or of the China Tourism Academy. “Compared to the United States, w
here 48 percent of its citizens hold a passport, the figure in China is only around 10 perce
nt. It’s estimated that the number of Chinese outbound travelers will reach 230 million in 2030.”
A report published by major Chinese travel agency Ctrip showed th
at 160 million Chinese people have travel plans during the upcoming four-day May Day hol
iday. Thailand, Japan, Vietnam, Taiwan and Indonesia are the top destinations outside the mainland.
Malaysia, which receives around 10 million Chinese tourists annually, began to i
ssue e-visas for Chinese in 2017. “The number of visa stickers on passports of Chinese na
tionals dropped by 70 percent in the first year after the service was introduced, showing its high popularity,” said Han.
Since last year, countries including Australia, New Zealand, Singapore, Turkey, Thailand and Sri Lanka have starte
d to accept visa application documents online and issue e-visas, either a bar code or QR code.
China’s smartphone shipments fell 4.1 percent year on year in March to 26.94 million units, dat
a from the China Academy of Information and Communications Technology (CAICT) showed.
Last month, smartphones made up 94.9 percent of all mobile phone shipments in the country, ac
cording to a report from the CAICT, a research institute under the Ministry of Industry and Information Technology.
Despite the mobile phone market shrinking, the drop has been moderated, said the report.
Overall mobile phone shipments went down 6 percent in March, narrowing from the 1
.9-percent slump in February to 28.37 million units, among which 95.1 percent were 4G phones.
Chinese-brand mobile phones accounted for 90.5 percent of total shi
pments last month, up from 90.3 percent in February 2019, according to the report.
Employees in Shanghai earn the highest monthly incomes in China, according to a report by 58 Tongcheng Recruitment Research Institute.
With an average monthly wage of 9,723 yuan ($1,447.64), Shanghai, China’s financial ce
nter, tops the country’s income rankings, the report on talent flow in quarter one said.
New first-tier city Hangzhou in East China’s Zhejiang province came in second, wi
th an average of 8,684 yuan, up 25.77 percent year-on-year – the highest growth rate.
With development of the Guangdong-Hong Kong-Macao Greater Bay Area set to begin, Gu
angzhou in South China’s Guangdong province offers the most job opportunities, up 24.95 percent year-on-year.
Beijing, Shanghai, Guangzhou and Shenzhen remain job seekers’ p
referred locations, with Shenzhen most popular in the first quarter of this year, the report said.
An employment-first policy has been elevated to the status of a macro policy for the first
time in this year’s government work report, and China will pursue the policy with full force in 2
Chinese firms are expected to play bigger roles than sponsorship at the the upcoming 2019 Beijing International Horticultural Exhibition.
The expo has finished its sponsorship work, signing contracts worth about 1 billion yuan ($148.8 million) with 25 Chinese f
irms, including Air China and China Mengniu Dairy Company Limited, a record high sum for similar events in the field.
The firms will not only sponsor, but also serve the expo with
products, services and technologies, according to a consultant for the event.
Artificial intelligence firm Baidu will build a high-tech ecology experience pavillon to highlight the importance of environme
ntal protection, while China Telecom will showcase the country’s development in 5G technology.
Slated to kick off on April 29, the 162-day expo is poised to impress an expected 16 million visitors from hom
e and abroad, with a huge collection of plants, flowers and eye-catching pavilions, as well as ideas for green development.
China’s foreign exchange reserves rose to $3.0988 trillion by the end of March, official data showed Sunday.
The amount increased by $8.6 billion, or 0.3 percent from the end of February, according to the State Administration of Foreign Exchange.
China’s peer-to-peer (P2P) lending industry will continue to shrink and cons
olidate due to tighter regulation and weak investor sentiment, Fitch Ratings said in a report.
The number of P2P investors and platforms declined steeply last year after regulators tightened supervision, and Fitch exp
ect more platforms to close or consolidate this year as reforms continue to take effect, leading to a smaller, less fragmented market.
Stronger regulation of P2P companies will be positive over the lo
nger term for a sector that has yet to be tested through economic cycles, the report said.
New regulations will also require many platforms to reduce their
reliance on retail investors, leading to a shift toward wholesale or institutional funding sources.
Lenders with more robust business models, established risk-management capabil
ities and more stable access to funding are likely to gain market share, according to Fitch.
o take the national college entrance examination, or gaokao, to be ad
mitted to a university. Independent enrollment was added as an alternative admission met
hod in 2003 to allow some key universities to enroll students based on subjective criteria.
Currently, 90 universities have allocated 5 percent of their enrollment slots to indepen
dent students with special talents. They admit more than 20,000 such students every year.
Tests of academic competence and interviews are usually required. Universit
ies start the independent enrollment process in March, while the gaokao takes place in June.
The gaokao is a highly competitive and stressful test, and in some provinces with large num
bers of high school graduates, a single point can separate more than 1,000 students. The exams create a lot of anxiety amo
ng students and parents, and some will do anything possible, even committing fraud, to be admitted to a better university.