Category: 上海龙凤1314

in the first seven mon 上海龙凤1314Given the widenin

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ing gap between increased spending and the slower expansion of income, some local governments, especially at the co

unty level, are facing fiscal pressure. But the central government will transfer more funds to local go 上海龙凤1314女神会所

vernments to ensure stable fiscal spending and further implement tax and fee cuts, the ministry said.

 上海龙凤1314By the end of July, local governments had issued 2.55 trillion yuan in new b

onds for the year, accounting for 82.8 percent of the annual quota of 3.08 trillion yuan.

A quota of 2.15 trillion yuan for local governments’ special bonds-mainly meant to s 上海龙凤1314

upport infrastructure projects-had been 65 percent used up by the end of July, the Ministry of Finance said.

Market speculation is that there will be additional bond quota space to bolster fiscal spending in coming months. But a seni 上海龙凤1314女神会所

or official at the Financial Department of the Ministry of Finance said in an interview this week: “It is unlik

 上海龙凤1314ely that the government will raise the quota for local government bonds, or for the special bonds.”

Local government special bonds are seen as an important measur

e to support infrastructure investment, and they also are not included in local 上海龙凤1314

budgeted debt. The annual quota was set by the Government Work Report in March.

About 1.55 trillion yuan in local government special bonds had been iss 上海龙凤1314女神会所

ued in the first half, the Ministry of Finance said. The remaining 600 billion yuan

issuance must be finished by September-a State Council requirement to speed financing for key projects.

China should have an expansionary and much stronger fiscal policy in order to inc 上海龙凤1314

rease public spending and prevent a further slowing of economic growth, said Yu Yo

ngding, a senior economist at the Chinese Academy of Social Sciences. Yu spoke at a recent forum.

The fiscal deficit ratio, which may surpass the government target of 2.8 per 上海龙凤1314女神会所

cent of GDP this year, should be compensated by issuing more central government

bonds, said Yu, who also suggested the central bank lower interest rates for the bond issuance.

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When asked if China will stop exporting rare earth mat

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aterials to the US, Gao Feng, the ministry’s spokesman, said China

has been the world’s largest supplier of rare earth materials and has always been keen to m

eet the demand of its trade partners on this material to promote the rare earth industry.

The ministry made the remarks after the Trump administration starting May 10 raised tariffs on Chinese goods and rest

ricted Huawei’s business operations, which has harmed the interests of companies and financial markets on both sides.

“While satisfying domestic demand, China is always willing to fulfill other coun

tries’ rightful needs for rare earth materials,” he said. “But if any country plans to use the rare earth materials that Ch

ina exports to make products that will suppress China’s development, it is not acceptable.”

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Tariffs pose threat to global industrial chains, official says

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The tariff increases that the United States has placed on Chinese goods affect not only the interests of Chinese companies and consumers, but also their US cou

nterparts and threaten the security of global industrial and supply chains, according to a senior Chinese industrial official.

“We once again urge the US to stop unreasonably suppressing Chin

ese companies. Chinese companies deserve to invest and operate in a fair and just en

vironment in the US and the world,” Vice-Minister of Industry and Information Technology Wang Zhijun said.

Concerning the US decision to further increase tariffs on Chinese imports, Wang s

aid during a recent interview with news media that the total impact is “controllable”.

The nearly $200 billion of Chinese goods hit by additional US tariffs on May 10 acco

unted for 41.8 percent of China’s US exports in 2018, or 8 percent of its total exports.

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Disaster-proofing the world’s largest infrastructure ini

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nitiative is a challenge, but achievable,” she said, adding that at the heart of this challenge lies great potenti

al for innovation and creativity, such as new disaster risk prediction and analysis, and disaster-resilient infrastructures.

Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said dis

aster risk reduction of natural hazards along the initiative is crucial for its success and sustainability.

Regions at the heart of the initiative, such as the Tianshan-Pamir Platea

u, the Himalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serio

us disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.

Henrik Slotte, a senior disaster management expert from the UN Environm

ent Program, said poorly managed infrastructure projects can damage the ecosystem.

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Ministry: No winners in China-US trade wartrade war, and C

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There is no winner in a trade war, and China hopes to solve the issue through dialogue rather than unilateral mea

sures, said Gao Feng, Commerce Ministry spokesperson at a news conference on Thursday.

The two countries should meet each other halfway and resolve problems through cooperation and discussion, Gao said.

Qin Guangrong, former Party chief of southwest China’s Yunnan Province, is being investigated for suspe

cted serious violations of Party disciplinary rules and laws, according to the country’s top anti-graft body Thursday.

Qin is being investigated by the Communist Party of China Central Com

mission for Discipline Inspection and the National Supervisory Commission.

