Report: China’s speed of development rarely seen

The speed of China’s development has rarely occurred in economic h

istory, with the country’s economic aggregate breaking 90 trillion yuan over the last 70 yea

rs for China to become the world’s second-largest economy in 2018, said financial news outlet Yicai on Friday.

In 1952 China’s GDP was 67.9 billion yuan, with per-capita GDP standing at 119 yuan.

In 2018 the two figures surpassed 90 trillion yuan and 64,644 yuan, making for respective multiplications of 1,325 and 542 times.

The first Five-Year Plan (1953-1957) began China’s industrialization, concentrating efforts on developing heav

y industry and establishing the foundations for the modernization of national defense.

On the plan’s completion in 1957, China’s GDP reached 106.9 billion yuan, a 57 percent increase compared with 1952.

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By contrast, forming an娱乐地图品茶微信en’s team to cli

imb Mount Qomo娱乐地图品茶微信langma had long been a dream for Ma. She formed a squad in 201

4 but had to abandon plans to climb the mountain after a deadly avalanche, and a dev

astating earthquake in Nepal in 2015 put paid to her mountaineering ambitions that year too.

For the last six years, Ma has run an expedition company in partnership with Nepali climb

ers, and it was her company which organized this year’s expedition for the Chinese trio.

For her, the main objective of forming an all-women team was to chal

lenge perceptions and break down barriers for women in the largely male-dominated cl

imbing world. However, it was a daunting task for the three to climb Mount Qomo

langma this year, because of the limited window for climbing and different speeds of the team members.

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Sun was joined o上海龙凤1314女神会所expedition by other

 two female Chi上海龙凤1314女神会所nese climbers: Ma Liyamu from the Xinjiang Uygur autonomous region, and Tsang Yin Hung from Hong Kong.

For Ma and Tsang, it was their second ascent to the summit of Mount Qomolangma, as Ma had reached th

e top of the mountain in 2016, and Tsang conquered it in 2017. But for Sun, this was her first such experience.

“What surprised me when I reached the top was the shadow of Mount Qom

olangma on other mountains. It was simply magnificent and stunning and it was a heavenly experience,” she shared.

Growing up, Sun didn’t have any aspirati

ons to climb Mount Qomolangma, but she loved drawing, especially nature and mountain scenes.

Having worked as a designer, she had some mountaineering exp

erience after climbing Mount Manaslu in September last year. Before she came into contact w

ith Ma, it was not in her mind to form an all-female, all-Chinese team to summit the mountain.

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The 5.1 percentage point growth of leverage ratio is

s out of ou上海品茶微信女神会所r expectations, and it was maintained because of countercyclical policies,” said Zhang Xiaojing, a senior economist with the CASS.

But the deleveraging process should continue, and more measures will be introduced to ease the debt burden, especially

for the private sector, said Lian Weiliang, deputy head of the National Development and Reform Commission.

One of the key measures is to further promote the debt-to-equity s

wap program, to inject more social funds into indebted companies through holding the co

mpanies’ shares, the NDRC official said. “We will choose more qualified private companies to join this program.”

By the end of April, the total value of debt-to-equity swap reached 2.3 trillion yuan ($332.8

billion). More than 20 percent was for the centra上海品茶微信女神会所l State-owned enterprises, inclu

ding China Baowu Steel Group Co Ltd, State Power Investment Co Ltd, and China Shipbuilding Industry Corp, acc

ording to data from the State-owned Assets Supervision and Administration Commission.

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To achieve the government target of bringing down the

the percentage of adult smokers to 20 percent by 2030, we have a lot of work to do,” he said.

The biggest obstacle to tobacco control in China is the powerful toba

cco industry, which is one of the biggest tax contributors to the government, he said.

Despite an increasing number of cities having local regulations on tobacco control,

national legislation is still lacking, due to causes including influence from the industry, he said.

“Only a few big cities, such as Beijing, Shanghai and Shenzhen h

ave strict tobacco control regulations and law enforcement, but in most areas in China suc

h regulations are absent,” he said. “The prevalence of tobacco has caused serious health conseque

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Under the trade pressure, the world’s second-largest econo

onomy is accelerating restructuring reform and shifting from an export-dominated growth model to a more services-driven model, they added.

“The United States escalated trade tensions, but it cannot solve any problem. This causes volatility and sluggishness in global financial markets an

d hurts the global economy,” said Guo Shuqing, the People’s Bank of China’s Party secretary and also head of the China Banking and In

surance Regulatory Commission. His keynote speech was delivered by a commission spokesman at a forum on Saturday.

Impact on the Chinese economy will be very limited, said Guo. “Chinese fi

nancial markets, although they were excessively affected by trade tensions last year, are un

likely to be hit more dramatically going forward, as financial resilience is strengthening.”

The huge domestic consumer market in China will digest most of the un

salable exports, and many of China’s exports will also shift to other foreign markets. The US will con

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The IMF research, citing official data, found that the

 revenue collected by the US government through hefty tariffs on Chinese imports, has been paid almost entirely by US importers.

“Some of these tariffs have been passed on to US consumers, such as those on washing machines, wh

ile others have been absorbed by importing firms through lower profit margins,” the research said.

Any further increase in tariffs will likely be passed through to consumers, it said.

China and the US, the world’s two largest economies, have been embroi

led in a tit-for-tat trade confrontation over the past few months. Washington threatened to fur

ther escalate a tariff war and increased tensions by tightening restrictions on Chinese companies.

Earlier this month, the US raised tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, and China took coun

termeasures. Then the US administration listed about $300 billion more of Chinese goods for possible tariff hikes.

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ourage the innovation of original technologie

 and enhance intellectual property right protection, Xi said. He called on

the governments to build a stable, fair and transparent business environment, and to he

lp private enterprises and small and medium-sized companies to address their difficulties in finance.

Governments in the central region should attract advanced manufacturing enterprises moved from the coastal reg

ion, take part in Belt and Road international cooperation, enhance the protection of the environment, create m

ore jobs for poverty reduction and make relevant policies to support the rise of the central region, Xi said.

hina will further open and reform its markets, as well as facilitate a predictable busin

ess environment to help companies improve their ability to respond to risks, said the Ministry of Commerce.

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The star apologized for the potential negative influenc

uence from his misbehavior via his official Weibo account on Tuesday, promising better behavior in the future.

The Beijing Center of Health Supervision warned punishment would follow if they can confirm these violations, adding the ma

tter has been under investigation in a post released on its official Sina Weibo account on Tuesday.

Based on these regulations, individuals who smoke indoors are fined

50 yuan ($7.20), which rises to 200 yuan if the culprits refuse to correct their violations. In

2016, another famous actor, Wen Zhang, was fined 50 yuan for smoking inside a restaurant.

ours that provide a window on wildlife without harming the animals are a welcome development for Chinese ani

mal-lovers, a recent survey found, as most people say ‘no’ to any activities that might have a negative impact on animals.

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es it a large exporter of manufactured goods to the US and

Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco

nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa

tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.

To make up for the increasing savings gap, the US needs to introduce and use more foreign ca

pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g

rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.

What is really questionable is that, despite its contempt for over-regulation of the economy, the US administration has been tryi

ng to impose regulations on international trade, even for its trade partners’ domestic economic management.

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