he next five to seven years, China’s policy support for new energy vehicles will drive g
lobal growth,” said Kou Nannan, head of research at Bloomberg New Energy Finance.
As early as in 2012, the State Council introduced a pipeline to guide the development of the natio
n’s EVs, with a goal of producing 2 million units and selling 5 million EVs by 2020. Later on, cent
ral and local governments carried out a series of subsidy policies in the NEV industry, such as purchase tax exemption an
d purchase subsidies, to offer greater support to the industrialization of China’s NEV industry.
According to the agency, China will specifically lead in the e-bus market. It is estimated that by
2025, China’s e-bus fleet share will reach 50 percent, and by 2040, the ratio will rise to roughly 80 percent.
integration－trade, investment and finance－began benefiting large emerging and developing econ
omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m
ust also serve poorer and faster-growing economies, which today account for most of the global growth.
So, by flirting with trade protectionism and punitive tariffs on imports, adva
nced economies are seeking to implement the wrong policies at the wrong time. As the adv
anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco
nomies is not a win-lose game, because it benefits the advanced economies, too.
In the aftermath of the 2008 global financial crisis, all major advanced econom
ies would have faced another Great Depression without the support of large emerging economies, particularly Ch
ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.
dialogues based on harmony in diversity and inclusiveness. We need to undertake the cultural responsibility of inter
national communicators, and let exchanges of culture and among civilizations, as well as mutual learning, co
nstantly serve as bridges for people’s friendship, the impetus of international cooperation and bond of world peace.
Second, we should become builders of world peace and development. The wheel of humanities’ de
velopment is unstoppable. Peace, reconciliation and harmony are historical trends. Equality, mut
ual trust and win-win cooperation are historical necessities. Yet, as international conventions are attacked an
d multilateral mechanisms are challenged, the anti-globalization tendency rises, and unilateralism and tra
de protectionism are becoming increasingly fierce. We must adamantly safeguard the contemporary interna
The People’s Bank of China (PBOC), the central bank, has upgra
ese currency, and on Monday announced the issuing of the new batch from Aug 30.
The new issuance will include notes with a face value of 50 y
uan ($7), 20 yuan, 10 yuan and one yuan, and coins valued one yuan, 50 fen and 10 fen.
Compared with the current series in circulation, the new batch will see brighte
r colors and adjusted patterns with enhanced anti-conterfeiting feature, a PBOC official said.
The five-yuan note will not be in the upcoming issuance as new technologies on the note are still under testing. The 100-y
uan note was issued in November 2015, which has shown improved anti-conterfeiting capability, said the PBOC source.