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ectors have been a “wild west” where Chinese firms did not hesitate to
copy each other or foreigners. But, as China has developed its own technology and moved u上海千花网品茶微信
p the value chain, protecting intellectual property rights has become a high priority for the government.
上海千花网At the China Development Forum in March, Vice-Premier Han Zheng emphasized: “We w
ill step up our efforts for IPR protection as well as law enforcement in various aspects, and establish a sy上海千花网
stem of punitive punishment for IPR infringement to significantly raise the cost of violating the law.”
上海千花网品茶微信And, President Xi announced that China will strengthen intellectual property rights protectio
n in his April speech to the second Belt and Road Forum for International Cooperation.上海千花网
Also, the removal of the requirement that foreign companies enter in
上海千花网to joint ventures should alleviate any fears about mandatory technology transfers.
Financial market reforms
Reform of the financial sector is moving especially rapidly. China will allow full foreign ownershi上海千花网
p of securities firms, futures businesses and life insurance companies by 2020, a year earlier than was s
上海千花网品茶微信cheduled, Premier Li Keqiang told the Summer Davos Forum. Foreign institutions will be offered treatment e
qual to that of domestic companies in credit references, credit ratings and payments, he said.
Li emphasized that this reform is part of a broader push to force domestic上海千花网
firms to upgrade as they face foreign competition. “Further opening to foreign investors, we are no
上海千花网品茶微信t just providing them with opportunities to enter the Chinese market. We are also providing opportu
nities for the financial sector to upgrade and to improve its quality on a level playing field,” Li said.
Measures to boost private sectorThe Chinese government has also recently announced mea上海千花网品茶微信
sures to improve the availability of credit for the private sector and reduce taxes on it.
In a discussion with foreign CEOs at the Summer Davos meeting, Li noted that small and medium-sized companies and private e上海千花网
nterprises provide over 80 percent of employment in urban areas and 60 percent of GDP.
ers on one charge would earn 5 credits for its maker according to previous equations, and in the draft proposal the credits will be redu
ced to 2.5, according to Cui Dongshu, secretary-general of the China Passenger Car Association.上海千花网
He added that the proposed policy encourages better technology as more efficient power consumption will earn more credits.
上海千花网女神会所Analysts said the plan’s release will help carmakers to coordinate their production plans, es
pecially international ones, which have been slower than Chinese ones to respond to policy changes.
Herbert Diess, CEO of Volkswagen AG, called for a stable policy envi上海千花网
ronment at the World New Energy Vehicle Congress held in early July in Hainan province.
The German carmaker said almost half of its new energy vehicles produced in 2028 will
上海千花网女神会所be made in China. China has been the largest market for new energy vehicles since it overtook the United States in 2015.
So far there are around 3.5 million such vehicles on its roads.
The country’s new energy vehicle sales surged 65.9 percent year-on-year to 577,000 units上海千花网
during the January-June period, data from the China Passenger Car Association showed.
上海千花网女神会所The draft proposal is expected to help boost hybrids as well, to which Japanese carmakers have devoted much time and money.
They would still be considered fossil-fueled but re-classified as “low fuel consu
mption passenger vehicles” and thus will incur less negative points than traditional vehicles.
Under the current system, automakers in China are obliged to make up for a portion of the negative points they incur whe上海千花网女神会所
n they produce internal combustion engine vehicles with points won for producing new energy vehicles.
Analysts said the revision could see more traditional vehicles replaced with hybrids, because when automakers prod
uce hybrids. The proposed change came as a surprise, some experts and industry officials said, because the gove上海千花网女神会所
rnment has never before given any preferential treatment for hybrid technology.
“The new proposed policy is a roundabout way to promote hybrid cars,” said Cui in a social media post.
China will maintain a prudent monetary policy in the year’s second half, with potential policy adjustments depending mainly on
the domestic economic situation and price levels, a senior central bank official said on Friday.上海千花网女神会所
Having noticed the recent monetary easing in some foreign central banks and the United States Fe
上海千花网女神会所deral Reserve’s strong message that it will make a cut later in the policy rate, the Chinese centra
l bank has decided not to change its monetary policy stance, while continually reducing the actual financing costs o
f enterprises, said Sun Guofeng, head of the monetary policy department of the People’s Bank of China, the central bank.上海千花网
“In the second half, we will maintain the liquidity at a reasonably ample level through leveraging
diversified tools and strengthening macroeconomic policy coordination,” said Sun, adding that mo
derate money supply growth can support the country’s high-quality economic growth.上海千花网
Sun made the remark after the central bank released major financial da
ta on Friday. The broad money supply, or M2, increased by 8.5 percent by the end of June
上海千花网女神会所from a year earlier. The growth rate had remained unchanged for three consecutive months starting in April.
