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    BEIJING Cheap Saints Hoodie , Nov. 1 (Xinhua) -- As China steps into a "new era" of development, the next chapter is beginning for the country's supply-side structural reform with a stronger focus on supply quality and economic rebalancing.



    The reform, initiated two years ago, was set as the main task for economic growth at the recent 19th National Congress of the Communist Party of China (CPC), as the consensus was reached that China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development, and more attention must be paid to quality and efficiency than speed.



    The past two years have been fruitful. Progress has being made on major tasks including cutting excess capacity, destocking, deleveraging, reducing costs and shoring up weak areas, laying the base for future reforms.



    The advancing of supply-side structural reform has improved the supply-demand structure, and companies have enjoyed better profitability and lower production costs, said He Ping, statistician with the National Bureau of Statistics (NBS).



    In the first three quarters on this year, industrial companies with annual revenue of more than 20 million yuan (about 3 million U.S. dollars) reported a 22.8 percent of profit growth, faster than the 21.6 percent recorded from January-August, NBS data showed.



    Efforts in supply-side structural reform have also lowered financial risks. At the end of September, the debt-asset ratio of large industrial companies had dropped 0.6 percentage points from a year ago to 55.7 percent.



    However, more needs to be done in a changing economic landscape. Given the solid progress, more focus will now be put onto improving the supply system quality, which will be a key direction for building a modernized economy for the following stage, according to economists.



    After a long period of breakneck growth, the Chinese market for major products has become oversupplied, and the demand steering the Chinese economy has shifted from product quantity to quality, according to Zhang Liqun with the State Council's Development Research Center.



    "It is the most important and necessary change for a new development stage," said Zhang.



    In the "new era," instead of high GDP growth, China will pursue fairness and common prosperity, support underdeveloped regions and speed up technological innovation and industrial upgrading, according to Jiang Chao, chief economist at Haitong Securities.



    China has previously set targets to double its economic size in the first two decades of this century, but no such targets were mentioned during the 19th CPC National Congress, which outlined a two-step approach to making China into a great modern socialist country.



    "For the economy, the most prominent problem now is growth quality, and we need to address unbalanced and inadequate development through changes in quality, efficiency and growth drivers," said Yang Weimin, deputy head of the Office of the Central Leading Group on Financial and Economic Affairs.



    China will accelerate the real economy, build itself into a manufacturer of quality products, while moving its industries toward the medium-high end of the global value chain and fostering a number of world-class advanced manufacturing clusters.



    To bring forward the supply-side structural reform, strides are expected in both the upgrading of traditional industries and the development of emerging and high-tech industries, said Lian Ping, an economist at the Bank of Communications.



    Industries like the internet, big data, and artificial intelligence will be further integrated with the real economy, with new growth areas and growth drivers to be fostered in medium-high end consumption, innovation-driven development, the green and low-carbon economy, the sharing economy and modern supply chains, Lian said.



    ALGIERS, Oct. 3 (Xinhua) -- Chinese telecommunications manufacturing giant Huawei on Tuesday signed an agreement with Algerian telecommunications operator Algerie Telecom (AT) to develop very high-speed Internet service, Algeria's state news agency reported.



    According to Algeria Press Service, the partnership agreement is aimed at deploying optical cabling terminates at homes and companies.



    The project will provide more effective communication between network users, including video conferencing, peer-to-peer, Internet Protocol (IP) telephony and online backup.



    AT's CEO Adel Khemane told reporters that this "partnership project is set to deploy a very high-speed broadband network over a period of one year, in a bid to offer this service to more than one million customers."



    Meanwhile, another Chinese telecom product manufacturer, ZTE, signed a partnership agreement with the Algerian Federation for Young Entrepreneurs (FNTE), as part of the deployment of an optical cabling network nationwide.



    AT aims to strengthen its positioning in the telecommunications sector in Algeria amid competition from some prominent private operators.



    China and Algeria, which established a comprehensive strategic partnership in 2014, have expanded cooperation in fields such as infrastructure, engineering construction and telecommunications.







    HOUSTON, Sept. 27 (Xinhua) -- A sound and stable China-U.S. relationship not only serves the fundamental interests of both countries, but also meets global expectations, Chinese Consul General in Houston Li Qiangmin said Wednesday.



    Delivering a speech at the reception celebrating the 68th anniversary of the founding of People's Republic of China, Li said both China and the U.S. have closely coordinated on important bilateral, regional and global issues.



    Chinese President Xi Jinping and U.S. President Donald Trump have met twice this year, charting the course for the development of China-U.S. relations.



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