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hina’s innovative and high-quality development,” Sui Zhenjiang, vice-mayor of Beijing, said on Wedne
sday during a 5G industrial development and investment summit held in Yizhuang, in southeastern Beijing.
“Beijing is actively transforming itself as a national scientific and tech
nological innovation center. With advantages in complete telecom infrastructure, abunda
nt talent and strong research and development capabilities, we have the resolve to accelerate the push for making brea
kthroughs in 5G technologies and build an independent and innovative 5G industrial system,” Sui said.
As of May 24, the three major telecom operators－China Mobile, Chin
a Telecom and China Unicom－have established 4,700 5G base stations in Beijing, acc
ording to Wang Gang, head of the Beijing Municipal Bureau of Economy and Information Technology.
Central bank vice-governor voices confidence amid currency volatility
The monetary authority vowed to stabilize the renminbi amid escala
ted trade tensions, while continuing to push forward financial opening-up and pr
otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.
“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma
rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi
ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.
Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do
llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h
September, 53 people in the company were transferred for examination and prosecution.u’an, a county in
China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun
Emerging fields including online lending, investment, pension services, consumer reb
ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.
Since the collapse of P2P online lending platforms beginning last Jun
e, public security authorities have investigated and handled more than 400 illegal fun
draising platforms and arrested more than 60 fugitives from 16 countries and regions.
“To grab excessive profits, the criminals keep changing and upgrading their criminal
methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”