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, giv
en 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
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.
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 em
issions 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-pow
ered 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.
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 colle
ct 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 5
0 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 spa
ce 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 pr
oject. 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.
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 launch
ed 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 ot
her 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 developm
ent 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, p
romote 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.
Border inspection agencies across China have seen more th
an 12.5 million entry and exit trips made during th
e week-long Spring Festival holiday that started Mo nday, an increase of nearly 11 percent than that of last year, the National Immigrati
on 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 per
cent 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.
ons 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.