New personal mortg亚博88娱乐场419论坛 to be based on LPR

China will link the personal mortgage loan rate to a new lending rate reference, starting fr

om Oct 8, to make it more flexible and market-driven, the central bank said in a statement on Sunday.亚博88娱乐场419论坛

For purchasing the first house, individual borrowers of new mortgage loan will pay an intere

亚博88娱乐场419论坛品茶微信st rate of no less than 4.85 percent – it is the five-year loan prime rate, or LPR, th

e new reference of bank lending reported by the People’s Bank of China, the central bank, on Aug 20.

Buyers of second house should pay an interest rate that is 0.6 perc亚博88娱乐场419论坛

entage point above the LPR, which will be 5.45 percent, said the statement.

The existing mortgage loans, with the contracts signed earlier than Oct 8, will keep the old interest rates unchanged, it added.

亚博88娱乐场419论坛品茶微信”That is almost at the same level of the current lowest person

al mortgage loan rate,” a spokesman with the PBOC said. “Compare with the si

tuation before the reform, the interest expense will be basically unchanged for borrowers.”亚博88娱乐场419论坛

Liu Guoqiang, a vice-governor of the PBOC, said at a press

亚博88娱乐场419论坛品茶微信conference last week that even under the new interest ra

te scheme, the rate for mortgage loans will not be lower, as the government will not ease the

real estate control policy nor “use real estate as a tool to stimulate short-term economic growth”.亚博88娱乐场419论坛

The new method to set mortgage loan rate is part of the market-driven reform of the cou

ntry’s overall interest rate system, which made a remarkable progress on Au亚博88娱乐场419论坛品茶微信

g 17. It decided to use the LPR, the price of loans banks offer to their best clients, as a new

reference for bank loans, instead of the existing one-year benchmark lending rate.

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hina has a number of 亚博88娱乐场419论坛ts toolbox to use ag

against the US government’s trade bullying moves, said Zhang J

ianping, a researcher at the Chinese Academy of International Trade and Economic Coope?亚博88娱乐场419论坛女神会所

ration of the Ministry of Commerce. Zhang spoke at a recent seminar in Beijing.

?亚博88娱乐场419论坛Jiang Yuechun, director of the World Economic and Development D

epartment of the China Institute of International Studies, said China “has cards in its han

ds” in both hardware and software areas, but it has been weighing their timing and necessity.?亚博88娱乐场419论坛

Jia Xiudong, a research fellow at the China Institute of International Studies, said despi

te headwinds, China can achieve high-quality development, and the fundamentals of the country’s eco

nomy are strong. “In the future, the resilience of the economy will be further released,” he said.?亚博88娱乐场419论坛女神会所

In response to the capricious US administration, China will maintain strategic strength, Jia said. The country will

?亚博88娱乐场419论坛make enhanced efforts to boost scientific and technological innovation no matter how the situation changes, he said.

Huawei Technologies Co said Friday that it would consider using RISC-V, an open-source chip architecture, if the US gove

rnment continues restricting its access to the latest technologies from the UK firm ARM Holdings for a long time.

Xu Zhijun, rotating chairman of Huawei, said in an interview in Shenzhen, Guangdong?亚博88娱乐场419论坛女神会所

province, that the company has already obtained the perpetual license to ARM’s V8 architecture technol

ogy, so the US government ban does not affect its current launch schedule of chips.

?亚博88娱乐场419论坛”If ARM’s new technologies are not available in the future, we can a

lso use RISC-V, an architecture which is?open to all companies. The challenge is not insurm

ountable,” Xu said.Huawei uses ARM’s architecture to design many of its chips for smartphones, servers and other applic

ations. But Washington banning Huawei from accessing any technologies originating in the US without special gove?亚博88娱乐场419论坛女神会所

rnment approval has restricted its ability to use ARM’s technologies. Though ARM is based in

the UK, some of its crucial technologies are developed in the US and it has to comply with the US ban.

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For some time亚博88娱乐场419论坛specially Kashgar, Hotan

, Aksu prefectures as well as Kizilsu Kirgiz autonomous prefecture in the south, relig

ious extremism has long had a widespread presence. These regions have frequently fallen victim to acts of te亚博88娱乐场419论坛女神会所

rrorism, in which large numbers of people were involved with even more having been

affected. The scale of the problem posed a serious challenge to China’s efforts to fight terrorism and extremism.

亚博88娱乐场419论坛Extremist forces spread by exploiting people’s religious beliefs through

Xinjiang’s large religious population through deliberate distortion of religious do

trines. They also incited people to overthrow secular governments and establish亚博88娱乐场419论坛女神会所

theocratic states. Social and economic development in the region has also suffered as a result, the white paper said.

