ending by banks surges in Januaryasures fend off nega

hina’s credit growth surged unexpectedly to a record pace in January, strengthening production in the real econo

my and easing overall downward pressure, People’s Bank of China, the country’s central bank, said on Friday.

Bank lending in domestic currency increased by 3.23 trillion yuan ($476.8 billion) last month, the fastest single-month growth

since the figure was first tracked in 1992. It increased by 2.9 trillion yuan in January 2018, the bank said.

Total social financing, a broader measure comprising all money the real economy receives from the fi

nancial sector, including off-balance-sheet financing activities, rose by 4.64 trillion yuan in Ja

nuary, which was also the fastest monthly growth ever, according to the central bank.

The month’s rapid credit growth was a result of a series of precauti

onary measures to ease the negative effects of slowing domestic demand and external h

eadwinds, according to Sun Guofeng, head of the bank’s monetary policy department, at a news conference.

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ooperation will bring benefits to the two countries while

conflicts will injure both sides, he added.Xi called China-US ties one of the world’s most important

bilateral relationships, and the two countries have wide common interests a

nd shoulder important responsibilities in safeguarding world peace and promoting global prosperity.

Maintaining the healthy and stable development of the China-US relationship is in line with the fundamen

tal interests of the people of both countries, and it is also the common wish of the international community, Xi said.

Xi mentioned his latest meeting with US President Donald Trump on the sidelines of the G20 Leaders

Summit in Argentina in December, saying that the two leaders reached important consensuses.

The two countries should promote building stable, cooperative and coordinative Chi

na-US relations, Xi said. The two sides should enhance communication, focus on cooperation a

nd handle disputes to promote economic and trade cooperation, Xi added.

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Both sides had specific discussions about a memorandum

of understanding on bilateral economic and trade issues, Xinhua reported. The two sides said they will step up their work

within the time limit for consultations set by both heads of state, and strive for consensus.

Vice-Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin headed the talks.

After tit-for-tat exchanges of hefty import tariffs, China and the US agreed in December to halt new ta

riffs for 90 days to allow for talks. Since then, the world’s two largest economies have conducted i

ntense negotiations on a wide array of topics, such as trade and structural issues.

Wei Jianguo, vice-president of the China Center for International Economic Ex

changes, said China and the US have maintained close contacts in recent m

onths, which reflects their positive desire to solve genuine problems and foster cooperation.

Wei, a former vice-minister of commerce, underlined the importance of conducting rule-based negotiations and seeking win-win solutions.

Diao Daming, associate professor at Renmin University of China’s School of International Studies, said the world’s two la

rgest economies can deliver positive results in future trade talks to allay global concerns.

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Easing likely with slowing of economiespected to move

na may move more toward monetary easing, joining a group of other major economies prone to dovish policy typified by more accommodative measures that stimulate growth, analysts said.

This comes at a time when global central bank governors have become more concerned about an economic slowdown and put tightening measures on hold.

Central bankers in the United States, European Union, Japan and Oceania have had a change in

mood in the past month, given worries that a too tight monetary environment may not cushion the

ir economies from shocks from trade tensions, Brexit and financial vulnerabilities. They sounded the alarm ov

er global uncertainties after the International Monetary Fund downgraded its forecast of the world’s economic growth in January.

With bank governors delivering dovish speeches one after another, the Chinese mo

netary authority is considering an adjustment to financial institutions’ “act

ual” lending rate for companies in order to remove the “obstacle” that constrains credit flowing into the co

untry’s production sector, according to Sun Guofeng, head of the PBOC Monetary Policy Department

113xe.cn

Naturalization becomes increasingly popularup quarterfinal

China lost 3-0 to Iran in late January in the Asian Cup quarterfinal, conceding all three goals due to defensive errors. “When you face a strong team like Iran, you

have to avoid making the mistakes. I did not expect we lost the game in this way,” China coach Marcello Lippi said.

With the Olympic qualifying tournament and the 2022 World Cup quali

fying campaign around the corner, China faces an uphill battle with a limited squad.

