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China's fiscal spending expanded 12.5 percent year on year to 9.3 trillion yuan during the January-May period, the MOF data showed, with social security and employment and education taking the lion's share.
China's domestically-produced cars are more internationally competitive than they were five or ten years ago, meaning that the country's recent opening-up measures such as lower tariffs and the removal of foreign ownership caps will have a smaller impact, according to Paul Gong, executive director of UBS Investment Research Asia Autos.
China's latest action came after the US government started to impose punitive tariffs on billion of Chinese imports on Friday. China then retaliated by levying duties of the same amount to defend its interests.
China's logistics industry posted steady growth in the first half of this year. The total value of social logistics goods in the first half grew 6.1 percent year-on-year to 139.5 trillion yuan, according to the China Federation of Logistics and Purchasing.
China's financial regulators have recently tightened risk control, with the China Banking Regulatory Commission vowing to "become more active in financial risk control" and the China Insurance Regulatory Commission ramping up supervision of insurers.
来源：资阳报