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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.
In 2019, China's massive property market is anticipated to speed down further, with smaller price leaps as well as diving home sales contributing to pressure on the world's number two economy, according to a Reuters survey…
In the third quarter, the Japanese economy shrank the most for more than four years due to the fact that Japanese companies reduced spending, thus threatening to affect the investment outlook next year because the export-reliant Asian country grapples…
Theresa May will present the Brexit deal to the Parliament on Tuesday. This event will probably shake the British pound. What are the other market movers for this week? Read and find out!
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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