Archive April 2019

ledges at forum draw overseas experts’ praise

The international community has hailed President Xi Jinping’s call on Friday to ease mar

ket access for foreign capital and increase imports so that opening-up reaches a higher level.

Xi said in his keynote speech at the opening ceremony of the

Second Belt and Road Forum for International Cooperation in Beijing that the purpose of bu

ilding the Belt and Road is to achieve win-win cooperation and common development.

China will increase its imports of goods and services and will further lower its tariff rates, Xi said.

Francis Chua, chairman emeritus of the Philippine Chamber of Comm

erce and Industry, noted Xi’s emphasis on quality imports and state-of-the-art products.

“China will keep its commitments,” said Chua, who was attending the forum as a member of the Philippine business delegation.

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This quarter’s data show that China is avoiding this

The consumer inflation rate was 1.8 percent year-on-year and produce

r prices went up only 0.2 percent. A standard rule of thumb used by central bankers wor

ldwide is that the inflation rate should be targeted at about 2 percent per year

. This rule is actually built in to the mandate of the European Central Bank. So, the stable monetary policy of the Peop

le’s Bank of China, the nation’s central bank, is working.

The March unemployment rate in urban areas was 5.

2 percent, slightly below the level last year. Most economists define “full employ

ment” as anything below 6 percent, so we are not seeing significant pro

blematic unemployment even during a period of major economic transformation.

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The zone is located in a labor-intensive area in Cambodi

 which means the project will provide a large number of jobs to lo

cal communities,” he said. “It is expected that up to 100,000 to 200,000 locals will be d

rawn to the new economic zone after its completion. They will rise out of poverty by working in this zone.”

The project will be beneficial to both China and Cambodia, Qian said.

“Many Chinese companies go overseas to expand their businesses. However, because of a la

ck of experience and related knowledge, most of them face huge obstacles abroad,” he said. “Our company has done overseas business for mo

re than 40 years and will provide a familiar business environment for other Chinese companies in the new economic zone.”

Some Chinese companies have decided to join the investment in the ne

w Cambodia project, Qian said, adding that in his opinion, a company should follow the nati

onal policy and direction such as Belt and Road Initiative while being profitable at the same time.

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Benat opened the scoring for the home side with a

spectacular 41st minute free kick, but Borja Baston equalized four minutes later in a game in which both teams looked flat in their third game in seven days.

Leganes and Celta Vigo drew 0-0, which draws Celta a point closer to

survival and means they remain unbeaten since Iago Aspas returned to the side after injury.

In overseas ventures, insurance gives firms a sure footing

Overseas investment inevitably means risks and uncertainties for Chinese comp

anies, but many have started using insurance services to help control and reduce risks.

“Chinese companies face new situations while investing overseas, namely that global politi

cs and economics have become more complex,” said Wang Tingke, general manager of China Export and Cr

edit Insurance Corporation, or Sinosure, China’s State-funded policy-oriented insurance company.

“So while going abroad, Chinese companies need to i

ncrease their awareness of risks and set up comprehensive risk management systems.”

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A total of about $786 million was poured into the

project, 95 percent of it provided by China through preferential and b

uyers’ loans. China Export and Credit Insurance Corporation, a State-funded policy-oriented i

nsurance company, provided insurance services for the project, which helped the local government sacure $680 milli

on in business loans from Chinese banks, greatly reducing pressure on the project’s financing.

Mozambique’s President, Filipe Jacinto Nyusi, had long nursed ambitions of one day seeing a bridge lin

king Maputo city center and Katembe, and when it was finally opened in November he said it wou

ld greatly facilitate transport and connectivity between Mozambique and other parts of Africa.

Wang said the bridge will give great economic stimulus to Katembe, long underdeveloped because of its poor tran

sport access. It also eases demographic pressures on Maputo, a city with a population of 1.7 million.

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Vision China events have been previously held in B

eijing, Hangzhou, Johannesburg and London. The events have been broadcast live on inter

net and multimedia platforms, reaching an international audience, particularly young people.

