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In May and June, the ave娱乐地图hly deficit on forex set

 settlement and sales by banks stood at $6.6 billion, down 44 percent from H2 2018, SAFE data showed.

The reading indicated a relatively good supply-demand situation of the forex market, while monthly fluctuations refl娱乐地图

ected the overall stability of market expectations and the market-oriented adjustment of prices, Wang said.

娱乐地图女神会所According to Wang, China’s forex market showed stable sentiment amid trade frictions with the US and the exchanges bet

ween Chinese and American companies are still very close, which is playing a positive role.

“We are confident to cope with the changing situation and maintain the stability of cross-border capital flows in China,” Wang said.娱乐地图女神会所

A national bankruptcy mechanism is under discussion by policymakers, covering local gover

娱乐地图nments and enterprises, to prevent systemic financial risks, said a senior official with the central bank.

“The key task is to prevent debt default risk,” said Wan Cunzhi, director-general of the PBOC’s Credit Information System Bu

reau, at a news conference on Thursday. He said the mechanism will include inde

bted local governments, while market-oriented measures will be introduced to ease their debt burden.娱乐地图女神会所

Bankruptcy of local governments was rarely mentioned in China before, and the official didn’t re

娱乐地图lease more details on the mechanism. It reflected that policymakers have noticed the potential challe

nges and more measures are expected to strengthen financial stability, analysts said. Total local government deb

t reached 19.9 trillion yuan ($2.89 trillion) by May, according to the Ministry of Finance.娱乐地图女神会所

The State Council released a guideline on Tuesday for building a credit-based market regulation system. The bankruptcy mechanism is one part of the who

娱乐地图le system. Besides local government, individuals and enterprises will also be regulated.

Companies with bad credit records will receive serious punishment

, said Lian Weiliang, deputy head of the National Development and Reform Com娱乐地图女神会所

mission. “For the worst scenario, the companies could be prohibited from the market.”

The measures for rating companies’ credit are being drafted, and market-oriented third-part

y institutions and industry associations will be involved in the rating process, according to Lian.

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The US side has conducted a series of negative rheto

ric and actions regarding the Taiwan question, violated the one-

China principle and the three China-US joint communiques,” he said.

“This has undermined China’s sovereignty and security, sent a seriously wrong message to Taiwan secessionists, and

disrupted regional peace and stability,” Shao said, adding that China must, and will be, reunified.

“If anyone tries to separate Taiwan from the mainland, the Chinese

military will adamantly protect its territorial integrity at all costs,” he said.

As for the South China Sea, Shanahan accused China of undermining fr

eedom of navigation and overflight in the region, and militarizing the local islands.

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Accelerating the opening up of China’s commodity futu

ures market will help foreign investors optimize their renminbi-denominated asset portfolios as they can inc

orporate investment targets of a wider variety, said Wang Tingting, an associate pro

fessor of finance with the Central University of Finance and Economics in Beijing.

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures market to foreign invest

ors, as they have large exposure in the A-share market and are therefore in need of this risk management tool.

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tinue to purchase China-made goods if there are no substitut

Research released by the International Monetary Fund on Friday showed that some of these tariffs hav

e been passed on to US consumers, while others have been absorbed by importers leading to lower profit margins.

US restrictions on high-tech exports to China will push up Washington’s trade deficit with China, an

d rising prices could also reverse the low inflation in the US. Meanwhile, any speculative trading on the

Chinese currency amid its depreciation pressure will “inevitably suffer from a huge loss”, Guo said in his speech.

To eliminate bad outcomes from trade tensions, further opening-up in China’s services sec

tor, together with high-tech development supported by artificial intelligence, will help lift Chinese eco

nomic growth from 6.3 percent to around 7 percent by 2035, said Zhu Min, a former deputy managing director at the IMF.

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The IMF report warned that the additional impact of the r

 recent and future tariffs will cut about 0.3 percent of global GDP in the short ter

m, with half stemming from negative effects on business and market confidence.

