Through the reform, the systems to ensure the Party's overall leadership and the centralized and unified leadership of the CPC Central Committee have been further consolidated.
Though growth in China's auto market has been slowing, recent cuts in tariffs on imported vehicles and auto parts, and cuts in periodical repayment amounts of car loans would help the market to grow in the long run, he said.
Three municipal departments, including Guangzhou development and reform commission, Guangzhou industry and information technology commission and Guangzhou science technology and innovation commission, will allocate no less than a 1 billion yuan annual fiscal fund respectively to support IAB industries.
Tim Lee, the founder and CEO of mobile payment service QFPay, believes an increase in regulations, including stronger IPR protection, is highly commendable. He feels it is a necessity for all industries and innovations to advance.
Though there remains room for improvement, the pace of the reform to cut red tape has been fast in the past five years.
Though Tencent Holdings Ltd's WeChat popularized the digital red packet ritual in 2014, it is its burgeoning sister product Weishi, Tencent's short video app, that has taken the center stage this year. The company said on Wednesday it would spend 1 billion yuan (5 million) to subsidize users who download the app and perform a variety of tasks.
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Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies, including Tencent.
Though some groups of people canceled their trips because of COVID-19, about 72.4 percent of people surveyed said that they still have plans to travel as the epidemic wanes.
Three senior officials were officially charged and another was formally arrested on charges of corruption, prosecuting authorities said on Tuesday.
Though it is the private company's largest-ever single investment, Lu described it as a decision from which there was no going back. "Opportunities will be given to those who can bring together scientists, innovators, startups and investors," he said.