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The upper and middl上海后花园he Yangtze River ha

ve enjoyed the fastest economic growth in China recent years, the report said, especially Guizhou province and Ch

上海后花园上海后花园ongqing in the upstream, and Jiangxi, Anhui, Hubei and Hunan provinces in the middle stream.

South China’s Guangdong province enjoyed year-on-year foreign trade growth of 1.3 perce上海后花园

nt, thanks to the big increase of the import and export volume with the European Union and the Asso

上海后花园上海后花园ciation of Southeast Asian Nations (ASEAN) in the first half of the year, Guangdong customs said on Tuesday.

Guangdong’s foreign trade with the European Union witnessed year-on-year grow上海后花园上海后花园

th of 13.3 percent to hit 410.67 billion yuan (about $60 billion) in the first six months, representing 12.5 pe

rcent of the province’s total, according to statistics released by Guangdong customs on Tuesday.上海后花园

The southern province’s import and export volume with ASEAN climbed to 439.95 billion yuan from January to June,

上海后花园上海后花园up 5 percent year-on-year and accounting for 13.4 percent of the province’s total.

The steady foreign trade growth with European Union and ASEAN has helped the province, China’s

biggest foreign trader, offset the foreign trade decline with the United States since the beginning of the year.上海后花园

Guangdong’s foreign trade with the United States was 378.44 billion yuan in the first s

上海后花园ix months, a year-on-year decrease of 3 percent and representing 11.5 percent of the total.

Guangdong’s imports and exports with the neighboring Hong Kong Special Administrat上海后花园上海后花园

ive Region came to 500.18 billion yuan between January and June, a slight reduction of 0.7 percent year-on-year.

Guangdong, the window of China’s reform and opening-up, recorded a foreign trade v上海后花园

olume of 3.28 trillion yuan in the first six months, accounting for 22.4 percent of the country’s total.

The province, one of the country’s economic powerhouses, generated an exp上海后花园上海后花园

ort volume of 1.98 trillion yuan in the six months ending in June, up 3.9 percent year-on-year. But Guangdong’s imp

orts saw a year-on-year decline of 2.5 percent to come to 1.3 trillion yuan in the first half of the year.

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The voice of Hong上海楼凤t majority must be heard

It should not come as a surprise that more than 300,000 Hong Kong residents, from all w

alks of life and from different nationalities, participated in a rally convened by over 70 civic leaders on Saturday.上海楼凤品茶微信

That the organizers represented the business sector, student groups, civic organizati

上海楼凤品茶微信ons and police associations shows they’ve had enough of the radical youths, who for weeks have made hea

dlines for resorting to violence supposedly to oppose an amendment to Hong Kong’s extradition law.上海楼凤

These radical youths have attacked police officers, stormed the legislature, and laid sie

ge to the police headquarters, all carried out in illegal and violent fashion, which th

上海楼凤品茶微信e silent majority of the Hong Kong Special Administrative Region could no longer remain mute spectators to.

This silent majority gathered together with one purpose in mind: to defend the SAR, its residents, its business and its values上海楼凤

by demanding an immediate end to the violence. The message “end divisions, defend Hong Kong” was read out

loud and clear by a young student at the rally held in Hong Kong’s central administrative and business center.

上海楼凤The silent majority of the SAR would have preferred to live a peaceful life and strive to achieve their dreams rather than rack t

heir brains over politics were it not for the danger their city is facing. Hong Kong’s social order and reputation as one of t

he world’s safest cities are not the only things at risk. The rule of law-which H上海楼凤

ong Kong residents cherish most and is crucial for the SAR’s long-term stability and prosperity-is also under threat.上海楼凤品茶微信

The radical elements’ sustained attacks on Hong Kong’s social fabric are a potent threat to the SAR’s上海楼凤品茶微信

social stability and economic prosperity. Not to mention people’s livelihoods and well being.

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The State Council releas上海龙凤419eline on Tuesday for

 building a credit-based market regulation system. The bankruptcy mechanis

上海龙凤419品茶微信m is one part of the whole system. Besides local government, individuals and enterprises will also be regulated.

