Category Archives: World News

China Voice: Chinese economy on slow, steady track to target growth

07/29/2015 北欧绿色邮报网 Leave a comment

BEIJING, July 21 (Xinhua) — China has handed in its economic performance sheet for the first half of 2015. While it seems lackluster at first glimpse, a closer look reveals encouraging signs.

China’s headline GDP growth stayed flat at 7 percent in Q2 — not an impressive performance compared with the first half of 2014, leading to concerns of continuous slowdown and a possible hard landing.

However, these concerns have mischaracterized the current state of the Chinese economy.

The economy, which is in a “new normal” stage of slower but steadier growth, is showing signs of bottoming out.

The property sector, a key contributor to economic growth, saw its sales grow strongly in June and Q2, and infrastructure investment accelerated in June for the first time in three months.

Another happy surprise has been the growing role of the services sector. It expanded 8.4 percent in H1 and accounted for 49.5 percent of GDP, an outstanding sign of the country’s success in restructuring the economy and fostering new growth engines.

Chinese President Xi Jinping reassured local governments last week that the economy still enjoys a promising outlook despite downward growth pressure, and the leadership’s confidence is well-grounded.

The economic fundamentals are still sound with stable employment, prices, grain output and income growth.

High-end industrialization and urbanization remain two major drivers to power future growth as China aims to transform itself from the world’s factory into a more sophisticated manufacturer and urbanize rural areas with a current population of about 200 million.

Meanwhile, economic activity is likely to be more robust as the government’s efforts to offer policy and funding support for infrastructure, ease local governments’ financing pressures and loosen monetary and credit conditions gradually pay off in the second half of this year.

Last but not least, the optimism comes from increasing market confidence itself. China’s manufacturing PMI figures have been above the expansion/contraction threshold for the last four months and the industrial entrepreneur confidence index also remained in expansion range in Q2.

All these signs suggest the country’s GDP growth target of about 7 percent is attainable as growth picks up in the second half of this year.

The short-term outlook may still indicate structural slowdown as the economy works through a painful process of adjustment and deleveraging, but as the country’s market-oriented reform, public entrepreneurship and innovation gather steam, the Chinese economy is heading toward its target growth at a slow and steady pace. Enditem

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China Voice: Why does a market-oriented China need a plan?

07/29/2015 北欧绿色邮报网 Leave a comment

BEIJING, July 21 (Xinhua) — The 18th Central Committee of the Communist Party of China has just decided to hold its fifth plenary session in October. High on the agenda is the 13th five-year plan for national development (2016-2020).

Neo-liberals claim that economic planning is a key characteristic of centralized economies and runs counter to the market. Why then, is the world’s second largest economy, already pledged to let the market play a “decisive” role, still clinging to such a national plan?

China’s five-year plans are basically a series of social and economic development initiatives that came into being along with the socialist regime in the middle of the last century. Concerned mainly with government development priorities and growth targets, the plans are a guide for Chinese regulators.

For market economy die hards, a government cannot “plan” an economy, and especially cannot plan how enterprises and the market will operate, but in today’s world, where the concept of free market is considered sacrosanct, no economy functions without intervention.

China has relied on a strong government steering its economy for over 60 years, so it would be unwise not to draw on a tradition that has proven effective in the last few decades, especially with the economy at a crux of upgrades and changes of emphasis.

Critics of economic planning fear that government intervention erodes efficiency, but the market is not right all the time, although it is right most of the time. The free market itself can be a cause of low efficiency, as shown by the number of modern economic recessions. If we countenance government help when the economy needs rescuing, we should, in the same light, acknowledge government support during the good times.

When we eventually see the new five-year plan, we may be pleasantly surprised. The approach may be an inheritance from the age of planning, but it will be no meticulous description of every nut and bolt.

An economic plan does not mean a backing-off from the market economy nor stronger intervention by the state. Rather than a script, it is an extensive agenda of support. The plan may be more micro and specific than the goals set by European and American governments, but such an approach suits the developing economy.

The five-year plan offers investors, home and abroad, a chance to see the government’s priorities and make better plans themselves.

