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accelerate drought mitigation strategies and develop a regional sand-and dust-storm alert system. I hope the region can s

eize it to protect vulnerable communities from disasters in every corner of Asia and the Pacific.?乐动娱乐唯一正规官网千花坊女神会所

The author is under-secretary-general of the United Nations and executive secretary of the United Nations Economic a

?乐动娱乐唯一正规官网千花坊女神会所nd Social Commission for Asia and the Pacific. The views don’t necessarily represent those of China Daily.

As the new school semester approaches, groups in the Hong Kong Spe

cial Administrative Region voiced resolute opposition on Thursday to any individual or or?乐动娱乐唯一正规官网千花坊

ganization planning to bring politics onto campuses and into classrooms, including browbeating students into ski

pping school to attend rallies or bullying those who hold different political views.

?乐动娱乐唯一正规官网千花坊The concerns have been fueled by a recent call by Demosisto, a local political party, along with several student groups, for

all of the city’s secondary school students to skip class beginning Monday, without providing a more specific time frame.

Their statements also come amid widespread worries of bullying of students, especially children of the city’s police officers.?乐动娱乐唯一正规官网千花坊女神会所

At a news conference on Thursday, the Democratic Alliance for the Betterment an

d Progress of Hong Kong, the city’s largest political party in the Legislative Cou

?乐动娱乐唯一正规官网千花坊ncil, stressed firm opposition to the school strike campaign, saying politics should never trump education.

Recently, many parents have expressed concern to the alliance over possible effect

s on their children’s studies from a school strike, said alliance Chairwoman Starry Lee Wai-king. They also feared t?乐动娱乐唯一正规官网千花坊女神会所

heir children might be targeted or bullied by schoolmates for not joining the strike.

Responding to those concerns, the alliance strongly opposed the strike as it might drag innoc

ent students into the political conflict and disrupt the harmonious atmosphere on campuses.

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The latest escalation 乐动娱乐唯一正规官网419论坛 tension between Ch

hina and the US has cast a shadow on the next round of trade talks scheduled to be held in the US next month.

乐动娱乐唯一正规官网419论坛品茶微信Experts said that Liu’s remarks signaled China’s willingn

ess to continue trade talks with the US while sending out the message that i

t is confident and capable of maintaining stable growth and is prepared for the worst-case scenario.乐动娱乐唯一正规官网419论坛

“They showed China’s positive gesture ahead of the trade talks and that

乐动娱乐唯一正规官网419论坛品茶微信it is hoping to continue the negotiations and reach an agreement with the US,” said for

mer vice-minister of commerce Wei Jianguo, who is now vice-president of Beijing-based Chi

na Center for International Economic Exchanges, a government think tank.乐动娱乐唯一正规官网419论坛

“But the country is not fearful of the extreme US pressure, and it is capable of dealing with the worst results,” Wei said. “Th

ey (Liu’s remarks) were also a reassuring message to global companies and investors that China’s market reform an

d opening-up will not go backward, the Chinese economy is resilient and the government i乐动娱乐唯一正规官网419论坛品茶微信

s capable of shielding the economy from the negative impact of trade conflicts,” he added.

On Monday, Foreign Ministry spokesman Geng Shuang said that

乐动娱乐唯一正规官网419论坛the US administration’s threat to order US companies to seek alter

natives to doing business with China sounds more like a political slogan than a practical move.乐动娱乐唯一正规官网419论坛品茶微信

“Even if it were to happen, there would be others to fill the gap. In the

end, it would be the US that suffered the loss,” Geng said at a news conference.乐动娱乐唯一正规官网419论坛

The ministry said that the US tariff hikes have dragged down international trade and global economic growth, and it stro

ngly urged the US not to misjudge the situation and to stop the wrong moves immediately.乐动娱乐唯一正规官网419论坛品茶微信

“If the US puts the tariff measures into action, China will absolu

tely take measures to safeguard its legitimate interests,” Geng said.

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Jason Yu, general ma乐动娱乐唯一正规官网乌托邦arket consultancy Ka

ntar Worldpanel China, said the quality and good prices of Costco’s food products are a major

attraction to Chinese consumers, as the demand for such products has grown. The retailer could bol乐动娱乐唯一正规官网乌托邦品茶微信

ster its fresh food offerings to increase their customer retention rate here, Yu said.

