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China and the United States are taking extremely different approaches to limiting the economic damage caused by the COVID-19 pandemic and the business shutdowns needed to control the spread of the novel coronavirus. China is focusing on restraining debt while targeting assistance to companies and sectors most affected. The US is borrowing massively to implement the largest monetary and fiscal stimulus package in history.
China aims to upgrade its industries to get a piece of the commercial action in such finished products. Whereas the country has been mainly a miner and shipper of rare earths in the past, it now seeks to become a top refiner and manufacturer.
China CITIC Bank was established in 1987 and completed the duo-listing of A+H shares on the Shanghai Stock Exchange and the Hong Kong Stock Exchange in April 2007. It has now grown into a comprehensive financial group with a total asset volume of more than 6.2 trillion yuan (￡712 billion), and with more than 600,000 corporate clients and more than 88 million retail customers.The bank's wide-ranging business operations include corporate finance, retail finance, and market finance.
China and ASEAN countries opened negotiations on the COC in 2013 to ensure that the pact boosts peace, stability and prevents conflicts in the South China Sea.
China Daily becomes focus of smart city summit. [Photo by Shen Jing/Luo Zongli]
来源：资阳报