The Chinese ambassador said the expansion of the SCO shows that the organization's global influence is increasing.
The Canton Tower Science & Technology Conference held in 2019 in Guangzhou. [Photo/cantontowerstc.com]
The Chinese government will face an unprecedented rise in the budget deficit this year to implement expansionary fiscal measures and lessen the near-term economic slowdown while still preventing elevated debt, analysts said on Tuesday.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 2.63 percent to close at 2,868.88 points Monday.
The Chinese embassy statement said the US persisted in conducting the "301 investigation" and announced relevant trade measures, ignoring rational voices, and in disregard of the mutually-beneficial nature of China-US trade relations and the consensus reached by the two countries of managing differences constructively through consultations. It is a typical unilateral trade protectionist action.
The Chairman of CRBC SGR operations, Li Quanhuai, observed that more than 800 Chinese experts have arrived in Africa to offer their skills under the Belt and Road Initiative (BRI).
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The China Securities Regulatory Commission condemned Luckin Coffee's financial fraud on its official website on Friday.The country's top securities regulator vowed to resolutely crack down on securities fraud and protect investors' interests, according to the announcement.Listed companies should strictly obey the laws and regulations to disclose information in a true, accurate and complete manner.No matter where the company was listed, CSRC would investigate and crack down on fraudulent securities behaviors based on the law and international securities supervision cooperation arrangements, CSRC said. Luckin Coffee announced on Thursday that it had about 2.2 billion yuan (0 million) in fabricated transactions.The aggregated sales amount associated with the fabricated transactions was from the second quarter to the fourth quarter of 2019, according to an internal investigation.The figure has not been independently verified and is subject to change as the internal investigation proceeds.Certain costs and expenses were also substantially inflated by fabricated transactions during this period, the announcement said.The shares of Luckin collapsed as much as 81 percent on Thursday, the most within one day since its IPO on the Nasdaq Stock Market last May.The US-listed company Luckin Coffee, issuing securities via overseas regulators, registered in the Cayman Islands in June 2017.
The Chinese entrepreneur won the auction for this year's Buffett lunch with a record high .57 million bid in June, while he canceled the planned lunch meeting, claiming he had "a sudden kidney stone attack" in a Tuesday post on Weibo.
The Chinese government subsequently opened four special economic zones in 1980 based on the Shannon model. These became a major driving force for China’s economy, allowing private investment to flow into the country and allowing for a huge transfer of skills and technology to take place.
The Chinese Foreign Ministry said on Wednesday that the move by the three biggest US airlines to change how they refer to Taiwan on their booking websites was a "positive development".