China has to walk a fine balance between local govern

nment debt management and stable economic growth, especially at a time when trade te

nsions with the United States have imposed more downward pressure, said economists.

More financial resources and investors will be involved in the debt resolution process, said Qiao Baoyun, head of the Acad

emy of Public Finance and Public Policy at the Central University of Finance and Economics.

The last round of local government debt swaps started in 2015 and ended in August 2018, w

hich saw 14.34 trillion yuan ($2.08 trillion) of local government debt being swapped into bonds.

Local governments are set to face more debt burden in the next three ye

ars, as many of the previously issued bonds are set to expire, income from land sales has

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He said that it’s of great importance to promote such philos

philosophies to enhance the exchanges and mutual learning of diverse civilizations.

Frederick W. Russell-Rivoallan, a program specialist and head of social and human sciences for UNESCO, hailed the dialogue of Asian civilizations.

“It’s a great way to concentrate in this part of world, but it’s also

a global inspiration – bringing countries together, understanding other cultures, respecting each

other and sharing with each other,” he said. “That’s the way that we can understand each other better and live together better.”

China will extend 1,000-Megabyte broadband connection to more than 300 cities and cut the

average service rates by 15 percent for small and midsized enterprises this year. The measures are desi

gned to achieve multiplying effects of expanding domestic demand, boosting employment and improving people’s lives.

The decision was made at the State Council’s executive meeting chaired by Premier Li Keqiang on May 14.

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China’s new energy vehicle sales performed well in Ap

 April, despite the continuing downward trend of the automotive market, Securities Daily reported on Wednesday.

From January to April, the country’s NEVs market experienced strong gro

wth of sales and production, recording a year-on-year increase of 59.8 percent and 58.5 p

ercent, respectively, according to China Association of Automobile Manufacturers (CAAM).

China sold 97,000 NEVs last month, an increase of 18.1 percent year-on

-year, while the output reached 102,000, up 25 percent compared with a year earlier.

Pure electric vehicles saw a rise in both sales and output by 9.6 percent and 28.2 percent, respectively, to 71,000 units and 82,000 u

nits in April. Besides, about 26,000 plug-in hybrid vehicles were sold during the same period, surging by 50.9 p

ercent from a year earlier, and the output increased 13.6 percent to 20,000 units.

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Trade agreements can affect the types of goods being

traded and they can redirect trade toward one country, away

from others. They cannot directly affect any country’s worldwide current account balance. A count

ry that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gove

rnment system to encourage increased savings. China has almost nothing to do with it.

Ironically, the disputes between the US and China center around both nations’ legitimate desires to

protect some current low-skilled jobs, or at least to allow an easier transition to new jobs and industries.

US administration’s economic policy has rightly focused on the need to

retain jobs for working-class people in the US. And, China’s companies that export to the U

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Hospital head removed after 5 infants diern Medical Univers

Investigators criticize lax management, failure to control enterovirus outbreak

Liu Ruilin, Party secretary and president of Shunde Hospital of Southern Medical University, has been

removed from his positions after five babies died and 14 fell ill during an enterovirus outbreak at the hospital.

The five newborns who died had other underlying diseases, such as pneumonia, before c

ontracting the virus, according to a statement from the Guangdong Health Commission on Saturday.

Thirteen of the sick babies have been discharged from the hospital, w

hile the other one continues to be treated and is in a stable condition, the commission said.

An investigation determined that the case became serious because

of the combination of the intestinal virus with lax hospital management.

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tional order that was founded by the UN and that br

ught about more than 70 years of general peace and rapid development after World War II. We mus

t oppose a Cold War mentality and competitive rivalry, which go against the tide. We must firmly pro

mote economic globalization, and prompt it to develop in a more inclusive, mutually beneficial, equitable and rat

ional direction so as to realize a common prosperity and progress of humanity.

Third, we should be disseminators of Chinese civilization. Many pun

dits in the contemporary world think that China’s traditional culture contains important an

swers to resolving difficult problems of today’s world. A nation’s most profound spir

itual pursuits are deposited in its culture. China’s development path is rooted in its civilization and traditions.

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Sourabh Gupta, resident senior fellow at the Washingto

ton-based Institute for China-American Studies, specifically praised the new Foreign Investm

ent Law-passed in March by China’s national legislature and effective in 2020-which he said is “a far

sighted piece of legislation” that “will firmly usher in a new round of reform and opening-up”.

“Strong measures to deal with political, regulatory and administrative noncompliance are envisaged. A robust wor

king mechanism to promptly address foreign businesses’ complaints is also envisaged,” said Gupta, who believes the p

rovisions are a big step in assuring foreign businesses that the playing field is leveled in China.

“It is the predictability, transparency and nondiscrimination bent of the law which, in my view, will lead to a significant inw

ard flow of foreign capital in key services and advanced manufacturing sectors,” he said.

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Those involved in the BRI will strengthen synerg

y in development plans and initiatives of various countries and international organizations and in

tensify bilateral and the third-party market cooperation to help more countries raise their level of connectivity, Xi said.

He added that participants agreed that Belt and Road forums are an important platform for multilateral co

operation and should be held on a regular basis.

President calls for countries’ joint efforts in building Belt, Road in forum speech

President Xi Jinping pledged on Friday to take strong measures such as easing market

access for foreign capital and increasing imports to promote the higher-level opening-up of the country.

While delivering the keynote speech at the opening ceremony of the

Second Belt and Road Forum for International Cooperation in Beijing, Xi said that the p

urpose of building the Belt and Road is to achieve win-win cooperation and common development.

China will increase imports of goods and services on a larger scale, and it will further lower its tariff rates, Xi said.

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Liu also announced that a multilateral development

financing cooperation center has recently been established — jointly with eight multilateral develo

pment institutions including the World Bank, Asian Development Bank and Asian Infrastructure In

vestment Bank — to prepare for “high-quality” projects and promote international standards for BRI financing.

Chinese financial institutions have provided more than $440 billion for BRI infrastructure projects. Renminbi-denom

inated overseas investment funds amounted to over 320 billion yuan ($47.49 billion) and the Chinese capital mark

et has helped companies raise 500 billion yuan through equity funding. BRI countries and companies have issued mor

e than 65 billion yuan in Panda bonds in the Chinese onshore market, according to the central bank.

The World Bank said BRI cooperation is predicted to reduce global trade costs by 1.1 percent to 2.2 percent in 2019.

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Zhang Huoding, one of the most popular Peking Opera

 stars in today’s China, will take the opera makeover to the stage of the Chang

‘an Grand Theater on May 25, as the closing show of this year’s Meet in Beijing inte

rnational arts festival. Celebrated Peking Opera artist Gao Mukun will star as Xiang Yu.

For 48-year-old Zhang, it’s a dream come true.

“It’s always been my dream to play concubine Yu since I was learni

ng Peking Opera in Tianjin in the 1980s, but I didn’t get the chance,” Zhang said at a news conf

erence in Beijing on Tuesday. “I look forward to it very much and I hope the audience will like it.”Zhang is an inh

eritor of the “Cheng School” of Peking Opera, a performing style founded by Cheng Yanqiu (1904-58), one of the great Pe

king Opera masters of the 20th century. While Mei Lanfang’s “Mei School” is fam

ous for his smooth, moderate and poised style in playing elegant female roles, Cheng style is kn

own for interpreting tragic women with frequent changes in sounds and rhythm.

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