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Personnel work on the C919， the fi rst large passenger aircraft designed and built by China， at the Commercial Aircraft Corp. of China in Shanghai on April 11.
The aircraft has recently been given the go-ahead to begin a series of high-speed taxiing tests， the last step before its maiden fl ight. The process usually takes one to two months.
Panda Library
A panda-themed library is being built in southwest China’s Sichuan Province， home of the endangered bear.
Located in the Chengdu Panda Road Primary School in the provincial capital Chengdu， it is expected to open in 2018.
Principal of the school Zhang Mingrong said the facility will be able to house thousands of books and audio and video tapes on giant pandas in different languages.
The idea of the library came from several third graders at the school and was approved by the local government.
The display area will be divided into different zones for Asia， Europe， the Americas， Africa and Oceania.
The library has asked potential donors， including panda-loving groups and individuals and wildlife conservation organizations worldwide， for books an d tapes.
Admission to the library will be free， and the collection will be digitalized and open to global netizens.
China had 1，864 giant pandas in the wild at the end of 2015， up from about 1，100 in 2000. There are also 422 animals in captivity， according to the State Forestry Administration.
Cellphone Sales
In a survey， 71.8 percent of respondents said they buy new cellphones every two years or less on average， while 16.8 percent said they change cellphones every year.
According to the survey published by China Youth Daily on April 18， among the 2，004 respondents， more than 60 percent said brand is a major factor when choosing a cellphone.
About 51.6 percent of the people surveyed were born in the 1980s， 21.1 percent in the 1990s and 19.6 percent in the 1970s.
About 82.4 percent of the respondents said smartphones have become an indispensable gadget in their lives. They also heavily rely on laptops， desktops and tablet computers.
Nearly 63 percent said they would consider buying a new phone if their old one had problems， while 42 percent said they might swap the old one， even if it is working well， for a new model.
Also， more than 32 percent said they would buy the latest model from their favorite brand.
While choosing a mobile phone， the other considerations are the price， processor and camera performance， the survey found. A total of 59.9 percent said smartphones and other digital products have made their lives more convenient， but 30.6 percent also blamed them for the negative effects of their heavy reliance on such devices. Green Card Reform
China has begun making a series of changes to rules regarding permanent residence for foreigners， according to a plan issued by the Ministry of Public Security （MPS）.
The foreigners’ permanent residence card will be renamed the foreigners’ permanent residence identity card.
Similar to the IDs used by Chinese citizens， foreigners’ identity information will be embedded in the chips on the machine-readable cards to be shared by railways， airlines， insurance agencies， hotels and banks.
The old version cannot be recognized by machines， and foreigners often face diffi culty in identity authentication， an MPS offi cial said.
“The card will make everything easier，” said an American who has been in China for over 20 years， identifying himself only by his fi rst name， Jonathan. Jonathan received his Chinese green card three years ago.
“What’s inconvenient is that so few foreigners have them， and people don’t know how to deal with them，” he added. “I hope that staff at both government departments and service sectors will be more familiar with its functions.”
Foreigners can apply for the new version at the original registration authorities， while the old version can be used until the expiry date.
Approved by the Central Leading Group for Deepening Overall Reform， the reform plan serves the nation’s high-caliber personnel development strategy， which is to attract more innovative and entrepreneurial people from overseas， and responds to social concerns， the MPS off ciial said.It will also provide foreigners with easier access to public services.
The related technical work is expected to be fi nished by June， after which the new cards can be applied for.
In 2016， 1，576 foreigners became permanent residents in China， an increase of 163 percent over the previous year， according to the MPS.
China has eased its residence and entry policies for foreigners since September 2015， which has helped boost international exchanges.
Public Housing
Two million public rental housing units will be built in 2017 to provide affordable housing for people with low incomes， a senior offi cial said.
Accelerating the construction and allocation of public rental housing is high on the agenda of the Ministry of Housing and UrbanRural Development， Vice Minister Lu Kehua said.
China sees public rental housing as a way of providing homes for families who have been priced out of the property market. In recent years， subsidies and credit support for such housing have been increased. By the end of 2016， 11.3 million families had been provided with accommodation.
