tain a breakneck pace of economic development, which has brought booming economic prosperity.
Unfortunately, it has also brought a deteriorating environment. Seeing heavy smog, for ex
ample, many people feel that a worsening environment will destroy the happiness brought by economic growth.
Since 2012, the new leadership under President Xi Jinping has put forward a series of ecol
ogical ideas. On Sunday, Xi said at the opening ceremony of the exhibition that “green mountains and cle
ar waters are indeed mountains of gold and silver, and environmental improvement means great productivity”.
This idea, dubbed the theory of two mountains, enjoys immense popular support in China.
Xi, who is also general secretary of the Central Committee of the Communist Party o
f China, urged officials at all levels never to sacrifice the environment for economic growth.
ties brought by the BRI, which by some estimates could be worth 1.8 billion pounds ($2.33 billion) annually to the British economy.
As a financial hub for international infrastructure investmen
t, British firms and international companies based in the UK stand ready to provide many of the ser
vices required along the Belt and Road, especially as it becomes more of a shared venture, she said.
They can also provide private financing required by the project and support thro
ugh green finance, consultancy, rule of law and foreign exchange, McGuinness added.
Seventy years after the founding of the People’s Republic of China, ties between China and UK h
ave gone from strength to strength, with bilateral trade now worth nearly 70 billion pounds, McGuinness said.
“I look forward to celebrating this long, fruitful relationship with our Chinese counterp
arts, and to marking the next chapter of our partnership in the Belt and Road,” she added.
pply (M2),” said Sheng Songcheng, a central bank adviser and a former director of the central bank’s statistics department.
The central bank released M2 data on Friday, which recorded a 13-month high of 8.6 percent by the end of March, accelerating from 8 percent by February.
Aggregate social financing, a gauge to measure broader financial activities including trust funds and local govern
ment bonds, also grew faster than market expectations. That total financing amount grew to 2.86 trillion yuan in Mar
ch, or a 11.1 percent growth from a year earlier, compared with 10.6 percent in February, said the central bank.
“According to the latest economic data, there is less necessity for RR
R cuts, but it requires further observation on future changes,” said Sheng.
If the central bank further cuts the RRR, when economic growth is already stabilized, inflation wi
ll surge, and possibly lead to funds flowing into the property sector instead of supporting the real economy, he added.
ecially the development of the tourism sector, a pillar industry of China.
In fact, after the four-day holiday was announced on March 22, tourism-related stocks rose sharpl
y. Also, the number of tourists and tourism revenue during May Day holiday this year are set to increase by ab
out 8 and 9 percent year-on-year, respectively, according to China Tourism Academy.
But the actual number of holidays has not increased because April 28 and
May 5 being Sundays are make-up working days. And since there is a debate on whether t
he government should put people’s demand for longer holidays above economic development, the four-day hol
iday without reducing the number of working days will help the government and companies to strike a balance bet
ween maintaining economic development and meeting people’s need for longer holidays.
But why do Chinese people crave for longer holidays? They do so be
cause some employers, especially in some underdeveloped regions, have not given (or
have been reluctant to give) the paid leave to their employees. Besides, national holidays put
More than 60 countries will send naval delegations to participate in the 70th anniversary of the founding of the Peo
ple’s Liberation Army Navy in late April, a spokesman for the Ministry of National Defense said on Thursday.
The celebration will showcase the progress of the PLA Navy and its growing capabili
ty in safeguarding China’s overseas interests as well as regional and world peace, an expert said.
The multinational naval event will take place in Qingdao, Shandong province, in late Ap
ril, said ministry spokesman Senior Colonel Wu Qian. April 23 is the 70th anniversary of the PLA Navy’s founding.
The naval event will include high-level dialogues, an international fleet review, military band performances, cultural and sports e
xchanges as well as other activities, Wu said. Some nations will send military ships to participate in the fleet
review, though details are still in the works and will be announced at a later date, he added.