Category: Economy

1. Copper Ore Mining $13,626,3B

2. Building Construction $2,475,7B

3. Online Shopping in China $2,137,9B

4. Real Estate Development and Management $2,086,6B

5. Mail-Order & Online Shopping $1,754,0B

6. Residential Real Estate $1,623,7B

7. Bridge, Tunnel and Subway Construction $1,412,4B

8. Software Development $1,217,3B

9. Engineering Services $960,8B

10. Steel Rolling $952,1B

https://asia.nikkei.com/Economy/Trade/World-s-biggest-trade-deal-RCEP-to-take-effect-Jan.-1

The world’s biggest free trade agreement is set to take effect on Jan. 1, slashing tariffs for countries including Japan, China and members of the Association of Southeast Asian Nations. Bringing together $25 trillion in economic output, the supersized trade pact covers roughly 30% of global gross domestic product, population and trade — more than the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

The yuan internationalization index reached 5.02 at the end of 2020, a sharp increase of 54.2 percent from the previous year, making it No.3 among international currencies. The rate exceeded the internationalization levels of the yen and pound, according to the 2021 RMB Internationalization Report released by the International Monetary Institute (IMI) under Renmin University of China on Saturday.

https://www.globaltimes.cn/page/202107/1229602.shtml

Chinese monetary authorities will support Shanghai to take a lead in the free use of renminbi and explore free capital inflow and outflow and free currency exchange in Shanghai’s Lingang Special Area, a central bank official said on July 20.

http://english.www.gov.cn/policies/policywatch/202107/21/content_WS60f7787ec6d0df57f98dd507.html

China’s State Administration for Market Regulation fines Alibaba a record of 18.23 billion yuan ($2.78 billion), 4% of its 2019 revenue, for abusing market dominant position on Saturday. Alibaba is demanded to “stop illegal activities.”

China last year attracted 520.6 billion US dollars of foreign investment.