Central bank vice-governor voices confidence amid currency volatility
The monetary authority vowed to stabilize the renminbi amid escala
ted trade tensions, while continuing to push forward financial opening-up and pr
otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.
“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma
rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi
ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.
Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do
llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h
September, 53 people in the company were transferred for examination and prosecution.u’an, a county in
China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun
Emerging fields including online lending, investment, pension services, consumer reb
ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.
Since the collapse of P2P online lending platforms beginning last Jun
e, public security authorities have investigated and handled more than 400 illegal fun
draising platforms and arrested more than 60 fugitives from 16 countries and regions.
“To grab excessive profits, the criminals keep changing and upgrading their criminal
methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”
The Central Conservatory of Music will hold a festival from May 23 to 27 to celebrate the 80th anniversary of The Yellow River Cantata.
Written by composer Xian Xinghai (1905–1945) in Yan’an, Shaanxi pro
vince, in early 1939, the piece was inspired by a patriotic poem by Guang Weiran, and the lyrics
were adapted for the cantata. Premiered on April 13 of the same year in Yan’an, the work became, and remains, popular.
The conservatory’s symphony orchestra, choirs and chamber music grou
ps will join in the festival with 20 concerts, including the opening concert on May 23 condu
cted by Yu Feng, president of the university. The Yellow River Cantata will be performed by young singers.
Veteran Chinese musicians and singers, including Guo Shuzhen and Wang Xiufen, will perform during the festival.
Besides concerts, masterclasses and forums will be held in Yan’an.
The music festival will also celebrate the 70th birthday of the country.
China officially launched the “no-waste city” pilot program in 16 area
s on Monday as it steps up efforts to recycle its increasing waste stockpile.
The pilot program covers the entirety of 11 cities, including Shenzhen, Guangdong pr
ovince, and Weihai, Shandong province, and sections of the other five cities.
The central government has made arrangements to offer support to
the pilot areas in policy, technology and funding, said Zhuang Guotai, vice-mi
nister of ecology and environment, at the launch ceremony in Shenzhen on Monday.
He said an expert committee has been established to guide the pilot program and
evaluate progress, and seven groups have been put in place to offer technical support.
nitiative is a challenge, but achievable,” she said, adding that at the heart of this challenge lies great potenti
al for innovation and creativity, such as new disaster risk prediction and analysis, and disaster-resilient infrastructures.
Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said dis
aster risk reduction of natural hazards along the initiative is crucial for its success and sustainability.
Regions at the heart of the initiative, such as the Tianshan-Pamir Platea
u, the Himalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serio
us disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.
Henrik Slotte, a senior disaster management expert from the UN Environm
ent Program, said poorly managed infrastructure projects can damage the ecosystem.