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Chinese officials and experts have urged politicians in the United States to stop using the situat
ion in Hong Kong as a bargaining chip for negotiations or as leverage for fueling competition with Beijing.上海乌托邦品茶微信
Senior politicians such as US Vice-President Mike Pence and House Speaker Nancy Pel
osi have spoken out on or pushed legislation concerning the recent violent protests in the city.上海乌托邦品茶微信
Pence angered China on Monday by telling the Detroit Economic Club that “for the Un
ited States to make a deal with China”, Beijing needs to “respect the integrity of Hong Kong’s laws”.
上海乌托邦”Our administration will continue to urge Beijing to act in a humanitarian manner,” Pence added.
In response, the Foreign Ministry’s Commissioner’s Office in the Hong Kong Special A
dministrative Region said on Tuesday that China resolutely opposes any country attempting to “take Hong Kong’s s上海乌托邦
tability and prosperity as well as the well-being of more than 7 million Hong Kong residents as a bargaining chip”.
“Do not daydream about China making a deal using its territorial sovereignty and national reunification,” an unnamed spokesperson上海乌托邦品茶微信
said in a statement, calling for a halt to intervention in China’s domestic affairs, including Hong Kong affairs.
On Aug 6, Pelosi said in a written statement that “the extraordinary outpourin
上海乌托邦品茶微信g of courage from the people of Hong Kong stands in stark contrast to a cowardly government”, and she reite
rated her call for suspending “future sales of munitions and crowd control equipment to the Hong Kong police force”.
Average, Nasdaq Composite and S&P 500 – closed up more than 1 percent each Tuesday.
上海乌托邦After Monday’s selloff, the biggest of the year, Tuesday’s rebound of 312 points put the Dow at 26,023.
On Monday, the Dow lost 767.27 points, or 2.9 percent, after US President Donald Trump called China a currency manipulator.
“There is more uncertainty in the global environment,” Usha Haley, the W. Frank Barton Distinguished Chair in In上海乌托邦
ternational Business and a professor of management at Wichita State University, told China Daily. “It does not contribute t
上海乌托邦女神会所o planning or investment in the global economy and doesn’t beneﬁt China or the US. We’re in uncharted territory.”
“Most investors and traders do not find meaningful the designation of currency manipulator and most belie
ve it is unlikely to foster successful negotiations,” Andrew Karolyi, a finance professor at Cornell University, told Ch上海乌托邦
ina Daily. “Fluctuations in the yuan continue to reﬂect market supply and demand pressures and have for several y
ears. I would not rule out a US-China trade deal before the end of 2019 or early 2020. There are incentives in both co
上海乌托邦女神会所untries to stabilize trade flows and ease the burden of trade policy uncertainty.”
But Trump may be able to use the currency-manipulation charge to his advantage, one expert said.
“Unfortunately, the declaration that China is a currency manipulator can be used by the pr上海乌托邦女神会所
esident as a reason to take further unilateral actions against China,” Steve Charles Kyle, an economics pr
ofessor at Cornell University, told China Daily. “It is clearly bad news for both the USA and China. The USA will see highe
上海乌托邦r prices as tariffs take effect, and China will see fewer exports as the US buys less and also as production moves elsewhere.”
With equity markets roiled and supply chains disrupted, Goldman Sachs now ex
pects the Fed to cut interest rates by at least a quarter- point i女神会所n September and October.上海乌托邦
Trump has frequently called for more cuts in the federal funds rate, which has a target of 2-2.25 percent.
If inﬂation is close to the Fed’s 2 percent target in December, Goldman Sachs believes rate cuts will stop.
capital flows and realize the free flow of goods, according to the plan.
上海乌托邦The area will be built into a special economic function zone with global influ
ence and competitiveness, to better serve the country’s overall opening-up strategy, it says.
上海乌托邦By 2025, the Lingang area will have a relatively mature institutional system of investment and trade liberalization and faci
litation. By 2035, it will be built into a special economic function zone with strong global market influence and co
mpetitiveness, becoming an important platform for the country to integrate into economic globalization.上海乌托邦
The addition of the Lingang area is a major strategic decision made by the Communist Party of China Central Co
mmittee to further opening up, Vice Commerce Minister Wang Shouwen told a press conference Tuesday.上海乌托邦品茶微信
It also demonstrates China’s clear stand to adhere to all-round opening up in the new era an
d an important measure taken to actively lead the healty development of economic globalization, Wang said.
上海乌托邦An institutional system with “investment and trade liberalization at its core” will be established in the area, Wang said.
It will be supported in promoting investment and trade liberalization and facilit
ation, including free flow of investment, trade, capital, transportation and employment, the plan says.上海乌托邦品茶微信
According to the plan, a tax system and policy with international competitiveness will be implemented in the area.
Income tax shall be levied at a reduced rate of 15 percent within five years fro
m establishment for qualified enterprises engaged in manufacturing and R&D in ke上海乌托邦
y fields including integrated circuits, artificial intelligence, biomedicine and civil aviation, says the plan.
China will study and implement subsidy policies for the balance of personal i
ncome tax on overseas talents, and explore tax policy arrangements for pilot fr上海乌托邦品茶微信
ee trade accounts under the prerequisite that they do not lead to tax base erosion and profit shifting, it says.
The area will improve risk prevention and safety supervision and s
et up an open industrial system with global competitiveness, according to the plan.
ng police in strict law enforcement, and stands by HKSAR government agencies and judici
上海乌托邦ary bodies in handing out punishment to violent criminals according to law, he said.
Yang also said that the principle of “one country, two systems” is the best institu
上海乌托邦品茶微信ional arrangement for maintaining long-term prosperity and stability in the SAR.