Lu said his ministry will work with the national economic planning body and the Ministry of Finance to increase support for the program.
Local governments in some regions have been asked to lower the threshold for the public housing system and give migrant workers access to it. Most regions have already done so.
Making a Splash
People， young and old， celebrate the Water-Sprinkling Festival at a square in Jinghong in Xishuangbanna Dai Autonomous Prefecture， southwest China’s Yunnan Province， on April 15. The traditional event， which also marks the new year festival of the Dai ethnic group， is thought of as a way to secure good fortune in the coming year.
Self-Driving Truck
A China-made， self-driving truck has passed a navigation test， heralding the era of intelligent， automated heavy vehicles.
Truck manufacturer FAW Jiefang presented the self-driving truck at the FAW Tech Center in Changchun， Jilin Province. The vehicle is able to recognize obstacles， slow down， make a detour and speed up.
It reacted correctly to traffi c lights and remote commands and successfully overtook other vehicles， company sources said.
FAW Jiefang plans to commercialize the intelligent driving vehicle as early as 2018.
Hu Hanjie， the company’s General Manager， said the fi rm has built a whole industry chain partnership to develop， manufacture， sell and service self-driving trucks. The participation of more fi rms across the sector will accelerate the use of technology in heavy-duty vehicles， Hu said.
Leading Chinese tech fi rms， including Baidu and Tencent， have invested in self-driving entities. Baidu tested driverless mini cars at the annual World Internet Conference in the last two years.
Industry insiders say the technology may work better with trucks than private cars as truck drivers are more likely to suffer from fatigue while driving long distances. The new system could cut operational costs by replacing drivers.
Head in the Sand
A sandstorm hits Lingwu in northwest China’s Ningxia Hui Autonomous Region on April 17.
Weibo Fined
Weibo.com， a popular social media platform， has been fi ned for disseminating pornography as part of a nationwide crackdown， the antipornography authority said on April 14. In February， the National Offi ce Against Pornographic and Illegal Publications launched a new round of its national campaign against the production， sale and distribution of illegal publications and online erotic content that could affect juveniles.
Investigators found Weibo had started providing audio-visual programs in February 2015 without obtaining a license， and the content included obscene videos.
Weibo was fi ned 30，000 yuan（$4，359） and obscene content was taken off.
The national offi ce has asked all online service providers to draw a lesson and tackle pornography by shutting down accounts with illegal content.
Trade Surplus
Customs data showed that China’s imports grew faster than exports in the fi rst quarter， resulting in a 35.7-percent shrinking of its trade surplus.
Exports in yuan-denominated terms rose 14.8 percent year on year in the fi rst quarter， while imports increased 31.1 percent.
Foreign trade volume reached 6.2 trillion yuan （$902.47 billion） in the fi rst quarter， up 21.8 percent year on year， with a surplus of 454.94 billion yuan （$66.1 billion）.
Customs data refl ected an improved structure of trade modes. In the fi rst quarter， the volume of general trade grew 23.2 percent to 3.49 trillion yuan （$506.9 billion）， taking up 56.2 percent of the total volume of foreign trade， 0.6 percentage point higher than in the same period last year.
Trade with some countries along the routes of the Silk Road Economic Belt and 21st-Century Maritime Silk Road has registered marked growth. In the fi rst quarter， China’s trade with Russia， Pakistan， Poland， Kazakhstan and India rose by 37 percent， 18.7 percent， 19 percent， 69.3 percent and 27.7 percent， respectively.
During the fi rst three months， trade with the European Union gained 16.9 percent year on year. Trade with the United States and the Association of Southeast Asian Nations increased 21.3 percent and 25 percent， respectively， together accounting for 41.4 percent of foreign trade.
Private enterprises took a larger share of foreign trade. Trade of private enterprises grew 22.5 percent to 2.28 trillion yuan （$331.1 billion）， accounting for 36.8 percent of the total foreign trade volume， 0.2 percentage point higher than the same period last year.
