Jo

PBOC interest rate refo上海419 small businesses

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.

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Led by Vice-Premier Hu上海楼凤the group will be

 composed of six deputy group leaders and members from State Council departments and bureaus.

The office of the working group is to be located at the Ministry of Human Resources and Social Security, which will上海楼凤女神会所

be in charge of the regular work, and meetings will be convened from time to time as needed.

Beijing has unveiled a three-year action plan to further reform and expa上海楼凤

nd the city’s service industry, the municipal commerce bureau said on Aug 15.

上海楼凤The plan came up with 190 specific measures to open wider in eight fields in the service sector, including science and tech

nology, internet information, finance, education, cultural tourism, health care and professional services.

New measures will be taken in the professional service field to stre上海楼凤女神会所

ngthen international cooperation of professional service organizations such as law firms.

By easing restrictions and allowing wider market access for overseas investors, Beijing

has seen a growing number of new foreign businesses settled, including Toyota Fina上海楼凤

ncial Services and BMW’s new subsidiary for digital solutions, said Yan Ligang, head of the bureau.

The city’s actual use of foreign capital was $8.59 billion in the first half of 2019, with 755 fo

上海楼凤女神会所reign — funded enterprises set up. The added value of the service industry made up 82.8 percent of the city’s GDP.

The growth rate of the government’s fiscal income slipped to 3.1 percent in the year’s first seven months, the slowest in four years.

But moderation in fiscal income will not weaken authorities’ capacity for expa上海楼凤

nsion of fiscal spending in the second half to back economic growth, economists said.

On Friday, the Ministry of Finance reported 12.56 trillion yuan ($1.78 tr

illion) in fiscal revenue in the first seven months, representing a year-on-year g上海楼凤女神会所

rowth rate of 3.1 percent. That’s down from a 3.4 percent growth rate in the first half of the year.

Fiscal spending grew 9.9 percent from a year earlier to 13.8 trillion yuan i

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Du Zhixiong, a resear上海会所ural Development

t Institute at the Chinese Academy of Social Sciences, said China

‘s agricultural sector was plagued by inefficient production practices for上海会所品茶微信

many years, while annual output was highly susceptible to changes in climate.

For example, from 1959 to 1961 large parts of the country experienced a severe drought.上海会所

In 1961, the arid conditions reduced the total crop yield by 61 million metric tons, a 30 percent fall from 1958.

Since the early 1980s, the central leadership has attached great significan

上海会所ce to agricultural innovation. In 2015, investment in scientific and technological research reached 55 billion yu

an ($7.8 billion at today’s rates), compared with 720 million yuan in 1978, Du said.

According to the ministry, more than 96 percent of fields dedicated to the cultivation上海会所品茶微信

of major crops, including rice, corn and wheat, are sown with high-yield, resilient species.

上海会所A number of crop-breeding platforms that employ scientifically proven approaches-such as the use of “dwarf-st

erile” wheat, the “super rice” system and hybrid corn breeding-have been established to fast-t

rack improvements in edible crops and ensure the food supply is reliable and safe in the long term.

The wide application of modern farming techniques ha上海会所品茶微信

s also helped farmers to raise yields and reduce damage to the environment.

At present, environmentally friendly methods are used to prevent and control pests on 56.7 mill

ion hectares under cultivation, accounting for 15 percent of the total area affected by such pests.

上海会所Meanwhile, smarter use of pesticides in demonstra

tion areas has reduced the use of chemicals by 20 to 30 percent, the ministry said.

The use of fertilizers has been further contained as a result of a nationwide campaign l上海会所品茶微信

aunched in 2005. It aims to tailor the use of synthesized fertilizers to suit local soil conditions

and improve awareness of the scientific management of fertilizers among farmers.

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For some time上海419论坛specially Kashgar, Hotan

, Aksu prefectures as well as Kizilsu Kirgiz autonomous prefecture in the south, relig

ious extremism has long had a widespread presence. These regions have frequently fallen victim to acts of te上海419论坛女神会所

rrorism, in which large numbers of people were involved with even more having been

affected. The scale of the problem posed a serious challenge to China’s efforts to fight terrorism and extremism.

