Skip to content
iorities for China’s foreign exchange reserve strategy, according to the SAFE annual report last year. “Pu
tting such a large bulk of reserves into different baskets, and building optimized asset port亚博yabo平台千花坊女神会所
folios, can hedge risks and secure the assets’ value and profit,” the report said.
To better control potential risks, SAFE has introduced “counter-cyclical” policies to prevent adverse situations arising. Acco
亚博yabo平台千花坊rding to the report, the major risks are listed as “credit”, “market”, “liquidity” and “operational”.
The past five years have been the hottest on record in Asia and the Pacific. Unprece
dented heatwaves have swept across our region, slowly leading to disasters such as drought.亚博yabo平台千花坊
Yet heat is only part of the picture. Tropical cyclones have struck new, unprepared
parts of our region and devastatingly frequent floods have ensued. In Iran, they affected 10 million p
亚博yabo平台千花坊女神会所eople this year and displaced 500,000, of which half were children. Bangladesh is experiencing its fourth wave of
flooding in 2019. Last year, the province of Kerala in India faced the worst floods in a century.
This is the new climate reality in Asia and the Pacific. The scale of forecast economic losses for the region is sobe亚博yabo平台千花坊
ring. Including the slow onset of disasters, average annual losses until 2030 are set to quadruple to about $675
billion, compared with previous estimates. This represents 2.4 percent of the region’s GDP.
Economic losses of such magnitude will undermine both economic growth and亚博yabo平台千花坊女神会所
our region’s efforts to reduce poverty and inequality, keeping children out of scho
ols and adults of work. Basic health services will be undermined, crops destroyed and food security jeopardized. If
we do not act now, the Asia-Pacific’s poorest communities will be among the worst affected.亚博yabo平台千花坊
Four areas of Asia and the Pacific are particularly vulnerable, hotspo
ts which combine vulnerability to climate change, poverty and disaster risk. In trans-c
亚博yabo平台千花坊女神会所ountry river basins in South and Southeast Asia such as the Ganges-Brahmaputra-Meghna river basin, floods
alternate with prolonged droughts. In Southeast Asia and East and Northeast Asia earthq
uakes, tsunamis and landslides threaten poor populations in the Pacific Ring of Fire.
reform, Yu said, adding that there has been no intervention in the forex market through sales of such reserves for a long ti
me, even though the renminbi may be under depreciation pressure amid global monetary easing.亚博yabo平台会所
According to SAFE, the major task for foreign exchange management this year is to enhan
亚博yabo平台会所ce midand long-term asset allocation and optimize and adjust investment strategies.
Xie Yaxuan, chief analyst at China Merchants Securities, said there is a global tren
d where countries with large holdings of reserves tend to focus on long-term and relatively stable inves亚博yabo平台会所
tments, such as infrastructure construction, to hedge against potential fluctuations in bond and equity markets.
“A shift toward using domestic currency is another trend,” he added.亚博yabo平台会所
Profitability is generally accepted by the world’s major central banks as the
prime objective for reserve management, in addition to safety and liquidity. The em
亚博yabo平台会所品茶微信phasis on the return objective has generally increased over time, according to experts.
SAFE said in its annual report that China had achieved a 10-year return rate of 3.68
percent on average on its foreign exchange reserve investments from 2005 to 2014.
Wang Chunying, a spokeswoman for SAFE, said the investment retu亚博yabo平台会所
rn rate was at a relatively good level compared with those of global peers.
“China’s forex reserve currency structure is diversified, even more diversifie
d than the global level on average,” Wang said. “It is in line with the requirements of China’s e亚博yabo平台会所品茶微信
conomic and trade development, as well as the demand for international payments.”
Prospective returns on China’s vast foreign exchange reserves are likely to remain
亚博yabo平台会所stable at more than 3 percent, and the regulator is optimizing investment strategies this year to incre
ase asset values and reduce the adverse impact of foreign exchange rate fluctuations, according to economists.
