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Gao Feng, the ministry's spokesman, said China and the EU hope this agreement will benefit companies and investors from both sides at an early date, especially in the context of the impact of the COVID-19 epidemic on the global economy.

GAC Group, a Guangzhou-based automobile company, reached an agreement with CATL, or Contemporary Amperex Technology Ltd, a Chinese company focusing on research and development, production, and sales of EV battery and energy storage battery systems, to jointly set up two subsidiaries on Thursday.

Further deepening their ties, Netflix is a major?Amazon Web Services customer, streaming its content from Amazon’s cloud.

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Further to the proposal in the 2019-20 Budget to reduce salaries tax, tax under personal assessment and profits tax for the Year of Assessment 2018/19 by 75 percent, the reduction will be increased to 100 percent. About 1.43 million taxpayers will benefit from a further saving of 1.84 billion HK dollars, the financial secretary said.

Gao Shuxun, head of China-South Asia Expo Executive Committee, told Xinhua, "Such overseas expos will enhance business cooperation in the whole region and will also contribute to China's Belt and Road Initiative."

Future energy development and the Belt and Road Initiative will take center stage in China's Pavilion at the Astana Expo 2017 in Kazakhstan later this month.

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Gao Wenyue, managing director of Standard Bank China, said, "We've helped ICBC carry out foreign exchange services in all Belt and Road countries in Africa."

GUANGZHOU -- Marine police in South China's Guangdong province said on Wednesday that they had busted a criminal gang for smuggling more than 40,000 tonnes of finished oil products since 2019.

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GREENER GROWTH

Funds raised through direct financing channels, such as bond issuance, only take about less than 50 percent, while about 40 percent of local government financing come from short-term expensive products, according to the report.