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China is moving toward an economy boosted by consumer spending, innovation and services, reducing reliance on investment and exports of low value-added goods, boosted by strengthened efforts in innovation and research.
China is home to more than 220 million people over the age of 60, or 16.1 percent of the population, and the numbers are growing.
China has rolled out a wide range of policies and measures to help exporters resume production since the epidemic broke out. The government introduced incentives to give firms financial support, help employees return to the workplace and reduce operational costs.
China is leading the way to major breakthroughs in the global e-mobility market, and Volkswagen hopes to transform the future of transportation together with its Chinese partners, said Jochem Heizmann, CEO of Volkswagen Group China.
China is ramping up the integrated development of next-generation information technology and manufacturing for better productivity and high-quality development amid renewed efforts to sustain innovation-driven development in the long run, experts said on Tuesday.