乐动娱乐唯一正规官网乌托邦”As Chinese consumers put more stress on healthy products and higher living standar

ds, the retail industry’s growth has remained robust in China and the momentum will continue,” he said.

Wang Caidi, 57-year-old retiree in Shanghai, left the store with avocados, cheese, m乐动娱乐唯一正规官网乌托邦品茶微信

ilk and a pizza. She said quality foods enticed her to travel the 40 kilometers to the store.

“The products are of good value. I may come here one month later when it is less crowded,” she said.

乐动娱乐唯一正规官网乌托邦Membership at Costco Shanghai has been available since July 1, with an annual membership

card priced at 299 yuan ($42). The company put its Chinese membership at over 120,000.

The store, with a shopping area of 14,000 square met乐动娱乐唯一正规官网乌托邦

ers, is located in suburban Minhang district, nearly 30 km from the city’s center.

Richard Zhang, Costco’s senior vice-president for Asia, said on A

乐动娱乐唯一正规官网乌托邦品茶微信ug 20 that the location was influenced by the presence of seven international schools i

n the area, indicating a large group of middle class consumers who are Costco’s targets.

He also said that the market has matured sufficiently for Chinese consumers to be “ready to pa乐动娱乐唯一正规官网乌托邦

y for a membership card”. Little effort was spent on educating the market about membership.

Costco is the world’s largest membership-only re

乐动娱乐唯一正规官网乌托邦品茶微信tailer. Walmart, the world’s largest retailer, has opened 26 membership-based Sam’s Club stores in Ch

ina. The latest opened in June in northern Shanghai, only 10 km from the Costco outlet.

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Even British Prime M乐动娱乐唯一正规官网乌托邦oris Johnson, describe

by the US leader as the “right man for the job”, told the US leader at a

Sunday breakfast meeting that “we don’t like tariffs on the whole … We are in favor of trade pe乐动娱乐唯一正规官网乌托邦品茶微信

ace”, having said on his arrival on Saturday that the trade war was “not the right way to proceed”.

乐动娱乐唯一正规官网乌托邦Rarely have European leaders spoken with such unity on an issue. By doing so they will have hoped to drive home the messa

ge to the US leader that in a closely interconnected global economy, no one wins in a trade war, everyone loses.

Hopefully, that message has been received, since the US leader said on Monday that the two sides will begin乐动娱乐唯一正规官网乌托邦

“serious negotiations” soon, as both sides understand the consequences and where the other stands.

China wants to make a deal. But that deal can only be reached based on equality and mutual re乐动娱乐唯一正规官网乌托邦品茶微信

spect. It does not want any “decoupling” of the world’s two largest economies, as some in the US have tru

乐动娱乐唯一正规官网乌托邦mpeted, knowing it benefits from that coupling. But it will not acquiesce to unreasonable demands.

Let us hope his talks with the European leaders have helped the US l

eader appreciate that the interconnectedness of the US and Chinese economies also b乐动娱乐唯一正规官网乌托邦品茶微信

enefits the US, and that a trade deal is in everyone’s best interests, the US included.

China, the second-largest economy of the world and neighbor to 21 countries, is set to celebrate its 70th anniversary on October 1.乐动娱乐唯一正规官网乌托邦

The path of development set by the Chinese leadership and the Communist Party of China was n

乐动娱乐唯一正规官网乌托邦ot an easy job as there was much suffering in the prior century before it founded as a sovereign state.

The vision and statesmanship of the Chinese leadership and commitment of its people ch乐动娱乐唯一正规官网乌托邦品茶微信

anged the status of the country from one with a backward economy tow

ards a prosperous one that is playing an active role in the international arena.

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Xi urges furthering pov乐动娱乐唯一正规官网419ef effortsident Xi Jinp

President calls for better livelihoods, healthier growth

President Xi Jinping called for further efforts in poverty reductio乐动娱乐唯一正规官网419

n as he concluded his four-day inspection tour in Gansu province on Thursday.

