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China's Geely Holding is to set up a new joint venture with Volvo Cars to share existing and future car technology, according to a Memorandum of Understanding the two parties signed on July 20.
China's AuM rose to .2 trillion last year, up from .4 trillion in 2016 and .5 trillion at the end of 2012. The growth was spurred by China's high household-savings rate and reforms that have encouraged pension funds and insurers to use asset managers, the report said.
China will strengthen its national strategic technologies with efforts including giving full play to the state's role in organizing major science and technology innovations.
China will speed up developing several strategic emerging industries, including new-generation information technology, biotechnology, new energy, new materials, high-end equipment, new energy vehicles, environmental protection, aerospace, and marine equipment, according to the document.
China will further open up its auto industry by reducing red tape.
来源：资阳报