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Visitors view the lanterns during a trial display of a lantern fair in Yuyuan Garden in Shanghai on January 13.
The fair in Yuyuan Garden, one of China’s national intangible cultural heritages, is a key cultural event in Shanghai during the Spring Festival.
Beijing to Cap Population
Beijing is on course to cap its population at 22 million in 2017, as the capital saw its population growth rate slow in 2016, said the municipality’s acting mayor Cai Qi.
Beijing plans to remove nonessential functions from the city and improve urban management, said Cai while delivering the city’s annual government work report at the opening of the 2017 session of the Beijing Municipal People’s Congress on January 14.
The municipal budget will allocate a guidance fund of 10 billion yuan ($1.45 billion) for the campaign.
Non-essential functions include manufacturing, logistics and wholesale markets.
The campaign includes the demolishing of illegal buildings, relocating or improving 158 markets and logistics centers, and closing more than 500 general manufacturing and polluting companies, according to Lu Yan, head of the Beijing Development and Reform Commission.
E-Commerce Boosts Tourism
China’s tourists spent more money through online travel agencies(OTA) thanks to rapid growth of ecommerce and the mobile Internet, according to an industry report.
Such tourists spent over 600 billion yuan ($87 billion) on OTA platforms, up 34 percent year on year and far exceeding tourism spending at brick-and-mortar travel agencies, according to a report by China’s largest OTA, Ctrip, which cited data from a research company.
The report said that Ctrip had about 250 million users who spent over 20 billion yuan ($2.9 billion) on its OTA platform in 2016, with customers paying over 3,000 yuan($435) on average.
Meanwhile, a majority of the orders were placed via mobile devices rather than desktop computers.
About two thirds of tourism spending through Ctrip went on overseas trips, the report pointed out. Thailand topped the list of destinations with the highest spending by China’s outbound tourists, followed by Japan, South Korea and the United States.
Official data show that tourists from China made 4.44 billion domestic trips, up 11 percent year on year, and 122 million outbound trips in 2016.
New Gibbon Species Discovered
A new species of gibbon has been discovered in southwest China’s Yunnan Province. The new species, with white eyebrows, lives mainly around Gaoligong Mountain in Yunnan and is morphologically and genetically distinct from other species, according to a research paper published by the American Journal of Primatology.
Scientists began research on the white-browed gibbons in Yunnan in 2007. A joint study by 15 scientists from five countries confirmed the discovery of the new species.
The Gaoligong Mountain whitebrowed gibbons, whose population numbers no more than 200, inhabit altitudes of 500 to 2,000 meters, said Jiang Xuelong, a researcher with the Kunming Institute of Zoology under the Chinese Academy of Sciences.
Scientists have suggested the new species should be categorized as endangered and have called for improved conservation.
Gibbons are small apes inhabiting southern, eastern and southeastern Asia. The new species increases the number of recognized gibbon species currently existing to 20.
Disaster Prevention
China will improve efficiency in disaster prevention and relief by 2020 to reduce the impacts of such events on ordinary people.
The government will keep direct economic losses to an average of 1.3 percent or less of total GDP annually during the 2016-20 period, while the death toll from disasters will be kept under 1.3 per million people, according to the disaster relief five-year plan released by the State Council on January 13.
During the 2010-15 period, about 1,500 people died or went missing each year due to disasters.
China will build a wellconnected disaster relief supply reserve system linking the Central Government with authorities at lower levels to ensure that victims have timely access to support within 12 hours of a disaster.
China will also improve related laws and regulations and improve the nation’s ability to predict, prevent and counter disasters.
Crime Crackdown
Forty-four people in southwest China’s Guangxi Zhuang Autonomous Region were sentenced to prison terms of up to 25 years for their involvement in a mafia-style gang, a local court said on January 15.
According to the Dahua Yao Autonomous County court in Hechi, two people surnamed Ma and Li organized the gang, many of whose members were released prisoners or unemployed. From 2010 to 2014, the gang carried out a series of criminal activities and destroyed social order by illegally controlling food markets, entertainment venues and other sites in Hechi. They made over 500,000 yuan ($72,479) in profits from extortion, forced transactions and underground gambling operations. The gang was also found to have illegally possessed firearms.
