China will further open the financial market to welcom

China will further open the financial market to welcom

e more overseas investors in. The cross-border trade and investment will be more free and convenient, said Pan.

He called China’s economy stable, as the major economic indicators were within a reasonable range.

In April, the National Bureau of Statistics said the purchasing ma

nagers’ index for the manufacturing sector stood at 50.1, indicating expansion as the reading was above 50.

The broad money supply, or M2, increased 8.5 percent year-on-year by the end of April, compared with 8.3 percent a year earlier.

“The prudential monetary policy was focused on countercyclical adjustments this year, maintaining flexibility as well as

ample liquidity to promote fast growth of credit and strengthened support of private and small enterprises,” Pan added.

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So far, more than 47,000 people have received skating and

skiing training and the number will continue to rise, with expectations of 70,000 enrolled by the end of this year, he added.

He also said Yanqing has built more ski runs over the last two years, based on seasonal features and site conditions.

Some important events and testing activities are expected to be he

ld in Yanqing – for example, the 14th National Winter Games Alpine skiing speed events in 2020.

Zheng, the deputy commissioner, said schools in Yanqing also created some outdoor ice rinks when winter weather cond

itions allowed, while in summer, manmade ice would be a good choice for campuses to open up skating practice.

Yanqing will put more effort into increasing the number of qua

lified winter sports instructors, improving school curriculum and hastening constr

uction of winter sports venues to add more flavor to the upcoming Winter Olympics in China, he said.

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producers or US-based designers. For example, China ma

akes less than $9 from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.

It’s a good thing that China is no longer a low-wage country. Most Chinese are much better off than they were even 10 ye

ars ago. But it does mean that these low-skilled, labor-intensive industries will be moving to less-developed nations. US t

ariffs on such products will only serve to hasten the transition to higher value-added industries that China has to make anyway.

Roughly 20 years ago, when China’s admission to the World Trade Organiz

ation was being negotiated, China’s economy was tiny as a portion of world GDP. It was clearly a poor, less-deve

loped country that, except in a few areas, was not able to compete with Western companies in high-value-added products.

As Alexander Hamilton, the first US Treasury secretary, argued, a dev

eloping country may need to protect its “infant industries” from already established foreign

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A man giving his name as Million Zhao, who has nearly

 followers on Sina Weibo and works as a part-time commercial photogra

pher, said that virtually all his female clients ask him to alter their pictures digitally to mak

e them appear skinnier before they are posted online-even those who are already super-thin.

The 30-year-old also engages in “fat talk” with his fri

ends, and sometimes jokes about his rotund belly to his followers on Sina Weibo.

He said, “Different from women, guys my age or younger engage more in ‘mus

cle talk’ because they want to be bigger and stronger”, while many middle-aged men who h

ave gained weight get caught up in “fat talk”, as they “want to lose weight and be heathier rather than prettier.”

Denise Martz, a professor of psychology at Appalachian State University in

North Carolina, US, said, “Social media is giving women a false sense of how they usually look.

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Uber has also weathered controversies including revelati

ions of a culture of sexism and bullying at Uber and US Department of Justice investigations. After a series of embarrassments, Kalanick was forced to res

ign in 2017 by a group of investors. Uber then hired Khosrowshahi to lead the company.

Uber has said it has the potential to grow not just in the cab hailing business, but also as a “sup

erapp” to provide logistic services, such as grocery and food delivery, organizing freight tra

nsportation, and even financial services, much like Grab, its Southeast Asian counterpart.

But market experts have struggled to find value in a company that has consistently posted los

ses, and warned that it may never be profitable. “The business is unprofitable, new entrants can enter the ma

rket, there is potential regulatory risk, and it is very price sensitive. What is there to like about this opportunity?” Ro

bert Johnson, professor of finance at Heider College of Business, Creighton University in Omaha, Nebraska said.

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Govt should accelerate tax cuts to invigorate economy, pre

Premier Li Keqiang urged government departments to speed up the implement

ation of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturing, constructio

n and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measures in t

he past months, after the measures were introduced by Li in the Government Work Report in March. Th

ey also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision

made by the Communist Party of China Central Committee and the State Council. It has boosted

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anqing and Zhangjiakou are preparing another venues, in

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 completed by t

he 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 f

irst test 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-hecta

re 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, dire

ctor of the planning, construction and sustainable development department of the 2022 Olympic Organizing Committee.

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More nurses sought to treat elderly populationetition at a tra

Health authorities will redouble their efforts to train nurses in eldercare as the proportion of older people in the pop

ulation expands and tens of millions of people struggle with disabilities, a senior health official said on Wednesday.

Jiao Yahui, deputy chief of medical administration and supervision at the National He

alth Commission, said there are not enough nurses to cope with the growing needs of the country’s elderly.

A regulation on the training of healthcare workers and standards of service is being drafted. It i

s expected to boost the number of nurse’s aides, Jiao said ahead of International Nurses Day on Sunday.

The nurse’s aides will complement the work of full-fledged nurses to meet the demand for services for the elderly, she said.

The number of registered nurses in China topped 4 million as of the end of last year. Nearly 70 perc

ent held a junior college degree or above, accounting for almost half of all healthcare professionals, she said.

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Not only are there missing links on the causality chai

 between long-term structural factors and actual economic performance, it is also unclear how long those factors would take to constrain GDP growth to a part

cular level. In fact, 20 years ago, the same long-term factors were used to warn of a possible fall in Chinese GDP growth.

Because of the complexity of China’s growth trajectory, many economists seem to base their assessments of potenti

al on performance. After every drop in China’s GDP growth since the second quarter of 2012-when growth fell be

low 8 percent-economists have emerged to declare that performance was in line with potential.

Difficult to determine potential growth rate

To be sure, there are various estimates of China’s potential growth rate, ranging from 5 perc

ent to 8 percent. But it is difficult to determine which is reliable. For one thing, there is reason to believe that

most estimates fail to discount cyclical factors adequately when calculating the long-term trend.

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Manufacturing remains in expansion territoryoducts at

The growth of manufacturing activity in China eased in April but remained within expansion territory, adding to the confidence that the country’s economy is stabilizing.

The purchasing managers index for the country’s manufacturing sector came in at 50.1 in A

pril, slightly down from 50.5 in March, the National Bureau of Statistics said on Tuesday.

A reading above 50 indicates expansion, while one below it reflects contraction.

Senior NBS official Zhao Qinghe said in a statement that factory activity continued a steady ex

pansion in April, with the subindexes for production and for new orders standing respectively at 52.1 and 51.4. T

he readings are slightly lower than those in March, but they are higher than the average performance of the first quarter.

“Market demand is driving a stable growth in production,” Zhao said, adding strong growth in e

merging industries, such as high-tech and equipment manufacturing, also contributed to the steady performance.

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