The central SOE poverty relief fund has so far enlisted 104 shareholders with a total funding of 15.4 billion yuan since it was launched in October 2016.
The city authority said that 18 percent of the expats working in Shanghai are deemed as high-end talent from overseas, and both the number and quality of foreign talent introduced to Shanghai were ranked first in the country.
The civil aviation development fund will subsidize companies in the sector to invest in fixed assets for the control of the novel coronavirus disease (COVID-19), the administration said in a statement.
The city government and the company signed a strategic cooperation agreement in August 2017. The project, with a total investment value of more than billion, was settled in the Wuxi high-tech district. It is the largest-ever single investment in Wuxi. The project is also the first production facility that Huahong Group has invested in outside Shanghai.
The center uses routers and switches produced by Huawei Technologies Co Ltd and Cisco Systems Inc, and intrusion detection and prevention systems made by the Beijing-headquartered Nsfocus Information Technology Co Ltd, an internet and application security company.
The city's economy has expanded seven times since 1999, and the city's GDP per capita is now the second highest in the world.
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The central government has decided to cut its expenditures to step up transfers to local governments. More than 7.5 trillion yuan (.1 trillion) of transfer payments are expected this year, the most in recent years, Liu said.
The city government said Park Won-soon's funeral will last for five days in the fashion of a mayoral funeral, unlike a three-day general funeral. A memorial altar was set up in front of the City Hall in central Seoul on Friday afternoon to allow citizens to mourn his death.
The central bank will maintain a prudent and neutral monetary policy, with easing or tightening only as appropriate, and make the financial sector better serve the real economy, according to a report published by the bank in early November.
The central government and various levels of local governments across China have been investing heavily in poverty alleviation over the years.