Ma and Li were respectively given prison terms of 25 and 22 years and fined 110,000 yuan($15,954) and 85,000 yuan ($12,328). Personal assets of 500,000 yuan were confiscated from each of them. The other 42 people involved were sentenced to prison terms ranging from 10 months to 20 years. The trial lasted 19 days.
Mobile Internet Services
China’s Central Government has issued a guideline on mobile Internet services management, calling for more efforts to develop the sector in a healthy and orderly manner.
The guideline calls for increasing the use of mobile Internet services in sectors including transport, tourism, education, health and public security, to better serve the public.
It says that mobile Internet services could play a big role in poverty relief, as they provide an efficient means to connect underdeveloped regions with more prosperous areas.
The guideline, issued by the General Offices of the Central Committee of the Communist Party of China and the State Council, also stipulates the need to cultivate an orderly environment for the development of mobile Internet services.
“With the rapid evolution of Internet technology, threats and risks posed by mobile Internet services are prominent and must be addressed,” the guideline states.
China will resolutely crack down on criminal activities such as instigating the subversion of state power and inciting religious extremism through mobile Internet services, it says, adding that promoting ethnic separatist ideology and instigating violence and terror will also be targeted.
The document highlights the need to regulate competition and optimize the environment for the development of mobile Internet services in order to unleash energy for innovation and market potential.
It urges preventing and eliminating risks caused by the development of mobile Internet services to ensure the security of network data, technology and apps.
Coastal Style
Models display colorful costumes belonging to the Li ethnic minority, whose members live in south China’s Hainan Province, on January 15.
The show was part of the closing ceremony for the 2017 Hainan International Tourism Trade Expo, which took place on January 12-15, attracting over 500 companies from home and abroad. Purple Clay Art
Visitors appreciate purple clay wares during an exhibition at the newly-opened Yixing Museum in Yixing, east China’s Jiangsu Province, on January 12.
The three-month exhibition displays some Yixing purple clay wares, which were collected by Beijing’s Palace Museum. The new museum, with an area of 25,000 square meters, opened on January 10.
Overcapacity Slash
Shanxi Province, the center of China’s coal industry, will cut 20 million tons of coal capacity in 2017, said the provincial government on January 14.
Slashing excess coal production capacity would remain top of the local government’s agenda in 2017, said Lou Yangsheng, Governor of Shanxi, when delivering the provincial government work report at the annual session of the Shanxi Provincial People’s Congress.
“Coal overcapacity reduction should be achieved through market and law-based means,” said Lou, adding that mergers and reorganizations will be encouraged.
Shanxi reduced its coal production capacity by 23.25 million tons and shut down 25 coal mines in 2016. The province cut coal production by 143 million tons, or 40 percent of the country’s total reduction in 2016.
The move is part of a national campaign to cut overcapacity, which has achieved tangible results. China met its 2016 target of phasing out 45 million tons of steel and 250 million tons of coal production capacity.
Shanxi has also set an economic growth target of 5.5 percent for 2017, which aims to “leave maneuvering room for transformation and reform,” said Lou.
Obstacles remain on the province’s path of economic recovery, such as high debt and a lack of new growth engines and talent resources, warned Lou.
Rising FDI
Foreign direct investment (FDI) on the Chinese mainland maintained steady growth in 2016 on the back of strong investment in the service industry.
FDI rose 4.1 percent year on year to reach 813 billion yuan ($118 billion) in 2016, the Ministry of Commerce (MOFCOM) said in an online statement.
Growth slowed from the 6.4-percent gain in 2015. In December 2016 alone, the FDI inflow rose 5.7 percent.
Foreign investment in the service industry rose 8.3 percent year on year to 572 billion yuan ($82.99 billion), accounting for 70.3 percent of all FDI.
FDI in hi-tech services was particularly strong, up 86.1 percent from a year earlier to reach 95.6 billion yuan ($13.87 billion). MOFCOM attributed the steady momentum to government action, such as easing restrictions in free trade zones (FTZs) and simplifying procedures for investment entry.
In 2016, FDI in FTZs in Shanghai, Guangdong Province, Tianjin and Fujian Province jumped 81.3 percent to 88 billion yuan ($12.77 billion).
FDI from the United States and the EU rose 52.6 percent and 41.3 percent, respectively. FDI from Japan edged up 1.7 percent in 2016, reversing two years of falls.
The number of newlyestablished foreign-funded companies investing over $100 million exceeded 840, with businesses covering many emerging and hi-tech industries.
