Weekly policy snapshot of Chinese economy

0 Comment(s)Print E-mail Xinhua, September 13, 2020
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BEIJING, Sept. 13 (Xinhua) -- China's policymakers have rolled out a raft of measures over the past week to boost economic growth and mitigate the impacts of the COVID-19 epidemic.

The following are the latest policies taken during the period:

-- The country vowed efforts to develop new-type consumption on a larger scale and of higher quality and innovate non-contact consumption patterns. Efforts will be made to promote the development of open online courses as well as online diagnosis and treatment, and a combination of online and offline services in sectors such as fitness and tourism.

The country will accelerate the development of infrastructure to boost new-type consumption. It urged efforts to prioritize the coverage of 5G networks and the Internet of Things in core business districts, industrial parks and transportation hubs, and promote the commercial use of consumption-related data in a safe and orderly manner.

-- The State Council has approved a plan for the city of Beijing to expand opening-up in service industry and build a national comprehensive demonstration zone for expanding opening-up in the service sector.

By 2030, the demonstration zone is expected to realize facilitation in terms of trade, investment, cross-border flow of capital, employment, transportation, as well as the safe and orderly flow of data.

-- The country vowed to drive integration and innovation of logistics and manufacturing sectors, and maintain the stability of industrial and supply chains.

Efforts will be made to promote the new development pattern in which domestic and foreign markets boost each other, with the domestic market as the mainstay, according to a plan jointly released by 14 central government departments.

It proposes to reduce costs and enhance the efficiency of the logistics industry amid manufacturing transformation and upgrades, so as to promote the synergy between the two industries. Enditem

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