going reform measures have made its financial market increasingly appealing to overse
as investors,” the administration said on Monday in a statement on its website.
“The administration will continue to support the opening-up of financ
ial markets, meet demand from overseas investors to expand investment in the ma
rkets and attract global long-term capital to enter China’s financial markets,” it said.
Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore
ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co
mpared with $3.099 trillion by March, according to data released by the administration on Tuesday.
China is willing to see the accelerated development of the onshore capital market, said analysts, allowing direct fi
nancing to play a more significant role in allocating savings and investment, and better serve the economy.
ures are consistent with the top-line measured GDP growth number. For example, production and
supply of electricity, thermal power, gas and water increased by 7.1 percent in the quarter. Pl
us, value-added index of transport, storage and post increased by 7.3 percent.
A closer look at the highest growth sectors shows that the economy is moving toward the long-term goal of shif
ting away from a development strategy based on heavy investment in industry and
infrastructure to one based on services and domestic consumption. Also, more productive industries that tur
n out higher-value added goods are growing at a much faster rate than traditional heavy industry.
Among large companies, State-owned enterprises grew 4.5 percent yea
r-on-year while shareholding enterprises grew almost twice as fast, at 7.8 percent. So, stro
ng progress is being made toward the goal of promoting private enterprise, which was re
inforced by many policies announced at last month’s meeting of the National People’s Congress.
Xi reviewed 18 vessels from 13 countries invited to participate in a naval parade on Tuesday afternoon.
The foreign vessels in the waters off eastern China’s coastal city of Qingdao saluted
Xi, who was on board the destroyer Xining, in their traditional manners as they passed by.
The vessels whistled and officers and soldiers stood in a ceremonial formation, saluting Xi as they passed by.
“Salute to you, comrades,” Xi called out to the officers and soldiers.
“Hail to you, chairman,” they replied.
Xi alternated the greeting with “Comrades, thanks f
or your hard work,” to which the officers and soldiers replied “Serve the peop
urn the salute, and Xi waved to the naval officers and soldiers aboard the vessels
i onboard the destroyer Xining gave an order to commence the naval parade on the sea off Qingdao at about 2:30 pm Tuesday.
A total of 32 vessels of the People’s Liberation Army Navy sailed in six groups, and 39 warplanes of the navy flew in ten echelons.
China’s customs officers have seized 2,748 ivory tusks weighing a combined 7.48 metric tons after cracking a major smuggling case.
It was the biggest haul of tusks ever recorded in an anti-smuggling bust conducted in
dependently by customs officers, the General Administration of Customs said on Monday.
The case was solved in March after a combined operation of differ
ent customs offices lasting three months. A total of 238 custo
ms officers took part from cities around the country, including Hefei, Nanjing, Beijing, Fuzhou and Qingdao.
Twenty suspects were detained for further investigation, accor
ding to Sun Zhijie, director of the administration’s anti-smuggling bureau.
Sun said the tusks, illegally shipped from African countries, were imported into China labeled as wood.