Month: July 2019
n the first half of 2019, a total of 6.86 million used cars
亚博体育yb夜网were sold across China, up 3.9 percent year-on-year. Overall sales hit 43.4 billio
n yuan, according to the latest data from the China Automobile Dealers Association.亚博体育yb夜网品茶微信
Luo Lei, deputy secretary-general of the China Automobile Dealers Association, said earlier that the booming market is tha
nks to the central government’s decision to remove limits on the flow of used vehicles across regions.
亚博体育yb夜网Since last year, China has ramped up efforts to scrap limits on cross-region flow of used
cars, as part of the country’s broader push to make the automobile industry globally competitive.
“This will encourage consumers to switch cars more frequently and
help enterprises to adjust their plans and explore untapped demand,” Luo said.亚博体育yb夜网品茶微信
China has about 240 million cars on the road, data from CADA showed, yet about 78 percent are from first-and second-tier cities.
“But demand for used vehicles chiefly comes from consumers in small cities, resulting in huge dema
亚博体育yb夜网品茶微信nd-supply imbalances geographically,” according to data from Youxin, an online used car dealer.
To tap into the demand, major car dealers including Renrenche, Youxin and CA
RS are all gearing up to enter more cities and provinces to boost market share.亚博体育yb夜网
Major ride-hailing firm Didi is also entering the mar
ket by buying used vehicles directly from Renrenche in a bid to lower costs.
亚博体育yb夜网品茶微信”The transaction volume between the two sides is likely to exceed
2 million vehicles in three years,” said Renrenche in an earlier statement.
Major internet behemoths are also joining the fray.
er capita from 2010 to 2020 and clearly will reach that goal.
亚博体育yb千花网女神会所Nicholas Lardy, an often-cited Washington-based expert on the Chinese economy, argues i
n his recent book?The State Strikes Back: The End of Economic Reform in China?that China could have co
亚博体育yb千花网ntinued to grow at 10 percent per year throughout this decade if not for policy mistakes.
His core argument is that Japan and South Korea continued high growth r
ates until they reached GDP per capita equal to 60 to 70 percent of the US, so why can’t China?亚博体育yb千花网
With all due respect, I think this is a silly argument. The early growth in both Japan and South Korea was based on for
亚博体育yb千花网eign demand for exports. In South Korea, these exports were manufactured largely by state-led companies.
China is a much larger economy. There is not enough potential import demand in the worl
d to continue as a main driver of the economy’s growth. It takes longer to grow organically from domestic demand.
亚博体育yb千花网女神会所Japan saw very fast economic growth from the 1950s to the 1970s based on technological c
atch-up and on fast export growth to the US. The export industries of Japan – mostly cars and electronics –
are extremely competitive. But, much of the domestic economy is protected and inefficient.亚博体育yb千花网
A series of trade disputes with the US in the 1970s and 1980s culminat
亚博体育yb千花网女神会所ed in the Plaza Accords in 1985 that limited Japanese exports to the US and forced Jap
an to roughly double the value of the yen. So, export-led growth was no-longer an option.
Instead of opening-up and reforming its domestic economy, Japan first chose to use monetary stimulus in the late 1980s, which亚博体育yb千花网
resulted in an immense real-estate bubble and led to the real-estate and stock market collapses in 1990 to 1992.
Through the 1990s and 2000s, Japan then tried to use very large infrastructure investm亚博体育yb千花网女神会所
ents to stimulate the economy. This just resulted in negligible growth, ecological damage and a government-d
ebt-to-GDP ratio of more than 200 percent – by far the highest in the world. In contrast, China’s strategy of str
uctural reform, opening up, and increasing domestic competition will lead to more sustainable GDP growth.
China’s courier sector keeps steady expansion in the firs
亚博体育yb贵族宝贝女神会所t half of the year (H1), according to the State Post Bureau (SPB) Thursday.
The combined revenue of the sector in domestic marke
t hit 213.8 billion yuan ($31.08 billion), up 18.3 percent year on year, SPB data showed.亚博体育yb贵族宝贝
A total of 27.13 billion parcels were handled during the period, up 25.8 percent from
亚博体育yb贵族宝贝女神会所a year ago, and June alone saw 5.4 billion parcels delivered, according to the SPB.
