The central bank will eliminate that interest rate margin

sooner or later, and guide commercial banks to lower lending rates closer to a market-determined level, Sun said.

“Theoretically, there is room for rate cuts of 1 percentage point,” said Zhang Tao, a

n analyst in the financial market department of China Construction Bank.

China has enacted both monetary and fiscal policies to offset downward pressure on eco

nomic growth this year. Some economists have predicted the growth rate may slip in the first quarter be

low the 6.4 percent of the past three months of 2018 because of factors such as trade tensions.

US Federal Reserve Chairman Jay Powell decided on Jan 30 to shelve a plan to keep raisi

ng interest rates because of possible risks to US growth. The European Central Bank stopped exp

anding quantitative easing and warned about the negative results of Brexit.

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It could be the number of deaths among the elderly in rur

ral areas are at their lowest in February and March after discounting for the effects of winter’s cold snaps. Currently, a

bout one-fifth of the population aged 80 and above have moderate to severe disabilities and chronic illnesses, but it is als

o a fact that happier people cope better with illness and disability, regardless of age. Several studies in China clearly show tha

t a key factor in elderly people’s life satisfaction is spending quality time with their children and close friends.

It also wouldn’t be surprising if monthly births registrations in many villages and s

mall towns show a spike around November and December this year, as a re

sult of the coming together for an extended period of millions of spouses during the Spring Festival.

Furthermore, Chinese society places a high premium on marriage and childbearing with

in marriage for young adults, and Spring Festival is the peak time

for matchmaking in rural areas. So, we may expect this year’s holiday period to have yielded above average levels of suc

cessful matchmaking of future spouses by pro-active parents. This social function of the festival should not be o

verlooked, especially with the persistently rising age of people getting married for the first time in China.

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The central authorities plan to adopt the National VIemission

The bureau is soliciting public opinion on the draft until Feb 20.

With the new standard, major polluting gas from light-duty vehicles, including ca

rbon monoxide and nitrogen oxide, will be reduced by about 50 percent and em

issions of particulate matter will be reduced by about 40 percent, according to the bureau.

For heavy-duty diesel-powered trucks, the emissions of nitrogen oxide and particulate matter are expected to drop by more than 60 percent, it said.

Mobile sources, mainly vehicles, contributed 45 percent of locally generated

hazardous particles known as PM2.5 in 2017, outnumbering all other types of sources, according to the bureau.

Beijing has seen continuous improvement in its air quality. The PM2.5 density in th

e capital in 2018 stood at 51 micrograms per cubic meter, down by 12.1 percent year-on-year.

Officials and experts have said, however, it could be increasingly challe

nging for the city to further reduce air pollution after the local government has taken all ma

jor measures that could achieve quick results, including the shifting of bulk coal to clean energy as a heating source.

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Holiday week spending over 1 trillion yuannd day of the Chin

Chinese consumers opened their wallet during Spring Festival, not only on things like digital home appliances and importe

d fresh food but also on experiences such as travel and entertainment, government figures showed.

Shopping, dining out, travel and entertainment accounted for most of the consumer spending during the week-long hol

iday. Analysts and officials said the strong domestic demand will inject further growth momentum into the eco

nomy in 2019 as the government unveils more policies to spur consumption.

Spending on retail and food services during the Spring Festival period, from Feb 4 to Sunday this year, exceeded 1 trilli

on yuan ($147.41 billion) for the first time, up 8.5 percent year-on-year, according to the Ministry of Commerce.

The ministry said a key term for Lunar New Year holiday spending was “seeking higher quality” as the government’s em

phasis on upgrading consumption continues. Emerging areas for spending such as the internet, customized pr

oducts, experiences, digital products and services were growth areas during the holiday.

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“I can spend more time with my family and pay much less

for a house than in a big city,” he said. “I attended the first job fair to be held in my hometown on Sunday. I’m considering some job interviews and the salaries offered.”

Ningbo, Zhejiang province, will hold 44 job fairs from Tuesday to late March-42 percent more than last year.

Among them are eight large job fairs starting on Feb 16. More than 900 companies are ex

pected to attend each of the fairs, which will be held on Saturdays and Sundays for a month.

Starting in March, Ningbo will organize more than 2,200 compa

nies and government-affiliated institutions to attend 100 job fairs in 40 cities across Ch

ina, including Hangzhou, Zhejiang province; Xi’an, Shaanxi province; and Changchun, Jilin province.

Cities such as Taizhou, Zhejiang province; Heze, Shandong province; and Nantong, J

iangsu province, will also hold many fairs for job hunters and employers in February and March.

