The goal of building a modern central banking regime is to achieve currency value stability, sufficient employment, financial stability and an equilibrium of international balance of payments. This also requires control of the total money supply, provision of high-quality financial infrastructure services, prevention of systemic financial risks, control of external spillover effects, promotion of fair and reasonable international financial governance.
The global rating company expected China's per capita real GDP growth to average 5.5 percent annually in 2021-2023, as the economy recovers from the shock of COVID-19. It also anticipates continued implementation of restrictions on the off-budget borrowings of local governments to lead to shrinking fiscal deficits.
The government has channeled more energy into cleaning up corporate fees to relieve burden on businesses struggling amid the economic slowdown. A detailed national list of administrative fees is being compiled by the NDRC and will be released by the end of 2017.
The four technology giants said the Global Internet Forum to Counter Terrorism will formalize and structure existing and future areas of collaboration and foster cooperation with smaller tech companies, civil society groups and academics, governments and supranational bodies such as the European Union and the United Nations.
The government has not yet said who was contracted for quality control.
The global AMOLED display market is dominated by South Korean companies. According to market research firm Omdia, worldwide smartphone shipments are expected to plunge by 13 percent this year as COVID-19 has affected both consumer demand and supply-chain availability. However, the market for AMOLED smartphone displays is expected to rise by 9 percent this year.
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The government is building a system to evaluate China-Europe freight train routes, in order to fend off risks from price competition and local government subsidy, which is expected to be reduced by 10 percent a year starting from 2018, according to the nation's top financial regulators.
The goal is to become the world's largest new energy car maker in three to five years, with the annual sales reaching 1 million units in five to 10 years. For the five years after the first 1 million units, the company said it hopes to produce 5 million units annually.
The government is expected to ramp up fiscal support to boost domestic demand and lend targeted help to hard-hit small businesses, as part of the efforts to maintain momentum despite lingering uncertainties, they said.
The government is preparing to hike the consumption tax to 10 percent from the current 8 percent in October after postponing the plan twice. However, the move triggered a public backlash because previous increases in 1997 and 2014 were followed by serious economic downturns.