The move is Shenzhen's latest push to make use of high technology in municipal governance. Earlier, the city had launched programs using facial recognition technology to regulate vehicles.
The moves bear much resemblance to the bullish market between 1996 and 2000, and that between 2005 and 2007, during which time the central regulators started the reform of Stateowned enterprises and shares trading, respectively, according to Jiang.
The nation is also undergoing an innovation and technology revolution with two leading and fast growing technology innovation clusters — the Guangdong-Hong Kong-Macao Bay Area led by Tencent, Huawei and DJI and powered by the Hong Kong and Shenzhen capital markets, and the Shanghai-Hangzhou Bay Area led by Alibaba, Netease and Hikvision and powered by the Shanghai stock, bond, currency and commodity exchanges.
The move came as Huawei sees computing as a technology of the utmost importance to building a fully connected, intelligent world and it eyes an expanded presence in the computing market which research company Gartner Inc forecast will be worth more than trillion by 2023.
The move spurred speculation that Kim Jong-un may also visit the Samsung factory when he travels to Vietnam. Reuters reported that Kim will arrive in Vietnam on Feb 25 ahead of the meeting and visit the Vietnamese manufacturing base of Bac Ninh and the industrial port town of Hai Phong. The Samsung smartphone-producing line is also located at Bac Ninh.
The narrower measure of money supply M1, which covers cash in circulation plus demand deposits, rose 15 percent year-on-year to 54.3 trillion yuan at the end of January. The growth rate was 3.2 percentage points higher than a month earlier.
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The more places they visit, the more comprehensive their understanding will be, he said.
The move was taken after the US administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth with a suggested tariff rate of 25 percent.
The momentum is expected to carry on. According to the Chinese Luxury Traveler 2017 Report - jointly released by Hurun Research Institute and International Luxury Travel Market Asia in June - about 32 percent of the affluent travelers born in the 1980s with an average personal wealth of 22 million yuan are keen on making a trip to the South Pole in the next three years, which is 15 percent higher than the number a year ago.
The move is a "major historic and strategic choice made by the CPC Central Committee with Comrade Xi Jinping as the core," said the circular, which described the decision as "a strategy crucial for a millennium to come."