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Real-time News
On April 21, the State Council issued an opinion on promoting the expansion and quality improvement of the service industry. The opinion mentions steadily advancing the opening up and cooperation of the service industry. It further expands pilot programs for opening up in areas such as value-added telecommunications, biotechnology, and wholly foreign-owned hospitals. It improves the negative list management system for cross-border service trade. It enhances service capabilities such as data export compliance assessment and security certification. It strengthens service trade cooperation with key countries and regions, and coordinates the construction of major opening-up and cooperation platforms such as service trade innovation and development demonstration zones. It promotes the export of cultural and tourism services and encourages the expansion of inbound consumption.On April 21, the State Council issued an opinion on promoting the expansion and quality improvement of the service industry. The opinion points out that in the banking, securities, and insurance sectors, financial institutions should be guided to conduct financing based on movable property and rights pledges such as inventory, orders, and warehouse receipts, under the premise of legal compliance and controllable risk. A full life-cycle financing system should be established that invests in early-stage, small-scale, long-term, and hard-tech sectors. The role of the National Venture Capital Guidance Fund should be leveraged, and the "innovation points system" and the evaluation of specialized and innovative development of SMEs should be optimized and promoted. New financial service tools such as supply chain bills should be promoted. The coverage of product R&D liability insurance should be expanded, pilot-scale service insurance should be promoted, and the first-of-its-kind insurance compensation policy should be effectively implemented. A digital RMB empowerment initiative should be launched. Mutual recognition of cross-border supply chain finance standards should be explored.On April 21, the State Council issued the "Opinions on Promoting the Expansion and Quality Improvement of the Service Industry." The document mentions the in-depth implementation of the Industrial Internet Innovation and Development Project. It calls for advancing the Industrial Data Infrastructure Building Action, cultivating data cooperation consortia, and constructing a number of high-quality industry datasets. It also emphasizes developing professional services such as data labeling and certification, and exploring the establishment of a classified and graded data ownership, evaluation, and pricing mechanism. Furthermore, it calls for the orderly advancement of computing power deployment and edge computing power construction, and the improvement of the intelligent computing cloud service system. Finally, it stresses accelerating the application of urban information modeling platforms and building information modeling technologies.The Eurozones ZEW Economic Situation Index for April was -43, compared to -29.9 previously.April 21 – According to four industry sources familiar with the discussions, U.S. Trade Representative Greer has informed Mexicos auto and steel industries that they should not expect the renegotiation of the U.S.-Mexico-Canada Agreement (USMCA) to remove the tariffs imposed on their industries by President Trump. Greer made these remarks on Monday at a meeting in Mexico City with industry organizations and other senior business leaders. The meeting aimed to discuss revisions to the USMCA with the Mexican president and economy minister, whose six-year review period expires on July 1. One source who attended the meeting said, "Greer said the tariffs will remain. President Trump likes tariffs. We will never go back to zero tariffs." The source added that Greer also told the auto industry that U.S. officials are exploring ways to help Mexico, but did not provide specific details.
