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China's second biggest e-commerce player, JD.com Inc, reported its net revenues for the second quarter reached 93.2 billion yuan (.7 billion), an increase of 43.6 percent from the second quarter of last year.
China's plan to free up the yuan fully could take some more time to achieve as the current top priorities for the government are to maintain a stable currency value and prevent risks from cross-border capital flows, economists said.
China's top leadership has pledged to further open the economy including the financial industry to foreign players in an orderly way. It is evidenced by the regulator's decision to further relax shareholding restrictions on foreign investors in the domestic mutual fund management companies and securities firms.
China's reform and opening-up has contributed a great deal to the world economy — especially through the growth of trade and investment — according to Geoff Raby, Australian ambassador to China from 2007 to 2011.
Chinese Enterprises of Commerce in Liberia donates a batch of medical supplies and food to help the Liberian government stop the spread of the COVID-19 epidemic. [Photo/Frontpage Africa Online]