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A slew of new policies aimed at encouraging consumption
in key sectors will be unveiled soon, China Securities Journal reported.
rcent year-on-year to 9.78 trillion yuan ($1.46 trillion) in the January-M
arch period, according to the National Bureau of Statistics (NBS). In March alone, retail sales went up 8.7 pe
rcent to 3.17 trillion yuan, quickening from the 8.2-percent rise seen in the first two months.
In recent years, the government has, on the one hand, frequently intro
duced policies to promote opening-up, increase import and improve consumer welfare. On
the other hand, it has reduced and scrapped import tariffs on some consumer goo
ds. This has played an active role in consumption, Lian Ping, chief economist at Bank of Comm
unication said, adding that consumption still is the key driver for economic growth.
eing restored as well. We have no room for even the slightest error,” Song said.
Liu Qingzhu, a cultural heritage expert at the Chinese Academy of Social Sciences, said, “In anci
ent times, thunderstorms were the biggest threats for wooden architecture. They became much safer after l
ighting rods were widely installed. However, the use of electricity in restorations has created a new problem.”
Unlike the stone structures of much ancient architecture in the W
est, wood was the primary building material in ancient China. “If a fire similar to the one at Notre
Dame in Paris happened at a Chinese building, the whole building would probably burn down,” Liu said.
Hours after the fire in Paris, the Palace Museum in
Beijing, China’s former imperial palace from 1420 to 1911 and also known as the Forbidden City, held an eme
rgency meeting to go over its fire-prevention efforts. It is the world’s biggest architectural complex made of wood.
Chinese scientist says resilient varieties boost harvests, minimize use of fertilizers
A decadelong agricultural project spearheaded by Chinese scientists has helped alleviate poverty for more than 1.6 million f
arming households in 18 Asian and African countries through cultivation of high-yield and resilient rice strains.
The Green Super Rice project, led by the Chinese Academy of Agric
ultural Sciences, has generated 78 rice varieties that boast an average 20 percent increase in har
vest per hectare while minimizing the use of fertilizers, pesticides and irrigation, said Li Zhikang, a professor and
researcher of rice breeding at the academy and a leading member of the project, on Tuesday.
The total area planted with the varieties in participating countries h
ad expanded to 6.12 million hectares by the end of last year, including around 3.4 million hect
ares in the Philippines, 1.3 million hectares in India and 1.1 million hectares in Vietnam, he said.
construction, and other industries will be lowered from 10 to 9 percent, while the lowest bracket rate will remain unchanged at 6 percent.
In order to reduce tax burdens for all industries, the government also adopted supporting
measures, such as increased tax deductions for producer and consumer services.
Gao Peiyong, vice-president of the Chinese Academy of Social Sciences, told China Securities Journal that VAT reduction
will trigger a domino effect through deduction mechanism, ultimately benefiting economic and social development.
The first day of rate reduction saw industries involved in oil,
electricity, natural gas, iPhones and automobiles all cutting their price.
According to data compiled by Chinanews, the maximum retail prices of gasoline and diesel fell 225 ($33.49) and 200 yuan
per ton, respectively; railway sector dropped or canceled some freight fees, expecting to give up 6 billion yuan to enterprises.
Prices for iPhone XS and iPhone XS Max declined as much as 500 yuan,
and iPhone XR, iPhone 8 and iPhone 7 also had their price fall by 300 yuan.