Month: April 2019

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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Beijing to enlarge collaborative outreachcorations are pre

Beijing’s municipal government has built bridges between Chinese co

mpanies and countries associated with the Belt and Roa

d Initiative in recent years and plans to enlarge its communication in more fields in the future.

Xiong Jiuling, head of Beijing’s Foreign Affairs Office, said the capital w

ill make greater efforts in nongovernmental exchange programs this year by enh

ancing cooperation in commerce, technology, culture, education and urban management with other nations.

“We will employ better arrangements and methods to coordinat

e different departments to realize our target without increasing government spending,” she said.

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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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Bridge of dreams brings two halves together

It’s so close, and yet it always seemed so far away. To get to the rur

al district just a few hundred meters away on the other side of the bay, locals used to have to ju

mp on a boat or drive about 160 kilometers-part of that journey on dusty, unsealed road.

Now anyone wanting to get from downtown Maputo

, capital of Mozambique, to Katembe, or vice versa, can do so with ease, and in a matter of min

utes, thanks to the longest twin-tower suspension bridge in Africa, that hangs over Maputo Bay.

“Mozambique had long planned to build a bridge linking the north and south of the bay, bu

t nothing came of them because of a lack of financing and technological difficulties,” said Wang Li

jun, vice-president of China Road and Bridge Corporation, which built the bridge.

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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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When they detained him, police found more than 30 ID

It is believed Wu remained in the country for the past three years.

Fuzhou police on March 3, 2016 offered a 50,000 yuan ($7,429.86) reward for

information that may lead to the arrest of Wu Xieyu, wi

th their statement saying Wu, 22 years old at the time, was a suspect in the

murder of his mother, Xie Tianqin.

Xie was found dead on Feb 14, 2016 in

her apartment in the faculty dormitory of a middle school in Fuzhou.

Xie was believed to have been murdered

by her son after they had a confrontation July 11, 2015, according to police sources.

Wu allegedly sealed off the room after the murder, wrapped the corps

e with layers of plastic cloth, and put activated carbon in between to absorb the smell.

He installed CCTV cameras in the room and connected them to his computer.

Wu also managed to borrow more than 1 million yuan in his mother’s name after her death.

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Xi’s speech draws positive reactions at Second Belt and Road

Editor’s note:?President Xi Jinping delivered a keynote speech at the opening ceremony of the Second Belt and Road Forum for International Cooperation in Beijing

on Friday.China is going to open much more as it did before f

or foreign investment, and this is quite important for the whole initiative.

Here is a collection of comments from foreign ministers, delegates, and reporters attending the forum.

President Xi offered a vision of the Belt and Road Initiative t

hat inspires confidence in us, especially as small island developing states.

Facing challenges such as global warming and lack of development

financing, we in the Caribbean region welcome the opportunities presented by the initiative.

President Xi must be commended for his visionary leadership an

d his boldness in offering a new path for a brighter and shared future.

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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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The Belt and Road Initiative aims to build the Silk R

oad Economic Belt and the 21st Century Maritime Silk Road and deliver policies, infrastructu

re, trade, financial and people-to-people connectivity via a new platform for a brighter future.

Tesla Inc lost $700 million in the first quarter but predicted it wou

ld return to profit in the third quarter as it cuts costs an

d improves delivery after facing issues ramping up shipments outside the United States.

Shares of Tesla were about flat after the results, which came more than an hour afte

r they were expected and after a sales contraction in the quarter raised investor concerns.

The company, which many analysts predict will need to raise

funds for its expansion, said it ended its first quarter wi

th $2.2 billion in cash after paying off a $920 million convertible bond obligation in March.

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