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in fact a type of aluminum alloy that can be used to imitate the shape of traditional Chinese a
rchitecture at a low cost. It is an example of how modern technology is applied at the ex
hibition,” Li Liang, a designer of the pavilion, was quoted by Beijing Daily as saying.
By installing rainwater collection devices on the roofs and tanks beneath the pavili
on, a mini ecological circulation has been created by gathering rainwater to irrigate the terraced fields.
Shen Yanyan, who camea with her family from Jiangxi province for a visit, said that
although she didn’t know much about design, she felt the building was “very cool”.
“We saw its shiny roof upon entry to the park and we were immediately attracted,” said the 33-year-old. “The Chin
a Pavilion is not only beautiful outside, but also inside. My mother is very happy to see flowers from so many pro
vinces and regions of the country, and all are well-trimmed and placed in the pavilion’s exhibition halls.”
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.
pply (M2),” said Sheng Songcheng, a central bank adviser and a former director of the central bank’s statistics department.
The central bank released M2 data on Friday, which recorded a 13-month high of 8.6 percent by the end of March, accelerating from 8 percent by February.
Aggregate social financing, a gauge to measure broader financial activities including trust funds and local govern
ment bonds, also grew faster than market expectations. That total financing amount grew to 2.86 trillion yuan in Mar
ch, or a 11.1 percent growth from a year earlier, compared with 10.6 percent in February, said the central bank.
“According to the latest economic data, there is less necessity for RR
R cuts, but it requires further observation on future changes,” said Sheng.
If the central bank further cuts the RRR, when economic growth is already stabilized, inflation wi
ll surge, and possibly lead to funds flowing into the property sector instead of supporting the real economy, he added.
question whether the US is really trying to improve the DPRK-US relationship and it is wondering whe
ther its previous steps to promote engagement with Washington were the right thing to do.
In what was the most comprehensive review of Pyongyang’s recent i
nteraction with Washington, the DPRK leader put the ball decisively back in Was
hington’s court after the US president floated the idea of a third summit on Thursday.
Washington maintains unabated zeal for a deal of some sort, because ot
herwise the engagement with Pyongyang since last year
would be regarded as failure. So, more likely than not, it will try to find a way to keep the possibility of a summit alive.
But the “correct manner” Pyongyang demands is Washington forsaking its “max
imum pressure” and demonstrating sufficient goodwill by relieving, or completely rollin
g back, sanctions, putting an end to the state of war, or, even better, offering economic incentives.
the organization’s reform be carried out? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts fo
llow:China’s developing country status has not changedBai Ming, a senior research fellow at and deputy direc
tor of the Institute of International Market, Chinese Academy of International Trade and Economic Coope
rationDespite the large size of its economy and remarkable GDP growth, China remains the largest developing economy
. Even though there are no WTO definitions of “developed” and “developing” countries, compared with China, p
eople in developed countries enjoy higher living standards. Besides, China still has to lift millions of people out of pov
erty, especially in its central and western regions.Due to its huge population－the largest in the world－China’s per c
apita GDP is still very low in relation to that in developed countries. For instance, China’s per capita GDP of less th
an $10,000 in 2018 was meager compared with the US’ nearly $60,000, and low
er than the over $10,000 per capita GDP of some other developing countries such as Russia and Argentina.
Companies upbeat on 2-year-old new area as goals in place for development
Xiongan New Area, which was first announced two years ago, has been attracting
increasing attention from foreign companies given its huge development potential.
Located about 100 kilometers southwest of Beijing, Xiongan is aiming to become a significant part
of the Beijing-Tianjin-Hebei cluster, and plans to take over Beijing’s noncapital functions and pr
ovide a Chinese solution to “big city malaise”, including overcrowding, pollution and traffic congestion.
On April 1, 2017, China announced plans to establish Xiongan New Area, which an official statemen
t called “a strategy that will have lasting importance for the millennium to come, and a significant national event”.
Massimo Bagnasco, vice-president of the European Union Chamber of Commerce in China, said tha
t there are many opportunities for foreign companies to benefit from Xiongan.