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roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.
Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest
ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg
ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.
Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing
hua University, said China “should be more confident” in accelerating opening-up of its financial sec
tor, which will help global investors seize numerous opportunities in the Chinese market.
Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv
ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.
revenue collected by the US government through hefty tariffs on Chinese imports, has been paid almost entirely by US importers.
“Some of these tariffs have been passed on to US consumers, such as those on washing machines, wh
ile others have been absorbed by importing firms through lower profit margins,” the research said.
Any further increase in tariffs will likely be passed through to consumers, it said.
China and the US, the world’s two largest economies, have been embroi
led in a tit-for-tat trade confrontation over the past few months. Washington threatened to fur
ther escalate a tariff war and increased tensions by tightening restrictions on Chinese companies.
Earlier this month, the US raised tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, and China took coun
termeasures. Then the US administration listed about $300 billion more of Chinese goods for possible tariff hikes.
ew stage of preparation for the Games,” said Chen Jining, mayor of Beijin
g and executive president of the 2022 Winter Olympics Organizing Committee. “We will end
eavor to deliver a fantastic, extraordinary and excellent Olympic and Paralympic Winter Games.”
The 1,000-day countdown — launched near the iconic Bird’s Nest and the
Water Cube, both 2008 venues — underlined Beijing’s focus on sustainability in prepa
ring a second time for an Olympic extravaganza by reusing existing resources built for the Summer Games.
According to the 2022 Winter Olympics organizing committee, 11 of the 13 v
enues needed in Beijing’s downtown, where all ice sports will be staged, will use existing faciliti
es built for 2008. Repurposing projects, such as transforming the Water Cube (which hosted swimming in 2008) into a
curling arena by filling the pool with steel structures and making ice on the surface, are well underway.
including existing ski resorts and some newly built projects, to host all eight Olympic snow sports
in 2022. The three clusters will be connected by a new high-speed railway, which will be completed by t
he end of this year. It looks beyond the Games to boost future winter sports tourism.
According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the f
irst test event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.
About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hecta
re forest reserve has been built nearby for transplantation of all the trees affected by the construction.
“The preparations are ready to step up to the next stage, from planning to
the readiness phase. Beijing is ahead in the race against time,” said Liu Yumin, dire
ctor of the planning, construction and sustainable development department of the 2022 Olympic Organizing Committee.
popular destinations for overseas study, accounting for 18 percent and 1
6 percent respectively, followed by Hong Kong, Germany and Japan, the report found.
The report was based on a survey conducted by Vision Overseas Consulting Co, a subsidiary of New Oriental Education and Technolo
gy Group and Kantar Millward Brown in January and February. The survey covered 6,228 students who plan to go to school ove
rseas or have returned to China after graduation, and their parents. It is the fifth consecutive year the report was released.
Sun Tao, president of Vision Overseas Consulting Co, said: “More students chose to go to the UK for overseas study b
ecause of its high-quality higher education institutions and relatively lower costs compared with the US.”
Many UK universities now offer one-year master’s program, which can
greatly decrease the students’ cost, he said, adding that the UK government has also im