SCI News 2017-07-25

Chinese firms post improving corporate governance: Survey

Chinese companies are doing better in upholding corporate governance standards and engaging with investors in a transparent and meaningful way, according to an industrial survey.

More Chinese mainland companies climbed to the top of the rankings of the 2017 All-Asia Executive Team Honored Companies, surveyed by international financial publication Institutional Investor, edging out a number of last year's winners from India, Southeast Asia and Australia.

Beijing economy firms up in H1

Beijing's economy firmed up in the first half of 2017, benefiting from the steady development of the service industry and booming scientific and technological innovation, according to information released by the Beijing Municipal Statistics Bureau today.

Beijing's gross domestic product (GDP) expanded 6.8 percent year-on-year in the first half to 1.2 trillion yuan ($177.6 billion). The service sector expanded 7.2 percent year-on-year in the first six months, outpacing a 1.4 percent decrease in primary industries and 5.1 percent increase in secondary industries.

International investment and trade platform launched

The Council for Promoting South-South Cooperation (CPSSC), a Chinese national nonprofit organization, on Tuesday launched a major international investment and trade platform in a move to promote outbound investment and global infrastructure cooperation as China pushes forward the Belt and Road Initiative and "going global" strategy.

China's non-financial ODI plunged by 45.8 percent year-on-year in the first half of 2017. Although the total ODI dropped, outbound investment to countries involved in the Belt and Road Initiative increased by 6 percent year-on-year and accounted for 13.7 percent of the total ODI in the first half, data from the Ministry of Commerce showed.

Reform makes China's economy stronger, greener

Thanks to ongoing supply-side structural reform, China's economy has firmed up in the first half of the year, boosting green development, according to the country's top economic planner.