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erves, the country has seen stable and fast economic growth in the past four decades, with lowe
r inflation. Thanks to the reserves, China can also benefit from a favorable international trade and fina亚博娱乐官网平台乌托邦
ncial environment in the long term, Chen Yuan, a former deputy governor of the central bank and former vice-ch
irman of the Chinese People’s Political Consultative Conference, said at a forum on Aug 10.
亚博娱乐官网平台乌托邦品茶微信”Previously, we identified the foreign exchange reserves as an important milestone for ec
onomic development and society’s core wealth. Now, we have to reposition the foreign exchange market,” he added.
According to Chen, faced with new challenges, including foreign exchange rate issues raised by the United States rec亚博娱乐官网平台乌托邦
ently, the priority is to keep these reserves safe, and strengthen the renminbi’s position globally.
Chen sees potential in foreign exchange rate risks, as the majority of China-reserved foreign assets are in US dollars.
Late last month, the State Administration of Foreign Exchange, or SAFE, C
hina’s forex regulator, said the country’s foreign exchange reserves held in US dollars
亚博娱乐官网平台乌托邦accounted for 58 percent of the total by the end of 2014, down from 79 percent in 1995.
Among global foreign exchange reserves, assets held in US dollars comprised 65 percent of
the total by 2014, up from 59 percent in 1995, according to SAFE’s annual report last year.亚博娱乐官网平台乌托邦
For the first time, SAFE made public the currency composition of the
forex reserves, after first reporting data to the Currency Composition of Foreign
亚博娱乐官网平台乌托邦Exchange Reserves, or COFER, an International Monetary Fund database, in 2015.
According to COFER, which keeps quarterly data on the currency composition of official亚博娱乐官网平台乌托邦品茶微信
foreign exchange reserves, the world’s forex reserves reached $11.59 trillion in the fir
st quarter of this year. Some 58.14 percent of the total was in US dollars, compared with 1.8 percent in renminbi.
by the US leader as the “right man for the job”, told the US leader at a
Sunday breakfast meeting that “we don’t like tariffs on the whole … We are in favor of trade pe亚博娱乐官网平台乌托邦品茶微信
ace”, having said on his arrival on Saturday that the trade war was “not the right way to proceed”.
亚博娱乐官网平台乌托邦Rarely have European leaders spoken with such unity on an issue. By doing so they will have hoped to drive home the messa
ge to the US leader that in a closely interconnected global economy, no one wins in a trade war, everyone loses.
Hopefully, that message has been received, since the US leader said on Monday that the two sides will begin亚博娱乐官网平台乌托邦
“serious negotiations” soon, as both sides understand the consequences and where the other stands.
China wants to make a deal. But that deal can only be reached based on equality and mutual re亚博娱乐官网平台乌托邦品茶微信
spect. It does not want any “decoupling” of the world’s two largest economies, as some in the US have tru
亚博娱乐官网平台乌托邦mpeted, knowing it benefits from that coupling. But it will not acquiesce to unreasonable demands.
Let us hope his talks with the European leaders have helped the US l
eader appreciate that the interconnectedness of the US and Chinese economies also b亚博娱乐官网平台乌托邦品茶微信
enefits the US, and that a trade deal is in everyone’s best interests, the US included.
China, the second-largest economy of the world and neighbor to 21 countries, is set to celebrate its 70th anniversary on October 1.亚博娱乐官网平台乌托邦
The path of development set by the Chinese leadership and the Communist Party of China was n
亚博娱乐官网平台乌托邦ot an easy job as there was much suffering in the prior century before it founded as a sovereign state.
The vision and statesmanship of the Chinese leadership and commitment of its people ch亚博娱乐官网平台乌托邦品茶微信
anged the status of the country from one with a backward economy tow
ards a prosperous one that is playing an active role in the international arena.
Chinese officials and experts have urged politicians in the United States to stop using the situat
ion in Hong Kong as a bargaining chip for negotiations or as leverage for fueling competition with Beijing.亚博娱乐官网平台乌托邦品茶微信
Senior politicians such as US Vice-President Mike Pence and House Speaker Nancy Pel
osi have spoken out on or pushed legislation concerning the recent violent protests in the city.亚博娱乐官网平台乌托邦品茶微信
Pence angered China on Monday by telling the Detroit Economic Club that “for the Un
ited States to make a deal with China”, Beijing needs to “respect the integrity of Hong Kong’s laws”.
亚博娱乐官网平台乌托邦”Our administration will continue to urge Beijing to act in a humanitarian manner,” Pence added.
