Aerospace cluster

BEIJING’S Haidian District plans to build a 100-billion-yuan (US$14.8 billion) aerospace industry cluster in the northern region of the city’s Zhongguancun Science City.

The project was released Saturday at a press conference during the ongoing 2020 Zhongguancun Forum held in Beijing. With a total construction area of nearly 1 million square meters, the project will include three functional zones that focus on satellite internet innovation, Beidou satellite navigation, and space information services, as well as scenario applications. As one of the cradles of China’s aerospace industry, the Zhongguancun Science City gathers more than half of the country’s academics and experts, leading enterprises, and scientific research institutions in the field.

Transport recovery

THE country’s transportation industry continued to recover in August as economic activities normalized amid effective epidemic control, industry data showed.

The China Transportation Services Index (CTSI) stood at 161.5 points last month, down 8.9 percent year on year, according to the China Academy of Transportation Sciences. The subindex for passenger transport came in at 111.5 points last month, down 36.1 percent year on year, while that for cargo transport gained 5.2 percent to 188.2 points.

Forex settlement

COMMERCIAL banks in China saw a net forex settlement deficit of 26.5 billion yuan in August, the country’s forex regulator said Friday.

In U.S. dollar terms, the deficit narrowed by 29 percent year on year, said Wang Chunying, deputy director and spokesperson for the State Administration of Foreign Exchange. In the first eight months, forex purchases by banks reached US$1.29 trillion, while sales came in at US$1.21 trillion.