To attract more foreign investment, Chinese authorities are considering revising market entry guidelines by cutting the number of restrictive measures from 93 to 62.
Pre-Festival Shopping
Customers pick snacks at a shopping fair in Wuhan, capital of central China’s Hubei Province, on January 14. Tens of thousands of New Year goods are provided at the fair by more than 700 companies.
Reducing Risks
The central bank has ordered thirdparty payment platforms to put part of their customer provisions in specific official accounts to reduce financial risks.
From April 17, non-bank payment institutions such as Alibaba’s Alipay should put some of their customers’ stock fund into specific accounts in designated financial institutions with no interest paid, according to a statement released by the People’s Bank of China.
Customer provisions are money that clients pay in advance to payment platforms for certain services and are often used by these platforms for their own profit.
Payment institutions should put 12 to 24 percent of total customer provisions into designated accounts in line with their services. This will not cause liquidity problems, according to the statement.
The new order aims to defuse financial risks as customer provisions may be earmarked by payment companies for high-risk and illegal practices, the statement said.
A total of 267 payment institutions had customer provisions totaling over 460 billion yuan ($66.7 billion) at the end of September 2016, randomly deposited across many accounts generating liquidity squeeze risks.
IPR Center
An intellectual property rights (IPR) transaction center was established in Shanghai on January 13.
The center will support IPR evaluation, transfer quotations, transaction authentication, settlement, trusteeship registration and financing. Shanghai has seen a growing number of IPR applications in recent years. During the first 11 months of 2016, the city received 105,000 patent applications, a rise of 22.6 percent from the year before.
Lu Guoqiang, Director General of the Shanghai Intellectual Property Administration, said the center is a facet of Shanghai’s economic restructuring.
The center will improve the exchange system and assist the monetization of intellectual property rights, offering discounted services to small and mid-sized enterprises.
Flourishing Business
Staff members of an online store process orders in Qingyanliu Village of Yiwu City, east China’s Zhejiang Province, on January 3.
According to the Department of Commerce of Zhejiang, consumers spent more than 1 trillion yuan ($149.4 billion) at online stores from the province in 2016, up 35.43 percent year on year.
Foreign Trade Up
China’s foreign trade stabilized and returned to growth in the fourth quarter of 2016, but concerns are looming on rising protectionism that is likely to bring uncertainties to the new year’s outlook.
Total foreign trade value was up 3.8 percent in the last three months of 2016, data from the General Administration of Customs (GAC) showed on January 13.
For the whole year, total exports and imports decreased 0.9 percent year on year to 24.33 trillion yuan($3.53 trillion), narrowing significantly from a 7-percent decline in 2015. In the fourth quarter of 2016, China’s exports were up 0.3 percent from a year ago, while imports climbed 8.7 percent, compared with a 0.3-percent decrease in exports and a 2.3-percent rise in imports in the third quarter, according to GAC spokesperson Huang Songping.
China’s foreign trade surplus narrowed to 3.35 trillion yuan ($485.9 billion) in 2016, down 9.1 percent from a year earlier, according to GAC data. In December alone, exports were up 0.6 percent year on year, while imports jumped 10.8 percent.
Tourism Growth
China will transform its highly resource-dependent tourism into a“highly intensive” industry, according to an official on January 13.
Li Jinzao, Chairman of the China National Tourism Administration(CNTA), said that authorities have a three-step strategy to complete the transformation.
The first step is to change the tourism industry into a “relatively intensive” one from 2015 to 2020; the second step is to develop an intensive tourism industry from 2021 to 2030; and the third step is to achieve the goal of building a “highly intensive” tourism industry from 2031 to 2040, according to Li.
He added that innovation would be carried out to provide people with diverse products and high-quality tourism, including countryside trips, and public service facilities for tourists such as toilets would be improved in 2017.
China’s tourism revenue totaled about 4.69 trillion yuan ($680.7 billion) in 2016, up 13.6 percent year on year, according to CNTA data. China’s tourists made 4.44 billion trips in 2016, an increase of 11 percent from 2015, the data showed.
The nation will work to develop tourism into a major driver of economic transformation and upgrading. By 2020, investment in tourism is expected to grow to 2 trillion yuan ($290.1 billion), and the sector will contribute more than 12 percent of GDP, according to the Five-Year Development Plan for Tourism (2016-20) issued by the State Council.