Hou Sæter’s versatility has been praised by Guo’an head coach, Rog

er Schmidt, who has said the midfielder can play a number of positions across the pitch.

Naturalization has become increasingly popular in international football in recent

years, and has been used by Japan, the Philippines, and AFC Asian Cup holders Qatar.

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ummarizes key insights from the world’s best business, leadership and productivity books.

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Area encompasses Hong Kong and Macao, as well

Stock markets in China edged up on Tuesday as market sentiment was partly boosted by the news about the upcoming Bay Area blueprint.

The benchmark Shanghai Composite Index rose 0.68 percent to close at 2,671.89

points, while the Shenzhen Component Index closed 1.15 percent higher at 8,010.07 points.

Gains were seen across Greater Bay Area-related sectors.

Kaisa Group, which owns lots of land in the bay area, surged 3.5 percent, while Shen

zhen International Holdings and Shenzhen Invest both notched healthy increases.

5G-related stocks were also up as China Tower closed 2.4 percent higher while Yangtze Optical Fibre and Cable climbed 3.5 percent.

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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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The central authorities plan to adopt the National VIemission

The bureau is soliciting public opinion on the draft until Feb 20.

With the new standard, major polluting gas from light-duty vehicles, including ca

rbon monoxide and nitrogen oxide, will be reduced by about 50 percent and em

issions of particulate matter will be reduced by about 40 percent, according to the bureau.

For heavy-duty diesel-powered trucks, the emissions of nitrogen oxide and particulate matter are expected to drop by more than 60 percent, it said.

Mobile sources, mainly vehicles, contributed 45 percent of locally generated

hazardous particles known as PM2.5 in 2017, outnumbering all other types of sources, according to the bureau.

Beijing has seen continuous improvement in its air quality. The PM2.5 density in th

e capital in 2018 stood at 51 micrograms per cubic meter, down by 12.1 percent year-on-year.

Officials and experts have said, however, it could be increasingly challe

nging for the city to further reduce air pollution after the local government has taken all ma

jor measures that could achieve quick results, including the shifting of bulk coal to clean energy as a heating source.

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Film academy probes PhD actor accused of academic plag

The Beijing Film Academy is investigating actor Zhai Tianlin, who has been the target of plagiarism allegations, Beijing Youth Daily reported on Monday.

The academy organized an investigative team to look into Zhai’s case and has zero tolerance for academic misconduct, the newspaper said, citing the academy.

Zhai, 32, has a PhD from the academy and is a postdoctoral candidate at Peking University. He

found himself in hot water on social media recently after a Sina Weibo blogger accused him of plagiarism last week.

Zhai, who is said to have the highest academic qualificat

ions in China’s entertainment industry, has frequently flaunted his academic achievements in his

social media posts, which have detailed the difficulties he said he had while working on his papers.

He raised a flurry of chatter online in August when he said in a live video appearan

ce that he did not know what the China National Knowledge Infrastructure was. CNKI is the largest a

nd most widely used online academic library in China for university students writing theses and dissertations.

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The post by the Sina Weibo blogger claimed that one of Zha

i’s papers published in an academic journal, was uploaded to CNKI and the similarity score for the 2,783-word article was 40.4 percent.

Another post by the same blogger claimed that Zhai’s doctoral graduation dissertation

could not be found in the CNKI database, while all the graduation dissertations written by his classmates could be found there.

The posts stirred a heated debate among netizens, with many saying academic misconduct

was unfair to students who had worked hard to obtain a degree. They have called for strict rules to curb such behavior.

“For someone with a PhD, how could he not know what the CNKI is? And how could he have never used it for referencing academic works?” one netizen wrote.

“I was only joking when I said that I did not know what CNKI was,” Zhai wrote in response

to the post. “Will anyone believe me if I said that I do not know one plus one equals two?”

Zhai’s studio said on Friday that he obtained a PhD from the Beijing Film Academ

y in June, and all his academic papers and his dissertation were written by him under the guidance of supervisors.

He has met all graduation requirements from the academy and is willing to be held responsible for any academic misconduct, the studio said.

Peking University declined to comment when contacted by China Daily on Monday.

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