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China's consumer spending was robust in the first half year, contributing 78.5 percent to the country's economic growth, up 14.2 percentage points from a year earlier, official data showed Thursday.
China's civil aviation industry is accelerating its advance into the digital era.
China's economy is one of the fastest growing economies in the world, with recorded growth of 6.7 percent in 2016, compared to 1.6 percent of the US, according to the IMF's Economic outlook. A new study by PricewaterhouseCoopers says China is projected to overtake the US as the world's largest economy by 2050, India will rank second, while the US will slip to third. This trend is intensifying the trade competition between China and the US. While the West views Africa as a trouble spot of instability and a source of illegal immigrants, China eyes Africa as an economic partner.
China's forex market is easily influenced by irrational expectations and spurred by inertia, due to a certain level of "pro-cyclicality," which distorts market demand and supply, and magnifies the risk of exchange rate overcorrection, the CFETS said in a statement.
China's housing market reached 22.3 trillion yuan (about .2 trillion) in 2019 and is expected to grow to 30.7 trillion yuan by 2024, according to the prospectus, citing an industry report.