In a breakdown of products， electro-mechanical products and traditional labor-intensive products remained the major export goods.
Meanwhile， imports of primary commodities such as iron ore and crude oil continued to grow in both volume and price. Home Prices
China’s property market in major cities continued to stabilize after authorities implemented a string of measures to contain price hikes， according to an offi cial survey released on April 18.
Of the 70 large and mediumsized cities surveyed， 24 cities witnessed a slower price rise year on year in March， up from 20 in February， said the National Bureau of Statistics（NBS）.
A total of 18 cities witnessed a month-on-month price decline or a slower price uptick in March， said the NBS.
Among the 15 fi rst-tier and second-tier cities surveyed， six cities saw a month-on-month price decline in March and six saw price gains of less than 0.5 percent.
In Beijing， new residential house prices rose 0.4 percent month on month in March， while Shanghai prices fell 0.1 percent. House prices in Shenzhen， a southern metropolis neighboring Hong Kong， slid 0.3 percent.
“Prices of newly built homes in 15 major cities including Beijing， Shanghai， Guangzhou and Shenzhen continued to stabilize in March on the back of targeted local government policies，” said NBS statistician Liu Jianwei.
Since October last year， the Chinese Government has implemented a slew of measures to cool fast growth in housing prices， including restrictions on home purchases and increased minimum down-payment requirements.
On a Roll
Workers examine high-temperature ceramic rollers in a factory at a hi-tech industrial park in Pingxiang， east China’s Jiangxi Province， on April 18. The industrial park has become home to over 100 high-end ceramic producers over the past decade.
Express Development
China’s courier sector posted steady growth in the fi rst quarter this year thanks to continued efforts to boost consumption and services， according to the State Post Bureau （SPB）.
The sector generated 98.46 billion yuan （$14.3 billion） in revenue in the fi rst three months of 2017， up 27.4 percent year on year， the SPB said on April 14.
A total of 7.59 billion deliveries were made during the same period， up 31.5 percent year on year.
According to SPB data， 3.03 billion parcels were delivered in March， up 28.1 percent year on year.
For the month of March， the revenue of courier businesses reached 38.26 billion yuan （$5.56 billion）， up 25.4 percent year on year.
China plans to extend the courier network and improve computerized systems， services and international connections by 2020. Spending Spree
Chinese people spent 12 percent more on tourism abroad in 2016， according to preliminary data by the United Nations World Tourism Organization （UNWTO）.
The data shows that China’s international tourism spending totaled$261 billion in 2016， up $11 billion on 2015， consolidating China’s position as the number one source market in the world since 2012， following a trend of double-digit growth in tourism expenditure every year since 2004.
Chinese citizens traveled mostly to Japan， South Korea and Thailand， but also to the United States and some other destinations in Europe， the UNWTO said.
The Chinese market was followed by the U.S. market， whose spending rose by 8 percent in 2016 to $122 billion， up $9 billion on 2015.
Germany， Britain， France and Italy were among the top 10， all reporting growth in outbound demand in 2016， with Germany being the world’s third largest market with a 5-percent growth in international tourism spending in 2016 to $81 billion.
“People continue to have a strong appetite for travel and this benefi ts many countries all around the world， translating into economic growth， job creation and opportuni- ties for development，” UNWTO Secretary-General Taleb Rifai said.
Trained to Help
Two conductors help a woman and a little boy board a train newly added to the rail route from Shanghai to Chengdu， capital of southwest China’s Sichuan Province， on April 16.
FDI and ODI Trend
Foreign direct investment （FDI） into the Chinese mainland rose 6.7 percent year on year in March， slowing from February， while China’s nonfi nancial outbound direct investment（ODI） dropped 48.8 percent year on year to $20.54 billion in the fi rst quarter of this year， offi cial data showed on April 18.
FDI reached 87.8 billion yuan（$12.8 billion） in March， the Ministry of Commerce （MOFCOM） said in a statement. The growth rate was lower than the 9.2-percent increase recorded in February. Total FDI in the fi rst three months of the year edged up 1 percent year on year to 226.5 billion yuan（$32.9 billion）， the MOFCOM said.
