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News from China
China's inflation rate to edge down in September: report
3rd October 2019

 China's consumer price index, a main gauge of inflation, was expected to record slightly slower growth in September, according to a research report.

 
The CPI was likely to rise 2.7 percent year on year in September, compared with a 2.8-percent increase registered in August, according to a report from the Bank of Communications' financial research center.
 
Pork prices continued to climb last month, driving beef and mutton prices up, while vegetable prices gradually retreated after more fresh vegetables hit the market, the report said.
 
These factors would lead to higher food prices month on month, but the year-on-year price growth would be limited due to increased food prices in the same period last year, according to the report.
 
Meanwhile, the year-on-year non-food price growth was expected to edge down, it noted.
 
The report predicted the CPI growth to stay above 2.5 percent in the near future as pork price hikes would continue to drive food prices higher, but saw no significant inflationary pressure from the global oil market.
 
China aims to keep consumer inflation at around 3 percent in 2019, according to this year's government work report.
 
The National Bureau of Statistics is scheduled to release the official CPI data for September on October 15
Source: Shanghai Daily, October 3, 2019
Chinese mainland leaps in digital competitiveness: report
2nd October 2019

 The Chinese mainland outpaced other economies in digital competitiveness growth, a report showed.

 
The mainland's ranking rose from the 30th to the 22nd in the latest World Digital Competitiveness Ranking by IMD Business School, the largest increase among 63 rated economies.
 
The rising competitiveness came mainly from the Chinese mainland's progress in training, education and scientific concentration, the report showed.
 
The annual ranking is based on an economy's capacity to understand and learn new technologies, competence to develop new digital innovations and preparedness for coming developments.
 
Global market intelligence firm IDC expects the digital economy to account for 60 percent of global GDP by 2022, with the share in China even higher at 65 percent. 
 
Source: Shanghai Daily, October 1, 2019
Mass pageantry showcases Chinese nation's great rejuvenation
1st October 2019

 The third part of a mass pageantry celebrating the 70th anniversary of the founding of the People's Republic of China highlighted the Chinese nation's great rejuvenation with 18 formations marching through the Tian'anmen Square in central Beijing Tuesday.

 
At the center of the leading formation was a giant portrait of Xi Jinping.
 
Since the 18th Communist Party of China (CPC) National Congress, the CPC Central Committee with Comrade Xi Jinping at the core has led all Party members and the Chinese people of all ethnic groups in a concerted effort to carry out a great struggle, develop a great project, advance a great cause and realize a great dream, established Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and pushed for historic achievements and shifts in the cause of the Party and the country, said an official narrator of the pageantry.
 
"Socialism with Chinese characteristics has entered a new era. The Chinese nation has made a great leap from standing up to growing rich and to becoming strong," said the narrator.
 
A formation highlighting technological innovation followed, showing many of China's world-renowned projects including the high-speed railway, space lab and deep-sea submersible.
 
Three floats mimicked a high-speed train Fuxing, or "rejuvenation" in Chinese.
 
Other formations featured the country's regional coordinated development strategies, rural vitalization efforts, democracy and the rule of law, ethnic unity, and Chinese culture.
 
A float highlighting the 2022 Beijing Winter Olympics passed the Tian'anmen Square, showing the country's strength in sports, followed by formations demonstrating the country's poverty alleviation achievements and environmental protection practices.
 
A float in the shape of a Chinese mythical giant bird Kunpeng drove by, showing the soaring momentum of the Chinese nation. Floats representing the country's provinces, autonomous regions, municipalities, Hong Kong, Macao and Taiwan followed.
 
Then came a formation underscoring a community with a shared future for humanity, which featured Chinese and foreign youth joining hands. The formation also highlighted the Belt and Road Initiative.
 
The next formation demonstrated the CPC's sweeping victory in the fight against corruption, highlighting remarkable outcomes in full and strict governance over the Party.
Source: Shanghai Daily, October 1, 2019
Jade Dynasty' leads Chinese mainland box office
30th September 2019

 

 
Domestic fantasy film "Jade Dynasty" returned to the top of the Chinese mainland box office on Sunday, the China Movie Data Information Network said Monday.
 
It grossed about 7.1 million yuan (US$1 million) and had a total box office revenue of more than 400 million yuan in 18 days of screening, the network showed.
 
Telling a story of a brave young man who strives to change his own destiny, the film had dominated the Chinese mainland box office for a week after its debut on September 13.
 
The Chinese historical film "Mao Zedong 1949" ranked second, with a daily box office revenue of more than 6.72 million yuan.
 
It was followed closely by the comedy "The Last Wish," which raked in nearly 6.72 million yuan Sunday and accumulated 266 million yuan of earnings in 18 days of screening.
 
Three films in celebration of the 70th founding anniversary of the People's Republic of China, namely "The Climbers," "The Captain" and "My People, My Country," which premiered Monday, 
are expected to vie for the top position on the mainland box office charts during the National Day holiday from October 1 to 7. 
 
 
Source: September 30, 2019

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