Over the first three quarters in 2016, Chinese economy continuously increase at the rate of 6.7%. Head of Chinese economy of State Council Liqun Zhang said when determining whether economy has reached bottom, a very important indicator is investment. Infrastructure increased 19.4% over the 9 months and this investment can stablize total investments.
GDP increase rate is 6.7% in the third quarter, reaching the lowest level since 2009. Real estate has contribute 8% of overall GDP from Jan to Sep. Consumptions' contribution increased by 13.3%, reaching 71% of total drivers. Bet nex export is still below zero, with 7.8% Additionally, the unemployment rate is under 5% for the first time in three years.
When Michele Geraci was interviewed by CRI, he showed great appreciation for the “Innovation growth model”, which is proposed in G20, at Hangzhou, China. “The introduction of innovation in the agenda of G20 is a very positive thing, and it is the first time that we put it in the foreground of the G20, and also, it is very important that this time the G20 is held in China. It is China that is taking the lead at this meeting, and it is China that needs to change its development model and base it more on innovation.
There has been an increase fee in the "free ride" after Didi purchased Uber this Augest. Ministry of Commerce talked to Didi after one month of the M&A, suggesting the monopoly in Taxi APP. After the increase in price, customers claim that taking a ride is almost as expensive as taking a taxi.