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China's 40 years of reform and opening-up are an example of maximizing absolute and comparative advantages by enlarging the market and enhancing the division of labor. China achieved speedy development by boosting the flow of production factors, lowering transaction costs, creating a unified domestic market and opening up to engage in international division of labor and exchanges. In the past four decades, China's trade in goods has soared from .6 billion to trillion, and now ranks first in the world.
China's auto sector suffered a 79.1 percent year-on-year drop in sales in February and expects a fall of around 8 percent this year due to the pandemic, according to the China Passenger Car Association.
China's Foreign Minister Wang Yi (6th from L) poses with Ministers of Foreign Affairs from other ASEAN countries during a bilateral meeting at the 51st Association of Southeast Asian Nations (ASEAN) Ministerial Meeting in Singapore on Aug 2, 2018. [Photo/VCG]
China will publish its second-quarter GDP and June activity data on Monday at 0200 GMT.
China will strengthen intelligence sharing and cooperation with some Southeast Asian and European countries to fight cross-border telecom fraud, the Ministry of Public Security said on Sunday.