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At the meeting, Choe Ryong-hae was elected first vice-chairman of the SAC and president of the Presidium of the SPA. The session also elected Kim Jae-ryong as premier of the DPRK cabinet.

At the meeting, it was decided that financing services and land-use support will be bolstered for rural entrepreneurship, as will policies to provide guarantees. The financing model covering government, banks and insurance will be extended to rural startups. Rural entrepreneurs will be allowed to launch small processing programs using rural homestead plots to build factories. More investments will be made to upgrade rural infrastructure, including transportation and electricity. Broadband coverage will be expanded, and faster internet services will be provided at lower cost.

At present, Tesla has established its charging network covering more than 170 cities in the country and has built more than 1,300 fast-charging supercharging stations in total.

At the ceremony for the new “Silk Road Headquarters”, Wang Yongkang, Xi’an municipal Party secretary, unveiled the company name and Li Yi, Party secretary of the Xi’an Hi-tech Zone, and Zhong Tianhua, vice-CEO of Alibaba, delivered speeches.

At present, accelerating the development of infrastructure in energy, transport and ICT sectors has become a wide consensus among African countries in driving economic growth, but financing has been a huge challenge. Africa requires Chinese soft loans and grants to support infrastructure development.