In response, the Foreign Ministry’s Commissioner’s Office in the Hong Kong Special A
dministrative Region said on Tuesday that China resolutely opposes any country attempting to “take Hong Kong’s s亚博娱乐官网平台乌托邦
tability and prosperity as well as the well-being of more than 7 million Hong Kong residents as a bargaining chip”.
“Do not daydream about China making a deal using its territorial sovereignty and national reunification,” an unnamed spokesperson亚博娱乐官网平台乌托邦品茶微信
said in a statement, calling for a halt to intervention in China’s domestic affairs, including Hong Kong affairs.
On Aug 6, Pelosi said in a written statement that “the extraordinary outpourin
亚博娱乐官网平台乌托邦品茶微信g of courage from the people of Hong Kong stands in stark contrast to a cowardly government”, and she reite
rated her call for suspending “future sales of munitions and crowd control equipment to the Hong Kong police force”.
capital flows and realize the free flow of goods, according to the plan.
亚博娱乐官网平台乌托邦The area will be built into a special economic function zone with global influ
ence and competitiveness, to better serve the country’s overall opening-up strategy, it says.
亚博娱乐官网平台乌托邦By 2025, the Lingang area will have a relatively mature institutional system of investment and trade liberalization and faci
litation. By 2035, it will be built into a special economic function zone with strong global market influence and co
mpetitiveness, becoming an important platform for the country to integrate into economic globalization.亚博娱乐官网平台乌托邦
The addition of the Lingang area is a major strategic decision made by the Communist Party of China Central Co
mmittee to further opening up, Vice Commerce Minister Wang Shouwen told a press conference Tuesday.亚博娱乐官网平台乌托邦品茶微信
It also demonstrates China’s clear stand to adhere to all-round opening up in the new era an
d an important measure taken to actively lead the healty development of economic globalization, Wang said.
亚博娱乐官网平台乌托邦An institutional system with “investment and trade liberalization at its core” will be established in the area, Wang said.
It will be supported in promoting investment and trade liberalization and facilit
ation, including free flow of investment, trade, capital, transportation and employment, the plan says.亚博娱乐官网平台乌托邦品茶微信
According to the plan, a tax system and policy with international competitiveness will be implemented in the area.
Income tax shall be levied at a reduced rate of 15 percent within five years fro
m establishment for qualified enterprises engaged in manufacturing and R&D in ke亚博娱乐官网平台乌托邦
y fields including integrated circuits, artificial intelligence, biomedicine and civil aviation, says the plan.
China will study and implement subsidy policies for the balance of personal i
ncome tax on overseas talents, and explore tax policy arrangements for pilot fr亚博娱乐官网平台乌托邦品茶微信
ee trade accounts under the prerequisite that they do not lead to tax base erosion and profit shifting, it says.
The area will improve risk prevention and safety supervision and s
et up an open industrial system with global competitiveness, according to the plan.
Chief Executive Carrie Lam; Tung Chee-hwa, vice-chairman of the Chinese People’s Political C
亚博娱乐官网平台乌托邦女神会所onsultative Conference National Committee; Wang Zhimin, director of the Liaison Office of
the Central People’s Government in the HKSAR; Xie Feng, commissioner of the Ministry of Foreign Affairs of the P
e亚博娱乐官网平台乌托邦ople’s Republic of China in the HKSAR; and Cai Yongzhong, political commissar of the PLA Hong Kong Garrison.
Earlier this week, a spokesman for the Hong Kong and Macao Affairs Office of the State Council, the nation’s t
亚博娱乐官网平台乌托邦女神会所op Hong Kong affairs authority, stressed Hong Kong’s priority is to punish those engaged in violent acts. He appealed to
people from all walks of life in Hong Kong to reject violence and stand firm in defense of the rule of law.
US Federal Reserve on Wednesday lowered interest rates for the first time since the 2008 global financial crisis,亚博娱乐官网平台乌托邦女神会所
amid rising concerns over trade tensions, a slowing global economy and muted inflation pressures.
The Federal Open Market Committee (FOMC), the Fed’s rate-setting body,
亚博娱乐官网平台乌托邦trimmed the target for the federal funds rate by 25 basis points to a range of 2 perc
ent to 2.25 percent after concluding its two-day policy meeting, in line with market expectation.
“Through the course of the year, weak global growth, trade policy uncertai
nty, and muted inflation have prompted the FOMC to adjust its assessment of the app亚博娱乐官网平台乌托邦女神会所
ropriate path of interest rates,” Fed Chairman Jerome Powell said at a press conference Wednesday afternoon.
Despite strong job growth and solid consumer spending, the cen
亚博娱乐官网平台乌托邦女神会所tral bank chief pointed out that manufacturing output has declined for two consecutive qua
rters, business fixed investment fell in the second quarter, and domestic inflation shortfall has continued.
