The China Railway Corporation has been renamed China State Railway Group Co Ltd, a wholly State-owned enterprise with registered capital of over 1.73 trillion yuan (1 billion), according to a statement from the company on Tuesday.
The CSRC said it would continue to firmly crackdown on financial fraud and deception of listed firms to protect the rights of investors and create a better market environment.
The Center of Science and Technology & Industrialization Development (CSTID), a research institution under the Ministry of Housing and Urban-Rural Development (MoHURD), will manage the delivery of technical assistance support to Beijing, Fuzhou, and Qingdao, as well as most central communication and outreach functions of the C40 CBP. The China Association of Building Energy Efficiency (CABEE), a non-profit association composed of building energy efficiency products and service enterprises, will manage the delivery of technical assistance support to the Changning District, Shanghai, as well as capacity building functions for the China Better Buildings Challenge.
The Cabinet's decision followed a 6.8 percent contraction in economic activity in the first quarter due to the novel coronavirus pneumonia pandemic.
The Chinese banking sector has disposed of nonperforming loans totaling 3.48 trillion yuan since 2017. The NPL ratio for commercial banks stood at 2 percent at the end of January this year, and the provision coverage ratio was 186.8 percent, signaling strong risk resilience capabilities, according to the China Banking and Insurance Regulatory Commission.
The Chinese government decided to send a third group of medical experts to Italy to help the country cope with the novel coronavirus epidemic.
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The Chinese currency, the yuan, also saw sustained strength this year, with its central parity rate firming to a 20-month high against the US dollar on Jan 8.
The Chinese government places high importance on the renovation of old urban residential areas. Premier Li Keqiang pointed out in this year's Government Work Report that old residential areas in cities, large in both number and area, need to be upgraded with greater efforts, including updating roads and water, power, gas and other facilities, supporting the installation of elevators and the development of barrier-free environment, and improving amenities like markets, convenience stores, pedestrian streets and parking lots.
The China Chamber of Commerce of Foodstuffs and Native Produce signed an agreement with the US Soybean Export Council to import a large amount of soybeans. Reignwood Star, a civil aviation company based in Beijing, agreed to buy helicopters from Bell Helicopter.
The China (Shanghai) International Technology Fair, the only national trade fair for technology in the country, is jointly organized by the Ministry of Commerce, the Ministry of Science and Technology, the National Intellectual Property Administration and the Shanghai Municipal Government.