To further boost bilateral trade volume, the two countries started discussing the feasibility of a free trade agreement in Beijing in late February. The Canada China Business Council estimated that the free trade agreement could result in an additional billion worth of exports from Canada to China a year by 2030, and in the process create 25,000 job opportunities in China.
To continuously improve the pilot zone, it will be adjusted and upgraded every three to six months to pinpoint the synergy among roads, vehicles and the cloud, according to Kong, adding that the mature pattern will be replicated in other areas of Beijing.
To accelerate the implementation of policies to further open up China's banking sector, the nation's banking and insurance regulator is soliciting public opinion on a decision to abolish and revise certain regulations on Chinese financial institutions, such as removing the cap on foreign ownership in Chinese banks and asset management companies.
To ease traffic pressure from holiday spenders in Hainan province, airline companies have started to operate more widebody aircraft from the island to help stranded tourists return home sooner, according to the Civil Aviation Administration of China.
To further improve the air quality for the 2022 Winter Olympics, Yanqing also ramped up efforts in replacing coal-fired boilers with clean energy sources. Apart from boilers in its two central heating centers in the east and south area, Yanqing has completed the clean energy campaign, with a total of 1,178.2 tons of coal-fired boilers replaced by clean energy sources. After replacing the boilers in its two central heating centers this year, the district will use no coal in heating in its downtown areas.
Tmall.com is also breaking geographical boundaries and bringing global dishes to the Chinese table. This year, Indian Roti Prata is popular among consumers from northeast China.
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To foster a sound environment for the industry, the administration said it will enhance cooperation with related authorities and strengthen monitoring of the development and construction of such projects.
To date, several insurance pioneer companies have been licensed to do business on the mainland. Manulife Financial Corp in Toronto teamed up with Sinochem Finance 20 years ago to form Manulife-Sinochem Life Insurance; while in 2013 Hong Kong's Convoy was the first to obtain the mainland's National Insurance Agent License.
To date, some 3,000 apparel and logistics companies have moved to Zmall, a newly opened wholesale market based in the city's suburban Xiqing district, in the first step to fulfill the government's ambitious plan.
To cushion downward risks, the policy emphasis in the next year is expected to strengthen earlier policy support, such as in efforts to boost private investment and facilitate development of the manufacturing sector, according to Ning.