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erves, the country has seen stable and fast economic growth in the past four decades, with lowe

r inflation. Thanks to the reserves, China can also benefit from a favorable international trade and fina亚博体育网上注册乌托邦

ncial environment in the long term, Chen Yuan, a former deputy governor of the central bank and former vice-ch

irman of the Chinese People’s Political Consultative Conference, said at a forum on Aug 10.

亚博体育网上注册乌托邦品茶微信”Previously, we identified the foreign exchange reserves as an important milestone for ec

onomic development and society’s core wealth. Now, we have to reposition the foreign exchange market,” he added.

According to Chen, faced with new challenges, including foreign exchange rate issues raised by the United States rec亚博体育网上注册乌托邦

ently, the priority is to keep these reserves safe, and strengthen the renminbi’s position globally.

Chen sees potential in foreign exchange rate risks, as the majority of China-reserved foreign assets are in US dollars.

Currency composition亚博体育网上注册乌托邦品茶微信

Late last month, the State Administration of Foreign Exchange, or SAFE, C

hina’s forex regulator, said the country’s foreign exchange reserves held in US dollars

亚博体育网上注册乌托邦accounted for 58 percent of the total by the end of 2014, down from 79 percent in 1995.

Among global foreign exchange reserves, assets held in US dollars comprised 65 percent of

the total by 2014, up from 59 percent in 1995, according to SAFE’s annual report last year.亚博体育网上注册乌托邦

For the first time, SAFE made public the currency composition of the

forex reserves, after first reporting data to the Currency Composition of Foreign

亚博体育网上注册乌托邦Exchange Reserves, or COFER, an International Monetary Fund database, in 2015.

According to COFER, which keeps quarterly data on the currency composition of official亚博体育网上注册乌托邦品茶微信

foreign exchange reserves, the world’s forex reserves reached $11.59 trillion in the fir

st quarter of this year. Some 58.14 percent of the total was in US dollars, compared with 1.8 percent in renminbi.

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encourages progress 亚博体育网上注册419 SeaPresident Xi Ji

President, Duterte pledge efforts on code of conduct, sign deals on cooperation

?亚博体育网上注册419品茶微信President Xi Jinping said on Thursday that China and the Philippines should commit t

hemselves to push forward the Code of Conduct in the South China Sea so it can be finished as early as possible.

Xi made the remark when meeting with Philippine President Rodrigo Duterte, who is on?亚博体育网上注册419

a five-day visit to China that started on Wednesday, at the Diaoyutai State Guesthouse in Beijing.

Xi described the code of conduct as a creative way to set rules for the resolution

?亚博体育网上注册419of the South China Sea issue. He called on the two countries to make joint efforts to put aside differences and exc

lude external disturbances in order to focus on cooperation and development to safeguard regional peace and stability.

He underlined the need for both countries to take bigger s

teps in the joint exploration of the oil and gas resources in the South China Sea.?亚博体育网上注册419品茶微信

The two countries announced on Thursday the establishment of an

intergovernmental joint steering committee and an inter-enterprise work team?亚博体育网上注册419

on the joint exploration for oil and gas in the South China Sea to strive for substantial progress at an early date.

?亚博体育网上注册419They also concluded six agreements, which involve areas such as cust

oms, higher education, science and technology and economic and social development.

On the bilateral relationship, Xi told Duterte he stands ready to work

with him to guide the sound development of Sino-Philippine relations to bring benefits to the?亚博体育网上注册419品茶微信

two nations and two peoples, and also to add positive energy to regional peace and stability.

He called on the two countries to strengthen synergy between the China-proposed Belt and Road Initiative and the Philip

?亚博体育网上注册419pines’ “Build, Build, Build” program and to do a good job impementing cooperation projects in ar

eas of infrastructure construction, industrial parks, telecommunications and energy.?亚博体育网上注册419品茶微信

Duterte said he supports the peaceful resolution of the South

China Sea issue through cooperation instead of confrontation.

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I did some ‘homewor亚博体育网上注册夜网online before I cam

There are so many people hoping to buy the toys. It depends on luck,” says Kan.

Kan came to the event along with four friends, who are all big fans of designer toys. One of th亚博体育网上注册夜网女神会所

em is Wang Mei, who started collecting designer toys in 2017 and now boasts a collection of more than 1,000.

亚博体育网上注册夜网”It’s a great way to socialize with people,” says Wang, 36. “We

share information about designer toys and what we bought on social media.”

When I look at those cute little toys after work, I feel relaxed亚博体育网上注册夜网

and warm,” says Wang. “For me, those toys are like affordable art pieces.”

