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Market expectations for interest rate cuts have been rising in

 China after Spring Festival. Before embarking on their next move in interest rate reform, however, policymakers need to assess dom

estic macroeconomic conditions in order to reduce financing costs. It is more urgent to let the financial market determine the lending rate, Sun said.

“We hope (policy fine-tuning) will not surprise the market when it is introduced,” Sun said.

Communication with other countries is also needed before launching new policies or introdu

cing creative monetary policy tools, and “the PBOC has good communication mechanisms with other c

entral banks including the US Federal Reserve and the European Central Bank”, Sun said.

Last year, the PBOC removed some constraints on credit, including liquidity in

jection through cutting the reserve requirement ratio four times and capital rep

lenishment by allowing commercial banks to issue perpetual bonds, which have no maturity rate, he said.

Chinese commercial banks, however, are still using the one-year lending rate of 4.35 percent — th

e rate commercial banks charge businesses — set by the central bank in 2015. It is higher than in

terbank market rates or the interest rates banks have been paying to the central bank of 3.05 to 3.30 percent.

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Forward-looking measures have already been taken

 by the Chinese monetary authority, earlier than other major central banks, based on the evaluation on macroeconomic conditions and the exter

nal environment. Policy fine-tuning will send positive signals to the market and support financial resilience, Zhang said.

This year, the remarkable change in tone from the world’s major central banks is shifting into a monet

ary easing cycle, and policies from the Chinese central bank are headed in the same direction, Zhang added.

A recent research note from Goldman Sachs forecast China’s credit growth to rise in January as commercial banks may be “si

gnificantly more aggressive than before” with encouragement from the easing policy. With the PBOC scheduled to

release more data this week, the trend may be reflected in faster growth of new yuan loans and the broad money supply.

Amid a good fall of snow, which Chinese traditionally believe promises a year of harvest and

prosperity, Chinese and United States top officials started two days of talks in Beijing on Thursday.

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hina refutes report of contact with Venezuelan opposition

ina said on Wednesday that it hoped relevant media would report news abiding by principles of being objective and fair.

Chinese Foreign Ministry spokesperson Hua Chunying made the remarks when asked for comments on The Wall Street Jo

urnal reporting that Chinese diplomats had contact with Venezuelan opposition representatives in Washington.

“Recently, some media have been cooking up fake news. I don’t know what the purpose is,” said Hua at a press br

iefing. “We hope relevant media will report news abiding by principles of being objective and fair.”

As for the current Venezuela issue, China advocates seeking a political settlement through dialogue and consultation, Hua said.

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Naturalization becomes increasingly popularup quarterfinal

China lost 3-0 to Iran in late January in the Asian Cup quarterfinal, conceding all three goals due to defensive errors. “When you face a strong team like Iran, you

have to avoid making the mistakes. I did not expect we lost the game in this way,” China coach Marcello Lippi said.

With the Olympic qualifying tournament and the 2022 World Cup quali

fying campaign around the corner, China faces an uphill battle with a limited squad.

Hou Sæter’s versatility has been praised by Guo’an head coach, Rog

er Schmidt, who has said the midfielder can play a number of positions across the pitch.

Naturalization has become increasingly popular in international football in recent

years, and has been used by Japan, the Philippines, and AFC Asian Cup holders Qatar.

  In fewer than 15 minutes, you can read any bestselling nonfiction book with Blinkist. The app s

ummarizes key insights from the world’s best business, leadership and productivity books.

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echnology revolution and urbanization still carricenter added.

Meanwhile, a slump in population increases and growing aging populations will become a ke

y factor dragging down economic growth in developed countries and some developing countries.

The global population is predicted to rise from 7.35 billion in 2015 to 8.89 billion in 2035 and 9.77 billion in 2050. The pr

oportion of the aging population is expected to rise from 8.3 percent in 2015 to 13 percent in 2035 and 15.8 percent in 2050.

Over the next 15 years, global economy is expected to trend more toward multipolarity. By 2035, developing co

untries’ GDP will surpass developed economies’, contributing nearly 60 percent in global economy and investment.

The focus of global economic growth will shift from Europe and the United States to

Asia and extend to other developing countries and regions, the center added.

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Tiantongyuan redevelopment set to improve livesin the capi

To eradicate the problems in the capital’s suburb in August, the Beijing government launched a three-year, 20-billion-yuan action plan focusing on 97 projects.

However, having since consulted with 17 commissions and bureaus, the aim is now to work on more than 100 projects.

Cai Qi, Party secretary of Beijing, said the city’s urban planners should look at ways of implementing Ti

antongyuan’s original functions to improve living standards and provide better, happier homes.

The plan is part of a citywide campaign to build the capital into a world-class city in accordance with

the Beijing Overall Urban Development Plan published in October 2017. It will run until 2030.

Li Ding, associate professor at the School of Sociology and Population Studies at Re

nmin University of China, has studied Huilongguan for more than five years.

