>Global digital trade conference kicks off
The 2021 Global Digital Trade Conference kicked off on Tuesday in Wuhan, the capital of central China's Hubei province.
The event has attracted diplomatic envoys and representatives of business associations from approximately 100 countries, as well as over 10,000 merchants, experts and scholars.
Thousands of types of imported goods from more than 40 countries, including snacks, beverages and handicrafts, are being exhibited at the conference, which is hosted by the provincial government and organized by the municipal government of Wuhan and the provincial commerce department.
At the opening ceremony, 15 well-known enterprises and institutions from across the country signed a proposal to support the construction of a national trade logistics center in Wuhan.
>China improves pricing mechanism for coal-fired power
China's top economic planner on Tuesday announced an improved pricing mechanism for coal-fired power to deepen market-oriented pricing reform in the sector.
The floating range of the market-based electricity transaction prices are adjusted in principle to a range of 20% fluctuation in either direction, compared with the current ceiling of 10% and floor of 15% from the benchmark price, said the National Development and Reform Commission (NDRC). The market transaction prices of coal-fired electricity for high energy-consuming enterprises are not restricted by the ceiling of 20% upward fluctuation.
All local governments should give priority to the supply of low-cost power for residents and agriculture, said the NDRC.
This will help give full play to the role of the market so that electricity prices can better reflect the supply and demand relationship, as well as the cost changes, said NDRC official Peng Shaozong. The new rules will also encourage high energy-consuming enterprises to increase investment in technological transformation, improve energy utilization efficiency, and promote the transformation and upgrading of the industrial structure, he said.
>Support for college student entrepreneurship, innovation
China will support the entrepreneurship and innovation of college students with renewed efforts, according to a set of guidelines released by the General Office of the State Council.
Hailing college students as a vibrant force for entrepreneurship and innovation, the guidelines called for measures to create a more favorable environment for business startups and innovative projects launched by college students.
Relevant departments should enhance intellectual property protection for such innovative projects, the guidelines said. They also stressed the importance of improving financial support for college entrepreneurs and innovators by exploring new funding channels and introducing favorable financial policies.
The guidelines also noted the need to improve entrepreneurship and innovation education, urging colleges to devote more attention to these areas in their curriculums.
>IMF revises down 2021 global economy forecast
The International Monetary Fund has projected the world economy will grow by 5.9% this year, while China's growth will moderate to 8%, both 0.1 of a percentage point lower than the IMF's July estimates.
"The downward revision for 2021 reflects a downgrade for advanced economies - in part due to supply disruptions - and for low-income developing countries, largely due to worsening pandemic dynamics," the IMF said in its latest World Economic Outlook released on Tuesday.
Fueled by the highly transmissible Delta variant, the recorded global COVID-19 death toll has risen close to 5 million, and health risks abound, holding back a full return to normalcy, IMF Economic Counsellor Gita Gopinath said.
"Pandemic outbreaks in critical links of global supply chains have resulted in longer than expected supply disruptions, feeding inflation in many countries," she continued.
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