MNI China Press Digest Aug 20:Entry, Revenue, U.S. Cooperation

(MNI) - Highlights from Chinese press reports on Tuesday:

• China saw 17.2 million foreigners enter the country from January to July this year, up 129.9% y/y, according to the National Immigration Administration. In total, 5.9 million foreign tourists entered Hainan from Hong Kong and Macao using the recently introduced visa-free policy, 21st Century Business Herald reported. Liu Haitao, deputy director at the National Immigration Administration, said Chinese grown fruit and vegetables can now reach Europe 30 days earlier than sea transportation using train freight after fast channel inspections opened.
• China’s sales revenue in eastern and western regions grew by 5% y/y in July, with Guangdong, Shanghai and Zhejiang up 5.8%, 5.9% and 7.8%, according to VAT invoice data released by the State Administration of Taxation. Industrial enterprises nationwide saw revenues grow 6% y/y, with high-tech industries and aviation equipment manufacturing increasing by 13.3% and 14.6%. Huang Lixin, director at the State Administration of Taxation, said the results showed China’s economy was stable and improving. (Source: Securities Daily)
• The People’s Bank of China and the U.S. Treasury Department agreed to strengthen further China-U.S. financial stability cooperation during a recent Financial Working Group meeting. The meeting was co-chaired by Xuan Changneng, deputy governor of the PBOC, with both sides communicating constructively on issues including financial stability and supervision, securities and capital markets, cross-border payments, and international financial governance. (Source: Yicai)