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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
At a Glance
    2018-12-04  08:53    Shenzhen Daily

Overseas investment

THE Chinese mainland’s overseas portfolio investment continued to rise in the first half of the year, with Hong Kong still the prime destination, Xinhua said yesterday, citing official data.

At the end of June, the mainland’s overseas portfolio investment assets amounted to US$18.3 billion, up from US$497.7 billion at the end of 2017, according to the State Administration of Foreign Exchange. Nearly one third of the total was invested in China’s Hong Kong. The next largest sums were invested in the United States, followed by the Cayman Islands.

Import program

THE country’s plan to expand its pilot parallel-import program in free trade zones will offer customers more choices and further open up its automotive industry, Xinhua reported yesterday.

The State Council announced late last month that all 12 of China’s free trade zones should be allowed to pilot the parallel-import program. The free trade zones are encouraged to offer bonded storage for such imports. The program, unlike traditional car importing, does not require auto dealers to import strictly from carmakers. Having started in Shanghai in 2015 and expanded to some other free trade zones, the program is a key measure of ongoing supply-side reform in the automotive industry, according to Chen Zhenchong, an official from the General Administration of Customs.

Currency swap

CHINA and Argentina signed a US$9 billion currency swap deal to boost the crisis-stricken South American country’s foreign currency reserves, its central bank announced Sunday.

The two countries signed 30 trade and financial agreements in total during the G20 summit in Buenos Aires.

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