The Chinese company will also struggle as it remains on the US government's "Entity List", which bars Huawei from accessing any US technology without special government approval.
The Chinese economy has maintained a stable performance on the whole this year. In particular, we have seen quite a number of positive changes since March: the manufacturing Purchasing Managers' Index and its sub-indices on production and new orders rebounded to the highest point in months; fixed-asset investment, imports and exports, freight volume and electricity generation grew at a faster pace; consumption remained stable; and trading in the capital market was vibrant. As things stand now, we are seeing a notable improvement in market expectations, better performance of the business sector, especially SMEs, and growing dynamism for internally driven development.
The China Securities Regulatory Commission reviewed 109 restructuring applications by Nov 15 this year, among which 96 have been approved.
The Chinese economy continued to be stable and perform within reasonable range with improved momentum in May, the NBS said. However, the foundation for sustainable and healthy economic development needs to be consolidated, given rising external uncertainties and unbalanced development at home, the bureau added.
The China Securities Regulatory Commission announced it is enforcing penalties on Sealand Securities Co, a mid-sized securities firm, over the bond trading scandal involving up to 16.5 billion yuan (.4 billion) that emerged last December.
The China Skills Competition 2018, which serves as the National Selection Competition for the 45th WorldSkills Competition, kicked off in Shanghai on Tuesday night.
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The Caixin China General Manufacturing Purchasing Managers' Index rose to 54.9 last month, compared with 53.6 in October, said the report by media Caixin. A reading above 50 indicates economic expan-sion, below 50 indicates contraction.
The Chinese film market earned over 3.4 billion yuan in ticket sales over the last Lunar New Year holiday, according to the State Administration of Press, Publication, Radio, Film and Television.
The Chinese economy is expected to continue its steady growth for the rest of this year, Zhou Xiaochuan, China's central bank governor, has said. He expected the economy to grow 7 percent in the second half of this year.
The China market is in the midst of a transformation to a consumer-driven economy. Traditionally the market has been linear and had a top-down approach. Previously, 70-80 percent of demand was for large projects where government or big developers were driving the demand instead of consumers. The market has now become more consumer-driven and demands innovation that can solve real-life problems. Consumers want products and technologies that have real purposes and real functions.