building a credit-based market regulation system. The bankruptcy mechanis

上海龙凤419品茶微信m is one part of the whole system. Besides local government, individuals and enterprises will also be regulated.

Companies with bad credit records will receive serious punishment, said Lian Weiliang, deputy head of the National Develo上海龙凤419

pment and Reform Commission. “For the worst scenario, the companies could be prohibited from the market.”

The measures for rating companies’ credit are being drafted, and market-oriented third-part上海龙凤419品茶微信

y institutions and industry associations will be involved in the rating process, according to Lian.

上海龙凤419According to the State Council’s guideline, individuals’ and co

mpanies’ credit performance will be recorded in a timely, accurate and comprehensive ma

nner, while targeted regulatory measures will be taken on market entities with different credit levels.上海龙凤419品茶微信

Credit defaulters will be held accountable in line with specific

regulations and laws and urged to rectify their irregular practices, it said.

上海龙凤419More efforts will be made to enhance credit regulation information disclosure and impro

ve regulatory efficiency by leveraging big data and other technologies, according to the guideline.上海龙凤419

The People’s Bank of China, the country’s central bank, is also buildin

上海龙凤419品茶微信g the country’s nationwide credit information system, which is composed of a national fin

ancial credit information database and market-oriented credit information institutions.上海龙凤419

By the end of August, the national database included information on 25.42 m

illion companies and 970 million individuals, becoming the world’s largest.上海龙凤419品茶微信

Including internet finance and peer-to-peer lending information in the national sys

tem is the next step in the top financial regulators’plan. The system will also in上海龙凤419

clude data from securities and insurance companies in the future, Wan said at an earlier conference.

“Information leakage and hacking could potentially be major threats to the credit information sy上海龙凤419品茶微信

stem’s security,” he said. “So far, the system is generally stable, and has not displayed any serious leakage risks.”

www.xujiaqing.net.cn

d in incorporating garbage classification into the rule of law.

 上海419品茶微信The regulations for example say that people can be fined up to 2,00

0 yuan for mixed garbage and 50,000 yuan for mixed transportation by units.

The regulations also hold that disposable cups and utensils cannot be used in the Shanghai Party internal office and  上海419government organs.

Hotels will no longer provide disposable household necessities or they’ll

 上海419品茶微信be fined at least 500 yuan and less than 5,000 yuan. Caterers cannot provide disposable tab

leware – if they do and fail to make corrections within a time limit, they will be fined the same amount. 上海419

Editor’s note: Japan has restricted the exports of three highly specialized products needed to make sem

 上海419品茶微信iconductors, smartphones and computers to the Republic of Korea, which could seriously hurt ROK enter

prises such as electronics giants Samsung and SK Hynix. At a meeting of the Council on Trade in Goods of the Wo

rld Trade Organization last week, the ROK criticized Japan’s move, saying it’s unjustified. What will be the impact of the Tokyo-Seoul spat on the regional eco

nomy and stability? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts follow: 上海419品茶微信

Tokyo vents anger against ROK moves

 上海419Japan has restricted the exports of the three products to the ROK mainly to vent its anger agai

nst the ROK Supreme Court’s ruling last year that Japanese companies must compensate Koreans forced

to work in mines and factories and as “comfort women” before and during World War II, ROK President Moon Jae-in’s 上海419品茶微信

hard-line policy toward Tokyo, and the two countries’ conflicting policies on the Korean Peninsula nuclear issue.

Besides, Japanese Prime Minister Shinzo Abe wants to portray himself as

 上海419a strong leader who brooks no nonsense so his ruling Liberal Democratic Party, along with

its coalition partner Komeito, can win two-thirds of the seats in the upper house election on Sunday. To some exte

nt, Japan also intends to show the United States that it will respond aggressively to any moves it considers harm 上海419品茶微信

ful to the country, so that the US stops coercing Japan to compromise its economic interests.

The author is Shanghai Academy research fellow Center for China and Glob

alization(CCG) invited researcher. The views don’t necessarily reflect those of China Daily.

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uary and it only took four months to reach an official agreement with the CSGKC administrative committee.