He said the upgrade is badly needed, so the action plan should have been formulated earlier. Moreover, as the lack of major in

frastructure is not an issue residents can tackle, the local government must assume the responsibility.

“Most Huilongguan residents are highly educated, so their demand for educational and cultural facilities is much higher,” Li said.

Since renovation work began at a 19-hectare sports and cultural park in Huilongguan, Li has noticed changes in the community.

“Some old sports facilities have been demolished and the park has been divided into four zones to provide a modern facility,” he said.

According to the Beijing Municipal Development and Reform Commission, there are plans t

o build six kindergartens as well as three primary and two secondary schools to satisfy residents’ needs.

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The China National Tourist Office in New York and the China

  Chamber of Commerce – USA (CGCC) are event partners. More partners in the US are welcome to join the campaign throughout the event.

  Participants are invited to submit up to three photos with captions, limited to 300 words or less, explaining their person-to-perso

n exchange, relationship or experience, exemplified through the photographs. Submissions should be ma

de via email at: mychinaa[email protected]sa.com, or via

mail at: My China Album, 529 14th Street NW, Suite 1108, Washington DC 20045.

  Judging will take place at the close of submissio

ns, and prizes will be awarded to 10 finalists. All entrants will receive a souvenir for participating in the event.

  The grand-prize winner will receive the flight tickets. Finalists also may have their

stories featured in China Daily through its print edition and many digital platforms.

yuyingleyou.com.cn

My China Album’ to celebrate 40 years of China-US memories

‘My China Album’ to celebrate 40 years of China-US memories
chinadaily.com.cn | Updated: 2019-02-07 12:57


Share Your Unforgettable Memories and Join Us in Celebrating the 40th Anniversary of China-US Diplomatic Relations

The Embassy of the People’s Republic of China in the United States of America and China Daily Launch “My China Album” Photo Competition

Guests pose for photos at the My China Album sign at the Chinese Embassy in Washington on Wednesday. [Photo by Z

hao Huanxin/China Daily]
WASHINGTON — My China Album, a story-sharing event focusing on the frie

ndship between people from China and the United States, was launched on Wednesday at a reception hosted by the Ch

inese embassy celebrating the 40th anniversary of the establishment of China-US diplomatic relations.

The event, co-organized by China Daily, China’s largest English-language ne

wspaper, which has a global audience, encourages Americans to submit photos an

d stories highlighting their most memorable experiences in China, especially their encounters with Chinese peo

ple. The top winner will receive two economy-class, round-trip airline tickets from New York to Beijing.

The exchange of visits between Chinese and American table tennis teams in 1971 and 1972 opened a new chapter in China-US friendly relations and contacts.

On Jan 1, 1979, the two countries officially established diplomatic relations. Since then, people-to-people excha

nges have helped cement a foundation and have played a key role in promoting understanding and mutual trust between the two countries.

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Senior-friendly furniture remodeling returns home safe and sound

CHANGSHA – Luo Pengfei, 22, is a good communicator with the elderly as it is his job to visit them every day to remodel their furniture.

“We visit the elderly to learn about their self-care ability, measure their bathroom area and threshold

height, and check whether the floor will be slippery when getting wet,” said Luo, who works for K

angle Nianhua, a company providing senior care services in central China’s Hunan Province.

Luo will design the layout and then start home space reformation to clear hidden dangers, to give the elderly a safer home.

In rooms where the elderly are prone to falls, Luo’s company will install handrails or grab bars

and add non-slip stickers and pads. In the bathroom, the company will install a bathstool and a toilet chair.

The company also provides crutches for those with mobility problems.

Long Xinjian, 61, resident in the provincial capital of Changsha, has long suffered fro

m high blood pressure and coronary heart disease. He had fallen in the toilet several times, but now with p

ads, wall handrails, removable toilet chairs and bath stools installed, he no longer worries when using the toilet.

www.suiyincoin.cn

The preferential treatment will target those registered as needy

alf a year, on subsistence allowances or recent graduates from higher educational institutions.

The decision allows provincial-level governments to raise tax relief by 20 percent at most, depending on the needs of the region.

Companies who have hired the needy and paid social insurances for them can also en

joy tax deductions to the tune of 6,000 yuan per person a year for three years.

Local governments at provincial levels can lift tax relief by 30 percent at most according to local conditions.

The tax deduction mainly covers value-added tax, urban maintenance and constru

ction tax, educational surcharge and individual income tax and will be effective from Jan. 1, 2019 to Dec. 31, 2021.

A separate statement, which was jointly issued Saturday by the Ministry of Finance, the State Taxation Administration and the Ministry of Vete

rans, said that self-employed veterans can also enjoy all the preferential treatments.

Companies who have hired veterans can also enjoy tax deduction to the tune of 6,000 yuan per person a year for three ye

ars. Local governments at provincial levels can lift tax relief by 50 percent at most according to local conditions.

www.cdyyfq.cn