Month: March 2019 (page 1 of 8)
accelerate the process to fully lower the market access threshold for foreign investments in
banking, securities and insurance, the premier said. Service sectors, including medical care and educ
ation, will be opened up along with transportation, infrastructure and energy, he said.
Li said China will further make it easier for foreign companies to set up a venture capital presence and will improve regulati
ons on foreign investors’ strategic investments in listed companies and their mergers with and acquisitions of domestic enterprises.
Also, preferential policies for investments from Hong Kong, Macao and Taiwan w
ill remain unchanged, and greater development opportunities will be offered for them, Li said.
Wang Huiyao, president of the Center for China and Globalizaton, said he was impressed by Li’s speech to cl
ean up rules and regulations inconsistent with the Foreign Investment Law as well as to launch a more streamlined negative list.
“It shows China’s attitude of further opening-up, which is a higher-level and more concrete commitment of China,” he said.
Leif Johansson, chairman of global biopharmaceutical giant AstraZeneca, said
Li’s speech reflects the determination to create a more open, fair and transpare
domestically rated “AAA”, the safest level. The sale to individual investors is mainly of project-link
ed special-purpose bonds, a type of local government bond vigorously promoted by the government in re
cent years. The cash flows generated from the underlying projects will be used as the primary repayment sources.
In China, there are two types of local government bonds: general bonds and special purpose bonds. According to the country’s 2019 budget repor
t, which was approved by the top legislature earlier this month, the budgeted deficit for local governments is 930 billion yuan, up 100 billi
on yuan compared with 2018, and this fund gap will be supplemented by general bonds.
In the meantime, 2.15 trillion yuan of special purpose bonds will be issued to support la
rge infrastructure projects, such as shantytown renovation projects and railways, said the ministry.
Letting individual buyers invest in local government bonds is a way to narrow the government’s financin
g gap, said Hu Yijian, a tax professor at Shanghai University of Finance and Economics. The gap is expected to expand, as policym
akers decided to cut about 2 trillion yuan in taxes and fees this year while at the same time increase spending on investment.
bird’s reproductive system was not behaving normally. The eggshell consists of two layers instea
d of one as in normal, healthy bird eggs, indicating the egg was retained too long inside the abdomen, Bailleul said.
This condition occurs in living birds as a result of stress. Unlaid eggs may be coated with a second laye
r, or sometimes more, of shell. This abnormality has also been documented in sauropod dinosaurs, and in fossil and living turtles.
In addition, the eggshell was extremely thin, thinner than a sheet of paper, and did not have the proportions of a healthy egg, Bailleul said.
hina’s civil aviation regulator has temporarily stopped issuing airworthine
ss certificates for Boeing 737 Max 8s because of safety concerns, a move an expert said will bring huge economic losses to Boeing.
Two Boeing 737 MAX 8s have crashed in the last five months. All 157 pa
ssengers and crew members of a 737 MAX 8 operated by Ethiopian Airlines died on Mar 10, includi
ng eight Chinese nationals. In October, the same model of plane, operated by Lion Air, went down over the Java Sea, killing 189.
inated and inter-connected, and fair and inclusive approach and forge a growth
model of vitality, a cooperation model of openness and win-win results, and a developm
ent model of balance and common benefits, so that people from across the world could share the benefits of economic globalization, Xi said.
This year marks the 70th anniversary of the founding of the People’s Republic of China, Wang said.
During his visit, Xi, based on China’s just-concluded Two Sessions earlier this month, illu
strated to the European leaders the fine performances of the Chinese economy which had overcome multiple challenges in 2018.
Wang said Xi also introduced the newly-adopted foreign investment law, emphasizi
ng that it is necessary to use legal means to better protect intellectual property rights and attract foreign investment.
Xi pointed out that China will continue to push forward all-round reform and opening-up, promote trade and investment
liberalization and facilitation, so that European friends can better share China’s development opportunities.
and greatly improve our work efficiency”, according to a released statement at a news conference held by the administration on Tuesday.
In the past, the residents in Chinese mainland could only apply for permits in their house
hold registration places with relevant documents, including identification card, hukou and application form.
National Immigration Administration holds a press conference on March 26, 2019.
Under the new measure, the residents will provide the same documents to apply for th
e passports and travel permits in their nearby exit and entry management departments, it said.
With the rapid development of China’s economy and society, a growing
number of people have been living, stuadying and working away from their hometown, and th
ere has been a strong demand for them to apply for the passports or travel permits in different places.
Data provided by the National Immigration Administra
tion show, this year, an estimated 21 million people will apply for passports and travel permits in di
trying to foment trouble across the Taiwan Straits. The US has already made a highly provocative move by
introducing the Taiwan Travel Act a year ago, as it allows high-level diplomatic exchanges between the US and the island. And now som
e in the US say Tsai, who doesn’t acknowledge the 1992 Consensus that there is only one China, should be invited to visit the US Congress.
By suggesting such an outrageous idea, these people are playing with fire, because if Tsai were
to visit the US, Sino-US relations would suffer a serious blow, and the security and stability across the Straits would be damaged.
To make matters worse, last week the US and Taiwan announced the launch of a new “dialogue
mechanism” to achieve closer “bilateral cooperation” and to defend and promote “shared values”. Titled
the “Indo-Pacific Democratic Governance Consultations”, the new “dialogue mechanism” is aimed at “exploring” way
s to increase “US-Taiwan exchanges” and pursue joint projects, said Brent Christensen, the highest-ranking US official posted in Taiwan.
inistration put into practice the Taiwan Travel Act and the Asia Reassurance Initiative Act, both passed last year, to fulfill its promise to the Tsai authorities. In their
letter to US President Donald Trump, some Congress members have said the Taiwan Relations Act will help mai
ntain peace, security and stability in the Indo-Pacific region and suppress Beijing’s so-called aggression.
Moreover, to seek the US’ protection and contain Beijing, the Tsai authorities have been hyping up
the island’s strategic value for Washington. But the fact is, the empty promises given by the Congress me
mbers cannot guarantee any safety to the Tsai authorities and, instead, could put them in danger.
Ahead of the 2020 elections on the island, some US Congress members are incitin
g the Tsai authorities to provoke disputes with the mainland by supporting those seeking “Taiwan ind
ependence”. But since any attempt to split Taiwan from the motherland would lead to a conflict, it will be in the interest of neith
er side of the Straits nor the US. Worse, such a conflict would destroy peace and stability in the entire Asia-Pacific region.