Companies with bad credit records will receive serious punishment, said Lian Weiliang, deputy head of the National Develo上海龙凤419

pment and Reform Commission. “For the worst scenario, the companies could be prohibited from the market.”

The measures for rating companies’ credit are being drafted, and market-oriented third-part上海龙凤419品茶微信

y institutions and industry associations will be involved in the rating process, according to Lian.

上海龙凤419According to the State Council’s guideline, individuals’ and co

mpanies’ credit performance will be recorded in a timely, accurate and comprehensive ma

nner, while targeted regulatory measures will be taken on market entities with different credit levels.上海龙凤419品茶微信

Credit defaulters will be held accountable in line with specific

regulations and laws and urged to rectify their irregular practices, it said.

上海龙凤419More efforts will be made to enhance credit regulation information disclosure and impro

ve regulatory efficiency by leveraging big data and other technologies, according to the guideline.上海龙凤419

The People’s Bank of China, the country’s central bank, is also buildin

上海龙凤419品茶微信g the country’s nationwide credit information system, which is composed of a national fin

ancial credit information database and market-oriented credit information institutions.上海龙凤419

By the end of August, the national database included information on 25.42 m

illion companies and 970 million individuals, becoming the world’s largest.上海龙凤419品茶微信

Including internet finance and peer-to-peer lending information in the national sys

tem is the next step in the top financial regulators’plan. The system will also in上海龙凤419

clude data from securities and insurance companies in the future, Wan said at an earlier conference.

“Information leakage and hacking could potentially be major threats to the credit information sy上海龙凤419品茶微信

stem’s security,” he said. “So far, the system is generally stable, and has not displayed any serious leakage risks.”

www.xujiaqing.net.cn

Constitutional revision 上海419论坛for Abeime Minister S

The election to Japan’s upper house on Sunday has acquired added significance because the result would be critical to the ruli

 上海419论坛ng Liberal Democratic Party’s attempts to amend the country’s pacifist Constitution.

Constitutional amendment, the amendment to Article 9 in particular, has been a controversial 上海419论坛

issue in Japan since the end of World War II. Article 9 renounces war, and notes that the proh

 上海419论坛品茶微信ibition on the use of force by Japan is a clear constitutional rule that the Japanese government has to follow. It also

prohibits the maintenance of armed forces and denies Japan the right of “belligerency”. 上海419论坛

And it is precisely to change Article 9-which would allow Japan to have a regular military and be

come a normal country-that Japanese Prime Minister Shinzo Abe has made constitutional amendment his goal. 上海419论坛

But Abe should realize that amending the Constitution is no small feat beca

 上海419论坛品茶微信use for that, the ruling coalition of the LDP and Komeito has to have a two-thirds ma

jority in both houses of parliament, and then win an absolute majority of votes in a ref

erendum. Several attempts have been made to amend the Constitution, but none has been successful. 上海419论坛

Abe should also know that the ruling LDP’s coalition

 上海419论坛品茶微信artner Komeito is a conservative party which is skeptical about amending Article 9.

Differences among political parties, even within o

ne party, have made it almost impossible for the LDP to amend the Constitution. 上海419论坛

For example, there are diverse voices on constitutional amendment within the Abe-led LDP. While some support rev

ising the pacifist Constitution to allow Japan to have a regular military, others say the Japa 上海419论坛品茶微信

n Self-Defense Forces, which has constitutional sanction, should be strengthened to the level of a full-fledged military.

 上海419论坛品茶微信The LDP and Nippon Ishin no Kai are in favor of a constitutional amendment. But the Constitutional Democratic Party of J

apan, Democratic Party for the People, and the Japanese Communist Party strongly oppose the idea.

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We believe our location in上海后花园 could help us achiev

 greater influence because it could radiate to the surrounding markets such as

China’s Hong Kong and Macao as well as Southeast Asian countries,” the executive said.上海后花园

The Sino-Singapore Knowledge Forum was held in the city-state at the Four Seasons H

上海后花园女神会所otel on Friday, when officials and top executives from both sides signed numerous agreements.