This upcoming event will also be broadcast live on the China Daily website and ap

p, as well as China Daily’s account on Sina Weibo, Tencent Video, Toutiao, Bilibili, Facebook and Twitter platforms.

A former Peking University student suspected of killing his mother has been captured after th

ree years on the run, said a Fuzhou Public Security Bureau official on Thursday, Beijing News reported.

Wu Xieyu was caught at Chongqing Jiangbei International Airport when boa

rding a plane on April 21, the newspaper reported, quoting sources close to the police.

The Belt and Road Initiative aims to build the Silk Road Economic Belt and the 21st Century Maritime Silk Road and deliver polici

es, infrastructure, trade, financial and people-to-people connectivity via a new platform for a brighter futur

Man suspected of killing mother arrested after three years on the run

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President Xi invited the world to take part in the Belt

and Road initiative, calling on free and inclusive trade, global cooperation in the spirit of peace and pr

ogress, and the exchange and enhancement of the cultural foundations of human mankind. His rem

arks were very well received by the attending heads of states and other distinguished delegates. He called on the world

to give up on protectionism, nationalism and isolationism. Xi added that the B&R is building bridges to make the world a better place.

We heard from the Chinese president about the me

aning and the importance of the initiative, which is cooperation and benefits for all.

A new law in China about foreign investment opens the do

or for businessmen from outside to come in. It shows that China not only announced the inves

tment but at the same time it shows us how the procedures to continue to develop this initiative.

The initiative is important not only for China but for the world.

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In terms of transportation methods, high-speed train is

 preferred by travelers for the four-day vacation. In most cases, it takes travelers under five hours to get to their destinations.

In addition Shanghai’s Disney theme park, Guangzhou’s Chimelong Safari Park and Cho

ngqing’s Hongyadong were predicted to be the hottest three tourist attractions on the Chinese mainland.

Two thousand years ago, the ancient Silk Road opened the door for Chengdu to connect with th

e rest of the world. Now, fueled by the Belt and Road Initiative, the city again stands at the forefront of ope

ning-up, developing its industries, creating value and making innovations on the global stage.

The first freight train from Luxembourg to Chengdu departed on April 4. The train, branded under the “China Railway Express” bann

er, passed through Germany, Poland, Belarus, Russia and Kazakhstan, and then entered China through the Al

ashankou port in the Xinjiang Uygur autonomous region. The travel time, from start to finish, was 15 days.

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Wang Zhiguo, chairman and president of Shenzhen

 Skyworth-RGB Electronic, a subsidiary of Skyworth Group, said the express helped reduce logistics time by more than 66 percent.

Enticed by the growing influence of China Railway Express on China-Europe trade, more compa

nies have signed agreements with Chengdu to conduct import-export logistics and production capacity coop

eration with Europe. They’ve also reached cooperative intention with local companies in bonded processing and logistics.

That includes electronics giant TCL Corp, Lenovo Group, the world’s

largest manufacturer of personal computers, and AVIC Chengdu Aircraft Industrial Co Ltd.

The production of Skyworth, TCL and electronics company Dell in Chengdu also saw significant growth.

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It’s Xinzhu’s first overseas production base, marking

 the first step of its overseas development.Du Xiaofeng, vice-president of the company, said it aims to serve members of the Commonweal

th of Independent States, the Eurasian Economic Union, and other Middle East and European marke

ts. He said the company will adopt localized management and hire a large number of Belarusian employees.

The company also introduced the core technology for medium- and low-speed maglev traffic system f

rom German company Max Bogl Group and put it into local production. Its production line is expected to be completed in June.

“Our overseas outreach has gradually transformed from technological and academic com

munications to capacity cooperation,” said Hu Jishi, senior counselor and technical director of the company.

More BRI-related countries and companies have found

business potential in Chengdu. The Sino-German small and medium-sized enter

prises cooperative park, Sino-French ecological park, Sino-Italian cultural innovation park, Sino-South Korean innovation and

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