Job-Hunting Season
Students wait for interviews during a recruitment fair in Shanghai on January 14.
The fair in Yuyuan Garden, one of China’s national intangible cultural heritages, is a key cultural event in Shanghai during the Spring Festival.
Beijing to Cap Population
Beijing is on course to cap its population at 22 million in 2017, as the capital saw its population growth rate slow in 2016, said the municipality’s acting mayor Cai Qi.
Beijing plans to remove nonessential functions from the city and improve urban management, said Cai while delivering the city’s annual government work report at the opening of the 2017 session of the Beijing Municipal People’s Congress on January 14.
The municipal budget will allocate a guidance fund of 10 billion yuan ($1.45 billion) for the campaign.
Non-essential functions include manufacturing, logistics and wholesale markets.
The campaign includes the demolishing of illegal buildings, relocating or improving 158 markets and logistics centers, and closing more than 500 general manufacturing and polluting companies, according to Lu Yan, head of the Beijing Development and Reform Commission.
E-Commerce Boosts Tourism
China’s tourists spent more money through online travel agencies(OTA) thanks to rapid growth of ecommerce and the mobile Internet, according to an industry report.
Such tourists spent over 600 billion yuan ($87 billion) on OTA platforms, up 34 percent year on year and far exceeding tourism spending at brick-and-mortar travel agencies, according to a report by China’s largest OTA, Ctrip, which cited data from a research company.
The report said that Ctrip had about 250 million users who spent over 20 billion yuan ($2.9 billion) on its OTA platform in 2016, with customers paying over 3,000 yuan($435) on average.
Meanwhile, a majority of the orders were placed via mobile devices rather than desktop computers.
About two thirds of tourism spending through Ctrip went on overseas trips, the report pointed out. Thailand topped the list of destinations with the highest spending by China’s outbound tourists, followed by Japan, South Korea and the United States.
Official data show that tourists from China made 4.44 billion domestic trips, up 11 percent year on year, and 122 million outbound trips in 2016.
New Gibbon Species Discovered
A new species of gibbon has been discovered in southwest China’s Yunnan Province. The new species, with white eyebrows, lives mainly around Gaoligong Mountain in Yunnan and is morphologically and genetically distinct from other species, according to a research paper published by the American Journal of Primatology.
Scientists began research on the white-browed gibbons in Yunnan in 2007. A joint study by 15 scientists from five countries confirmed the discovery of the new species.
The Gaoligong Mountain whitebrowed gibbons, whose population numbers no more than 200, inhabit altitudes of 500 to 2,000 meters, said Jiang Xuelong, a researcher with the Kunming Institute of Zoology under the Chinese Academy of Sciences.
Scientists have suggested the new species should be categorized as endangered and have called for improved conservation.
Gibbons are small apes inhabiting southern, eastern and southeastern Asia. The new species increases the number of recognized gibbon species currently existing to 20.
Disaster Prevention
China will improve efficiency in disaster prevention and relief by 2020 to reduce the impacts of such events on ordinary people.
The government will keep direct economic losses to an average of 1.3 percent or less of total GDP annually during the 2016-20 period, while the death toll from disasters will be kept under 1.3 per million people, according to the disaster relief five-year plan released by the State Council on January 13.
During the 2010-15 period, about 1,500 people died or went missing each year due to disasters.
China will build a wellconnected disaster relief supply reserve system linking the Central Government with authorities at lower levels to ensure that victims have timely access to support within 12 hours of a disaster.
China will also improve related laws and regulations and improve the nation’s ability to predict, prevent and counter disasters.
Crime Crackdown
Forty-four people in southwest China’s Guangxi Zhuang Autonomous Region were sentenced to prison terms of up to 25 years for their involvement in a mafia-style gang, a local court said on January 15.
According to the Dahua Yao Autonomous County court in Hechi, two people surnamed Ma and Li organized the gang, many of whose members were released prisoners or unemployed. From 2010 to 2014, the gang carried out a series of criminal activities and destroyed social order by illegally controlling food markets, entertainment venues and other sites in Hechi. They made over 500,000 yuan ($72,479) in profits from extortion, forced transactions and underground gambling operations. The gang was also found to have illegally possessed firearms.
Ma and Li were respectively given prison terms of 25 and 22 years and fined 110,000 yuan($15,954) and 85,000 yuan ($12,328). Personal assets of 500,000 yuan were confiscated from each of them. The other 42 people involved were sentenced to prison terms ranging from 10 months to 20 years. The trial lasted 19 days.