上海419论坛Extremist forces spread by exploiting people’s religious beliefs through

Xinjiang’s large religious population through deliberate distortion of religious do

trines. They also incited people to overthrow secular governments and establish上海419论坛女神会所

theocratic states. Social and economic development in the region has also suffered as a result, the white paper said.

Addressing both the symptoms and root causes by integrating preventative measures and a forceful response, Xinji

ang has established vocational education and training centers, which offer trainees lessons on standard spo上海419论坛

ken and written Chinese, different laws and vocational skills in accordance with the law, it said.

The white paper said there was no intention to deprive or li

上海419论坛mit the trainees’ right to use and develop the languages of their own ethnic group.

Education and training are not measures to limit or circumscribe freedom of the person as described by some. Rather, it is an

important measure to help trainees break free from ideas of terrorism and religious extremism.上海419论坛女神会所

It is ultimately an attempt to help the trainees to emancipate their minds, improve themselves and th

eir future prospects, the white paper said.

上海419论坛China will have to take necessary countermeasures in response to

the United States government’s proposal to slap an additional 10 percent tariff on $

300 billion worth of Chinese goods, the State Council’s Customs Tariff Commission said.上海419论坛女神会所

Washington’s planned move seriously violates the consensuses reached betwe

en the two countries’ top leaders in previous meetings, and deviates from the right track of

resolving differences through consultations, the commission said in a statement on Thursday.

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new foreign-funded 上海千花坊es were started, the m

With industrial and consumption upgrades, investment in hig

h-tech industries climbed 43.1 percent year-on-year — 29.3 percent of the total FDI — am上海千花坊女神会所

ong which the high-tech service sector gained 97.4 billion yuan in FDI, up 63.2 percent.

上海千花坊Zhang Xiaofan, a partner at Deloitte’s global Chinese services group, said trade tensions between China and the United Sta

tes will not force any country or region to replace China’s position as a key player in the global supply chain.

Because of its members’ different cultures, currencies and po上海千花坊

litical systems, the Association of Southeast Asian Nations cannot match China’s size as a

huge consumption market. Neither can ASEAN members muster as many policy and institutional advantages as Chin

a to fine tune economic structures and fend off potential financial risks, Zhang said.上海千花坊女神会所

China also has a well-developed infrastructure to support the real economy, Zhang added.

Attracted by China’s consumer market driven by an expanding middle-income group

上海千花坊女神会所and fast developing information technology, foreign investment from Germany and the Republic of Korea surg

ed in the first seven months, posting growth rates of 72.4 percent and 69.7 percent year-on-year, respectively.

FDI from the European Union rose 18.3 percent year-on-year, while

FDI from countries participating in the Belt and Road Initiative grew by 5 percent.上海千花坊女神会所

Joerg Wuttke, president of the European Union Chamber of Commerce

in China, said that to prevent risks caused by unilateral actions, China and the Eur上海千花坊

opean Union should further efforts to reach the EU-China comprehensive agreement on invest

ment by 2020, perhaps eyeing a new free trade agreement soon after that.

cn-yongan.com

The Hong Kong Fed上海乌托邦of Journalists also iss

d a condemnation of the incident. It is unacceptable that such atrocious acts happened in

the airport, considered among the most popular with tourists internationally, the federation said.上海乌托邦品茶微信

The Democratic Alliance for the Betterment and Progress of Hong

Kong said what the protestors did to Fu was “lynching” and reckless. It has tainted Hong

上海乌托邦Kong’s reputation in the international community, the city’s largest political party said in a statement.

The Federation of Trade Unions, the city’s largest union, also denounce

d the violence, saying that what protestors did was lawless and in defiance of Hong K上海乌托邦

ong’s rule of law, morals and ethics. They bring shame to Hong Kong, the statement said.

The guide, who has been working in Hong Kong for more than 20 years, said to his know上海乌托邦

ledge that this is the first time the airport has shut down for something other than a natural disaster.

He said his income was affected because a large number of tours had been canceled in recent months.

上海乌托邦He said he was worried that the incident would harm Hong Kong’s image as a tourist d

estination, but that he believes Hong Kong remains a safe city and that the unrest is only temporary.

