Recently, the reporter learned from the Ministry of Industry and Information Technology that in recent years, China's digital economy has developed vigorously, and its industrial scale has continued to grow rapidly, ranking second in the world for several years. Statistics show that from 2012 to 2021, the scale of China's digital economy increased from 11 trillion yuan to over 45 trillion yuan, and the proportion of digital economy in GDP increased from 21.6% to 39.8%.The construction of new infrastructure has been accelerated, and the digital industrialization has been further advance...
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2022
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BEIJING, July 4 (Xinhua) -- Trading of exchange-traded funds (ETFs) under the mainland-Hong Kong stock connect programs began on Monday, marking a significant step to deepening the cooperation of capital markets in both the Chinese mainland and Hong Kong.The inclusion of ETFs in stock connect programs will facilitate investment for both domestic and overseas investors, and help asset managers and brokers of the Chinese mainland and Hong Kong further improve their management and service, said Cai Jianchun, general manager of the Shanghai Stock Exchange, at Monday's online launch ceremony.Th...
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2022
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BEIJING, July 4 (Xinhua) -- The People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) announced Monday that the Currency Swap Agreement has been enhanced.It has become a long-standing arrangement with no need for renewal. Its size has also been expanded from 500 billion yuan (about 75 billion U.S. dollars) to 800 billion yuan.The agreement will further deepen financial cooperation between the Chinese mainland and Hong Kong, better support the development of Hong Kong as an international financial center, and foster the development of the offshore RMB market in Hong Kong...
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2022
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BEIJING, July 2 (Xinhua) -- Ministries in China have rolled out a raft of supportive policies to keep enterprises and self-employed businesses afloat amid the COVID-19 epidemic, with a focus on cutting fees and taxes.The number of market entities registered in China stood at 159 million by the end of May, up 3.6 percent from that at the end of 2021. Among them, 50.12 million are enterprises and 107 million are self-employed businesses.Market entities make up the confidence and resilience of China's economic growth, and they play key roles in keeping the world's second-largest economy s...
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2022
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BEIJING, July 2 (Xinhua) -- Profitability of Chinese enterprises improved in the second quarter (Q2) of the year, a central bank survey showed.The profitability index stood at 51.2 percent in the second quarter, up 2 percentage points from the previous quarter, staying above the 50-mark separating expansion from contraction, according to the People's Bank of China.Among the surveyed enterprises, some 31.6 percent said they believe they earned more profits or pared losses in the April-June period, while 39.3 percent said that profits or losses of their firms remained unchanged from the firs...
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2022
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