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China's trade policies are market-oriented, with private companies and joint ventures playing a key role. Growth of foreign trade is a natural result of free market competition, once the backbone of the mighty US economy.
China's southwestern municipality of Chongqing, home to more than 3 million registered cars, had the worst traffic congestion among 50 major cities in the second quarter this year, a recent traffic analysis report says.
China's rapid urbanization and economic development have generated a substantial increase in the production and utilization of motor vehicles in the country, said Christine Engstrom, director of the ADB's private sector financial institutions division.
China's second major fiscal reform arrived in 2014, through an amendment to the Budget Law of 1994. One of the key outcomes was overhauling budget reporting, including a requirement for central and local authorities to publish four budget accounts. That amendment represented a big step forward in transparency, experts said.
China's top court pledged on Tuesday that it will continue to pressure people who fail to comply with judgments against them and will offer suggestions for laws further squeezing defaulters.
来源：资阳报