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Borrowing costs will get lower for companies in China starting Tuesday through a
key interest rate reform brought out by the People’s Bank of China, the central bank, to maintain ec上海419
onomic momentum amid the continuing trade friction with the United States.
上海419女神会所Analysts say the interest rate reform will lower financing costs for small a
nd private companies and encourage investment in the manufacturing sector.
The PBOC unveiled the policy over the weekend, saying it would introduce a new reference rate, the loan prime rate－the pr上海419
ice of loans banks offer their best clients－for setting the prices of business and household loans. The earlier re
上海419ference rate, the one-year benchmark lending rate, will be replaced in the future.
The announcement is seen as China’s most significant market-based interest rate reform for over a decade, experts said.上海419女神会所
The PBOC said in a statement that, starting Tuesday, 18 qualified commer
cial banks, including State-owned banks, city and rural commercial banks and foreign banks, will report their lend
上海419ing reference rate every month. Analysts expect the first loan prime rate will be much lower than the current 4.35 per
cent one-year benchmark lending rate, which has been unchanged since August 2015.
The statement said commercial banks will be allo上海419
wed to float the lending rates up by certain percentage points above the medium-ter
上海419女神会所m lending facility rate of the central bank. The medium-term lending rate is the cost that commercial banks sho
uld pay for borrowing from the central bank, and it was set at 3.3 percent on Thursday.
Sheng Songcheng, a central bank adviser and former head of the PBOC’s
statistics department, said the reform will help keep lending rates lower.
Moreover, the changes will enable the PBOC to effectively influence Chin上海419女神会所
a’s entire interest rate system by selling or buying financial instruments on the open
market, much like how Western central banks implement monetary policy, Sheng said.
The Commissioner’s Office of China’s Foreign Ministry in Hong Kong has lodged stern representations with US Consu
late General on its officer meeting “Hong Kong Independence” activists, a statement on the office’s website said on Thursday.上海419品茶微信
The statement came after it was reported that an officer at the US Consulate Gene
上海419ral in Hong Kong and Macao held a meeting with major “Hong Kong Independence” activists.
An official at the Commissioner’s Office urgently summoned a senior official at the US Consulate General to lodge stern repres
entations, expressing strong disapproval and firm opposition, and requiring clarification, according to the statement.
The official of the Commissioner’s Office emphasized that China is rock-firm in upholding natio上海419
nal sovereignty and security and Hong Kong’s prosperity and stability, and in opposing any inter
ference in Hong Kong affairs by any country, organization or individual in whatever form, the statement said.
上海419品茶微信We strongly urge the members of the US Consulate General in Hong Kong and Macao to abide by international law and basic
norms governing international relations, including the Vienna Convention on Diplomatic Relations and the
Vienna Convention on Consular Relations, and observe their obligations as consular personnel, said the statement.上海419
They are urged to immediately make a clean break from anti-China forces who stir up tro
uble in Hong Kong, stop sending out wrong signals to violent offenders, refrain from meddling with
上海419品茶微信Hong Kong affairs, and avoid going further down the wrong path, said the statement.
China’s foreign trade of goods rose 4.2 percent year-on-year in the first seven m
onths of this year to 17.41 trillion yuan ($2.49 trillion), customs data showed Thursday.
Exports increased 6.7 percent year-on-year to 9.48 trillion yuan during the period,上海419
while imports grew 1.3 percent to 7.93 trillion yuan, the General Administration of Customs (GAC) said.
China saw its trade surplus widen by 47.4 percent year-on-year to 1.55 trillion yuan during the same period.
上海419品茶微信China’s trade mix continued to optimize with the general trade growing both in volume a
nd proportion in the January-July period. General trade grew 5.7 percent year-on-year and accounted for 5
9.8 percent of the total trade, 0.8 percentage points higher than the same period of last year.
President Xi Jinping has encouraged residents of a mountainous township in Fujian provi
上海419nce to continue their unrelenting efforts to consolidate poverty reduction outcomes and achieve rural vitalization.
Xi, who also is general secretary of the Communist Party of China Central Committee and chairman of the Central Military Co 上海419
mmission, made the remark in a letter replying to residents of the township of Xiadang, in the province’s Shouning county.
