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Regulatory upgrade needed to deal with financial risks

Since the 19th National Congress of the Communist Party of China (CPC) last year, the pace of opening-up in China's financial sector has been even more rapid. On Saturday and Sunday, the 2018 Tsinghua PBCSF Global Finance Forum was held in Beijing, with the theme of “Financial Reform, Opening-Up and Stability in the New Era.” Attendees at the forum offered their views on the impact of opening the financial sector, the direction of financial reforms, technology for financial infrastructure service and supervision, and measures for dealing with risks.
Source: Global Times | 2018/5/22 21:53:41

Royal wedding a costly affair but tourism bonus for UK makes it worth every penny

Britain's costly royal wedding was worth every penny. The marriage of Prince Harry to Meghan Markle on Saturday could leave taxpayers out of pocket by more than 30 million pounds ($40.26 million). But if the transatlantic union lures even a small number of extra US tourists to the UK, the expense can be easily recouped.
Source: Global Times | 2018/5/22 21:53:40

Where does confidence in China's manufacturing come from?

After the ZTE incident, many people in China have begun to question the level of the nation's manufacturing. Some of these people formerly thought highly of it. How can we see the position of China's manufacturing in the world objectively? In terms of manufacturing added value, China is already first in the world. China's per capita manufacturing added value also significantly exceeds that of major developing countries.
Source: Global Times | 2018/5/21 22:08:40

China must coordinate with India, Europe to restrain US trade unilateralism

India and the EU have given the WTO “lists of the US products that could incur high tariffs in retaliation for US President Donald Trump's global tariffs on steel and aluminum,” Reuters reported over the weekend. Although the US has pulled back from launching a trade war with China, policy coordination among China, India and European countries is still needed to jointly restrain Trump's unilateralism.
Source: Global Times | 2018/5/21 22:08:39

Trade agreement is best outcome for China, US

There won't be a Sino-US trade war. This was the core achievement of Vice Premier Liu He's negotiations with the US. According to the statement made on Saturday, the two sides agreed to reduce the US trade deficit with China. China will increase the imports of US goods and services, including agricultural products and energy exports, and will attach more importance to patent protection and two-way investment.
Source: Global Times | 2018/5/21 22:03:40

Closing gender gap will take decades unless tech firms set bold recruitment targets

About one in three employees at Google, Facebook and Apple is a woman. That's an imbalance that tech sector executives Sheryl Sandberg and Tim Cook say they want to change. Yet even if their companies set a target of just over half their new recruits being women, a Breakingviews calculator shows that closing the gender gap will take up to 15 years.
Source: Global Times | 2018/5/21 22:03:39

US falsehoods show it can't escape Thucydides's Trap

Recently, the US Department of State issued an independent report accusing China of using debtbook diplomacy to serve its strategic aims in the Asia-Pacific. In the report, it mentions that China is providing strategic loans to small countries in the region and seizing the resources it wants when those countries have trouble repaying the debt. The report grabbed worldwide attention.
Source: Global Times | 2018/5/20 22:28:39

Australia needs to rethink its identity to cultivate appropriate ties with China

Australian Prime Minister Malcolm Turnbull is reportedly scheduled to travel to China later this year, following a visit last week by Australian Trade Minister Steven Ciobo, who was the first Australian minister to visit China in eight months.
Source: Global Times | 2018/5/20 22:23:39

Blockchain offers new gateway for China's progress

There are massive opportunities for blockchain technology in emerging economies, especially China, where there are serious thoughts about integrating blockchain into the increasingly innovation-oriented economy.
Source: Global Times | 2018/5/20 20:48:41

Chinese airlines ready to embark on long-haul price war with international rivals

Chinese airlines are ready to rumble. Having freed local carriers to hike fees at home, the government will now let them compete on long-haul routes to overseas destinations. A price war to serve popular destinations is in the offing, as the Big Three – China Eastern Airlines, China Southern Airlines and Air China – fight it out. That will come at foreign rivals' expense.
Source: Global Times | 2018/5/20 20:48:39

Improving energy security needs long-term govt focus

Energy prices, especially oil and natural gas prices in China, have made a strong comeback after a temporary decrease earlier this year. From January to April, imports of crude oil and natural gas rose 8.9 percent and 36.4 percent year-on-year respectively, while costs were up 32.3 percent and 66.6 percent.
Source: Global Times | 2018/5/17 23:38:41

China supports India's economic overture toward NK's reform, opening-up

The Indian Minister of State for External Affairs Gen VK Singh made a surprise trip to North Korea earlier this week as India sought to revive its ties with the isolated country. The visit sent a good signal for the Asian economy.
Source: Global Times | 2018/5/17 23:38:40

Investors should not be fooled by ICO scams

Initial coin offerings (ICOs) have become the most common way to finance cryptocurrency ventures, of which there are now nearly 1,600 and rising. In exchange for your dollars, pounds, euros, or other currency, an ICO issues digital “tokens,” or “coins,” that may or may not be used to purchase some specified good or service in the future.
Source: Global Times | 2018/5/17 21:33:40

Gambling firms rub hands as lifting of US ban on sports betting offers huge market

Get ready to gamble: US sports betting is going legit. The Supreme Court on Monday ruled that the feds can't stop states legalizing wagers on basketball and other games, ending a 1992 ban. It will push a black market into the light and give gaming firms, sports leagues and media outlets like ESPN a grab at a big revenue pot.
Source: Global Times | 2018/5/17 21:28:40

China, Russia can both benefit from Far East progress

Vladimir Putin began his fourth term as Russian president last week. In recent years, there has been speculation that the closer relations between China and Russia may have been partly the result of Russia's need for allies amid increasing pressure from the West.
Source: Global Times | 2018/5/16 22:23:41

Vodafone CEO leaves on a high, but successor faces tough task to make Liberty Global deal work

Vodafone's departing chief executive, Vittorio Colao, is leaving a tough job for his successor Nick Read. A disciplined approach to acquisitions and investment has helped the mobile group beat peers' returns. The challenge for Read, who is currently the company's chief financial officer, is to make a success of the giant Liberty Global deal at a company that's more used to pruning than growing its portfolio.
Source: Global Times | 2018/5/16 22:23:40

Globalization, B&R provide impetus for Arab nations

As the world tries to understand the 21st century's geopolitical challenges, Arab countries are finding themselves at a crossroads when finding ways to make their economies more sustainable by targeting connectivity, technological innovation and entrepreneurship.
Source: Global Times | 2018/5/16 22:13:40

Lenovo 5G incident shows need for Chinese companies to cease mindless competition

A public letter co-signed by Lenovo Founder Liu Chuanzhi was issued Wednesday on the Chinese personal computer (PC) maker's official WeChat account, rebutting criticism that the company “committed treason” in fifth-generation (5G) standards voting in late 2016 taking Qualcomm's side.
Source: Global Times | 2018/5/16 22:08:40