The agreements involve agriculture and food processing, new materials, equipment manufacturing, bio-pharmaceuticals, chemical industry, textiles, industrial park construction and modern services.
The app is expected to aggregate or integrate existing platforms such as WeChat Pay, Alipay, and UnionPay seamlessly. "That way, I can make transactions more convenient, because consumers don't have to download all the e-wallet service apps that different shops demand," he said.
The area covered by the Belt and Road Initiative is responsible for about a third of the world's economic output, and the initiative is likely to increase that share in the future. Eventually, it is estimated a quarter of the global goods trade will travel via the "New Silk Road", according to John Brumby, national president of ACBC.
The amendment agreement will take effect in June. The CEPA - the first free trade agreement ever concluded by the mainland and Hong Kong - created new business opportunities for the mainland, Hong Kong and foreign investors by opening up huge markets for Hong Kong goods and services.
The annual Shanghai Lavender Festival kicks off at the Shanghai International Resort on May 19. [Photo provided to chinadaily.com.cn]
The announcement sent Tesla's high-flying stock up 7 percent in extended trades, and indicated trading will begin on a stock split-adjusted basis on Aug 31.
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The agricultural product exports to China kept a monthly downward trend, after growing 7.4 percent in March.
The aim of supportive policies in China is to prevent a slowdown in growth, rather than boosting growth to a strong level, according to the latest research from Goldman Sachs, which added that policymakers are "highly flexible" in reacting to global conditions.
The agreements opened the cooperation process of the "Shanghai Five" and laid down a solid foundation for the establishment and development of the Shanghai Cooperation Organization (SCO).
The alliance comprises more than 90 members, including the fisheries administration of the Ministry of Agriculture and Rural Affairs; the National Aquatic Wildlife Conservation Association; fishery departments in Hainan, Guangdong, Fujian, Guangxi, Jiangsu, Zhejiang, Shandong and Liaoning; universities and colleges; social groups, NGOs and enterprises; and media organizations.