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The emerging service sector also grew very fast, Meng said.
In April, the information transmission industry
, along with software and inform ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.
etail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.
d the transformation of traditional industries is speeding up as they combine with information technology. “Through implementing national big data and inter
net plus strategies, internet, big da ta, and artificial intelligence technologies have been widely used in China’s real economy,” she said
peration in AI governance including laws and regulations, ethical norms and international rules,” Wang said.
The State Council issued a plan in 2017 that set b
enchmarks for China’s AI sector, with the value of core AI indu stries predicted to exceed 1 trillion yuan ($145 billion) and make the country the global leader of AI innovation by 2030.
mber, Tianjin unveiled a three-year plan to boost the innovative development of seven AI-related indust rial chains including independent and controllabl
e information systems, smart security, big data, advanced co mmun
ications, intelligent connected vehicles, industrial robots and intelligent terminals. According to the plan, the government will build Tianjin into an AI in
novation center and a hub of AI industries and innovative applications by 2020.
American Soybean Association President Davie Stephens said on Tuesday.
Donald Trump threatened in a tweet on Sunday to increase tariffs. Stephens, a grower from Clinton, Kentucky, said that US farmers are in a tough situation, and with depressed prices
old stocks forecast to double before the 2019 harvest begins in September, farmers urgently need the China market. “We need a positive resolution of this ongoing tariff dispute, not further escalation of tensions,” he said in a release p
osted on the ASA web site. Nicole Kaeding, vice-president of federal and special projects at the Washington-based Tax Foun
dation, said that if the Trump administr
ation follows through on the president’s threat, it’s US taxp ayers, not Chinese taxpayers, who will pay the price — thanks to higher prices and fewer job opportunities.
oing supply-side structural reform, as it is still dominated by the 268-trillion-yuan banking system, the analysts said.
ucturing process will accelerate as more foreign capital moves in, which can boost competition in the domestic market, the analysts added.
In the med
ium term, continued financial reform and more opening-up measures co uld boost capital inflows, said Lillian Li, a vice-president at rating agency Moody’s.
disputes between China and the United States and uncertainty over monetary policy in global markets may dam pen capital inflows, and the pace of capital inflow is likely to fluctuate in the near term, she said.
e world’s second-largest equity market and the third-largest bond market, China will likely usher in more inte rnational capital flows in the longer term, if the nation further liberalizes its financial system, she added.
ic and trade consultations, with a goal of implementing the consensuses President Xi Jinping and US President Donald Trump r
eached in December, said Xue Rongjiu, deputy director of the China Society for WTO Studies in Beijing.
China has made various moves recently to expand the new round of reform and opening-up — such as the approval of the Foreign Investm
in March and further facilitating trade connectivity under the Belt and Road Initiative. It will cont inue opening its market in a proactive, steady and orderly manner, in accordance with its own development ne
eds and its own pace and timetable, to benefit Chinese and global consumers across the world, said Tu Xinquan, a pro
fessor of international trade at the Univer
sity of International Business and Economics in Beijing. James Collins, CEO of Corteva Agriscience, the agricultural division of US-bas
Pont, said he hopes the two countries will reach a positive resolution, to benefit both countries and the re st of the
world. Collins said his firm was “not so much affected” in the short term by China-US trade tensions.