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roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.
Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest
ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg
ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.
Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing
hua University, said China “should be more confident” in accelerating opening-up of its financial sec
tor, which will help global investors seize numerous opportunities in the Chinese market.
Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv
ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.
revenue collected by the US government through hefty tariffs on Chinese imports, has been paid almost entirely by US importers.
“Some of these tariffs have been passed on to US consumers, such as those on washing machines, wh
ile others have been absorbed by importing firms through lower profit margins,” the research said.
Any further increase in tariffs will likely be passed through to consumers, it said.
China and the US, the world’s two largest economies, have been embroi
led in a tit-for-tat trade confrontation over the past few months. Washington threatened to fur
ther escalate a tariff war and increased tensions by tightening restrictions on Chinese companies.
Earlier this month, the US raised tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, and China took coun
termeasures. Then the US administration listed about $300 billion more of Chinese goods for possible tariff hikes.
including existing ski resorts and some newly built projects, to host all eight Olympic snow sports
in 2022. The three clusters will be connected by a new high-speed railway, which will be completed by t
he end of this year. It looks beyond the Games to boost future winter sports tourism.
According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the f
irst test event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.
About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hecta
re forest reserve has been built nearby for transplantation of all the trees affected by the construction.
“The preparations are ready to step up to the next stage, from planning to
the readiness phase. Beijing is ahead in the race against time,” said Liu Yumin, dire
ctor of the planning, construction and sustainable development department of the 2022 Olympic Organizing Committee.
powerplants, human performance, weather, airports and other ar
eas,” the agency said, adding that it expects to brief the media later in the day.
The plane, chartered from Miami Air International, was attemp
ting to land at about 9:40 pm local time amid thunder and lightning when it slid off the runway and
came to rest in the shallow water of the river, authorities and passengers said.
The military base is on the western bank of the St. Johns River about 8
miles (12.87 km) south of central Jacksonville, about 350 miles (563.27 km) north of Miami.
Miami Air International is a charter airline operating a fleet of the Boeing 737-800, diffe
rent from the 737 MAX 8 aircraft that has been grounded following two fatal crashes involving that plane.
Representatives of the airline did not immediately reply to requests for comment.