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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Event planned to fete PLA Navy’s 70th anniversary

More than 60 countries will send naval delegations to participate in the 70th anniversary of the founding of the Peo

ple’s Liberation Army Navy in late April, a spokesman for the Ministry of National Defense said on Thursday.

The celebration will showcase the progress of the PLA Navy and its growing capabili

ty in safeguarding China’s overseas interests as well as regional and world peace, an expert said.

The multinational naval event will take place in Qingdao, Shandong province, in late Ap

ril, said ministry spokesman Senior Colonel Wu Qian. April 23 is the 70th anniversary of the PLA Navy’s founding.

The naval event will include high-level dialogues, an international fleet review, military band performances, cultural and sports e

xchanges as well as other activities, Wu said. Some nations will send military ships to participate in the fleet

review, though details are still in the works and will be announced at a later date, he added.

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Retail sales of local government bonds attract eager

Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we

re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.

On Monday, individuals in China were able to purchase bonds issued by t

he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N

ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc

ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.

The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu

ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno

wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.

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According to the Ministry of Finance, local government

nts in Sichuan, Shaanxi and Shandong provinces as well as Beijing will eventually be able to sell bonds at count

ers in commercial banks directly to retail investors, and the practice will be expanded nationwide after an additional period of time.

The ministry said individuals do not need to pay taxes on the bonds’ interest income, and this policy is likely to attract more investors.

Selling local government bonds to retail investors should facilitate liquidity

in the secondary market, improve the market-oriented bond pricing mechanism and pu

sh issuers to enhance the quality of information disclosure, said Amanda Du, a Moody’s vice-president and senior analyst.

“Higher coupon rates compared with treasury bonds, and the tax exemption on the interest income, make

local government bonds more attractive for retail investors,” she said. “The fast takeup by retail investors also indicates that the

bonds have won high recognition among individual buyers, supported by the local governments’ high credit ratings.”

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Finance Minister Liu Kun said at a forum on Sunday tha

t the government plans to accelerate local government bond issuance this year. “We are tryi

ng to complete the issuance of the new bond quota of 3.08 trillion yuan by the end of September.”

“We will urge local governments to inject funds into projects quickl

y in order to stabilize investment and expand domestic demand,” said Liu.

In the first two months, issued local government bonds totaled at 782.1 billion yuan. Among this, 326.1 bil

lion yuan was raised through special purpose bonds, a type just like United States municipal bonds, the ministry said.

hina will further facilitate foreign enterprises’ venture ca

pital investments in Chinese companies, said Premier Li Keqiang at the Boao Forum for Asia on Thursday.

The country will also improve the regulations on foreign investors’ strategic invest

ment in mainland-listed companies as well as on their mergers and acquisitions with domestic enterprises.

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While May was addressing her lawmakers, MPs in the mai

n chamber debated eight other Brexit options, ranging from leaving abruptly with no deal to revoking the divorce altogether.

While there was no majority support for any, the option calling for a referendum on any depa

rture deal, and another suggesting a UK-wide customs union with the EU, won more votes than May’s deal did two weeks ago.

Oliver Letwin, a Conservative former cabinet minister who led parliament’s unusual power grab, said it ha

d been expected that none would immediately win a majority, and lawmakers would have another chance on Monday.

The uncertainty around Britain’s most significant political and economic change since W

orld War II has left allies and investors aghast. Sterling dipped after Wednesday’s events.

If May’s deal were to pass, her office said there would be a contest to replace her after May 22, when Britain would leave the EU.

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She would also become the fourth Conservative prime min

ister in a row to have fallen foul of divisions over Europe within her centuries-old party, following David Cameron, John Major and Margaret Thatcher.

Most voters think the Brexit negotiation has been handled badly and there may now be a slight majority for staying in the EU, rec

ent polls suggest. Many Conservative MPs say May herself has caused the chaos by not negotiating harder with the EU.

“It was inevitable and I just feel she’s made the right decision. She has actually read the m

ood of the party, which was a surprise,” said Conservative lawmaker Pauline Latham.

Over two decades since her debut appearance at Wimbledon, Chinese legend Li

Na still remembers her awkward introduction to the iconic London tournament.

Li first competed there in the girls’ singles in 1998, and was tripped up by the switch f

rom hard courts to grass, not to mention the All England Club’s famous sartorial etiquette.

“I had no clue at all on how to play on grass,” Li recalled at Tuesday’s The Road to Wimbledon junior training camp in Beijing.

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I didn’t even know I had to wear all white, nor did I prepare

a different pair of shoes for the surface. I was overwhelmed, in an embarrassing way.”

Li played the final match of her stellar career at Wimbledon 2014 before retiring due to a chronic knee injury two months later.

Now enjoying life as a housewife and businesswoman, the two-time Grand Slam singles champion spares no effort to en

sure that China’s new generation of players are better prepared than she was for life as a pro.

Her passion for the sport remains undiminished and shone through at Tuesday’s event at Beijing’s

1123 Junior Tennis Academy, where the 37-year-old hit shots with some young hopefuls and shared insights about life on the tour.

With more international tournaments visiting the country and strong government support and investment, tenni

s has entered the athletic mainstream in China, yet the nation still hasn’t found anyone to assume Li’s throne.

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It is advisable to pursue an innovation-driven, well-coordi

inated and inter-connected, and fair and inclusive approach and forge a growth

model of vitality, a cooperation model of openness and win-win results, and a developm

ent model of balance and common benefits, so that people from across the world could share the benefits of economic globalization, Xi said.

This year marks the 70th anniversary of the founding of the People’s Republic of China, Wang said.

During his visit, Xi, based on China’s just-concluded Two Sessions earlier this month, illu

strated to the European leaders the fine performances of the Chinese economy which had overcome multiple challenges in 2018.

Wang said Xi also introduced the newly-adopted foreign investment law, emphasizi

ng that it is necessary to use legal means to better protect intellectual property rights and attract foreign investment.

Xi pointed out that China will continue to push forward all-round reform and opening-up, promote trade and investment

liberalization and facilitation, so that European friends can better share China’s development opportunities.

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hina and France reaffirmed their commitment to jointly add

ddress climate change, the loss of biodiversity and environmental

protection in a joint statement issued on Tues

day, after visiting President Xi Jinping met with his French counterpart Emmanuel Macron.

The two countries stressed that public and private funds should be directed to invest more to fight climate change and for biodiv

ersity protection, and there should be sustained financial support for the climate change actions of developing countries.

What is frustrating is the fact that solar and wind generation grew at double-digit pace in 2018, with solar alone increasing by 31 p

ercent, but that was still not fast enough to meet the higher electricity demand around the world that has driven up coal use.

China remains the leader in both solar- and wind-generated energy followed by Europe and the Uni

ted States. But despite being on course to meet its Paris climate pledge to peak its greenhouse gas emissions by 2030, sourcing 20 percent of it

s energy needs from renewables and nuclear power by that date is a tougher challenge for China. However, the addit

ional benefits of energy security and reduced pollution provide extra incentives for resolute efforts to achieve this goal.

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