Tunneling Victory

Workers celebrate the completion of the Altun Mountains tunnel on the Golmud-korla Railway, connecting Golmud in Qinghai Province and Korla in Xinjiang Uygur Autonomous Region in northwest China, on November 19. The completion came after three and a half years of construction. capital of 147.2 billion yuan ($21.02 billion), will invest in new material, new-generation information technology and electronic equipment.

It has 20 stockholders, with the Ministry of Finance being the biggest, holding 15.29 percent of the stakes.

In October, the second national fund for the integrated circuit sector was registered. It has a subscribed capital contribution of 204.2 billion yuan ($29.1 billion).

The government has released a slew of measures to quicken the upgrading of the manufacturing industry for high-quality growth.

A guideline to promote integrated development of the manufacturing industry and modern service industry and a four-year action plan to strengthen manufacturing design capabilities have been released. sector, according to a report issued by the People’s Bank of China (PBC) on November 19.

The market maintained steady expansion with product and service innovations springing up. Green bonds worth over 280 billion yuan ($40 billion) were issued, while outstanding green loans from banking institutions nationwide reached 8.23 trillion yuan ($1.17 trillion), up 16 percent year on year.

New product and service models such as green funds, green insurance and green trust emerged, widening the financing channels for related projects and lowering their financing costs and risks.

The fast development of the sector has promoted high-quality development of the economy, replacing old growth drivers with new ones. It also contributes to pollution prevention and better energy utilization.

The PBC said it will strengthen theoretical research, formulate a system of standards, optimize the institutional environment and encourage product and service