乐动娱乐唯一正规官网419品茶微信Xi, also general secretary of the Communist Party of China Central Committee, urged local governments to strengt

hen environmental protection, strive to improve people’s livelihoods and secure high-quality development.

After hearing a work report by local government officials on Thursday, he said intensified efforts must be made in po乐动娱乐唯一正规官网419

verty reduction with an emphasis on solving prominent problems that affect rural residents, including access to comp

乐动娱乐唯一正规官网419品茶微信ulsory education, basic medical services and safe housing, while ensuring they have adequate food and clothing.

He required local government officials to identify and assist povert

y-stricken people house-by-house and village-by-village in impoverished areas.乐动娱乐唯一正规官网419

Saying people’s livelihoods must be ensured and improved, Xi added that the issues t

hat matter to people, such as education, medical services and transportation, should be addressed.

The president called on local governments to advance supply-side structural reforms, accelerate the upgr乐动娱乐唯一正规官网419品茶微信

ading of traditional industries, cultivate emerging industries, actively develop high value-added agriculture and coordi

nate protection and development of tourism resources to secure high-quality development.乐动娱乐唯一正规官网419

He also urged Party committees at various levels and leading officials to earnestly develop the educational ca

乐动娱乐唯一正规官网419品茶微信mpaign themed “Staying true to our founding mission” among all Party members, fight against corruption, prom

ote clean governance, improve work efficiency and resolutely overcome bureaucracy and formalism.

On Wednesday morning, Xi visited the Huanghuatan community in Gulang county, home to乐动娱乐唯一正规官网419

people relocated from environmentally vulnerable and impoverished areas. There he visited Li Yin

gchuan’s new home, with a clean yard and well-equipped kitchen and bathroom facilities.乐动娱乐唯一正规官网419品茶微信

Seeing the changes from a photo of Li’s home before relocation, Xi said he was very ple

ased at the great progress achieved in people’s working and living environments.

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What’s happening in 乐动娱乐唯一正规官网乌托邦e world next week

Chinese officials and experts have urged politicians in the United States to stop using the situat

ion in Hong Kong as a bargaining chip for negotiations or as leverage for fueling competition with Beijing.乐动娱乐唯一正规官网乌托邦品茶微信

Senior politicians such as US Vice-President Mike Pence and House Speaker Nancy Pel

osi have spoken out on or pushed legislation concerning the recent violent protests in the city.乐动娱乐唯一正规官网乌托邦品茶微信

Pence angered China on Monday by telling the Detroit Economic Club that “for the Un

ited States to make a deal with China”, Beijing needs to “respect the integrity of Hong Kong’s laws”.

乐动娱乐唯一正规官网乌托邦”Our administration will continue to urge Beijing to act in a humanitarian manner,” Pence added.

In response, the Foreign Ministry’s Commissioner’s Office in the Hong Kong Special A

dministrative Region said on Tuesday that China resolutely opposes any country attempting to “take Hong Kong’s s乐动娱乐唯一正规官网乌托邦

tability and prosperity as well as the well-being of more than 7 million Hong Kong residents as a bargaining chip”.

“Do not daydream about China making a deal using its territorial sovereignty and national reunification,” an unnamed spokesperson乐动娱乐唯一正规官网乌托邦品茶微信

said in a statement, calling for a halt to intervention in China’s domestic affairs, including Hong Kong affairs.

On Aug 6, Pelosi said in a written statement that “the extraordinary outpourin

乐动娱乐唯一正规官网乌托邦品茶微信g of courage from the people of Hong Kong stands in stark contrast to a cowardly government”, and she reite

rated her call for suspending “future sales of munitions and crowd control equipment to the Hong Kong police force”.

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The People’s Bank of乐动娱乐唯一正规官网千花坊on Saturday that it wil

ll improve the mechanism of the loan prime rate-the price of loans banks offer to their best clients-and use the mech

anism as the reference rate for business and household loans. The move was broadly seen as China’s effort to give th乐动娱乐唯一正规官网千花坊女神会所

e market a greater say in setting prices and to lower the real interest rate for companies.

乐动娱乐唯一正规官网千花坊”The rate reform will help reduce borrowing cost for companies so that they can expand investment and

production. It will also help improve corporate profitability,” said Yu Ke, an analyst at Guoyuan Securities.

