China has to walk a fine balance between local govern

nment debt management and stable economic growth, especially at a time when trade te

nsions with the United States have imposed more downward pressure, said economists.

More financial resources and investors will be involved in the debt resolution process, said Qiao Baoyun, head of the Acad

emy of Public Finance and Public Policy at the Central University of Finance and Economics.

The last round of local government debt swaps started in 2015 and ended in August 2018, w

hich saw 14.34 trillion yuan ($2.08 trillion) of local government debt being swapped into bonds.

Local governments are set to face more debt burden in the next three ye

ars, as many of the previously issued bonds are set to expire, income from land sales has

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what their children are really good at-and when

To ease the anxiety of parents, especially moms, kids should be taught how to

be a good person, rather than just be good at cracking exams and earning good scores.

Parents should be happy if their children excel in their own chosen

fields, and teach them the importance of honesty, kindness and shared responsibilities.

These good traits will help the kids a lot in their future development.

Over-anxious parents, on the other hand, could prevent kids from excelling in even their own chosen fields.

Liu Xiuying, director of home education institute at China Youth and Children Research Center

The China Earthquake Administration pledged to enhance its earthquake detect

ion capability as it rolls out an experimental project in the country’s tremor-plagued southwestern region.

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population, including psychological needs, so the servi

services will aim precisely at those most in need,” she said.Shan Jixiang, former director and curator of the Palace Muse

um, has been hired as Palace Museum Research Institute chief, one month after his retirement.

Wang Xudong, current director of the Palace Museum, on Wednesday handed the offer letter, dated May 6, to Shan.

Xi Huan, vice-president of Beijing Hospital, said major medical institutions need to mak

e more efforts to improve services for the elderly, including the promotion of disease prevention educ

ation and increased follow-up visits for elderly patients who have been discharged from the hospital.

“Big hospitals should provide more help for elderly patients, and more follow-up nursing services after they leave the ho

spital, so they can get timely help if problems occur at home or at community health centers,” he said.

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Overholt said “the list of issues that President Xi has

addressed are the issues that the business community is concerned about”.

“It is excellent that President Xi recognized some problems,” especially those associated with its Belt and Road Initi

ative, such as transparency and corruption, said Craig Allen, president of the US-China Business Council.

Experts also were interested in how the reform policies and laws would be implemented, something Xi addressed in his speech.

“People are very positive about the direction, but they need to

know the details” of how the promises would be delivered, Overholt said.

Xi, citing the old Chinese saying “honoring a promise carries the weight of gold”, pledged to install a binding mec

hanism for international agreements, to make sure governments at all levels operate in well-regulated wa

ys, and to update laws and regulations to abolish unjustified practices, keeping in line with the needs of opening-up.

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China looks to strike a balance between meeting finan

ancing needs, sustainable development and debt sustainability, according to Finance Minister Liu Kun.

“We will build a high-standard and high-quality financing system to s

upport long-term and sustainable BRI investment while preventing debt risks,” Liu said.

He suggested promoting financing cooperation for projects in

third-party countries, equity investment and attracting more private funding.

Enhancing debt and risk management is a key consideration for deepening BRI financi

ng cooperation, said Yi Gang, governor of the People’s Bank of China, the central bank.

“The debt issue in developing countries should be treated objective

ly. If debt growth is accompanied by infrastructure improvement, enhancement of people’s liveliho

ods and productivity and poverty reduction, it will be beneficial for the sustainability of long-term debt,” Yi said.

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China will improve the market environment for c

 car sales and expand the supply of automobiles as part of its latest efforts to boost auto consum

ption, Gao Feng, the spokesperson for the Ministry of Commerce, said at a press conference early this month.

By the end of 2018, China’s six cities namely Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou and Tianijin carried

out the purchase restriction of fuel-powered passenger cars, said Shao Jiang, an analyst at Everbright Securities. “If thes

e cities double their rising number of new cars, it could bring a 2.8 percent year-on-year growth for the wh

ole passenger car market.”Editor’s Note: The eight explosions in Sri Lanka on Easter Sunday have claimed more tha

n 300 lives and left over 500 people injured. A ninth explosion was reported on Monday near a church in Colombo, but n

one was reported killed or injured. The Islamic State reportedly claimed responsibility for the bombings on Tue

sday. Two experts share their views on the attacks with China Daily’s Liu Jianna. Excerpts follow

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Specifically, the draft likely will and should feature key

 reforms to foster an investor-friendly legal system, represented by strengthened information disclosure, prot

ection of investors’ rights and interests, and crackdown on legal breaches, Liu said.

China must promote the healthy development of the capital m

arket through key institutional innovations, the Political Bureau of the Communist Part

y of China Central Committee, the Party’s core leadership, said a statement released after a meeting on Friday.

Dong said the revised law is likely to be adopted by the end of the first half of the ye

ar, adding it is imperative and possible to expedite rolling out the revised version.

“Previously, controversies over the registration-based IPO system reform ha

ve prolonged the revision process, but now this factor has been largely lifted,” he said.

“As foreign investors are set to play a bigger role in China’s capital

market development, the revised law should also consider clarifying the rights and oblig

ations of overseas investors, to help them form a stable policy expectation,” said Xue Yi, an associate p

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The lawsuit accused Liu and JD on six counts of false im

prisonment, civil assault and battery, as well as sexual assault or batter

y, seeking damages in excess of $50,000, according to a report from Reuters.

The court filing said JD is “vicariously liable” for Liu’s behavior as his alleged actions happened while

he was “seemingly” at work-related activities, and the assault and battery began in the presence of two other JD employees.

“We have not yet reviewed the complaint and are not going to comment on pending litigation, but based on the Hennepin County A

ttorney’s declination to charge a case against our client and our belief in his innocence, we feel strongly that this suit

is without merit and will vigorously defend against it,” Liu’s attorney Jill Brisbois said in a written statement.

Peter Walsh, an attorney for JD, said in a statement while it was not prepared to com

ment at this time, the company would vigorously fight against these “meritless claims”.

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he monetary policy should “maintain strategic focu

cus”, keeping it prudent while the liquidity should be at a reasonably adequate level, it said.

Financial policies are required to further support small and private companies, and fun

ding through the capital market is supported by the authorities, according to the statement.

The central bank had skipped open market operations for 15 conse

cutive working days until Monday. “Reasonable and adequate liquidity in the banking syste

m” was the main reason for the absence of open market operations, according to a statement from the central bank.

To cut or not to cut the RRR, a strong tool for liquidity adjustm

ent, has become a hot topic since April, not only for investors, but also for policy advisers.

Divergent opinions are spreading among a broader group of market observer

s. The market is trying to get more indications from the monetary authority, although the C

hinese central bank barely sends any hints on possible monetary policy operations before taking action.

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Four-day May Day holiday offers best of both the worlds

Editor’s Note: The May Day holiday this year would be extended to four days. When Premier Li Keqiang was asked at a news con

ference during the recent second session of the 13th National People’s Congress whether China would res

ume the May Day golden week holiday, he said relevant departments were studying the issue and would serio

usly consider the public’s opinions before making a decision. What effects will a four-day holiday have on the people and

the economy? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts follow:

Holiday answers people‘s appeals

The four-day holiday will, to a large extent, meet Chinese people’s require

ments for a better life, including the growing desire to enjoy quality longer vacations both at home and abroad.

There have been calls for longer holidays ever since the May Day golden

week holiday was reduced to three days. And the extension of the May Day holiday to four

days this year suggests the government has been taking public opinions into serious consideration.

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