It was the first time that the annual event has been held in Singap

ore. Previously, it had been hosted in Guangzhou, Guangdong province for the past five years.上海后花园

As a flagship project of the Sino-Singapore Guangzhou Knowledge City, an example of bilateral cooperation, the SSK

上海后花园女神会所F is currently the only high-level forum that is now taking turns to be held in China and Singapore, its organizers said.

Themed “forging new frontiers – all-round opening-up and innovation-driven development”, this year’s forum was desi上海后花园

gned to tap the collective intelligence of think tanks, experts and business leaders from China and Singapore.

Herman Lee, vice-president for market and business development at Guangzhou CanSemi Technology Inc, said the upgr上海后花园女神会所

ade of SSGKC is very encouraging for his company, and could help it further enrich its talent pool.

上海后花园The company will invest a total of 7 billion yuan in facilities in

SSGKC that will produce 12-inch wafers, of which the first phase is expected to be put into use in t上海后花园女神会所

he fourth quarter of 2019 with a monthly production capacity of 20,000 wafers.

“As we know, SSGKC will enjoy the same treatment as the free trade zone in terms of market access, investment promotions and tal上海后花园女神会所

ent attraction after its upgrade. Meanwhile, many administrative services could be fulfilled inside the district, wh

ich could further improve efficiency, meaning more money for the companies involved,” Lee said.

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Both governments pledg上海千花网e agreement that they

 will use the project to deepen cooperation in the fields of technological innovation, advanced manufacturing, artif

icial intelligence, intellectual property protection, smart city construction and urban management.上海千花网女神会所

According to official figures, 1,216 companies have registered with SSGKC since 2010, with a

上海千花网女神会所n aggregate registered capital of 125.8 billion yuan ($18.1 billion) and about 91 billion yuan in fixed assets.

Industry insiders said companies registered with SSGKC, especially those in the sector of biomedic上海千花网

ines – including General Electric, BeiGene and Innocare – will see explosive growth once they are put i

上海千花网女神会所nto operation in the next two years and will make the community a global rising star in its field.

Shortly after the agreement, the Guangzhou government said in a press release that as a model

for a city’s knowledge economy, SSGKC will undertake more innovative reforms and measures to上海千花网

make itself Guangzhou’s top investment destination for global enterprises and an ideal place for them to develop.

上海千花网Companies in the knowledge city will also enjoy incentive policies that the co

untry has gradually rolled out for the pilot free trade zones and will work together to create a上海千花网女神会所

model for the integration of advanced manufacturing with free trade, according to the local government.

The knowledge city is seeking approval from higher-level authorities to la上海千花网

unch 18 innovation policies, across the fields of intellectual property, financial services, food

上海千花网女神会所and medicine supervision, and for the construction of key platforms, the press release said.

Innovation platform

Located at the apex of the Guangdong-Hong Kong-Macao Greater Bay Area, which aims to be a worl

d-class technological hub, SSGKC will play a key role in creating an innovation platform for the上海千花网

coordinated development of the cities in the region. Officials said it can be smoothly connected with the business enviro

上海千花网nments of Hong Kong and Macao and promote multilateral economic collaborations.

Of particular interest, the local government said it aims to b上海千花网女神会所

uild a data exchange center and a technological innovation park for the greater bay area.

ash77.cn

Re-weighting of indexes 上海会所affect capital flows

Major stock and bond index providers have started, or have announced that they inten

上海会所d, to increase the weighting of China’s securities in their respective benchmark indexes over the course of 2019-20.

Global index provider MSCI Inc. announced in February that China’s coverage in the MSCI上海会所品茶微信

Emerging Market Index will increase from its coverage of 235 large-capitalization A-shares to 253 la

上海会所rge-and 168 mid-capitalization stocks. On a pro forma basis, A-shares will constitute 3.3 percent-a significant inc

rease from the current 0.7 percent-of the MSCI-EM Index when the process is completed in November.

