ng should be leveraged to improve coordination mechanisms for economic policies such as finance, currency, employment, industry, and regional develop ment to ensure the nation’s economic development stays within a reasonable range, the statement said. The meeting highlighted the importance of strengthening innovative cap abilities as well as opening-up and cooperation in this regard, and called for improving the serv ices and environment for opening-up and cooperation so that development is promoted through opening-up, inn ovation is advanced through reforms and win-win results are achieved through cooperation, it said. Tough and newly emerging problems should be resolved through deepening reforms, the state ment said, addingRead More →

roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said. Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday. Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing hua University, said China “should be more confident” in accelerating opening-up ofRead More →

Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit. To make up for the increasing savings gap, the US needs to introduce and use more foreign ca pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict theRead More →

 companies, Lu said that as for foreign enterprises operating in Chi na, there is no need for them to worry as long as their businesses are law-abiding. S President Donald Trump issued an executive order on Wednesd ay in which he declared a national economic emergency and banned the technology and services of “foreign adversaries” deemed to pose “unacceptable risks” to US national security. The US intention is so obvious that media outlets around the world have without exception interpr eted this as targeting Huawei, by excluding the Chinese telecommunications giant from US networks. Washington has repeatedly claimed that Huawei’s equipment poses a security threat,Read More →

essure, and psychological experts say that thinking of nothing is a mental adjustment for people, which is good for health as it can reduce the risk of anxiety and depression by 25 percent, according to Workers’ Daily. If people can’t manage their emotions effectively under high pressure, it will harm their family life, work and social life, experts say. The suggestion sparked reaction from netizens, with Sina Weibo user Happy little witch123 asking, “Is it ok if I accumulate the daily five minutes and me ditate a hour on one day?” A WeChat user named yuenyuen said, “I’m not bragging but I can meditate forRead More →

gion must focus on the key elements of greater integration and high-quality developmen t to lead the growth of the whole Yangtze River Economic Belt and East China, the statement said. The meeting called for better awareness of integrated development and putting the region’s growt h into the perspective of a unified strategy, as well as the development of a modern economic system. It also required adequate coordination and implementation to ensure the effective implementation of various tasks in the plan. The delta region, including Shanghai and Jiangsu, Zhejiang and Anhui provinces, is among the areas with the most robust econ omic growth, the highestRead More →

More efforts are needed to make breakthroughs in core technologies, advance infor mation infrastructure construction and provide further impetus to the digital transformation of ind ustries, said a senior official at the Second Digital China Summit, which opened in Fuzhou, Fujian province, on Monday. Huang Kunming, a member of the Political Bureau of the Communist Party of China Central Committee and head of the Pu blicity Department of the CPC Central Committee, called for more work to accelerate the research and de velopment of 5G, as well as promote the building and application of the Beidou Navigation Satellite System. Huang said achieving breakthroughs in coreRead More →

The call made by Xi Jinping, general secretary of the Communist Party of China Central Committee, for more study of the May Fourth Movement, will help younger generations better understand the value of its spirit, observers said. Xi underlined the need to strengthen studies of the May Fourth Move ment and its spirit during a speech at the group study session of the Political Bureau of the C PC Central Committee on Friday, according to a news release issued on Saturday. This year is the 100th anniversary of the movement launch ed by young intellectuals and participated in by people from all walks of life.Read More →

orities have responded to the slowdown in 2018 by limiting the e xtent of financial regulatory tightening, injecting liquidity through cu ts in the reserve requirement ratio, and reducing personal income taxes and corporate value-added taxes. The overall outlook for emerging Asian economies rem ains favorable, with China’s growth projected to slow gradually towa rd sustainable levels. It predicts the country’s growth will moderate to 6.1 percent in 2020. “China’s growth is set to stabilize,” said Cheng Shi, chief economist at ICBC International. “As China increased its growth stabilization policy efforts, its economy has shown sig ns of stability in the first quarter and mayRead More →

 land and talent recruitment to attract companies and people engaged in high-end industries to settle down in the city, he added. Furthermore, Beijing will guide districts to cultivate different industries to avoid repetition and overlap. Beijing’s Haidian district focuses on high-tech development and innovation. It realized a GDP of 648 billi on yuan ($96 billion) in 2018, eight times the average district’s level in the city. GDP per capita in the district reached $28,000, or eight times the standard of moderately developed countries. At present, the tertiary sector has become the biggest contributor to Haidian’s economy, whic h now makes up around 90 percent ofRead More →