tal transformation”, there is already a victory sign coming fro

The country generated about 7.6ZB data last year, around 0.7ZB more than the US, the report said.

In addition, it said data created and replicated in China is expected to outpace the global average by 3 percent annually.

Chinese tech companies, such as Alibaba Group and Tencent Holdings Ltd, h

ave set an example in using data to improve customer service in the financial sector.

The report said Chinese digital payment platforms Alipay and WeChat Pay are able to provide personalize

d financial services tailored to customers’ specific behaviors and preferences with the help of massive user data.

The report also mentioned the use of personal information has raised concerns as data may be utilized to build beh

aving or responding models of users that can be taken advantage of by advertisers or for other purposes.

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hina has seen 4.8 percent yearly growth in foreign dire

rect investment in January, and its high-tech service industry has seen the most dramatic increase in the use of foreign capital.

According to Ministry of Commerce data released Thursday, the country has attracted 84.18 bil

lion yuan ($12.41 billion) in FDI in the first month of 2019, up 4.8 percent year-on-year.

Foreign capital flowing to the country’s high-tech service sector in January has mo

re than doubled compared to the same period in 2018, reaching 15.77 billion yuan.

The total FDI used in the manufacturing industry has also climbed by 5 percent y

ear-on-year, totaling 26.7 billion yuan. The service sector has used 56.2 billion yu

an in FDI, up 5.1 percent, and the high-tech industry has seen a 40.9 percent yearly growth of FDI used.

FDI from the United States has seen a staggering 124.6 percent year-on-year growth.

ax142.cn

Demographic data on births, deaths and population mov

ements may appear boring, but they matter a lot. They are important to understanding how humans function as individuals and as members of society.

China’s development is now more focused on the quality of economic growth, including

spreading its benefits to all citizens irrespective of their life circumstances. This emphasis aligns well wi

th the 2030 Sustainable Development Agenda of leaving no one behind, and putting the furthest behind first.

However, without greater attention to the collection, disaggregation and utilization of data

on key aspects of population trends, this quest will be more difficult to accomplish.

Developing sound social and economic policies and making smart infrastr

ucture investments require a full understanding of the key features of the population at ev

ery level-its size, gender and spatial distribution, and age structure-now and in the future.

The author is the resident representative for China of the United Nations Population Fund.

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Reportcan extenChina has the capacity to extend local governm

ment bond issuance or implement more tax cuts, Economic Information Daily reported Wednesday, citing the Chinese Academy of Social Sciences.

A total of 2.61 trillion yuan ($386.46 billion) of bond quota was unused by the end of 2018, accounting for 14.1 percent of total local debt, the academy said in a report.

This means China can extend bond issuance, or undertake 14 percent of tax and fee cuts.

The debt balance stood at 18.39 trillion yuan at the end of last year, well below the official ceil

ing of 21 trillion yuan, and accounting for 109 percent of total fiscal revenue of local governments.

In 2018 local authorities raised a total of 4.17 trillion yuan through bond issuance, down from 4.36 trill

ion yuan in 2017, according to the Ministry of Finance. The local debt ratio was 76.6 percent last ye

ar, significantly lower than the international warning line of 100-120 percent.

Last year local governments’ implicit debt risk was controlled effectively, however, the total debt level was still huge, the academy said.

In 2018 new explicit debts rose 13.5 percent to 2.18 trillion yuan, while the in-balance-sh

eet interest payment reached 734.5 billion yuan, with a 17.1 percent growth rate, about 2.75 times that of fiscal revenue.

A rapid increase in interest payments put pressure on future fiscal guarantees and service capacity, the academy added.

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Global economic growth entering slowdown growth in

The global economy is projected to grow at 2.6 percent between 2020 and 2035 and enter a low

-speed growth period, Economic Daily reported citing the Development Research Center of the State Council.

Considering changes in major factors such as technology, urbanization, population and environment, global eco

nomic growth is expected to experience a declining trend with slower growth rate long-term, the center said.

Developed economies’ overall growth is predicted to slow down further to about 1.7 percent — below t

he average growth rate over the past 50 years — while for developing countries, the annual average growth rate is expected to be 4.9 percent.

Over the next 15 years, some developing countries will continue their urbanization process. A new round of tec

hnology revolution and urbanization still carries potential for economic growth in some developing countries.

The global urbanization rate is expected to be 61.7 percent by 2035, becoming a key driver for future growth, the center asserted.

a3o5.cn

South Korea, US sign cost-sharing deal for American troops

SEOUL, South Korea — South Korea and the United States struck a new deal Sunday that increases Seoul’s contribut

ion for the cost of the American military presence on its soil, overcoming previous fai

led negotiations that caused worries about their decades-long alliance.

