icts appear to have a religious or ethnic basis, some scholars believe their root cause may be economic, with ethnic divisio
s serving as a way to exclude other groups from access to scarce resources and opportunities. Whatever its so
urce, inequality of opportunity has a highly disruptive effect on governance and hence growth.
But these obstacles are not insurmountable. For one th
ing, developing countries now have huge potential export markets in middle-inc
ome countries, and no longer depend entirely on advanced economies for access to global markets.
There is also a renewed awareness of the importance of infrastructure in e
nabling growth. In addition to roads, railways and ports, electricity and digital conn
ectivity are crucial. In this regard, the rapid expansion of cellular wireless technology, combined with the install
ation of high-capacity undersea broadband pipes around Africa, represents major prog
China’s consumer price index (CPI), the main gauge of inflation, gr
ew 2.5 percent year-on-year in April, the National Bureau of Statistics (NBS) said Thursday.
The reading, in line with market expectations, accelerated from the 2.3 percent gain in March and 1.5 percent in Febru
ary. On a monthly basis, consumer prices edged up 0.1 percent, compared with the 0.4 percent drop seen a month earlier.
NBS official Dong Yaxiu attributed the rise to higher prices of vegetables, pork and fruit, which ros
e 17.4 percent, 14.4 percent and 11.9 percent, respectively, from the same period last year due to tighter supplies.
Food prices, which account for nearly one-third of weighting in China’s CPI, went up 6.1 percent year-on-year.
Meanwhile, China’s producer price index (PPI), which measures inflation at the factory gates, rose
0.9 percent year-on-year last month, up from the 0.4 percent gain in March that showed improving market demand.
future for mankind in his speech at the headquarters of the United Nation
s in September 2015, and in his report for the 19th National Congress of the Communist Part
y of China in October 2017, Xi has pledged on different occasions to build a peaceful, safe, prosperous, open, incl
usive, clean and beautiful world to let the sunshine of a community of shared future for mankind illuminate the world.
The world, which is going through a phase of adjustment that features huge development and fundamental changes, faces
great and unfamiliar turbulent situations — the overall trends of peace and development are irreversible, while ins
tability and uncertainty are prominent. Some problems and challenges are unprecedented, and the interna
tional community faces crucial choices concerning the future of the world and the fate of humanity.
The People’s Bank of China (PBOC), the central bank, has upgra
ese currency, and on Monday announced the issuing of the new batch from Aug 30.
The new issuance will include notes with a face value of 50 y
uan ($7), 20 yuan, 10 yuan and one yuan, and coins valued one yuan, 50 fen and 10 fen.
Compared with the current series in circulation, the new batch will see brighte
r colors and adjusted patterns with enhanced anti-conterfeiting feature, a PBOC official said.
The five-yuan note will not be in the upcoming issuance as new technologies on the note are still under testing. The 100-y
uan note was issued in November 2015, which has shown improved anti-conterfeiting capability, said the PBOC source.
ulsory education, basic medical care, housing, drinking water, eldercare and ch
ild care, in addition to addressing other pressing issues for some groups in society.
Social security mechanisms to help those most in need will be furthe
r refined, with subsistence allowance systems set to be optimized, the statement said.
The meeting also called for full implementation of requirements set in the Ce
ntral Economic Work Conference, the annual policymaking meeting held in December.
The meeting urged an even more proactive fiscal policy and full implementation of tax and fee cuts.
Monetary policy will be eased or tightened to the right degree, and
it will be adjusted in accordance with economic growth and real-time inflationary and pricing
scenarios, the statement said, adding that financial support for the real economy will be bolstered.
China on Monday published a report elaborating on the progress, contributions and prospects of the Belt and Road Initiative (BRI).
The document, prepared by the office of the leading group for promoting the BRI, was released ahead
of the second Belt and Road Forum for International Cooperation to be held from April 25 to 27 in Beijing.
The Belt and Road Initiative is an initiative for peaceful
development and economic cooperation, rather than a geopolitical or military alliance, said the rep
ort. “It is a process of open, inclusive and common development, not an exclusionary bloc or a ‘China club’.”
“It neither differentiates between countries by ideology nor plays the zero-sum
game. Countries are welcome to join the initiative if they so will,” according to the report.
The BRI has turned ideas into actions and vision into reality, and i
tself into a public product widely welcomed by the international community, the report said.
than 150 countries, including 37 heads of state or government, for the thre
e-day event starting on Thursday, Wang said, adding the forum, themed “Belt and Road Coop
eration: Shaping a Brighter Shared Future”, aims to bring about high-quality cooperation under the initiative.
President Xi Jinping will deliver a keynote speech at the op
ening ceremony of the forum, and chair the leaders’ round-table summit, Wang said.
Saying the BRI has delivered real benefits to participating countries, Wang stated the hats like “debt traps” cannot be put onto t
he head of the Belt and Road, and this is not something any participating country would recognize.
He added that international communities should base their understandings and comments about the BRI on the facts.
Trade volume between China and the countries participating in the B
RI has exceeded $6 trillion, the number of investment is over $80 billion and arou
nd 300,000 jobs have been created for the people from the countries involved in the initiative, Wang said.