Archive March 2019

By becoming the first G7 member to join the Belt

Road Initiative, Italy has set an example for other European countries on how to strengthen cooperation with China in the future.As for C

hina and France, the two countries inked agreements on deepening joint development, part

icularly through industrial cooperation. The two sides also signed billions of dollars worth of contracts.Now tha

t French President Emmanuel Macron, a firm supporter of European integration, has taken measures to im

prove China-France cooperation, the healthy and fruitful progress of Sino-French ties can in turn promote better C

hina-EU relations. Macron has always emphasized France’s position in the European integration project and China sup

ports his efforts.By reaching agreements on cooperation, Xi and Macron have paved the way for not only deep

er Sino-French cooperation but also overall Sino-EU cooperation, which was highlighted during Xi’s meeting with Germ

an Chancellor Angela Merkel and European Commission President Jean-Claude Juncker.

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But since challenges co-exist with opportunities, Chin

  should maintain regular communication with its EU partners, seek

mutual benefits and use innovative mechanisms to realize better cooperation.

  Tian Dewen, deputy director general of the Institute of European Studies of Chinese Academy of Social Sciences

  Sino-EU cooperation has great potential

  As one of the world’s three largest economies and a strong driving force of multilateralism, the EU is an

important cooperation partner of China in fields such as free trade, international issues and global governance.

  Xi’s visit to the three EU member states shows a great potential for China-EU coope

ration is still to be tapped. The EU’s wish to deepen cooperation with China was reflected in what the EU states said

about strengthening Sino-EU cooperation through a coherent strategy at Xi’s meeting with Merkel and Junker.

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We have sent farming experts to hybrid rice growing are

s overseas, and we give local farmers guidance, training and planning for future develop

ment,” said Xie, who has worked as an expert in Vietnam, Myanmar, Cambodia and Gambia.

Under the Boao Forum framework, Hainan has created a series of subforums, such as the

ASEAN-China Governors/Mayors Dialogue, the 21st Century Maritime Silk Road Island Economy subforum, the South China Sea su

bforum, the Roundtable Discussion for Overseas Chinese Business Leaders and Chinese think tanks, Wang said. “These diplo

matic platforms serve as new bridges to promote practical industrial cooperation between BRI countries.”

Activities at the Boao forum this year will highlight land and sea interconnectivity betwee

n BRI countries. Invitations will be sent to overseas participants to share in building a pilot free trade zone in Hainan.

Hong Kong youth groups will be invited to Hainan to see space satellite launch facilities, deep-sea science and techn

ology, seed breeding and other fields. Invitations will be extended to young people from ASEAN countries, Lanc

ang-Mekong river nations and BRI countries to promote people-to-people understanding, Wang said.

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hina aims to reduce cost of logisticsna aims to reduce

 logistics costs by nearly 121 billion yuan ($17.8 billion) this year, the Ministry of Transport an

nounced on Thursday at a news conference of the State Council Information Office.

Spokesman Wu Chungeng said the ministry will unveil a st

ring of measures not only to cut costs but to promote innovative development of the industry.

China will continue to increase railway freight volume, upgrade its

water transportation system, regulate highway freight transport and speed up mul

timodal transport in a bid to improve its logistics network and optimize its structure, Wu said.

It will also further integrate important ports and harbors into the inland multimodal transport and logistics netw

ork, which will connect them with more railways and highways and enable improved cargo interoperability, he said.

The country will also expand the use of pilot programs to deepe

n reform of the administrative law enforcement system in the logistics industry to improve i

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Xie Zenggang, commander of the 83rd Group Army who t

 took the examination, was quoted by China National Radio as saying that it had broade

ned his horizons and enabled him to gain a higher strategic perspective that can be used in planning future operations.

“It also reminded me of the necessity that as a commander, I not only need to take into consideration joint o

perations by various services in the PLA but also to think about joint campaigns with foreign militaries,” he said.

In June, the Ground Force organized a test for commanders of its 13 group armies – its la

rgest combat units. Since the start of this year, the Ground Force has conducted a wide range of exam

inations for almost all of its members to verify their professional knowledge and skills.

Geely and Daimler plan a 50-50 joint venture in China, which will develop and produce electric Smart br

anded vehicles and sell them globally starting from 2022, according to a deal the two signed earlier this week.

Representatives of the two carmakers said the Fi

nancial Times’ report of Daimler selling a 50 percent stake of Smart to Geely was not true.

Daimler, also owner of Mercedes-Benz, is currently prod

ucing the Smart branded vehicles in a plant in Hambach, France, but the plant will produc

e electric Mercedes-Benz models instead when the Chinese plant is finished. The location of the plant has not yet been disclosed.

