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As the NDB has received AA+ ratings from international credit ratings agencies, it enables the bank to mobilize financing from global and domestic capital markets at competitive rates, he added.

As the culmination of a long series of market-oriented reforms that have sharply raised the real incomes of ordinary Chinese people and created more and more capable institutions, this shift away from an export model based on low-cost labor is both necessary and also a very good thing for China.

As summer arrives, Changning county in Southwest China's Yunnan province is blooming with red and blue colors flowersacross the county. [Photo by Yi Ran/for chinadaily.com.cn]

As the novel coronavirus spread across the world, the smartphone industry is undergoing more uncertainties and more severe market competition than before. Although the epidemic has had negative impact on smartphone sales at the beginning of 2020, vendors still hold positive market expectations and are betting big on 5G — the industry's new engine of growth.

As the country's flood season has begun, continuous downpours have lashed large parts of southern China and caused serious flooding in some areas. Meanwhile, some other areas have been hit by drought.