Liu’s article was published in Qiushi Journal, a flagship m

magazine of the Communist Party of China Central Committee. He said more efforts a

re needed to implement the proactive fiscal policy and boost efficiency this year.

Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.

Innovative financial tools will be introduced for debt swaps, and the indebted comp

anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea

d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.

“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this

round of debt swaps will not involve the government’s administrative orders, but depends on the ma

rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.

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The National Health Commission issued draft regulatio

ns in February for the clinical application of new biomedical technologies, stipulating that clini

cal research that involves human trials, including gene editing, stem cells, organ transplants be

tween species and assisted reproductive technologies, must secure the approval of the commission in advance.

Under the draft, which is yet to be adopted, violators may face punishments including fines, revocation of business permits or criminal charges.

The commission this year will complete its revision of an existing r

egulation on ethical inspection of human-related biomedical research that was adopted in 2016.

Authorities are also considering establishing a national ethics co

mmittee that supervises life science technologies and researchers to ensure compliance wi

th ethical standards, Huang Jiefu, former vice-minister of health, told China Daily in an earlier interview.

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m are becoming increasingly fierce. We must

 adamantly safeguard the contemporary international order that was foun

ded by the UN and that brought about more than 70 years of general peace and rapid de

velopment after World War II. We must oppose a Cold War mentality and competitive rivalry, which go against the ti

de. We must firmly promote economic globalization, and prompt it to develop in a more inclusive, mutually beneficial, equ

itable and rational direction so as to realize a common prosperity and progress of humanity.

Third, we should be disseminators of Chinese civilization. Many pundits in the contemporary world think that China’s trad

itional culture contains important answers to resolving difficult problems of today’s world. A nation’s most profound spiritual

pursuits are deposited in its culture. China’s development path is rooted in its civilization and traditions.

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The reception followed a meeting of Russian and DPRK

delegations, which was preceded by a one-on-one meeting between Putin and Kim.

Kim arrived here in his train on Wednesday for his first meeting with Putin.

The meeting came at a time when tensions were growing between the DPRK and t

he United States.At the end of 2018, Australia became another “surveillance state” with the passing of the T

elecommunications and Other Legislation Amendment Bill or the Assistance and Access Bill 2018.

Last week, the DPRK test-fired a new tactical guided weapon and requested Washi

ngton to exclude U.S. Secretary of State Mike Pompeo from future negotiations.

In response, Pompeo swept aside Pyongyang’s demand ab

out replacing him by someone “more careful and mature” to deal with the talks.

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Unlike the second version, the latest one included rule

on the new science and technology innovation board, which will pilot the registration-based IPO system, according to Xinhua.

To accommodate the progress of reforms and development of the capital market, other modifications have also been made, cov

ering public issuance of securities, securities trading, and the protection of investors’ rights and interests, Xinhua said.

Dong expects the latest version to legitimize registration-based IPO systems not only

on the new board, but also across China’s whole A-share market. “Once the system achieves success on the n

ew board, it should be adopted on other submarkets as soon as possible,” Dong said.

President Xi Jinping announced in November that China will launch the S&T innovation board and pilot the registr

ation-based IPO system. Analysts expect the new board to begin trading around the middle of this year.

“The latest draft is expected to make comprehensive revisions, and it could go a long way

toward restoring public investors’ confidence and modernizing the regulation and governance of the ca

pital market,” said Liu Junhai, director of the Business Law Center at Renmin University of China.

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In early April, the US increased military interactions

with the island by officially acknowledging that military personnel have been posted in the Taipei office of the American Institute in Taiwan since 2005.

US weapons manufacturer Raytheon was also granted a $9 million contract to upgrade Taiwan’s Patriot missile defense system.

Senior Colonel Liang Fang, a professor at PLA National Defense Universit

y, said the recent drill will test and enhance the PLA’s joint operating capabilities.