Most investment went to the service sector， which saw FDI expand 7.1 percent year on year in the fi rst quarter to account for 73 percent of the total FDI.
Investment in utility services soared 165.6 percent year on year， while hi-tech services attracted 28.7 billion yuan （$4.17 billion） of investment， up 12.4 percent year on year. Investment from the European Union grew 11.2 percent in the fi rst quarter， the MOFCOM data showed.
In March alone， China’s nonfi nancial ODI declined 30.1 percent year on year to $7.11 billion， according to the MOFCOM. Chinese companies invested in 2，170 overseas enterprises in 129 countries and regions in the fi rst three months.
The contract value signed in March rose 22.2 percent year on year to hit $17.92 billion. The Silk Road Economic Belt and 21stCentury Maritime Silk Road Initiative has boosted business cooperation between Chinese and foreign fi rms， the MOFCOM statement said.
Outbound investment in countries involved in the initiative accounted for 14.4 percent of the total ODI in the fi rst three months， up 5.4 percentage points from that in 2016.
Manufacturing， commercial service and information transmission as well as the software and information technology industries took the lead in investment value， demonstrating the special attention from Chinese businesses to the real economy and emerging industries in their outbound investment.
Teaing up Culture
Foreign guests learn to pack Pu’er tea at an exhibition during the 15th China Pu’er Tea Festival held in Pu’er， southwest China’s Yunnan Province， on April 17.
Largest Trade City
Offi cial fi gures suggest Shanghai is now the world’s largest international trading city due to the government’s measures to encourage and upgrade trade.
Imports and exports through the city’s ports were nearly 6.9 trillion yuan （$1 trillion） last year， accounting for 28.3 percent of national value and 3 percent of global trade.
Analysts say this is a result of the government’s efforts to cut red tape， encourage cross-border ecommerce platforms and support the development of local brands. The Shanghai free trade zone has also helped trade become more effi cient and cut costs through faster customs clearance and foreign exchange payments.
Off ciial data shows trade conducted in the pilot program rose six times from a year ago to nearly 2.5 billion yuan （$363.3 million） in 2016.
The aircraft has recently been given the go-ahead to begin a series of high-speed taxiing tests， the last step before its maiden fl ight. The process usually takes one to two months.
Panda Library
A panda-themed library is being built in southwest China’s Sichuan Province， home of the endangered bear.
Located in the Chengdu Panda Road Primary School in the provincial capital Chengdu， it is expected to open in 2018.
Principal of the school Zhang Mingrong said the facility will be able to house thousands of books and audio and video tapes on giant pandas in different languages.
The idea of the library came from several third graders at the school and was approved by the local government.
The display area will be divided into different zones for Asia， Europe， the Americas， Africa and Oceania.
The library has asked potential donors， including panda-loving groups and individuals and wildlife conservation organizations worldwide， for books an d tapes.
Admission to the library will be free， and the collection will be digitalized and open to global netizens.
China had 1，864 giant pandas in the wild at the end of 2015， up from about 1，100 in 2000. There are also 422 animals in captivity， according to the State Forestry Administration.
Cellphone Sales
In a survey， 71.8 percent of respondents said they buy new cellphones every two years or less on average， while 16.8 percent said they change cellphones every year.
According to the survey published by China Youth Daily on April 18， among the 2，004 respondents， more than 60 percent said brand is a major factor when choosing a cellphone.
About 51.6 percent of the people surveyed were born in the 1980s， 21.1 percent in the 1990s and 19.6 percent in the 1970s.
About 82.4 percent of the respondents said smartphones have become an indispensable gadget in their lives. They also heavily rely on laptops， desktops and tablet computers.
Nearly 63 percent said they would consider buying a new phone if their old one had problems， while 42 percent said they might swap the old one， even if it is working well， for a new model.
Also， more than 32 percent said they would buy the latest model from their favorite brand.
