Ken

ercent from 8.1 percent at the end of December, the central

It’s hard to say that China entered a new cycle of credit expansion,” said Zhang Ming, chief eco

nomist at Ping An Securities. “For the whole year, the overall financing growth and money supply is expected to stabilize.”

Fast credit expansion means higher pressure on companies to repay debt and interest, and the space for sustainable credit growth i

s limited, given the current leverage level. Total outstanding debt has exceeded 250 percent of GDP, Zhang said.

The good news is that credit has been channeled effectively into the production sector, such as manuf

acturing and high-tech, and the healthier credit structure can support the overall economic r

estructuring reform, said Ruan Jianhong, head of the central bank’s statistics and analysis department.

hina and the United States will continue economic and trade consultations in Washington ne

xt week, after reaching consensus in principle on major issues during their high-level Beijing talks, State media reported.

According to Xinhua News Agency, the two sides had in-depth communication on topics of mutual concern including tec

hnological transfers, intellectual property rights protection, nontariff barriers, the service industry, agr

iculture, the trade balance and an implementation mechanism, as well as on particular issues of concern to China.

www.hdflower.net.cn

chin, who are here for a new round of China-US high-level econ

hina would like to address the problems of economic and trade frictions with the United States in a co

operative way to promote the conclusion of a deal accepted by both sides, President Xi Jinping said on Friday.

Xi made the remark while meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mn

uchin in Beijing. The meeting came after the conclusion of two days of high-level economic and trade consultations.

Xi added that certain principles are necessary for cooperation.

Chinese and US consultation teams made important progress for the current stage, a

nd the two negotiating teams will meet again in Washington next week for fur

ther discussions, Xi said. He added that the both nations should make more efforts for a win-win deal.

The two countries’ economic and trade teams have had frequent and helpful consultatio

ns since December, Xi said. He has emphasized many times that cooperation is the best choice for China and the US.

Cooperation will bring benefits to the two countries while conflicts will injure both sides, he added.

www.ax153.cn

Promising progress needs pushing forward to a deal Chin

In welcome news, it seems that the latest talks between China and the United States, which concluded on Friday, have further na

rrowed their differences and expanded their common ground on key trade and economic issues.

The two sides entered the two days of high-level talks on Thursday amid a flurry of positive sig

nals that progress was being made. And it seems that their candid discussions have continued to be rewarded.

There has clearly been movement on a number of topics that have been the focus of their recent tra

de rows. Speaking to President Xi Jinping after the talks wrapped up, US Trade Representative Ro

bert Lighthizer said the negotiators “feel we have made headway on very, very important and difficult issues”.

It is probably still too early to conclude that this heralds an end to the long-running trade d

ispute between the two countries, and it would be rash to be overly sanguine about the prospects for re

lations given Washington’s anxieties about China’s rise, which may simply be chann

eled in other ways. But the agreement between Xi and his US counterpart Donald Trump in December to press the pause button on frictions,

and the subsequent intense series of discussions to find ways to stop them escalating, show both sides are aware of ho

w damaging and potentially dangerous it would be to keep locking horns over their trade relations.

ax125.cn

Which is why US President Donald Trump’s latest remarks

that the negotiations have been progressing “very well” and he might reportedly even let the March 1 deadline “slide for a little while” — have been taken as portents that progress is being made and a positive result may well be on the way.

Especially as White House Press Secretary Sarah Sanders has raised the possibility of Trump meeting with Pres

ident Xi Jinping at the US president’s personal retreat at Mar-a-Lago in Florida, sometime in March — The White Ho

use has previously said the two leaders would have to meet to strike the final bargain.

The market never lies, as the saying goes. Let’s hope that’s true, because the stock market has already

cast a vote of confidence in China and the US being able to reach a deal. The bench mark S

hanghai Composite Index has rebounded more than 10 percent, and the Dow Jones industrial average, more than 15

percent, from their lows in December when Sino-US trade tensions were running high.

It is apt that melting snow symbolizes a new beginning, as positive progress in the talks would m

ean a convergence of expectations for bilateral relations and help ensure the Sino-US relationship has a s

olid foundation of mutual trust and good momentum for positive interaction at the start of its fifth decade.

www.ax142.cn

hina has seen 4.8 percent yearly growth in foreign dire

rect investment in January, and its high-tech service industry has seen the most dramatic increase in the use of foreign capital.

According to Ministry of Commerce data released Thursday, the country has attracted 84.18 bil

lion yuan ($12.41 billion) in FDI in the first month of 2019, up 4.8 percent year-on-year.

Foreign capital flowing to the country’s high-tech service sector in January has mo

re than doubled compared to the same period in 2018, reaching 15.77 billion yuan.

The total FDI used in the manufacturing industry has also climbed by 5 percent y

ear-on-year, totaling 26.7 billion yuan. The service sector has used 56.2 billion yu

an in FDI, up 5.1 percent, and the high-tech industry has seen a 40.9 percent yearly growth of FDI used.