As one of China’s most prominent economists and most active reform advocates Fan Gang put it, the plan “puts forward the development vision and roughs out what the government’s [rather than the market’s] tasks are.” Enditem

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China FDI growth to pick up amid challenges: vice minister

07/29/2015 北欧绿色邮报网 Leave a comment

BEIJING, July 18 (Xinhua) — Foreign direct investment (FDI) in China will rebound in 2015 on the back of a robust expansion in the first six months, Vice Commerce Minister Wang Shouwen has said.

Wang expected the FDI in China for the whole 2015 to grow around four percent to 125 billion U.S. dollars, compared with a 1.7-percent expansion recorded in 2014.

Official data showed on Friday that the FDI rose eight percent in the first half of the year to 68.4 billion U.S. dollars, accelerating sharply from 2.2 percent in the same period last year.

Wang attributed the improvement to China’s continued efforts in widening pilot reforms in free trade areas, fewer government restrictions and active promotion of opening up in certain industries and inland areas.

However, he warned that FDI growth will probably drop in the latter half mainly due to a slow economic recovery in major FDI sources and the tapering of U.S. quantitative easing.

China became a net capital exporter for the first time in 2014 when the FDI was outnumbered by outbound direct investment (ODI).

In the first six months of 2015, China’s ODI grew 29.2 percent to 56 billion U.S. dollars, a higher speed but less volume than that of the FDI. Enditem

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China’s largest solar power tower plant starts construction

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XINING, July 22 (Greenpost) — Construction has begun on China’s largest solar power tower plant in the northwestern province of Qinghai.

Occupying 2,550 hectares of the Gobi Desert in Golmud City, the plant will have an installed capacity of 200 megawatts, and be capable of supplying electricity to 1 million households, according to Qinghai Solar-Thermal Power Group.

“Its designed heat storage is 15 hours, thus, it can guarantee stable, continual power generation,” said group board chair Wu Longyi.

Once operational, the plant will slash standard coal use by 4.26 million tonnes every year, reducing emissions of carbon dioxide and sulfur dioxide by 896,000 tonnes and 8,080 tonnes, respectively.

Using heliostats to transfer sunlight into power, the system is more efficient and boasts better energy storage than the more commonly used system.

Located 2,870 meters above sea level on the Qinghai-Tibetan Plateau, Golmud has particularly favorable conditions for the developing new energy industry, said Wu Tianxiao, Communist Party of China Golmud deputy secretary.

The plant will also be China’s first large-scale solar power plant under commercial operation, said Yu Mingzhen, vice director of Qinghai development and reform commission, heralding the project a landmark in China’s solar energy development.

China has been focusing on increasing its proportion of clean energy. By 2014, the country’s solar power capacity was 28.05 gigawatts, 400 times more than 2005, and there are plans to increase this to around 100 gigawatts by 2020. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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China H1 foreign trade drops 6.9 pct

07/19/2015 北欧绿色邮报网 Leave a comment

China H1 foreign trade drops 6.9 pct
BEIJING, July 13 (Xinhua) — China’s foreign trade dropped 6.9 percent year on year to 11.53 trillion yuan (1.89 trillion U.S. dollars) in the first half of 2015, official data showed on Monday.
Exports rose slightly by 0.9 percent from a year ago to 6.57 trillion yuan, while imports slumped by 15.5 percent to 4.96 trillion yuan, according to data from the General Administration of Customs (GAC).
Trade surplus expanded 1.5 times to 1.61 billion yuan in the Jan.-June period.
In June, foreign trade decreased by 1.9 percent from the previous year, with exports rising by 2.1 percent and imports falling by 6.7 percent, data showed.
Trade surplus in June jumped by 45 percent to 284.2 billion yuan. Enditem

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China Voice: BRICS a stabilizer of global economy

07/16/2015 北欧绿色邮报网 Leave a comment

BEIJING, July 8 (Xinhua) — A BRICS group with deepened cooperation will not only serve its five member countries and other developing nations, but also stabilize and even boost the world economy.

In upcoming days, leaders of the BRICS countries — Brazil, Russia, India, China and South Africa — will meet in Ufa of Russia for the seventh BRICS leaders meeting.

They met for the first time in 2009, launching the bloc’s cooperation mechanism. Since then, the BRICS have shown vitality and innovation through cooperation, with deepened participation in global governance.

