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Chinese automakers have reportedly been interested in entering the competitive US market. In January Guangzhou Automobile Group or GAC, said it would open a research and development (R&D) center in Silicon Valley in California.
Chinese companies recorded 34.4 percent jump in R&D expenditure to reach .1 billion in 2018, eclipsing the global average of 11.4 percent, said the 14th edition of the Global Innovation 1000 Study Report.
Chinese internet security company Qihoo 360 Technology Co is set to return to A-share market through a backdoor listing after agreeing a 50.4 billion yuan (.61 billion) deal with elevator maker SJEC Corp.
Chinese people's consumption of services has been steadily rising over the past two decades. Use of transportation and telecommunication services, for example, accounted for 18 percent of urban residents' total consumption in 2018, up from only 7 percent in 1998, according to a report by Moody's Investors Service. Residential expenditures for services in education, culture and entertainment and healthcare also increased substantially in the past 20 years.
Chinese policymakers, therefore, have been cautious about lowering interest rates. To maintain stable growth, they have instead resorted to RRR cuts three times last year, which can release more funds into the market and are less likely to trigger asset bubble risks.
来源：资阳报