Cross-border courier services rebounded fast thanks to the cou
ntry’s preferential policies, booming online retail sales and higher clearance efficiency.亚博体育yb贵族宝贝女神会所
The business revenue of the cross-border service increased 16.9 percent to 33.86 billion yua
亚博体育yb贵族宝贝n in H1 compared with a year ago, with 630 million parcels delivered during the period.
China plans to extend the courier network and improve computer systems, services and in
ternational connections by 2020, when the target annual revenue of the courier sector will hit 800 billion yuan.亚博体育yb贵族宝贝女神会所
Firms ramping up innovation efforts in new sectors like high-quality drugs and biologics
亚博体育yb贵族宝贝As China moves forward from being the world’s manufacturing powerhouse t
o an innovation-driven economy focusing on high-quality development, the innovation capa
bilities of Chinese pharmaceutical companies have been growing steadily, reflected by t亚博体育yb贵族宝贝女神会所
he rapid development of domestic biologics and innovative medicine sector, industry people said.
亚博体育yb贵族宝贝According to the Center for Drug Evaluation under China’s Natio
nal Medical Products Administration, it granted approvals for 91 drugs with prio
rity review status in the first half of this year, among which, 65 were domestic drugs while 26 were imported.亚博体育yb贵族宝贝女神会所
In fact, clinical trial and market approval application
s for high-quality biologics and innovative drugs have been increasing in China.
d her mother from 7 years ago at a local hospital in Naidong county, Shannan, Tibet autonomous region
, on July 13, 2019. In 2012, she underwent heart surgery at Wuhan Asia Heart Hospital, which was a complete succes亚博体育yb千花坊女神会所
Five-year-old Le Le and 18-month-old Meng Meng from the impoverished Jingyuan county,
亚博体育yb千花坊Guyuan, Northwest China’s Ningxia Hui autonomous region, also benefitted from the hospital’s program.
In April of this year, the younger sister Meng Meng was diagnosed with congenital heart disease in
a medical examination organized by the hospital, after亚博体育yb千花坊女神会所
her elder sister Le Le received a similar diagnosis in a kindergarten physical check-up not long ago.
亚博体育yb千花坊A congenital heart surgery usually costs around 25,000 ($3,638) to 40,000 yuan ($5,821), whic
h placed a tremendous amount of pressure on the family
with six daughters, one working parent and over 60,000 yuan of debt.
After learning about the family’s financial difficulties, the expert team helped the gir亚博体育yb千花坊女神会所
ls apply for a special fund, which covers more than 80,000 yuan of the total medical expenses.
亚博体育yb千花坊In mid May, the two sisters went to Wuhan with more than a dozen children wi
th congenital heart diseases in Ningxia Hui autonomous region. Tao and Wang Xiao, d
eputy head of cardiothoracic surgery department, performed the surgery on the girls with success.
Tao said “it is not diffic亚博体育yb千花坊ult to do good deed. What’s challenging is to keep
doing them and encourage people around you to participate in these activities.” He hopes
亚博体育yb千花坊that Wuhan Asia Heart Hospital’s efforts will help cure more patients and make their dreams come true.女神会所
Medical programs organized by Wuhan Asia Heart Hospital have provided heart operations
for 40,000 children and teenagers from a number of regions including Guizhou province, Ningxia Hui auto亚博体育yb千花坊
nomous region and Tibet autonomous region since its establishment. A total of over 9,600 junior co亚博体育yb千花坊女神会所
ngenital heart disease patients who come from impoverished families have benefitted from free heart surgeries.
By the end of 2019, the hospital aims to see its 10,000th patient, whose life will be greatly improved by the heart surgery.
?officer who was sacked in 1994 and sentenced to prison in 1998 for covering up her son’s rape case.
?亚博体育yb419论坛女神会所Sun’s stepfather Li Qiaozhong was once a deputy police chief in the Wuhua district of Kun
ming, and was removed from the position in 1998 for helping Sun get out of jail illegally
South Korea – An internal balcony at a nightclub in South Korea collapsed on Saturday, killing two?亚博体育yb419论坛
people and injuring 16 including American and other athletes at the world swimming championships, officials said.
