The merged company will leverage Alibaba's capabilities in new retail, membership systems, marketing, logistics, finance and other areas that center on urban living.
The minister planned to build a tour package in observing China's ancient navy commander Zheng He and his voyage throughout Indonesia centuries ago.
The ministry called for more education on travel safety, especially for independent travelers, whose awareness of risk prevention should be enhanced.
The ministers discussed the major tasks in the SCO’s further development after the entry of India and Pakistan as members last year. They discussed major international and regional issues.
The ministry will conduct research on supportive policies for the zones in developing sectors such as smart manufacturing, biopharmaceuticals, digital economy and smart manufacturing, he said.
The master plan, published in April 2018, has 10 chapters, namely the general requirements, developing scientific and reasonable layout, shaping the city landscape for a new era, building a beautiful natural ecology and environment, developing high-end and hi-tech industries, provision of quality shared public services, construction of a fast and highly-efficient transportation network, building a green and smart new city, fostering modernized city security system, and ensuring orderly and effective implementation of the plan.
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The ministry said China's ODI mix continued to diversify in the first four months this year, with investment mainly flowing into sectors like leasing and business services, wholesale and retail as well as manufacturing, accounting for 37.4, 17.4 and 13.8 percent, respectively. The first two categories saw yearly investment increase of 40.4 percent and 96 percent, respectively. While investment in manufacturing fell 32 percent compared with last year. ODI to scientific research and technology services, as well as farming, forestry, animal husbandry and fisheries, surged by 69.6 percent and 50 percent year-on-year, respectively.
The message: Invest in education. Tech companies need to do more to train women and people of color and students need to advocate for themselves, he said. “There is no talent shortage, there is an opportunity shortage.”
The ministry said China's service trade continued the high growth momentum from January to April, with the growth rate reaching a new high so far this year.
The market-oriented initial public offering mechanism of the STAR Market, or the registration-based IPO system, also showed its effect, with the 28 STAR listings' price-to-earnings ratios of offer price varying from 18 to 269, according to SSE data.