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As an important participant in global value chains, China's initiative to expand imports and greatly ease market access will effectively reduce the cost of joint construction of new global value chains by companies in various countries, and significantly increase the operational efficiency of the global value chains.
As a front-runner in reform and opening-up, the city used to rely on processing trade mainly for Hong Kong. After enjoying a high economic growth rate of nearly 40 percent per year from the 1980s to the early 1990s, due to limited land resources and rising labor costs, the city gradually turned its focus to developing high value added industries such as information technology, biotechnology, new materials and high-end equipment manufacturing. Now it has become a magnet for technology startups and the headquarters of famous high-tech companies such as Huawei Technologies Co Ltd, Tencent Holdings Ltd and one of the world's largest drone makers, DJI.
As Traditional Chinese Medicine (TCM) shows its potential in the fight against COVID-19, events featuring TCM have become highlights of the ongoing 2020 China International Fair for Trade in Services.
As a result, the sixth-term LegCo session saw fewer meeting hours than the previous two terms, with only 141 meetings held, taking up 1,711 hours.
As former UK defense secretary Gavin Williamson once touted, he wished to project "British hard power" and take on China in the South China Sea.
