Skip to main content
ocuments including a guideline on innovation and improving macro-regulation
, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.
The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize economic
growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr
eventing risks, and ensuring social stability, according to a statement issued after the meeting.
The strategic guiding role of national development planning should be leveraged to improve coordination mec
hanisms for economic policies such as finance, currency, employment, industry, and regional development to en
sure the nation’s economic development stays within a reasonable range, the statement said.
uled to become a shareholder of the joint venture by the end of 2019, holding at least 1 percent of i
ts equity. According to Chinese norms, it is mandatory for international brands to produce vehicles in China bearing its names.
Luca de Meo, CEO of SEAT, said: “China is the benchmark country for electric vehicles. We aim to be a part of this ecos
ystem in order to exchange knowledge and make progress in achieving global mobility that is more sustainable.”
Currently, JAC, Volkswagen and SEAT are building a 4 billion yuan ($579 million) research and development center in Hefei, which is expected to open in 2021.
JAC and SEAT also plan to develop their own platform for smaller electric cars, a segment that is growing faster than the large-sized ones in China.
“The close cooperation between SEAT and JAC will allow us to create synergies, which wil
l significantly increase our market coverage,” said Volkswagen CEO Herbert Diess, who is also chairman of SEAT.
urity”, signed an executive order on May 15 that led the US Department of Commerce to put Huawei and its affilia
tes on an Entity List, which would restrict the sale or transfer of US technologies to the company.
Craig Allen, president of the council, said many of its members are suppliers to Huaw
ei, and all of them have been impacted by the Department of Commerce’s move.
Founded in 1973, the council represents around 200 US companie
s doing business with China, including Apple and Microsoft. It also includes chipmakers Inte
l and Qualcomm, which have said they would stop offering supplies to Huawei until further notice.
The members will follow US law, but there is a cost associated with that, Allen told China Daily.
pening-up in China’s services sector, together with high-tech development supported by artificial intelligence, will help lift Chinese
economic growth from 6.3 percent to around 7 percent by 2035, said Zhu Min, a former deputy managing director at the IMF.
“Market-oriented reform and opening-up will improve productivity in the service sector, whi
ch is an important thing that China is focusing on to stabilize economic growth,” Zhu said.
Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest
ors are welcome to conduct all forms of financial business in China, excepting those being named on a nega
tive list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.