Biopharmaceuticals company InnoCare entered the CSGKC last year. Its founder and CEO, Cui Jis上海千花坊女神会所

ong, said the company will set up a production base in the CSGKC. Their first independent patented

上海千花坊new drug will hit the market by 2020 with an estimated sales value of 10 billion yuan.

Meanwhile, a General Electric bio-campus and an oncother

apy medicine manufacturing center of the international pharma company BeiGene wi上海千花坊女神会所

ll finish construction in the CSGKC this year. It will lead a new stage of development for the knowledge city.

Liu Jian, senior vice-president of BeiGene, said that the production center started construction in 2017. It is exp

上海千花坊女神会所ected to begin operating in the third quarter of 2019, with a production capacity of 24,000 liters of biological agent.

The CSGKC is also designated as a State-level pilot zone for the comprehensive reform of IP use and protection by the Sta上海千花坊

te Council. It has attracted the Patent Examination Cooperation Center of the National Intellectual Property Ad

ministration in Guangdong to settle in CSGKC. They are an important partner to build a whole IP chain in the area.上海千花坊女神会所

The center assesses patent invention applications, searches international patents and international preliminary applic

ations under the Patent Cooperation Treaty. It has processed 706,000 patent filings to date.上海千花坊

The center can handle more than 150,000 filings every year, covering machi

上海千花坊女神会所nery, electricity, communication, medicine, chemistry, optoelectronics and materials sectors.

Qiu Jiangwen, deputy director of the center, said it will participate in the Bay Area

‘s IP cooperation mechanism and promote the IP culture through various activities.上海千花坊

The local government is striving to improve the local investm

上海千花坊女神会所ent environment with better policies, infrastructure and public facilities.

Among them, the local government will provide housing and rent subsidies for professionals working in the CSGKC.

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 settlement and sales by banks stood at $6.6 billion, down 44 percent from H2 2018, SAFE data showed.

The reading indicated a relatively good supply-demand situation of the forex market, while monthly fluctuations refl娱乐地图

ected the overall stability of market expectations and the market-oriented adjustment of prices, Wang said.

娱乐地图女神会所According to Wang, China’s forex market showed stable sentiment amid trade frictions with the US and the exchanges bet

ween Chinese and American companies are still very close, which is playing a positive role.

“We are confident to cope with the changing situation and maintain the stability of cross-border capital flows in China,” Wang said.娱乐地图女神会所

A national bankruptcy mechanism is under discussion by policymakers, covering local gover

娱乐地图nments and enterprises, to prevent systemic financial risks, said a senior official with the central bank.

“The key task is to prevent debt default risk,” said Wan Cunzhi, director-general of the PBOC’s Credit Information System Bu

reau, at a news conference on Thursday. He said the mechanism will include inde

bted local governments, while market-oriented measures will be introduced to ease their debt burden.娱乐地图女神会所

Bankruptcy of local governments was rarely mentioned in China before, and the official didn’t re

娱乐地图lease more details on the mechanism. It reflected that policymakers have noticed the potential challe

nges and more measures are expected to strengthen financial stability, analysts said. Total local government deb

t reached 19.9 trillion yuan ($2.89 trillion) by May, according to the Ministry of Finance.娱乐地图女神会所

The State Council released a guideline on Tuesday for building a credit-based market regulation system. The bankruptcy mechanism is one part of the who

娱乐地图le system. Besides local government, individuals and enterprises will also be regulated.

Companies with bad credit records will receive serious punishment

, said Lian Weiliang, deputy head of the National Development and Reform Com娱乐地图女神会所

mission. “For the worst scenario, the companies could be prohibited from the market.”

The measures for rating companies’ credit are being drafted, and market-oriented third-part

y institutions and industry associations will be involved in the rating process, according to Lian.

www.chuangxiangjie.cn

we are declining less than the market. Instead we are increasing our market share, so it’s still quite a sizable

上海龙凤419女神会所business for us. We are keeping our profitability high and the cash flow is still good. The other businesses are growing in a co

mplicated market because the Chinese economy is not (growing) the same as before, and neither is Europe. The rest of t

he growth engines have grown in both sales and profits. It proves their contribution to profits.上海龙凤419女神会所

What’s your take on the current global economic uncertainty especially in US-China trade? How will this affect your company’s business?

