areas.
It also called for intensified efforts to monitor and predict growth in the number of newborns.
The family planning policy was introduced in the 1970s. In 1980, the government started limiting most couples to one child. The grip gradually relaxed in the following decades. For example, rural couples were allowed to have two children if the first was a girl.
In 2013, China allowed couples to have a second child if either parent was an only child.
Tuesday’s document said the family planning policy was effective in curbing alarming growth in the nation’s population, reducing pressure on resources and the environment.
The one-child policy is estimated to have prevented 400 million births. Enditem
Editor Xuefei Chen Axelsson
TAIYUAN, Jan. 5 (Xinhua) — China must put “unyielding effort” into eliminating excess industrial capacity to make way for new growth engines, especially mass entrepreneurship and innovation, Premier Li Keqiang has said.
Li made the remarks during the first inspection tour of 2016 on Monday and Tuesday in north China’s Shanxi Province, which is known for large coal reserves and output.
After visiting Taiyuan Iron and Steel Group, a world-leading stainless steel producer, Li said the steel sector is suffering badly from excessive production and flagging demand.
“China should put unyielding effort into restructuring by eliminating outdated capacity and forbidding the construction of new capacity,” he said.
Companies should take pains in enhancing technology, quality and management to expand the country’s effective supply with more quality products, Li said.
In a coal mine of Xishan Coal Electricity Group, Li took a tramcar more than 300 meters underground to talk with miners and check the company’s safety conditions.
“The coal mining sector is facing hardship it has rarely seen in the face of a serious glut and plunging prices,” he said.
Mines should take the initiative in reducing output while helping laid-off workers find new jobs, according to the premier.
Li also visited a technology park in Taiyuan with more than 200 high-tech companies.
“China has huge market potential and bright prospects; growth impetus from innovation will create new jobs,” Li said.
He vowed more government support for entrepreneurs.
The premier then went to a shantytown that will be renovated into apartment buildings this year, urging local governments to lessen people’s wait times before moving into the new buildings.
He also urged companies to innovate and take risks, after visiting a museum on ancient Shanxi merchants who played a dominant role in finance and trade during the Ming and Qing dynasties. Enditem
BEIJING, Jan. 5 (Xinhua) — China is expected to attract 126 billion U.S. dollars worth of foreign investment in 2015, hitting an all-time high, according to the Ministry of Commerce (MOC) on Tuesday.
In the first eleven months of 2015, the total number of new-established foreign-funded enterprises amounted to 23,648, up 11 percent year on year.
During the period, actually used foreign capital in China grew 7.9 percent on year to 704.33 billion yuan. Enditem
SHIJIAZHUANG, Jan. 4 (Xinhua) — A one-month environmental protection inspection of north China’s Hebei Province began on Monday, at the behest of central authorities.
The inspection will continue till Feb. 4, examining implementation of Party and state environment policy by the provincial Communist Party of China (CPC) committee and local government, including their handling of environmental problems and what they are doing to improve the situation.
The inspection team has set up a hotline and a mail box for public consultation.
Inspectors nationwide are focused on how provincial-level Party committees and governments carry out their environmental duties, according to the Ministry of Environment. Teams report major problems to the central authority and inspection results are passed to the organization department of the CPC Central Committee as part of official appraisals.
Central authorities plan to inspect each of the provincial regions in China every two years, “China Environment News” reported last month. Enditem
CHENGDU, Jan. 2 (Xinhua) — Trains made nearly 180 round trips between Chengdu, capital of southwest China’s Sichuan Province and Lodz, Poland, in the last two and a half years.
Since 2013, three trains a week have made the 9,826 kilometer trip on the Chengdu-Europe fast rail, reaching Poland via Kazakhstan, Russia and Belarus.
“Commodities are transported to Europe within 15 days,” said Xu Pingfu, vice director of the Chengdu logistics office. “It is the fastest freight railway between China and Europe.”
Around 300 trains will ply the route in 2016, which will extend to Hamburg in Germany and Tilburg in the Netherlands. Commodities from coastal cities like Shanghai, Shenzhen and Xiamen are transported to Chengdu and from there to Europe because of the line’s low cost and high reliability.
“The price of transporting commodities on the Chengdu-Europe line is one fifth of the air freight cost, and it is three times faster than shipping,” said Xu.
