Unlike some other major economies, "China has always been very prudent" in financial risk prevention as it eases its monetary stance in its battle against the pandemic, said Li Yang, chairman of the National Institution for Finance and Development at the Chinese Academy of Social Sciences. As proof of this, the country's debts and assets still largely match each other on its financial balance sheet, he said.
Unprecedented, fast, transformative
Under the plan, Hainan will tap its characteristic resources of vast coastal areas, tropical rain forests and hot springs to cultivate innovative healthcare and leisure products, and develop a high-end and characteristic medical tourism service system.
United States-based consumer goods corporation Procter & Gamble, which has enjoyed three decades of success in China, is refreshing its development strategy to cater to the nation's increasingly demanding younger generation of consumers.
Under the deal, the group's two contractors-China Railway 11 Bureau Group Co Ltd and China Railway 23 Bureau Group Co Ltd-will build construction projects spanning 39.79 kilometers, including railway beds, bridges and railway stations for the first phase of the 250-km-long line linking the Thai capital Bangkok and the northeastern province of Nakhon Ratchasima.
Under the letter of intent, the two sides will improve mutually beneficial cooperation in such fields as economy, trade, science and technology, culture, education and sports to promote common prosperity and development.
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Under the Environmental Protection Tax Law, which targets enterprises and public institutions that discharge listed pollutants directly into the environment, companies will pay taxes for producing noise, air and water pollutants as well as solid waste.
Under the new policy, China will ban imports of 24 types of solid waste, including plastic waste, unsorted paper waste and crude textile waste, to protect public health from hazards mixed in the recycling materials.
Unlike those famous local schools in Hong Kong, Marden Foundation Secondary School has not gained much attention from the society until recent years when the Belt and Road has become one of the buzzwords following its announcement in 2013.
Under the plan, the government will further upgrade its business street along the Songhua River, which flows through the city, and boost spending on nighttime shopping, dining, tourism and entertainment.