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China's big three telecom carriers launched a new 5G-enabled messaging service on Wednesday that could prove to be a game-changer in social networking and pose challenges to Tencent's messaging services, analysts said.
China will cut taxes by another 60 billion yuan (.5 billion) to drive innovation and entrepreneurship and boost the development of small and micro businesses, the State Council decided in an executive meeting presided over by Premier Li Keqiang on Wednesday.
China will implement its proactive fiscal policy with larger tax cuts this year, and more effective measures will be unveiled in the coming months, officials said. The aim is to strengthen economic growth and deepen supply-side structural reform, according to the policy tone-setting annual Central Economic Work Conference held in December.
China's GDP expanded at 6.9 percent in the first half of this year, beating market expectations.
China's Foreign Investment Law, adopted in March, is a positive step forward, Collins said, adding that the company has been encouraged by it. "We are working to understand the law and make sure we are able to follow all of the elements in it."
来源：资阳报