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An oft-asserted critique is that China's SOEs have a lower return on capital than private companies do, implying that the SOEs use resources less efficiently. It's true that the return on assets in the private sector was 7.6 percent versus 3.3 percent for SOEs in 2019, according to the National Bureau of Statistics. But the claim that this implies that these lower capital returns reflect poor efficiency is simply an inaccurate interpretation of economic theory.

An unnamed ROK's military official was quoted by Yonhap news agency as saying the drills, which began on Monday, would not be officially called the ROK-US joint military exercises, noting that the announcement on the joint military drills would be made later this week.

An order for flowers is placed through a WeChat app. [Photo/Xinhua]

An said Geely has already established a strong supply chain network for the production and development of new energy vehicles.

Analysts attributed the major decline in the Canadian gas rig counts to the very low gas prices on the Canadian natural gas spot market. The natural gas producers prefer curtailing their production rather than increasing in the current depressed market.