Addressing both the symptoms and root causes by integrating preventative measures and a forceful response, Xinji

ang has established vocational education and training centers, which offer trainees lessons on standard spo亚博88娱乐场419论坛

ken and written Chinese, different laws and vocational skills in accordance with the law, it said.

The white paper said there was no intention to deprive or li

亚博88娱乐场419论坛mit the trainees’ right to use and develop the languages of their own ethnic group.

Education and training are not measures to limit or circumscribe freedom of the person as described by some. Rather, it is an

important measure to help trainees break free from ideas of terrorism and religious extremism.亚博88娱乐场419论坛女神会所

It is ultimately an attempt to help the trainees to emancipate their minds, improve themselves and th

eir future prospects, the white paper said.

亚博88娱乐场419论坛China will have to take necessary countermeasures in response to

the United States government’s proposal to slap an additional 10 percent tariff on $

300 billion worth of Chinese goods, the State Council’s Customs Tariff Commission said.亚博88娱乐场419论坛女神会所

Washington’s planned move seriously violates the consensuses reached betwe

en the two countries’ top leaders in previous meetings, and deviates from the right track of

resolving differences through consultations, the commission said in a statement on Thursday.

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Hong Kong radicals’ at亚博88娱乐场419论坛w signs of terrorism’

The Liaison Office of the Central People’s Government in the Hong Kong Special Administ

rative Region on Monday “strongly condemned” the violent acts by a small group of lawbreakers, after a polic亚博88娱乐场419论坛女神会所

e officer was injured by homemade petrol bombs thrown by radical protesters on Sunday night.

The condemnation came after many civic leaders also expressed concerns over the appalli

亚博88娱乐场419论坛ng acts by the radicals during multiple illegal protests at different locations of the city during the weekend.

During the violent clashes on Sunday, some rioters attacked the police stations wi

th highly fatal and destructive weapons, including launched petrol bombs.亚博88娱乐场419论坛女神会所

An on-duty police officer sustained burns on both legs after being hit by a petrol bomb in Tsim Sha Tsui.

“There is no place in the world that would tolerate such atrocious violent acts. Hong Ko亚博88娱乐场419论坛

ng will slide into an abyss, if such acts of terror were allowed,” the office said in a statement.

The most urgent, common aspiration of the public is to end violence and restore peace and order, the liaison office stressed.

亚博88娱乐场419论坛女神会所Thus, it called on the Hong Kong society to firmly support the SAR go

vernment and the police force to bring all violent lawbreakers to justice.

Hong Kong police have exercised restraint and professionalism w

hen handling the violent and illegal protests that be亚博88娱乐场419论坛gan in mid-June, the office said.

To date, a total of 12 police officers have been injured by laser beams poi

nted at them deliberately by radicals using laser pens, according to the department. So

亚博88娱乐场419论坛女神会所far, about 700 people have been arrested in relation to illegal protests since mid-June.

The office expressed sympathy to injured officers and extended gratitude to the police force and their families.

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n global commodity tr亚博88娱乐场419论坛ccelerating the renmin

renminbi internationalization, to reduce reliance on the dollar.Foreign

Ministry spokeswoman Hua Chunying on Saturday urged the United Kingdom to im亚博88娱乐场419论坛

mediately stop interfering in China’s internal affairs and stop making random and inflammatory accusations on Hong Kong.

“It is simply wrong for the British government to directly call Hong Kong’s Chief Executive to exert pressure,” Hua said in an online statement.亚博88娱乐场419论坛

Hong Kong today is a special administrative region of the People’s Republic o

f China, long gone are the days when it was under British colonial rule, the spokeswoman added.

Noting the UK has no sovereignty, jurisdiction or right of supervision over Hong Kong, Hua said that亚博88娱乐场419论坛女神会所

affairs of Hong Kong brook no foreign interference.

According to the Basic Law, the central government shal

l亚博88娱乐场419论坛 be responsible for the foreign affairs relating to the Hong Kong SAR, she added.

Echoing Chen’s view, Zhou Xiaochuan, chairman of the China Institute of Finance an

d former central bank governor, said at the CF40 forum on Saturday that China may have to take co亚博88娱乐场419论坛女神会所

untermeasures in face of any tariff or non-tariff barriers imposed against the country.

According to IMF’s press release on Friday, the IMF Executive Directors concur亚博88娱乐场419论坛

red that greater exchange rate flexibility and deeper and better functioning foreign exchange markets w

ould help China’s financial system be more capable of dealing with capital flow volatility.

亚博88娱乐场419论坛女神会所”At about US$3.2 trillion, China’s foreign currency reserves remain more than adeq

uate to allow a continued transition to a floating exchange rate,” the IMF report said.

Yu from the CASS agreed, and he suggested that the Chinese monetary authority c亚博88娱乐场419论坛女神会所

ontinue the foreign exchange reform, towards a more flexible and market-oriented regime.

