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China's consumer confidence index in the first quarter hit the highest score since 2015, buoyed by an improved macroeconomy and surging consumption power, Nielsen's latest survey showed on Tuesday.
China's innovations impress foreigners, change startup game, boost confidence
China's foreign exchange reserves stood at .1249 trillion at the end of April, lower than the .1428 trillion registered at the end of March, according to the central bank.
China's financial regulator said the country will keep crossborder capital fluctuations under control, during the process of opening the financial sector further, to limit risk of exposure to speculative money from outside.
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.
