On the new starting point, China, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, will steadfastly deepen reform and opening-up, support the improvement of the multilateral trading system, push forward liberalization and facilitation of global trade and investment, build a new type of international relations centered on win-win cooperation, and build a community with a shared future for mankind.
On the implementation front, the municipality has vowed to establish 100 national level pilot smart factories, 1,000 pilot plants that received mutual recognition among the Yangtze Delta Region, and promote the intelligent transformation of 10,000 factories.
On the international level, there are two pillars underpinning the renminbi's internationalization. The first is the creditworthiness of China as the world's second-largest economy; and the second is China's gold reserves. As well as foreign exchange reserves, central banks are also major holders of gold and other securities. The PBOC has built up vast gold reserves, which are of great significance to the internationalization of the renminbi.
On Wall Street, stocks opened the second quarter of 2020 with a selloff on Wednesday, with investors fearing the impact of the coronavirus on the US economy.
On a similar note, the Asian American Business Development Center issued a joint declaration with the Hispanic Federation and One Hundred Black Men that read, in part: "As representatives of the Asian, Black and Hispanic communities, we stand together against all acts of racism and violence and stand against those who would divide us and sow mistrust and fear.
On Wednesday the court included him in an investigation into alleged generators of fake news, which was reportedly in relation with Bolsonaro's supporters.
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On Tuesday, Tokyo prosecutors issued a warrant for the arrest of Carole Ghosn, the wife of Carlos Ghosn, on suspicion of perjury, according to Japanese media.
On efficiency, considerable progress is needed. In a review of the public investment management frameworks of 30 emerging low-and middle-income countries, the International Monetary Fund concluded that 30 percent of potential economic benefits of public investments are lost due to inefficiencies in the public investment process.
On some occasions, trucks loaded with raw materials on the way to the factory were suddenly unable to proceed. The procurement team worked via 10 WeChat groups and numerous phone calls, closely coordinating material production and shipments round the clock.
On Wednesday, China announced plans to remove limits on ownership in local banks and scrap size requirements for foreign firms that operate onshore. Among the changes, overseas insurance groups will be allowed to set up units in the world's second-biggest economy, the China Banking and Insurance Regulator said as high-level trade talks between China and the US got underway in Beijing.