The FTSE Russell, the first international index provider of the Chinese mainland’s benchmarks 20 years ago, has elevated Chi上海会所

na’s A-shares to emerging market status and started adding them to the FTSEEM Index from June 24, 2019. Upon f

上海会所品茶微信ull implementation of phase 1 by March 2020, the A-shares will make up 5.7 percent of the index.

And the Bloomberg Barclays Global Aggregate Bond (GAB) Index started the process of including China’s yuan-den上海会所

ominated government and policy bank bonds as a constituent on April 1. Other index providers, such as the FTSE R

ussell and JPMorgan, are reportedly also considering adding China’s debt to their indices.上海会所品茶微信

The MSCI, FTSE Russell and Bloomberg Barclays GAB indexes cover a

sizable share of the investible markets in the world. For example, the MSCI-EM alone is tr

上海会所acked by an estimated $1.9 trillion in assets under management (AUM) from pensions, endowments, passive funds, and

other investors. And the re-weighting of these major global investment indexes is expected to result in a re-allocation of capit

al across emerging markets. As a result, China’s asset market will inevitably become more important for glo上海会所

bal investors, notwithstanding the “noise” created by the ongoing US-China trade tension.

上海会所品茶微信Welcome shift for Chinese firms and global investors

An increased weighting for China’s securities in these indexes in the MSCI would me

an a larger allocation of AUM by foreign fund managers into the Chinese markets. While this shift would b上海会所品茶微信

e a welcome development for both Chinese enterprises seeking financing and global i

nvestors searching for emerging opportunities, it potentially represents bad news for other emerging markets.

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Worse, the two countri上海419论坛ves could abort the internat

ational disarmament process, because with the annulment of the INF Treaty, the US and Russia could develop new intermediate-a

上海419论坛品茶微信nd short-range missiles without constraints, which in turn could trigger a new global arms race.

Also, the US’ withdrawal from the INF Treaty could set off a chain reaction, as it is almost certain that Washington will now de上海419论坛

ploy intermediate-range missiles in Europe and the Asia-Pacific region, heightening regional tensions and fuelli

上海419论坛品茶微信ng an arms race and geopolitical competition among major powers. The new arms race, which could prompt majo

r powers to build new types of smart weapons, would pose a severe threat to international peace and security.

What is especially surprising is that some Western observers want to d上海419论坛

rag China into the discussions on certain international issues regardless of whet

her it is a party to such issues. Regarding the INF Treaty, which has played an important role in improving inte

上海419论坛rnational relations, promoting nuclear disarmament, even safeguarding global strategic balance and stability, and ther

efore remains very much relevant and significant even today, China has made clear that it is opposed to not only the

US’ unilateral withdrawal from the treaty but also the West’s efforts to make it part of a new nuclear treaty.上海419论坛

Of course, China is ready to participate in international cooperation and help maintain w

上海419论坛品茶微信orld peace and development, but only on the principle that all participating countries be made respo

nsible stakeholders. Any bilateral or multilateral agreements will be meaningless if the participating sides vio

late international rules and withdraw from them unilaterally to serve their own narrow interests.上海419论坛

The author is vice-president and academic dean of China

上海419论坛品茶微信Foreign Affairs University. The views don’t necessarily represent those of China Daily.

he Asian Infrastructure Investment Bank’s board of governors approved the applications of three African countries-Benin,

Djibouti and Rwanda-at its fourth annual meeting in Luxembourg on July 13, taking the total number of me上海419论坛品茶微信

mbers to 100. That the AIIB’s membership has reached the century mark reflects the high degree of global reco

gnition and trust it has earned as a multilateral development bank in just three and a half years.

