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magazine of the Communist Party of China Central Committee. He said more efforts a
re needed to implement the proactive fiscal policy and boost efficiency this year.
Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.
Innovative financial tools will be introduced for debt swaps, and the indebted comp
anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea
d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.
“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this
round of debt swaps will not involve the government’s administrative orders, but depends on the ma
rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.
ssing $682 billion, and it is only natural that the two sides should seek to consolidate their trade and economic cooperation since it provides a solid foundati
on for strengthening their overall relationship, and they have everything to gain from building on the current g
ood momentum in their relations and docking their respective development strategies.
At the 21st China-EU Leaders’ Meeting in Brussels on Tuesday, Premier Li Keqiang is expected to underscore China’s resolve to deepen st
rategic mutual trust and cooperation with the EU, including on the Belt and Road Initiative that China has prop
osed as a means for improving global connectivity and shared development.
This year, Italy and Luxembourg signed memorandums of under
standing with China to jointly advance the construction of the Belt and Road, bringing to 22 the total num
ber of European countries that have signed cooperative agreements with China on the initiative.
It is not all hunky-dory of course, as two major powers, the two sides do differ on some issues, a
nd there are some disputes between them. However, their common interests far outweigh their differences.
Super Rice project is geared to guarantee stable yields while beefing up crops’ resistance against drought, flooding and diseases,” Li said.
“Thus, farmers are able to save a large amount of resources, such as fertilizers or irrigation water, to fight those issues,” he added.
The sustainability of the approach is welcomed by Philippine agricultural researchers and farmers, according to Jose
Yorobe, a consultant with the International Rice Research Institute in the Philippines. He attended a meeting in Beij
ing on Tuesday, along with dozens of representatives from participant countries, that marked the project’s conclusion.
“Because of climate change and population growth, developing countries are now pressured to increase rice prod
uctivity,” he said. “Some high-yield modern varieties are still vulnerable to inclement weather, pests and disease.”
arks the 16th anniversary of the death of the singer and actor due to depression.
“I am who I am, a different colored sparkle. I love myself, just like the blooming rose wa
iting to flourish even in the desert,” Leslie Cheung sang in one of his musical masterpieces I. He is consi
dered “one of the founding fathers of Cantopop” for achieving huge success both in film and music.
Starting his career as a singer in 1977, Cheung rose to fame six
years later thanks to the song The Wind Blows On. He has released many popular albums and r
eceived numerous music awards, including being honored as Asia’s Biggest Superstar at the 2000 CCTV-MTV Music Honors.
However, there’s much more to him, beyond his superior musical accomplishments. In the late 1980s, he shifted
his career focus to the movie industry and shaped many classic roles that no one can rival, even to this day.
Some have said you might not really know Leslie Cheung’s music, but you’ve probably seen at least one or two of his sentimental films.
“He is a top Asian giant, has exciting stage performances, astonishing beauty and excellent acting skills,” a CNN report once said about him.