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China's currency, the yuan, is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is largely run by the state in an effort to control capital flows in and out of the country.
China's national legislature on Friday passed the foreign investment law, which will become effective on Jan 1, 2020. The law aims to improve the transparency of foreign investment policies and ensure domestic and foreign enterprises are subject to a unified set of rules and compete on a level playing field, according to an explanatory document.
China's commitment to upgrade the financial sector with advanced technologies brings tangible benefits to enterprises
China's cinemas may be fearing bankruptcy due to protracted COVID-19-related lockdown restrictions, but businesses offering online entertainment are upbeat about the future.
China's first passenger jetliner offering high-speed internet service on board, a Qingdao Airlines' aircraft, is put into commercial operation, on July 7, 2020. [Photo/Official website of the Civil Aviation Administration of China (CAAC)]
