Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
China will invest $3.8 trillion in its digital economy
On Wednesday, China's state planner uncovered further advancement in the country's ambitious $3.8 trillion digital economy project, telling that such sectors as big data as well as artificial intelligence are going to become major drivers of job creation.
As a matter of fact, the Chinese economy turns out to be in the midst of a long-term restructuring, which has faced the dive of low-end industries as well as the emergence of higher-value factories, which manufacture drones and robotics.
The Chinese government is on the verge of promoting the digital transformation of conventional sectors, driving more employees to switch jobs and also improve the overall quality of employment in this Asian country.
For the last time, the Chinese authorities, including the state planner have been affirming their strong commitment to the country’s long-term development, which the Chinese government sees as a means to rely less on trade as well as other external drivers.
An intensifying trade conflict with America, which appears to be China's key trading partner, has definitely obscured the Asian country’s medium-term surge outlook as well as spells uncertainty for millions of China’s jobs.
Besides this, Chinese state media has accused the US government of utilizing trade for the purpose of suppressing China's development.
China is all geared up towards making further inroads into such promising areas as the internet of things, cloud computing, AI, and big data and creating more high-end jobs.
In addition to this, China is going to actively attract foreign talent with the aim of promoting the innovation of its digital economy.
The Chinese digital economy managed to ascend by 18% hitting in 2017, which is equal to a third of the country's GDP, as the China Academy of Information and Communications Technology revealed.
Hundreds of millions of Chinese utilize mobile applications for entertainment, social networking, shopping, and gaming.
It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.
The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.