Easing likely with slowing of economiespected to move

na may move more toward monetary easing, joining a group of other major economies prone to dovish policy typified by more accommodative measures that stimulate growth, analysts said.

This comes at a time when global central bank governors have become more concerned about an economic slowdown and put tightening measures on hold.

Central bankers in the United States, European Union, Japan and Oceania have had a change in

mood in the past month, given worries that a too tight monetary environment may not cushion the

ir economies from shocks from trade tensions, Brexit and financial vulnerabilities. They sounded the alarm ov

er global uncertainties after the International Monetary Fund downgraded its forecast of the world’s economic growth in January.

With bank governors delivering dovish speeches one after another, the Chinese mo

netary authority is considering an adjustment to financial institutions’ “act

ual” lending rate for companies in order to remove the “obstacle” that constrains credit flowing into the co

untry’s production sector, according to Sun Guofeng, head of the PBOC Monetary Policy Department

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The central bank will eliminate that interest rate margin

sooner or later, and guide commercial banks to lower lending rates closer to a market-determined level, Sun said.

“Theoretically, there is room for rate cuts of 1 percentage point,” said Zhang Tao, a

n analyst in the financial market department of China Construction Bank.

China has enacted both monetary and fiscal policies to offset downward pressure on eco

nomic growth this year. Some economists have predicted the growth rate may slip in the first quarter be

low the 6.4 percent of the past three months of 2018 because of factors such as trade tensions.

US Federal Reserve Chairman Jay Powell decided on Jan 30 to shelve a plan to keep raisi

ng interest rates because of possible risks to US growth. The European Central Bank stopped exp

anding quantitative easing and warned about the negative results of Brexit.

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hina has seen 4.8 percent yearly growth in foreign dire

rect investment in January, and its high-tech service industry has seen the most dramatic increase in the use of foreign capital.

According to Ministry of Commerce data released Thursday, the country has attracted 84.18 bil

lion yuan ($12.41 billion) in FDI in the first month of 2019, up 4.8 percent year-on-year.

Foreign capital flowing to the country’s high-tech service sector in January has mo

re than doubled compared to the same period in 2018, reaching 15.77 billion yuan.

The total FDI used in the manufacturing industry has also climbed by 5 percent y

ear-on-year, totaling 26.7 billion yuan. The service sector has used 56.2 billion yu

an in FDI, up 5.1 percent, and the high-tech industry has seen a 40.9 percent yearly growth of FDI used.

FDI from the United States has seen a staggering 124.6 percent year-on-year growth.

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Airbus to scrap production of A380 superjumboys its prowe

TOULOUSE – Europe’s Airbus announced plans to scrap production of the A380 superjumbo on Thursd

ay, abandoning its dream of dominating the skies with a cruiseliner for the 21st century after years of lacklustre sales.

The world’s largest airliner, with two decks of spacious cabins a

nd room for 544 people in standard layout, was designed to challenge Boeing’s legendary 747

but failed to take hold as airlines backed a new generation of smaller, more nimble jets.

Airbus said in a statement that the last A380 would be delivered in 2021.

Confirming a shake-up first reported by Reuters, it said Emirates – the largest A380 cust

omer – had decided to reduce its orders for the iconic superjumbo and order a total of 70 of the smaller A350 and A330neo models.

The European company said it would enter talks with unions in coming weeks over the 3,000-3,500 jobs potentially affected.

Airbus will produce 17 more of the planes including 14 for Emirates and 3 for Japanese airline ANA.

As part of the restructuring, Emirates placed a new order for 40 A330-900neo jets an

d 30 A350-900 aircraft, partially restoring a purchase of A350 aircraft which it cancelled in

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He anticipated that the plan would further connect the

echnology sectors of Hong Kong and the mainland, facilitating more career opportuniti

es for Hong Kong local talent as well as offering a larger market for knowledge transfer.

Tam Yiu-chung, a Hong Kong member of the Standing Committee of the National People’s Congress, the country’s top legislat

ure, estimated that the plan would lay out development priorities for the area, and the key tasks each city should carry out.

Hong Kong will thus have a clearer direction for future development, and better understand how it can fully contribute, Tam said.

The Greater Bay Area encompasses Hong Kong and Macao, as well as nine cities in Guangdon

g province: Guangzhou, Shenzhen, Zhuhai, Dongguan, Huizhou, Zhongshan, Foshan, Zhaoqing and Jiangmen.

In 2017, the 11 cities produced one-eighth of China’s gross domestic product while containin

g only 5 percent of the nation’s population and only 0.6 percent of China’s total landmass.

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Such a hegemonic mentality actually poses a threat to the

 world’s peaceful exploration of space and the peaceful exploitation of it for the benefit of all people on Earth.

It is with this mentality that the report catalogs and details supposed threats Russia and China may pose to the US in space.

