Month: February 2019

The central bank will eliminate that interest rate margin

sooner or later, and guide commercial banks to lower lending rates closer to a market-determined level, Sun said.

“Theoretically, there is room for rate cuts of 1 percentage point,” said Zhang Tao, a

n analyst in the financial market department of China Construction Bank.

China has enacted both monetary and fiscal policies to offset downward pressure on eco

nomic growth this year. Some economists have predicted the growth rate may slip in the first quarter be

low the 6.4 percent of the past three months of 2018 because of factors such as trade tensions.

US Federal Reserve Chairman Jay Powell decided on Jan 30 to shelve a plan to keep raisi

ng interest rates because of possible risks to US growth. The European Central Bank stopped exp

anding quantitative easing and warned about the negative results of Brexit.

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Festival brings to fore importance of demographic data

Spring Festival, celebrating the start of the Chinese Lun

ar New Year, is unique beyond being the most important festival in the world’s most populous country.

Not only is it the longest holiday that most workers in China are entitled to, it also pr

oduces the largest annual human population movement in the world, th

anks to the age-old tradition of family reunions that are at the center of the occasion.

This year, the Year of the Pig, which is strongly believed to be associated with good fortune, has seen hundreds of millions

of workers based in cities and big towns returning to their smaller towns and villages of origin to reunite a

nd feast with their families-including their parents, and, for many, also their spouses and children. The official fo

recast is that this year, nearly 3 billion trips will be generated during the 40-day travel rush from Jan 21 to March 1.

While it might not be so obvious, this huge social phenomenon both shapes and is shaped by the sheer size and dis

tribution of China’s population linked to births, deaths and migration, and the way these three sets of vital events interact.

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Naturalization becomes increasingly popularup quarterfinal

China lost 3-0 to Iran in late January in the Asian Cup quarterfinal, conceding all three goals due to defensive errors. “When you face a strong team like Iran, you

have to avoid making the mistakes. I did not expect we lost the game in this way,” China coach Marcello Lippi said.

With the Olympic qualifying tournament and the 2022 World Cup quali

fying campaign around the corner, China faces an uphill battle with a limited squad.

Hou Sæter’s versatility has been praised by Guo’an head coach, Rog

er Schmidt, who has said the midfielder can play a number of positions across the pitch.

Naturalization has become increasingly popular in international football in recent

years, and has been used by Japan, the Philippines, and AFC Asian Cup holders Qatar.

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Jonathan Choi Koon-shum, chairman of the Chinese Gener

Chamber of Commerce in Hong Kong, said he believes the blueprint will demonstrate ho

w to achieve mutual development without vicious competition among the participating cities.

He also noted that Hong Kong enjoys an advantage in attracting international talent and providing world-class pro

fessional services. That’s what Hong Kong can contribute to the development of the Greater Bay Area, Choi remarked.

Choi’s chamber is one of the leading business chambers in H

ong Kong, with nearly 6,000 members from business and trade circles.

Zhang Mingjie, a professor at the Division of Life Science at the Hong Kong U

niversity of Science and Technology, expressed high expectations for the out

line, saying it would open the door to brighter prospects for Hong Kong’s scientific and technological development.

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Area encompasses Hong Kong and Macao, as well

Stock markets in China edged up on Tuesday as market sentiment was partly boosted by the news about the upcoming Bay Area blueprint.

The benchmark Shanghai Composite Index rose 0.68 percent to close at 2,671.89

points, while the Shenzhen Component Index closed 1.15 percent higher at 8,010.07 points.

Gains were seen across Greater Bay Area-related sectors.

Kaisa Group, which owns lots of land in the bay area, surged 3.5 percent, while Shen

zhen International Holdings and Shenzhen Invest both notched healthy increases.

5G-related stocks were also up as China Tower closed 2.4 percent higher while Yangtze Optical Fibre and Cable climbed 3.5 percent.

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Air NZ flight to Shanghai turns back due to lack of lan

An Air New Zealand flight from Auckland to Shanghai had to turn back midway on Sunday morni

ng after the aircraft was found to be lacking the required permission to land in China’s mainland.