上海419In a letter to Xi, the villagers wrote they had shaken off poverty and e
xpressed their gratitude to the CPC Central Committee and the general secretary.
Xi’s letter, published on Tuesday, recalled the three arduous
journeys he made to the township, saying he still has vivid memories of the area. 上海419品茶微信
Xi worked in Fujian between 1985 and 2002. He made his first trip to the township to lea
rn about poverty alleviation and provide instructions on the work on July 19, 1989, when he was Par
ty secretary of Ningde. The township was once among the most remote and poorest areas in Ningde. 上海419
It took him a three-hour car ride and a two-hour walk in scorching sum
mer heat to reach the township, which had no paved roads at the time, according to
Xinhua News Agency. He made another two trips to township, later that year and in 1996. 上海419品茶微信
Xi expressed his delight after learning that the township had shaken off poverty, and he offered hearty congratulations to villagers.
After 30 years of unremitting efforts, Xiadang has shifted from being almost inaccessible to being easily reached and has 上海419
been transformed inside and out, with residents having an increasing sense of gains and happiness, Xi said.
It has been a vivid example of the truth of such sayings as, “A slow sp
上海419品茶微信arrow should make an early start” and “Little strokes fell great oaks”, he said.
Xi said he hopes the villagers will forge ahead with a persistent spirit, enhance their confi
dence and make sustained and arduous efforts to consolidate the outcomes of poverty reduction.
He also encouraged them to explore a path of rural vitalization with the characteristics of eastern Fujian during the process. 上海419品茶微信
The letter to Xi was written by six Party members on behalf of all villagers in the township.
Xinhua contributed to this story.
Countries sign deals for cooperation during prince’s visit to Beijing
上海419品茶微信President Xi Jinping called on Monday for joint efforts with the United Arab Emirates to accelerate the high-quality b
uilding of the Belt and Road, as the two countries signed a number of landmark programs for bilateral cooperation.上海419
Xi made the remark during a meeting with Abu Dhabi Crown Prince Sh
上海419品茶微信eikh Mohammed bin Zayed Al Nahyan, who is visiting China from Sunday to Tuesday.
China and the UAE should work toward increasing bilateral trade volume to $200 billion by 2030, and expand long-term, stea
dy and comprehensive strategic cooperation in the energy sector, Xi said. In 2018, trade between the two countries rea上海419
ched $45.9 billion, which was up by 12 percent from the previous year, according to the Ministry of Foreign Affairs.
上海419品茶微信China will offer support to the Arab state in opening Chinese classes in 200 schools, Xi said.
After their talks, the two leaders witnessed a ceremony for the exchange of cooperative agreements in areas such as environ上海419
mental protection, artificial intelligence and the peaceful use of nuclear energy. The two countries will con
上海419duct Belt and Road cooperation in production capacity, investment and financing in the Middle East and North Africa.
Recalling his visit to the UAE last July, Xi said the establishment of the bilateral compr
ehensive strategic partnership last year opened a new chapter for the joint progress of both countries.上海419品茶微信
He urged deeper strategic mutual trust and strategic cooperation, saying that Chin
上海419a sees the UAE as an important strategic cooperative partner in the Middle East.
China stands ready to step up coordination with the Arab state in firmly safeguarding the interna
tional system with the United Nations at its core and international order based on international law, Xi said.上海419品茶微信
Both sides should uphold multilateralism, fairness and justice and promote the building of a community with a shared
future for mankind, he added. He called for enhanced bilateral cooperation on counterterrorism and security.
ocation after following the monk’s instructions. When the monk died a few days later, man
y people attributed the cause of death to him revealing the secret location of the dragon’s abode.上海419
“I hope that my photos can stir people’s imagination. The thing about Instagram is that peopl
上海419女神会所e view your photo for only a second before swiping to the next one on their feed. I want my photos to be those wher
e people can stop and wonder. I think my best pictures have this quality,” he says, referring to the image.上海419
While dramatic night shots like this particular image of the highway account for a con
上海419女神会所siderable portion of his works, Siegemund says that night shoots take place out of necessity.