While choosing a mobile phone， the other considerations are the price， processor and camera performance， the survey found. A total of 59.9 percent said smartphones and other digital products have made their lives more convenient， but 30.6 percent also blamed them for the negative effects of their heavy reliance on such devices. Green Card Reform
China has begun making a series of changes to rules regarding permanent residence for foreigners， according to a plan issued by the Ministry of Public Security （MPS）.
The foreigners’ permanent residence card will be renamed the foreigners’ permanent residence identity card.
Similar to the IDs used by Chinese citizens， foreigners’ identity information will be embedded in the chips on the machine-readable cards to be shared by railways， airlines， insurance agencies， hotels and banks.
The old version cannot be recognized by machines， and foreigners often face diffi culty in identity authentication， an MPS offi cial said.
“The card will make everything easier，” said an American who has been in China for over 20 years， identifying himself only by his fi rst name， Jonathan. Jonathan received his Chinese green card three years ago.
“What’s inconvenient is that so few foreigners have them， and people don’t know how to deal with them，” he added. “I hope that staff at both government departments and service sectors will be more familiar with its functions.”
Foreigners can apply for the new version at the original registration authorities， while the old version can be used until the expiry date.
Approved by the Central Leading Group for Deepening Overall Reform， the reform plan serves the nation’s high-caliber personnel development strategy， which is to attract more innovative and entrepreneurial people from overseas， and responds to social concerns， the MPS off ciial said.It will also provide foreigners with easier access to public services.
The related technical work is expected to be fi nished by June， after which the new cards can be applied for.
In 2016， 1，576 foreigners became permanent residents in China， an increase of 163 percent over the previous year， according to the MPS.
China has eased its residence and entry policies for foreigners since September 2015， which has helped boost international exchanges.
Public Housing
Two million public rental housing units will be built in 2017 to provide affordable housing for people with low incomes， a senior offi cial said.
Accelerating the construction and allocation of public rental housing is high on the agenda of the Ministry of Housing and UrbanRural Development， Vice Minister Lu Kehua said.
China sees public rental housing as a way of providing homes for families who have been priced out of the property market. In recent years， subsidies and credit support for such housing have been increased. By the end of 2016， 11.3 million families had been provided with accommodation.
Lu said his ministry will work with the national economic planning body and the Ministry of Finance to increase support for the program.
Local governments in some regions have been asked to lower the threshold for the public housing system and give migrant workers access to it. Most regions have already done so.
Making a Splash
People， young and old， celebrate the Water-Sprinkling Festival at a square in Jinghong in Xishuangbanna Dai Autonomous Prefecture， southwest China’s Yunnan Province， on April 15. The traditional event， which also marks the new year festival of the Dai ethnic group， is thought of as a way to secure good fortune in the coming year.
Self-Driving Truck
A China-made， self-driving truck has passed a navigation test， heralding the era of intelligent， automated heavy vehicles.
Truck manufacturer FAW Jiefang presented the self-driving truck at the FAW Tech Center in Changchun， Jilin Province. The vehicle is able to recognize obstacles， slow down， make a detour and speed up.
It reacted correctly to traffi c lights and remote commands and successfully overtook other vehicles， company sources said.
FAW Jiefang plans to commercialize the intelligent driving vehicle as early as 2018.
Hu Hanjie， the company’s General Manager， said the fi rm has built a whole industry chain partnership to develop， manufacture， sell and service self-driving trucks. The participation of more fi rms across the sector will accelerate the use of technology in heavy-duty vehicles， Hu said.
Leading Chinese tech fi rms， including Baidu and Tencent， have invested in self-driving entities. Baidu tested driverless mini cars at the annual World Internet Conference in the last two years.
Industry insiders say the technology may work better with trucks than private cars as truck drivers are more likely to suffer from fatigue while driving long distances. The new system could cut operational costs by replacing drivers.
Head in the Sand
A sandstorm hits Lingwu in northwest China’s Ningxia Hui Autonomous Region on April 17.
Weibo Fined
Weibo.com， a popular social media platform， has been fi ned for disseminating pornography as part of a nationwide crackdown， the antipornography authority said on April 14. In February， the National Offi ce Against Pornographic and Illegal Publications launched a new round of its national campaign against the production， sale and distribution of illegal publications and online erotic content that could affect juveniles.
