The 5.1 percentage point growth of leverage ratio is

 out of our 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 measur

es will be introduced to ease the debt burden, es

pecially 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 com

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

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This has seriously violated relevant laws and regula

tions of China’s express industry and harmed the legitimate rights of Chinese clients, so the Chinese au

thorities decided to launch the investigation, Ma Junsheng, the bureau head, said in a statement on its website on Sunday.

“The fundamental rule of express services is that the service provider must deliver parcels to

designated addresses and receivers. Postal service administrators have the right to look into any

violations,” he said without mentioning the names of the clients that lodged complaints.

On Saturday, China announced that FedEx was put under investi

gation after Huawei Technologies Co claimed that FedEx, without providing any detailed expl

anation, diverted two parcels postmarked from Japan and destined for company addresses in China to the US. Th

e Chinese telecommunications equipment maker also said FedEx attempted

qw46q.cn

Although Huang was diagnosed with mild schizophrenia, th

the court said that it was not able to exempt him from punishment as the disorder d

id not have an obvious influence on his ability to distinguish between right and wrong.

“He had an extremely despicable motive, used an extremely cruel manner to carry out the cri

me, and caused a severe consequence and extremely negative social impact,” the court said.

The court pointed out that Huang had planned to carry out the crime for a long time, visiting

several kindergartens and primary schools in Shanghai and Guangzhou, South China’s Guangdong pro

vince, before deciding where to carry out the attack.Police examine the site of a knife attack that occurred in downtown Sh

anghai leaving two boys dead and another boy and a parent wounded on June

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Recent monetary and fiscal stimulus measures are expe

cted to bolster domestic demand, partially offsetting the adverse impact of trade tariffs on overall growth,” the report said.

The US recently signaled its intention to impose additional tariffs on the European Union, primarily targeted at the

aircraft and food industries. It is in addition to the imposition of steel and aluminum tariffs that are already in place.

Amid unresolved trade disputes and higher tariffs, the projected growth of world tra

de has been revised downwards to 2.7 percent in 2019, slowing markedly from 3.4 percent in 2018.

The report warns that “the impact of a spiral of additional tariffs and retalia

tions would not only dampen growth of these large economies, but also have severe spi

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Commenting on the suggestion of quickly shifting sou

rcing to countries other than China under the tariff specter, the FDRA said there had been com

panies moving away, but “footwear is a very capital-intensive industry, with years of planning required to m

ake sourcing decisions, and companies cannot simply move factories to adjust to these changes”.

Douglas H. Paal, vice-president of the Asia Program at the Carnegie Endowme

nt for International Peace, said the footwear industry’s complaints are justifiable, albeit a little late.

“Since their issues do not involve critical technologies, the

re might be room for the administration to offer a degree of relief,” Paal told China Daily.

www.goldenwing.org

hina’s growth a source of hope for allong proclaimi

With Chairman Mao Zedong proclaiming the founding of the People’s Republic of China on

Oct 1, 1949, the Chinese people began leaving behind a century of colonial humiliation and building a new life.

What remains poorly understood by the wider world even seven decades later is how dire were

the conditions in China during those days. While China sustained its triumph, Chinese people’s living stan

dard 70 years ago was barely 5 percent relative to their counterparts in the United States.

It was a dire starting point.

Transitions that raised China’s living standard

In the late 1970s, Deng Xiaoping introduced “reform and opening-up” policies

and established special economic zones, which ultimately facilitated China’s entry int

www.tcplea.cn

i also called for the two countries to further enhance

exchanges between their legislatures, political parties, youth, think tanks, media

and local authorities to cement their people’s support for friendly bilateral ties.

Bhandari said the joint building of the Belt and Road is a historic initiative and has an important global influence.

The initiative has served as a good platform for Nepal-China cooperation, she said.

The Nepali president expressed her congratulations on the

70th anniversary of the founding of the People’s Republic of China, and said

it is admirable what the Chinese people have achieved under the leadership of the Communist Party of China.

China is a true friend of Nepal, and Nepal sees opportunities in China’s prosperity and stability, Bhandari said.

www.deng-di.cn

The book includes 42 articles drawn from speeches an

 public remarks made by Xi from September 2013 to July 2018.

Since Xi proposed the BRI in 2013, he has spoken about the initiative on many occasions.

The discourses have provided guidance for the country to develop international cooperation, i

mprove global economic governance and promote the building of a community with a shared future for mankind.

Russia – There is no alternative to the peaceful solution of nuclear and

other issues on the Korean Peninsula, Russian President Vladimir Putin said Thursday, follow

ing a meeting with top leader of the Democratic People’s Republic of Korea (DPRK) Kim Jong-un.

Russia, for its part, is ready to continue cooperation to reduce tensions on the peninsu

a, and to strengthen security in Northeast Asia as a whole, said Putin at a reception in honor of Kim.

Putin said he was convinced that with active participation of the international community and all inte

rested states, the goal of ensuring lasting peace, stability and prosperity on the Korean Peninsula can be achieved.

www.sh419es.com

Four public holidays in 2018, namely the Spring Fest

ival, Tomb-sweeping Day, May Day and Dragon Boat Festival, all saw a marked increase in the number of domestic tourists.

During the three-day Tomb-sweeping Day holiday that ende

d on April 7, the number of domestic tourists reached 112 million, a 10.9 increase year-on-year.

Apart from sightseeing, more Chinese tourists now opt to exp

erience the cultural essence of their destinations by visiting local museums.

Over the past three years, visitors to Chinese museums have been growing by about 100 mi

llion each year, Liu Yuzhu, head of the National Cultural Heritage Administration, told reporters earlier this year.

During the week-long Spring Festival Holiday in 2019, more than 40 percent of the 415 milli

on domestic tourists visited museums, a report from the China Tourism Academy showed.

fyace.org

Bernard Dewit, chairman of the Belgian-Chinese Cham

ber of Commerce, said that industrial and trade relations between the EU and China will i

ncrease following the meeting, and that China has made great efforts to open its market to European companies.

“China’s new Foreign Investment Law, which has just been (approved), will greatly reassure European investors of the com

mitment of the Chinese government to further protect foreign investments in China,” he said.

Wang Yiwei, a professor of international relations at Renmin University of China, said in an article

published in the People’s Daily Overseas Edition on Wednesday that the Chinese and EU lead

ers’ strategic communication on important issues will help foster new areas for bilateral cooperation.

The concerted efforts made by the two sides to cope with the common challenges

and develop win-win cooperation will add stability to an increasingly uncertain world, he added.

Hu Yongqi contributed to this story.

trwater.com.cn