Zhao, from the China Financial Futures Exchange, said it is also a trend for global mone亚博yabo平台会所品茶微信
tary authorities, including the PBOC, to increase gold in their reserve portfolios to pr
epare for any shocks resulting from financial risks and foreign exchange rate fluctuations.
by the US leader as the “right man for the job”, told the US leader at a
Sunday breakfast meeting that “we don’t like tariffs on the whole … We are in favor of trade pe亚博yabo平台乌托邦品茶微信
ace”, having said on his arrival on Saturday that the trade war was “not the right way to proceed”.
亚博yabo平台乌托邦Rarely have European leaders spoken with such unity on an issue. By doing so they will have hoped to drive home the messa
ge to the US leader that in a closely interconnected global economy, no one wins in a trade war, everyone loses.
Hopefully, that message has been received, since the US leader said on Monday that the two sides will begin亚博yabo平台乌托邦
“serious negotiations” soon, as both sides understand the consequences and where the other stands.
China wants to make a deal. But that deal can only be reached based on equality and mutual re亚博yabo平台乌托邦品茶微信
spect. It does not want any “decoupling” of the world’s two largest economies, as some in the US have tru
亚博yabo平台乌托邦mpeted, knowing it benefits from that coupling. But it will not acquiesce to unreasonable demands.
Let us hope his talks with the European leaders have helped the US l
eader appreciate that the interconnectedness of the US and Chinese economies also b亚博yabo平台乌托邦品茶微信
enefits the US, and that a trade deal is in everyone’s best interests, the US included.
China, the second-largest economy of the world and neighbor to 21 countries, is set to celebrate its 70th anniversary on October 1.亚博yabo平台乌托邦
The path of development set by the Chinese leadership and the Communist Party of China was n
亚博yabo平台乌托邦ot an easy job as there was much suffering in the prior century before it founded as a sovereign state.
The vision and statesmanship of the Chinese leadership and commitment of its people ch亚博yabo平台乌托邦品茶微信
anged the status of the country from one with a backward economy tow
ards a prosperous one that is playing an active role in the international arena.
the full pricing-in of opinions from bulls and bears, an uptrend wi
h fluctuations, and a return to rationality,” the SSE said in the announcement.亚博yabo平台夜生活
Relaxed price fluctuation limits have enabled the STAR Market stocks to be more timely priced, leading to higher p
ricing efficiency than the main board, according to analysts from Shenwan Hongyuan Securities.
亚博yabo平台夜生活女神会所Securities regulators lifted price fluctuation limits for STAR stocks in their first five trading days, and thereafter a 20 pe
rcent daily price fluctuation limit is effective, versus a 10 percent limit on the main board.
Analysts expect trading on the STAR Market to become more rational in the medium term, with valuation levels to bet亚博yabo平台夜生活
ter reflect company fundamentals. Firms with strong fundamentals may sustain high
valuations, while weaker ones may see a marked divergence in stock price performance.
The market-oriented initial public offering mechanism亚博yabo平台夜生活女神会所
of the STAR Market, or the registration-based IPO system, also showed its effect, with the 28 STAR li
stings’ price-to-earnings ratios of offer price varying from 18 to 269, according to SSE data.亚博yabo平台夜生活
This marked a difference from the main board, where almost all new offerings are p
riced at a maximum of 23 times earnings under the approval-based IPO system.
亚博yabo平台夜生活女神会所The SSE also disclosed that during the first trading month of the STAR Market, it strengthened
supervision on illegal trading and dealt with eight cases of abnormal trading behavior on the new board.
No-go areas for gasoline vehicles to spur new energy sector’s development亚博yabo平台夜生活
China is encouraging local authorities in regions with appropriate conditions
to set up no-go zones for gasoline cars and use more new energy vehicles for public trans
port, which analysts and industry insiders say will help boost the industry’s development.亚博yabo平台夜生活女神会所
“Regions with ripe conditions have our support if they establ
ish trial projects to establish no-go zones for gasoline-powered vehicles
and replace such vehicles with new energy vehicles in the urban public transport system,”
said the Ministry of Industry and Information Technology in a statement on its website on Tuesday.