Chinese banks issued yuan-denominated loans of 9.67 trillion yuan ($1.41 trillion) in the first six month
s, and 1.66 trillion yuan was newly extended in June, up from 1.18 trillion yuan in May, the PBOC said.上海千花网
Total social financing, a broad measure of credit and liquidity in the economy, increased by 13.23 trillion yuan in the firs
上海千花网女神会所t half, compared with an increase of 10.05 trillion yuan in the same period last year, officials said.
“Rapid growth of total social financing proved that the financial se
ctor is enhancing support for the real economy,” said Ruan Jianhong, head of the central ba上海千花网
nk’s Statistics and Analysis Department, at a Friday news conference.
上海千花网女神会所The RMB, compared with some other major currencies, has performe
d well in the first half, and its current exchange rate is basically in line with the economic fou
ndation, as the International Monetary Fund determined recently, according to Sun.上海千花网女神会所
“In the future, the market will play a decisive role in determining the RMB exchange rate, and we will take macro-pruden
t measures when it is necessary to maintain the exchange rate at a stable and reasonable equilibrium,” Sun added.
Making use of Guangdong-Hong Kong-Macao Greater Bay Area to become a hub
With its modern industrial system, Tianhe district in Guangzhou, South China’s Guangdong province, is seizing the oppo上海千花网品茶微信
rtunities brought about by the construction of the Guangdong-Hong Kong-Macao Greater Bay Area to become an
international first-class central business district, an international core area for innovation in science and t
上海千花网echnology, and a demonstration zone for Guangdong-Hong Kong-Macao cooperation.
Its solid industrial foundation and favorable business environment, as well as the gove
rnment’s strong policy support, attract large numbers of enterprises to the district.上海千花网品茶微信
By the end of November, 162 out of the Fortune Global 500 enterprises had invested in 228 proj
上海千花网ects in finance, science and technology, trade and commercial services in Tianhe. It is the city
‘s center for headquarters, with 104, or 29 percent of the total across Guangzhou, making Tianhe’s business dis
trict one of the three largest world-class central business districts in China. Among these, 95 percent of the h上海千花网
eadquarters in Tianhe are in the service sector and 25 headquarters are foreign-funded ventures.
上海千花网In the first three quarters of 2017, Tianhe’s GDP hit 304 billion yuan ($46 billion), up 9.5 percen
t year-on-year. Its GDP has been the highest among all the districts in Guangzhou for 10 years consecutively.
More importantly, experts said innovation, high-tech and service上海千花网
sectors have become the driving force of the district’s economic growth. The district go
上海千花网品茶微信vernment focuses more on quality rather than quantity when it comes to the economy.
With 53 innovation platforms and 51 startup incubators above city level, the district government is carrying out what it c
alls its “super incubator” strategy. It is making use of old industrial parks, factory workshops and public sites co上海千花网品茶微信
llectively owned by villagers to provide a platform for startups and to foster local economic growth. So far, Tianhe has cr
eated 29 of this kind of incubators for startups and innovation, covering a total area of 1.11 million square meters. The di
strict is also implementing a convenient “five-in-one” new business registration system.上海千花网品茶微信
As a center of finance and technology industries, Tianhe has 215 registered financial agencie
s and 33 enterprises listed on the stock market. It boasts 378 research and development institutes set u
p by enterprises, 86 institutes affiliated to universities and governments, and 239 engineering technology research centers.上海千花网品茶微信
Last year, 4,312 patent applications were submitted in Tianhe, 32 percent
of the city’s total and a rise of 45 percent year-on-year. Among these 1,158 patents were granted.
By the end of last year, Tianhe had 1,403 high and new-technology ent
erprises, as well as more than 50,000 science and technology enterprises.
bor-inte上海千花网女神会所nsive products, and the country saw deficits for products including aircraft, integrated circuits, auto
mobiles and agricultural products, indicating that both countries have capitalized on their respective industrial advantages.
“Strict controls by the US over exports to China is one of the important reasons for the trade deficit,” the re
port said, adding that the measures involve around 3,100 items in 10 categories, mostly high-tech products.
Tom Harper, a researcher at the University of Surrey in southea
stern England, said since the Sino-US trade friction escalated, the impact is already being
felt on global supply chains. For example, China has sought to move away from the US to other countries for the goo
ds it needs. Brazil, for example, has begun to supply China with soybeans previously bought from the US.
These moves demonstrate the dangers of trade conflicts, with US farmers bearing the brunt of Chinese tariffs, Harper said.
he next five to seven years, China’s policy support for new energy vehicles will drive g
lobal growth,” said Kou Nannan, head of research at Bloomberg New Energy Finance.
As early as in 2012, the State Council introduced a pipeline to guide the development of the natio
n’s EVs, with a goal of producing 2 million units and selling 5 million EVs by 2020. Later on, cent
ral and local governments carried out a series of subsidy policies in the NEV industry, such as purchase tax exemption an
d purchase subsidies, to offer greater support to the industrialization of China’s NEV industry.
According to the agency, China will specifically lead in the e-bus market. It is estimated that by
2025, China’s e-bus fleet share will reach 50 percent, and by 2040, the ratio will rise to roughly 80 percent.