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magazine of the Communist Party of China Central Committee. He said more efforts a
re needed to implement the proactive fiscal policy and boost efficiency this year.
Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.
Innovative financial tools will be introduced for debt swaps, and the indebted comp
anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea
d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.
“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this
round of debt swaps will not involve the government’s administrative orders, but depends on the ma
rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.
pplication software platforms of the Fengyun satellites for weather forecasting, as well as climate and environment monitoring.
They also requested a range of services, especially in monitoring rainfall, droughts, dust stor
ms, heavy fog and lightning, in addition to training courses on Fengyun meteorological satellite data ana
lysis, remote-sensing applications and data collection.
Many countries along the Belt and Road have high mountains, deserts, oc
eans and a lack of accurate meteorological information. The number of me
teorological disasters in the regions is more than double the global average, the administration said.
Wei Caiying, deputy general-director of the National Satellite Meteorol
ogical Center, said that real-time disaster monitoring by meteorological satellites co
uld provide these countries with a scientific basis for disaster prevention and reduction.
The Central Conservatory of Music will hold a festival from May 23 to 27 to celebrate the 80th anniversary of The Yellow River Cantata.
Written by composer Xian Xinghai (1905–1945) in Yan’an, Shaanxi pro
vince, in early 1939, the piece was inspired by a patriotic poem by Guang Weiran, and the lyrics
were adapted for the cantata. Premiered on April 13 of the same year in Yan’an, the work became, and remains, popular.
The conservatory’s symphony orchestra, choirs and chamber music grou
ps will join in the festival with 20 concerts, including the opening concert on May 23 condu
cted by Yu Feng, president of the university. The Yellow River Cantata will be performed by young singers.
Veteran Chinese musicians and singers, including Guo Shuzhen and Wang Xiufen, will perform during the festival.
Besides concerts, masterclasses and forums will be held in Yan’an.
The music festival will also celebrate the 70th birthday of the country.