Now these countries will set up the New Development Bank (NDB). The institution’s board of governors will hold its first meeting in Moscow to appoint members of the board of directors and the management.

The NDB shows that the BRICS bloc has transformed from a political concept to a real force for reform in the international community.

With the bank’s funding, developing countries, especially the African states, can improve their infrastructure, rather than struggling with the limited funds the current international agencies provide them.

The new development bank will cover the shortcomings of the global financial system. It is not intended to overturn the current system, but to encourage investment from developed countries and other developing countries with an open and inclusive mind.

The BRICS has become an importance platform for exchanges and cooperation among the world’s major emerging economies. It has brought real benefits for the member states, and also earned a good reputation among the international community.

This new cooperation mechanism pointed to an important trend: emerging economies are playing bigger roles in global issues.

Global economic recovery remains slow. While trade globalization agreements are still being negotiated, the Western countries and Russia are introducing sanctions against each other, and the developed and developing countries have not yet reached agreement on how to balance economic development and climate change.

Under such circumstances, the BRICS leaders’ meeting in Ufa has critical significance as cooperation among them will not benefit not only themselves but also the world economy.

Although the five countries are at very different stages of their development, they will still become new growth poles for the world economy.The five have contributed half the world’s economic growth in the past 10 years.

They have complementary industrial structures. Sufficient labor, abundant resources and large markets give them great opportunities for development.

The five countries are also important players in both their continents and international affairs. In multilateral platforms such as the UN and the G20, they are playing bigger roles than ever before, thus their booming economies can drive the whole global economy through their deepened cooperation with other countries and international organizations. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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AIIB agreement signed, China-led bank takes key step forward

07/16/2015 北欧绿色邮报网 Leave a comment

BEIJING, June 29 (Xinhua) — A China-initiated multilateral bank that has dominated media headlines for months took a key step forward on Monday, with the signing of an agreement that outlines the framework and management structure for the institution.

Representatives of the 57 prospective founding countries of the Asian Infrastructure Investment Bank (AIIB) gathered in Beijing for the signing ceremony in the Great Hall of the People. Australia was the first country to sign the document.

The 60-article agreement specified each member’s share as well as the governance structure and policy-making mechanism of the bank, which is designed to finance infrastructure in Asia.

Seventy-five percent of the bank’s share is distributed among Asian and Oceanian countries while the remaining 25 percent is assigned to countries outside the region. As the bank expands its membership, countries outside of the region can expand their stake, but the portion cannot exceed 30 percent. Each member will be allocated a share of the quota based on the size of their economy.

China, India and Russia are the three largest shareholders, taking a 30.34 percent, 8.52 percent, 6.66 percent stake, respectively. Their voting shares are calculated at 26.06 percent, 7.5 percent and 5.92 percent.

China’s stake and voting share in the initial stage are a “natural outcome” of current rules, and may be diluted as more members join, China’s Vice Finance Minister Shi Yaobin said in an interview with Xinhua.

“China is not deliberately seeking a veto power,” Shi stressed.

Being the largest shareholder does not mean China will have veto power over major issues. Instead, China will closely watch and balance other members’ interests, said Tang Min, with Counselors’ Office of the State Council, who previously worked for the Asian Development Bank (ADB).

Speaking at Monday’s ceremony, Finance Minister Lou Jiwei said the new bank will uphold high standards and follow international rules in its operation, policies and management to ensure efficiency and transparency.

The bank, headquartered in Beijing, will possibly set up regional offices in other countries. It will be led by a president with a five-year term that can be extended once.

The articles do not say who will be the president, but said the president will be chosen from Asian member countries using an “open, transparent and excellent” selection process.

Jin Liqun, former vice finance minister of China, is secretary-general of the interim multilateral secretariat for establishing the AIIB.

After signing the agreement, representatives from prospective founding countries will return home with the document for legal adoption.

The AIIB was proposed by President Xi Jinping in October 2013. A year later, 21 Asian nations, including China, India, Malaysia, Pakistan and Singapore, signed an agreement to establish the bank.

After the new bank garnered support from countries like Britain and Germany, much focus has been trained on whether the U.S. and Japan, the world’s largest and third largest economies, will join.

While stating that the U.S. will not join the AIIB at present, U.S. President Barack Obama said the country looked forward to collaborating with the new development bank “just like we do with the Asia Development Bank and with the World Bank”in April.

