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Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we
re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.
On Monday, individuals in China were able to purchase bonds issued by t
he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N
ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc
ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.
The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu
ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno
wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.
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.
cles are starting to gain momentum in the private market. With the overall vehicle market remaini
ng flat, sales of new energy vehicles last year reached 1.25 million, up 61.7 percent year-on-year, and
the figure is expected to reach 1.6 million this year according to the China Association of Automobile Manufacturers.
China plans to stop subsidies on new energy cars by the end of 2020. To ensure a smooth transi
tion, the government decides to achieve this goal by enacting policy in several phases. This year’s subs
idy standard was slashed 50 percent on average from 2018, Xinhua reported, citing a person with knowledge of the matter.
The source said the proportion cut is basically consistent with falling ratios of general cost for co
mplete vehicles, while pointing out with the rapid expansion of the NEV industry some enterprises tend
ed to become reliant on long-standing subsidies, leading to weak competitiveness.
The statement also asked local governments to remove subsidies on purchases o
f new energy cars after a three-month grace period starting Tuesday. Instead, more funds will be used
to build infrastructure, including charging and hydrogen refueling facilities, and to facilitate relevant services.
ledge of jewelry and the history of the brands. She has placed many orders after watching these livestreaming videos.
Zhang is among the growing consumers who are willing to accept new things, learn about
overseas brands, cultures and lifestyle as well as make friends with overseas shoppers who share the same interests.
Online shopping via livestreaming videos is gaining traction among the post-80s and post-90s generatio
n consumers, who have increasing demands for premium brands and high-quality imported products amid consumption upgrade.
Statistics from Chinese cross-border e-commerce platform Ymatou showed that nearly 32 perc
ent of users buy products through livestreaming videos, and the post-80s and post-90s generation consumers, who tend to buy medieval peri
od jewelry, clothing and bags by watching livestreaming videos, have become the main force of overseas online shopping.
In the meantime, the post-2000 generation prefers to buy fashion brands, beauty makeup products, with high repurchasing rates.
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.