The country became the first major economy to resume growth since the outbreak of the epidemic, Szafarz said, adding "this will play a positive role in the reconstruction of the world economy in the post-epidemic era."
The country will grant more powers to pilot FTZs and explore the opening of free trade ports, according to a key report delivered at the 19th National Congress of the Communist Party of China.
The council said that in July it had talked to 27 companies that operate popular mobile phone applications in the areas of audio and video, book reading, mobile payment and travel, and that it had found issues infringing on consumers' personal information.
The construction has been given a budget of 0 million, he added.
The country is at the cusp of eliminating extreme poverty, which is defined as living off less than per day. That's a huge accomplishment, but extreme poverty is a very low standard. Still, about 60 percent of China's people live off less than per day and almost 90 percent live off less than per day. This compares to South Korea or Japan where less than 20 percent of people live off less than per day.
The country will maintain control over the monetary supply and keep liquidity at a reasonable and ample level, the meeting said.
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The country will support the transition of traditional department stores and large-scale stadiums into commercial complexes and fitness as well as recreation centers, according to the guideline.
The country will use a variety of tools including required reserve ratio reductions, interest rate cuts, and re-lending to enable M2 money supply and aggregate financing to grow at notably higher rates than last year, said the report.
The continuing trade dispute between the US and China was a minor factor in this year's holiday spending because most merchants had ordered goods prior to US President Donald Trump's imposition of the latest round of tariffs. But the expectation of higher prices was key and could limit buying, analysts said.
The consumption sector in particular will post strong performance during the festive period, given that it is one of the peak seasons in the year. [Photo/VCG]