Top regulator says economy set for growthand

Transformation of traditional industries speeding up, riding wave of high tech

The Chinese economy is poised for more vigorous growth after gathering new strength through upgrad

es in traditional industries and accelerating the growth of high-tech industries and emerging sectors.

The country will further expand market access with a nationally unified, annually released and timely adjusted negative list for m

ore market vitality, according to the National Development and Reform Commission, China’s top economic regulator.

Meng Wei, spokeswoman of the commission, said at a media conference on Fri

day that China has made steady progress in cultivating new momentum and promoting t

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Govt should accelerate tax cuts to invigorate economy, pre

Premier Li Keqiang urged government departments to speed up the implement

ation of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturing, constructio

n and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measures in t

he past months, after the measures were introduced by Li in the Government Work Report in March. Th

ey also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision

made by the Communist Party of China Central Committee and the State Council. It has boosted

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He underlined the importance of properly mitigating

various social conflicts, and said efforts must be made to address legitimate and lawful concerns to safeguard public int

erests, and also guide the public in voicing their concerns in a law-based manner to maintain social order.

Strong pressure must be maintained to crack down on crimes such as organized gang activity, violent and terroristic cri

mes, as well as those related to fraud, robbery, food and drug safety, and environmental protection, Xi said.

Calling social fairness and justice a lifeline for judicial and law enforcement work, Xi called for improving the mec

hanism of the use of power in law enforcement as well as the supervision over such powers.

Efforts should be made to help the public feel fairness and justice in every case, Xi said.

He also urged public security staff to improve their work so that human rights can be guarant

eed while crime is fought, and fairness can be ensured while efficiency of law enforcement is pursued.

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teps aimed at helping further develop countryside opt

hina will undertake key measures to further integrate the country’s rural and urban areas

and encourage the transfer and free flow of people and resources throughout the nation.

Measures include relaxing hukou (household registration) barri

ers, reforming zoning regulations for rural and residential land, marketing collective land

in rural areas for development purposes and increasing infrastructure spending in the countryside.

Experts said the new plan, announced by the Communist Party of China Ce

ntral Committee and the State Council late on Sunday, is aimed at helping realize steady progr

ess in rural revitalization, driving up the process of urbanization and further boosting the economy.

China has a three-step plan. First, it will initially build a framework an

d mechanism for integrated development of urban and rural areas, and gradually rem

ove limits on hukou registration in cities by 2022. Second, it will bring about an improved framewo

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hina will provide proposals for World Trade Organ

ization reforms and enhance communication with member countries and regions to deal with trade issues. That will stre

ngthen the WTO and jointly maintain free trade and the multilateral trade system, he said.a

Beijing International Horticultural Exhibition welcomed its first tourist peak by serv

ing more than 320,000 tourists during the four-day May Day holiday, the organizer said Saturday.

Lei Lei, an official with the organizing committee, said the Chinese Pavilion, the Inte

rnational Pavilion, the Life Experience Pavilion, the Botany Pavilion and the Gui

Some 132 activities, including float parades, world ethnic and folk cultural perform

ances, and culture and art carnivals staged by central and eastern European countries, were held during the holiday.

With the theme of “Live Green, Live Better,” the expo opened to the public on M

onday at the foot of the Great Wall in the capital’s Yanqing District and will last until Oct 7.

rui Theater were among the most popular destinations, which h

ave received a total of over 734,000 visitors during the holiday.

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Top economic planner bullish on reaching annual growth

China’s economy, despite headwinds, has enjoyed a good start in the first quarter of 2019, and the country has the confide

nce to achieve the annual projected growth goal, said the country’s top economic planner.

“The first quarter’s stable economic development has laid a solid foundation for the an

nual growth,” said Yuan Da, spokesperson with the National Development and Reform Commission.

“The economy has stayed on the track of steady growth. We have the confidence, conditio

ns and capability to meet the projected targets for economic and social development this year.”

Yuan made the remarks at the NDRC press conference on Thursday in Beijing.

According to data from the National Bureau of Statistics, China’s economy expanded at a faster-than-expected 6.4 perce

nt year-on-year in the first quarter. The growth was unchanged from that in the fourth quarter in 2018.

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The bond pricing mechanism will be further improv

Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds

at commercial bank counters to individual buyers between March 22 and early April.

The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b

onds issued by the central government as well as bank deposits with the same maturity.

Gross local bond issuances hit 1.18 trillion yuan in the first qua

rter, compared with only 219.5 billion yuan in the same period last year.

The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.

“About 60 percent of the bonds were issued for ongoing construction, especially

for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.

While debt financing continues to grow, the government is experiencing sharp declin

es in fiscal revenue growth, especially from tax and land sales, official data showed.

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Make homeland greenering country’s nats goals for im

President outlines goals for improving, protecting country’s natural heritage

President Xi Jinping has called for mobilization at the national level and joint particip

ation from the whole of society to move forward with large-scale campaigns to make the homeland greener.

Xi, also general secretary of the Communist Party of China Central Commit

tee, made the remark as he took part in a voluntary tree planting event in Beijing on Monday.

Working alongside students, Xi shoveled soil and emptied water buckets

before planting seven trees in a forest park in the capital’s Tongzhou district.

He underscored the importance of giving play to China’s honored tradition of loving, pla

nting and protecting trees to ensure that national forestation programs yield concrete results continuously.

He noted that this year marks the 40th anniversary of China’s creation of the tree planting festival on March 12 each year. Over

the past 40 years, China’s forest coverage and its net volume of timber have doubled, he said, adding that Chin

a has made the largest contribution to the world’s increase in the area of vegetation in recent times.

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Xi urges civil affairs authorities to better fulfill duties

Chinese President Xi Jinping has urged civil affairs authorities to focus on poverty alleviation, special groups and issues of public concern to better fulfill their duties.

Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commis

sion, made the statement in an instruction read at a national civil affairs conference held in Beijing Tuesday.

Editor’s Note: While Boeing struggles with the crisis following the crash of two 737 Max aircraft in

less than half a year, European aerospace heavyweight Airbus inked a record deal during President Xi Jinpin

g’s recent visit to France to sell 300 aircraft to China. Will Boeing‘s struggles prove to be a boon for Chinese airplane manu

facturers, as some media outlets claim? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts follow:

A very long way to go for China

Ning Zhenbo, lead consultant for the Center of Information Technology, Aviation Industry Corporation of China, Ltd.

Boeing’s loss does not mean Chinese aircraft manufacturers’ gain, simply because China la

gs far behind the West in the aerospace industry. The fierce competition between Boeing and Airbus, the t

wo aerospace heavyweights, will not have any impact, positive or negative, on China because it is not a player in the field.

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hina boosts measures to open economyivers the keyn

China will further open up to foreign investors and offer them treatment equal to that of domestic companies with firm prote

ction of their legitimate rights, Premier Li Keqiang said at the Boao Forum for Asia on Thursday.

The country will fully adopt pre-entry national treatment and negative lists for overseas

investment, Li said at the opening ceremony of the forum’s annual conference in Hainan province.

By the end of June, China will release the amended negative lists for foreign investment ac

cess, he said. “The negative lists will only be shortened. … We will ensure fair competition and common deve

lopment for Chinese and foreign companies with fair supervision,” Li told more than 2,000 participants.

A negative list shows areas where investment is prohibited; all other areas are presumed to be open.

The government has started formulating matching regulations and rules to supp

ort implementation of the Foreign Investment Law, adopted two weeks ago, Li s

aid, adding that supporting regulations will take effect along with the law on Jan 1.

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