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China must reform its existing tax system, which gives local authorities a greater share of the tax income, as the aggressive tax cut program and economy-boosting spending has increased fiscal deficits, said analysts.
China sold 96,800 NEVs in April, up 18.15 percent year on year, while the output reached 101,600, an increase of 25.03 percent from a year earlier.
China is working hard to ease the financing strain on cash-starved firms, as part of its major drive to ensure the orderly resumption of work and production amid the mounting downside pressure, the country's top economic regulator said on Tuesday.
China leads the world in 5G development. Figures from the ministry last month showed China had built 410,000 5G base stations by the end of June, with 257,000 being set up in the first half of the year.
China produces around 80 percent of the world's rare earths. However, the country's rare-earths industry is faced with problems such as smuggling and illegal mining and environmental protection issues.
来源：资阳报