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The nation will continue to promote economic and social development, as well as control and prevent the spread of the COVID-19 epidemic, with stronger counter-cyclical measures and more proactive fiscal actions, said Liu, reported by the Ministry of Finance on Tuesday.

The move came after FAW Group Corp, Dongfeng Motor Corp and Chongqing Changan Automobile Co signed a strategic deal last December to develop technologies, optimize full-value chain operation, expand global markets and devise sales modes for the sharing economy.

The move is part of a broader .5 billion package that Huawei announced in 2019 that it would invest over the next five years to build a vibrant ecosystem of developers.

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The mission to develop guoxue, the study of traditional Chinese thought and culture, is an arduous journey requiring the effort of today's youth and future generations, experts asserted at a recent education forum in Beijing.

The move to dismantle the real tollgates will help resolve traffic jams on provincial borders, said Dai Dongchang, vice-minister of transport in a policy briefing in May.

The nation is a net exporter of some reclaimed materials, including mixed paper, cardboard, and plastic. In 2016, the UK collected 1,015,226 metric tons of waste plastic for reprocessing. Only 330,731 tons of it was recycled domestically. Around 684,495 tons were exported, according to the UK's Environment Agency.

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The move came after the first-phase manufacturing fund of 20 billion yuan was invested in companies engaged in railway equipment, industrial robotics, new energy vehicles and other sectors.

The momentum is expected to continue over the next 12 months. According to Deloitte estimates, about 150 to 180 companies are likely to raise funds from the STAR Market next year, with the total financing amount expected to be between 250 billion yuan and 300 billion yuan. Nearly 170 companies will raise 170 billion yuan on the ChiNext. Another 150 companies may go public on other boards of the A-share market, raising approximately 170 billion yuan.

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The multinational professional services company Accenture reported in its "China Enterprise Digital Transformation Index" published last September that 80% of Chinese companies were experimenting digital transformation.

The move represents a broader trend among Chinese smartphone vendors. The 3rd Generation Partnership Project, or 3GPP, a body that governs global cellular standards, agreed late last year on the technical specifications of how 5G should work. The decision has accelerated companies' steps to develop 5G-powered handsets.