上海乌托邦品茶微信Li Lei, a 30-year-old traveler from Chengdu who was taking a transfer flight in Hong

Kong to the Maldives, said he slept at the airport last night as his flight was canceled.

“I was angry and worried,” he said. “But Hong Kong belongs to China. Chinese people shall not be afraid of standing on Chinese soil.”上海乌托邦

Vice-Premier Liu He spoke by phone with US Trade Representative Robert Lighthizer and Treasur

y Secretary Steven Mnuchin on Tuesday evening at the request of the US, according to the Ministry of Commerce.

China strongly opposed US plans for an additional 10 percent tariff上海乌托邦品茶微信

on $300 billion worth of Chinese goods originally scheduled to start from Sept 1.

The two parties agreed to speak again via phone within two weeks, the ministry said.上海乌托邦

Liu is also a member of the Political Bureau of the Communist Party of China Centr

al Committee and chief of the Chinese delegation in the China-US comprehensive economic dialogue.上海乌托邦品茶微信

Minister of Commerce Zhong Shan, Governor of the People’s Bank of China Yi Gang, and N

ing Jizhe, deputy head of the National Development and Reform Commission, were on the call.

yt178.cn

Journalist abused at上海419ys he still loves Hong Kong

Global Times journalist Fu Guohao was discharged from a Hong Kong hospital on Wednesday, ha

ving been detained and assaulted by protestors at Hong Kong International Airport for almost an hour la上海419女神会所

te on Tuesday during a sit-in that shut down the airport’s operations for almost two days.

Fu met media after he was discharged from the Princess Margaret Hospital in the New Territories of Hong Kong SAR. Fu上海419

said he did not suffer serious injuries, coming away with just some bruising to his face.

Fu thanked the public for their care and concern, saying he still loves Hong Kong.

上海419Fu was sent to Hong Kong by the Global Times to cover the protests. The mass sit-in

at the airport started on Friday and led the airport to halt operations for two days.

Wearing a yellow press jacket, Fu’s hands and legs were bound while he上海419

was assaulted by a group of protestors who didn’t believe him to be journalist.

Fu was taken away by ambulance early Wednesday morning.

Hours before the assault of Fu, a tourist from Shenzhen, Guangdong province, was上海419女神会所

also detained and assaulted for hours by protestors who had doubts about his identity.

ome journalists tried but were unable to rescue the man, with protestors accusing those journalists of being undercover agents.

上海419The protestors demanded that the journalists produce identity documents to prove that they were reporters.

The man was later rescued after riot police arrived at the airport.

Shortly after Fu was detained and assaulted, Global Times editor-in-chief Hu

Xijin confirmed on his Sina Weibo account that Fu works for the media organization.上海419女神会所

Hu said the protesters’ actions were “shameless” and “cowardly”.

Hu urged protesters, whom he called “mobs”, to respect journalists.上海419

“If these radical protesters in Hong Kong could conduct brutal lynching against jou

rnalists, then you tell me, should we stop calling you mobs, but ‘terrorists’?” Hu asked.

In a letter to Hu, the Hong Kong Association of Media Veterans condemned what happened to Fu at the airport.上海419女神会所

The association, with a membership of more than 1,000 media prof

essionals, said Fu has shown the world how to be a professional reporter.

www.yt178.cn

are dancing is an an上海后花园noyance no more in

The move has impressed many in the neighborhood. A female reside

nt surnamed Wen, owner of a snack counter opposite the square, has witnessed s上海后花园

everal conflicts in the past and said she’s very happy the seniors have solved the problem.

上海后花园女神会所Before the new technology was put into use, some dancers worried whether wearing a headset is harmful to their ears or

whether they could all hear the same music at the same time. They found this wasn’t a problem at all.

Originally a small team with a few dozen people when it was founded nine years ago, the Nanning上海后花园

Dream Team is now a large square dance group with 121 members. Members are from Guangxi, Sh

andong, Chongqing and other places and are all retirees above 50, with the oldest 82 years old.

Their daily hour-long square dances are held from 8-9 pm.上海后花园女神会所

Besides their regular evening dancing, the dancers also enter will provincial dance competitions in Guangxi and travel together.

