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China's foreign exchange market remains generally stable in May

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China's foreign exchange market remains generally stable in May

2024-06-18 10:11 Last Updated At:15:07

China's cross-border capital flows had been balanced in May with the foreign exchange market remaining generally stable in the month, according to data released by the State Administration of Foreign Exchange (SAFE) on Monday.

The amount of foreign exchange settlement and sales by banks in May stood at 176 billion U.S. dollars and 191.9 billion dollars, respectively.

During the January-May period of 2024, the accumulative amount of foreign exchange settlement and sales by banks came in at 891.9 billion dollars and 970.7 billion dollars, respectively.

In May, the amount of cross-border receipts and payments by non-banking sectors reached 584.8 billion dollars and 585.1 billion dollars, respectively.

From the January-May period of this year, the accumulative amount of cross-border receipts and payments by non-banking sectors came in at around 2.835 trillion dollars and 2.871 trillion dollars, respectively.

China's foreign exchange market remains generally stable in May

China's foreign exchange market remains generally stable in May

China's foreign exchange market remains generally stable in May

China's foreign exchange market remains generally stable in May

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Satellite communication services become more intimate with people's daily life

2024-07-14 01:42 Last Updated At:02:27

The satellite calling feature on cellphones, representing a new type of satellite application alongside remote sensing, meteorological and navigation satellites, enables users in remote areas without any mobile signal to stay connected.

Data shows that while over 70 percent of the global population now have access to services offered by ground mobile communication systems, these systems only cover 20 percent of land area due to technical and cost limitations.

Next-generation mobile communication technology is expected to achieve a wider coverage, allowing users to make phone calls even in mountainous areas with harsh weather conditions.

Following Chinese tech giant Huawei's launch of satellite calling features in August last year, many domestic smart phone manufacturers have introduced models supporting satellite calls this year, which has quickly found favor with outdoor enthusiasts.

"The introduction of satellite calling feature on cellphones provides extra security for people like me who frequently go outdoors. In case of emergencies like unexpected severe weather or accidental injuries, such a feature can be a lifesaver. Rescue teams can quickly and accurately assess the situation, locate the victim and provide timely assistance," said Xiang Dongbo, an outdoor enthusiast.

The Tiantong-1 satellite system, used by Huawei to power its satellite calling features, was developed by the China Academy of Space Technology (CAST), affiliated with the state-owned China Aerospace Science and Technology Corporation (CASC), which is dedicated to the research, design, manufacture, test and launch of space products.

The system covers China and its nearby regions, including parts of the Middle East, Africa, and parts of the Pacific Ocean and the Indian Ocean.

The BeiDou navigation satellites system, another independently-developed satellite system in China, also supports message communication, enabling users to send texts and report their location even without cell service.

"With the development of large-scale satellite constellations and the decreasing costs in satellite manufacturing, satellite communication services will become more affordable for consumers. We believe that in the near future, costs will drop to a level that enables more users to have access to such services," said Li Yinqiao, a staff member with the CASC.

Satellite communication services become more intimate with people's daily life

Satellite communication services become more intimate with people's daily life

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