The CIRC pledged to do more to channel insurance funds into the real economy.
The Blue Book of China's Provincial Competitiveness (2016-17) released in April by the Fujian Normal University and Social Sciences Academic Press calculated a competitiveness score and found China has achieved a more balanced regional development. Among all regions, Shanxi has witnessed the biggest jump in its score as it rose four spots on the list.
The Belt and Road Forum for International Cooperation meets an increasingly urgent need for a new cooperation platform that brings countries together to pull the world out of the economic mire and inject fresh energy into interconnected development.
The Belt and Road Initiative, proposed by China in 2013, aims to connect Asia with the Middle East, Africa and Europe through building a trade and infrastructure network along the ancient trade routes.
The CLI is designed to provide early signals of turning points in business cycles showing the fluctuation of the economic activity around its long term potential level.
The CBIRC also said Sunday that Hong Kong's Chiyu Banking Corporation Ltd. has been approved to set up a subsidiary bank in Shenzhen, South China's Guangdong province.
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The Bay Area program is a new attempt to promote opening-up and implement the "one country, two systems" policy, Guo Yonghang, Party secretary of Zhuhai, told Nanfang Daily earlier this year.
The BRI has been criticized for creating too much debt. But this debt is used to build productivity-enhancing infrastructure. The majority is being put into countries direly in need of capital investment and infrastructure. Contrast this with loans to support the US trade deficit, which have gone almost entirely into consumption.
The Bank of Japan on Monday decided to introduce additional monetary easing measures in a bid to stabilize financial markets amid recent turmoil caused by the global spread of the virus.
The Boston Globe reports that the giant online retailer plans to establish a new outpost in Cambridge’s Kendall Square area early next year, with a goal of securing about 40,000 square feet of office space. That’s enough room for about 100 to 150 employees.