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.
f the year until July or August, when the market may see a recovery, Xu Haidong, assistant to
the China Association of Automobile Manufacturers’ secretary-general, told the newspaper.
The reason for the slowdown in China’s automotive market lies in the lack of consumer confidence, according to CA
AM. In addition, the upcoming stricter Nation VI emission standards, market expectation for the country’s stimulating spe
nding policy and a strong wait-and-see mood, are all contributing to the bleak picture, the association said.
With the actual policy effects from tax cuts and fees reduction
s, a promising consumer market boosted by infrastructure investment, the country’s a
utomobile market will have a stable development throughout the year, said the association.
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.
refore, giving rural children a good education is an important task in poverty relief, and
also a crucial means to stop poverty from being passed on between generations,” he said.
“The poor regions are the bottleneck in building a moderately prosperous society by 2020,” Xi wrote.
While talking with students and teachers at a primary school in Zhongyi, a towns
hip in Chongqing’s Shizhu Tujia autonomous county, in April, Xi
said compulsory education is an important part of poverty eradication.
Children in impoverished mountainous regions must be guaranteed access to education, an
d they should have a happy childhood, Xi said during his visit to Chongqing. He encouraged teachers to sett
le down in such regions, dedicate themselves to education in rural areas and contribute to poverty reduction.