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China will phase out the equity cap on automotive joint ventures by 2022, with the cap on manufacturers of new energy vehicles and special-use vehicles to be removed later this year, according to the National Development and Reform Commission.The commission reported the cap will be removed for commercial car producers in 2020 and passenger car producers in 2022. International carmakers will be allowed to have more than two joint ventures as well.
China will intensify its support for the private sector, including small and medium-sized enterprises, to boost the vitality of market entities and enhance business confidence, it was decided at an executive meeting of the State Council, China's Cabinet, on Monday.
China's A-share market uses T+1 transaction mechanism and stock markets in Europe and the US use T+0 transaction mechanism, so how to solve the problem caused by transaction mechanism difference is of top priority when conducting cross-boundary transaction, said Fang Fang, vice-director of Shanghai Stock Exchange's transaction department.
China's SSE Composite Index, a benchmark for Chinese stock market activities, has increased from its index value of 3,135.92 at the beginning of the year to 3272.93 on Thursday, representing a 4.4 percent growth.
China's annual imports from the Yamal natural gas project in the resource-rich Arctic region will further secure China's energy security with increasing supplies of the natural gas, which is currently experiencing a severe shortage especially in northern China, said an executive from China National Petroleum Corp.
来源：资阳报