Briefly

CDB to boost forestry project exposure

The China Development Bank, one of the country's policy banks, has pledged to step up financial support for forestry projects during the 14th Five-Year Plan period (2021-25). The lender said it plans to issue 150 billion yuan ($22.87 billion) in loans during the period to support the construction of national reserve forests as well as forest ecology.

Fiscal revenue falls 5.5% on yearly basis

China's fiscal revenue plummeted during the first 10 months of this year, down by 5.5 percent on a yearly basis to 15.85 trillion yuan ($2.42 trillion), official data showed on Wednesday. Tax revenue slid 4.6 percent from the previous year to 13.5 trillion yuan during the period. Revenue from value-added tax, the largest fiscal revenue source in the country, fell 11.4 percent to 4.82 trillion yuan, according to data from the Ministry of Finance.

5G, industrial internet meet starts in Wuhan

A three-day national conference on 5G and the industrial internet commenced in Wuhan, the capital of Hubei province, on Thursday. During the "China 5G + Industrial Internet Conference," industry participants will hold discussions and deliberations on several key topics, apart from inking several business deals. The event will also support Hubei's post-epidemic economic recovery and development. Achievements in 5G and the industrial internet will be demonstrated in a 6,000-square-meter area during the conference, with 14 select enterprises set to display their technologies and products.

Xinhua