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going reform measures have made its financial market increasingly appealing to overse
as investors,” the administration said on Monday in a statement on its website.
“The administration will continue to support the opening-up of financ
ial markets, meet demand from overseas investors to expand investment in the ma
rkets and attract global long-term capital to enter China’s financial markets,” it said.
Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore
ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co
mpared with $3.099 trillion by March, according to data released by the administration on Tuesday.
China is willing to see the accelerated development of the onshore capital market, said analysts, allowing direct fi
nancing to play a more significant role in allocating savings and investment, and better serve the economy.
ures are consistent with the top-line measured GDP growth number. For example, production and
supply of electricity, thermal power, gas and water increased by 7.1 percent in the quarter. Pl
us, value-added index of transport, storage and post increased by 7.3 percent.
A closer look at the highest growth sectors shows that the economy is moving toward the long-term goal of shif
ting away from a development strategy based on heavy investment in industry and
infrastructure to one based on services and domestic consumption. Also, more productive industries that tur
n out higher-value added goods are growing at a much faster rate than traditional heavy industry.
Among large companies, State-owned enterprises grew 4.5 percent yea
r-on-year while shareholding enterprises grew almost twice as fast, at 7.8 percent. So, stro
ng progress is being made toward the goal of promoting private enterprise, which was re
inforced by many policies announced at last month’s meeting of the National People’s Congress.