上海龙凤419女神会所The world has become a much more complex place to do business. Although the trade friction hasn’t had a real impact on us

yet, we have of course paid attention to the two big superpowers in the world that not only have an impact on bila

teral relationships, but also worldwide. We believe in free markets, and global market uncertainty is det上海龙凤419女神会所

rimental to business activities. We think the world is global, technology is global, and knowledge is global. We will cont

i上海龙凤419女神会所nue to invest quite a lot worldwide, and of course in China. We have made two acquisitions, LiteMagic and WiZ. We con

tinue to invest here because we believe in the potential of the Chinese economy.

You had a big presence during last year’s CIIE. What about this year?上海龙凤419

We plan to make our exhibition space 50 percent bigger at about 300 square meters. Meanwhile, we wil

上海龙凤419女神会所l showcase our latest innovations, including Li-Fi to Li-Fi Generation 2, Zigbee based Hue, Wi-Fi-based

WiZ, horticulture lighting, animal lighting, 3D printing and other new applications.

Last time we talked about Li-Fia two-way, high-speed wireless technology similar to Wi-Fi, which uses light waves instead of radi

o waves to transmit data. Signify’s Li-Fi products could provide a broadband internet connection through light waves wi

thout compromising lighting quality. But it was the beginning of it. Now we can say that we have four pilots in China for Li-Fi – one

with the China Academy of Building Research, where they’re testing and improving the capacity of that technology. So, we’ve moved from prese

nting the technology to application, finding customers and developing pilots. So this is the big change from last time.

Do you have any plans especially in the Yangtze River Delta region?

We don’t only look at our investment from a geographic perspective. We have invested in research and development and China is ho

me to the second biggest R&D center that we have. We develop not only for China but also for the world. It’s mostly in

Shanghai but also in Shenzhen. With that company, we are “potentializing” it, which is increasing sales in China, but

also helping the products that company has worldwide. We believe in investment, and we’re going to invest more.

ezgpui191.cn

enness has helped build comprehensive partnerships both with developing and developed economies. Besides, the AIIB has

上海乌托邦品茶微信set the bar at par with other multilateral development institutions and forged a good working relationship wit

h them including the World Bank, ADB and the European Bank for Reconstruction and Development.上海乌托邦

The governance structure and decision-making process of the AIIB are based on multilateralism.

上海乌托邦品茶微信And despite China theoretically having a veto on significant issues by virtue of being the largest (ab

out 30 percent) shareholder, it has never used it even once-and would never use it without reason.

China has helped establish the AIIB to facilitate global development and regional con上海乌托邦

nectivity. And through the AIIB, China has been promoting constructive reforms in the global fin

上海乌托邦品茶微信ncial system and development institutions, without having any intention to replace them.

And fourth, the AIIB blueprint focuses on cautiously but professionally advancing development in a

ccordance with international standards, particularly because risk-aversion is the first rule of intern上海乌托邦

ational finance and it would be irresponsible to carry out random “social experiments” in global development.

上海乌托邦品茶微信The AIIB has prudently weighed the different and diverse requests from both developed and developing member econ

omies before taking any decisions so that the future of the projects are not jeopardized.

More important, the AIIB has improved its operations and strengthen上海乌托邦品茶微信

ed its governance capability in accordance with global norms, built an institutional cult

上海乌托邦ure, and formed dozens of professional teams. In the process, the bank has accumulated abundant expe

riences in investing in and maintaining sustainable infrastructure facilities. No wonder it has received the high

est credit ratings from the world’s three biggest rating agencies-Standard& Poor’s, Moody’s and Fitch.上海乌托邦

上海乌托邦品茶微信The author is an associate professor at the School of Government, and director of the Center for BRICS Cooperation Stud

ies at Beijing Normal University. The views don’t necessarily represent those of China Daily.

www.gzbbccc.com

ational disarmament process, because with the annulment of the INF Treaty, the US and Russia could develop new intermediate-a

上海419论坛品茶微信nd short-range missiles without constraints, which in turn could trigger a new global arms race.