Meticulous planning, constructive efforts and visionary leadership are need

ed to make a development bank successful in today’s turbulent global financial market. As

a China-proposed multilateral development bank, the AIIB has been playing a

pioneering role in innovative development by overcoming a series of challenges. And it has a

chieved success and global trust because of its strict self-discipline and painstaking pursuit of excellence.

www.ashddd.com

That said, the implicatio上海会所al flows from the re

weightings and consequent portfolio rebalancing should

not be viewed in isolation. In particular, the investment index chan上海会所品茶微信

ges will be phased in over many months, which will allow investors to gradually and smoothly re-allocate th

上海会所eir investments, thus mitigating the impact on volatility; and the continuing inflow

s of new AUM across constituent markets, which should help to further smooth capital flows.上海会所品茶微信

The author is a financial sector specialist with the ASEAN+3 Macroeconomic Research Office (AMRO), a regional m上海会所

acroeconomic surveillance organization. This is an excerpt from the organ

ization’s latest report. The views don’t necessarily represent those of AMRO or China Daily.上海会所

Multiple local governments including those of Handan in Hebei province, Jinan in Shand

上海会所品茶微信ong province, and Tianjin have banned the so-called Beijing Bikini-which refers to men who roll up their sh

irts or T-shirts to expose their bellies in public places in summer. Aimed at promoting civilized behavior, the ban is a tim

ely move as the “Beijing Bikini” is considered offensive, especially by women.上海会所

Yet the good intentions of the local governments cons

上海会所titute only the first step toward promoting civilized behavior, par

ticularly in public places. So the authorities should consider all possible options

and devise an appropriate plan to ensure the ban on Beijing Bikini is actually implemented.上海会所品茶微信

In this regard, Handan’s move offers some food for thought, as civic inspectors in Hanshan district gift a T-shirt to men in B上海会所

eijing Bikini to cover themselves up. This method of correcting uncivilized behavior in a c

ivilized way reflects proper social management and sends a goodwill signal to the people in general.

上海会所品茶微信However, it is necessary to make certain facts clear, and adopt the most appropriate m

ethods to deal with the issue. For instance, men in Beijing Bikini cannot be held guilty of committing an of

fense. At most, their behavior may be deemed uncivilized. In sociological terms, the

act of a man wearing nothing above the waist could be defined as minor transgression.

changhaisheng.cn

Re-weighting of index上海419论坛apital flowsk prices at

Major stock and bond index providers have started, or have announced that they intend, to in

crease the weighting of China’s securities in their respective benchmark indexes over the course of 2019-20.上海419论坛品茶微信

Global index provider MSCI Inc. announced in February that China’s coverage in the MS

上海419论坛CI Emerging Market Index will increase from its coverage of 235 large-capitalization A-shares to 253 la

rge-and 168 mid-capitalization stocks. On a pro forma basis, A-shares will constitute 3.3 percent-a significant incr

ease from the current 0.7 percent-of the MSCI-EM Index when the process is completed in November.上海419论坛品茶微信

The FTSE Russell, the first international index provider of the Chinese ma

上海419论坛inland’s benchmarks 20 years ago, has elevated China’s A-shares to emerging market

status and started adding them to the FTSEEM Index from June 24, 2019. Upon full imple

mentation of phase 1 by March 2020, the A-shares will make up 5.7 percent of the index.上海419论坛品茶微信

And the Bloomberg Barclays Global Aggregate Bond (GAB) Index started the process of including China’s yuan-deno

上海419论坛minated government and policy bank bonds as a constituent on April 1. Other index providers, such as the FTSE R

ussell and JPMorgan, are reportedly also considering adding China’s debt to their indices.

The MSCI, FTSE Russell and Bloomberg Barclays GAB indexes cover a sizable share of the invest上海419论坛品茶微信

ible markets in the world. For example, the MSCI-EM alone is tracked by an estimated $1.9 trillion in

上海419论坛assets under management (AUM) from pensions, endowments, passive funds, and other investors. And the re-weighting

of these major global investment indexes is expected to result in a re-allocation of capital across emerging markets. As a

result, China’s asset market will inevitably become more important for global in上海419论坛品茶微信

vestors, notwithstanding the “noise” created by the ongoing US-China trade tension.

www.changhaisheng.cn