tertiary sector, which is mainly services, grew from 56.7 to 57.3 percent of GDP from the same period last year. The Index of Services Production increased 7.4 percent year-on-year, higher than the growth rate of overall GDP. Overall retail sales of consumer goods also grew at 8.3 percent. Sales of upgraded consumer goods witnessed fast gro wth, with the highest rates concentrated in upgraded products such as cosmetics, phones and computers. And, high-tech services grew at an astonishing rate of 21.2 percent. In prepa ring for consumer 5G telecoms next year, the output of mobile communications base stations grew 153.7 percent. The data also showRead More →

 transit. According to NBS preliminary estimates, the share of consumption of clean energy such as natural gas, hydropo wer, nuclear power and wind power in total energy consumption in the first quarter was 1.5 percentage points hi gher than that of the same period last year. Energy consumption per unit of GDP went down by 2.7 percent year-on-year. Total investment in fixed aassets grew by 6.3 percent, with private invest ment growing at 6.4 percent, slightly faster than the overall number. This is es pecially significant in the light of last year’s fears that private investment in the econo my might collapse. So, the government’sRead More →

orts and exports rebounded sharply in March, reaching 9.6 percent higher than March 2018. S o, overall trade grew by 3.7 percent year-on-year in the quarter despite low growth rates in January and Febru ary. Exports of electrical and mechanical products, which are higher value added, grew by 5.4 percent in the qua rter. And, private sector trade grew 9.9 percent, far more than the overall growth rate. I am worried to see that total investment in real estate grew by 11.8 per cent year-on-year. Having lived through the 2008 finan cial crisis in the United States, I’m wary of continued high investment in realRead More →

Firms from China and the UK are ideal partners in many countries along t he Belt and Road Initiative, a China-Britain Business Council official said in Beijing. “The UK has taken a very positive view on seizing these opportunit ies for UK businesses, particularly our banks, our large consultancy firms and our infr astructure companies,” said Jeff Astle, managing director of China operations at the council. British expertise in areas of financial services, banking, legal services, consulting services around engineering pro vides a broad range of opportunities for UK firms to collaborate with Chinese firms in other countries, Astle said. “We benefit from many EnglishRead More →

tiative for a very long time, Astle has identified many opportunities provided by the BRI and some great projects are already successfully being implemented with Chinese partners. The world’s only medicine treating spinal muscular atrophy (SMA) is entering the Chinese market, it was announced Sunday. The drug is registered under the name Spinraza in the United States and European Union. Available in more than 40 countries and regions, Spinraza is expected to bring new hope for those who living with SMA, a genetic disorder that affects muscle control, in China. SMA affects between one in 6,000 and one in 10,000 in China, a nd aboutRead More →

of the 55 rare disease medicines available on the Chinese mainland have been partly or fully covered by the country’s medical insurance system. The average medical bill for rare disease patients is 200,000 yuan ($ 29,700) a year and more than 40 percent of patients have received no medical tre atment due to the high prices, according to Li Linkang, China Alliance of Rate Diseases executive director. Biogen, the United Sates-based pharmaceutical compa ny that developed the drug, said that it is talking to the C hinese government, the medical and patient communities, and charitable orga nizations in a bid to establish a co-payment systemRead More →

Hainan provincial health authorities have revoked Boao Yinfeng Healthcare International H ospital’s business license, for illegally administering HPV 9-valent vaccines, according to a statement Sunday. Located in the Boao Lecheng International Medical Tourism Pilot Zone, the hospit al has since January last year vaccinated 37 customers with HPV 9-valent, charging each 9,000 yuan. They did so without obtaining an official vaccination outpatient license, said the statement. It said the local health commission of Qionghai, where the Boao pilot zone is loc ated, on April 18 issued the hospital a notice of penalties, including a warning, confiscati on of illegal income, a fine of 8,000 yuan,Read More →

Peng Yuxing, vice-governor of Southwest China’s Sichuan province, is under disciplinary and supe rvisory investigation for suspected severe violations of disciplines and laws, an official statement said Sunday. The investigation is being conducted by the Communist Party of China Central Co mmission for Discipline Inspection and the National Supervisory Commission. Peng, a Sichuan native, was born in 1962. He graduated from Sichuan University with a master’s degree in 1985 and in July 1992 r eceived his science doctorate from Pierre and Marie Curie University in Paris, specializing in polymers and materials. He pursued a postdoctoral degree at ExxonMobil Chemical France from July 1992 to DecemberRead More →

President says gathering sets stage for more Belt and Road progress, cooperation More than $64 billion in deals were signed during the Second Belt a nd Road Forum for International Cooperation, President Xi Jinping told members of the me dia from home and abroad in Beijing after the three-day event concluded on Saturday. In addition, Xi said, during the preparation and holding of the fo rum, parties reached 283 pragmatic outcomes, including intergovernmental cooperation agre ements, cooperative projects and the launch of multilateral cooperation platforms. The outcomes fully demonstrate that joint building of the Belt and Road conforms to the trend of the times, wiRead More →

 an independent choice based on the objective need of the country’s reform and development. This is helpful in promoting high-quality growth, meeting the people’s need s for a better life and promoting peace, stability and development of the world, he said. China also hopes that other countries will create a good investment environment, treat Chinese enterpris es, students and scholars equally and create a friendly environment for their normal international exchange activities, Xi said. Xi pledged to take stronger measures to promote international cooperation in protecting intellectual pro perty, which he said is not only crucial to protecting the legal rights of companies but alsoRead More →