?defense industry is to increase national defence capabilities in every way, the KCNA reported.
On Saturday morning, the DPRK fired two short-range ballistic missiles off its eastern coa?亚博yabo平台会所品茶微信
st in South Hamgyong Province, according to South Korea’s Joint Chiefs of Staff.
?亚博yabo平台会所Saturday’s test marked the seventh missile launch by the DPRK sinc
e July 25 and the ninth this year, which came after the end of a joint annual military exercise
s between South Korea and the United States earlier this week.ver since radical demo?亚博yabo平台会所
nstrations broke out, Hong Kong’s economy has been severely affected, with finance, trade, tourism, and resta
urants suffering the most. Hong Kong needs to stop the violence and restore the economy right now.
?亚博yabo平台会所品茶微信Married men outnumber women when it comes to having a supportive att
itude toward stay-at-home fathers, showed a recent survey by the China Youth Daily.
Of the 1,987 married people surveyed, 52.4 percent of male?亚博yabo平台会所
respondents are supportive of men being a full-time ca
regiver of children, whereas the figure among women was slightly lower, standing at 45.8 percent.?亚博yabo平台会所
“The fact that dads are willing to be more involved in their children’s lives shows that the traditional mentality of ‘career husb
and and domestic wife’ is changing,” Zhang Baoyi, a professor on sociology at the Tianjin Academy of Social Sciences, tol
?亚博yabo平台会所品茶微信d the newspaper, adding that society is accepting diverse values and ways of parenting.
However, more mothers remain the one juggling their children while trying to stick to hou
sehold duties. Close to 36 percent of respondents said mothers are the primary caregiver, an?亚博yabo平台会所
d the proportion of fathers playing the role is only 16.7 percent, according to the poll.
The survey suggested that the stereotyped image of husbands being the bre?亚博yabo平台会所品茶微信
adwinner prevents fathers from doing so as nearly 60 percent expressed such concerns.
“To embrace the practice, we need to recognize the contributions and val?亚博yabo平台会所品茶微信
ues of homemakers,” said Zhang, believing the stereotype will change as society evolves.
Among the respondents, 45.7 percent were men, and 89.2 percent had children.
President calls for better livelihoods, healthier growth
President Xi Jinping called for further efforts in poverty reductio亚博yabo平台419
n as he concluded his four-day inspection tour in Gansu province on Thursday.
亚博yabo平台419品茶微信Xi, also general secretary of the Communist Party of China Central Committee, urged local governments to strengt
hen environmental protection, strive to improve people’s livelihoods and secure high-quality development.
After hearing a work report by local government officials on Thursday, he said intensified efforts must be made in po亚博yabo平台419
verty reduction with an emphasis on solving prominent problems that affect rural residents, including access to comp
亚博yabo平台419品茶微信ulsory education, basic medical services and safe housing, while ensuring they have adequate food and clothing.
He required local government officials to identify and assist povert
y-stricken people house-by-house and village-by-village in impoverished areas.亚博yabo平台419
Saying people’s livelihoods must be ensured and improved, Xi added that the issues t
hat matter to people, such as education, medical services and transportation, should be addressed.
The president called on local governments to advance supply-side structural reforms, accelerate the upgr亚博yabo平台419品茶微信
ading of traditional industries, cultivate emerging industries, actively develop high value-added agriculture and coordi
nate protection and development of tourism resources to secure high-quality development.亚博yabo平台419
He also urged Party committees at various levels and leading officials to earnestly develop the educational ca
亚博yabo平台419品茶微信mpaign themed “Staying true to our founding mission” among all Party members, fight against corruption, prom
ote clean governance, improve work efficiency and resolutely overcome bureaucracy and formalism.
