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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.
nal proportions. But nothing can obliterate the tangible benefits the development initiative has brought. In less than six
years, the nascent Belt and Road are already changing development landscapes in multiple places and dime
nsions. Thanks to the initiative, East Africa has seen its first expressway, the Maldives its first cross-sea bridge, Belar
us its own car-manufacturing enterprise, and landlocked Kazakhstan finally has access to the sea.
And while China-Cambodia trade may not look to be in perfect balan
ce at this point, Belt and Road cooperation between the two neighbors is laying a solid fo
undation for the latter’s future progress. Take the Sihanoukville Special Economic Zone for instance. An exem
plary project under the framework of the Belt and Road Initiative, it is expected to host 300 enterprises, create 100,0
00 industrial jobs, and serve as a resident-friendly new community housing 200,000 people.
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.