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After 40 years of high-speed growth, China’s economy ha
s entered a high-quality development phase. Starting today, China Daily will feature a series of reports to sh
ow the new landscape across the country. This is the first installment of the series.
Beijing’s municipal government has been making efforts to develop high-end industries suc
h as 5G, artificial intelligence and the industrial internet in order to build the city into the nation’s scientific and innova
tion center, which is a core strategy of the capital’s high-quality growth plan, a senior officials said recently.
Lin Keqing, executive vice-mayor of Beijing, said the city is aimin
g to make new information technology and medical health twin drivers of the municipality’s growth.
“Beijing will make better use of resources to develop the biomedical indus
try and extend its value chain,” Lin said. “We have unveiled an international medical-use ro
botics innovation center in Zhongguancun, China’s Silicon Valley, and a group of companies in the sector.”
Danish architectural firm Bjarke Ingels Group, is inspired by the Chinese yin and yang symbol. The facility allows the male and fe
male pandas to live apart most of the year, yet in proximity and with easy access to a common area when the female is in heat.
Copenhagen Zoo CEO Jorgen Nielsen hailed the impending
arrival of the two pandas as one of the biggest events in the zoo’s 160-year history.
China’s Belt and Road Initiative, proposed by President Xi Jin
ping nearly six years ago, has made practical progress, with 125 countries and 29 inter
national organizations having signed 173 cooperation agreements under the initiative framework as of March 27.
Under the initiative’s five cooperation priorities of policy coordination, facilities connectivity, unimpeded trade, finan
cial integration and people-to-people bond, there are a batch of projects, such as transportation const
ruction and industrial infrastructure, in full swing or already having yielded fruitful results.
Here are some of the amazing projects achieved worldwide under the initiative.
nd we know how to do it,” Boeing CEO Dennis Muilenburg said in a video, according to the report.
Also on Thursday, an Ethiopian official confirmed news reports that the flight crew of the d
oomed flight had followed Boeing’s recommended procedures, at least in part, by disabling the automated anti-s
tall system of the 737 Max 8 but were unable to regain control of the plane before it crashed.
At a news conference in Addis Ababa, the nation’s transportation minis
ter confirmed earlier indications that the plane’s anti-stall system was repeatedly triggere
d in the minutes between the takeoff and crash, but he did not draw definitive conclusions about the crash’s cause.
“The pilots turned the MCAS on and off, but I can’t say how many times, because we will find t
hat out when we have the final report,” Dagmawit Moges, Ethiopia’s transportation minister, told The N
ew York Times. Moges was referring to the anti-stall Maneuvering Characteristics Augmentation System.
domestically rated “AAA”, the safest level. The sale to individual investors is mainly of project-link
ed special-purpose bonds, a type of local government bond vigorously promoted by the government in re
cent years. The cash flows generated from the underlying projects will be used as the primary repayment sources.
In China, there are two types of local government bonds: general bonds and special purpose bonds. According to the country’s 2019 budget repor
t, which was approved by the top legislature earlier this month, the budgeted deficit for local governments is 930 billion yuan, up 100 billi
on yuan compared with 2018, and this fund gap will be supplemented by general bonds.
In the meantime, 2.15 trillion yuan of special purpose bonds will be issued to support la
rge infrastructure projects, such as shantytown renovation projects and railways, said the ministry.
Letting individual buyers invest in local government bonds is a way to narrow the government’s financin
g gap, said Hu Yijian, a tax professor at Shanghai University of Finance and Economics. The gap is expected to expand, as policym
akers decided to cut about 2 trillion yuan in taxes and fees this year while at the same time increase spending on investment.