Trust companies post higher revenue

China's trust industry maintained rapid revenue growth while its scale continued to fall during the first three months of this year, according to a report from the China Trustee Association. The country's 68 trust companies had 21.33 trillion yuan ($2.75 trillion) worth of entrusted assets at the end of March, compared with 21.6 trillion yuan at the end of last year. Despite downward economic pressures caused by the novel coronavirus epidemic, the industry reported faster revenue growth during the first quarter, the report showed.

State Grid to lift new infrastructure input

The State Grid Corp of China said it will invest 24.7 billion yuan ($3.5 billion) in new infrastructure across the country this year. The funds will mainly go to big data centers, industrial internet, 5G networks and artificial intelligence, according to the company.

Xinhua