The market turnover of China's sharing economy reached 4.9 trillion yuan (3.5 billion) last year, a 47.2 percent increase from the previous year, according to a report released by the Sharing Economy Research Center of the State Information Center.
The measure, which will be piloted in a number of big and medium-sized cities including Beijing, Shanghai and provincial capitals starting Sept 20, will be extended across the country by the end of this year, said Li Jiangping, an official with the ministry, at a press conference.
The ministry is also endeavoring to develop more job opportunities, and is encouraging graduates to serve on the grassroots level, join the army or start their own businesses.
The marketplace is the equivalent of Alibaba's business-to-customer site Tmall, but targets only overseas customers. The achievements highlight Alibaba's potential to challenge Amazon.com Inc and eBay Inc in major markets outside China.
The market's expectation of seeing US Federal Reserve interest rate cuts may continue, Wang said. "This would give the renminbi a comparative advantage, and China is expected to stick to prudent monetary policy."
The minister said in 2018, China will continue to put the ties with ASEAN high on its agenda of international cooperation and looks to upgrade the strategic partnership and build a closer community of shared future with ASEAN.
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The ministry reported on Thursday that last month, the nation's general public budgetary income decreased by 10 percent from a year earlier, with a decline in the tax income by 7.2 percent.
The meeting called for intensified efforts to ease the difficulties facing businesses. Local governments should establish, based on local needs, special mechanisms to help companies cope with the impact of the outbreak. Temporary measures should be implemented to support small and medium-sized enterprises, including cutting or waiving rent for private, micro and small firms in State-owned properties, lowering lending rates and improving tax relief policies.
The merged Hengqin Port will facilitate more convenient exchanges between Zhuhai and Macao and accelerate development of the Bay Area under its one-off immigration and customs clearance policy, said a senior official from the Directorate of Policy Studies and Regional Development Services under the Macao SAR government. He requested anonymity.
The ministry said the ROK planned to make an in-depth discussion with the DPRK side over issues to successfully hold the inter-Korean summit in Pyongyang and ways to speed up the implementation of the Panmunjom Declaration.