Finance Industry Opens Further

正Folowing last year’s easing of controls on foreign-owned shares in fi nancial institutions,Chinese authorities have forged ahead with the opening up of the country’s fi nance industry with measures to expand the scope of business and market access for foreign banks.On February 24,the China Banking Regulatory Commission(CBRC)published     

Risks of U.S. Listings by China’s Companies

CHINA is the only one of the world’s three largest economies in which a significant number of its most important companies are listed on share markets outside direct regulatory control of their home country’s main fi nancial administration.Almost all major U.S.companies are listed in the U.S.The same applies in Japan.But many Chinese companies are listed in Hong Kong,part of China but with     

Voices

Zhou Xiaochuan: China’s Financial System Is Improving Governor of the country’s central bank Zhou Xiaochuan says, “The Chi- nese nancial system is no longer what it was three or four years ago, and large banks have developed the strength to handle a more exible RMB.” Zhou points out that China should grasp the current“ optimal opportunity” to propel its pensions and medical system reform. He also suggests that China should con- tinue to make use of price mechanisms to encourage the…     

Propping Up Growth

正The central bank freed up more money with an RRR cut to aid the economy China’s central bank again lowered its reserve requirement ratio(RRR)to deleverage and alleviate fi nancing diffi culties for small and micro-sized enterprises.This is the third time this year that the central bank has done so to promote inclusive fi nance and allow banks to repay medium-term lending facility.On June 24,the People’s Bank of China(PBC)announced a cut to the RRR of com-     

World Economy on An Upward Trajectory?

<正>After years of languid growth,the global economy shows moderate recovery The world economy has been recovering since the first half of 2017,and has exhibited moderate growth after six years of slowing down.It is the first globally synchronized recovery for all areas and every major economy since the 2008 fi nancial crisis.However,the global economic environment is still highly uncertain due to the infl uence of Brexit negotiation,the Trump administration’s unpredictable policies and the U.S.Federal     

A Turning Point?

Russia’s new proposal on the Syrian crisis raises hope amid the uncertainty U.S.President Barack Obama’s embrace of the Russian suggestion to put Syrian chemical weapons under international control has brought a temporary sense of relief to the international community.The seemingly     

Rub of the Green

正Innovations in financing methods are supporting China’s ecological progress A boom in green fi nance has been the highlight of China’s financial sector in recent years,with the emergence of a variety of innovative credit products.However,China’s green fi nancial system still needs its incentives and regulatory frameworks improved.     

LETTERS

正It is an appropriate choice to create the BRICS New Development Bank,because it signifi es reorganization of the international economic and monetary system,which obviates over-dependence on the U.S.dollar.The new bank will consolidate the fi nancial independence of several states and stimulate the economic revival of many developing countries,especially in Africa.The BRICS nations command great force.I advise them to cooperate with the Community of Latin American and Caribbean States     

Power in Realism

正An unlikely blockbuster touches the heart of the Chinese audience Forty-five-year-old An Gang has seldom shed a tear while watching films,but China’s recent blockbuster Dying to Survive brought tears to his eyes on July 5.The fi lm is about a medication dealer who smuggles unlicensed leukemia medicine from India to provide for poor patients who cannot afford more expensive,offi cially licensed versions in China.The protagonist,Cheng Yong,fi rst became involved in the illegal trade to earn quick     

On Chinese Media

正EconomyNation Weekly Issue No.8,published on April 14,2014Railways Boost Urbanization Strategic thinking among China’s top leaders has been to advance urbanization through railway construction.But the fi nancial plight of China Railway Corporation,which is deep     

Managing Money Online

正Internet financial products have enjoyed huge success,but will they change the landscape of China’s financial sector?Wang Kang,27,works for a Beijing branch of the Industrial and Commercial Bank of China(ICBC),a major state-owned commercial bank in China and the largest bank     

International Reactions

正China Chinese State Councilor Yang Jiechi severely criticized Japanese Prime Minister Shinzo Abe’s visit to the Yasukuni Shrine,calling it a brazen affront to people of all countries that suffered from Japanese aggression and colonial rule.     

PEOPLE

正"Reading books gives you access to the knowledge and culture of the people of different countries.The main problem facing China and Turkey in the field of literature is the lack of translated books."Chinese writer and Nobel laureate Mo Yan,calling for more translated literature works at a news briefing in Istanbul on February 22     

NUMBERS

正58 Number of approval items that the State Council canceled or delegated to lowerlevel governments to streamline administration on November 24 $2.3 blnvalue of agreements signed between businesses from Singapore and east China’s Zhejiang Province at the 10th SingaporeZhejiang Economic and Trade Council meeting held in Singapore on November 24 4% Decrease in business revenues in China’s telecom sector in October     

WORLD

正~~     

A White-Hot Battle

正Backing a price war between cab-booking apps serves the larger ambition of China’s Internet companies Han Yonghui is a cabbie in Beijing.After a taxi fare increase in 2013,he makes roughly 5,000 yuan($823)a month,just about enough to feed his family.Recently,Han started using cab-hailing mobile software to pick up customers who order taxis via smartphone.Benefiting from an increasingly fierce competition of rewards between two of the most popular apps for this purpose,he can receive up to 2,250 yuan($370)     

ThePolitical TricksofAbe

正Japan’s leader hopes to salvage his power by way of an early election Japanese Prime Minister Shinzo Abe dissolved the House of Representatives,or the lower house in the country’s bicameral parliament,on November 21.A consequent snap election will be held on December 14,two years ahead of schedule.In recent months,the Japanese economy has continued to slide and entered a technical     

Mid-Term Misfortune

正Barack obama strives for a sound legacy Predictably,the U.S.Republican Party(GOP)took back the Senate after eight years in a landslide victory during the mid-term congressional election in November.While the GOP is still in control of the House of Representatives,it also gained ground in state governor elections in Illinois,Maryland,Iowa and Colorado—the traditional spheres of influence of the Democrats.     

Chinese Machinery Maker Explores overseas Market

正The 15th Russia International Show of Construction Equipment and Technologies(CTT)was held in Moscow from June 3 to 7.Liuzhou OvM Machinery Co.Ltd.attended the exhibition with its prestressed products."At the moment,infrastructure construction such as housing,elec-tric power and railway is continuing to expand in Russia,and given that the country’s import of machinery     

Doing Justice To the Past

正China has declared Japanese Prime Minister Shinzo Abe an unwelcome visitor following his recent visit to the controversial Yasukuni Shrine.When asked whether Chinese leaders would listen to his explanations for the shrine visit in person,a Foreign Ministry spokesman ruled out the possibility by saying that Abe has"shut the door"on dialogue.China is not alone.The U.S.State Department also expressed disappointment at Abe’s visit