Also, the US’ withdrawal from the INF Treaty could set off a chain reaction, as it is almost certain that Washington will now de上海419论坛

ploy intermediate-range missiles in Europe and the Asia-Pacific region, heightening regional tensions and fuelli

上海419论坛品茶微信ng an arms race and geopolitical competition among major powers. The new arms race, which could prompt majo

r powers to build new types of smart weapons, would pose a severe threat to international peace and security.

What is especially surprising is that some Western observers want to d上海419论坛

rag China into the discussions on certain international issues regardless of whet

her it is a party to such issues. Regarding the INF Treaty, which has played an important role in improving inte

上海419论坛rnational relations, promoting nuclear disarmament, even safeguarding global strategic balance and stability, and ther

efore remains very much relevant and significant even today, China has made clear that it is opposed to not only the

US’ unilateral withdrawal from the treaty but also the West’s efforts to make it part of a new nuclear treaty.上海419论坛

Of course, China is ready to participate in international cooperation and help maintain w

上海419论坛品茶微信orld peace and development, but only on the principle that all participating countries be made respo

nsible stakeholders. Any bilateral or multilateral agreements will be meaningless if the participating sides vio

late international rules and withdraw from them unilaterally to serve their own narrow interests.上海419论坛

The author is vice-president and academic dean of China

上海419论坛品茶微信Foreign Affairs University. The views don’t necessarily represent those of China Daily.

he Asian Infrastructure Investment Bank’s board of governors approved the applications of three African countries-Benin,

Djibouti and Rwanda-at its fourth annual meeting in Luxembourg on July 13, taking the total number of me上海419论坛品茶微信

mbers to 100. That the AIIB’s membership has reached the century mark reflects the high degree of global reco

gnition and trust it has earned as a multilateral development bank in just three and a half years.

Meticulous planning, constructive efforts and visionary leadership are need

ed to make a development bank successful in today’s turbulent global financial market. As

a China-proposed multilateral development bank, the AIIB has been playing a

pioneering role in innovative development by overcoming a series of challenges. And it has a

chieved success and global trust because of its strict self-discipline and painstaking pursuit of excellence.

www.ashddd.com

nstitute, said the company’s 5G smartphone will hit the st

reets in August and the testing speed of its model has reached one gigabit per second.上海夜生活品茶微信

Xiang Ligang, director-general of the Information Con

上海夜生活sumption Alliance, said this year will only see a very small number of 5G smart

phones sold, but companies are all trying to have the first-mover advantage to appeal to consumers.

According to a report by market research company Counterpoint, global 5G smartphone ship上海夜生活品茶微信

ments are expected to reach 108.2 million units in 2021, up an estimated 255 percent year-on-year.

Wigmakers in Juancheng county, East China’s Shandong province, are

making great strides toward the high-end market after several years’ stable development.上海夜生活

Juancheng is a small county with a history of 2,200 years in Sha

上海夜生活品茶微信ndong province, and has a history of more than 40 years in the hair-processing industry.

Hair-processing is one of the pillar industries for Juancheng, whi

ch is known for hair products, and also an important raw material distribution ce上海夜生活

nter and processing and export base for wig products. Currently, Juancheng has a pop

ulation of 900,000, among which 75,000, or nearly one-in-12 work in the hair-processing industry.

上海夜生活品茶微信According to Juancheng’s official website, 220 hair-processing enterprises have been set up in this county, pro

cessing more than 15 million units of wig products annually. In 2017, the hair-processing

industry achieved 1.09 billion yuan in import and export, accounting for 74.67 percent of the total.上海夜生活

In the peak season, there were nearly 2,000 small and micro businesses engaged in wig produc

tion, a man surnamed Liu from a local wig company told Chinese financial news outlet Yicai.

上海夜生活品茶微信Wigs, made from human hair or synthetic fiber, are becoming i

ncreasingly popular, not only in the entertainment industry but also in daily life.