Investigators found Weibo had started providing audio-visual programs in February 2015 without obtaining a license， and the content included obscene videos.
Weibo was fi ned 30，000 yuan（$4，359） and obscene content was taken off.
The national offi ce has asked all online service providers to draw a lesson and tackle pornography by shutting down accounts with illegal content.
Trade Surplus
Customs data showed that China’s imports grew faster than exports in the fi rst quarter， resulting in a 35.7-percent shrinking of its trade surplus.
Exports in yuan-denominated terms rose 14.8 percent year on year in the fi rst quarter， while imports increased 31.1 percent.
Foreign trade volume reached 6.2 trillion yuan （$902.47 billion） in the fi rst quarter， up 21.8 percent year on year， with a surplus of 454.94 billion yuan （$66.1 billion）.
Customs data refl ected an improved structure of trade modes. In the fi rst quarter， the volume of general trade grew 23.2 percent to 3.49 trillion yuan （$506.9 billion）， taking up 56.2 percent of the total volume of foreign trade， 0.6 percentage point higher than in the same period last year.
Trade with some countries along the routes of the Silk Road Economic Belt and 21st-Century Maritime Silk Road has registered marked growth. In the fi rst quarter， China’s trade with Russia， Pakistan， Poland， Kazakhstan and India rose by 37 percent， 18.7 percent， 19 percent， 69.3 percent and 27.7 percent， respectively.
During the fi rst three months， trade with the European Union gained 16.9 percent year on year. Trade with the United States and the Association of Southeast Asian Nations increased 21.3 percent and 25 percent， respectively， together accounting for 41.4 percent of foreign trade.
Private enterprises took a larger share of foreign trade. Trade of private enterprises grew 22.5 percent to 2.28 trillion yuan （$331.1 billion）， accounting for 36.8 percent of the total foreign trade volume， 0.2 percentage point higher than the same period last year.
In a breakdown of products， electro-mechanical products and traditional labor-intensive products remained the major export goods.
Meanwhile， imports of primary commodities such as iron ore and crude oil continued to grow in both volume and price. Home Prices
China’s property market in major cities continued to stabilize after authorities implemented a string of measures to contain price hikes， according to an offi cial survey released on April 18.
Of the 70 large and mediumsized cities surveyed， 24 cities witnessed a slower price rise year on year in March， up from 20 in February， said the National Bureau of Statistics（NBS）.
A total of 18 cities witnessed a month-on-month price decline or a slower price uptick in March， said the NBS.
Among the 15 fi rst-tier and second-tier cities surveyed， six cities saw a month-on-month price decline in March and six saw price gains of less than 0.5 percent.
In Beijing， new residential house prices rose 0.4 percent month on month in March， while Shanghai prices fell 0.1 percent. House prices in Shenzhen， a southern metropolis neighboring Hong Kong， slid 0.3 percent.
“Prices of newly built homes in 15 major cities including Beijing， Shanghai， Guangzhou and Shenzhen continued to stabilize in March on the back of targeted local government policies，” said NBS statistician Liu Jianwei.
Since October last year， the Chinese Government has implemented a slew of measures to cool fast growth in housing prices， including restrictions on home purchases and increased minimum down-payment requirements.
On a Roll
Workers examine high-temperature ceramic rollers in a factory at a hi-tech industrial park in Pingxiang， east China’s Jiangxi Province， on April 18. The industrial park has become home to over 100 high-end ceramic producers over the past decade.
Express Development
China’s courier sector posted steady growth in the fi rst quarter this year thanks to continued efforts to boost consumption and services， according to the State Post Bureau （SPB）.
The sector generated 98.46 billion yuan （$14.3 billion） in revenue in the fi rst three months of 2017， up 27.4 percent year on year， the SPB said on April 14.
A total of 7.59 billion deliveries were made during the same period， up 31.5 percent year on year.
According to SPB data， 3.03 billion parcels were delivered in March， up 28.1 percent year on year.
For the month of March， the revenue of courier businesses reached 38.26 billion yuan （$5.56 billion）， up 25.4 percent year on year.