Chengdu will spend a total of 1.9 billion yuan (300 million US dollars) in the next three years building China’s largest international railway port, said Chen Zhongwei, director of Chengdu logistics office.
Many leading exporters are considering moving to Chengdu for these reasons, according to Chen.
“We aim to be the pivot between Europe and Pan-Asia by building international railways and establishing a European commodity distribution center in the next three years,” Chen said. Enditem
Editor: Xuefei Chen Axelsson
HOHHOT, Jan. 4 (Greenpost) — A direct air route opened Sunday between Hohhot, capital of north China’s Inner Mongolia Autonomous Region, and the Thai capital Bangkok, for the upcoming Spring Festival holiday.
According to the Baita International Airport in Hohhot, the AirAsia flight is scheduled between Jan. 3 and Feb. 18 to serve tourists during Spring Festival, a peak holiday period in China.
The flight takes off from Bangkok at 2 p.m. local time, and arrives in Hohhot at 7:30 p.m. local time. The returning flight departs from Hohhot at 8:30 p.m. and lands in Bangkok at midnight. The trip will take 4 hours and 30 minutes, according to the airport.
During last Spring Festival holiday, Chinese outbound group travel tourists reached 5.2 million. Thailand was the most favored destination. Enditem
Source Xinhua Editor Xuefei Chen Axelsson
NANNING, Jan. 1 (Greenpost) — The first nuclear power plant located in one of China’s ethnic autonomous regions began commercial operation of its first reactor on Friday.
The No. 1 reactor of the Fangchenggang Nuclear Power Plant in Guangxi Zhuang Autonomous Region can supply 24 million kilowatt-hours of electricity a day, catering to the needs of a medium-sized city, said Gong Guangchen, the plant’s spokesperson.
Based on the domestically developed CPR-1000, the No.1 reactor began generating power in October 2015. The plant’s No. 2 reactor is expected to begin operating in the second half of 2016, Gong said.
The two reactors are expected to contribute 8 billion yuan (1.2 bln U.S. dollars) to the local GDP and create 64,000 new jobs annually. They will also cut coal burning by 4.82 million tonnes and CO2 emissions by about 11.9 million tonnes every year.
China has seen rapid nuclear power growth in recent years, but it suspended approval of new programs after Japan’s Fukushima nuclear disaster in 2011. Construction projects did not resume until 2014.
China currently has operating capacity of 25.5 million kilowatts and aims to raise installed nuclear power to 58 million kilowatts by 2020 in order to reduce pollution from coal-burning generators and deliver on its promise to reduce carbon emissions. Enditem
Source Xinhua Editor Xuefei Chen Axelsson
BEIJING, Dec. 31 (Greenpost) — Films screened in China raked in more than 44 billion yuan (6.78 billion U.S. dollars) in 2015, a 48.7 percent yearly increase and the highest since 2011, the country’s film watchdog said.
Domestic films took in 27.1 billion yuan, or 61.58 percent of the total, maintaining a clear dominance over the country’s cinema market, according to a statement released late Thursday by the State Administration of Press, Publication, Radio, Film and Television (SARFT).
In 2015, a total of 81 features surpassed the 100 million yuan box office threshold, including 47 Chinese titles.
Meanwhile, Chinese films gained 2.77 billion yuan in overseas sales, up 48.13 percent year-on-year.
The country also saw a 51.08 percent increase in the number of cinemagoers, reaching 1.26 billion people.
The SARFT noted a series of high-quality domestic films, including “Monkey King: Hero is Back,” a 3D animation based on a classic ancient story, and “Monster Hunt,” a live action-animation hybrid.
“Domestic films no longer merely rely on the box office. In 2015, more films achieved both outstanding box office performances and critical acclaim,” the statement said, citing surveys conducted in key cinema seasons.
Notably, “Monkey King,” while taking in more than 800 million yuan between July and Sept., was rated 8.4 out of 10 by nearly 260,000 votes at douban.com, the country’s leading art and entertainment database site.
In addition, a total of 8,035 screens were newly installed this year, at the rate of 22 screens added every day. The total amounted to 31,627 screens. Enditem
Source Xinhua, Editor Xuefei Chen Axelsson
