http://www.bjreview.com AUGUST 1, 2019 BEIJING REVIEW 7
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China’s sci-tech innovation board starts trading on the Shanghai Stock
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board. Proposed in November 2018, the new board will provide direct
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THIS WEEK
Having completed customs
clearance in Tianjin, the vehicles, with
a total value of over $700,000, will
go from the Dongjiang Free Trade
Port Zone in Tianjin to Apapa Quays,
the largest port in Nigeria.
The second-hand automobile
export business is accelerating the
circulation of used automobiles,
stimulating the domestic auto mar-
ket vitality and deepening trade and
economic exchanges with countries
participating in the Belt and Road,
according to the Tianjin Commission
of Commerce.
The Dongjiang Port will be
built into the largest used vehicle
export base in north China, ac-
cording to Shen Lei, Director of the
Management Committee of the
Dongjiang Free Trade Port Zone.
China began piloting the
second-hand automobile export
business in May, with Beijing, Tianjin,
Shanghai and Guangdong Province
freight volume rose 100 million tons
year on year.
Besides, 135,000 km of rural
roads were rebuilt or renovated,
equivalent to 67.7 percent of the
annual target.3HQVLRQó6\VWHP
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corporate burdens to boost econom-
ic growth and making the pension
scheme more sustainable amid an
aging population, the government
has vowed to roll out a nationwide
pilot program. Announced in 2017, it
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to social security funds.
This comes as a 2-trillion-
yuan ($291.55 billion) reduction of
tax burdens and social insurance
contributions of enterprises helped
lower corporate burdens but raised
concerns over the sustainability of
the pension system. To ease thepressure of pension payments, the
government is trying to expand the
resources of its pension funds.
The plan will see social security
funds directly hold more shares in
state-owned enterprises, allowing
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generated by government-owned
assets.
Large and medium-sized
state-owned and state-controlled
enterprises at both central and
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institutions, will see 10 percent of
their state-owned equity transferred
to the National Council for Social
Security Fund and relevant local
receiving entities which shall, as
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yields from the transferred equity.
The state asset transfers will help
develop a more fair and sustainable
pension system, and make it easier
for the government to implement
the tax and fee reduction plan.KPVJGUQWVJCOQPIVJG³TUVDCVEJQH
pilot regions.7UDQVSRUWó%RRVW
The transport sector saw rising
investment and shrinking costs in the
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Transport spokesperson said on July
24.
A total of 1.37 trillion yuan
($199.68 billion) was invested in rail-
ways, highways, shipping and civil
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year, up 4.8 percent from the same
period last year.
Logistics costs and other related
expenses shrank by about 63.
billion yuan ($9.2 billion).
The January-June period also
saw 8.75 billion passenger trips
completed, down 1.8 percent over
the same period last year. In terms
of freight transportation, 24.58 bil-
lion tons of commercial freight was
handled, up 5.9 percent. RailwayXIN
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