The Boeing 787-9, operating as Flight NZ289, took off from Au

kland, New Zealand, around midnight on Saturday local time but turned back after flying for a

bout 4.5 hours. The flight was scheduled to land at Pudong International Airport at 7:05am Beijing time.

In a short message sent to passengers later, the airline said the “aircraft operating the flight did not have reg

ulatory approval to land in Chinese mainland and was required to return to Auckland.”

The B787-9, the bigger version of the Dreamliner, with the registration ZK-NZQ, has been flying wit

h the airline for five months, but has never landed in the Chinese mainland, according to its flying records.

According to China’s civil aviation regulation, foreign carriers are required to

submit a list of the type, nationality and registration mark of aircraft sch

eduled to land in Chinese mainland to the Civil Aviation Administration of China (CAAC) before operating the flight.

www.weishow.com.cn

China and UK celebrate icebreakers, laud even closer ties

China and the United Kingdom should break the ice of protectionism and build an open an

d inclusive world economy, China’s ambassador to the UK, Liu Xiaoming, said in London on Thursday.

“China will continue to embrace the world with open arms and stands ready to work with oth

er countries. We hope the rest of the world would respond in the same spirit,” he said. “In a time when op

enness and inclusiveness are irreversible, protectionism has no future because it is against the trend of history.”

The remarks were made before 400 business, political, and cultural leaders at

tending a Chinese New Year celebration in London that was hoste

d by The 48 Group Club and the Chinese Chamber of Commerce in Britain.

The year 2018 marked the 65th anniversary of an “ice-breaking trip” to Chi

na in 1953 that was made by a group of farsighted people from the British business community.

ypqsr.cn

Police in Russia have art theftd uncovered in Moscow t

Moscow in January 28 (xinhua) 28 (reporter liu Yang) Russian police annou

nced that it had uncovered in Moscow the day before the national season, denis polyakov gallery of art th

eft, and capture, a 31-year-old male suspect stolen paintings were retrieved intact.

According to local media reports, a famous stolen pain

ting is a famous Russian painter al heap, because of the Cri

mean Mr Petri peak.27, a man from Moscow state column season denis polyakov gallery to remove the m

asterpieces in public, and then quietly left the scene.Gallery announced that the painting was stolen and later the police.

Interior ministry spokesman said irina volk 28, a

suspect in the interior and the federal security service (FSB) were arrested in the raids.The police, ac

cording to his account from Moscow on the outskirts of a construction site to find the stolen paintings of intact.

www.xujiaqing.net.cn

Macao sets election date for members of chief executive e

he election of members of an election committee of the chief executive of China’s Macao Spec

ial Administrative Region (SAR) is scheduled for June 16, the government of the Macao SAR said on Monday.

According to the Basic Law of the Macao SAR, the chief executive, with a five-year te

nure for each term, shall be elected by a broadly representative election com

mittee in accordance with the law and appointed by the central government.

The election committee consists of 400 members from four sectors, including the industrial, commercial and financial sect

or; the cultural, educational, professional and sports sector; and the labor, social services and religion sector.

The committee also includes members of the Legislative Assembly of Macao, Macao dep

uties to the National People’s Congress and members of the National Committee of the Chinese People’s Poli

tical Consultative Conference, and members of local departments and organizations.

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The preferential treatment will target those registered as needy

alf a year, on subsistence allowances or recent graduates from higher educational institutions.

The decision allows provincial-level governments to raise tax relief by 20 percent at most, depending on the needs of the region.

Companies who have hired the needy and paid social insurances for them can also en

joy tax deductions to the tune of 6,000 yuan per person a year for three years.

Local governments at provincial levels can lift tax relief by 30 percent at most according to local conditions.

The tax deduction mainly covers value-added tax, urban maintenance and constru

ction tax, educational surcharge and individual income tax and will be effective from Jan. 1, 2019 to Dec. 31, 2021.

A separate statement, which was jointly issued Saturday by the Ministry of Finance, the State Taxation Administration and the Ministry of Vete

rans, said that self-employed veterans can also enjoy all the preferential treatments.

Companies who have hired veterans can also enjoy tax deduction to the tune of 6,000 yuan per person a year for three ye

ars. Local governments at provincial levels can lift tax relief by 50 percent at most according to local conditions.

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