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China has less motivation to further stimulate economic growth, but the government needs to search for more me
thods to control debt and reduce default risks, according to officials and economists.
China’s macroeconomic leverage ratio, or the total debt-to-GDP proportion, rose slightly in the first quarter, but the overall leve
rage level still remained stable, Huang Xiaolong, deputy head of the Financial Stability Bureau of the P
eople’s Bank of China, the central bank, said at a media conference on Wednesday.
Recent research from the Chinese Academy of Social Sciences s
howed that by the end of March, the macro leverage ratio climbed to 248.83 percent from 243.7 p
ercent in 2018, as the government utilized several easing policies to support GDP growth in the first three months
technologies that it enables, are harnessed for the benefit of mankind while minimizing the risks to develo
pment, peace and security and human rights,” Guterres said in a congratulatory letter to the expo.
Miao Wei, minister of industry and information technology, said China has already made signif
icant progress in bolstering the big data industry with a string of big data platforms established in sec
tors such as manufacturing, commerce, finance, transportation and medical care.
“We will make a fresh push to integrate cutting-edge information technologies into the real econo
my, including establishing a national industrial data center, to better power the country’s sp
rawling manufacturing sector,” Miao said at the opening ceremony of the big data expo.
According to the ministry, China’s digital economy reached a total volu
me of over 31 trillion yuan ($4.5 trillion), or 34.8 percent of its GDP, in 2018.
industries develop fast, and new sectors have been emerging, such as unmanned warehousing, facial recognition payments and new online-to-offline groceries.”
Meng also said that a new version of the nationally unified negative list for market access will be rolled out w
ithin the year. Illegal or implicit entry barriers and locally issued negative lists will be canceled, she said.
The Chinese authorities will also establish and refine mechanisms for adjusting the annually released
list when necessary, she said, adding that the list will better cope with the reforms to delegate power, streamline ad
ministration and optimize government services, and will better meet the needs of market entities for broader access.
Wang Yuanhong, deputy head of the Department of Economic Forecas
ting at the State Information Center, said the fast growth of high-tech industries and the
service sector reflects the ongoing upgrading of traditional industries and the optimization of C
countries should be mindful of these projects’ impact on the environment and inhabitants.
“It is encouraging that the government of China is taking proactive measures to ensure tha
t the development of the Belt and Road Initiative is risk-informed and sustainable,” she added.
“Disaster-proofing the world’s largest infrastructure initiative is a challenge, but achi
evable,” she said, adding that at the heart of this challenge lies great potential for innovation and creativity, suc
h as new disaster risk prediction and analysis, and disaster-resilient infrastructures.
Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said disas
ter 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 Plateau, the H
imalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serious
disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.
With participants from 86 countries and regions, this year’s event attracted nearly 5,800 industry insiders from 2,645 companie
s and organizations, who signed 1,368 deals and cooperation agreements worth up to 14 billion yuan.
A report released during the festival says Chinese cinemas screened 34 domestic animated features that grossed 1.62 billi
on yuan in total in 2018, a rise of 13.3 percent on the output and a 24.5 percent increase in revenue, respectively, compared to 2017.
For many international filmmakers, China‘s expanding cartoon and animation industry has gripped their attention.
“I think Chinese animation production is already headed in a great direction,” says Joe D’Am
brosia, senior vice-president of original programming and general manager of Disney Junior.
As one of the guest speakers of the festival’s master classes, D‘Ambrosia joined Disney in 2011 and has played a cr
ucial role in steering the company to the top of preschool TV networks in the United States consecutively from 2013 to 2018.
Socheat Chea, a Cambodian student with big dreams, wouldn’t attract much attention if he
walked down a street in his country since he doesn’t talk a lot and is a bit shy around strangers.
His classmate, Edgar Moreno Pena, who is from Venezuela, is more adept at socializing. He has
a vocabulary of more than 200 Chinese words, tells shopkeepers on Beijing streets pia
nyidian (give me a bigger discount) and uses Chinese-language food-delivery apps on his mobile phone.
“I often do shopping at Taobao and JD,” he said, referring to China’s two most popular online shopping websites.
Although the two foreign students have few similarities in their perso
nal backgrounds, they share a common goal at the Shenzhou Institute in northern Be
ijing: They are trying to learn from Chinese teachers how to design, build, operate and maintain satellites.