The global credit rating agency Moody's called China's newly-issued regulations on peer-to-peer lending platforms are "credit positive". [Photo/IC]
The free flow of capital under ultra-low interest rates has led to a housing price boom in Hong Kong, making it the world's most expensive city to live in, measured by housing price-to-income ratios. Between 1997 and 2017, the median monthly salary of Hong Kong's employees in the age group 25 to 29 increased less than 50 percent, from HK,000 (,400) to HK,000, but the price index of small to medium-sized apartments almost doubled in Hong Kong between 2008 and 2017. Now an average family has to save for around 21 years without spending a single dollar to buy a home in Hong Kong, compared with less than five years in Singapore.
The government will refine review methods and encourage market regulators to enforce the review mechanism together with policymaking departments before new policy measures are rolled out by local governments, the guideline said.
The government of the Hong Kong Special Administrative Region on Monday strongly denounced escalated and repeated violence by radical protesters after further conflicts in the heartland of the city on Hong Kong Island.
The fully submersible aquaculture facility, 35 meters tall and with a volume of 50,000 cubic meters, lies 20 meters below the surface of the Yellow Sea, about 240 kilometers off the coast of Rizhao, Shandong province.
The government launched a huge campaign to shut down workshops operating without a business license, enlisting every government department and the public to root out any violators. Often, they inspected workshops at midnight to catch clandestine polluters red-handed.
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The government aims to embark on a number of SME capacity-building endeavors, including the establishment of 10 enterprise development vehicles and organizing entrepreneur competitions to foster innovation. Through such efforts, the city is looking to recognize 5,000 SMEs as with leading technologies.
The fourth misconception is that China's market is closed to foreigners. Again, that is not true. The national government has long been pushing a series of reforms to welcome foreign firms. In many cases, the government actively encourages foreign companies whose competition and advanced technology will force local firms to up their game.
The government has urged regions deemed at low risk from the contagion to lift their control measures, a senior official said on Saturday.
The global economy is facing a long recovery from the novel coronavirus pandemic, according to economists from China and the US, with one saying the crisis "is going to have a long, dark tail".