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|BUDAPEST， May 19 (Xinhua) -- Hungarian Economy Minister Mihaly Varga said on Thursday self-driving vehicles were key to national development.
While attending a conference here on The Car of the Future， Varga called the self-driving car a huge opportunity for Hungary's technological development， given that almost all major automotive manufacturers were present in Hungary.
The government is ready to support research and development in this area and to offer the best possible conditions for advances in the field， he said.
Hungary needs to shift to an innovation driven economy which means boosting knowledge-based industry， intensive research and development， and the introduction of new technologies， Varga said. Industry， he added， was one of the most important engines of growth in the Hungarian economy.
The automotive industry accounts for 20.2 percent of the overall foreign direct investment (FDI) in the manufacturing industry and the volume of investments is nearly 3.4 billion euros (about 3.8 billion dollars). It currently employs 144，000 people in Hungary， if suppliers are included.
Hungarian Prime Minister Viktor Orban， who also attended the conference， announced that a new test track would be built in Zalaegerszeg， western Hungary.
According to Orban， the new test track would be an ideal place to test the self-driving cars and related technological systems.
Varga， automotive company heads， and research institutions signed a declaration of intent involving the use of the new， not yet built， test track. The ministry said the signatories planned to cooperate in studying self-driving cars and their systems， including connected-car IT systems， fuel consumption， and real-driving emissions， as well as safety.
Since self-driving cars are highly Internet-dependent， Orban also announced that the government was considering cutting the Value Added Tax (VAT) on Internet services from the current 27 percent. If Gross Domestic Product (GDP) data permits， he said， the tax could be cut to as low as 5 percent， which could be a major boost to the industry.
Speaking for all of Europe， Gunther Oettinger， the European Commissioner for Digital Economy and Society， said Europe needed to take the lead in the digital transformation of industry or lose its competitive edge.
Information technology and software are a critical part of the new industrial revolution， he said， noting the vehicle industry was about to change drastically with the birth of self-driving cars. Not only would it reduce accidents but it would also cut down on traffic jams and carbon emissions.
BEIJING Women's Samaje Perine Jersey , Oct. 27 (Xinhua) -- China's major industrial firms posted faster profit growth in the first three quarters of this year, the National Bureau of Statistics (NBS) said Friday.
Industrial companies with annual revenue of more than 20 million yuan (3 million U.S. dollars) reported profits of 5.58 trillion yuan in the first nine months, up 22.8 percent from a year earlier, the NBS said in a statement.
The growth was faster than the 21.6 percent in the January-August period Women's Fabian Moreau Jersey , and 21.2 percent in the January-July period.
In September alone, profits of major industrial firms rose 27.7 percent year on year, much faster than the 24-percent growth in August and 16.5-percent in July, it said.
Among the 41 industries surveyed Women's Ryan Anderson Jersey , 39 posted year-on-year profit growth in the first three quarters.
Companies in power, liquor, and electronics industries saw rapid growth, together contributing 3.8 percentage points to the uptick in growth pace in September compared with last month.
NBS statistician He Ping attributed the rapid growth partly to faster expansion in both production and sales as well as price increases in industrial products.
In September Women's Jonathan Allen Jersey , China's industrial output rose 6.6 percent year on year, higher than the 6-percent growth in August. Revenue from main business of industrial firms rose 10.8 percent, also higher than the rate registered a month ago.
China's producer price index (PPI), which measures costs of goods at the factory gate Deshazor Everett Jersey , rose 6.9 percent year on year in September, 0.6 percentage points higher than the August level.
The price rebound has added some 652.6 billion yuan to the operating income of industrial firms, resulting in a net increase of 136.2 billion yuan in profits after costs were deducted.
He also said that profitability of the companies has improved with lower costs and expenses. In the first nine months, costs per 100 yuan of revenue dropped 0.23 yuan from the same period last year Rob Kelley Jersey , while expenses per 100 yuan of revenue also went down 0.27 yuan.
The leverage ratio, a measure of financial risks, also went down amid the government's ongoing deleveraging efforts. By the end of September, the debt-asset ratio of the firms dropped 0.6 percentage points from a year ago to 55.7 percent.
Xi Jinping Zach Brown Jersey , general secretary of the Central Committee of the Communist Party of China (CPC), speaks when meeting the press at the Great Hall of the People in Beijing, capital of China, Oct. 25 D.J. Swearinger Jersey , 2017. Xi Jinping and the other newly-elected members of the Standing Committee of the Political Bureau of the 19th CPC Central Committee Li Keqiang, Li Zhanshu, Wang Yang, Wang Huning Stacy McGee Jersey , Zhao Leji and Han Zheng met the press on Wednesday. (XinhuaXie Huanchi)
BEIJING, Oct. 25 (Xinhua) -- Soon after being re-elected general secretary of the Central Committee of the Communist Party of China (CPC), Xi Jinping on Wednesday presented the new CPC central leadership to the press and laid down a roadmap for the next five years.
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