China will reduce the cost of logistics and improve efficiency to spur the real economy, according to a guideline approved at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.One focus of the guideline is improving the use of roads through better traffic administration and law enforcement, enabling smoother services with less red tape. Tax policy is to be overhauled and toll charges are to be set at reasonable levels to reduce cost burdens."The logistics sector is a groundwork of strategic importance for the market economy," Li said. "Lower logistics ...
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NANJING - After walking out of his spacious villa, Mei Zhenhua drives his Audi 6 to the rice farm in Huaxi village, known as China's wealthiest village.The 34-year-old former metallurgy engineer has lived the agricultural life for a year and a half, as one of the seven "young smart intellectuals" selected by villagers to grow rice.Huaxi in eastern China's Jiangsu Province, about 130 km away from Shanghai, has been urbanized. With skyscrapers and a village-run aviation firm, Huaxi has accumulated wealth through the development of industries ranging from steel and chemical fibe...
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Chinese bike sharing company Ofo announced on Thursday it has raised more than $700 million in its latest round of financing, the largest in the bike-sharing industry to date.The funding round is being led by Alibaba Group, Hony Capital and CITIC Private Equity, with additional participation from current investors Didi Chuxing and DST Global, the company said.The company completed its Series D round of financing in February, raising $450 million.Since its launch in June of 2015, Ofo has connected over 6.5 million bikes to riders in 150 cities across five countries, generating more than 25 mill...
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WASHINGTON - The White House said on Wednesday that US President Donald Trump had accepted French President Emmanuel Macron's invitation to visit France on Bastille Day next month."President Trump looks forward to reaffirming America's strong ties of friendship with France, to celebrating this important day with the French people, and to commemorating the 100th anniversary of America's entry into World War I," said a statement by the White House."The two leaders will further build on the strong counter-terrorism cooperation and economic partnership between the two co...
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Chinese Ambassador to the United States Cui Tiankai said that US arms sales to Taiwan and sanctions against Chinese companies and individuals will undermine confidence between the two countries.The US State Department has approved $1.4 billion worth of arms sales to Taiwan. It was the first weapons sale to Taiwan since US President Donald Trump took office.US State Department spokeswoman Heather Nauert said the Trump administration had notified Congress of its intent to approve seven proposed deals now valued at around $1.42 billion.CBS News quoted anonymous US government officials as saying t...
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