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During the 14th FYP period, China will fully enter the era of the digital economy. As the backbone of China's economic and social development, SOEs are positioned to be the driving force of innovation and growth. Digital transformation will be the catalyst for the SOE reform that is needed. But to achieve the enterprise-level digital transformation that is required, SOEs need to balance three sets of factors.

During that time, banks disposed of nonperforming assets of more than 4 trillion yuan, and the nonperforming loan ratio of the banking industry has stabilized at around 2 percent.

During the celebration, the New York City Police Department (NYPD) plans to use a drone on Monday night to watch over Times Square while about 7,000 police officers are on duty for the event.

During his visit, which started on Feb 27 at the invitation of the US government, Liu met US Treasury Secretary Steven Mnuchin, White House National Economic Council Director Gary Cohn and US Trade Representative Bob Lighthizer to discuss bilateral economic and trade cooperation and other key issues of mutual concerns, according to a press release from China’s Foreign Ministry.

During the period, first-tier cities recorded slower growth in retail sales. Beijing saw retail sales of consumer goods rise 3.8 percent year-on-year to 275.34 billion yuan, while in Shanghai retail sales totaled 327.6 billion yuan, up 6.3 percent year-on-year. Shenzhen and Guangzhou saw a growth rate of 7.5 percent and 7.7 percent, respectively.