?亚博体育yb419论坛女神会所Hundreds were at the nightclub in the southern South Ko
rean city of Gwangju when the collapse occurred next to the athletes’ village.
Two South Korean men died while 16 others were injured, police
said. According to a police account, the injured include 10 foreigners, eight of them ath?亚博体育yb419论坛
letes who were in Gwangju to participate in the swimming championships.
?亚博体育yb419论坛女神会所Among the athletes were three Americans, two New Zealande
rs, one Dutch, one Italian and one Brazilian, a police officer said, requesting anonymity ahe
ad of an official announcement. He said most had minor injuries but an American female water polo player requ?亚博体育yb419论坛
ired surgery. The other two Americans — a man and a woman — are also water polo players, the police officer said.
Police said they detained one of the nightclub’s co-owners and summoned three othe
?亚博体育yb419论坛女神会所r club officials to investigate whether the collapsed balcony was an unauthorized structure.
“This is an awful tragedy,” said Christopher Ramsey, CEO of USA Water Polo. “Players from our
men’s and women’s teams were celebrating the women’s world 女神会所championship victory whe?亚博体育yb419论坛
n the collapse occurred at a public club. Our hearts go out to the victims of the crash and their families.”
?亚博体育yb419论坛Among the Americans, Kaleigh Gilchrist suffered a deep left leg laceration and underwent surgery at a hospital in Gw
angju, said Greg Mescall, director of communications for?亚博体育yb419论坛女神会所
USA Water Polo. He said that Paige Hauschild suffered
lacerations on the right arm and Johnny Hooper on the left hand that required stitches.
Industry insiders said many challenges still remain for related businesses, including a lack of supervision and licenses.
亚博体育yb楼凤品茶微信Currently, processing garbage in China requires a license, which includes diff
erent categories such as kitchen, domestic, and construction waste removal.
“Also, people are still passive participants,” said Yang Guisheng, a senior partner at leading law firm Den亚博体育yb楼凤
tons. “While people are still at an early stage of habit cultivation, the government plays an important guiding role.”
He said that related rules and regulations should be formed gradually during this process.
亚博体育yb楼凤品茶微信”With rules being set, problems related to licenses, land use and whether work should
be undertaken by State-owned companies or private ones can all be solved,” he said.
Perfect composition, organized chaos and bright, vibrant colors are what make viewers decide to follow British travel photog亚博体育yb楼凤品茶微信
rapher Jord Hammond’s Instagram account (jordhammond) in the first few seconds.
Scrolling through the potpourri of appealing scenes he’s captured from around the globe, wi
亚博体育yb楼凤th Asian countries in his cross-hairs, one can’t help but gleefully get glued to his page.
Amazingly, the 25-year-old travel influencer is quite a novic
e in photography, as marketing and advertising was his major at university.亚博体育yb楼凤
Despite that, the gifted photographer has already distinguished himself from other
s in the industry with his unique voice; meanwhile, his visually stimulating f
亚博体育yb楼凤品茶微信eed has kept sparking wanderlust in his viewers, who’d follow his steps to places where his shots were taken.
A folk music festival kicked off in Chuxiong Yi autonomo
us prefecture of Southwest China’s Yunan province on July 22, bringing together亚博体育yb楼凤
more than 270 singers and musicians from 21 ethnic groups to perform their folk songs.
The four-day event, organized by the Ministry of Culture and Tourism and the government of Southw亚博体育yb楼凤品茶微信
est China’s Yunnan province, aims to showcase the charm of traditional Chinese culture, the divers
亚博体育yb楼凤ity and originality in Chinese folk music as well as the creativity of the Chinese from different ethnic groups.
According to Hu Yan, an official from the ministry, the festival is being held to protect
intangible cultural heritage and boost exchanges between various genres of folk music.亚博体育yb楼凤品茶微信
As part of the event, art troupes are staging performances in communities and villages an
d symposiums are being held to discuss how to better pass down these cultural treasures.
utional investors, gradual proliferation of product development, and initial signs of fee reductions have been driving the future gr
亚博体育yb龙凤419owth of China’s ETF market,” said Ray Chou, a partner with Oliver Wyman and co-author of the report.