Despite outside worries that a new investment bank will challenge the established order of multilateral lenders, the IMF, World Bank and other leading global lenders have welcomed collaboration with the new bank to fill Asia’s infrastructure gap.

Statistics from the ADB show that between 2010 and 2020, around 8 trillion U.S. dollars in investment will be needed in the Asia-Pacific region to improve infrastructure.

“We view the AIIB as an important new partner that shares a common goal: ending extreme poverty. With strong environment, labor and procurement standards, the AIIB will join us and other development banks in addressing the huge infrastructure needs that are critical to ending poverty, reducing inequalities, and boosting shared prosperity,” World Bank Group President Jim Yong Kim said in a statement after the signing ceremony.

Chinese officials have reiterated that rather than being a competitor, the new bank will complement the current international economic order and enable China to take more global responsibility.

The bank will start operation at the end of the year under two preconditions: At least 10 prospective members sign the agreement and the initial subscribed capital is no less than 50 percent of the authorized capital.

“We are confident of working with related parties to accelerate legal procedures and push for the official set up of the AIIB before the year end,” Lou said.

TIMELINE

October 2013, Chinese President Xi Jinping proposed the bank.

October 2014, 21 Asian nations, including China, India, Malaysia, Pakistan and Singapore signed an agreement to establish the bank.

March 12, 2015, Britain applied to join the AIIB as a prospective founding member, the first major western country to do so. France, Italy and Germany quickly followed suit.

March 31, 2015, China announced that 57 countries joined or applied to join the AIIB as prospective founding members before the deadline.

Until May, five rounds of talks were held and consensus was reached on all key elements, such as the bank’s purpose, membership, capital subscription, voting powers and decision-making structures.

June 29, 2015, delegates of the 57 prospective founding countries of the AIIB gathered in Beijing for the signing ceremony of an agreement to lay the legal framework and management structure for the bank. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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Interview: Europe should recognize China as market economy to further bilateral relationship: former Italian PM

07/16/2015 北欧绿色邮报网 Leave a comment

by Matt Burgess

SYDNEY, July 9 (Xinhua) — Maybe it is time for Europe to change policy and officially recognize China as a market economy to further the China-EU trade relationship, said former Italian Prime Minister Enrico Letta.

The key issue to creating links in the China-EU relationship is China’s market economy status, Letta told Xinhua in an exclusive interview here.

Analysts believe this status could be approved in 2016, a year Letta predicts will be a major turning point for the China-EU relationship.

“It could be recognizing by the EU of the market economy status, it could be the year we can launch the free trade agreement (FTA) negotiations,” Letta said.

Chinese Premier Li Keqiang made a strong appeal for the early conclusion of a bilateral trade agreement with the EU at the recent China-EU summit in Brussels at the end of June.

However, establishing a China-EU FTA will be a very complicated process, Letta said.

“There are many fields from agriculture to protection of intellectual property and so on and we need to solve all together, ” Letta said.

Engagements in the China-led Asian Infrastructure Investment Bank (AIIB) as well as the “Belt and Road” strategy are important steps in strengthening Europe’s economic ties with Asia, Letta said.

The Silk Road Economic Belt, together with the 21st-Century Maritime Silk Road, commonly known as the “Belt and Road” initiatives, were proposed by Chinese President Xi Jinping in 2013.

“I think (the AIIB) was an important and decisive step on behalf of the Chinese leadership,” Letta said. “It was important

for EU countries to follow this step, to react in a positive mode. This is why Italy as well as the main EU countries decided to apply for the membership.”

Letta, who is a visiting scholar at the University of Technology, Sydney, said Europe is too focused on domestic political issues, such as the Greek debt crisis, which is taking up too much of the member states’ energy.

“I think the EU must focus the great opportunities we have around the world,” Letta said.

In an on-stage conversation with former Australian Foreign Affairs minister and Director of the Australia-China Relations Institute (ACRI) Bob Carr at the University of Technology, Sydney on Tuesday night, Letta said “I exactly think that the future of the world will be Asian-driven,” noting that was why he is in Australia.

Letta said Australia was not susceptible to the “virus,” the global financial crisis, because of the links with the Asian region.

