China contracting out social media work to promote government, local culture, economic growth: Report
China is contracting out social media work rather than paying individuals to post and promote the government, local culture, economic growth of the country.
Evergrande is set to default on at least one tranche of bond interest payments totalling around USD 120 million, due at the end of September.
The report issued by the Bertelsmann Foundation comes amid a deepening trade dispute between China and the United States which has engulfed other major trading partners.
United States said on Tuesday that it still held the threat of imposing tariffs on USD50 billion of imports from China and would use it unless Beijing addressed the issue of theft of US IPR.
While the Chinese Academy of Social Sciences estimate was better than its previous outlook it warned of possible trade headwinds from US President Donald Trump's protectionist leanings.