China’s foreign direct investment into high-tech industry surged 20.2 percent year-on-year in the first four months this year, official data showed on Thursday.

China’s foreign trade development is expected to further stabilize and improve in 2018, the Ministry of Commerce (MOC) said Thursday.

Alibaba Group Holding Ltd is spreading its wings further into South Asia by acquiring the region’s largest e-commerce platform.

China’s leading electric vehicle maker BYD Co Ltd on Tuesday signed a contract for 500 electric dump trucks for construction companies in Shenzhen, Guangdong province, marking its largest sales order of its kind.

Despite a shaky global recovery and rising trade protectionism, the Asian economy will maintain robust growth in the upcoming years, as countries in the region deepen economic cooperation and benefit from the Belt and Road Initiative, renowned economists and officials recently said at the Boao Forum for Asia annual conference.

China’s economy grew at an annual pace of 6.8% in the first quarter compared to the same period last year, according to official data, beating forecasts for the period.

China will allow full foreign ownership of car firms by 2022 in a move that could open up the world’s biggest car market.

The nation will cut import tariffs on automobiles and other products as early as possible, as part of the country’s initiative to further open up, Vice-Minister of Finance Cheng Lihua said on Wednesday.

China will boost the efficiency of its State-owned enterprises with market-oriented principles in the next round of the nation’s opening-up so they can better compete in overseas markets, the head of the State-owned assets regulator said on Wednesday.

The World Trade Organization (WTO) said on Thursday that the global trade is expected to remain strong, with the merchandise trade volume will grow 4.4 percent in 2018 and 4.0 percent in 2019.