“We need, as all western countries, change our mind, change our way to do business and to try to create permanent links,” Letta said. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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Chinese company acquires Czech turbine manufacturer

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XI’AN, July 5 (Greenpost) — Xi’an Shaangu Power, a Chinese engineering company based in northwestern Shaanxi province, paid 318 million yuan (51 million U.S. dollars) for a 75 percent stake of Brno Ekol, a leading Czech turbine manufacturer.

According to an agreement signed by the two companies in January, the acquisition will take place in two steps, with delivery of the remaining stake completed in the years to come.

It is the biggest amount paid by China into Czech’s manufacturing industry over the recent years, accounting for about 17 percent of China’s total investment into the European country.

Shaangu Power, established in 1999, is a major industrial compressor producer in China. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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Pork exports to China boost Britain’s economy

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LONDON, July 3 (Xinhua) — Pigs will fly, the old saying goes, and for Britain, pork exports to China have given the economy a boost, government environment secretary Elizabeth Truss announced Friday.

Global pork exports from Britain have rocketed 44 percent in the last five years generating almost 334 million U.S. dollars a year for the British economy, the minister said.

Truss said the pork industry was given a significant boost after the British government opened up pork trade with China in 2012. The exports to China are now worth 47 million dollars each year.

Visiting the country’s biggest pork exporter, Cranswick Country Foods in the Hull (Northern England), Secretary Truss praised the industry for grasping export opportunities and leading the way in new Chinese markets, setting a gold standard for the rest of the UK food industry.

She said exports of British pork around the world are up from 149 million pounds in 2010 with China being by far the biggest international export market for British pork.

Truss said: “UK food has an excellent reputation the world over, and China presents a fantastic opportunity for our farmers to take advantage of a growing demand for top-class British produce.”

“China is now one of the UK’s fastest-growing export markets … Pork is a significant British export, along with whisky, salmon, and fresh fish,” said Truss.

In January, Truss visited China to discuss opening up the market further for British exports and expanding the number of British plants that can export pork to China.

As part of the trip, she discussed pigs trotters, which could bring an additional 11.7 million dollars a year for the British pork industry; negotiations with China are currently ongoing, she said.

The new UK Agriculture and Food Counsellor, Karen Morgan, has been tasked with driving greater access to China’s growing food market.

This paves the way for the dairy industry where British dairy products are in growing demand. Dairy exports to China are now worth over 37 million dollars and infant milk formula and processed cheese could present an opportunity for British producers to diversify. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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BoC lists first Euro-denominated bond on London Stock Exchange

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LONDON, July 6 (Greenpost) — London Stock Exchange Group (LSEG) Monday announced that it has witnessed the first Euro-denominated bond by a Chinese issuer admitted to trading on its markets.

Bank of China (BoC) has issued a 500-million-euro (or 550 million U.S. dollars) bond listed in London, through its Hungarian branch, as part of wider bond issuance program by the bank to provide funding for China’s ‘One Belt, One Road’ projects, said LSEG.

The project aims at boost links and commerce between China and countries along the old land-based and maritime silk routes, noted the group.

Nikhil Rathi, Director of International Development at LSEG said in a statement: “This latest Euro-denominated bond, a first for a Chinese issuer, demonstrates London Stock Exchange’s apposition as the leading gateway for Chinese firms looking to access European and global capital in the full range of currencies.”

Chen Huaiyu, General Manager of Bank of China Hungarian Branch said: “The success of the bond issued by Bank of China Hungarian Branch shows that international investors have great confidence in the CEE region and also in the ‘One Belt, One Road’ projects initiated by China in this region.

“Bank of China will accelerate the establishment of branches in CEE countries and will provide more financial support to this region in the future,” added Chen.

According to LSEG’s data, fifty-seven Chinese companies are currently quoted in London, with eight on the Main Market and 49 on Alternative Investment Market. In addition, thirty-two so-called dim sum bonds, or offshore RMB-denominated bonds, are traded on London Stock Exchange’s market, with a aggregate value of RMB 24 billion. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

Chinese company acquires Czech turbine manufacturer

According to an agreement signed by the two companies in January, the acquisition will take place in two steps, with delivery of the remaining stake completed in the years to come.

