A possible measure to reduce the hidden debt wou

uld be to separate the government-owned assets from that of the companies and let the State-owned businesses run by thems

elves, said experts close to the matter. This is particularly so for some public and infrastructure construction proj

ects. But it also means that the local governments will not be undertaking the default risks.

Experts said the minister‘s viewpoint is a signal that the authori

ties are determined to solve the vexed debt issue with more details set to emerge later and star

t a national campaign for preventing systemic financial risks, amid rising external trade challenges.

Other measures could include selling part of the State-owned assets, rest

ructuring the State-owned enterprises, or reorganizing projects, said Liu.

www.shangyepingtai.cn

Online English education sector records 168% growth but ch

nline English-language courses for children saw an explosive growth in 20

18, according to a report released by data-monitoring firm Trustdata on Tuesday.

The report on China’s online English education market for children s

hows that the market had more than 15 million users last year, up 168.3 percent year-on-ye

ar. It’s expected that the market size would surpass 50 billion yuan ($7.3 billion) in 2019.

The market pattern of one-on-one teaching has been gradually for

med and the top brands have secured the lion’s share of the market, as per the report.

Market size doubles in one year

The market size of online English-language education for childre

n was 21.3 billion yuan in 2018, an increase of 104 percent year-on-year, with one-on-one teaching taking

shlfco.com

The reform and opening-up policies are exactly the kin

ds of market-driven reforms needed to make this happen. The Chinese government is investing heavily in research

and development, but it should be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

Nobody likes competition against themselves. So, it must be admitted that China’s transiti

on to a high-tech, high-value-added economy will come as a shock to many companies around the world.

The US economy, which has about 7 percent of GDP in high-tech manufacturing, will be lightly affected by this change.

On the other hand, advanced manufacturing contributes around 20 percent of GDP in South Korea, Japan, Ge

rmany and a few smaller European countries. They will be much more directly affected.

China’s transition over the next 10 years will not be painless for its compa

nies or for foreign competitors. But, reform and opening-up policies that create more com

petitive companies and markets are the only way to achieve a richer and more productive world economy in the long term.

www.njyshsnlt.com

Wu Zhongliang, director of the administration’s Institu

itute of Earthquake Forecasting, said the experimental site will help form a

“united front” at the national and international level to work on earthquake forecasting.

Referring to earthquake forecasting as a hard nut to crack, Wu said t

he work cannot see marked progress just in a few days, but forecasting capability will be imp

roved as technology develops. “If it’s a war between humans and earthquakes, it’s us that will finally win,” he said.

Paul Tapponnier, a distinguished research professor a

t the administration’s Institute of Crustal Dynamics, said he “wholeheartedly” wel

comes the project. China boasts unique conditions to carry out the experiment as most of its earthquakes oc

cur “inside the land under the feet of the people” rather than in the ocean, and there are many active faults in the country.

www.shlf11.cn

The new visa-free policy will play a very activ

e role in promoting regional economic construction in the Guangdong-Hong Kong-Macao Great

er Bay Area and advancing cooperation between Guangdong and the neighboring Hong Ko

ng and Macao special administrative regions in the following years,” Lin said.Zhang Yimin, deputy director gen

eral of the Guangdong Department of Culture and Tourism, said the 144-hour visa-free policy will help make Gu

angdong, window of the country’s reform and opening-up, one of the major destinations for tourists from around the word.

He urged travel agencies and related units in the province to introduce more special tourist ro

utes with local features and offer even better services to foreign visitors. He suggested more foreign tou

rists tour and enjoy the rich Lingnan (South China) culture, cuisines and scenic spots.

The entry and exit and customs departments have now est

blished special channels in airports, rail, land and water ports and are preparing to help

foreign travelers through the procedures for 144-hour visa-free stays in Guangdong, he added.

www.ash99.cn

He also expressed appreciation for Xi’s decision to cr

crack down on fentanyl, saying that it is of great importa

 

nce to Americans, and for the anti-drug cooperation between China and the US.

Starting next month, China will add fentanyl-related substances to a supplementary list of controlled narcoti

cs and psychotropic substances used for nonmedical purposes, authorities said on Monday.

Trump also said that a trade deal with China is good for both countries and the world as well.

“A trade deal between the two economic giants would help alleviate global gro

wth concerns, provide a much-needed global confidence boost and lift markets,” Gre

gory Daco, chief US economist at Oxford Economics, said in a report on Thursday, according to The Associated Press.

www.njywsh.com

First video call on Shanghai’s 5G networktwork backed by

Shanghai claimed it has developed the world’s first district with both 5G coverage and a broadband gigabit network.

Trial runs of the 5G network, backed by telecom carrier China Mobile, officially started Saturday i

n Shanghai’s Hongkou district, where 5G base stations had been deployed over the last three months to ensure full coverage.

During a launch ceremony, Shanghai vice-mayor Wu Qing made the net

work’s first 5G video call on an Huawei Mate X, the world’s first 5G foldable, AI phone.

When fully operational, subscribers stand to avail of the same service without having to upgrade their SIM cards.

The city aims to build over 10,000 5G base stations by the end of

this year, and that figure is expected to surpass 30,000 in 2021, said Zhang Jianming, deputy direc

tor of the Shanghai Municipal Economic and Informatization Commission, the local telecom and industry regulator.

shlf11.cn

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.

www.qzof2.cn

With UK politics in disarray, there’s still a risk the country

  will leave the European Union without a transitional deal to protect trade. The Ba

nk of England has said the fallout from that scenario would be worse than the 2008 financial crisis.

  The big Brexit slowdown

  The United Kingdom was the fastest growing G7 economy when voters went to the polls in 2016. E

mergency action by the Bank of England helped the UK economy avoid the recession that some had

predicted would follow a vote in favor of Brexit, and unemployment remains very low.

  But the country still fell toward the bottom of the G7 rank

ing. Economic growth has slumped from an annual pace of around 2% to less than 1% now.

  Investment by UK companies stalled after the referendum and then plunged 3.7% in 2018. Me

anwhile, the rest of the G7 has seen business investment grow around 6% a year since the vote.

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Sports participation, as part of all-around education, sho

uld be given a more prominent role on campus, whereas now acade

mic excellence seems to be the main priority in our country,” Yao told China Daily on Sun

day in Beijing during the annual session of the country’s top political advisory body.

“Building organized and accessible sports competitions with tailor-made programs and adequate facilities is the key to involv

ing as many students as possible,” said Yao, who is chairman of the Chinese Basketball Association.

At last year’s two sessions, he proposed implementation of a “m

ini basketball” program for younger students. It saw 10,000 participants registered with the CBA

sign up for some 15,000 teams that competed regularly in 192 cities across the country over the past year.

www.gzbbnet.com