First of all it means, of course, that the renminbi has become a new reserve currency, which gives China a bigger say in future global economic affairs. This serves as an affirmation of a series of significant economic reforms in China and an acknowledgement that the Chinese government will respect market principles in the future, which has great symbolic meaning.

Of course not, in terms of domestic affairs, the renminbi's inclusion in the SDR basket will serve as a catalyst for domestic financial reform. The price of property in China will gradually be brought into line with the international community and the property bubble problem will gradually get resolved.

Deepen financial reform and improve the healthy development of large, medium and small financial institutions

The meeting pointed out that policy support will improve the development of the economy. Department coordination should also be strengthened in particular the coordination and cooperation between the financial sector and the finance, development and reform departments.

“Steady or stability” is forefront in this reform.

The meeting held that the current macroeconomic situation is generally stable, economic and financial development are on a stable trend, supply-side structural reforms continue to refine, employment remains stable, and microeconomics resilience is further strengthened.

The Greater Bay project is a landmark initiative by the Chinese government and is a stride forward for China’s urbanization strategy after 40 years of economic reforms and expansion. It comprises two Special Administrative Regions- Hongkong and Macau and nine other cities in the Guangdong province -Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Zhaoqing, Jiangmen and Huizhou. They are China’s ambition to create a world class city cluster to compete on the world stage - one that is on par to other city clusters such as Greater New York, San Francisco Bay Area and Greater Tokyo Area.

At 9 in the morning, the military parade held at Zhurihe and the joint exercises base celebrating the 90th anniversary of the founding of the People's Liberation Army. This is the first time a military inspection has been held on Army Day since the formation of the new China, we see an excellent level of achievement for national defense and the new image that the army reform is bringing to the national troops.

Xiao Lin, director of the reform department of the administrative examination and approval system of the Pudong New Area District Office, said that the foreigners who came to work in China must first undergo a medical examination, then apply for a work permit to the human society department, and then apply for a residence permit with the work permit. It takes 22 working days to connect seamlessly

After the reform, the processes of these 3 departments will be aligned and connected so that both the work permit and residence permit will be approved in five days.