Kan and Wang are typical of the growing number of Chinese toy-collecting enthu

siasts who have emerged in the past few years as the designer toy craze has taken off.亚博体育网上注册夜网女神会所

They enjoy buying and collecting toys made from plastic or vinyl

produced by designers or artists. These toys are often associated with different themes, such as anim

als, amusement parks and zodiac signs. The styles of the toys can be cute, funny or even quirky.亚博体育网上注册夜网

It all started with Pop Mart, a Beijing-based company that introduced designer toy show

s to the Chinese mainland, and the organizer of the Beijing show as well as one in Shanghai. Three years ago, it sig亚博体育网上注册夜网女神会所

ned a contract with Hong Kong illustrator and designer Kenny Wong, who designed Molly, a wide-eyed girl.

About 4 million finger-sized Molly dolls in different series or situations, such as Scho亚博体育网上注册夜网

ol Life and Ocean, were sold on the mainland in 2018, each for 59 yuan, one of the best-selling art toys in China.

The idea for Molly came from Wong’s experience in drawing portraits of child

亚博体育网上注册夜网女神会所ren at a charity event. To keep the kids still for his portraits, he asked them to sit down w

hile he painted. All the children were pouting as they followed the instruction not to move.

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Carmen Reinhart, a亚博体育网上注册千花网d University economist w

hose focus is international finance, said that “one shock that is concerning me a great deal

at the moment is the turmoil in Hong Kong”, which could affect growth in China and Asia generally.亚博体育网上注册千花网

“These are not segmented regional effects, these have really gl

obal consequences,” she said in an interview with Bloomberg Television on Friday, a

亚博体育网上注册千花网ding that this “could be a tipping point that could trigger a very significant global slowdown, or even recession”.

Jia Jinjing, assistant dean of the Chongyang Institute for Finan

cial Studies, said the escalated riots in Hong Kong pose an increasing hazard to the city亚博体育网上注册千花网女神会所

‘s prosperity and are “dealing irreversible harm to Hong Kong’s ability to build up and shape its credibility”.

Hong Kong’s role as a bridge in channeling foreign dir亚博体育网上注册千花网

ect investment to the Chinese mainland is “faced with risks of being diminished”, Jia warned.

Lam, the Hong Kong chief executive, urged people from all walks of life on Tuesday to bring back order and tran

亚博体育网上注册千花网女神会所quility, saying the SAR government will continue “zero tolerance” toward all violent behavior.

China took the top spot at the 45th WorldSkills Competition held in Kazan, Russia, on Tuesday.

China finished the competition with 16 gold medals, 14 silver and 5 medals in total, putting China at the top of the m亚博体育网上注册千花网

edal rankings, according to the final tally announced at the closing ceremony on Tuesday night.

Launched on Aug 22, the week-long event saw over 1,300 competitors from 63 countries and regions.亚博体育网上注册千花网女神会所

China participated in the competition for the fifth time since becoming a member country of WorldSkills International in 2010.

The biennial competition, dubbed as the Olympic Games for skilled workers, will be held next in Shanghai in 2021.

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report, Morgan Stanle 亚博体育网上注册龙凤 it expects consump

ption in China’s lower-tier cities to triple to $6.9 trillion by 2030. Th

e investment bank also found that consumers in smaller cities?亚博体育网上注册龙凤女神会所

are catching up with tier-one and tier-two markets in valuing quality over price.

?亚博体育网上注册龙凤”In this context, even as social network seems to be the missing piece of the puzzle for Ali

baba, the vast consumer market is not necessarily a zero-sum game,” Cao said, a

dding that various players can expand the pie together using respective growth strategies.

Traditional?亚博体育网上注册龙凤 Chinese culture is highlighted in the new textbooks on Chinese, hist

ory and ideology and politics for senior high school students in the coming semester.

?亚博体育网上注册龙凤女神会所”The new Chinese textbooks boast a selection of 67 classic works of ancient poetry

and prose that account for 49.3 percent of all articles,” said Wen Rumei, editor-in-chief of the new Chinese te

xtbooks, at a press conference held by the Ministry of Education (MOE) on Tuesday.?亚博体育网上注册龙凤

Besides content on politics, the economy, society and the rule of law, the ideology and

politics textbooks also attach importance to traditional Chinese culture.?亚博体育网上注册龙凤

“The textbooks offer a systematic exposition on traditional Chinese culture, ranging f

rom its origin, features and contemporary values to representative personages and i?亚博体育网上注册龙凤

mportant ideologies,” said Zhang Yibin, editor-in-chief of the ideology and politics textbooks.

?亚博体育网上注册龙凤女神会所The history textbooks will help students grasp the laws of history, pursu

e core socialist values and learn fine traditional Chinese culture, said Zhang Haipeng, edit

or-in-chief of the history textbooks.The quintessence of traditional Chinese culture can be found in the history?亚博体育网上注册龙凤

textbooks, including more than 100 great names in history, more than 80 classic works c

overing philosophy, technology, literature and law, over 50 major inventions as wel?亚博体育网上注册龙凤女神会所

l as over 40 works of calligraphy art, painting, music, dance and sculpture, Zhang said.