On Wednesday morning, Xi visited the Huanghuatan community in Gulang county, home to亚博yabo平台419
people relocated from environmentally vulnerable and impoverished areas. There he visited Li Yin
gchuan’s new home, with a clean yard and well-equipped kitchen and bathroom facilities.亚博yabo平台419品茶微信
Seeing the changes from a photo of Li’s home before relocation, Xi said he was very ple
ased at the great progress achieved in people’s working and living environments.
seminars, salons, book launches and many others.
One day before the opening of BIBF, the 13th Special Book Award of China was held in Beijing亚博yabo平台夜生活
to honor 15 foreign writers, translators and publishers who have helped spread Chinese culture.
亚博yabo平台夜生活女神会所Romanian translator Ioan Budura was one of the award winners. He said he felt enc
ouraged by the honor and wanted to “continue supporting the communication betwe
en China and Romania” in the future. Romania is also featured as the guest of honor of the fair this year.亚博yabo平台夜生活
A Beijing International Publishing Forum was also held on
Aug 20 to discuss how to improve the quality of publishing content and promotion.
亚博yabo平台夜生活女神会所A Hong Kong pavilion has also been opened at the book fair despite the special administrative region’s recent troubles.
“It is Hong Kong’s ninth visit to BIBF, and we want to exchange Hong
Kong’s creations with people in the publishing business and with readers through this o亚博yabo平台夜生活
pportunity,” said Lee Ka Kui, chairman of Hong Kong Publishing Federation Limited.
Lee admits the recent chaos in Hong Kong has negatively affected publishing th
ere since many retail bookstores have closed and much fewer people attended the H亚博yabo平台夜生活女神会所
ong Kong Book Fair that was held on July 17-23. He hopes violence will cease and communication will continue.
This time, 66 Hong Kong companies brought over 2,000 books and other works. One feature of their pavilion is a cre亚博yabo平台夜生活
ation corner showcasing many STEM books – about science, technology, engineering and mathematics.
“It seems STEM books are quite popular in the world now, and we want to follow that trend,” Lee said.
亚博yabo平台夜生活女神会所The pavilion also contains an artistic and cultural zone exhibiting some Cantonese books.
“I hope we will bring more Chinese mainland writers and books to Hong Kong, and vice versa,” Lee said.
The establishment of a national ethics committee on science and technology will i亚博yabo平台夜生活
mprove supervision and ensure they develop along the right path, experts said.
“There have long been calls to set up a top-level ethics committee to亚博yabo平台夜生活女神会所
enable unified supervision of scientific research,” said Zhai Xiaomei, deputy dir
ector of the National Health Commission’s Expert Committee on Medical Science Ethics.
?the Legislative Council, the protests escalated.
On June 15, Hong Kong leader Lam suspended the bill. The next da亚博yabo平台千花网
y, Lam apologized and offered to “accept all criticism” and “serve the public”.
But the demonstrations did not stop.
亚博yabo平台千花网女神会所Paul Yeung, a Hong Kong-based researcher and commentator on public policy, said the protests against the extradi
tion bill have morphed into demonstrations against the local government’s manner of responding to pub
lic opinion. Thus the protests are continuing, though the bill has been declared “dead”, he said.
Some observers say many y亚博yabo平台千花网oung people who took to the streets were merely affected b
y peer influence, instigated by a small number of radicals, and lost their critical thinking and simply followed.
Yeung said another factor leading to the situation in Hong Kong is that the government亚博yabo平台千花网女神会所
has failed to respond in a timely manner to young people’s aspirations and sentiments throughout the process.
亚博yabo平台千花网He said channels that the Hong Kong government is to establ
ish to communicate with local people can help break the city’s current deadlock.
But he said it will be a difficult task, given the tense social atmosphere. “It is imperative to restore peace and r亚博yabo平台千花网
ationality to society, with both sides showing a willingness to compromise before dialogue,” he added.
