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During the pilot period, those who qualify for the rental scheme-those aged 60 and above, people with some disabilities and low-income individuals-can apply for a maximum subsidy of 50 percent of the rental price. The maximum subsidy per person cannot exceed 3,000 yuan per year.

During the process, local governments must avoid excessive intervention in economic activity and resist any temptation to go in for a policy overkill. For, that may increase operating costs for companies.

During his visit to China this month, Moon stressed that Seoul is ready to work with Beijing to improve and develop bilateral ties and strengthen cooperation in the innovation industry, financial investment, agriculture, environment protection and tourism.

During his keynote speech at the China International Import Expo on Nov 5, President Xi Jinping elaborated on three decisions on the development of Shanghai, one of which is the introduction of a science and technology innovation board at the Shanghai Stock Exchange.

During the five-day discussion via video call, officials from Beijing and Shanghai governments, the Ministry of Finance, Supreme People's Count and the State Council made in-depth changes with the World Bank, focusing on updated reform measures to optimize the business environment in China between May 2, 2019 and May 1, 2020.