“The Committee moved from expecting rate increases this year, to a亚博娱乐官网平台乌托邦
patient stance about any changes, and then to today’s action,” Powell said.
“It’s primarily about risk management and a recalibration in response to rising ri
亚博娱乐官网平台乌托邦女神会所sks associated with global growth and trade tensions,” Tim Duy, professor at the Uni
versity of Oregon and a Fed expert, wrote in a Bloomberg opinion piece earlier this week.
ng police in strict law enforcement, and stands by HKSAR government agencies and judici
?亚博娱乐官网平台乌托邦ary bodies in handing out punishment to violent criminals according to law, he said.
Yang also said that the principle of “one country, two systems” is the best institu
?亚博娱乐官网平台乌托邦品茶微信ional arrangement for maintaining long-term prosperity and stability in the SAR.
The Democratic Alliance for the Betterment and Progress of Hong Kong — the largest
political party in the Legislative Council — welcomed the Hong Kong and Macao Affairs Office’s remarks.?亚博娱乐官网平台乌托邦
Holding this news conference showed the importance the affairs office attaches to the HKSAR, as well as support for the S
?亚博娱乐官网平台乌托邦AR government and the police force, said the party’s Chairwoman Starry Lee Wai-king.
The central government’s expectations are in line with those of most Hong Kong people, Lee said.
The HKSAR government on Monday strongly denounced escalated and repeate
?亚博娱乐官网平台乌托邦品茶微信d violence by protesters and vowed to give full support to police to strictly enforce the law.
For the first time in the 29-year history of the Fortune Global 500 list, Chinese companies (129) outnumber those from t
he United States (121). This is also the first time that a country other than the US has more companies on the list.?亚博娱乐官网平台乌托邦
Among the 129 Chinese enterprises on the list, 119 are domestic in nature
whose average revenue increased 9.2 percent year-on-year－higher than the average
?亚博娱乐官网平台乌托邦品茶微信revenue growth of Fortune Global 500 companies. These enterprises’ rates of profit and net asset profit were 5.3 pe
rcent and 9.9 percent, up 0.2 percentage points and 1.0 percentage point year-on-year.
The Chinese enterprises have also taken firm steps toward high-quality development. And although they have enc?亚博娱乐官网平台乌托邦品茶微信
ountered some difficulties due to the Sino-US trade frictions and the technological containment measures t
?亚博娱乐官网平台乌托邦aken by the US government and some US enterprises, their growth has continued unabated.
Three major factors are behind the Chinese enterprises’ continuous and rapid development: reform, demand and innovation. China’s supply-side str?亚博娱乐官网平台乌托邦品茶微信
uctural reform has improved the market competition environment, promoted qualitative supply, increased t
he enterprises’ earning power, and enhanced their development potential and momentum.
Shanghai has good conditions for conducting consultations,” Gao said, without elaborating.
亚博娱乐官网平台乌托邦女神会所US Treasury Secretary Steven Mnuchin and Trade Representative Robert Ligh
thizer will meet with Chinese Vice-Premier Liu He to continue negotiations aimed at i
mproving the bilateral trade relationship, the White House said in a statement on Wednesday.亚博娱乐官网平台乌托邦女神会所
China will never seek hegemony, expansion or spheres of influence, and the People’s Libera
亚博娱乐官网平台乌托邦tion Army will continue to develop its capability with a “reasonable and appropriate” budget to protect n
ational interests and world peace, a defense white paper published on Wednesday said.
The white paper, on China’s national defense, published by the Informa亚博娱乐官网平台乌托邦
tion Office of the State Council, is the 10th of its kind since 1998 and the first compr
亚博娱乐官网平台乌托邦女神会所ehensive one since the 18th National Congress of the Communist Party of China in 2012.
“The development of China’s national defense aims to meet its rightful se
curity needs and contribute to the growth of the wo亚博娱乐官网平台乌托邦女神会所rld’s peaceful forces,” the paper said.
“History proves and will continue to prove that China will never follow the beaten track of big powers seeking hegem
亚博娱乐官网平台乌托邦ony. No matter how it will develop, China will never threaten any country or seek any sphere of influence.”
Senior Colonel Wu Qian, a spokesman for the Ministry of National Defense, said the亚博娱乐官网平台乌托邦女神会所
PLA has expanded its global outreach via cooperation and humanitarian mission
s, but such a trend is not at odds with China’s commitment to following the path of peaceful development.亚博娱乐官网平台乌托邦
“The PLA stepping onto the world stage is to effectively protect China’s overseas interests
and provide more public security services in adherence with common expectations of the interna
tional community,” he said. “In other words, the PLA brings security, not threat; opportunity, not challenge to the world.”
