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China should improve its monetary policy management, squeeze out insolvent enterprises, and strengthen financial regulatory framework to prevent the eruption of systemic financial risks, said Huang Yiping, an economics professor of Peking University and a central bank advisor, in an article of the International Economic Review journal, published by the Chinese Academy of Social Sciences.
China now has the second-largest billionaire group behind the United States, despite COVID-19 putting a dent in global wealth accumulation, according to a separate report this month by UBS and consultancy PwC.
China will continue to 'share data, know-how to tackle climate change'
China will acquire more smart shipbuilding technologies, particularly in areas such as the development of new generation liquefied natural gas carriers, internet-connected and high-efficiency manufacturing in its shipyards between 2019 and 2021, senior officials said on Friday.
China sold .22 billion of US Treasury securities in September, reducing its total holdings to .062 trillion. Meanwhile, China increased its holdings of Japanese debt by more than 70 percent in the first nine months of 2020.
