BEIJING, June 15 (Xinhua) -- The following are the highlights of China's key business news from the past week:
SCI-TECH INNOVATION BOARD
China inaugurated its science and technology innovation board on Thursday in Shanghai, kicking off the country's much-anticipated capital market reform this year.
The new market will support tech companies that are in line with the national strategies, make breakthroughs in core technologies and are well accepted by the market to grow stronger, Yi Huiman, chairman of the China Securities Regulatory Commission, said at the launching ceremony of the sci-tech innovation board at the Lujiazui Forum in Shanghai.
China's fiscal revenue rose 3.8 percent year on year to over 8.99 trillion yuan (about 1.3 trillion U.S. dollars) in the first five months of 2019, the Ministry of Finance (MOF) said Friday.
The central government collected about 4.34 trillion yuan in fiscal revenue during the period, up 3.6 percent year on year, while local governments saw fiscal revenue up 3.9 percent to around 4.65 trillion yuan, according to the MOF.
FDI GROWTH IN MAY
China saw steady foreign direct investment (FDI) growth in May, the Ministry of Commerce (MOC) said Thursday.
FDI reached 63.83 billion yuan last month, up 8.5 percent year on year, according to the MOC.
Total foreign investment actually utilized in the past five months stood at 369.06 billion yuan, up 6.8 percent year on year, MOC data showed.
A total of 16,460 new foreign-invested firms were set up during the January-May period.