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
China is ready to launch the China-ASEAN Free Trade Area 3.0 to expand cooperation in digital and green economy and fully implement the Regional Comprehensive Economic Partnership RCEP.
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 is aiming to have its manufacturing enterprises fully digitized by 2035, in a bid to upgrade its massive but declining manufacturing sectors and avoid technological blockades by the US.
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.
China-US trade rose 81.3% to $109.8 billion in Jan and Feb in US dollar terms, the Chinese National Bureau of Statistics reports. Chinese exports to the US could jump 20% in 2021. US is now China’s third largest trading partner, behind ASEAN and EU. US is bound to increase imports with the $1.9 trillion bonus.
While Reuter reports:
* Jan-Feb exports +60.6% yr/yr
* Jan-Feb imports +22.2% yr/yr
* Jan-Feb trade surplus $103.25 bln
* Feb exports +154.9% y/y, imports +17.3%
After Jan-Feb exports surge 60.6% in US dollar terms, Chinese exporters weigh price hikes to offset inflated raw material costs.
