inopec establish joint venture with Russian companie

hina Petrole上海会所品茶微信um and Chemical Corp, the world’s larg

est refiner by volume, has agreed to establish a joint venture with Russia’s Novatek and Gazp

rombank to market natural and liquefied natural gas (LNG) in China, Sinopec said on Thursday.

The agreement, which aims to sell LNG produced by Novatek in the Arctic, was signed fo

llowing talks in Moscow between Russian President, Vladimir Putin, and Chinese President, Xi Jinping.

The agreement will be of considerable economic and social benefit an

d will further diversify China’s natural gas imports, while meeting ever-increasing ga

s demand in the country, said Dai Houliang, China Petrochemical Corp president.

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“It’s quite unusual for FedEx to reroute all four par

cels by mistake. If they did, they will be held responsible for contract infringement,” sai

d Yin Shaocheng, an associate professor of law at Capital University of Economics and Business.

Huawei was among the Chinese tech companies recently entered on

to the US’ Entity List which bans US companies from selling components and software to them.

Vice-Minister of Commerce Wang Shouwen said there is no need to over-interpret the cas

e, since “foreign companies will be investigated when possible violations occur in accordance with Ch

inese laws”. Wang said China always protects the legitimate interests of foreign investors.

The strength of China’s economy is propelling its cities toward

s greater prominence on the global stage, a report has shown.

China is gaining ground on both Europe and North America as its impro

vement in performance and potential outpace those of Western cities, accordin

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For example, in March, China provided a remote-sens

sing monitor report on flooding in Iran via Fengyun. The analysis estimated the coverage and

terrain characteristics of the flooded area, which greatly assisted the country’s evacuation efforts.

China has launched 17 Fengyun series meteorological satellites, of which seven are currently operational.

The World Meteorological Organization has included China’s Fengyun se

ries of meteorological satellites as a major element of its global Earth observation system.

ountries should work together for a better future in today’s world that is globaliz

ed and multipolar, Javier Solana, former secretary-general of NATO, said in an interview with China Daily.

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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 traditional family model of the man bringing hom

the bacon and the woman looking after the family doesn’t seem to have changed much eve

n today. As a result, Chinese mothers still shoulder most of the responsibilities of raising kids.

In the absence of fathers, mothers are more likely to pay greater attention to their kids and their

education. This could not only prevent the children from learning life skills, but also make them bur

dens for their mothers. And the greater the burden they become, the more their mothers would be stressed out.

Yet such anxiety could be easily shared by, if not transferred to, other family members. A highly emotional yet anxious moth

er is more likely to make a wrong decision about her child’s education, which in turn could have a negative imp

act not only on the child’s healthy growth but also the health of the mother and the husband-wife relationship.

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Sourabh Gupta, resident senior fellow at the Washingto

ton-based Institute for China-American Studies, specifically praised the new Foreign Investm

ent Law-passed in March by China’s national legislature and effective in 2020-which he said is “a far

sighted piece of legislation” that “will firmly usher in a new round of reform and opening-up”.

“Strong measures to deal with political, regulatory and administrative noncompliance are envisaged. A robust wor

king mechanism to promptly address foreign businesses’ complaints is also envisaged,” said Gupta, who believes the p

rovisions are a big step in assuring foreign businesses that the playing field is leveled in China.

“It is the predictability, transparency and nondiscrimination bent of the law which, in my view, will lead to a significant inw

ard flow of foreign capital in key services and advanced manufacturing sectors,” he said.

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Some facts may be twisted and distorted to sensatio

nal proportions. But nothing can obliterate the tangible benefits the development initiative has brought. In less than six

years, the nascent Belt and Road are already changing development landscapes in multiple places and dime

nsions. Thanks to the initiative, East Africa has seen its first expressway, the Maldives its first cross-sea bridge, Belar

us its own car-manufacturing enterprise, and landlocked Kazakhstan finally has access to the sea.

And while China-Cambodia trade may not look to be in perfect balan

ce at this point, Belt and Road cooperation between the two neighbors is laying a solid fo

undation for the latter’s future progress. Take the Sihanoukville Special Economic Zone for instance. An exem

plary project under the framework of the Belt and Road Initiative, it is expected to host 300 enterprises, create 100,0

00 industrial jobs, and serve as a resident-friendly new community housing 200,000 people.

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Gao cited data to rebut that view and urged AmCham Chi

ina to evaluate China’s market access and business environment for foreign investors in a “comprehensive, objective and fair” way.

The ministry’s data showed that US investment in China jumped 71.3 percent year-on-ye

ar in the first three months of this year. In 2018, US investment increased 7.7 percent year-on-year.

Gao said expansion of the investment figures fully demonstrates that US compan

ies continue to be optimistic about the market and accelerate the pace of investing in China.

Gao cited another survey published in February by AmCham China that showed that most US

companies with operations in China said they have continued to see their revenues grow there.

Gao said the ministry will maintain close contact with foreign enterprise

s and business associations, and continuously improve China’s business environment.

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The China-Belarus Industrial Park, located 25 km from Mi

insk and covering an area of 91.5 square kilometers, is the first special economic area in Bela

rus and the largest intergovernmental cooperation project between China and Belarus.

The industrial park is stepping up efforts to attract more global investors, with 43 companies registered by the end of February.

Among the 43 companies, 26 are from China, 10 from Belarus, and seven from other countries, like the United States and Ru

ssia. The companies have signed agreements to make total investments of more than $1 billion in the park.

The China-funded Djibouti International Free Trade Zone, which started construction in January 2017, opened on July 5, 2018.

Covering an area of 48.2 sq km, the zone is operated by a join

t venture with investment by Chinese enterprises, including China Merchan

ts Holdings and Dalian Port Corp Ltd, as well as the Djibouti Ports and Free Zone Authority.

More than 20 enterprises from the commerce, logistic, processing sectors have signed letters of intent to re

gister with the FTZ, as infrastructure in the first phase of the FTZ, which covers an area of 6 sq km, has been basically completed.

The FTZ is expected to become a crucial junction linking other African countries involved in the Belt and Road Initiative, and

make Djibouti, the small northeast African country, a marine logistics hub linking Africa, Asia and Europe.

www.riuy8.cn

Rice project benefits nations in Asia, Africa

Chinese scientist says resilient varieties boost harvests, minimize use of fertilizers

A decadelong agricultural project spearheaded by Chinese scientists has helped alleviate poverty for more than 1.6 million f

arming households in 18 Asian and African countries through cultivation of high-yield and resilient rice strains.

The Green Super Rice project, led by the Chinese Academy of Agric

ultural Sciences, has generated 78 rice varieties that boast an average 20 percent increase in har

vest per hectare while minimizing the use of fertilizers, pesticides and irrigation, said Li Zhikang, a professor and

researcher of rice breeding at the academy and a leading member of the project, on Tuesday.

The total area planted with the varieties in participating countries h

ad expanded to 6.12 million hectares by the end of last year, including around 3.4 million hect

ares in the Philippines, 1.3 million hectares in India and 1.1 million hectares in Vietnam, he said.

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