FDI from the United States has seen a staggering 124.6 percent year-on-year growth.

ax142.cn

Despite China’s reiteration about it being committed to pea

ceful exploration of space and its openness to cooperation with any country in its development of space technology, the US will not give up its desire to hav

e dominance in this domain, and it is devoting a great deal of effort to presenting China and Russia as threats to serve this purpose.

Its huge investment in the development of a “Space Force” will, as a result, inevitably give rise

to an arms race off the Earth, which will shatter the human dream of the peaceful exploration of space.Be

ijing’s environmental watchdog is considering adopting the National VI (B) emission standards ahead of the cou

ntry’s scheduled time, aiming to reduce vehicle emissions and enhance air pollution control in the capital.

According to a draft plan published by the Beijing Municipal Ecological Environment Bureau on Monday, the new st

andard would come into effect first for diesel-powered trucks in public transportation and environmental sa

nitation industries and heavy-duty vehicles powered by gas in July, and then extend to other vehicles beginning in 2020.

Sales of these vehicles would be banned after the respective deadlines, but owners could

still register vehicles that meet the current standard one month after these deadlines, according to the draft.

www.jvuau.cn

Space a new realm for Sino-US cooperationational Space Ad

After the successful landing of the Chang’e-4 lunar probe on the far side of the moon on Jan 3, Ch

ina is planning to launch Chang’e-5, a more advanced lunar probe, later this year to collect samples from the moon.

The Chang’e-4 mission, the first such mission in history, was an important m

ilestone in the lunar exploration program of not only China but also the wo

rld. About 50 years ago, the United States’ Apollo 11 landed the first humans on the moon, marking a critical step in spa

ce exploration. But no human has landed on the moon after 1972. Since Apollo 11, according to the US, effectively en

ded its space race with the Soviet Union, the Americans abandoned all ambitions to further explore space.

“Project Apollo” did not prompt other countries to join the space race because no country ot

her than the US and the Soviet Union could afford the huge costs. Even the US found it extremely difficult to s

ustain the project. For example, the cost of launching the Saturn V rocket, the carrier of Apollo 11 in 1969, was nearly $40

0 million, almost equal to the total budget of the US National Science Foundation that year.

117xe.cn

China-US space cooperation would likely to prompt more

countries to join hands to develop space instead of choosing between China and the US, especially because after the end of the Cold War, international space cooperation has increased.

In fact, the International Space Station launched in 1998 has been operating thanks to the cooperat

ion between the US, Russia, Japan, some European countries, Canada and Brazil. The four maj

or satellite positioning systems — GPS (US), Beidou (China), GLONASS (Russia) and Galileo (Europe) — may also comple

ment each other to provide the most accurate positioning services. And once China and the US engage in a major sp

ace project, many other countries will join in and thus take space exploration to a new stage.

Sino-US space cooperation will stimulate the development of relevant industries and bring tangible benefits to the people. Space explora

tion will set in motion a series of space industries such as manufacturing, agriculture, resources, e

ergy and tourism. These may become new sources of growth for the world economy, promote industrial techn

ologies, and help address some global challenges such as climate change and energy depletion.

And the new products and services so generated will improve people’s lives and contribute to social progress.

www.113xe.cn

Trump announced last week that he will sit down with

for their second summit. Their first summit in Singapore last June resulted in Kim’s vague commitment to the “complete

denuclearization of the Korean Peninsula,” a term that his propaganda machine previously used w

hen it argued it would only denuclearize after the U.S. withdraws its troops from South Korea.

Trump’s top envoy for North Korea, Stephen Biegun, visited Pyongyang last week to work out details of the upcoming summit. After

being briefed by Biegun about his Pyongyang trip, South Korea’s presidential office said Sunday that U.S. a

nd North Korean officials plan to meet again the week of Feb. 17 in an unidentified Asian country.

The U.S. military arrived in South Korea to disarm Japan, which colonized the K

orean Peninsula from 1910-45, following its World War II defeat. Most U.S.

troops were withdrawn in 1949 but they returned the next year to fight alongside South Korea in the Korean War.

khlee.com.cn

More than 12 mln entry, exit trips made during Spring Fes

Border inspection agencies across China have seen more th

an 12.5 million entry and exit trips made during the week-long Spring Festival holiday that started Mo

nday, an increase of nearly 11 percent than that of last year, the National Immigration Administration (NIA) said Sunday.

Inbound trips exceeded 6.22 million, rising by about 9.5 percent than the figure of 2018, wh

ile outbound trips increased by nearly 12.5 percent to over 6.31 million, according to the NIA.

Over 7.22 million entry and exit trips during the holiday were made by mainland residents for personal p

urposes, including traveling and visiting family members, growing by nearly 16 percent year on year.

Destinations visited most included Thailand, Japan, Vietnam, the Republic of K

orea, Singapore, Malaysia and the United States, as well as Hong Kong, Macao and Taiwan, the NIA said.

koryoung.com.cn