上海后花园Many Chinese netizens and media accounts have forwarded video of the Nanning Dream Team square dancing w

ith their headsets to support them, thinking it is a practice worth expanding nationwide.

he average income of tourism employees in Hong Kong has slumped by nearly上海后花园女神会所

80 percent year-on-year over the past two months, while more than 10 percent of to

urism employees had zero income, a joint survey by three tourism trade unions in the city found.上海后花园

The results of the survey, which was conducted in early August, were released on Mo

nday. A total of 1,012 workers in Hong Kong’s tourism sector completed the survey questionnaire.上海后花园女神会所

Respondents said that compared with the same period last year, on average, the number of tour groups they received d

ropped more than 70 percent and their earnings were down by about 75 percent since this June. Among them, 40 percent sa

w a fall of more than 90 percent in income and more than 10 percent had no income at all.

leoville-barton.cn

fugitives on class-A wa上海后花园e detainedA total of

of the 50 fugitives suspected of major crimes who are on a class-A wanted notice is

sued by China’s Ministry of Public Security have been detained, the ministry announced Thursday.

Of the 23 detainees, two are suspected of intentional homicide, eight are suspected of gan

g-related and organized crimes, seven are suspected of telecom and online fraud

and five are suspected of other major crimes of fraud, the ministry said at a press conference.上海后花园女神会所

Since the class-A wanted notice was issued on July 24, public security authorities

上海后花园nationwide have taken the highest-level measures of investigation and surveilla

nce on the 50 fugitives, said Jiang Guoli, deputy head of the criminal investigation bureau under the ministry.

He said seven of the fugitives voluntarily turned themselves in to the authorities under the pressure of the law and policies.上海后花园

Two fugitives were arrested by police with the help of tip-offs and thos

上海后花园女神会所e who offered tip-offs will be awarded 200,000 yuan ($28,400), Jiang noted.

The public security authorities are verifying a large number of clues about the fugitives provided by the public, he said.

Jiang stressed that the authorities and the people have the determination and ca上海后花园女神会所

pability to arrest the rest of the fugitives and urged them to surrender for leniency.

Shanghai unveiled a list of cultural activities and tour routes to boost its nighttime economy on Aug 8.上海后花园

A total of 105 scenic spots, art galleries, museums and memorials across the city have taken special me

asures to meet the growing demand for nighttime leisure from both Shanghai residents and to上海后花园女神会所

urists from around the world, according to the municipal culture and tourism bureau.

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Police will strictly enforc上海419ng Kong Special Admi

ministrative Region (HKSAR) government and police have condemned illegal assemblies by protesters in Ko

上海419品茶微信wloon and the New Territories and said that police will strictly enforce the law against all violent and illegal acts.

The HKSAR said on Saturday that protesters who breach the law should be brought to justice, while the police reiter上海419

ated on early Sunday that anyone participating in an unauthorized assembly will be committing an offence.

A large group of protesters gathered in Tai Po on Friday although their request of such an event had been turned down by the police.

上海419品茶微信They damaged public properties and blocked thoroughfares including the K

owloon entrance of the Cross-Harbor Tunnel, and they also set fires in various places.

According to the police, some protesters aimed laser beams at police officers and some even hurled objects and stones at police officers.

After repeated warnin上海419gs, the police dispersed the protesters, sometime using tear gas when necessary.

During the operation, HKSAR police arrested 16 people for unlawful assembly, possession of offe

上海419nsive weapon, assaulting a police officer and obstructing a police officer in the execution of duties.

The International Monetary Fund (IMF) said in a report on Friday that the yuan’s exchange r

ate was “broadly in line with medium-term fundamentals” and China’s central bank “has had little foreign exch上海419品茶微信

ange interventions in recent years”, a conclusion that clarifies China’s innocence from currency manipulation.

The IMF said that the country’s external position in 2018 was “broadly in li

上海419ne with the level consistent with medium-term fundamentals and desirable policies”.

The organization also welcomed China’s efforts to reform its exchange rate regime to make the yuan more fle

xible, according to its report released after its latest Article IV consultation with China that concluded on July 31.上海419品茶微信

The clarification by the IMF indicates that the US Treasury’s reckless claim on Mon

day of China engaging in currency manipulation is nothing but unfounded finger-pointing.

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