In the early 2000s, China's development model was based on low-wage manufacturing combined with high savings and investment rates. The very success of that model in drastically raising living standards has now led the Chinese government to adopt an ambitious set of policies to upgrade China's industry, to escape the so-called middle-income trap and to support a green environment.
In the first half, the increased installed capacity of renewable energy, including nuclear power, wind power, and solar power, accounted for 66.1 percent of China's total increased installed power generation capacity, according to the NEA.
In the face of the COVID-19 challenges, economic stimulus and relief measures of the HKSAR government has boosted the deficit by nearly 290 billion Hong Kong dollars (.41 billion) and the fiscal reserves have dropped to about HK0 billion.
In the first 11 months, FDI in the services sector climbed 13.5 percent year-on-year to 582.75 billion yuan (.08 billion), or 72.5 percent of the total.
In the congratulatory message, Premier Li said the relations between China and the African country have developed significantly since the countries resumed diplomatic ties, with deepened mutual political trust and expanded cooperation in various fields to benefit both peoples.
In the aftermath of the novel coronavirus outbreak, policymakers and economists worldwide will likely find themselves revisiting and reviewing afresh the "old economy vs new economy" debate, if not urgently recommending a rebalancing of the sectoral proportion of big economies with large populations.
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In the Midwest, four states reported record one-day increases in COVID-19 cases on Saturday, a national trend for a second straight week, according to a Reuters analysis.
In the few instances where manufacturing does return to the US, it will probably not create jobs in the old Rust Belt, he wrote. Instead, the goods are likely to be produced by robots, which are as likely to be located in high-tech centers as elsewhere.
In the first 10 months, local governments issued nearly 4.28 trillion yuan in bonds, including 2.53 trillion yuan in special-purpose local government bonds aimed at providing financial support for public-interest projects.
In the first six months of 2017, fiscal revenue climbed 9.8 percent year-on-year, relatively fast growth, the MOF said in a statement.