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China's new round of reform and opening-up, and consumption upgrade will create new opportunities in niche sectors including high-tech waste recycling, quality control, food safety, medical processes and fintech, areas where French companies have proven technological expertise, a senior French business leader said on Friday.
China's financial sector has also made a landmark move as Bank of Beijing agreed to set up a joint venture with ING Bank NV, a wholly owned subsidiary of Dutch multinational banking and financial services provider ING Group in late March, with the latter as the controlling shareholder.
China's industrial output, an important economic indicator, expanded 5 percent year-on-year in May, down from the 5.4 percent in April, official data released on Friday showed.
China's labor is becoming expensive too, and more skilled. So, China needs to move away from setting up industries that basically service imports from East Asia. Instead, China should set up industries that are indigenous and can use innovation to produce new products. The country is already doing this quite well. China has beaten the US in 5G, and leads in artificial intelligence.
China's city banks were formerly urban credit cooperatives, and unlike big commercial banks, they mainly serve small businesses and the regional economy.
来源：资阳报