China’s wig producers have high regional concentration, and mainly focus on Henan and Shandong provinces, accor

ding to Northeast Securities. In 2017, Henan’s export in wig products was $1.61 billion, accounting for 50.7 percent, w

hile in Shandong, exports reached $768 million yuan, accounting for 24.16 percent.

www.shoppingfair.org

With the Office of the United States Trade Representative threatening to impose new tariff

s on $4 billion worth of European Union goods, the trade conflict between the US and the EU has inten上海千花坊品茶微信

sified. And if the US makes good the threat it issued on July 1, the additional tariffs would cover $25 billion of EU go

上海千花坊ods-in April the US had decided to impose additional tariffs on $21 billion of EU products. In addition, the US adm

inistration launched a Section 301 investigation against the digital service tax of France on July 10.

Washington’s move seems to have roots in the 15-year-old dispute over the su上海千花坊

sidies given to Boeing by the US and to Airbus by the EU. The US is using tariffs t

上海千花坊品茶微信o exert pressure on the EU to reduce subsidies to Airbus so Boeing can maintain its competitiveness in the global ma

rket and the jobs in the US plane manufacturing industry could be protected.

The US is wielding tariff as weapon also to increase its bargaining chips in the negotiations over “three zeros”-zero ta上海千花坊

riff, zero tariff barriers and zero subsidy-for non-auto industrial products.

Since the US and the EU have wide differences over auto and agri上海千花坊品茶微信

cultural products, the negotiations remain mired in uncertainty, although Washington com

pelled Brussels to continue the talks by threatening to impose fresh tariffs on EU goods in April.上海千花坊

As US President Donald Trump prepares to launch his re-election campaign, he is trying to mitigate US farmers’ sufferings, as the

votes from the agricultural belts helped him win the 2016 presidential election. The US administration has pro上海千花坊品茶微信

vided numerous subsidies for farmers to help offset their losses due to the US’ trade disputes with China, the EU and othe

r economies, but subsidies alone cannot solve the farmers’ problems. So Washington has put some EU agricu

ltural products on the tariff list in an effort to protect its agricultural products market.

However, the fact that the EU has agreed to resume negotiations on subsidies to the plane ma

nufacturing industry does not mean it will not take countermeasures if the US does impose mo

re tariffs on EU goods. In April, when the US levied additional tariffs on $21 billion of EU go

ods, Brussels responded by imposing tariffs on€20 billion ($22.43 billion) of US products.

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 months this year was from non-CISA members, whose clean capacity cannot be guaranteed, he emphasized.

Liu Bingjiang, head of the Ministry of Ecology and Environment’s air quality management department, said at the same fo上海千花坊品茶微信

rum that it is unfair for companies with high operational costs on environmental protection to compete und

上海千花坊er the same market conditions against those investing little into environmental protection.

The authorities will bring in industrial associations to tighten emissions assess

ment on steel producers when granting exemptions from production restrictions, he said.上海千花坊

Those with poor environmental protection records or that scheme to cheat the assessment will be severely punished, he said.

上海千花坊品茶微信Currently, China enforces steel production restrictions in key areas on days forecast to have heavy air pollution, and

roducers with ultra-low carbon emissions are allowed to have lower or no production cuts.

More than 60 steel producers in key areas, with a total crude steel capacity of 260 million上海千花坊

tons, have upgraded to meet ultra-low carbon emission standards, according to Liu.

上海千花坊品茶微信China expects 60 percent (340 million tons) of existing crude steel capacity in key areas

to be made with ultra-low carbon emissions by 2020, according to a ministry guideline released this year.

Li Xinchuang, president of the China Metallurgical Industry Planni

g and Research Institute, said that to achieve low-carbon emissions involves upgrades in上海千花坊

the whole process of steel production, and more attention should be paid to procedures such as raw materials tra

上海千花坊品茶微信nsportation and storage, which often generate emissions that are difficult to contain.

China’s oil and gas industry saw steady growth in 2018, with expansion reported in both pr上海千花坊

oven reserves and annual output, according to the Ministry of Natural Resources on Monday.

In 2018, national exploration of oil and gas saw a total investment of 63.66 billio

n yuan (about $9.26 billion), up 8.9 percent year on year, the ministry said in a report on its website.上海千花坊品茶微信

Investment in oil and gas exploitation rose 24.7 percent to reach 203.11 billion yuan, according to the ministry.

www.asrunde.cn