The development comes as President Donald Trump is set to hold his second summit w

ith North Korean leader Kim Jong Un in Vietnam in late February.

South Korea last year provided about $830 million, covering roughly 40 percent of the cost of the deployment of 28,

500 U.S. soldiers whose presence is meant to deter aggression from North K

orea. Trump has pushed for South Korea to pay more.

On Sunday, chief negotiators from the two countries signed a new cost-sharing pla

n, which requires South Korea to pay about 1.04 trillion won ($924 million) in 2019, Seoul’s Foreign Ministry said in a statement.

The statement said the two countries reaffirmed the need for a “stable” U.S. mili

tary deployment amid the “rapidly changing situation on the Korean Peni

nsula.” The ministry said the U.S. assured Sou

th Korea that it is committed to the alliance and has no plans to adjust the number of its troops in South Korea.

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DPRK officials to meet ahead of summithe United States

and the Democratic People’s Republic of Korea will meet this month in an unidentified Asi

an country ahead of their leaders’ planned second summit in Vietnam, South Korean officials said yesterday.

The US special representative for the DPRK, Stephen Biegun, visited Pyongyang last week to work out details of t

he February 27-28 summit in Hanoi between President Donald Trump and DPRK leader Kim Jong Un.

After being briefed by Biegun about his talks in the DPRK, South Korea’s presidential office said that the US and t

he DPRK used Biegun’s trip as a chance to explain what concrete steps they want from each other.

South Korea’s national security adviser Chung Eui-yong, who met Biegun, repor

ted that US-DPRK diplomacy “is working well,” presidential spokesman Kim Eui-kyeom said.

He said a follow-up US-DPRK meeting ahead of the summit will take place in a third country in Asia in the week beginning February 17.

trwater.com.cn

Air NZ flight to Shanghai turns back due to lack of lan

An Air New Zealand flight from Auckland to Shanghai had to turn back midway on Sunday morni

ng after the aircraft was found to be lacking the required permission to land in China’s mainland.

The Boeing 787-9, operating as Flight NZ289, took off from Au

kland, New Zealand, around midnight on Saturday local time but turned back after flying for a

bout 4.5 hours. The flight was scheduled to land at Pudong International Airport at 7:05am Beijing time.

In a short message sent to passengers later, the airline said the “aircraft operating the flight did not have reg

ulatory approval to land in Chinese mainland and was required to return to Auckland.”

The B787-9, the bigger version of the Dreamliner, with the registration ZK-NZQ, has been flying wit

h the airline for five months, but has never landed in the Chinese mainland, according to its flying records.

According to China’s civil aviation regulation, foreign carriers are required to

submit a list of the type, nationality and registration mark of aircraft sch

eduled to land in Chinese mainland to the Civil Aviation Administration of China (CAAC) before operating the flight.

www.weishow.com.cn

China and UK celebrate icebreakers, laud even closer ties

China and the United Kingdom should break the ice of protectionism and build an open an

d inclusive world economy, China’s ambassador to the UK, Liu Xiaoming, said in London on Thursday.

“China will continue to embrace the world with open arms and stands ready to work with oth

er countries. We hope the rest of the world would respond in the same spirit,” he said. “In a time when op

enness and inclusiveness are irreversible, protectionism has no future because it is against the trend of history.”

The remarks were made before 400 business, political, and cultural leaders at

tending a Chinese New Year celebration in London that was hoste

d by The 48 Group Club and the Chinese Chamber of Commerce in Britain.

The year 2018 marked the 65th anniversary of an “ice-breaking trip” to Chi

na in 1953 that was made by a group of farsighted people from the British business community.

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The fourth opportunity is the Belt and Road Initiative, Liu

said. In 2018, trade in goods between China and countries within the re

gion covered by the BRI stood at $1.3 trillion, a 16.3 percent increase year-on-year. It w

as 3.7 percentage points higher than the growth rate of China’s overall external trade.

More than 13,000 China Railway Express trains have traveled along the BRI routes to date, l

inking cities in China with 49 cities in 15 European countries, including London, he added.

Rona Fairhead, the UK’s minister of state for trade and export promotion, said trade be

tween the two countries is worth more than 66 billion pounds ($86 billion) annually.

“UK exports to China continue to go from strength to strength,” she said. “In this n

ew year, I very much look forward to continuing our close level of engagement w

ith China. It is clear that there is still untapped demand for British goods and services in the Chinese market.”

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