“It will increase the PLA’s ability to protect national sovereignty, and warn thos

e who are trying to undermine it to abandon their illusions,” she said. “Similar drills

will be more common in the future, with increasingly sophisticated equipment and training methods.”

Xiu Chunping, a researcher at the Chinese Academy of Social

Sciences’ Institute of Taiwan Studies, said the recent drill serves to warn the US and separati

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EU gives PM May ‘flexible’ Brexit recess to Oct 31

European Union leaders gave Theresa May a new Brexit deadline of Oct 31, four months longer than the p

rime minister asked for, in a move the EU summit chair said would let Britain resolve its domestic deadlock on the issue.

“EU27/UK have agreed a flexible extension until 31 October,” European Council Pres

ident Donald Tusk tweeted after eight hours of talks that went into the early hours of Thursday.

“This means (an) additional six months for the UK to find the best

possible solution,” Tusk added on the eve of what would otherwise have been the day Britain

crashed out of the bloc with no deal to smooth the departure for businesses and citizens.

Britain, he stressed, could still leave earlier if May secures parlia

mentary backing for her Brexit treaty, or it could amend what it wants from a future trade pact. “Until t

he end of this period, the UK will also have the possibility to… cancel Brexit altogether,” Tusk added.

The agreement gives May more than the three months to June 30 that she asked for to bui

ld a parliamentary majority behind the withdrawal treaty she negotiated with the EU last year.

koryoung.com.cn

Small train supplies water to mountain for 44 years

 For residents in Huojugou village in China’s Changbai Mountains, a train whistl

e is a euphonious sound that will bring gurgling water to their kitchen and bathhouse.

For 44 years, the mountainous village and several others in northeast China’s Jilin Province

have relied on a train, which only has one locomotive and one tank car, to provide their water supply.

The train commutes between the towns of Songshu and Baihe, nestled deep in Changbai Mountain. Since 1975, it has run for m

ore than 1.6 million km, delivering water to over 2,600 nearby villagers that had limited access to clean water.

Though cisterns have been built to store water unloaded from the trains, villagers along the line

still keep the tradition of welcoming the train in person, clanking their buckets and bottles.

Fetching water used to be a big headache. We had to travel to a far-away river to get water and e

ven make a hole in the ice during winter,” said Li Zuopei, an 80-year-old resident in Yingbishan village.

“Then the small train sent water right to our doorsteps, and it’s amaz

ing that the service has been going on uninterrupted for so many years,” said Li.

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Instead of solely emphasizing high yields, the Green Su

 Super Rice project is geared to guarantee stable yields while beefing up crops’ resistance against drought, flooding and diseases,” Li said.

“Thus, farmers are able to save a large amount of resources, such as fertilizers or irrigation water, to fight those issues,” he added.

The sustainability of the approach is welcomed by Philippine agricultural researchers and farmers, according to Jose

Yorobe, a consultant with the International Rice Research Institute in the Philippines. He attended a meeting in Beij

ing on Tuesday, along with dozens of representatives from participant countries, that marked the project’s conclusion.

“Because of climate change and population growth, developing countries are now pressured to increase rice prod

uctivity,” he said. “Some high-yield modern varieties are still vulnerable to inclement weather, pests and disease.”

www.ypfna.cn

According to the Ministry of Commerce, as of the end of N

ovember 2018, France had invested in 5,647 projects in China, with actual investment value amounting to $17.49 billion.

“There are no official rules for French enterprises to succeed in C

hina. The main rule is to respect the Chinese people,” said Raffarin.

Well-known by many Chinese people as a “good friend” of China,

the 70-year-old said he has visited China more than 100 times since his first trip in 1970.

Residents in Chinese mainland will be able to apply for passpo

rts and travel permits at every exit and entry management department across the coun

try starting from April 1, according to National Immigration Administration on Tuesday.

The travel permits refer to the documents allowing mainland residents to travel to and from Hong Kong, Macao and Taiwan, it said.

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