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Zhang said it is a routine 亚博88娱乐场419论坛practice to organize such me

meetings to strengthen communication with different sectors of the H

ong Kong society and hear their views and opinions for better policy-making.

亚博88娱乐场419论坛女神会所The last time that such a symposium was held was in August 2014, before the illegal “Occupy Central” movement.

orn and raised in Hong Kong, Margaret Chan Fung Fu-chun, former director-general of WHO, sai

d she hardly recognized the city now because of the sustained violent attacks on the city’s rule of law.亚博88娱乐场419论坛

The success of Hong Kong, as a diverse international metropolis, relies on respecting different voices,

亚博88娱乐场419论坛and resolving the differences through dialogue, Chan s

aid, speaking after attending the morning session of the full-day symposium.

With her voice trembling, Chan said she loves Hong Kong, freedom and democracy.

However, she noted that in her approximately 25 years working as a civil servant under the亚博88娱乐场419论坛

colonial government, she had never seen so many people free to go on the streets to protest, a right that w

ould not have happened without the Basic Law and “one country, two systems”.

亚博88娱乐场419论坛女神会所She called on the public of Hong Kong to step forward to protect Hong Kong and say no to violence, as Hong Kong is in a dangerous situation now.

Ex-US Treasury head says department’s credibility ‘damaged’ by accusing China of manipulating yuan

Former US Treasury Secretary Lawrence Summers on Tu亚博88娱乐场419论坛

esday criticized the Trump administration’s decision to name China a currency manipulator, and said Tre

asury Secretary Steven Mnuchin has “damaged his credibility and that of his office” by doing so.

亚博88娱乐场419论坛女神会所In an op-ed article published in The Washington Post, Summers said:

“By labeling as Chinese currency manipulation an exchange-rate move that was obv

iously a natural response to his boss’s policies, the secretary has damaged his credibility and that of his office.

“It will be harder now in the next difficult financial moment for Treasury Departm

ent pronouncements to be credited by market participants. Having seen the Unite

d States label China a manipulator, the world will wonder whether and how the United States w

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The administration said 亚博88娱乐场419论坛s gold reserves increas

d to $87.27 billion by the end of June, up from $79.32 billion in January. China had the

亚博88娱乐场419论坛world’s sixth-largest gold reserves by the end of 2018 with a total of 1,852 metric tons.

“In 2019, the major task of foreign exchange management is to enhance mid-and long-term ass

亚博88娱乐场419论坛品茶微信et allocation and optimize and adjust investment strategies,” the administration’s report said.

The administration also for the first time disclosed the currency composition

of the country’s foreign exchange reserves in the annual report. The reserves denom亚博88娱乐场419论坛

inated by the US dollar accounted for 58 percent of the total by the end of 2014, down from 79 percent in 1995.

Among global foreign exchange reserves, US dollar-denominated assets m

亚博88娱乐场419论坛品茶微信ade up 65 percent of the total by 2014, up from 59 percent in 1995, according to the report.

“China’s forex reserve currency structure is diversified, even more diversified than the world’s average level,” Wang said. “It is in line

with requirements of China’s economic and trade development, as well as the demand of international payments.”亚博88娱乐场419论坛品茶微信

For China, most of the foreign exchange reserves, nearly 60 to 70 percent, are held as sovereign debt from

亚博88娱乐场419论坛advanced economies as well as financial and corporate bonds with high credit ratings, experts said.

“Forex reserves will continually play an important role in cushioning deprecia

tion pressure on the renminbi and maintain a balance of international payments,” said Zhao.亚博88娱乐场419论坛品茶微信

But it is quite unlikely for the People’s Bank of China, the central bank, to influenc

e the renminbi exchange rate through selling of foreign exchange reserves, even if t

亚博88娱乐场419论坛品茶微信he currency may be under depreciation pressure amid global monetary easing, he added.

As of the end of June, China’s foreign exchange reserves stood at $3.12 trillion, up from $3.10 trillion by May, according to central bank data.

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mbian President Ivan 亚博88娱乐场419论坛een during a press confer

At the invitation of Chinese President Xi Jinping, Colombian President Ivan Duque Marq

?亚博88娱乐场419论坛女神会所uez will pay a state visit to China from July 28 to 31, the Chinese Foreign Ministry said on Tuesday.

President Xi Jinping sent a congratulatory letter to the 7th Kubuqi International Desert F

orum, which opened Saturday in the city of Ordos in North China’s Inner Mongolia autonomous region.?亚博88娱乐场419论坛

Xi called for concerted efforts from the international community to en

?亚博88娱乐场419论坛女神会所hance international cooperation on combating desertification, promote global en

vironmental governance, and ensure full implementation of the 2030 Agenda for Sustainable Development.