“If you look at the trend of shooting night urban images, it’s really because most of the
photographers have day jobs. They can only shoot at night after work,” he says.上海419
“Photography is still more like a hobby to me. I like being behind a desk doing architectu
上海419女神会所re work. I like being able to choose what photography projects I want to embark on.”
he fifth China Children’s Book Expo (CCBE), taking place in Beijing’s Cultural Palace of
Nationalities through July 23, explores new ways of introducing literature to the young in China.上海419
This year marks the 70th anniversary of the founding of the People’s Republic of China. In response to a call from the Com
上海419女神会所munist Party of China (CPC) Central Committee, the CCBE aims to promote to the Chinese public.
Hosted by the Xicheng district government in Beijing and the Publishers Association of China, the expo focuses on the in
ternational exchange of children’s books. It gathers works from major publishing houses abroad and in China, th上海419
rough a variety of activities, to open up the world of literature and illustrations to children.
上海419女神会所Siegemund adds that he expects himself to be working in the architecture field for th
e foreseeable future. Shanghai, too, will also remain his home for the coming decade.
“I can imagine staying here for another eight to 10 years. The problem上海419
with Europe is that people deliberate too much. Things move so slowly. To decide o
上海419女神会所n something takes such a long time that so many things already pass,” he explains.
“Here in Shanghai, something new is always happening. Things are always cha
nging. I also like how the Chinese learn by mistakes. They dare to try and fail. Th上海419女神会所
is kind of attitude is good and will help the country forge a better future. You can build your dreams here.”
hina will intensify efforts to make its hog farming sector safer and ensure stable supplies after the industry has
上海419been seriously affected by African swine fever outbreaks, the Ministry of Agriculture and Rural Affairs said on Thursday.
“We will place equal importance on disease prevention and control and on pork output to st
abilize hog production and try to guarantee market supplies,” Vice-Minister of Agriculture and Rural Af上海419
fairs Yu Kangzhen said at a news conference organized by the State Council Information Office.上海419
Yu was elaborating on a guideline released by the State Council on Wednesday regarding intensifying prevention and control of African swine fever.
Outbreaks of the fever have been effectively contained in China in recent months following strict controls and prevent
上海419品茶微信ion efforts taken since early August after the first domestic outbreak of the disease was reported. But the co
untry still faces severe challenges in the disease’s prevention and control, and sustained efforts are needed, he said.
Yang Zhenhai, chief of the ministry’s Animal Husbandry and Veterinary Medicine Bureau, said monit上海419
oring has shown the number of live hogs in China fell by nearly 23 percent year-on-year in May due to the outbreaks.
The ministry will work with related authorities to urge local governments to implement policies and m上海419品茶微信
easures designed to support hog raising, including offering preferable loans to hog farmers and cash subsidies to those wh
上海419ose animals were slaughtered due to swine fever prevention and control measures, he said.
The authorities will encourage hog farmers to replenish stock and organize technicians to hel
p them solve problems in hog raising. Meanwhile, the ministry will guide local authorities to help hog fa上海419品茶微信
rms improve waste treatment facilities, and prevent them上海419
The ministry will also support cross-regional transport of pork to replace transport of live pigs－which is still co
mmon practice in many places－to reduce the chance of the spread of disease, Yang said.上海419品茶微信
As of Wednesday, Yu said, 143 swine fever outbreaks had been reported in China, 44 of them this year. To prevent it spre
ading, nearly 1.2 million hogs were slaughtered. Quarantine measures have been lifted in 25 provincial areas, he added.
“In general, the frequency of swine fever outbreaks has noticeably decreased, and hog p
roduction, transport and distribution are gradually being restored,” Yu said.
University, said, “Although the DMZ meeting has created significant momentum that will help restart a change on the Korean Peninsula, as sanctions will remain in place, chances are
上海419品茶微信not high that the meeting will lead to a major change in the short-term trajectory of denuclearizing the peninsula.”