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The Beijing municipal 亚博体育网上注册龙凤rnment is offering sub

bsidies of up to 73,800 yuan ($10,416) per vehicle if taxi owners will buy electric ones, according to a document released in July.

At a forum in July, BAIC Group Chairman Xu Heyi said all taxisin Beijing will become electric?亚博体育网上注册龙凤女神会所

within three years. BAIC owns Beijing Electric Vehicle Co, which is the largest electric carmaker in the country.

?亚博体育网上注册龙凤A representative at BJEV said that as the subsidies are cut, the number

of private owners may fall somewhat but the proportion of electric vehicles used such?亚博体育网上注册龙凤女神会所

as taxis and ride-hailing vehicles will rise as they are cheaper to use than gasoline ones.

Carmakers have long stepped up their efforts in new energy vehicl

es. BAIC and Changan said in 2017 that they will phase out conventional fuel-powered cars by 2025.?亚博体育网上注册龙凤女神会所

Volkswagen plans to produce around 11 million electric cars in China by 2028. This is more than half of its global target of 22 million.

?亚博体育网上注册龙凤China started its new energy vehicles initiative in 2009 and overto

ok the United States in 2015 as the largest market for them in the world.

So far, there are around 3.5 million new energy vehicles on the country’s roads. The figure is expected to reach 5 million by the?亚博体育网上注册龙凤女神会所

end of 2020, according to the China Association of Automobile Manufacturers.

Foreign marketing, analytics companies are looking to meet strong data tracking demand as Chinese firms expand overseas

?亚博体育网上注册龙凤China is gearing up to be one of the few truly mobile-first economies in the world, which is spur

ring foreign mobile marketing and analytics companies like AppsFlyer to target opportunities in the country.

Oren Kaniel, CEO and co-founder of AppsFlyer, said that in?亚博体育网上注册龙凤女神会所

China, the firm’s development is “much faster than they can grow the team”.

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New personal mortg亚博体育网上注册419论坛 to be based on LPR

China will link the personal mortgage loan rate to a new lending rate reference, starting fr

om Oct 8, to make it more flexible and market-driven, the central bank said in a statement on Sunday.亚博体育网上注册419论坛

For purchasing the first house, individual borrowers of new mortgage loan will pay an intere

亚博体育网上注册419论坛品茶微信st rate of no less than 4.85 percent – it is the five-year loan prime rate, or LPR, th

e new reference of bank lending reported by the People’s Bank of China, the central bank, on Aug 20.

Buyers of second house should pay an interest rate that is 0.6 perc亚博体育网上注册419论坛

entage point above the LPR, which will be 5.45 percent, said the statement.

The existing mortgage loans, with the contracts signed earlier than Oct 8, will keep the old interest rates unchanged, it added.

亚博体育网上注册419论坛品茶微信”That is almost at the same level of the current lowest person

al mortgage loan rate,” a spokesman with the PBOC said. “Compare with the si

tuation before the reform, the interest expense will be basically unchanged for borrowers.”亚博体育网上注册419论坛

Liu Guoqiang, a vice-governor of the PBOC, said at a press

亚博体育网上注册419论坛品茶微信conference last week that even under the new interest ra

te scheme, the rate for mortgage loans will not be lower, as the government will not ease the

real estate control policy nor “use real estate as a tool to stimulate short-term economic growth”.亚博体育网上注册419论坛

The new method to set mortgage loan rate is part of the market-driven reform of the cou

ntry’s overall interest rate system, which made a remarkable progress on Au亚博体育网上注册419论坛品茶微信

g 17. It decided to use the LPR, the price of loans banks offer to their best clients, as a new

reference for bank loans, instead of the existing one-year benchmark lending rate.

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Xi urges furthering pov亚博体育网上注册419ef effortsident Xi Jinp

President calls for better livelihoods, healthier growth

President Xi Jinping called for further efforts in poverty reductio亚博体育网上注册419

n as he concluded his four-day inspection tour in Gansu province on Thursday.

亚博体育网上注册419品茶微信Xi, also general secretary of the Communist Party of China Central Committee, urged local governments to strengt

hen environmental protection, strive to improve people’s livelihoods and secure high-quality development.

After hearing a work report by local government officials on Thursday, he said intensified efforts must be made in po亚博体育网上注册419

verty reduction with an emphasis on solving prominent problems that affect rural residents, including access to comp

亚博体育网上注册419品茶微信ulsory education, basic medical services and safe housing, while ensuring they have adequate food and clothing.

