China has to walk a fine balance between local govern

nment debt management and stable economic growth, especially at a time when trade te

nsions with the United States have imposed more downward pressure, said economists.

More financial resources and investors will be involved in the debt resolution process, said Qiao Baoyun, head of the Acad

emy of Public Finance and Public Policy at the Central University of Finance and Economics.

The last round of local government debt swaps started in 2015 and ended in August 2018, w

hich saw 14.34 trillion yuan ($2.08 trillion) of local government debt being swapped into bonds.

Local governments are set to face more debt burden in the next three ye

ars, as many of the previously issued bonds are set to expire, income from land sales has

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Perhaps most notably, the growth rate of women workers wa

s higher than men in new media operators and data analysts among the five professions, illustrating that burgeoning career opportunities and skill requ

irements are presenting an unprecedented advantage for women. That’s a change from the past, when women

normally had more household duties, especially in the era of universal two-child policy, he said.

Lu also said that the number of people engaged in human-centered job positions was growing faster than other rules.

“It implied that jobs requiring insights into people’s preferences and habits, such a

s marketing and human resources, are irreplaceable by machine intelligence so far,” Lu said.

A survey jointly conducted by research firm Trustdata and LinkedIn in April found career starters w

ere establishing their career goals earlier than past generations, exhibiting a stronger self-driven momentum.

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Trade agreements can affect the types of goods being

traded and they can redirect trade toward one country, away

from others. They cannot directly affect any country’s worldwide current account balance. A count

ry that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gove

rnment system to encourage increased savings. China has almost nothing to do with it.

Ironically, the disputes between the US and China center around both nations’ legitimate desires to

protect some current low-skilled jobs, or at least to allow an easier transition to new jobs and industries.

US administration’s economic policy has rightly focused on the need to

retain jobs for working-class people in the US. And, China’s companies that export to the U

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The traditional family model of the man bringing hom

the bacon and the woman looking after the family doesn’t seem to have changed much eve

n today. As a result, Chinese mothers still shoulder most of the responsibilities of raising kids.

In the absence of fathers, mothers are more likely to pay greater attention to their kids and their

education. This could not only prevent the children from learning life skills, but also make them bur

dens for their mothers. And the greater the burden they become, the more their mothers would be stressed out.

Yet such anxiety could be easily shared by, if not transferred to, other family members. A highly emotional yet anxious moth

er is more likely to make a wrong decision about her child’s education, which in turn could have a negative imp

act not only on the child’s healthy growth but also the health of the mother and the husband-wife relationship.

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Opening up of film market leads to vibrancy

the 22nd film of Marvel Cinematic Universe, has made more than $2 billion globally wit

h over $576 million, nearly a third of the total, being contributed by the Chinese market.

The percentage of Hollywood films contributing to China’s box office has witnessed a gradual decline in recent years

thanks to the rise of successful Chinese films including The Wandering Earth and Dying to Survive.

Due to its explosive growth in third-and fourth-tier cities, the Chinese movie market is certainly poised to become the larg

est in the world in the not too distant future. Last year, China’s total box office exceeded 60 billion yuan ($8.9 billion), gra

dually closing the gap with the United States whose box office was about $11.6 billion. China has become such a form

idable force in the global film industry that international film producers cannot afford to overlook it.

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In the years since, the country has continued to maint

tain a breakneck pace of economic development, which has brought booming economic prosperity.

Unfortunately, it has also brought a deteriorating environment. Seeing heavy smog, for ex

ample, many people feel that a worsening environment will destroy the happiness brought by economic growth.

Since 2012, the new leadership under President Xi Jinping has put forward a series of ecol

ogical ideas. On Sunday, Xi said at the opening ceremony of the exhibition that “green mountains and cle

ar waters are indeed mountains of gold and silver, and environmental improvement means great productivity”.

This idea, dubbed the theory of two mountains, enjoys immense popular support in China.

Xi, who is also general secretary of the Central Committee of the Communist Party o

f China, urged officials at all levels never to sacrifice the environment for economic growth.

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NPC reviews Securities Law amendmentdamental law governin

Country may soon adopt revision to pave way for capital market reform

The top legislature deliberated on the draft revision of the Securities Law over the weeke

nd, signaling China may soon adopt the revision to pave the way for key capital market reforms, experts said.

On Saturday, the draft revision was submitted to a bimonthly s

ession of the Standing Committee of the National People’s Congress for a third reading, Xinh

ua News Agency reported. The session began on Saturday and continues through Tuesday.

Revision of the fundamental law governing the capital market h

as lasted for six years, with 2015 and 2017 having seen readings of two draft versions.

“The latest draft version is of great importance because it will provide legal grounds for the registration-based initial pub

lic offering system-a key reform that China’s capital market has been awaiting for years,” said Dong Dengxin, director of th

e Finance and Securities Institute at Wuhan University of Science and Technology.

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Instead of solely emphasizing high yields, the Green Su

 Super Rice project is geared to guarantee stable yields while beefing up crops’ resistance against drought, flooding and diseases,” Li said.

“Thus, farmers are able to save a large amount of resources, such as fertilizers or irrigation water, to fight those issues,” he added.

The sustainability of the approach is welcomed by Philippine agricultural researchers and farmers, according to Jose

Yorobe, a consultant with the International Rice Research Institute in the Philippines. He attended a meeting in Beij

ing on Tuesday, along with dozens of representatives from participant countries, that marked the project’s conclusion.

“Because of climate change and population growth, developing countries are now pressured to increase rice prod

uctivity,” he said. “Some high-yield modern varieties are still vulnerable to inclement weather, pests and disease.”

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The Belt and Road Initiative is set to promote cooper

globally — not for China only, Asian Infrastructure Investment Bank President Jin Liqun said on Wednesday.

Jin made the remarks in response to questions over whether the BRI only involves C

hinese projects prior to the Boao Forum for Asia, which will officially begin on Thursday.

“It was a misunderstanding,” Jin said, adding any country or investor can do a BRI project

anywhere, so long as it promotes global and regional economic cooperation, peace and development.

“The so called ‘China strategy’ is simply to promote global cooperation,” he added.

Joint efforts essential to fight global warming: China Daily editorial

Record low temperatures in winter and record high temperatures in summer in many parts of the

world year after year and more frequent natural disasters caused by extreme weather events prov

ide strong evidence that global warming is not just an alarmist theory as some claim.

Yet striking a balance between the effective control of human activities that are contr

ibuting to climate change and economic growth is proving a hard nut for countries to crack.

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According to the Ministry of Commerce, as of the end of N

ovember 2018, France had invested in 5,647 projects in China, with actual investment value amounting to $17.49 billion.

“There are no official rules for French enterprises to succeed in C

hina. The main rule is to respect the Chinese people,” said Raffarin.

Well-known by many Chinese people as a “good friend” of China,

the 70-year-old said he has visited China more than 100 times since his first trip in 1970.

Residents in Chinese mainland will be able to apply for passpo

rts and travel permits at every exit and entry management department across the coun

try starting from April 1, according to National Immigration Administration on Tuesday.

The travel permits refer to the documents allowing mainland residents to travel to and from Hong Kong, Macao and Taiwan, it said.

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