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China's major bourses have promised to step up various efforts. Shanghai Stock Exchange said in a statement it will further reform and improve underlying institutions such as those for registration-based initial public offerings (IPOs), market exits, mergers and restructuring, and refinancing.
China's fixed-asset investment growth was 5.4 percent in the first three quarters, 0.6 percentage point lower than in the first two quarters but 0.1 percentage point higher than in the first eight months, indicating that growth was slightly accelerating.
China's labor is becoming expensive too, and more skilled. So, China needs to move away from setting up industries that basically service imports from East Asia. Instead, China should set up industries that are indigenous and can use innovation to produce new products. The country is already doing this quite well. China has beaten the US in 5G, and leads in artificial intelligence.
China's consumption upgrade is bringing glad tidings to the stock market as shares in related companies have been rising of late.
China's manned submersible Jiaolong surfaces after its dive in Yap Trench, June 9, 2017. Jiaolong completed its 150th dive on Friday since 2009. [Photo/Xinhua]