One of the most encouraging signs that emerged from the meeting between President Xi Jinpi
ng and US President Donald Trump on the sidelines of the G20 Summit in Osaka on Saturday was the s 上海419
oftening of Trump’s stance on the sanctions the US administration had imposed on Chinese telecommunications equi
pment provider Huawei. Trump said US companies can continue selling telecom components to Huawei. 上海419
If US companies indeed continue selling telecom components to Huawei, it will come as a big relief to the world at a time when th
e international community fears the “technology decoupling” of world’s largest and second-largest economies could u 上海419品茶微信
ndermine global technological development, especially the commercialization of 5G technology, in which Huawei is a leading global player.
Previously the US administration was reportedly mulling banning 5G telecom equipment designed and manufactured in China, includin 上海419
g those made by multinational companies such as Ericsson and Nokia, from the US market.
The fact is, as a global leader in 5G, Hu
上海419品茶微信awei is too big to fail. After the US administration banned American companies from selling chips to Huawei an
d other Chinese companies, Silicon Valley has suffered as much, if not more than, Huawei. Besides, some companies co
ntinued to supply chips to Huawei via their overseas branches in order to avoid violating the US ban. 上海419品茶微信
Hopefully, the Xi-Trump meeting and the likely resumption of trade talks between China and the U
S will prompt Washington to adopt a consistent and the right approach toward Chinese high-tech co
mpanies, not least because China tends to treat all companies, domestic as well as foreign, equally. 上海419品茶微信
For example, with research and development centers and manufacturing bases in China, Er
icsson and Nokia have won big contracts in the just launched bid for 5G network devices. These companies hav
e been supplying to markets and serving telecom operators and enterprises across the globe, by capi
talizing on China’s skilled workforce, world-class infrastructure and complete industrial chain.
Yet, if the US does not lift the ban, such companies would have to endure higher production co
sts. They could even be forced to transfer their businesses out of China, although both Ericsson and Nokia cl
aim they can operate production bases in other countries despite the higher costs, due to the flexible supply chain.
An increasing number of small and medium-sized enterprises are stepping outside of
上海419女神会所their own countries and regions to reach global markets with the help of an imp
ortant annual fair in Guangzhou, capital of South China’s Guangdong province.
The China International SME Fair – which has focused on establishing a platfor上海419
m for displays of transactions, exchanges and cooperation among SMEs around the world since 2004 – will be
held from Oct 10-13 in Poly World Trade Expo Center this year, according to the event’s organizer.
SMEs take a bow at globally important Guangzhou fair
“We have designed a series of activities to bring substantial benefits and business opportuni上海419女神会所
ties to international SME exhibitors, so that they can better participate in the industri
al and economic chains of the world,” said He Zuoxian, deputy director-general of the Guan
gdong SME Bureau and director-general of the China International SME Fair Bureau上海419.
He, speaking at a media briefing on Tuesday, said activities at the fair would i上海419
nclude cross-border business matchmaking events, a promotional tour along the Belt and Road countries and regions, investment and funds sourcing promotions especially for overseas delegations, as well as procurement meetings.
上海419女神会所So far, delegations from 28 countries, regions and international organizations have confirmed they are attending, with reservations for almost 1,100 stands – accounting for about 45 percent of all booths at the October fair, according to the organizer.
The United Arab Emirates is the co-host country of the fair for the first time, said He, bringing the total number of foreign co-hosts to 18 since the show was launched.上海419女神会所
The UAE delegation will comprise some 75 SMEs from a broad range of sectors: agriproducts, trade and retail, innovation, technology, hospitality, industries and manufacturing. These will cover a total exhibition area of 800 square meters, said Rahma Alshamsi, UAE consul general in Guangzhou.
A number of countries – including Bulgaria, Mexico, Brazil, the Philippines, Laos and Myanmar – have shown great interest in co-hosting the fair in the future and will hold talks with the organizers during the event, He said.
Meanwhile, the United Nations Industrial Development Organization, which co-hosted the fair last year, has agreed to take the role for the next five years starting from this year. He said the move would give impetus to the consistent development of SMEs across the globe.
Zhang Linhe, head of the business unit in the Ofice of Japan External Organization in Gua
ngzhou, told the briefing that 29 companies from a variety of industries – including food, beauty products, fashion and
metalware – would join the Japanese delegation. Zhang said 17 of these are new to the event.