The Democratic Alliance for the Betterment and Progress of Hong Kong — the largest
political party in the Legislative Council — welcomed the Hong Kong and Macao Affairs Office’s remarks. 上海乌托邦
Holding this news conference showed the importance the affairs office attaches to the HKSAR, as well as support for the S
上海乌托邦AR government and the police force, said the party’s Chairwoman Starry Lee Wai-king.
The central government’s expectations are in line with those of most Hong Kong people, Lee said.
The HKSAR government on Monday strongly denounced escalated and repeate
上海乌托邦品茶微信d violence by protesters and vowed to give full support to police to strictly enforce the law.
For the first time in the 29-year history of the Fortune Global 500 list, Chinese companies (129) outnumber those from t
he United States (121). This is also the first time that a country other than the US has more companies on the list. 上海乌托邦
Among the 129 Chinese enterprises on the list, 119 are domestic in nature
whose average revenue increased 9.2 percent year-on-year－higher than the average
上海乌托邦品茶微信revenue growth of Fortune Global 500 companies. These enterprises’ rates of profit and net asset profit were 5.3 pe
rcent and 9.9 percent, up 0.2 percentage points and 1.0 percentage point year-on-year.
The Chinese enterprises have also taken firm steps toward high-quality development. And although they have enc 上海乌托邦品茶微信
ountered some difficulties due to the Sino-US trade frictions and the technological containment measures t
上海乌托邦aken by the US government and some US enterprises, their growth has continued unabated.
Three major factors are behind the Chinese enterprises’ continuous and rapid development: reform, demand and innovation. China’s supply-side str 上海乌托邦品茶微信
uctural reform has improved the market competition environment, promoted qualitative supply, increased t
he enterprises’ earning power, and enhanced their development potential and momentum.
The white paper gave outer space and cyberspace the same weight as the nucl
ear force in China’s national security, calling them “the major security fields”.上海乌托邦
With its goal of developing outer space for peaceful pur
上海乌托邦品茶微信poses, China actively took part in international cooperation in outer space, it said.
It listed cyberspace security as a “key area for national security, economic growth
and social development” and said China is facing severe security threats from cyberspace.上海乌托邦
Boris Johnson has won the United Kingdom’s leadership election 92,153 vo
tes to 46,656, becoming prime minister and leader of the ruling Conservative Party.上海乌托邦品茶微信
Johnson had been widely expected to win ever since Theresa May, the nation’s outgoing prime minister, announced on May 24
that she was resigning following heavy criticism of her handling of the UK’s exit from the European Union.
上海乌托邦In a short but impassioned acceptance spee
ch, Johnson thanked his leadership opponent Jeremy Hunt and May. He said that the p
arty will “deliver Brexit, reunite the country and defeat” the leader of the opposition Labour Party Jeremy Corbyn.
“That’s what we are going to do,” Johnson sai上海乌托邦品茶微信
d. “We know that we can do it, the people in our country know that we can do it, and I know that we will do it.”
Johnson and Hunt were the last people standing in the leadership battle that had initially involv
上海乌托邦ed 10 hopefuls and was ultimately decided in a postal vote open to the party’s 160,000 members.
Johnson takes over as party leader immediately and will be sworn in as prime minister on Wednesday.
He was an outspoken critic of May and says he will take the UK out of the EU on Oct 31, with or without a deal with the political bloc.上海乌托邦品茶微信
Following the result, May congratulated Johnson and said he will have her “full support from the back benches”.
“Many congratulations to Boris Johnson on being elected leader of the Conservatives－we now need to work togethe上海乌托邦品茶微信
r to deliver a Brexit that works for the whole UK and to keep Jeremy Corbyn out of government,” she wrote on Twitter.
Brexit Party leader Nigel Farage wrote on social media: “I wish Boris Johnson well as Prime Minis
ter with his do or die pledge to deliver Brexit on Oct 31. Does he have the courage to deliver?”
said another cut in the reserve requirement ratio — which wi
上海乌托邦ll reduce funds banks keep in vaults and boost lending — may be conducted later this year.
“As the United States Federal Reserve will probably gradually cut interest r
ates and domestic inflationary pressure may ease, China’s monetary policy options are exp上海乌托邦品茶微信
ected to further broaden,” said Cheng Shi, chief economist of ICBC International.
上海乌托邦To support financial reforms, the People’s Bank of China — the cent
ral bank — may refrain from broad-based easing but adopt more structural tools in the
coming months, such as targeted reserve cuts to boost lending to small businesses, Cheng said.上海乌托邦品茶微信
On the fiscal side, policies facilitating debt financing of infrastructure projects may be stepped up, he added.
The country has set a 2.15-trillion-yuan ($312.4 billion) spe
cial local government bond issuance quota to help finance infrastructure projects.
Iris Pang, director of ING in China, said policymakers may even
上海乌托邦roughly double the fiscal stimulus for infrastructure projects to 4 trillion yuan.
This will offset the expected reduction in exports and related supply-chain reloc上海乌托邦
ation activities, securing the GDP growth rate for the second half at 6.3 percent.
JPMorgan’s Zhu said the economy may slow a bit in the second half but ma
nage to grow by 6.2 percent for the full year, as increased infrastructure investment and stab上海乌托邦
le consumption will counter the drag from exports and manufacturing investment.
Xue Yi, a finance professor at the University of International Business and Economics in Beijing
, said the debut of the Nasdaq-style tech-heavy STAR Market will also lend support to the economy.
On Monday, the first 25 companies are due to debut on the Shanghai Stock Exchange’s STAR Market.上海乌托邦
“In the second half, the much-anticipated new board is expected to raise public interest i
n the whole capital market and usher in more funds, thus reducing financing costs for listed firms,” Xue
said, adding that much more of the new board’s boost to the economy will unfold in the long run.