For the US, there is no justice and fairness when it comes to its relations with other co

untries, especially when it assumes that its dominance in a particular area is being challenged.

Those who have written the report have listed threats that are anything but real. The

US assumptions about the threats only serve to justify what it wants to do. I

n other words, the US is only making a case for maintaining its dominance in space technology.

The “Space Force” the US administration has proposed, which will see huge amounts of reso

urces devoted to pushing the US military capabilities in space, is what it really intends to achieve by p

ositing that other countries with space technology pose a threat to its national security.

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China-US space cooperation would likely to prompt more

countries to join hands to develop space instead of choosing between China and the US, especially because after the end of the Cold War, international space cooperation has increased.

In fact, the International Space Station launched in 1998 has been operating thanks to the cooperat

ion between the US, Russia, Japan, some European countries, Canada and Brazil. The four maj

or satellite positioning systems — GPS (US), Beidou (China), GLONASS (Russia) and Galileo (Europe) — may also comple

ment each other to provide the most accurate positioning services. And once China and the US engage in a major sp

ace project, many other countries will join in and thus take space exploration to a new stage.

Sino-US space cooperation will stimulate the development of relevant industries and bring tangible benefits to the people. Space explora

tion will set in motion a series of space industries such as manufacturing, agriculture, resources, e

ergy and tourism. These may become new sources of growth for the world economy, promote industrial techn

ologies, and help address some global challenges such as climate change and energy depletion.

And the new products and services so generated will improve people’s lives and contribute to social progress.

www.113xe.cn

Holiday week spending over 1 trillion yuannd day of the Chin

Chinese consumers opened their wallet during Spring Festival, not only on things like digital home appliances and importe

d fresh food but also on experiences such as travel and entertainment, government figures showed.

Shopping, dining out, travel and entertainment accounted for most of the consumer spending during the week-long hol

iday. Analysts and officials said the strong domestic demand will inject further growth momentum into the eco

nomy in 2019 as the government unveils more policies to spur consumption.

Spending on retail and food services during the Spring Festival period, from Feb 4 to Sunday this year, exceeded 1 trilli

on yuan ($147.41 billion) for the first time, up 8.5 percent year-on-year, according to the Ministry of Commerce.

The ministry said a key term for Lunar New Year holiday spending was “seeking higher quality” as the government’s em

phasis on upgrading consumption continues. Emerging areas for spending such as the internet, customized pr

oducts, experiences, digital products and services were growth areas during the holiday.

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The post by the Sina Weibo blogger claimed that one of Zha

i’s papers published in an academic journal, was uploaded to CNKI and the similarity score for the 2,783-word article was 40.4 percent.

Another post by the same blogger claimed that Zhai’s doctoral graduation dissertation

could not be found in the CNKI database, while all the graduation dissertations written by his classmates could be found there.

The posts stirred a heated debate among netizens, with many saying academic misconduct

was unfair to students who had worked hard to obtain a degree. They have called for strict rules to curb such behavior.

“For someone with a PhD, how could he not know what the CNKI is? And how could he have never used it for referencing academic works?” one netizen wrote.

“I was only joking when I said that I did not know what CNKI was,” Zhai wrote in response

to the post. “Will anyone believe me if I said that I do not know one plus one equals two?”

Zhai’s studio said on Friday that he obtained a PhD from the Beijing Film Academ

y in June, and all his academic papers and his dissertation were written by him under the guidance of supervisors.

He has met all graduation requirements from the academy and is willing to be held responsible for any academic misconduct, the studio said.

Peking University declined to comment when contacted by China Daily on Monday.

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Despite the deterioration in conditions, the abundance of apartm

ents and relatively low prices continue to attract young and first-time buyers, as

well as tenants. Sp

eaking in a range of accents, a substantial number of residents squeeze

into buses and the subway every morning and head to work.

Chen Mo is one of them. After studying in the capital for seven years, he chose to

settle in the city

after graduation. In 2001, he took a job with State Grid Corp, the national

electricity generator.

Initially, Chen rented an apartment in

Huilongguan, a crowded community in Changping district,

10 kilometers west of Tiantongyuan’s center, that was well-known for its

affordable property.

Served by subway line 13, Changping’s relative ease of access to public

transportation attracted Chen, so he decided to buy an apartment there in 2010.

After months of research, he discovered that he could buy an apartment of more than 100 sq m in Huilon

gguan for 30,000 yuan per sq m, which would only be enough for a home of 50 to 60 sq m in other parts of the city.

“Property prices doubled in Huilongguan in just six months, so I made the down

payment in 2011 without any hesitation,” he said.

Many others followed suit, so a dense population and heavy traffic congestion quickly became the community’s default setting. Ho

wever, without any industry to provide jobs and with few high-quality schools,

many people chose to leave once they had made enough money.

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