Mobile Internet Services
China’s Central Government has issued a guideline on mobile Internet services management, calling for more efforts to develop the sector in a healthy and orderly manner.
The guideline calls for increasing the use of mobile Internet services in sectors including transport, tourism, education, health and public security, to better serve the public.
It says that mobile Internet services could play a big role in poverty relief, as they provide an efficient means to connect underdeveloped regions with more prosperous areas.
The guideline, issued by the General Offices of the Central Committee of the Communist Party of China and the State Council, also stipulates the need to cultivate an orderly environment for the development of mobile Internet services.
“With the rapid evolution of Internet technology, threats and risks posed by mobile Internet services are prominent and must be addressed,” the guideline states.
China will resolutely crack down on criminal activities such as instigating the subversion of state power and inciting religious extremism through mobile Internet services, it says, adding that promoting ethnic separatist ideology and instigating violence and terror will also be targeted.
The document highlights the need to regulate competition and optimize the environment for the development of mobile Internet services in order to unleash energy for innovation and market potential.
It urges preventing and eliminating risks caused by the development of mobile Internet services to ensure the security of network data, technology and apps.
Coastal Style
Models display colorful costumes belonging to the Li ethnic minority, whose members live in south China’s Hainan Province, on January 15.
The show was part of the closing ceremony for the 2017 Hainan International Tourism Trade Expo, which took place on January 12-15, attracting over 500 companies from home and abroad. Purple Clay Art
Visitors appreciate purple clay wares during an exhibition at the newly-opened Yixing Museum in Yixing, east China’s Jiangsu Province, on January 12.
The three-month exhibition displays some Yixing purple clay wares, which were collected by Beijing’s Palace Museum. The new museum, with an area of 25,000 square meters, opened on January 10.
Overcapacity Slash
Shanxi Province, the center of China’s coal industry, will cut 20 million tons of coal capacity in 2017, said the provincial government on January 14.
Slashing excess coal production capacity would remain top of the local government’s agenda in 2017, said Lou Yangsheng, Governor of Shanxi, when delivering the provincial government work report at the annual session of the Shanxi Provincial People’s Congress.
“Coal overcapacity reduction should be achieved through market and law-based means,” said Lou, adding that mergers and reorganizations will be encouraged.
Shanxi reduced its coal production capacity by 23.25 million tons and shut down 25 coal mines in 2016. The province cut coal production by 143 million tons, or 40 percent of the country’s total reduction in 2016.
The move is part of a national campaign to cut overcapacity, which has achieved tangible results. China met its 2016 target of phasing out 45 million tons of steel and 250 million tons of coal production capacity.
Shanxi has also set an economic growth target of 5.5 percent for 2017, which aims to “leave maneuvering room for transformation and reform,” said Lou.
Obstacles remain on the province’s path of economic recovery, such as high debt and a lack of new growth engines and talent resources, warned Lou.
Rising FDI
Foreign direct investment (FDI) on the Chinese mainland maintained steady growth in 2016 on the back of strong investment in the service industry.
FDI rose 4.1 percent year on year to reach 813 billion yuan ($118 billion) in 2016, the Ministry of Commerce (MOFCOM) said in an online statement.
Growth slowed from the 6.4-percent gain in 2015. In December 2016 alone, the FDI inflow rose 5.7 percent.
Foreign investment in the service industry rose 8.3 percent year on year to 572 billion yuan ($82.99 billion), accounting for 70.3 percent of all FDI.
FDI in hi-tech services was particularly strong, up 86.1 percent from a year earlier to reach 95.6 billion yuan ($13.87 billion). MOFCOM attributed the steady momentum to government action, such as easing restrictions in free trade zones (FTZs) and simplifying procedures for investment entry.
In 2016, FDI in FTZs in Shanghai, Guangdong Province, Tianjin and Fujian Province jumped 81.3 percent to 88 billion yuan ($12.77 billion).
FDI from the United States and the EU rose 52.6 percent and 41.3 percent, respectively. FDI from Japan edged up 1.7 percent in 2016, reversing two years of falls.
The number of newlyestablished foreign-funded companies investing over $100 million exceeded 840, with businesses covering many emerging and hi-tech industries.
To attract more foreign investment, Chinese authorities are considering revising market entry guidelines by cutting the number of restrictive measures from 93 to 62.
