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settlement and sales by banks stood at $6.6 billion, down 44 percent from H2 2018, SAFE data showed.
The reading indicated a relatively good supply-demand situation of the forex market, while monthly fluctuations refl娱乐地图
ected the overall stability of market expectations and the market-oriented adjustment of prices, Wang said.
娱乐地图女神会所According to Wang, China’s forex market showed stable sentiment amid trade frictions with the US and the exchanges bet
ween Chinese and American companies are still very close, which is playing a positive role.
“We are confident to cope with the changing situation and maintain the stability of cross-border capital flows in China,” Wang said.娱乐地图女神会所
A national bankruptcy mechanism is under discussion by policymakers, covering local gover
娱乐地图nments and enterprises, to prevent systemic financial risks, said a senior official with the central bank.
“The key task is to prevent debt default risk,” said Wan Cunzhi, director-general of the PBOC’s Credit Information System Bu
reau, at a news conference on Thursday. He said the mechanism will include inde
bted local governments, while market-oriented measures will be introduced to ease their debt burden.娱乐地图女神会所
Bankruptcy of local governments was rarely mentioned in China before, and the official didn’t re
娱乐地图lease more details on the mechanism. It reflected that policymakers have noticed the potential challe
nges and more measures are expected to strengthen financial stability, analysts said. Total local government deb
t reached 19.9 trillion yuan ($2.89 trillion) by May, according to the Ministry of Finance.娱乐地图女神会所
The State Council released a guideline on Tuesday for building a credit-based market regulation system. The bankruptcy mechanism is one part of the who
娱乐地图le system. Besides local government, individuals and enterprises will also be regulated.
Companies with bad credit records will receive serious punishment
, said Lian Weiliang, deputy head of the National Development and Reform Com娱乐地图女神会所
mission. “For the worst scenario, the companies could be prohibited from the market.”
The measures for rating companies’ credit are being drafted, and market-oriented third-part
y institutions and industry associations will be involved in the rating process, according to Lian.
enced the renminbi’s performance, said Wang Shengzu, co-head of Investment Strategy Group Asia Goldman Sachs.
But the currency is unlikely to slip out of a reasonable range, assuming there is no big shock from the trade talks, Wang said.
As a sound base for a stable renminbi, “the Chinese economy has shown sig
ns of bouncing up, shown by the faster-than-expected growth of industrial output, ret
ail sales, and credit in the first quarter, and this means that economic activity is improving with supportive pol
icies”, said Wang.Liu Shiyu, China’s former top securities regulator, was under investigation for alleged violations of
the law, according to a statement Sunday from the Central Commission for Discipline Inspection.
or of the China Tourism Academy. “Compared to the United States, w
here 48 percent of its citizens hold a passport, the figure in China is only around 10 perce
nt. It’s estimated that the number of Chinese outbound travelers will reach 230 million in 2030.”
A report published by major Chinese travel agency Ctrip showed th
at 160 million Chinese people have travel plans during the upcoming four-day May Day hol
iday. Thailand, Japan, Vietnam, Taiwan and Indonesia are the top destinations outside the mainland.
Malaysia, which receives around 10 million Chinese tourists annually, began to i
ssue e-visas for Chinese in 2017. “The number of visa stickers on passports of Chinese na
tionals dropped by 70 percent in the first year after the service was introduced, showing its high popularity,” said Han.
Since last year, countries including Australia, New Zealand, Singapore, Turkey, Thailand and Sri Lanka have starte
d to accept visa application documents online and issue e-visas, either a bar code or QR code.
up China to market vinyls for pop stars such as Jacky Cheung, Karen Mok and Faye Wong, aiming to popularize vinyls among young Chinese buyers.
Turntables are designed to appeal to a contemporary lifestyle that is simple and sustainable, Lin says.
His company opened a vinyl store, called 33-rpm, in Shenzhen on March 21
, and he has ambitious plans to have outlets in about 200 Chinese cities within the next two years.
“When you look at convenience, portability, and all those things,
vinyl doesn’t make sense,” he says. “But it is rooted in a passion or love for music. Some people
buy vinyls but they don’t necessarily listen to them. They’re collecting these things like works of art.”
A total of 700 Chinese sturgeons were released on Saturd
ay into the country’s longest river, the Yangtze River, to save the species from extinction.
The 700 captive-bred sturgeons, nicknamed “aquatic pan
das,” were released in the city of Yichang, Central China’s Hubei province, by the
Chinese Sturgeon Research Institute (CSRI) of the China Three Gorges Corporation.
The sturgeons released into the river will help boost the endangered species’ survival rate in the wild and en
hance their generic diversity, said Li Zhiyuan, deputy director of CSRI.Chinese sturgeons released into China’s longest river