The central authorities’ decision to support the development of Shenzhen also boosted the pric乐动娱乐唯一正规官网千花坊女神会所

es of technology companies on Monday as Shenzhen is the home of many high-tech and innovative firms.

The guideline also said that it will explore the registration-based initial p

乐动娱乐唯一正规官网千花坊ublic offering system on the startup board in Shenzhen and will support the city in car

rying out foreign exchange reform and accelerate the internationalization of the renminbi.

Ma Tao, an analyst at Caitong Securities, said that investment opportunities could emerge from technology sectors includ乐动娱乐唯一正规官网千花坊

ing 5G, artificial intelligence and life science as the guideline from the central authorities will help strengthen Sh

enzhen’s advantage as the leading technological and innovation hub for the country.乐动娱乐唯一正规官网千花坊女神会所

An index that tracks major securities brokerages also soared by 6.9 p

ercent on Monday as investors believed that a market rally will benefit securities firms.

乐动娱乐唯一正规官网千花坊The securities regulator has expanded the number of stocks qualified for the margin

trading and short selling business of the securities brokerage and has relaxed margin financing rules. The deci

sion became effective on Monday, which also helped lift the stock prices of securities firms.乐动娱乐唯一正规官网千花坊女神会所

Many young people in Hong Kong seem to have misunderstandings about the Chinese mainland and the United States.

No matter how noble an individual goal is, the collective outcome could be exactly the opposite of what each individual wa

nted. When I taught social decision theories, my students often could not believe thei乐动娱乐唯一正规官网千花坊女神会所

r eyes that collective decisions are necessarily dictatorial, even under very minimal assumptions. That is an implic

ation of the Arrow’s impossibility theorem developed by Nobel laureate Kenneth Arrow.

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The riots have become 乐动娱乐唯一正规官网会所iolent. The police ha

But this is also an exact description of the rising violence between two bitterly distrustful religious communities that I witn

essed on the streets of my native Belfast in British-ruled Northern Ireland exactly-uncannily-half a century ago as a te乐动娱乐唯一正规官网会所

enager in that unforgettable, agonizing August of 1969. The lessons I learned then would serve the people of the H

乐动娱乐唯一正规官网会所品茶微信ong Kong Special Administrative Region well today before they bring an unimaginable disaster upon themselves.

Violent protests against authorities never bring peace. They only bring war, destruction

and suffering-almost always on a scale that none of the demonstrators could have imagined when they took to the乐动娱乐唯一正规官网会所

streets. Prosperity never follows violent protests. At best, there is mass unemployment and despair as local bu

sinesses and national investment flee the territory-a process which could continue for decades. You do not build fac乐动娱乐唯一正规官网会所品茶微信

tories and hire workers when those factories could be razed in one of the endless clashes.

The “freedom” the demonstrators in Hong Kong have been demanding is illusory. It is fool’s gold. It is the mythical pot o

乐动娱乐唯一正规官网会所f gold at the end of the rainbow. This kind of “freedom” will never benefit the people of Hong Kong. At best it could be gra

nted, but at the cost of a serious decline in investment from both the Chinese mainland and other regions of Asia.

Hong Kong’s enormous advantage for decades, including the past two decades under Chinese a乐动娱乐唯一正规官网会所品茶微信

utonomous rule, has been that it is considered a secure, predictable and safe place to do business wit

h the mainland and with the wider region. But that no longer seems true. The longer the protests rage and the wi乐动娱乐唯一正规官网会所

der and more serious they become, the more that incalculable advantage will be eroded.

When I was a young boy, Belfast was still the largest ship building center on earth. In the late乐动娱乐唯一正规官网会所品茶微信

1960s, the British government invested in two gigantic gantry cranes called Goliath and Samson-at the time the

largest such pieces of machinery in the world-to build super oil tankers. They still stand today as tourist attr

乐动娱乐唯一正规官网会所actions, looming 32 and 35 floors high over the city. But they were never used industrially. Not once. The N

orthern Irish Civil War (known with masterly understatement as “The Troubles”) saw to that.