The white paper gave outer space and cyberspace the same weight as the nucl
ear force in China’s national security, calling them “the major security fields”.亚博娱乐官网平台乌托邦
With its goal of developing outer space for peaceful pur
亚博娱乐官网平台乌托邦品茶微信poses, China actively took part in international cooperation in outer space, it said.
It listed cyberspace security as a “key area for national security, economic growth
and social development” and said China is facing severe security threats from cyberspace.亚博娱乐官网平台乌托邦
Boris Johnson has won the United Kingdom’s leadership election 92,153 vo
tes to 46,656, becoming prime minister and leader of the ruling Conservative Party.亚博娱乐官网平台乌托邦品茶微信
Johnson had been widely expected to win ever since Theresa May, the nation’s outgoing prime minister, announced on May 24
that she was resigning following heavy criticism of her handling of the UK’s exit from the European Union.
亚博娱乐官网平台乌托邦In a short but impassioned acceptance spee
ch, Johnson thanked his leadership opponent Jeremy Hunt and May. He said that the p
arty will “deliver Brexit, reunite the country and defeat” the leader of the opposition Labour Party Jeremy Corbyn.
“That’s what we are going to do,” Johnson sai亚博娱乐官网平台乌托邦品茶微信
d. “We know that we can do it, the people in our country know that we can do it, and I know that we will do it.”
Johnson and Hunt were the last people standing in the leadership battle that had initially involv
亚博娱乐官网平台乌托邦ed 10 hopefuls and was ultimately decided in a postal vote open to the party’s 160,000 members.
Johnson takes over as party leader immediately and will be sworn in as prime minister on Wednesday.
He was an outspoken critic of May and says he will take the UK out of the EU on Oct 31, with or without a deal with the political bloc.亚博娱乐官网平台乌托邦品茶微信
Following the result, May congratulated Johnson and said he will have her “full support from the back benches”.
“Many congratulations to Boris Johnson on being elected leader of the Conservatives－we now need to work togethe亚博娱乐官网平台乌托邦品茶微信
r to deliver a Brexit that works for the whole UK and to keep Jeremy Corbyn out of government,” she wrote on Twitter.
Brexit Party leader Nigel Farage wrote on social media: “I wish Boris Johnson well as Prime Minis
ter with his do or die pledge to deliver Brexit on Oct 31. Does he have the courage to deliver?”
?about 10,000 years ago and millet in North China about 8,000 years ago, and thus also benefited the rest of world.
“Through the proj亚博娱乐官网平台乌托邦ect, we fill a void for a pivotal period in Chinese history,” Zhao said. “And it’
亚博娱乐官网平台乌托邦品茶微信s also a big contribution to the world because Chinese civilization is a crucial segment in human history.”
Shen Jiliang, an official with the Ministry of Education in charge of textb
ooks, said the new academic achievements will be soon included in school syllabuses.亚博娱乐官网平台乌托邦
The 4,000-year-old Shimao Site, city ruins found in Shenmu, Sha
亚博娱乐官网平台乌托邦品茶微信anxi province, had never appeared in any ancient historical record before being un
earthed in recent years. The relics show a strong military presence considered to have close connections亚博娱乐官网平台乌托邦品茶微信
with Taosi, and they are now treated as one important origin of Chinese civilization.
亚博娱乐官网平台乌托邦Shen said such new discoveries will be added to high school textbooks.
“History education concerns our nurturing of national pride and cultural confidence,” he said.
The series?If Treasures Could Talk?was a hit across China, inspiring many young view亚博娱乐官网平台乌托邦品茶微信
ers to learn more about their country’s past. Today, we present to you the Liangzhu Jade Cong King.
亚博娱乐官网平台乌托邦Peering at us from the murky dawn of human existence, the eyes engraved on th
e Liangzhu Jade Cong King hint at our ancient ancestors’ loves, fears and their beliefs.
Five thousand years ago, an advanced culture flourished in the Lake Taihu area of eastern Ch亚博娱乐官网平台乌托邦品茶微信
ina. There were towns, tombs, altars, villages, barracks, irrigation works and jade workshops.
Excavation of the site began in 1936. In the course of the following eighty years, the most important find it has yielded is this Jade Cong.亚博娱乐官网平台乌托邦品茶微信
A Cong is a tubular vessel contained within a rectangular body. This one, weighing 6.5 kilos, an
d with a height of 8.9 centimeters and a diameter of 17.6 centimeters, is known as the “Jade Cong King”.