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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Pei was born in Guangzhou and raised in Hong Kong and

anghai, before moving to the US in 1935. He studied at the Massachusetts Institute of Technology and Harvard’s design s

chool, and spent the early years of his career designing buildings for a real estate developer in New York.

Pei is known for his affection towards precise geometry and design details. He also ha

d a strong reverence for light, as shown in the famous pyramid of the Louvre Museum.

His significant works include the Jacob K Javits Convention Center in Manhattan (1979 to 1986), the Morto

n H Meyerson Symphony Center in Dallas (1982 to 1989), the Bank of China Tower in Hong K

ong (1982 to 1989), and the Museum of Islamic Art in Doha, Qatar (2003 to 2008).

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In Forbes’s ranking, 309 of the world’s top 2,000 largest publ

 public companies are from the Chinese mainland and Hong Kong.

The United States has 575 companies, the most among the 61 countries and regions involved in the ranking.

Japan is third-largest contributor, with 223 companies joining in the list.

This year marks the 17th release of the Global 2000 ranking since it was first published by Forbes in 2003, when the Unite

d States was home to 776 companies in the list while the Chinese mainland and Hong Kong only had 43.

Industry-wise, banks and diversified finance make

up most of the list, with 453 companies appearing on it, followed by tech ind

ustry and construction industry, with 184 and 123 companies on the list, respectively.

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Digital tech applications creating jobs for women, engineer

merging jobs related to the digital economy have been and are expected to continue gro

wing quickly in China as digital technology is applied in more fields, said a senior executive from LinkedIn.

New media operators, front-end development engineers, algori

thm engineers, user interface designers, and data analysts were the top five profes

sions with the fastest growing number of practitioners in China on the US-based professional networking site fro

m 2013 to 2017, said Lu Jian, president of LinkedIn China in an exclusive interview with China Daily.

“Digital economy, which has become part of the national strategy, is just unfolding in the country. It won’t surprise us if such jobs con

tinue to draw employees of both genders and in both urban and rural areas in the coming years,” Lu said.

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Now that it has reached middle-income status, China’s eco

nomic strategy will focus on creating a highly competitive domestic market that forces com

panies to produce high-value goods so they can pay high wages to highly skilled people.

Because of its long experience in manufacturing, much of tha

t push will be focused on higher value-added production, using the new technologies of r

obotics, artificial intelligence, the internet of things and 5G. This is the only way to avoid the middle-income trap.

The reform and opening-up policies are exactly the kinds of market-driven reforms

needed to make this happen. The Chinese government is investing heavily in research and development, but it sho

uld be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

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Uber has also weathered controversies including revelati

ions of a culture of sexism and bullying at Uber and US Department of Justice investigations. After a series of embarrassments, Kalanick was forced to res

ign in 2017 by a group of investors. Uber then hired Khosrowshahi to lead the company.

Uber has said it has the potential to grow not just in the cab hailing business, but also as a “sup

erapp” to provide logistic services, such as grocery and food delivery, organizing freight tra

nsportation, and even financial services, much like Grab, its Southeast Asian counterpart.

But market experts have struggled to find value in a company that has consistently posted los

ses, and warned that it may never be profitable. “The business is unprofitable, new entrants can enter the ma

rket, there is potential regulatory risk, and it is very price sensitive. What is there to like about this opportunity?” Ro

bert Johnson, professor of finance at Heider College of Business, Creighton University in Omaha, Nebraska 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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Not only are there missing links on the causality chai

 between long-term structural factors and actual economic performance, it is also unclear how long those factors would take to constrain GDP growth to a part

cular level. In fact, 20 years ago, the same long-term factors were used to warn of a possible fall in Chinese GDP growth.

Because of the complexity of China’s growth trajectory, many economists seem to base their assessments of potenti

al on performance. After every drop in China’s GDP growth since the second quarter of 2012-when growth fell be

low 8 percent-economists have emerged to declare that performance was in line with potential.

Difficult to determine potential growth rate

To be sure, there are various estimates of China’s potential growth rate, ranging from 5 perc

ent to 8 percent. But it is difficult to determine which is reliable. For one thing, there is reason to believe that

most estimates fail to discount cyclical factors adequately when calculating the long-term trend.

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teps aimed at helping further develop countryside opt

hina will undertake key measures to further integrate the country’s rural and urban areas

and encourage the transfer and free flow of people and resources throughout the nation.

Measures include relaxing hukou (household registration) barri

ers, reforming zoning regulations for rural and residential land, marketing collective land

in rural areas for development purposes and increasing infrastructure spending in the countryside.

Experts said the new plan, announced by the Communist Party of China Ce

ntral Committee and the State Council late on Sunday, is aimed at helping realize steady progr

ess in rural revitalization, driving up the process of urbanization and further boosting the economy.

China has a three-step plan. First, it will initially build a framework an

d mechanism for integrated development of urban and rural areas, and gradually rem

ove limits on hukou registration in cities by 2022. Second, it will bring about an improved framewo

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Embrace exhibition through greener lifestyle at the

The Beijing International Horticultural Exhibition opened just two days before the May holiday, giving

the public a close-up view of state-of-the-art gardens created by horticulturists from around the world.

China hosted a similar exhibition in Kunming, Yunnan province, in 1

999. In the two decades since, the social and economic situations in China have unde

rgone tremendous changes. A growing awareness of environmental protection is one of them.

Two decades ago, the Chinese people embraced the Kunming horticu

ltural show as a novelty and curiosity because the countr

y at that time did not have many opportunities to host large international gatherings.

Economic development at the time was the top priority of the country,

which explains why the news media were so interested in reporting that 15 billion yu

an ($2.23 billion) in economic and trade deals were inked during the exhibition.

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