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China's Ministry of Finance and Ministry of Emergency Management (MEM) on Thursday allocated 418 million yuan (.7 million) for drought relief in seven provincial-level regions.
China's banking regulator has recently approved the establishment of CCB Financial Asset Investment Co Ltd, the first market-oriented debt-to-equity swap company, with a registered capital of 12 billion yuan.
China's GDP grew by 4.9 percent year-on-year in the third quarter, faster than the 3.2-percent growth between April and June, suggesting "a rapid return to the pre-COVID trend", according to US economist Stephen Roach, also former chairman of Morgan Stanley Asia, a New York-based investment bank.
China's auto market had low performance last year, with sales down 8.23 percent year-on-year, according to the China Association of Automobile Manufacturers.
China's GDP growth in Q1 stood at 6.9 percent, up slightly from 6.8 percent in the previous quarter, with 77.2 percent of that driven by consumption, 12.6 percentage points higher than the 2016 level. The service sector rose 7.7 percent year-on-year, outpacing a 3-percent increase in agriculture and 6.4 percent in secondary industries.
来源：资阳报