hinese consumers to drive future global growth

One of Britain’s leading economists said Chinese consumer 上海品茶微信s will be the driving force of future global economic growth.

Jim O’Neill, chair of the international think tank Chatham House and former chief econom

i 上海品茶微信st at Goldman Sachs, made the remarks in a speech on Wednesday at the celebration of the 70th anniversary of th

e founding of the People’s Republic of China and the second China-UK Economic and Trade Forum in London.

“What happens to the Chinese consumers is more important to China’s future,” O’Neill said.

“If China continues with 8 percent nominal GDP gr 上海品茶微信owth, which I believe is 5 percent real (GDP growth), and 3 percent pri

ces (meaning inflation), and if the Chinese consumers become the 50 percent of that total, the change from the next

year to the next decade is somewhere between $11 to $12 trillion, which is equivalent to create another China,” he said.上海品茶微信

O’Neill i 上海品茶微信s known for coining the term BRIC, the group term for Brazil, Russia, India and China, in 2001, to describe the four rapidly-developing nations that symbolized the shifting balance in the global economy.

South Africa was added to the group nine years later, making it BRICS.

“China remains the only one of the BRICS countries that aft上海品茶微信er 17 years has actually done exactly what we had expected it would achieve,” he said.

His opinion is that the ongoing trade dispute with the Un

ited States is not the most important challenge the country currently faces.

To continue its success, O’Neill said, China ne

上海品茶微信女神会所eds to address aspects of its aging population, which is a key contr

ibutor to the economic growth slowdown, and tackle environmental issues and population control in urban areas.

O’Neill is a former British commercial secretary to the Treasury. He said the Belt and Road Initiative, or BRI, initiated six ye

ars ago, will play a “hugely important” role in global trade, which has been buffeted by rising protectionism and unilateralism.

The BRI aims to build the Silk Road Economic Belt and the 21st Century Maritime Silk Road and deliver policies, infra

structure, trade, financial and people-to-people c上海品茶微信女神会所onnectivity via a new platform for a brighter future.

“If it can be implemented collectively, it can transform the trade pattern in Asia, p

articularly between China and India, two of the major BRICS countries,” he added.

www.chuangxiangjie.cn

summit in Hangzho上海品茶微信女神会所 province, in 2016 wh

ere it contributed上海品茶微信女神会所 Chinese wisdom and Chinese solutions to global economic governance, Xiong said.Governance reform

China supports highly professional, representative and influential international organiza

tions such as the International Monetary Fund, the World Bank and the WTO, as they are important pil

lars of the world’s economic stability and development, he said, and also supports their efforts to reform their go

vernance structures and improve their capabilities to play a more positive role in the global economy.

Olav Kjorven, chief strategy officer at EAT, an NGO based in Stockholm that advocates a fair, healthy

and sustainable global food system, warned that alarm bells are now ringing loudly on behalf of planet Earth.

“We are rapidly running out of time to secure a safe future for humanity; we have a climate crisis o

n our hands, and we have entered an era of mass extinction of species with grave consequences for humanity,” he said.

www.pldyjo.cn

Over the past 40 year上海夜网女神会所00 million Chin

Over the past 40 上海夜网女神会所years, more than 700 million Chinese have emerged from poverty.

Since its 18th National Congress in 2012, over 80 million have been lifted out of poverty in

rural areas. The country plans to help over 10 million people emerge from poverty this year.

The CPC is also tasked with various jobs including tackling pollution and foresta

lling and defusing major risks amid a rising tide of unilateralism and protectionism on the global stage.

During an inspection tour in Jiangxi province in May, Xi said the country depends on the fir

m faith and strong will of the whole Party and all people to overcome major challenges at home and ab

road and secure new victories in building socialism with Chinese characteristicsXinhua contributed to this story.

www.mxhehuoren.cn

Anxious about the 上海夜生活品茶微信wn, Yu says Chinese

 filmmakers sho上海夜生活品茶微信uld work harder toward developing new film genres and raising the quality of their storytelling to draw back audiences to the cinema.

“When I started to work in the film sector in 2001, China’s annual box-

office takings were less than 900 million yuan. The figure expanded to 60.9 billion yuan in 2

018. We should keep this (earlier) momentum going despite 2019 looking like a difficult year,” Yu says.

And huddling for warmth has become one of the main themes of the festival forums this year.

