Month: May 2019
ocal kindergarten had used to ask children whether they we
re involved in gangs went viral on the internet. The local educational bureau said that the rese
arch was meant to stop bullies in kindergartens instead of finding gangster members.
Over 90 percent of Hong Kong college students responding to a survey said they were optimistic about the country’s fut
ure, and more than 80 percent said they would like to work on the mainland according to a report released Wednesday.
The HKUYA Student Exchange Network published the report based on a survey they carrie
d out between February and March on Hong Kong college students’ employment intentions for the mainland.
Nearly 75 percent of respondents said the major reas
on for them to work on the mainland is a plethora of job opportunities.
eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho
ugh it slightly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.
Li Yang, director of the National Institution for Finance and Development of the Chinese Academy
of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de
fend its currency, even if depreciation pressure rises amid any escalation in trade tension.
In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen
t under market pressure as global investors worried about the escalation of trade friction.
Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monday that higher US tariffs on Chin
a’s imports triggered financial market volatility, and this also affected the offshore RMB.
Three officials in Wuxi, East China’s Jiangsu province, have been gi
ven Party and administrative punishments on Thursday over an inappropriate question about
whether kindergarten children were involved in gangs, the local government said on its official Wechat account.
According to the government of Wuxi’s Xishan district, Feng Dongyan, director and Party chief
of the Xishan Education Bureau, has been given the punishment of warning within the Party.
Wang Zhaoyu, director of the educational bureau’s general office, has been given a serious warni
ng within the Party and removed from office. Lu Zhongxian, director of the bureau’s educational equi
pment and student aid management center, was also given a serious warning and dismissed.
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, adding that the capability of dealing with challenges and preventing risks should be intensified.
trade, they could decline by 0.134 percent, 0.323 percent and 0.869 percent. Th
e US tariff hikes therefore will increase the economic pain of the US and world economies.
Agricultural products, chemicals and chemical products, textiles and g
arments are the main US items targeted by China’s higher tariffs. But despite the higher tar
iffs providing some protection for domestic industries, Chinese consumers might have to pay more to purchase them.
In the first four months of this year, the volume of Sino-US trade dropped by 15.7 percent to $161.23 billion. In terms of product
structure, US exports of raw materials and foods to China saw the biggest decline, among which the export of so
ybeans plummeted by half in March compared with the same period last year. And US exports of plant products, mi
nerals, jewelry and precious metals declined by more than 85 percent in the first quarter.