It showcases 785 cars — including 82 cars making their debuts — from around the world.
Beijing auto show
It showcases 785 cars — including 82 cars making their debuts — from around the world.
It showcases 785 cars — including 82 cars making their debuts — from around the world.
China’s last village to get road access to the outside world
China officially the largest aviation market in the world
Domestic flights in August averaged well over 10,000 flights a day, almost the same level as a year earlier. Overall, more than 28,000 flights – domestic, international and stopovers – took off and landed at mainland airports on average daily in August, an increase of 12 per cent from July.
China overtakes US as EU’s largest trading partner
According to data released by Eurostat on Sept. 16. In the first seven months of 2020, China overtook the US as the EU for the first time as largest trading partner: From January to July, year-on-year imports from China increased by 4.9% , while imports from the U.S. decreased by 11.7% .
EU’s exports to China fell by 1.8%, while exports to the U.S. fell by 9.9%.
China remains the EU’s top source of imports, third largest exporter of goods
The share of the market position was 21.9% and 10.3%, respectively.
What is China? What is its policy?
China’s economic base
China’s Free trade zones
China had set up 18 free trade zones since 2013. In the first half of 2020, the total import and export volume of the FTZs reached $324.72 billion. Today, China announced the plan for three new ones, including Beijing.
China’s 18 existing FTZs were established to attract foreign capital, boost regional development and improve trade. The nation is now allowing more provinces join this bold experiment.
According to the plan, Beijing’s FTZ aims to build the city into a globally influential technology and innovation center, in tandem with the accelerated development of the services and digital economy sectors.
The Villages will save China
China issues rules for unreliable entity list
The Chinese Ministry of Commerce (MOFCOM) on Saturday issued rules for a widely anticipated unreliable entity list mechanism that could severely punish foreign entities and individuals who undermine China’s national interests, in a move that is believed to counter the US’ relentless crackdown campaign against Chinese businesses.
The list would include foreign entities or individuals who undermine China’s sovereignty, security and development interests and those who violate market principles by cutting off normal transactions with Chinese firms, organizations or individuals, according to the rules issued by MOFCOM.
The Ministry did not release specific foreign entities or individuals that will be put on the list.
Foreign entities added to the Unreliable Entity List could be restricted or prohibited from engaging in China-related import or export activities and investing in China, according to the provisions.
Relevant personnel of the entity may also be restricted or banned from entering China and their work permit and residence status could also be restricted or revoked. Foreign entities could also face a fine and other “necessary measures.”
Both sides can play the game.
Hong Kong the world’s freest economy
Fraser Institute once again ranked Hong Kong as the world’s freest economy in the Economic Freedom of the World 2019 Report. Hong Kong has been retaining the top rank since the inception of the report. Among the five areas of assessment, Hong Kong was ranked top in “Freedom to Trade Internationally” and “Regulation”.
The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property. Forty-two data points are used to construct a summary index and to measure the degree of economic freedom in five broad areas.
- Area 1: Size of Government
As government spending, taxation, and the size of government-controlled enterprises increase, government decision-making is substituted for individual choice and economic freedom is reduced. - Area 2: Legal System and Property Rights
Protection of persons and their rightfully acquired property is a central element of both economic freedom and civil society. Indeed, it is the most important function of government. - Area 3: Sound Money
Inflation erodes the value of rightfully earned wages and savings. Sound money is thus essential to protect property rights. When inflation is not only high but also volatile, it becomes difficult for individuals to plan for the future and thus use economic freedom effectively. - Area 4: Freedom to Trade Internationally
Freedom to exchange—in its broadest sense, buying, selling, making contracts, and so on—is essential to economic freedom, which is reduced when freedom to exchange does not include businesses and individuals in other nations. - Area 5: Regulation
Governments not only use a number of tools to limit the right to exchange internationally, they may also develop onerous regulations that limit the right to exchange, gain credit, hire or work for whom you wish, or freely operate your business.