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ing gap between increased spending and the slower expansion of income, some local governments, especially at the co
unty level, are facing fiscal pressure. But the central government will transfer more funds to local go?乐动体育,乐动体育登录龙凤1314女神会所
vernments to ensure stable fiscal spending and further implement tax and fee cuts, the ministry said.
?乐动体育,乐动体育登录龙凤1314By the end of July, local governments had issued 2.55 trillion yuan in new b
onds for the year, accounting for 82.8 percent of the annual quota of 3.08 trillion yuan.
A quota of 2.15 trillion yuan for local governments’ special bonds－mainly meant to s?乐动体育,乐动体育登录龙凤1314
upport infrastructure projects－had been 65 percent used up by the end of July, the Ministry of Finance said.
Market speculation is that there will be additional bond quota space to bolster fiscal spending in coming months. But a seni?乐动体育,乐动体育登录龙凤1314女神会所
or official at the Financial Department of the Ministry of Finance said in an interview this week: “It is unlik
?乐动体育,乐动体育登录龙凤1314ely that the government will raise the quota for local government bonds, or for the special bonds.”
Local government special bonds are seen as an important measur
e to support infrastructure investment, and they also are not included in local?乐动体育,乐动体育登录龙凤1314
budgeted debt. The annual quota was set by the Government Work Report in March.
About 1.55 trillion yuan in local government special bonds had been iss?乐动体育,乐动体育登录龙凤1314女神会所
ued in the first half, the Ministry of Finance said. The remaining 600 billion yuan
issuance must be finished by September－a State Council requirement to speed financing for key projects.
China should have an expansionary and much stronger fiscal policy in order to inc?乐动体育,乐动体育登录龙凤1314
rease public spending and prevent a further slowing of economic growth, said Yu Yo
ngding, a senior economist at the Chinese Academy of Social Sciences. Yu spoke at a recent forum.
The fiscal deficit ratio, which may surpass the government target of 2.8 per?乐动体育,乐动体育登录龙凤1314女神会所
cent of GDP this year, should be compensated by issuing more central government
bonds, said Yu, who also suggested the central bank lower interest rates for the bond issuance.
nitiative is a challenge, but achievable,” she said, adding that at the heart of this challenge lies great potenti
al for innovation and creativity, such as new disaster risk prediction and analysis, and disaster-resilient infrastructures.
Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said dis
aster risk reduction of natural hazards along the initiative is crucial for its success and sustainability.
Regions at the heart of the initiative, such as the Tianshan-Pamir Platea
u, the Himalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serio
us disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.
Henrik Slotte, a senior disaster management expert from the UN Environm
ent Program, said poorly managed infrastructure projects can damage the ecosystem.
more than 100 projectors were installed to digitally recreate mangrove fo
rests and the environment surrounding them: tropical seas, tides and beaches.
With sound, light and electrical effects, the exhibition shows how mangroves, one of the very few vegetation env
ironments that can survive in coastal waters, thrive in the tides and change their surroundings for the better.
Tianjin resident Li Lingyan, who visited the park on Monday, was fascinated by the mangrove exhibition.
“Looking at the exhibit, it is as though I was brought to the seashore to se
e how mangroves grow in a tough environment. It was an amazing process,” she said.
” I was totally thrilled, and I got to learn a lot about mangroves.”
Near Gate No 5 of the park, “a forest of lights and shadows” draws crowds.
China and the European Union have committed to achieving major progress this year in negotiations for a high-level bilateral in
vestment agreement with a view to concluding the ambitious accord next year, according to a joint statement.
The two sides pledged to widen market access, eliminate discriminatory requireme
nts for foreign investors and establish a balanced investment protection framework, according to a joint statem
ent issued after the China-EU leaders’ meeting held in Brussels, Belgium, on Tuesday.
Premier Li Keqiang, European Council President Donald Tusk and Eur
opean Commission President Jean-Claude Juncker co-chaired the annual meeting and reach
ed consensus on a wide range of issues, including bilateral ties, global challenges and governance.
They committed to building an economic relationship based on openness, nondiscrim
ination and fair competition, ensuring a level playing field, transparency and mutual benefit, the statement added.
Two-way trade between the EU and China reached more than $682 billion last year. The E
U is China’s biggest trading partner, and China is the EU’s second-largest trading partner.
?aspects,” he said, adding that besides a growth rate withi
n a reasonable range, the economy is likely to register accelerated prog
ress toward higher-quality development this year amid a new round of reform and opening-up.
“Structural opportunities (in the capital market) may con
tinuously emerge from the development of the new economy and mass co
nsumption upgrades, fueling the long-term inflow of international capital,” he said.
IMF Managing Director Christine Lagarde sai
in a recent interview with China Central Television that China’s economic d
evelopment now allows for “a focus on quality growth”, rather than necessarily quantity growth.
“And China’s development is clearly at the stage whe
re it can afford and should afford to do that,” Lagarde said.
Over the past year, amid the escalation of US-China trade tensions, credit tighten
ing took place in China, macroeconomic stress was seen in Argentina a