He voluntarily surrendered.The peaceful resolution of Sino-US tra

de tensions is the expectation of the whole world, the spokesman added.

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He is scheduled to meet with European Council Presi

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sident Donald Tusk and European Commission President Jean-Claude Juncker on Tuesday at the European Union headquarters in the Belgian capital.

The leaders of the two sides will exchange views on China-EU relations and major international

and regional issues of common concern. A number of agreements are to be signed after that.

This is Li’s fifth time attending the China-EU leaders’ meeting as prem

ier, and his sixth visit to a Central and Eastern European nation to attend the China-CEEC

meeting, with the previous five being in Romania, Serbia, Latvia, Hungary and Bulgaria.

Vice-Foreign Minister Wang Chao, who oversees China’s relations with EU

nations, said at a briefing last week that the EU is a highly integrated regional bloc an

d a vital strategic force in the international community. China and the EU share broad com

mon interests in pragmatic cooperation and have a common stance regarding multilateralism and free trade, he said.

The EU has been China’s biggest trading partner for 15 consecutive years and Chin

a is the regional bloc’s second-largest trading partner after the United States, with bilater

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First, what does “poverty” mean in China today? People

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whose annual net income was less than 200 yuan ($30) were defined as living below the p

overty line in China in 1985. The line was raised to less than 2,300 yuan by 2011.

Second, how are policies designed to help the poorest people? Chinese policies aim to give the poor a roof over their heads, guarantee

food, clothing and basic medical services, and provide their children with nine years of compulsory education.

Funds and resources have been made available for agricultural subsidies and cheap loans to rural far

mers. Funds also went into rural revitalization, to integrate regional development and build infrast

ructure connecting villages to markets so that farmers could sell their products more easily. Villagers have been enco

uraged to be innovative, with incentives and loans for them to become self-employed and to set up micro-businesses.

Moreover, teams of officials have been traveling to faraway and isolated rural areas to help individual

s and families with individualized plans that target specific problems, such as whether there is ill

ness or disability in the household. In other words, China has not taken a “one-size-fits-all” approach for the tough cases.

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But one of the first things taught to economics gradu

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 students, even back in my day, is to be wary of the perils of data mining. And the middle-income tra

p is a classic example of the pitfalls of endless number crunching. Give me a database and a po

werful computer, and I can “validate” almost any economic relationship masquerading as an analytical co

njecture. There are five key reasons to dismiss the widespread diagnosis that China is ensnared in the middle-income trap.

First, a middle-income trap may not even exist. That is the conclusion of a rigorous empirical stud

y by Lant Pritchett and Lawrence Summers that covers a broad cross section of 125 economies from 1950 to 20

10. The best they could come up with is a strong tendency for growth discontinuities and mean reversion. At the recent China Development Forum in Be

ijing, Summers went further in assessing likely outcomes in rapidly growing developing economies, dubbing any

mean-reverting slowdown as merely a tendency to close a “post-miracle gap”. Needless to say, the statistical regularity of s

uch periodic growth gaps is very different from the permanent quagmire of a growth trap.

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May has come under intense pressure to quit the prime minis

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 minister’s post as the price of winning support for the deal.

At a meeting Sunday at the prime minister’s country retreat, Chequers,

prominent Brexiteers told May they might back the deal — if she agreed to step d

own so a new leader could take charge of the next phase of negotiations, which will

settle Britain’s future relations with the EU.

Former Foreign Secretary Boris Johnson, who attended the meeting and is likely to be a conten

der in any future Conservative leadership race, accused the government

of lacking “gumption” and chickening out on delivering Brexit.

Britaina’s best-selling newspaper, The Sun, put a call on its front page for the

prime minister to resign under the headline “Time’s up, Theresa.”

May is hanging on, hoping she can persuade Brexit-backing lawmakers that

rejecting her deal means Britain may never leave the EU.

She told lawmakers that Britain would not leave the EU without a deal unless

Parliament — which has already rejected the idea — voted for it.

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Before the start of the China Cup, Cannavaro said that fans

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 and media need to focus on long term development of Chinese soccer instead of what happens at the tournament.

“It’s like building a house-the first job is to build a solid foundation,” he said

“Based on that, we can have success. Compared to Japan and South Korea, their plans started decades ago.

“They are 20 to 25 years ahead of China in terms of their soccer development.”

Another factor was that Cannavaro did not recall China’s best striker, Wu Lei, who is now playing for Espanyol in La Liga.

Other experienced veterans, such as captain Zheng Zhi, were passed over in order to make way for younger players.

Cannavaro said he sought out the opinion of Lippi, who now serves as an adviser, including player selection.

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