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The Chinese government has positioned cultural tourism as a strategic pillar industry of the national economy. Zhejiang, for example, saw the added value of the cultural tourism industry account for 15.4 percent of the province's GDP in 2018.

The Chinese central bank announced Sunday that it will cut the cash amount required to be reserved in commercial banks by 50 basis points starting July 5, a measure to facilitate targeted lending to small and micro enterprises.The fund, to be released through cutting the reserve requirement ratio in the five largest State-owned banks and 12 joint-stock commercial banks, could reach nearly 500 billion yuan (.9 billion), as the People’s Bank of China, the central bank, estimated in a statement on its website.This part should be used “to support the market-oriented debt-to-equity swap projects, and to leverage the same amount of private capital participating in the investment”, according to the statement. Another 200 billion yuan -- to be freed from postal savings banks, city and non-county rural commercial banks, and foreign banks -- will be lent to small and micro enterprises to lower their financing costs, it said.Financial institutions’ activities in both of the two ways will be supervised by the PBOC’s macro prudential assessment framework, a set of tightened regulatory standards to prevent systemic financial crisis, the statement said.

The Chinese car market began slowing from July 2018 and the situation is not expected to improve soon.

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The Central Commission for Discipline Inspection (CCDI) has a website to allow people to tip off the CCDI to corruption and other disciplinary violations. [Photo/IC]

The Central African Republic is "a continental country that does not have an outlet to the sea, and this hampers its development", Touadera said.

The Chicago Board Options Exchange's volatility index, called VIX, registered its highest-ever close Monday at 82.69, topping the 80.74 posted during the 2008 financial crisis triggered by the collapse of the sub-prime housing market. But the index declined 2.21 points early Tuesday. The "fear index" gauges the market's expectation of volatility based on S&P 500 Index options.

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The Chinese big data company BBD established an accelerator in London this summer, which now partners with around 10 British and Chinese companies, assisting them in expanding into each other’s markets.

The China Electronic Local Government Bond Market Access platform (http://www.celma.org.cn) run by the Ministry of Finance will release information including local governments' debt ceilings and outstanding debts and the bonds they have issued.

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The CSRF, a venture that aims to establish a sub-fund to support State-owned enterprises' reorganization, is China's biggest investment fund raised from SOEs.

The Chinese government has initiated an ambitious campaign to downsize steel production, with more than 50 million metric tons of crude steel capacity eliminated last year.