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Bouee, who has written extensively about the Chinese economy, said that regardless of tax cuts, the country's private sector is now one of the most vibrant in the world.
Break the moldThe breakthrough would not have been possible without a new set of car selling regulations becoming effective on July 1. For more than a decade, most Chinese car buyers have turned to authorized 4S stores, a full-service approach that brings together sales, services, spare parts and surveys. The preceding measures first implemented in 2005 required that all car dealers secure authorization from brand owners, and helped maintain the market, contributing to the growth of the Chinese auto market into the world's number one, the Ministry of Commerce (MOC) said. China had remained the world's largest automobile manufacturer and market for eight consecutive years by 2016, when output and sales of passenger cars both exceeded 24 million units. However, domination of the 4S-shop model gave rise to monopolistic practices, dragging competition and making automobile parts expensive. New rules for car sales allow both authorized and unauthorized dealers to sell cars in China, making it possible for different methods of car sales, including markets like Suning's. The measures will allow car dealers and different auto brands to share sales and after-sales services, an approach that will save resources, improve efficiency and improve services, the ministry said.
Both the Chinese and the US stock markets have responded with volatility since the US government announced the punitive measures against Chinese imports.
Brazil's President Jair Bolsonaro, smiles after a Flag Day ceremony at the Alvorada Palace, in Brasilia, Brazil, Nov 19, 2019. [Photo/Agencies]
Businesses in Wenzhou are establishing operations in overseas economic and trade zones to serve the purpose of the nation's Belt and Road Initiative.
来源：资阳报