China has placed great emphasis on building an ecological civilization and ma

de great headway in the prevention and control of desertification, Xi said in the letter.?亚博88娱乐场419论坛女神会所

Puerto Rico Governor Ricardo Rossello said on Wednesday that he’s resigning, eff

ective Aug 2, amid public anger over obscenity-laced online chats involving him and his aides.

?亚博88娱乐场419论坛Rossello, 40, is the first governor to resign in the modern history of Puerto Ric

o, a territory with 3.2 million US citizens that is still recovering from a catastrophic hurricane two years ago.

Protests broke out in Puerto Rico earlier this month after the leak of hundreds of pages of text ch女神会所ats on a messaging app in wh?亚博88娱乐场419论坛

ich Rossello and other male administration members made vulgar, sexist and inappropriate comments.

Duque’s visit will be the most important bilateral exchange between China and Colo

?亚博88娱乐场419论坛女神会所mbia this year. It also is the first meeting between the two heads of state after Duque took office.

Xi will hold a welcoming ceremony and a banquet for Duque, hold talks with Du

que, and jointly attend the signing ceremony for the cooperation documents.?亚博88娱乐场419论坛女神会所

The two countries are negotiating to sign a number of cooperation agreements in the fiel

ds of education, justice, agriculture, agricultural imports, e-commerce and finance.

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hina’s 1st domestically 亚博88娱乐场419论坛breaker berthed at

hina moved up three places to 14th among the world’s most innovative countries this year, acc

ording to a report by the World Intellectual Property Organization on Wednesday.亚博88娱乐场419论坛

The Global Innovation Index (GII) 2019 ranked 129 economies base

亚博88娱乐场419论坛d on 80 indicators, including traditional measurements such as research and de

velopment investments, international patent and trademark applications, as well

as newer indicators like mobile phone app creation and high-tech exports.亚博88娱乐场419论坛品茶微信

China remained in first place in quality of innovation am

亚博88娱乐场419论坛ong middle-income economies for the seventh consecutive year, acc

ording to the report, and achieved the top spot in patents, utility models, trademarks and industrial des

igns by origin, as well as high-technology and creative goods exports. The co亚博88娱乐场419论坛品茶微信

untry also ranked second only to the US in 18 of the top 100 science and technology clusters.

This year’s report named Switzerland as the world’s most innovative country, follow

亚博88娱乐场419论坛品茶微信ed by Sweden, the United States of America, the Netherlands and the United Kingdom.

The US, China and Germany had the most leading science and technology clusters, the report n

oted, while Shenzhen-Hong Kong and Beijing were among the global top five clusters.亚博88娱乐场419论坛

Over the past 40 years, China has built “a first-class intellectual property system and infrastruc

亚博88娱乐场419论坛品茶微信ture with repeated messages from the leadership of the importance of intellectu

al property”, said the WIPO Director-General Francis Gurry in a previous China Daily report.

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Hainan free to create 亚博88娱乐场419论坛foreign education ties

World-class overseas universities are welcome to run schools in cooperation with Chinese inst

itutions or establish independent educational services of their own in Hainan province on a pilot basis, acc?亚博88娱乐场419论坛女神会所

ording to a circular issued by the Ministry of Education and Hainan’s provincial government recently.

?亚博88娱乐场419论坛It said the country will target the tropical island for international education inn

ovation, deepen its educational reform in an all-around way and further open th

e sector to make Hainan a vivid example of open and innovative development of the educational sector.?亚博88娱乐场419论坛

Hainan, which is developing the country’s newest and largest free trade zone, will be a national pilot area where a ne

w, open system for running schools will be set up, in addition to a joint examination an

?亚博88娱乐场419论坛女神会所d approval mechanism for overseas joint ventures and cooperation projects, the circular said.

It added that as long as risks are controlled, the island province will be encouraged to set up international high scho

ols and kindergartens on a pilot basis to implement international education.

The document also noted that when conditions mature, overseas engineering universities an?亚博88娱乐场419论坛

d vocational colleges will be allowed to run pilot schools independently in Hainan, which will also explor

e allowing leading overseas business conglomerates to develop educational services on their own.

?亚博88娱乐场419论坛女神会所The new policy also gives a green light to overseas institutions to establish independent Sino-

foreign medical and health services in Hainan, according to the circular.

Furthermore, the pilot plan will encourage leading Chinese and foreign institutions of higher learning and scie

ntific research centers to develop a cluster of higher learning institutions and syne?亚博88娱乐场419论坛

rgetic platforms which will integrate production, teaching and scientific research in Hainan.

An education innovation consortium – which combines research branches, laboratories and incubation centers that focus?亚博88娱乐场419论坛女神会所

on such key areas as ocean economy, tropical agriculture, healthcare, tourism

and cultural innovation – will receive government support, according to the circular.

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