He required local government officials to identify and assist povert

y-stricken people house-by-house and village-by-village in impoverished areas.亚博体育网上注册419

Saying people’s livelihoods must be ensured and improved, Xi added that the issues t

hat matter to people, such as education, medical services and transportation, should be addressed.

The president called on local governments to advance supply-side structural reforms, accelerate the upgr亚博体育网上注册419品茶微信

ading of traditional industries, cultivate emerging industries, actively develop high value-added agriculture and coordi

nate protection and development of tourism resources to secure high-quality development.亚博体育网上注册419

He also urged Party committees at various levels and leading officials to earnestly develop the educational ca

亚博体育网上注册419品茶微信mpaign themed “Staying true to our founding mission” among all Party members, fight against corruption, prom

ote clean governance, improve work efficiency and resolutely overcome bureaucracy and formalism.

On Wednesday morning, Xi visited the Huanghuatan community in Gulang county, home to亚博体育网上注册419

people relocated from environmentally vulnerable and impoverished areas. There he visited Li Yin

gchuan’s new home, with a clean yard and well-equipped kitchen and bathroom facilities.亚博体育网上注册419品茶微信

Seeing the changes from a photo of Li’s home before relocation, Xi said he was very ple

ased at the great progress achieved in people’s working and living environments.

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It is important to spec亚博体育网上注册夜网ponsibilities of all

?participants involved in a project, so all culprits get their due punishment,” he said.

Zhai said ethical issues in science and technology were important because the development of h亚博体育网上注册夜网女神会所

ighly risky technologies such as brain science and artificial intelligence could affect the future of humanity.

“For example, the latest biological technologies such as gene editing can produc

亚博体育网上注册夜网女神会所e cross-generational effects and unpredictable results for our offspring,” she said. “We must be cautious about givin

g a certain scientist the right to make such alterations at will in the name of curing a serious disease.

“Ethical standards do not impede the development of science and technology. Rat亚博体育网上注册夜网

her, they ensure the development is on the right path for the benefit of humankind.”

Qin Chuan, president of the Chinese Association for Laboratory Animal Sciences, said improved ethical supervisio

n was necessary to ensure the welfare of laboratory animals used in research on new drugs.亚博体育网上注册夜网女神会所

“But it is important for the development of science and technology for

亚博体育网上注册夜网the public good not to impose unnecessarily stringent ethical standards,” she said.

For example, scientists would, in principle, use lower-level animals for scienti

fic experiments, but in some research involving the study of the brain, mice migh亚博体育网上注册夜网女神会所

t not be suitable and higher-level mammals would been to be used for effective research, she said.

Xiao Keyan, a doctorate in aquatic plant ecology and former associate prof

亚博体育网上注册夜网essor at Wuhan University, is thriving in aquatic plant industry after quitting his job.

Xiao rented some land in a village after resigning from the university and began growing aquat

ic plants, according to Chutian Metropolis Daily on Monday, a newspaper in Hubei province.亚博体育网上注册夜网女神会所

One of his plants has brought him huge economic returns. He got 50

,000 yuan ($7,082) for selling aquatic grass in 2 mu (0.13 hectare), he said.

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calls for continuing 亚博体育网上注册419ogical effortsXi Jinping,

President Xi Jinping, also general secretary of the Communist Party of Ch

ina Central Committee, works at an afforestation program in Gulang county, Gansu亚博体育网上注册419品茶微信

province. He learned about the latest developments in desertification control during the inspection tou

亚博体育网上注册419President Xi Jinping underscored the importance of ecological conservation in the nati

on’s drive for high-quality development during his inspection tour of Gansu province on Wednesday.

Xi, also general secretary of the Communist Party of China Central Committee, visited a new community on Wed亚博体育网上注册419

nesday in Gulang county, which is home to people moved from rural mountainous areas due to ecological conc

erns, and he talked with the villagers about their livelihoods and the progress in poverty relief.

The president also inspected an afforestation program in a desert area of the pro亚博体育网上注册419品茶微信

vince, where he learned of the latest developments in desertification control and environmental protection.

Thanks to local people’s consistent efforts, more than 14,400 hectares of desert

in Gulang have been afforested since 1981, China Central Television reported.

When Xi visited a horse ranch in Shandan county on Tuesday, a vast grassland on the north side of the Qilian Mount亚博体育网上注册419

ains, he was briefed by local government officials about the progress of ecological restoration in the area.

The Qilian Mountains are a vital ecological shield in western China, Xi said.亚博体育网上注册419品茶微信

He expressed satisfaction with the effectiveness of the restorat

ion work, and urged the local government to keep making efforts in this regard.

The Qilian Mountains are on the border of Gansu and Qinghai provinces. The 1.98-million-hecta

re nature reserve was designated a national protected site in 1988, but hundreds of mi

nes in the area and construction projects have continued to take a toll on the environment.

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