port Hainan in developing the whole island into a pilot free trade zone, the 12th and the largest in the country, to gradually explore and steadily promote the establishment of a free trade port with Chinese characteristics. The Haikou Jiangdong New District covers 298 square kilometers o n the east coast of Haikou, and will have two parts: a 106-sq-km ecological region boasting a key n ational wetland natural reserve, and a 192-sq-km area that will serve both industrial and urban purposes. The provincial government said Haikou should pay great attenti on to ensure that environmental quality is advanced in an all-round way while developingRead More →

The Chinese government has accorded priority to achieving stable and expanding employment among its six stabilization tasks. The importance of stable employment has also been highligh ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues. The government is making special efforts to stabilize and expand employment, especially be cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade. The China Institute for Employment Research of Renmin University of China has calculated the employment market index, which shows the healthRead More →

ears to be stabilizing on the back of recently enhanced supportive measures. The report expanded the number of countries it scrutinizes for curr ency manipulation to 21 from 12. Countries with a current account surplus with the US e quivalent to 2 percent of GDP were put on the watch list, compared with 3 percent of GDP before. China didn’t meet the “currency manipulator” criteria listed by the US Treasury, but Washi ngton will continue assessing the RMB’s performance given China’s large trade surplus with the US, the report said. The US Treasury removed India from the watch list, while it added Singapore, Malaysia andRead More →

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission. According to Guo, the short-term fluctuation of the RMB exchan ge rate was normal, and the depreciation will not last long given the stable economic growth base. “Any speculative activities to short the RMB will suffer huge losses,” he warned. The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou nd 6.89 per dollar for eight days from May 20, and market watchers saidRead More →

ech competition in 1996 in London was sent around Chinese social media, the US website qz.com reported. “While the Western world views Liu as an unapologetic champion of China’s agenda, many mai nland citizens regard her as a national heroine defending her country from hostile foreign influences,” Newsweek reported. On Monday, Regan tweeted: “I look forward to hosting Ms Liu – in a FIRST OF ITS KIND debate on trade – LIVE from Beijing & New York.” Beijing on Wednesday set up a 5 billion yuan ($724 million) fund to spur development of the fift h-generation or 5G mobile technology industry, its latest effort toRead More →

t time after exchanging a flurry of Twitter messages over the past week, in which one challenged the other, and both agreed, to hav e an “honest debate” and “meaningful discussion” on the trade issues that are perplexing their countries. Liu joined Regan’s show at Fox’s studio in New York via satellite from CGTN’s studio in Beijing. “I would stress that trade wars are never good. They’re not good for anyone,” Regan said on the show. “So I want to believe, Xin, I want to believe that something can get done.” Regan, who addressed Liu on a first-name basis, contrasted what she said on herRead More →

Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose mac roeconomic stability risk,” said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings. The world’s second-largest economy maintained its foreign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, although it sli ghtly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange. Li Yang, director of the National Institution for Finance and Development of th e Chinese Academy of Social Sciences, saidRead More →

s at the Chinese Academy of Social Sciences, said bilateral cooperation plays a prominent role in guaranteeing world peace and security at a time when the global situation is clouded by tensions and turmoil. The two countries share the same position in promoting a more stable and multipolar world, Wu said, adding that they ha ve sent such signals through supporting and coordinating with each other on international occasions. China would rather rely on market-oriented forces to determine the renminbi’s value than defend its currency by di pping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said. The United States Treasury announcedRead More →

ocuments including a guideline on innovation and improving macro-regulation , as well as a guideline on strengthening opening-up and cooperation in innovation capacity. The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize economic growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr eventing risks, and ensuring social stability, according to a statement issued after the meeting. The strategic guiding role of national development planning should be leveraged to improve coordination mec hanisms for economic policies such as finance, currency, employment, industry, and regional development to en sure the nation’s economic development stays within aRead More →

has taken a tougher line on protection of agriculture. France, for example, is opposed to including agriculture in transatlantic trade talks. The Greens are one of the big winners in the elections (even beating Germ any’s Social democrats into second place), and they will seek to impose strict conditions reg arding climate change, the environment and human rights on future trade deals. This attitude will also make it dif ficult to agree a new trade deal with the US, as it has not endorsed the 2015 Paris climate agreement. Although the nationalist and populist parties now have more seats, it does not mean they willRead More →