The great shipyard that at its peak employed 35,000 workers became an indust乐动娱乐唯一正规官网会所品茶微信

rial wasteland peopled only by ghosts. Even after peace finally returned to Northern Ir

eland, after 30 years of civil strife, the great complex on Queen’s Island never recovered, never revived.

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The essential feature乐动娱乐唯一正规官网千花坊alism with Chinese

characteristics is the leadership of the Party, which plays a central role in co

ordinating the overall situation, he said, citing Shen-zhen as a good example of ha乐动娱乐唯一正规官网千花坊

ndling the relationship between market and government since China’s reform and opening-up began.

乐动娱乐唯一正规官网千花坊女神会所Early this week, Washington will review its decision on Huawei as scheduled. It put the co

mpany on its export-control list on May 15, delaying the restrictions for three months from May 21.

Although it might be the US suppliers of Huawei that care more about the outcome than the Chinese telecommu乐动娱乐唯一正规官网千花坊

nications giant itself, the US should not try to hold Huawei hostage to try and force China into agreeing to an unfair trade deal.

Huawei is confident that no power can hold back the pace with which the world wil乐动娱乐唯一正规官网千花坊女神会所

l step over the threshold into the 5G era and equally sure of its leadership advanta

ges in that technology, which come from its innovation and foresight. It spends about $20 billion a year on research a乐动娱乐唯一正规官网千花坊

nd development, and it has reportedly already begun research on the next generation 6G telecommunications technology.

Its profitability has endowed its vision with practical meaning. In the first half of this year,乐动娱乐唯一正规官网千花坊女神会所

its sales revenue reached 401.3 billion yuan ($57 billion), up 23.2 percent year-on-year, realizing a net profit of a

bout $5 billion — last year the company’s annual net profit was about $8.4 billion.

乐动娱乐唯一正规官网千花坊Indeed, Ren Zhengfei, founder and CEO of Huawei, in his most recent

media interview, even thanked the US for letting the world know how good Huawei is.

Despite this, the US government should take the opportunity to rethink its decision on Huawei.乐动娱乐唯一正规官网千花坊女神会所

However, all the signs suggest the US will not change its mind. Meng Wanzhou, Huawei’s chief financial officer, is still being detaine

d by Canada at the request of the US, and there has been no indication she will be released.

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PBOC interest rate refo乐动娱乐唯一正规官网419 small businesses

Borrowing costs will get lower for companies in China starting Tuesday through a

key interest rate reform brought out by the People’s Bank of China, the central bank, to maintain ec乐动娱乐唯一正规官网419

onomic momentum amid the continuing trade friction with the United States.

乐动娱乐唯一正规官网419女神会所Analysts say the interest rate reform will lower financing costs for small a

nd private companies and encourage investment in the manufacturing sector.

The PBOC unveiled the policy over the weekend, saying it would introduce a new reference rate, the loan prime rate-the pr乐动娱乐唯一正规官网419

ice of loans banks offer their best clients-for setting the prices of business and household loans. The earlier re

乐动娱乐唯一正规官网419ference rate, the one-year benchmark lending rate, will be replaced in the future.

The announcement is seen as China’s most significant market-based interest rate reform for over a decade, experts said.乐动娱乐唯一正规官网419女神会所

The PBOC said in a statement that, starting Tuesday, 18 qualified commer

cial banks, including State-owned banks, city and rural commercial banks and foreign banks, will report their lend

乐动娱乐唯一正规官网419ing reference rate every month. Analysts expect the first loan prime rate will be much lower than the current 4.35 per

cent one-year benchmark lending rate, which has been unchanged since August 2015.

The statement said commercial banks will be allo乐动娱乐唯一正规官网419

wed to float the lending rates up by certain percentage points above the medium-ter

乐动娱乐唯一正规官网419女神会所m lending facility rate of the central bank. The medium-term lending rate is the cost that commercial banks sho

uld pay for borrowing from the central bank, and it was set at 3.3 percent on Thursday.

Sheng Songcheng, a central bank adviser and former head of the PBOC’s

statistics department, said the reform will help keep lending rates lower.

Moreover, the changes will enable the PBOC to effectively influence Chin乐动娱乐唯一正规官网419女神会所

a’s entire interest rate system by selling or buying financial instruments on the open

market, much like how Western central banks implement monetary policy, Sheng said.

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