Fan Luyuan, chairman of tech giant Alibaba Group’s film subsidiary Alibaba Pictures, say

s Chinese filmmakers should get together to enhance cooperation and combat economic risks.

Instead of investing alone in big-budget films, as in the past, most studios now prefer to joi

n forces to co-finance them, echoes Jiang Ping, general manager of the China Film Group.

For instance, Shanghai Fortress, one of the most anticipated science-fi

ction movies after The Wandering Earth-a game changer in the film genre in China-has s

o far drawn 12 companies on board, with five involved in coproduction and the other seven in co-distribution.

nqlbn.cn

After a half-month visit to China, a team from the IM

led by Asia and Pacific Department Deputy Director Kenneth Kang, summarized that “China can play an impor

tant role and would benefit from further opening up and other structural reforms that enhance competition.”

The previously issued policy is sufficient to stabilize growth by 2020, despite the rec

ent US tariff hike, according to the fund’s report. “No additional policy easing is ne

eded, provided there are no further increases in tariffs or a significant slowdown in growth.”

Only if the trade tensions further escalate and threaten economic and financial stability, a

dditional policy easing, such as fiscal expansion, could be used to stabilize the economy, it said.

www.ypcxf.cn

hina to remain steadfast protecting national security

First, China has undisputable sovereignty over islands and their surrounding waters in the South China Sea, backed by a wealth of historical and legal basis,” Shao said.

For a long period of time, various nations’ normal passage and flight in the region have never been obstructed. “There i

s no issue over the freedom of navigation and overflight in the South China Sea,” he said.

However, the US has frequently sent vessels and aircraft to trespass into Chinese mar

itime territory and airspace, and has conducted intense intelligence gathering and special drills in the region.

“These actions damage the peace and security of the region,” Shao said. “As a result, the PLA

has installed necessary defense equipment on the islands in accordance with security needs. This is within

the natural rights of a sovereign state, and a necessary measure to counter those provocative actions.”

www.ixhhw.cn

Xi calls for bolstering reform and developmentforts to p

Xi Jinping, general secretary of the Communist Party of China Central Committee, called

on Wednesday for further efforts to prevent and eliminate major problems in the nation’s reform and

development against the backdrop that uncertainties and instabilities are on the rise.

Xi, also Chinese president and chairman of the Central Military Commission, made the remarks while presiding over a key meeting

of the Central Committee for Deepening Overall Reform. He is the director of the committee.

Saying China is facing profound changes in its reform and development against the backdro

p of increasing external uncertain and unstable factors, Xi said the country must maintain a strategic focus.

www.qianpadat.com

Foreign investors’ access to onshore stock index futures

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures mark

et to foreign investors, as they have large exposure in t

he A-share market and are therefore in need of this risk management tool.

Foreign investors’ access to onshore stock index futures is an “infrastructure” for fin

ancial market opening-up, without which foreign investors’ passion for Chinese shares may be dampened, said Wa

ng Maobin, investment department chair at the University of International Business and Economics in Beijing.

www.gzbbas.com

He said through the SAR government’s efforts and a ratio

onal discussion among the people of

Hong Kong, the city will eventually reach a consensus and any doubts over the issue will be dispelled.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Comm

ittee, hoped that all sectors in Hong Kong will work together to safeguard the image of the city’s rule of law.

The SAR government proposed to amend its Fugitive Offenders Ordinance and Mutual Legal Assista

nce in Criminal Matters Ordinance in March. The proposed amendments will allow Hong Kon

g to surrender fugitive offenders to jurisdictions with which it does not currently have extradition arrangements on

a case-by-case basis, with prior approval from the chief executive before an application is submitted to the courts.

shlf18.com

n macroeconomic terms, the China-US trade dispute ha

as added huge uncertainties to the US economy and raised the likelihood of recession. Which could

thwart the US president’s chances of being re-elected in 2020. And the trade dispute could pre

vent the US from taking the measures it intends to in order to consolidate its national power.

As for China, the significant deviation in the US’ stances and objectives

in the trade talks should be a warning for it to more strictly stick to its principles. And the

fact that the US wants to challenge the laws of economics should not be reason for China to try to do the same.

China may grant official 5G licenses, instead of the interim licenses previously planned, to tel

ecom carriers this year and is likely to start commercial use of the superfast wireless technology na

tionwide in the near future, possibly as soon as October, according to people familiar with the matter.

www.sailingcity.org