For example, the E Fund ChiNext ETF, the biggest ETF that tracks the startup board in Chi
na, has seen increases in the number of institutional and retail investors holding亚博体育yb龙凤419品茶微信
shares, with more than 480 percent and 340 percent growth from 2017 to 2018, respectively.
He suggested that fund management companies develop differentiat
亚博体育yb龙凤419ed propositions to address investor needs, with pensions being a particularly prom
ising area thanks to the philosophy of long-term investment commitment and stable returns.
China offers consumers three ways to save for retirement – the national pension sys亚博体育yb龙凤419品茶微信
tem, voluntary occupational pensions, in the form of annuities and covering only a min
亚博体育yb龙凤419品茶微信ority of the population, and private savings, said Fang Lianquan, a researcher at the Cen
ter for International Social Security Studies of the Chinese Academy of Social Sciences.
“With regulators giving the green light to pension targeted securities investment funds last year, targeted security investm亚博体育yb龙凤419
ent funds, which fall into the third category, are quickly gathering pace in China,” Fang said.
亚博体育yb龙凤419″In China the retirement or pension market is on the rise. As regulators started to en
courage commercial pensions, that’s definitely an area that players should look into,” Chou noted.
A report from the Chinese Academy of Social Sciences released la亚博体育yb龙凤419品茶微信
st year said that the pension gap in China would expand to 890 billion
亚博体育yb龙凤419yuan by 2020, but the nation’s younger generation seemed ill-prepared for their later years.
According to a survey jointly conducted by investment fu
nd Fidelity International and internet giant Ant Financial last A亚博体育yb龙凤419品茶微信
ugust, Chinese people aged between 18 and 34 believed they need at least 1.63 million
yuan for a comfortable retirement. But in fact, they have average monthly savings of only 1,339 yuan per capita.
The joint conference should hold meetings as needed, record the minutes, and del
亚博体育yb419品茶微信iver the printed minutes to related departments. Important items should
be reported to the Central Committee of the Communist Party of China and the State Council.亚博体育yb419
He Lifeng, head of NDRC, was appointed as the convener of the conference.
亚博体育yb419The Shanghai Financial Court has set up a team of judges to deal with po
ssible lawsuits related to the newly launched science-technology innovation board.亚博体育yb419
The team, comprised of high-performing judges experienced in financial and commercial trials, will provide timely and effective
judicial service to any business parties involved, the court said on Tuesday as it unveiled a 23-article policy to
亚博体育yb419品茶微信provide legal support to the new Nasdaq-style board, STAR, that opened at the Shanghai Stock Exchange on July 22.
Such a tribunal is an effort to fast track court procedures, whic
h include registering for a lawsuit, conducting case investigations and court hearings to enforc亚博体育yb419
ing compensations, and safeguarding the rights and interests of the parties involved. English services will be available when filing lawsuits both at the
亚博体育yb419品茶微信court and online, said the court, the country’s first devoted exclusively to financial cases.
The policy also included selecting experts and scholars from financial regulatory age
ncies, financial institutions and relevant research institutes to serve as assesso亚博体育yb419
rs – members of the public who assist judges and evaluate evidence – and participate in case reviewing and trials.
Considering the market influence of the cases related to the new board and the guiding role of the ruling of such cases, the cour亚博体育yb419
t will allow individuals and organizations with expertise in the professional area related to a case – and who de
monstrate no conflict of interest – to submit their publicly written opinions on the case.亚博体育yb419
“The goal is to better improve the quality, efficiency and credibility of judicial adjudicati
亚博体育yb419品茶微信on in such financial cases,” said Xiao Kai, president of the Shanghai Financial Court.
Demonstration cases – an approach the court has used to solve securities disputes
since January – will also be adopted in dealing with lawsuits related to the new boa亚博体育yb419品茶微信
rd involving listed companies suspected of making false statements and leading to
economic losses for a vast number of investors from various regions of the country, the court said.
ve enjoyed the fastest economic growth in China recent years, the report said, especially Guizhou province and Ch
亚博体育yb后花园亚博体育yb后花园ongqing in the upstream, and Jiangxi, Anhui, Hubei and Hunan provinces in the middle stream.