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Cities emerging into new post-Brexit financial centers

The United Kingdom’s decision to leave the European Union has led major

financial companies in London to move assets and staff to continental Europe, mea

ning the post-Brexit landscape is likely to be far more “polycentric” than it is today

and far less centered on one location.

According to a recent report by think tank The New Financial, more than 40 companies have shifted staff or oper

ations to more than one financial center within the EU, with 100 choosing the

Irish capital as a post-Brexit location, whi

ch was the most popular choice ahead of Luxembourg, with 60, Paris with 41, Frankfurt with 40, and Amsterdam with 32.

William Wright, principal author of the

New Financial Brexitometer report, said: “One of the most strikin

g findings of our analysis is the extent to which Europe will become a much more

‘multipolar’ world as a result of Brexit.”

Companies are migrating to, or expanding in, multiple financial centers, with man

y either establishing a dedicated division for EU business or spreading their staff

more evenly throughout the EU.

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For example, banks tend to gravitate to Frankfurt beca

 it is already a banking center in the European context, plus a clearinghouse. Also, Frankfurt has the Euro

pean central bank, which is now the regulator for all banks in Europe. So, the banks want to be closer to the major regulator,” Donoghue said.

As for asset management, insurance, and funds companies, Donoghue said, they are relocat

ing to Dublin because the city has a very broad and diversified set of capabilities in running funds and managing assets.

Andrew Pilgrim, associate partner at consultancy Ernst & Young, which is known as EY, sai

d it is probably not in the EU’s best interests to have financial services concentrated in one location.

“From policy and political perspectives, there is an argument to say that actually having a balanced financial sector across many EU jurisdi

ctions means that you have less risk concentrated in one jurisdiction,” Pilgrim said. “And it also means that you get a more balanced regu

latory and supervisory environment across all the EU member states, as opposed to all of that being focused on one.”

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Former vice-minister of public security expelled from Party

Taking a step requires just one second for a typical person. But not for Gao Ziren, whose paral

yzed left leg requires him to first move a crutch forward before his leg, and then balance himself.

For 42 years, Gao, a teacher at Lixin village primary school in a mountainous area of East China’s Jiangxi province, has walked th

is way between his home, the school and his students’ homes. Over the course of his career, he has worn out more than 60 crutches.

Gao, 60, was born in a mountainous area of Meiling township, Wanli district of Nancha

ng. After coming down with polio at the age of 1, his left leg suffered muscular atrophy, which left him unable to walk normally.

He did not give up, relying instead on his mental strength to finish his studies from primary school through high school.

He started his career in 1977 when a village official visited him about being a teacher in the village, as one of the two teachers the

re had left. Gao agreed to take the position, as he knew the importance of a teacher to students, especially those like him.

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To attract more foreign investment to China, the country’s

 top legislature recently passed the Foreign Investment Law, which says China will gradually shorten the negative list fo

r foreign investors to increase inbound foreign investment. This, together with Italy’s policy to welcome Chin

ese investment, is expected to help the two countries take more measures to boost investment cooperation.

Sino-Italian friendly exchanges have a long tradition, and the prospects for deeper bilateral cooperation are bright. This ye

ar marks the 15th anniversary of the establishment of the Sino-Italian comprehensive strategic partnership, and in 2

020 the two countries will celebrate the 50th anniversary of the establishment of their diplomatic relations.

Therefore, the two sides should synergize their development strategies and tap the potential for further bilateral cooperation. They should also strengthen bilate

al macroeconomic policy coordination under the frameworks of G20, World Bank, Asian Development Ban

k, Asian Infrastructure Investment Bank and other multilateral mechanisms, and help maintain the rule-based multi

lateral trading system and jointly promote global governance reform apart from deepening Sino-Italian and Sino-EU relations.

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According to Chu, most of those moving to Dali are mid

dle-income earners with higher-education backgrounds. “They are not billionaires, bu

t they can afford to buy a house and live a decent life, even without a job, for three or five years,” Chu said.

“Most important, they came to Dali with the idea of living a slow, simple, idyllic lifestyle that is differen

t to that in the big cities. Some say their dreams have already come true, but others feel they made the wrong decision.”

With an increasing number of newcomers arriving, Dali’s tourism and real estate markets have prospered since 2015. According to the local government, 24 p

ercent of property in the city was bought by new arrivals in 2015. Two years later, the number had risen to 60 percent.

Housing prices have surged from 6,392 yuan ($952 at the current rate) per square meter in December 2015 to 11,788 yuan per sq m in the same month last year.

A source at Yunnan Shili Real Estate Development Group, who requested anonymity, sai

d more than 80 percent of the commercial property on its books in Dali had been bought by nonlocals.

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