It is the biggest amount paid by China into Czech’s manufacturing industry over the recent years, accounting for about 17 percent of China’s total investment into the European country.

Shaangu Power, established in 1999, is a major industrial compressor producer in China. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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220 Chinese enterprises raise USD37.96 bln globally via IPOs in H1

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BEIJING, July 7 (Xinhua) — A total of 220 Chinese firms conducted successful initial public offerings (IPOs) on both domestic and overseas capital markets in the first half of this year, accounting for 45.2 percent of global total, raising 37.96 billion US dollars, accounting for 57 percent of global total, according to statistics from investment research company Zero2IPO.

Globally, 487 companies conducted IPOs during H1, up 52.7 percent year on year, raising 66.609 billion US dollars, down 25.3 percent year on year, said Zero2IPO on Tuesday.

Among the 220 Chinese enterprises, 187 were listed on China’s A-share market, raising 23.572 billion yuan. In a breakdown, 78 were listed on the Shanghai Stock Exchange and 74 were listed on the SME board of the Shenzhen Stock Exchange.

Meanwhile, 33 Chinese enterprises were listed on 5 overseas capital markets, raising 14.388 billion yuan, up 42.8 percent year on year. Enditem

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China new free trade zones attracting overseas investor

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BEIJING, July 7 (Xinhua) — China’s newly-established free trade zones (FTZs) in Guangdong, Tianjin and Fujian have shown promise in attracting overseas investment, the commerce ministry said on Tuesday.

At the end of May, over a month after their establishment, the three zones had received a combined 22.6 billion yuan (about 3.7 billion U.S. dollars) in contracted overseas investment, Ministry of Commerce spokesman Shen Danyang told a press conference.

The Guangdong, Tianjin and Fujian FTZ attracted 7.8 billion yuan, 11.7 billion yuan and 3.2 billion yuan, accounting for 45.3 percent, 69.4 percent and 53.6 percent of the total in their respective regions, Shen said.

The three FTZs were set up in April, 18 months after the first FTA was established in Shanghai as part of the government’s efforts to test reform policies and better integrate the economy with international practices in a landscape where China’s old export-reliant model is no longer sustainable.

Some of the new rules and regulations, launched for trial in the FTZs, promised easier access to both foreign and domestic investment, further opening up of the service sector and liberalizing measures for the financial sector. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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Chinese investment in Europe surging

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BEIJING, July 7 (Greenpost) — China’s non-financial investment in the European Union hit 4.21 billion U.S. dollars in the first five months of the year, up more than 367 percent year on year, the Ministry of Commerce (MOC) said on Tuesday.

The figures suggest China’s investment in Europe has entered a period of rapid growth, said MOC spokesman Shen Danyang at a press conference in Beijing.

He said that the rise is due to Chinese companies’ increasing investment projects in Europe, such as the stake acquisition of Italian tire maker Pirelli by China’s state-owned National Chemical Corp.

“At the same time, Chinese investment in Europe is also broadening to areas including machinery, autos, real estate, shipping, telecommunications, energy, and finance,” Shen said.

China-EU financial cooperation also appears promising, he said, as EU nations including Britain, France, Germany and Italy have all joined the China-led Asian Infrastructure Investment Bank, while the EU welcomes China’s participation in its strategic investment plan.

During his visit to Europe last week, Chinese Premier Li Keqiang proposed China and EU make full use of a currency-swap scheme worth more than 700 billion yuan to facilitate bilateral economic and trade cooperation. He also said China will improve the RMB Qualified Foreign Institutional Investor program, a channel for overseas investment in the Chinese stock market.

Shen added that China’s Belt and Road initiative and its Internet Plus strategy, a national digital drive, have much in common with the industrial upgrading and smart city building plans of many EU countries, indicating more room for industrial cooperation between the two sides. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

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Chinese investment in Europe surging

07/15/2015 北欧绿色邮报网 Leave a comment

The figures suggest China’s investment in Europe has entered a period of rapid growth, said MOC spokesman Shen Danyang at a press conference in Beijing.

“At the same time, Chinese investment in Europe is also broadening to areas including machinery, autos, real estate, shipping, telecommunications, energy, and finance,” Shen said.

China new free trade zones attracting overseas investors

Source Xinhua

Editor Xuefie Chen Axelsson