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China is to introduce new policies on recycling scrapped motor vehicles, which is expected to stimulate the consumption of new and second-hand cars.
China is ready to work with Canada to safeguard rules-based international order and free trade, promote trade liberalization and investment facilitation, Premier Li Keqiang told his Canadian counterpart Justin Trudeau on Wednesday in Singapore.
China is expected to convene the tone-setting economic conference soon — reportedly next week. Economists at home and abroad said it may reaffirm the decisions made at the Political Bureau of the Communist Party of China Central Committee meeting on Dec 8, such as pushing the three major tasks of preventing major risks, reducing poverty in a targeted manner and controlling pollution.
China is also finding ways to make its assistance more effective and is generating new momentum for South-South Cooperation through the Belt and Road Initiative.
China has thousands of SOEs, but many have stagnated due to a lack of competition. The government is trying to improve their performance through reform, moving toward mixed ownership and market-oriented management to improve efficiency.