China plans to extend the courier network and improve computerized systems， services and international connections by 2020. Spending Spree
Chinese people spent 12 percent more on tourism abroad in 2016， according to preliminary data by the United Nations World Tourism Organization （UNWTO）.
The data shows that China’s international tourism spending totaled$261 billion in 2016， up $11 billion on 2015， consolidating China’s position as the number one source market in the world since 2012， following a trend of double-digit growth in tourism expenditure every year since 2004.
Chinese citizens traveled mostly to Japan， South Korea and Thailand， but also to the United States and some other destinations in Europe， the UNWTO said.
The Chinese market was followed by the U.S. market， whose spending rose by 8 percent in 2016 to $122 billion， up $9 billion on 2015.
Germany， Britain， France and Italy were among the top 10， all reporting growth in outbound demand in 2016， with Germany being the world’s third largest market with a 5-percent growth in international tourism spending in 2016 to $81 billion.
“People continue to have a strong appetite for travel and this benefi ts many countries all around the world， translating into economic growth， job creation and opportuni- ties for development，” UNWTO Secretary-General Taleb Rifai said.
Trained to Help
Two conductors help a woman and a little boy board a train newly added to the rail route from Shanghai to Chengdu， capital of southwest China’s Sichuan Province， on April 16.
FDI and ODI Trend
Foreign direct investment （FDI） into the Chinese mainland rose 6.7 percent year on year in March， slowing from February， while China’s nonfi nancial outbound direct investment（ODI） dropped 48.8 percent year on year to $20.54 billion in the fi rst quarter of this year， offi cial data showed on April 18.
FDI reached 87.8 billion yuan（$12.8 billion） in March， the Ministry of Commerce （MOFCOM） said in a statement. The growth rate was lower than the 9.2-percent increase recorded in February. Total FDI in the fi rst three months of the year edged up 1 percent year on year to 226.5 billion yuan（$32.9 billion）， the MOFCOM said.
Most investment went to the service sector， which saw FDI expand 7.1 percent year on year in the fi rst quarter to account for 73 percent of the total FDI.
Investment in utility services soared 165.6 percent year on year， while hi-tech services attracted 28.7 billion yuan （$4.17 billion） of investment， up 12.4 percent year on year. Investment from the European Union grew 11.2 percent in the fi rst quarter， the MOFCOM data showed.
In March alone， China’s nonfi nancial ODI declined 30.1 percent year on year to $7.11 billion， according to the MOFCOM. Chinese companies invested in 2，170 overseas enterprises in 129 countries and regions in the fi rst three months.
The contract value signed in March rose 22.2 percent year on year to hit $17.92 billion. The Silk Road Economic Belt and 21stCentury Maritime Silk Road Initiative has boosted business cooperation between Chinese and foreign fi rms， the MOFCOM statement said.
Outbound investment in countries involved in the initiative accounted for 14.4 percent of the total ODI in the fi rst three months， up 5.4 percentage points from that in 2016.
Manufacturing， commercial service and information transmission as well as the software and information technology industries took the lead in investment value， demonstrating the special attention from Chinese businesses to the real economy and emerging industries in their outbound investment.
Teaing up Culture
Foreign guests learn to pack Pu’er tea at an exhibition during the 15th China Pu’er Tea Festival held in Pu’er， southwest China’s Yunnan Province， on April 17.
Largest Trade City
Offi cial fi gures suggest Shanghai is now the world’s largest international trading city due to the government’s measures to encourage and upgrade trade.
Imports and exports through the city’s ports were nearly 6.9 trillion yuan （$1 trillion） last year， accounting for 28.3 percent of national value and 3 percent of global trade.
Analysts say this is a result of the government’s efforts to cut red tape， encourage cross-border ecommerce platforms and support the development of local brands. The Shanghai free trade zone has also helped trade become more effi cient and cut costs through faster customs clearance and foreign exchange payments.
Off ciial data shows trade conducted in the pilot program rose six times from a year ago to nearly 2.5 billion yuan （$363.3 million） in 2016.