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tment, and it could also leverage on more bank lending and attract private funds to increase investment, said Xu.
In the meantime, allowing retail access to local government bonds will help diversify the
investor base and increase market liquidity, said Amanda Du, an analyst at Moody’s Investors Service.
The analyst expected access for retail investors to widen to encompass all local government bonds in 2020.
hina’s economy grew at a faster-than-expected 6.4 percent year-on-year in the first qua
rter, according to data released by the National Bureau of Statistics on Wednesday.
The growth was unchanged from that registered in the fourth quarter of last year.
The country’s industrial output posted steady growth in the same period, up by 6.5 percent
year-on-year, compared with 5.7 percent in the previous quarter, official data showed.
Fixed-asset investment growth was 6.3 percent in the first quarte
r, compared with 6.1 percent in the first two months, according to the NBS.
Retail sales increased by 8.3 percent year-on-year in the same pe
riod, compared with 8.2 percent in the first two months, the data showed.
conomy and Informatization, the trade-in program targets the 603,000
vehicles complying with State-III emissions standards or below in this city.
Shanghai also encourages owners of public service vehicles — such as buses, sanitation vehi
cles, postal cars, taxis and light logistics vehicles — to replace their current vehicles with electric ones.
The city will improve auto financing, leasing and used car trading, as well as the construction of charging poles and hydrogen
refueling stations, to promote the use of new energy vehicles, the commission added.
The Shanghai Automotive Industry Corporation G
roup (SAIC), China’s largest automobile manufacturer, has set up a 3 billion yuan fu
nd to support the trade-in program, with trade-in models limited to its Roewe, MG and Maxus brands.
A gasoline vehicle trade-in would enjoy a subsidy of 10,000 yuan per vehicle, while a new en
ergy vehicle trade-in would receive a subsidy of 15,000 yuan, the manufacturer said.
In fact, the group had lowered prices of its Roewe- and MG-branded
vehicles last month, in response to China’s VAT reduction policy that started April 1.
nd we know how to do it,” Boeing CEO Dennis Muilenburg said in a video, according to the report.
Also on Thursday, an Ethiopian official confirmed news reports that the flight crew of the d
oomed flight had followed Boeing’s recommended procedures, at least in part, by disabling the automated anti-s
tall system of the 737 Max 8 but were unable to regain control of the plane before it crashed.
At a news conference in Addis Ababa, the nation’s transportation minis
ter confirmed earlier indications that the plane’s anti-stall system was repeatedly triggere
d in the minutes between the takeoff and crash, but he did not draw definitive conclusions about the crash’s cause.
“The pilots turned the MCAS on and off, but I can’t say how many times, because we will find t
hat out when we have the final report,” Dagmawit Moges, Ethiopia’s transportation minister, told The N
ew York Times. Moges was referring to the anti-stall Maneuvering Characteristics Augmentation System.