China, Georgia start feasibility study on FTA

China, Georgia start feasibility study on FTA

BEIJING, Mar. 11 (Xinhua) — China and Georgia have agreed to set up a joint working group to study the feasibility of a free trade agreement (FTA), according to China’s Ministry of Commerce (MOC) on Wednesday.
In addition to a joint statement on the FTA signed Tuesday by the two countries’ commerce and economy departments in Beijing, a memorandum of understanding (MoU) on strengthening cooperation for the Silk Road Economic Belt initiative was signed.
Chinese Minister of Commerce Gao Hucheng said the move was of “strategic importance” for economic and investment cooperation between China and the Eurasian area.
Trade between China and Georgia totaled 960 million U.S. dollars in 2014. China is Georgia’s third largest trading partner.
The Silk Road Economic Belt initiative was proposed by China in 2013. It will be established along the ancient Silk Road trade route, stretching northwest from China’s coastal area through Central Asia, the Middle East and on to Europe.  Enditem

China to encourage mass entrepreneurship, innovation

Stockholm, May. 18(Greenpost) — China’s State Council has issued opinions to instruct the public on entrepreneurship and innovation, according to an announcement on Wednesday.
Mass entrepreneurship and innovation are important for implementing a new growth strategy as China enters a “new normal” phase of slower growth.
China needs to develop “twin engines” of popular entrepreneurship and mass innovation paired with increased supplies of public goods and services to drive development, Premier Li Keqiang said in the government work report at the National People’s Congress annual session this year.
The State Council vowed to provide a better environment for popular entrepreneurship and mass innovation by lowering barriers, strengthening public services and encouraging college students, scientists and engineers in starting new businesses.
China will pilot equity-based online crowd funding and encourage banking and financial institutions to provide loans as financing channels to support small businesses, said the announcement.  Source Xinhua

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