In the report he delivered at the opening of the 19th National Congress of the Communist Party of China on Oct 18, General Secretary Xi Jinping said that as a result of the transformative changes that have been made during the past five years, the country is better prepared than ever before to take on the challenges in the new era.
Developments over the past few days reveal the broadening consensus among the members of the Association of Southeast Asian Nations and China that they, and they alone, are ones who should get their maritime house in order, and they are fully capable of doing so.
By integrating itself into the global economy, China has realized leapfrog development over the past nearly four decades since the reform and opening-up policy was launched. This may explain why President Xi Jinping reiterated China's adherence to opening-up as a basic State policy at the recent Asia-Pacific Economic Cooperation CEO meeting.
AT A NEWS CONFERENCE in Beijing on Friday, China's vice-finance minister said that China will increase the share ceiling for foreign investments in securities, capital, futures and asset management companies from 25 percent to 51 percent, and abolish the upper limit in three years. Beijing Youth Daily comments:
ACCORDING TO ONE VETERAN ENTREPRENEUR, the average "shelf life" of a Chinese enterprise is about five to eight years, meaning that entrepreneurs must strive to improve their management as early as possible to break that cycle. Beijing Youth Daily commented on Monday:
THIS YEAR'S NOV 11 annual online shopping spree has ended, and one e-commerce platform after another has announced their sales reached record-high. Yet behind that there is hidden risk, comments Beijing News:
US President Donald Trump will conclude his extended visit to Asia on Tuesday, during which he has visited Japan, the Republic of Korea, China, Vietnam and the Philippines. But of all the countries on his itinerary, his three-day visit to China has been the highlight of his first trip to Asia as US president.
E-commerce and e-payment, two of the "four new inventions of China", reached a new peak this year as the Singles Day sales on Nov 11 reached 253.97 billion yuan ($38.2 billion). China's "new inventions" can be more accurately described as "innovations", because there have been similar inventions in foreign countries before.
Two recent but separate developments show the Chinese authorities' resolve to expedite measures to curb financial risks after the 19th National Congress of the Communist Party of China.
This time last year, as the world was coming to terms with Donald Trump winning the US presidential election, Europeans and Chinese worried about the president-elect's provocative rhetoric and what he would do in office.
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