Archive May 2019

Over 80 percent believed internship experience on the

e mainland will improve their competitiveness, and most expected to learn more of the vocational culture and work environment.

The HKUYA Student Exchange Network, an organization unde

r the Hong Kong United Youth Association, launched this year’s summer internship program on Wednesday.

More than 200 Hong Kong college students will go to Beijing, Shanghai, Harbin and Dalian to take part in a six-week

program. They will work in government organs, State-owned enterprises, cultural and business institutions.

Stanley Choi Tak Shing, honorary chairman of the student exchange network, said he hoped students would learn

more about the country’s development through the internship, especially those who want to work on the mainland.

A student who will work in the Mei Lanfang Theater in Beijing this summer vacation said she wanted to work in the art indu

stry after graduation, and expected to learn more about the industry through the internship.

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Chinese investment in the United States is creating go

ood jobs in areas that are poor, where good jobs are needed,” he said. “We should celebrate that advancement of econ

omic opportunity in the United States. And similarly, we should expand US investment in China.”

US goods exports to China declined by 7 percent in 2018, as trade disputes between

the two economies began to bite, but still outpaced growth in exports to the rest of the world over the past decade, ac

cording to the 2019 State Export Report released earlier this month by the US-China Business Council.

The report said China continued to be important to US economic growth, supporting more than 1.1 million jobs.

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Multiple channels needed to keep job market healthy

The Chinese government has accorded priority to achieving stable and expanding employment

among its six stabilization tasks. The importance of stable employment has also been highligh

ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp

loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues.

The government is making special efforts to stabilize and expand employment, especially be

cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade.

The China Institute for Employment Research of Renmin University

of China has calculated the employment market index, which shows the health of th

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video of Liu competing in an international English spee

ech competition in 1996 in London was sent around Chinese social media, the US website qz.com reported.

“While the Western world views Liu as an unapologetic champion of China’s agenda, many mai

nland citizens regard her as a national heroine defending her country from hostile foreign influences,” Newsweek reported.

On Monday, Regan tweeted: “I look forward to hosting Ms Liu – in a FIRST OF ITS KIND debate on trade – LIVE from Beijing & New York.”

Beijing on Wednesday set up a 5 billion yuan ($724 million) fund to spur development of the fift

h-generation or 5G mobile technology industry, its latest effort to gain an edge in the commercialization of 5G tech.

The fund was established jointly by the Beijing Science and Technology Innovation Investment Management Co Ltd, Beijing

Yizhuang International Investment and Development Co Ltd and State-owned China Jianyin Investment Lt

d. It will focus on investing in leading high-tech firms across the entire 5G industrial chain.

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The postponement certainly will influence the festive atm

tmosphere in the city during the Duanwu Festival, said the official. But the decision has been t

aken for good reasons. It’s all about the children, an investment in the future, the official said.

More than 10 million students across the country will sit for the gaokao this year.

he much-anticipated debate between a Chinese anchorwoman and an A

merican counterpart on a prime-time TV show Wednesday night turned out to be more like

a Q&A session, with the host and her guest disputing everything from tariffs to China’s developing nation status.

But Trish Regan, host of Trish Regan Primetime on the Fox Business N

etwork, and Liu Xin, who anchors The Point on China Global Television Network, or CGT

N, seemed to agree that something must be done to break the impasse between China and the US, which are em

broiled in a protracted trade dispute with the Trump administration escalating tariffs and Beijing retaliating.

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Accelerating the opening up of China’s commodity futu

ures market will help foreign investors optimize their renminbi-denominated asset portfolios as they can inc

orporate investment targets of a wider variety, said Wang Tingting, an associate pro

fessor of finance with the Central University of Finance and Economics in Beijing.

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures market to foreign invest

ors, as they have large exposure in the A-share market and are therefore in need of this risk management tool.

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Li Daokui, director of the Academic Center for Chine

se Economic Practice and Thinking at Tsinghua University, said China “should be more confident” in accelerating open

ing-up of its financial sector, which will help global investors seize numerous opportunities in the Chinese market.

Domestic financial institutions are now capable of engaging i

n fiercer competition with global peers as their service abilities in many aspe

cts, such as banking and insurance, have improved a lot over the past years, Li said.

Despite headwinds from the trade tensions, global investors are still optimistic about China’s economic pro

spects, said Zhang Zhiwei, Deutsche Bank’s chief China economist and head of China equity strategy.

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On the other hand, and US consumers would be forced

d to bear the brunt of the tariff hike, because the tariffs will raise t

he prices of consumer goods. Besides, the higher tariffs will deal a blow to many US industries.

China’s countermeasure will have intended effect

The results of a quantitative simulation analysis show China’s counterm

easure of imposing tariffs on $60 billion of US goo

ds will have the intended effect, as the US’ losses are set to mount. According to the simulation analysis, China’s GDP, man

ufacturing jobs, exports and imports could reduce by 0.622 percent, 1.046 percent, 3.402 percent and 1.945 percent, w

hile that of the US could dip by 0.067 percent, 0.907 percent, 2.611 percent and 3.936 percent.

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The country will allow overseas investors to trade more

types of onshore commodity futures contracts without registering a Chinese entity, and will continuously improve the relate

d rules, Lu Dongsheng, an official with the China Securities Regulatory Commission, told a forum on Tuesday

Lu also announced other measures to develop China’s commodity fut

ures market, such as accelerating the launch of ricThe Shanghai Futures Exchange will open

up its nonferrous metals futures contracts to foreign investors, Jiang Yan, Party secretary of the exchange, said at the s

ame forum. The bourGuo Shuqing, head of the China Banking and Insurance Regulatory Commissiose will also list a n

ew type of futures contract, TSR20 Rubber, which will be available to both domestic and foreign investors, he sai

d.Lu also announced other measures to develop China’s commodity futures market, such as accelerating the launch of

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Talks with Vanuatu PM China seeks no private interests

and scope of influence in developing relations with Pacific island cou

ntries, and will be good friends and partners trusted by them forever, Xi said on Tue

sday. Xi made the remarks while meeting with visiting Vanuatu Prime Minister Charlot Salwai in Beijing. The Chi

na-Vanuatu relationship has become a good example of relations between China and Pacific island countries, Xi s

aid, adding political mutual trust between the two countries keeps d

eepening and exchanges and cooperation in various fields continue to expand.

Xi said the country appreciates Vanuatu resolutely adhering to the one-C

hina policy, and supports it independently choosing the development path that suits its

national conditions. Xi called for strengthening the alignment of the development strategy of the Pacific island cou

ntry with the BRI and tapping potential for bilateral pragmatic cooperation.

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