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News from China
China's Xiongan New Area welcomes foreign investment
6th March 2018
International companies which can meet the functional requirements of the Xiongan New Area are welcome, said He Lifeng, head of the National Development and Reform Commission on Tuesday.
 
He told a press conference on the sidelines of the ongoing annual session of the National People's Congress, China's national legislature, that the planning and construction of the new area have stepped into a new stage.
 
An administration has been set up and talent recruited from across the country, He said.
 
"Projects from the world over, which can meet requirements of the non-capital functions from Beijing and high-quality development, are welcome," said He.
 
He noted that major infrastructure projects had begun in the new area, including the construction of a rail link with Beijing. Travel time between Beijing and Xiongan will be 30 minutes.
 
Afforestation in the new area started in the winter, He added.
 
Xiongan New Area, established in April 2017, is a new economic zone about 100 kilometers southwest of Beijing in Hebei Province. It is the third new area of national significance after the Shenzhen Special Economic Zone and the Shanghai Pudong New Area.
Source: Shanghai Daily, March 6, 2018
China's Xiongan New Area welcomes foreign investment
6th March 2018
International companies which can meet the functional requirements of the Xiongan New Area are welcome, said He Lifeng, head of the National Development and Reform Commission on Tuesday.
 
He told a press conference on the sidelines of the ongoing annual session of the National People's Congress, China's national legislature, that the planning and construction of the new area have stepped into a new stage.
 
An administration has been set up and talent recruited from across the country, He said.
 
"Projects from the world over, which can meet requirements of the non-capital functions from Beijing and high-quality development, are welcome," said He.
 
He noted that major infrastructure projects had begun in the new area, including the construction of a rail link with Beijing. Travel time between Beijing and Xiongan will be 30 minutes.
 
Afforestation in the new area started in the winter, He added.
 
Xiongan New Area, established in April 2017, is a new economic zone about 100 kilometers southwest of Beijing in Hebei Province. It is the third new area of national significance after the Shenzhen Special Economic Zone and the Shanghai Pudong New Area.
Source: Shanghai Daily, March 6, 2018
China to do more to improve people's wellbeing
5th March 2018

 

 
China will do more to directly benefit the people, address their difficulties, and ensure that their basic living needs are met, Premier Li Keqiang said Monday.
 
"Our aim is to help people feel more satisfied, happier, and more secure," Li said when delivering a government work report at the opening meeting of the annual parliamentary session.
 
China will launch a new three-year renovation plan to address housing in rundown urban areas, starting with construction of 5.8 million units this year.
 
The premier reiterated that "houses are for living in, not for speculation."
 
"We will support people in buying homes for personal use, and develop the housing rental market and shared ownership housing," he said.
 
"We will step up efforts to supply public-rental housing so that all eligible low-income families struggling with housing, including eligible houseless first-time workers and migrant workers, are able to access public-rental housing under this scheme," he said.
 
The government will focus on boosting employment and business startups. China will strengthen employment services, launch a large-scale vocational skills training initiative and use the Internet Plus model to create new kinds of jobs.
 
With over 8.2 million college students graduating this year, reaching an all-time high again, the country needs to expand the channels for employment and support job creation through business startups, Li said.
 
Talking about the increase of people's incomes, he said the government will continue raising basic pension payments for retirees and basic pension benefits for rural and non-working urban residents while appropriately adjust minimum wages.
 
China will develop fair, high-quality education by promoting the integrated development of urban and rural compulsory education, significantly reducing the rural drop-out rate, moving faster to put an end to big class sizes in urban schools, and addressing the problem of heavy extracurricular burdens on primary and secondary school students, Li said.
 
The government will implement the Healthy China strategy, raise the basic medical insurance and serious disease insurance benefits.
 
Li said per capita government subsidies for basic health insurance for rural and non-working urban residents will be increased by 40 yuan (about US$6.3), half of which will be used for the serious disease insurance scheme.
 
To meet people's basic living needs, China will steadily raise urban and rural subsistence allowances, social assistance benefits, and benefits for entitled groups, according to the report.
 
The government will take proactive measures to tackle population aging, including developing at-home, community-based, and mutual-aid elderly care, promoting integrated medical and elderly care services, and improving the quality of services at senior care facilities.
 
"China will develop a new model of social governance based on collaboration, co-governance, and common gains," Li said. 
Source: Shanghai Daily, March 5, 2018
China fulfills 2017 development goals
2nd March 2018

 China has met all its annual development targets set in last year’s government work report, the State Council said yesterday.

 
The 36 quantitative goals for 2017, including annual economic growth of around 6.5 percent, were accomplished perfectly, according to a State Council report tracking the progress of last year’s government targets.
 
China’s economy expanded 6.9 percent year on year to 82.71 trillion yuan (US$13 trillion) in 2017, higher than the 6.7 percent growth registered in 2016, official data showed.
 
In 2017, 13.51 million new jobs were created in urban areas, with the unemployment rate standing at 3.9 percent, outperforming the official targets of 11 million and lower than 4.5 percent.
 
With faster economic expansion and a better employment picture, China’s per capita disposable income grew 7.3 percent last year.
 
Meanwhile, the Engel’s coefficient, which measures food expenditures as a proportion of total household spending, dropped to 29.3 percent in 2017, down from 30.1 percent in 2016.
 
The tax burden on businesses has been eased by more than 380 billion yuan, said the State Council, which estimated that business-related fees have been cut by some 643.4 billion yuan to benefit market entities, far overshooting the target of around 200 billion yuan.
 
Last year also saw the quickened pace of industrial overcapacity cuts, with the steel industry outperforming the annual target of cutting 50 million tons of capacity. A total of 250 million tons of coal production capacity was also eliminated, compared with the goal of 150 million tons.
 
A total of 6.09 million apartments in shanty towns were renovated in 2017, while 12.89 million rural people were brought out of poverty and some 285,000km of rural roads were built or renovated.
 
China has also cut emissions of both sulfur dioxide and nitrogen oxide by 8 percent and 4.9 percent, respectively, and returned 820,000 hectares of marginal farmland to forest or grassland.
 
New development targets for 2018 are expected to be released in this year’s government work report during the upcoming annual sessions of the top legislative and political advisory bodies as the country seeks economic transformation toward high-quality development.

Source: Shanghai Daily, March 2, 2018

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