South China’s Guangdong province enjoyed year-on-year foreign trade growth of 1.3 perce亚博体育yb后花园
nt, thanks to the big increase of the import and export volume with the European Union and the Asso
亚博体育yb后花园亚博体育yb后花园ciation of Southeast Asian Nations (ASEAN) in the first half of the year, Guangdong customs said on Tuesday.
Guangdong’s foreign trade with the European Union witnessed year-on-year grow亚博体育yb后花园亚博体育yb后花园
th of 13.3 percent to hit 410.67 billion yuan (about $60 billion) in the first six months, representing 12.5 pe
rcent of the province’s total, according to statistics released by Guangdong customs on Tuesday.亚博体育yb后花园
The southern province’s import and export volume with ASEAN climbed to 439.95 billion yuan from January to June,
亚博体育yb后花园亚博体育yb后花园up 5 percent year-on-year and accounting for 13.4 percent of the province’s total.
The steady foreign trade growth with European Union and ASEAN has helped the province, China’s
biggest foreign trader, offset the foreign trade decline with the United States since the beginning of the year.亚博体育yb后花园
Guangdong’s foreign trade with the United States was 378.44 billion yuan in the first s
亚博体育yb后花园ix months, a year-on-year decrease of 3 percent and representing 11.5 percent of the total.
Guangdong’s imports and exports with the neighboring Hong Kong Special Administrat亚博体育yb后花园亚博体育yb后花园
ive Region came to 500.18 billion yuan between January and June, a slight reduction of 0.7 percent year-on-year.
Guangdong, the window of China’s reform and opening-up, recorded a foreign trade v亚博体育yb后花园
olume of 3.28 trillion yuan in the first six months, accounting for 22.4 percent of the country’s total.
The province, one of the country’s economic powerhouses, generated an exp亚博体育yb后花园亚博体育yb后花园
ort volume of 1.98 trillion yuan in the six months ending in June, up 3.9 percent year-on-year. But Guangdong’s imp
orts saw a year-on-year decline of 2.5 percent to come to 1.3 trillion yuan in the first half of the year.
?medium-sized airport, said Vicki Mou, chief of corporate communication & policy resear
ch office of Macao International Airport. Besides regional business aircraft services, the airport focu亚博体育yb会所
ses on Southeast Asian market, connecting Macao and many attractions in the Philippines, Thailand, Malaysia and
亚博体育yb会所品茶微信some other Southeast Asian countries, which enriches international routes in the Greater Bay Area, said Mou.
An aerotropolis with high economic efficiency 亚博体育yb会所
“Our vision is to engineer our city’s airport to become an aerotropolis with high econom
亚博体育yb会所ic efficiency and diversified employment opportunities,” said Carrie Lam, chief executive of the Hong Kong SAR.
Hong Kong is gearing up to play an even more important role in the aviation sector. Hong Kong Inter亚博体育yb会所品茶微信
national Airport currently has two runways and began its three-runway system construction in 2016.
亚博体育yb会所The new whole three-runway system will come into operation in 2024 toge
ther with a new passenger building, a new automated people mover, a new baggage han
dling system and expansion of the existing Terminal 2 into a full-service processing terminal.亚博体育yb会所
The revamped airport will be able to accommodate 620,000 flight movements annually, welcoming about 100 million pa
亚博体育yb会所品茶微信ssengers and handling some 9 million tonnes of cargo a year, said deputy director of airport operations Cheung.
Last year, the Hong Kong section of Guangzhou-Shenzhen-Hong Kong Express Rail Link and Hong Kong-Zhu
hai-Macao Bridge was inaugurated, further tying up the Hong Kong SAR and the Chinese mainland.亚博体育yb会所
With its airport sitting right at the heart of the “double gat
亚博体育yb会所品茶微信eway” linking the Greater Bay Area at one end and to the world at the other, Hong Kong offers seaml
ess air-to-land and air-to-sea connections with a huge number of nearby destinations.