Hong Kong was a British colony for more than 150 years, and p亚博yabo平台千花网女神会所
art of it, Hong Kong Island, was ceded to the United Kingdom after a war in 18
42. In 1898, China also leased the rest of Hong Kong－the New Territories－to the British for 99 years.
亚博yabo平台千花网Hong Kong returned to China in 1997, under the principle of “one country
, two systems”, which means Hong Kong is part of China and enjoys a high degree of a
utonomy, except in foreign and defense affairs, as stipulated by Hong Kong’s Basic Law.亚博yabo平台千花网女神会所
Hong Kong’s leader, the chief executive, is currently elected by a 1,200-member election committee.
Chinese officials and experts have urged politicians in the United States to stop using the situat
ion in Hong Kong as a bargaining chip for negotiations or as leverage for fueling competition with Beijing.亚博yabo平台乌托邦品茶微信
Senior politicians such as US Vice-President Mike Pence and House Speaker Nancy Pel
osi have spoken out on or pushed legislation concerning the recent violent protests in the city.亚博yabo平台乌托邦品茶微信
Pence angered China on Monday by telling the Detroit Economic Club that “for the Un
ited States to make a deal with China”, Beijing needs to “respect the integrity of Hong Kong’s laws”.
亚博yabo平台乌托邦”Our administration will continue to urge Beijing to act in a humanitarian manner,” Pence added.
In response, the Foreign Ministry’s Commissioner’s Office in the Hong Kong Special A
dministrative Region said on Tuesday that China resolutely opposes any country attempting to “take Hong Kong’s s亚博yabo平台乌托邦
tability and prosperity as well as the well-being of more than 7 million Hong Kong residents as a bargaining chip”.
“Do not daydream about China making a deal using its territorial sovereignty and national reunification,” an unnamed spokesperson亚博yabo平台乌托邦品茶微信
said in a statement, calling for a halt to intervention in China’s domestic affairs, including Hong Kong affairs.
On Aug 6, Pelosi said in a written statement that “the extraordinary outpourin
亚博yabo平台乌托邦品茶微信g of courage from the people of Hong Kong stands in stark contrast to a cowardly government”, and she reite
rated her call for suspending “future sales of munitions and crowd control equipment to the Hong Kong police force”.
President Xi Jinping, also general secretary of the Communist Party of China Central Committee, visits J
iayu Pass, an ancient?fortress at the west end of the Great Wall, on Tuesday during his inspection tour of Gansu prov亚博yabo平台楼凤
亚博yabo平台楼凤President Xi Jinping underlined the need to preserve the finer features of the nation’s c
ulture, and called for extensive interactions between Chinese and foreign cultures as the coun
try promotes inclusive international cooperation in the Belt and Road Initiative.亚博yabo平台楼凤品茶微信
Xi, also general secretary of the Communist Party of China Central Committee, made the comment at a sympos
ium attended by experts and scholars at the Dunhuang Academy in Dunhuang, home of the UNESCO World H
eritage Site Mogao Grottoes, during his inspection tour in Gansu province on Monday.亚博yabo平台楼凤
Xi learned from a local official of the production and performance of
亚博yabo平台楼凤major cultural shows like?Silk Road, Flower Rain, a classical Chinese dance drama.
The president stressed the need to step up support in carrying forwar
亚博yabo平台楼凤品茶微信d and promoting China’s traditional culture to preserve “our quintessence”.
Saying that Dunhuang displays the Chinese nation’s confidence in its cu
lture, the president added that only a self-confident civilization can absorb and draw亚博yabo平台楼凤
on the achievements of other civilizations in an inclusive manner while maintaining its own features.
As the nation strives to rejuvenate its culture, it needs to be more inclusive to extensively develop cultural exchanges wit亚博yabo平台楼凤品茶微信
h other countries and actively draw on the outstanding achievements of civilizations around the world, Xi said.
He encouraged cultural experts to tell the stories of Dunhuang and spread the voice of China to亚博yabo平台楼凤
the rest of the world in an effort to promote international cooperation on the BRI.
Dunhuang, an oasis located at a religious and cultural crossroads on the Silk亚博yabo平台楼凤品茶微信
Road, boasts more than 2,000 sculptures and 45,000 square meters of murals in 735 cliff caves.