Failure to resolve the trade differences and further escalation in other areas, such as the auto

industry, which would cover several countries, “could further dent business and financial market se

ntiment, negatively impact emerging market bond spreads and currencies, and slow investment and trade“, the research said.

Experts urged the US government to stop its protectionism and proposed options for a resolution between the two countries.

Chen Wenling, chief economist of the China Center for International Economic Exchanges, said the US needs to correct moves that have

already added pressure to global economic prospects. Otherwise, it will “pay the price” for its protectionist behavior, she said.

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he familiar discrediting of China’s policy toward the

 Uygurs in the Xinjiang Uygur autonomous region.

Which in itself is a worrying development since it may be the start of the US using the domestic affa

irs of other countries as a pretext to stifle the growth of foreign competitors to US companies.

Washington, of course, is trying to put the US on the high moral ground while embedding

its trade frictions with other countries into its political agenda and using its economic policy for its foreign policy aims.

In this way, it is hoping to achieve the colonization of the global

business world, allegedly under the banners of human rights, freedom and democracy.

If Washington really cared about the human rights situation in X

injiang, it would by no means ignore the development of the region. Over the past four

decades, the regions’ economy has increased more than 250 times, and the well-being of the Uygur people h

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A recent report by the Beijing Municipal Education

 Commission said that more than 231,000 college students graduated from universities in

Beijing last year, but 37.5 percent of employed graduates chose to work outside the capital.

A female college student surnamed Zhang said that she chose to w

ork in Wuhan, Hubei province, after graduating from Tsinghua University in June, 2018.

“The biggest reason driving me away from Beijing was the living cost,” she said. “Tho

ugh I can earn 8,000 ($1,160) or even 10,000 yuan a month in Beijing, the rent may cost me 3,000 yuan or more ea

ch month, let alone other expenses such as meals, transportation and getting together with friends.”

In contrast, some so-called new first-tier cities like Chengdu, Sichua

n province; Hangzhou, Zhejiang province; and Wuhan have sprung up as new at

tractions to college graduates for their cheaper living costs and preferential policies to newcomers.

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With its key role in the national economy, the integrated dev

velopment of the region could play a vital part in leading regional growth, the statement said.

It noted that the elevation of the integrated development of the Yangtze River Delta t

o the status of a national strategy is a major decision adopted by the CPC Central Committee.

Authorities in the four provincial areas must enhance their awareness

of integrated development and boost their interaction and cooperation, it added.

The meeting also decided to start a thematic education campaign of Party member

s on the subject of remaining true to the Party’s original aspirations and keeping their mission firmly in mind.

It called for struggles against all problems that affect the Party’s purity and ad

vanced nature, and for efforts to make the Party even stronger, the statement said.

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hina to issue millions of electronic social security cards

hina has planned to issue at least 100 million electronic social security cards in cities acros

s the country this year, according to a recent notice from the Ministry of Human Resources and Social Security.

The notice also shows that China would like to fulfill the full use of the electronic social security cards within three years, form

ing a comprehensive application mode for social security cards for both online and offline purposes.

According to the recent notice, all cities should open mobile payment services for the e-cards.

So far, China has 1.25 billion social security card holders, acc

ounting for 89.6 percent of the total population, according to the MHRSS.

By Jan 23, electronic social security cards were issued in 230 cities in 26 provinces across th

e country, according to data from the ministry. Social security card holders can apply for an e-card through 58 apps.

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The development of winter sports will help meet th

diversified needs of sports fans, which is conducive to soci

al and economic development. Notably, the General Admi

nistration of Sport has issued a document emphasizing the importance of planning in the development of the winter

sports industry. For instance, some departments have made efforts to optimize their resources by building m

ore winter sports venues so they can encourage more people to take up winter sports.

The Beijing municipal government and Hebei provincial gov

ernment have worked out policies to encourage more scho

ol students to play winter sports, and take part in winter sports events on campuses.

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