ital economy will be the new engines for the economy, while some traditional driv
ing forces, such as injecting funds into the market, are losing momentum, Zhu said.
China’s total GDP exceeded 90 trillion yuan ($13.4 trillion) in 2018, and the per capita GDP was
about $9,700. Economists predict that if the country maintains growth of at least 6 percent this
year, which is likely given the current momentum, its per capita GDP this year would surpass $10,000.
That means China would move closer to the standards for a “high-inco
me country” — above $12,736 in per capital GDP — set by the World Bank in 2015.
However, a productivity slowdown, aging population and unbalanced regional development could be among the “bot
tlenecks” that constrain China in becoming a high-income country, economists said.
degree of leveraging maintains the top risk for China’s economy, thus
measures should continue to reduce the debt-to-GDP ratio “in proper order”, said Lou Jiwei, ch
airman of the National Council for Social Security Fund and a former finance minister.
It is necessary to build a long-term and efficient mechanism for financial regulati
on and fiscal supervision, and to prevent potential risks in the property sector, Lou said.
The three-day China Development Forum has a guest list of more tha
n 150 international delegates, including global industry leaders.A new round of high-level
economic and trade consultations, headed by United States Trade Representative Robert Lighthizer on the US
side, will kick off on March 28 in Beijing, the White House confirmed on Saturday.
“At the direction of President Donald J. Trump, United States Trade Representative
Robert Lighthizer and Secretary of the Treasury Steven Mnuchin will travel to Beijing, China, for prin
cipal-level meetings starting on March 28, 2019, to continue negotiations aimed at improving the trade rel
ationship between the United States and China,” the White House Press Secretary said in a statement.
think, both of our country should be very proud to have a friend, a representative like him,” he said.
At present, there are more than 800 13-18-year-old students at the
School, including nearly 60 Chinese students, most of whom are from Hong Kong.
Uppingham school was founded in 1584. The famous British educator Edward Thri
ng (1821-87) used to be its headmaster and took the lead in proposing the concept of “all-around education”.
Thring opened the first school gymnasium in England, introduced wood and metal workshops, and provided a sw
imming pool. In academic matters he stressed sound training in mathematics, the classics, and music. In 1869 he fou
nded the Headmasters’ Conference, an organization that had a great influence in English school education.
Bank of Beijing Co Ltd said on Friday that it has got the necessary board approvals for the esta
blishment of a joint venture with Netherlands-based ING Bank NV, in which the latter will be the majority partner.
With a total investment of 3 billion yuan ($448 million), the forthcoming joint-venture bank, whic
h is still waiting for regulatory approval, may become China’s first commercial lender in which a for
eign shareholder has a controlling interest. According to the plan, ING Bank will hold a 51 percent stake, and Bank of Beijing 49 percent.
Drawing on the experience of ING Bank in the successful development of direct ba
nking services, the joint venture will build a brand in the area of digital banking with the help of financial tec
hnologies and try to become a benchmark in terms of the implementation of China’s push to further open
up its financial sector to foreign investors, said the mid-tier commercial lender BOB in an announcement.
Different from the traditional counter-based model, the direct banking model uses e-cha
nnels to provide financial products and therefore has no restriction of time, regions or geographic branches.
ion with affected areas remains limited. On Monday, Mozambican President Filipe Nyusi said that “everyth
ing indicates that we can have a record of more than 1,000 dead” — a figure that some experts now believe could be conservative.
The mortuary at the central hospital in Beira “is full and dozens of bodies need to be
removed and handled in a dignified way,” according to IFRC. Beira is still flooded, which makes it impossible to bury bodies, IFRC said.
It is premature to say how many people have died while affected areas remain i
naccessible, Stephen Fonseca, regional forensics manager at the International Committee of the Red Cross (ICRC), told CNN.
On Friday morning ICRC set up a new base in Chimoio, near the border with Zimbabw
e. Fonseca said identifying victims is “a monumental task” that will take months or years rather than days or weeks.
”The agony of not knowing what happened to your loved one in a disaster like Cyclone Idai is
indescribable,” Diane Araujo, an ICRC delegate deployed to Beira, said in a statement Friday.
Cyclone Idai made landfall in Mozambique on midnight local time on
Thursday, March 14, with 175 kph (109 mph) winds,
It wasn’t the strongest storm to have hit Mozambique, but the region had
recently been deluged by heavy rains. After lingering off the coast for days, gatherin
g strength, Idai finally dumped a huge amount of water on Beira — a city of
500,000 people — destroying “90%” of the area, according to aid agencies.
One week later, thousands of people remain missing across Mozambique,
Malawi, and Zimbabwe. Millions of others acr
oss have been left destitute without food or basic services, according to reports.
he high commissioner for Mozambique in the UK, Filipe Chidumo, said
Wednesday that the country needs “a sustained effort on part of the
Mozambican government as well as the inter
national community” to help rescue stranded people, and provide, food,
sanitation and water for those at risk.
”This is a big tragedy of biblical proportions,” he said, adding that major
ation of electricity, water and sanitation to prevent the emergence of waterborne
diseases, as well as repairs to public infrastructure.