Pre-Festival Shopping
Customers pick snacks at a shopping fair in Wuhan, capital of central China’s Hubei Province, on January 14. Tens of thousands of New Year goods are provided at the fair by more than 700 companies.
Reducing Risks
The central bank has ordered thirdparty payment platforms to put part of their customer provisions in specific official accounts to reduce financial risks.
From April 17, non-bank payment institutions such as Alibaba’s Alipay should put some of their customers’ stock fund into specific accounts in designated financial institutions with no interest paid, according to a statement released by the People’s Bank of China.
Customer provisions are money that clients pay in advance to payment platforms for certain services and are often used by these platforms for their own profit.
Payment institutions should put 12 to 24 percent of total customer provisions into designated accounts in line with their services. This will not cause liquidity problems, according to the statement.
The new order aims to defuse financial risks as customer provisions may be earmarked by payment companies for high-risk and illegal practices, the statement said.
A total of 267 payment institutions had customer provisions totaling over 460 billion yuan ($66.7 billion) at the end of September 2016, randomly deposited across many accounts generating liquidity squeeze risks.
IPR Center
An intellectual property rights (IPR) transaction center was established in Shanghai on January 13.
The center will support IPR evaluation, transfer quotations, transaction authentication, settlement, trusteeship registration and financing. Shanghai has seen a growing number of IPR applications in recent years. During the first 11 months of 2016, the city received 105,000 patent applications, a rise of 22.6 percent from the year before.
Lu Guoqiang, Director General of the Shanghai Intellectual Property Administration, said the center is a facet of Shanghai’s economic restructuring.
The center will improve the exchange system and assist the monetization of intellectual property rights, offering discounted services to small and mid-sized enterprises.
Flourishing Business
Staff members of an online store process orders in Qingyanliu Village of Yiwu City, east China’s Zhejiang Province, on January 3.
According to the Department of Commerce of Zhejiang, consumers spent more than 1 trillion yuan ($149.4 billion) at online stores from the province in 2016, up 35.43 percent year on year.
Foreign Trade Up
China’s foreign trade stabilized and returned to growth in the fourth quarter of 2016, but concerns are looming on rising protectionism that is likely to bring uncertainties to the new year’s outlook.
Total foreign trade value was up 3.8 percent in the last three months of 2016, data from the General Administration of Customs (GAC) showed on January 13.
For the whole year, total exports and imports decreased 0.9 percent year on year to 24.33 trillion yuan($3.53 trillion), narrowing significantly from a 7-percent decline in 2015. In the fourth quarter of 2016, China’s exports were up 0.3 percent from a year ago, while imports climbed 8.7 percent, compared with a 0.3-percent decrease in exports and a 2.3-percent rise in imports in the third quarter, according to GAC spokesperson Huang Songping.
China’s foreign trade surplus narrowed to 3.35 trillion yuan ($485.9 billion) in 2016, down 9.1 percent from a year earlier, according to GAC data. In December alone, exports were up 0.6 percent year on year, while imports jumped 10.8 percent.
Tourism Growth
China will transform its highly resource-dependent tourism into a“highly intensive” industry, according to an official on January 13.
Li Jinzao, Chairman of the China National Tourism Administration(CNTA), said that authorities have a three-step strategy to complete the transformation.
The first step is to change the tourism industry into a “relatively intensive” one from 2015 to 2020; the second step is to develop an intensive tourism industry from 2021 to 2030; and the third step is to achieve the goal of building a “highly intensive” tourism industry from 2031 to 2040, according to Li.
He added that innovation would be carried out to provide people with diverse products and high-quality tourism, including countryside trips, and public service facilities for tourists such as toilets would be improved in 2017.
China’s tourism revenue totaled about 4.69 trillion yuan ($680.7 billion) in 2016, up 13.6 percent year on year, according to CNTA data. China’s tourists made 4.44 billion trips in 2016, an increase of 11 percent from 2015, the data showed.
The nation will work to develop tourism into a major driver of economic transformation and upgrading. By 2020, investment in tourism is expected to grow to 2 trillion yuan ($290.1 billion), and the sector will contribute more than 12 percent of GDP, according to the Five-Year Development Plan for Tourism (2016-20) issued by the State Council.
Job-Hunting Season
Students wait for interviews during a recruitment fair in Shanghai on January 14.