percent from the first half of 2018, and three of them each obtained more than $100 million in investment. Cloud computi
ng, artificial intelligence, robotics, and virtual reality also were hot spots that lured investment during the period,” Ni said.
Ni added although the technology industry is rapidly expanding under favorable polic
es, internet and mobile internet are still the attractive sectors in the TMT industry. Internet finance, ian
ternet-based education, fragmented entertainment and content sharing were hotly pursued by investors.
“The setup of the science and technology innovation board will improv
e the inclusiveness of the domestic capital market towards emerging enterprises, and o
pen a new financing and exit channel. The board offers a new platform for high-tech emerging enterprises, and tech
nology companies are expected to kick off a new wave of IPOs,” Janson Yang, PwC China assurance partner, said.
entered a new era of moderately slowing expansion and a transition to a high-quality grow
h model. That has pushed economists to reconsider some long-term issues, such as whether the economy wo
uld cool down sharply before a considerable rise in wealth, especially after a period of fast growth.
“The key method to ensure China’s role as a high-income cou
ntry is to adjust industrial structures and promote productivity,” said Zhu Min, an inf
luential Chinese economist and former deputy managing director at the International Monetary Fund.
High-tech manufacturing, the service industry and the digital economy will be the new engines
for the economy, while some traditional driving forces, such as injecting funds into the market, are losing momentum, Zhu said.
China’s total GDP exceeded 90 trillion yuan ($13.4 trillion) in 2018, and the per cap
ita GDP was about $9,700. Economists predict that if the country maintains growth of at least 6 percent th
is year, which is likely given the current momentum, its per capita GDP this year would surpass $10,000.
for a “high-income country” — above $12,736 in per capital GDP — set by the World Bank in 2015.
However, a productivity slowdown, aging population and unbalanced regional developme
nt could be among the “bottlenecks” that constrain China in becoming a high-income country, economists said.
Given the pressure of the slowing global economy, a high degree of leveraging maintains the top risk for China’s econ
omy, thus measures should continue to reduce the debt-to-GDP ratio “in proper order”, said Lou Jiwei, chairman of
the National Council for Social Security Fund and a former finance minister.
It is necessary to build a long-term and efficient mechanism for financial regula
tion and fiscal supervision, and to prevent potential risks in the property sector, Lou said.
The three-day China Development Forum has a guest list of more than 150 international delegates, including global industry leaders.
Italian side, respect each other’s major concerns, jointly build the Belt and Road, explore cooperation with third parties, boost
cultural exchanges and local-level cooperation, and strengthen popular support for bilateral relations, Xi said.
The Chinese president stressed that in recent years, China’s National People’s Con
gress and the Italian Senate have established a regular exchange mechanism.
China supports the two countries’ legislative bodies to carry out multi-level, wide-ranging and multi-c
hannel exchanges and cooperation, and share successful experience on major issues such as legislative supervision, state gov
erning, national economy and the people’s livelihood, on the basis of mutual respect and mutual learning, Xi said.
He said he hopes that the Italian Senate will continue to play an active facilitating role, and cr
eate better conditions for and inject greater momentum into the development of bilateral relations.
llati said, noting that the Italian and Chinese peoples have always trusted each other and
maintained profound friendship, with close ties in such fields as economy and trade, and culture.
The Senate speaker said she agrees with Xi on his remarks about the traditional friendly exchanges between the two cou
ntries dating back over 2,000 years, published in leading Italian newspaper Corriere della Sera ahead of his visit.
China and Italy are major countries that boast a rich culture, she said, adding that Italy is willing to boost communication and c
ooperation with the Chinese side in such fields as culture, art, language, heritage protection, tourism, science and tec
hnology, and innovation, and encourage their youths to increase exchanges and mutual understanding.
all of US higher education in order to promote bilateral educational exchanges, he said.
”I am here precisely because, like you, I believe these ties are extremely import
ant for our academic institutions, but even more importantly, for our nations,” he said.
He noted that there are a large number of overseas students from China at Har
vard, and the Chinese language is among the most popular foreign languages at the institution.
He also expressed his admiration for the great emphasis the Ch
inese government has placed on education and its efforts to enhance higher education, addi
ng that Harvard University is ready to move forward with exchanges with Chinese education and research inst
itutions.He calls for tapping partnership potential in such sectors as shipping, telecommunications
China stands ready to work with Italy on the Belt and Road Initiative by strengthening its alignment with the Eur
opean country’s development strategies to bring bilateral ties to a new level, President Xi Jinping said.