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Some conservatives in South Korea voiced concerns over a we

akening alliance with the United States at the same time as negotiations with North Korea to deprive it

of its nuclear weapons hit a stalemate. They said Trump might use the failed military cost-sharing negotiations as an excuse to pull back so

me U.S. troops in South Korea as a bargaining chip in talks with North Korean leader Kim Jong Un.

Trump told CBS’ “Face the Nation” on Feb. 3 that he has no plans to withdraw troops from S

outh Korea. During his election campaign, Trump suggested he could pull back troops from South Korea a

nd Japan unless they took on greater a share of the financial burdens of supporting U.S. soldiers deployed there.

South Korean media earlier reported that Trump demanded South Korea double its spe

nding for the U.S. military deployment, before his government eventually asked for 1.13 trillion won ($1 billion).

Seoul’s Foreign Ministry said the U.S. had called for a sharp increase in South Korean spending but didn’t elaborate.

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China and UK celebrate icebreakers, laud even closer ties

China and the United Kingdom should break the ice of protectionism and build an open an

d inclusive world economy, China’s ambassador to the UK, Liu Xiaoming, said in London on Thursday.

“China will continue to embrace the world with open arms and stands ready to work with oth

er countries. We hope the rest of the world would respond in the same spirit,” he said. “In a time when op

enness and inclusiveness are irreversible, protectionism has no future because it is against the trend of history.”

The remarks were made before 400 business, political, and cultural leaders at

tending a Chinese New Year celebration in London that was hoste

d by The 48 Group Club and the Chinese Chamber of Commerce in Britain.

The year 2018 marked the 65th anniversary of an “ice-breaking trip” to Chi

na in 1953 that was made by a group of farsighted people from the British business community.

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The fourth opportunity is the Belt and Road Initiative, Liu

said. In 2018, trade in goods between China and countries within the re

gion covered by the BRI stood at $1.3 trillion, a 16.3 percent increase year-on-year. It w

as 3.7 percentage points higher than the growth rate of China’s overall external trade.

More than 13,000 China Railway Express trains have traveled along the BRI routes to date, l

inking cities in China with 49 cities in 15 European countries, including London, he added.

Rona Fairhead, the UK’s minister of state for trade and export promotion, said trade be

tween the two countries is worth more than 66 billion pounds ($86 billion) annually.

“UK exports to China continue to go from strength to strength,” she said. “In this n

ew year, I very much look forward to continuing our close level of engagement w

ith China. It is clear that there is still untapped demand for British goods and services in the Chinese market.”

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Premier Li Keqiang sent a congratulatory message to the event in

which he lauded the efforts of The 48 Group Club in enhancing China-UK fri

endship. He said he hopes the organization will continue to carry forward the spirit of the “icebreaking tr

ip” and make greater contributions to the deepening of friendship between the two peoples.

The year 2019 marks the 65th anniversary of the establishment of the China-UK diplomatic relationship at the leve

l of charge d’affaires. Liu said he believes there are four major opportunities for the two countries.

The first is the Chinese economy remaining robust. Its 6.6 percent growth rate in 2018 was on

e of the fastest among major economies and contributed nearly 30 percent of global growth. China’s

overall GDP has exceeded $13.6 trillion, with the increment equaling the total GDP of a middle-income country.

According to Liu, China is shifting from high-speed growth to high-quality growth. Last year,

consumption contributed 76.2 percent of China’s economic growth, and online retail sales

increased by more than 20 percent. New industries, new products, and new business models have emerged.

www.ypcxf.cn

My China Album’ to celebrate 40 years of China-US memories

‘My China Album’ to celebrate 40 years of China-US memories
chinadaily.com.cn | Updated: 2019-02-07 12:57


Share Your Unforgettable Memories and Join Us in Celebrating the 40th Anniversary of China-US Diplomatic Relations

The Embassy of the People’s Republic of China in the United States of America and China Daily Launch “My China Album” Photo Competition

Guests pose for photos at the My China Album sign at the Chinese Embassy in Washington on Wednesday. [Photo by Z

hao Huanxin/China Daily]
WASHINGTON — My China Album, a story-sharing event focusing on the frie

ndship between people from China and the United States, was launched on Wednesday at a reception hosted by the Ch

inese embassy celebrating the 40th anniversary of the establishment of China-US diplomatic relations.

The event, co-organized by China Daily, China’s largest English-language ne

wspaper, which has a global audience, encourages Americans to submit photos an

d stories highlighting their most memorable experiences in China, especially their encounters with Chinese peo

ple. The top winner will receive two economy-class, round-trip airline tickets from New York to Beijing.

The exchange of visits between Chinese and American table tennis teams in 1971 and 1972 opened a new chapter in China-US friendly relations and contacts.

On Jan 1, 1979, the two countries officially established diplomatic relations. Since then, people-to-people excha

nges have helped cement a foundation and have played a key role in promoting understanding and mutual trust between the two countries.

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