Central bank vice-governor voices confidence amid currency volatility
The monetary authority vowed to stabilize the renminbi amid escala
ted trade tensions, while continuing to push forward financial opening-up and pr
otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.
“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma
rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi
ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.
Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do
llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h
The emerging service sector also grew very fast, Meng said.
In April, the information transmission industry, along with software and inform
ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.
Online retail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m
onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.
She said the transformation of traditional industries is speeding up as they combine with information technology.
“Through implementing national big data and internet plus strategies, internet, big da
ta, and artificial intelligence technologies have been widely used in China’s real economy,” she said
peration in AI governance including laws and regulations, ethical norms and international rules,” Wang said.
The State Council issued a plan in 2017 that set benchmarks for China’s AI sector, with the value of core AI indu
stries predicted to exceed 1 trillion yuan ($145 billion) and make the country the global leader of AI innovation by 2030.
In December, Tianjin unveiled a three-year plan to boost the innovative development of seven AI-related indust
rial chains including independent and controllable information systems, smart security, big data, advanced co
mmunications, intelligent connected vehicles, industrial robots and intelligent terminals.
According to the plan, the government will build Tianjin into an AI in
novation center and a hub of AI industries and innovative applications by 2020.
While some netizens praised the story, others felt cheated for the home decoration advertisement afte
r the video. Jiang Luxian, a lawyer from Chengdu, Sichuan province, said the advertisement probably violates relevant provisions of the A
dvertising Law, and the creativity of “sharing father” is also improper for public order and traditions.
Oppein, the creator behind the promotion, however, said on social media that
it hoped everyone would pay attention to the lack of father figures, and return to the family for love.
“Everything can be shared in this era, apart from family love,” the company said.
China’s foreign direct investment climbed 6.4 percent year-on-year to 305.24 billio
n yuan ($44.38 billion) in the first four months, the Ministry of Commerce said Thursday.
Meanwhile, investment from South Korea, the United States and Germany in Chin
a grew 114.1 percent, 24.3 percent and 101.1 percent year-on-year, respectively.
In April alone, FDI amounted to 62.95 billion yuan, up 6.3 percent year-on-year.