The free trade account mechanism within the Shanghai FTZ has been an important tool in facilitating the development of the real economy. More than 38,000 Chinese and overseas companies have registered more than 72,000 FTAs in Shanghai. Total cross-border settlements stand at 25.9 trillion yuan (.7 trillion), reaching 161 countries and regions.
The fund, which raised around billion in its first outing, has been a target for US politicians concerned that Chinese firms could challenge chip giants in the United States like Qualcomm Corp , a big supplier to Chinese firms.
The fund has contributed to China-Africa economic and trade cooperation in a market-oriented way and invested more than .4 billion in 36 African countries.
The government has announced that the nation will expand effective investment this year, with full-year investment in railway construction to reach 800 billion yuan, and in road construction and waterway projects to reach 1.8 trillion yuan. It also promised to strengthen the construction of next-generation information infrastructure.
The gathering is scheduled for April 6-7 and half of the participants are expected to be from China. So far, five Chinese cities - the Shunyi District of Beijing, Beichen District of Tianjin, Xuzhou, Changzhou and Nanchang - have confirmed their attendance. The organizers expect more confirmations in the coming weeks.
The government information disclosure system has also been improved, with decisions, the implementation of measures, management, services and results of efforts publicized, which will make it easier for the public to obtain government information and supervise its work, the ministry said.
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The fund was established jointly by the Beijing Science and Technology Innovation Investment Management Co Ltd, Beijing Yizhuang International Investment and Development Co Ltd and State-owned China Jianyin Investment Ltd. It will focus on investing in leading high-tech firms across the entire 5G industrial chain.
The four high-level dialogue mechanisms were established by the two presidents during their Mar-a-Lago meeting in April at Palm Beach, Florida.
The foundation sent a letter earlier through its lawyer to Guangdong Xinhua Publishing and Distribution Group, the sole distributor for the textbook in Guangdong province, after volunteer proofreaders spotted the content in a reference book for teachers.
The government will further refine the environment for starting new businesses, making innovations and attracting more talents, he said.