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As the importance of the RCEP continues to grow in light of the ongoing COVID-19 pandemic, involved parties share the view that signing the agreement will serve as a clear signal of their unwavering support for the multilateral trading system, regional integration as well as economic development across the region, according to a statement jointly released by participating countries after the virtual 10th (RCEP) Inter-sessional Ministerial Meeting held last week.

As well-developed cashless payments systems like Alibaba's Alipay and Tencent's WeChat Pay are widely adopted in every corner of Chinese life, bookings for transportation, hotels and payment at shops can be done on smartphones easily and securely, according to the report.

As this year marks the 20th anniversary of the cooperation mechanism between China, Japan and the ROK, China is ready to step up trilateral cooperation and uphold multilateralism and free trade, he said. 

As the industry now grapples with overcapacity and high inventories, the government has released stricter subsidy rules to press automakers and battery manufacturers to upgrade technology and push forward the NEV industry.

As the market cools, Gardner cautions against losing sight of the bigger picture of housing affordability. Even as price increases stagnate, the median home sale price remains unaffordable to most buyers.