China will accelerate creating a new development pattern and pursue high-quality development, Xi Jinping said on Sunday.'To build a modern socialist country in all respects, we must, first and foremost, pursue high-quality development,' Xi said in a report at the opening session of the 20th National Congress of the Communist Party of China.'We must fully and faithfully apply the new development philosophy on all fronts, continue reforms to develop the socialist market economy, promote high-standard opening up, and accelerate efforts to foster a new pattern of development that is fo...
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The presidium of the 20th National Congress of the Communist Party of China (CPC) held its first meeting on Saturday afternoon at the Great Hall of the People in Beijing.Xi Jinping attended the meeting and delivered an important speech.Presided over by Wang Huning, secretary-general of the congress, the meeting approved a list of 46 members of the standing committee of the presidium including Xi.Subsequently, Xi presided over the meeting, which proceeded with other items on the agenda. Ding Xuexiang, Chen Xi, Guo Shengkun and Huang Kunming were approved as deputy secretaries-general of the con...
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The value of transactions using the digital yuan has topped 100 billion yuan ($13.94 billion) with a variety of e-CNY application scenarios formed, the People's Bank of China (PBOC), the country's central bank, said on Wednesday.As of August 31, a total of 360 million transactions had been carried out via the e-CNY in pilot areas of 15 provinces and cities, with the cumulative transaction value hitting 100.04 billion yuan, the PBOC said in an article.The number of stores that support digital yuan payments has surpassed 5.6 million, the article went on to say, adding that local governme...
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China's credit expansion is expected to remain healthy in the fourth quarter after rebounding stronger than expected last month, setting the stage for a steady economic recovery, experts said on Wednesday.The nation's increment in aggregate social financing — the total amount of financing to the real economy — rose to 3.53 trillion yuan ($492.79 billion) last month, up 624.5 billion yuan year-on-year, according to the People's Bank of China, the country's central bank.The amount was significantly higher than market forecasts of less than 3 trillion yuan, experts said, indicatin...
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In the first eight months of this year, a total of 3.3 billion yuan in selected taxes and fees were cut for some 831,000 taxpayers in Beijing, with a temporary exemption on VAT payments worth 1 billion yuan being granted to 44,000 small-scale taxpayers, official data shows.These selected taxes are called the 'six taxes and two surcharges' for short, and include resource tax (excluding water tax), urban maintenance and construction tax, property tax, urban land use tax, stamp duty (excluding stamp duty on securities transactions), farmland occupation tax, educational surcharges, and loc...
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