Economy

Poverty Line Raised in 14 Provinces So far 17 provinces and autonomous regions set their regional poverty lines above the national level of RMB 2,300. Most of these are in the better-o East China. The poverty line has been set at RMB 4,600, for example, in Zhejiang Province, RMB 4,000 in Jiangsu Province and RMB 3,200 in Liaoning Province. The RMB 2,300     

Economy

Seats for Chinese Space Travelers
Thanks to the agreement reached last December 27 between Chinese travel agency Dexo Travel and the space tourism firm Space Expedition Corporation （SXC）, Chinese travelers u411 have the added holiday option of a space tour as early as 2015.     

Economy

正Shanghai International Gold Trading Center Starts Operation The Shanghai International Gold Trading Center was recently launched as the first international trading platform in China(Shanghai)Pilot Free Trade Zone(FTZ).The Shanghai FTZ is also preparing to establish other international trading centers.In the Shanghai gold trading center,foreigners are allowed to invest in China’s gold market.According to Li Jun,deputy secretary-general of the Shanghai     

Economy

China Eases Market Access for Foreign Banks The State Council recently announced the decision to revise regulations on the administration of foreign-funded banks.Its purpose is to cut red tape for foreign bank branch openings and entry into RMB business.The decision came into effect on January 1.It is one of the country’s latest moves to expand opening-up of its financial sector.     

Economy

Chile-China Agreement on Astronomical Research
China and Chile agreed on an annual fund of US $3 million for joint astronomical research on October 4. The agreement was signed between Chile＇s National Commission for Scientific and Technological Research （Conicyt） and the Chinese Academy of Sciences （CAS）. The fund, to be implemented from 2014, will be used for joint training and research programs. ＂This is one of the most important milestones of Sino-Chilean cooperation in science and technology ever obtained,＂ said President of Conicyt Mateo Budinich.     

Economy

正RMB 2nd-most Used Trade-Finance Currency Latest statistics from global transaction services organization SWIFT(the Society for Worldwide Interbank Financial Telecommunications)show that in October 2013,China’s Renminbi(RMB)overtook the euro to become the second-most used currency in world trade finance.According to SWIFT,the RMB usage rate in trade     

Economy

正1/3 China’s middle class,whose average assets are worth US$10,000to US$100,000,have doubled since the year 2000 and now account for one third of the world’s total,according to the latest Credit Suisse Group global wealth report.     

Economy

Chinese Amphibian Aircraft Makes Maiden Flight
The first China-made amphibian aircraft, Haiou 300, completed its maiden flight in Jingmen City, central China＇s Hubei Province, on July 17.     

Economy

Australia-China Scientific Collaboration Mutually Beneficial
Australia＇s relationship with China in the world of science is not opportunistic but produc- tive, according to Chief Scientist of Australia lan Chubb. In a speech at the Australian National University on August 14, Chubb said that China is increasingly important to Australia, being ＂the most significant education partner and a growing research partner.＂     

Economy

正Urban and Rural Pensions Unii ed The State Council recently declared that China would establish a unified pension system for urban and rural residents,combining the New Pension System for Rural Residents with OldAge Insurance for Urban Residents.According to Vice Minister of Human Resources and Social Security Hu Xiaoyi,the country’s migrant workers will benefit most from     

Economy

Beijing Sets New Emission Reduction Targets Beijing will continue to lower emissions of sulfur dioxide, nitrogen oxides and ammonia nitrogen and to reduce chemical oxygen demand (COD). The four are each expected to be cut by two percent from levels recorded last year, according to Qiao Shufang, an o cial with the Beijing Municipal Environmental Protection Bureau. In recent years, the permanent population in Beijing has been growing by over 400,000,     

Economy

First Moon Rover Unveiled
Chinese scientists unveiled the country＇s first moon rover on September 25 and invited the public to come up with a name for it. Zhao Xiaojin, director of the aerospace depart- ment of the China Aerospace Science and Tech- nology Corporation, described the lunar rover as carrying the dreams of Asia. It is an orbiter adapt- able to harsh environments, a highly efficient and integrated robot, and a high-altitude ＂patrolman.＂     

Economy

A report on the develop- ment of China＇s small and mi- cro firms, released by the State Administration for Industry and Commerce, claims that the broad grouping of small and micro enterprises is now a ma- jor pillar of China＇s economy and the largest job provider for new entrants into its labor market, thus constituting a foundation for China＇s stable and sustainable economic development.     

Economy

Commercial 4G Network Launched inEastern Cities Two cities in east China’s Zhejiang Province have launched a fourth-generation (4G) mobile phone network for commercial use, marking a new age of high-speed mobile Internet in China. With a RMB 500 de-     

Economy

HD Photos from Earth Observation Satellite Publicized China on June 6 publicized the first batch of photos captured by Gaofen-1, its recently launched high-definition Earth observation satellite. Released by the State Administration of Science, Technology and Industry for National Defence (SASTIND), the 13 photos     

Economy

Shanghai Pilots Carbon Trade Following the state plan announced last November to trial-run carbon emission trade in seven provinces and municipalities, Shanghai commenced a trade platform in mid-August. Local enterprises in 16 industries and six types of services are mandated to participate. Each of the chosen enterprises     

Economy

China’s Sharing Economy Worth RMB 1.95 Trillion Sharing economy platforms,such as the ride-hailing apps,created a market worth RMB 1.95 trillion(about US$298 billion)in 2015,according     

Economy

正China Sees a Big Leap in Mobile Payments Last year 125 million Chinese made payments by mobile phones,an increase of 126 percent over the previous year,and the volume of payments rose by 707 percent.Users who pay by smartphone now outnumber those who pay by other means like bank cards and the Internet,according to the 2014 China Internet Financial Development Report,published in August by the Internet Society of China(ISC)and Finance World,a Xinhua News Agency magazine.     

Economy

China Eastern Partners with Disney
China Eastern Airlines Corp Ltd and Disney Destinations International signed a memorandum of understanding on January 24 to promote their respective businesses in China＇s tourism market.