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.

www.shlfao.com

To make up for the increasing savings gap, the US need

eds to introduce and use more foreign capital, which will further enlarge

the trade deficit. Therefore, the US cannot simultaneously maintain a high growth r

ate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.

What is really questionable is that, despite its contempt for over-regu

lation of the economy, the US administration has been trying to impose regulations on int

ernational trade, even for its trade partners’ domestic economic management.

Results for US may be unsatisfactory

The US administration’s more often than not conflicting goals have

resulted in the trade conflicts with China and other countries. For instance, China’s exports to t

he US grew 11.3 percent and its trade surplus with the US increased to $323 billion in 2018, up 17.3 percent year-on-year.

www.shlfas.com

Yanqing and Zhangjiakou are preparing another 10 ven

ues, including existing ski resorts and some newly built projects, to host all eight Olympic snow

sports in 2022. The three clusters will be connected by a new high-speed railway, which will be com

pleted by the end of this year. It looks beyond the Games to boost future winter sports tourism.

According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the first t

est event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.

About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hec

tare forest reserve has been built nearby for transplantation of all the trees affected by the construction.

“The preparations are ready to step up to the next stage, from planning to the readiness

phase. Beijing is ahead in the race against time,” said Liu Yumin, director of the planning, construction and

sustainable development department of the 2022 Olympic Organizing Committee.

www.shhuaju.cn

China to build new FTZ in Yangtze River Deltaised in stacks at th

China is planning to build a new Free Trade Zone in the Yangtze River Delta region, China Business Network reported on Wednesday.

Deputy Director of the Shanghai Development and Reform Commission Zhu Min made t

he announcement at a press conference on promoting high-quality development on Wednesday in Shanghai.

Although Zhu didn’t reveal the exact location of the new FTZ, S

uzhou Industrial Park in East China’s Jiangsu province is expected to be the spot.

Suzhou Industrial Park said to a CBN reporter the FTZ is a national-level plan and the park hasn’t got any news yet.

Zhu emphasized the Shanghai Pilot Free Trade Zone should cooperate with other FTZs in th

e Yangtze River Delta to play a greater role in leading high-quality development in the region.

chenbobupin.cn

West said he has been single for more than eight years

 and so far, he’s still enjoying it. “And I’ve been through bad relationships — they are horrible.”

He said his lifestyle is healthier when he is single, and he is also more focused on his own business than when in a relationship.

“But if I meet the right girl, then sure I’ll lay my cards on the table and go all in,” West added.

Just as West indicated, more studies now show that single people are becoming healthier, both mentally and physically.

A 2017 study published in the Journal of Women’s Health found that un

married women are living healthier than ever before. They had lower body mass indi

ces, waist sizes and risks related to smoking and alcohol, compared with married individuals.

“A bad marriage is actually a health risk — people who are unhappily married have highe

r blood pressure and lower immune systems than happily married or single people,” Coontz said.

www.wkvipweb.cn

Mandatory payments by air carriers to the Civil Avia

tion Development Fund will be halved. Charges for national cultural programs supported by cen

trally administrated enterprises and institutions will be cut in half, effective until the end of 2024.

It was also decided at the meeting to reduce mobile internet service rates and lower broa

dband service rates for small and medium-sized enterprises by about 180 billion yuan in 2019.

The State Council also decided to trim average electricity prices for gene

ral industrial and commercial businesses, lower prices for rail freight transport, cut or

merge port charges, and cancel charges for the certification of citizens’ personal ID information.

The measures identified at the meeting on Wednesday are the most recent moves for fee reductio

ns following the lowering of the social insurance contribution rate. Full delivery of these measures is expec

ted to lighten the fee burden on companies and individuals by more than 300 billion yuan in 2019.

shlf88.cn

On the other hand, policies to stabilize growth also contr

tribute to deleveraging, Hu said.

“The large-scale reduction of taxes and fees could efficiently reduce burdens on enterpris

es and strengthen their ability to repay debts and absorb equity financing,” she said.

Zhu Min, chair of the National Institute of Financial Research at Tsinghua University, sai

d it is clear that China will “move more on fiscal policy than monetary policy” to offset short-term economic challenges.

This year’s tax and fee cut on enterprises-worth nearly 2 trillion yuan ($297.8 billion)-is “really encouraging”, which will

improve their productivity and efficiency, said Zhu, a former deputy managing director of the International Monetary Fund.

The debt level, especially for State-owned enterprises, is still high, Zhu said, making i

t necessary to continue deleveraging to contain risks and achieve sustainable growth.

ash33.cn

Second, to achieve socialist modernization by 2035, the propo

ortion of the primary, secondary and tertiary industries in GDP should be roughly 3 percent, 32 percent and 65 perc

ent, just like it was for the developed countries when their per capita GDP reached 35,000 international dollars in PPP

terms. Which means China should focus on developing the service industry, especially the high-end service industry.

China should also maintain a high ratio of manufacturing industries, especially those related to key technolog

ies, in the GDP, as it is difficult to maintain a high TFP growth rate by depending on the agricultural and service industries.

To achieve such an industrial structure, the authorities should adjust the labor force distributio

n. Global experience suggests the working population declines in the primary industry and increases in th

e tertiary industry with the increase in per capita income and improvement in people’s living condition.

www.ashlt.cn

While speaking to some national political advisers, many

told me that improving innovation capabilities to drive develop

ment and deepen institutional reform, and using science to help build a moderately pr

osperous society in all respects are expected to remain priorities during their discussions at the two sessions.

Last year, China began pilot programs that aim to streamline the administration of scientific aff

airs, promote innovation and efficiency, and grant more autonomy to science workers. The Ministry of Sc

ience and Technology said in January that China will revamp its state key laboratory system.

Zhao Jindong, a CPPCC National Committee membe

r and a CAS academician, said these institutional reforms will have a profound impact on Chin

a’s scientific landscape, but how they will be implemented is still being formulated, and their effects remain to be seen.

www.chengdeyujia.cn

Investment can create ‘virtuous circle’ for CPECtan-based Is

After a suicide attack claimed by the Pakistan-based Islamist militant group Jaish-e-Mohammad (JeM) ki

lled at least 40 Indian paramilitary troopers in the Pulwama district, India has said it will en

sure the isolation of Pakistan in the international community and withdraw the Most Favored Nation status given to Pakistan.

China firmly opposes and strongly condemns all forms of terrorism. The country, also a victim of terrorism, is exp

ected to do what it can to provide support and assistance to India to enhance anti-terrorism cooperation.

However, if the terror attack leads to political and economic isolation, ordinary Pakistani p

eople will become the scapegoat of JeM. Poverty has more of a role in terrorism than some Indian ex

perts may believe. If foreign aid and investment can help Pakistan eliminate poverty, the growth environment for terrorism will be destroyed.

“China is promising about $3.5 billion to help bolster Pakistan’s dwindling foreign cash reserves” and pay fo

r the country’s socioeconomic development plans, the US-based Voice of America reported last week. Although the Chinese government ha

s not confirmed the news, it is unlikely that China will change its supportive attitude on the China-Pakistan Economic Corridor (CPEC).

www.shg419.com