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China-Japan forum ends with hope

Panelists voiced hope of an early ending to what they called a "frigid winter" of China-Japan ties, as the 10th Beijing-Tokyo forum concluded on Sept 29.

The annual event took place as Sino-Japanese relations have plummeted, though the governments have shown signs of increasing liaisons over the East China Sea and historical feuds.

At the closing ceremony of the forum, co-hosted by China Daily and Japanese non-profit think tank Genron NPO, veteran diplomat Wu Jianmin - the former Chinese ambassador to France - suggested that "people should always keep hope in mind".

The Tokyo Consensus 2014, a declaration unveiled earlier in the week by the forum co-hosts, warned that the relationship is at its most critical time since it was normalized in 1972, and the public on either side have witnessed "a serious standoff".

Junko Kawaguchi, former Japanese foreign minister, reminded the Japanese public that with the 70th anniversary of the end of World War II next year, they should realize that "there is a gap existing between their understanding of Japan's wartime past and the version in the eyes of their neighbors".

Import policies revealed to assist trade balance

China has issued a package of import-boosting policies aimed at countering what is expected to be a missing of its trade targets for the third consecutive year.

One of the key steps is a readjustment in the list of government-encouraged imports, in an effort to bring more advanced technologies and key equipment parts into China.

The government will now allow companies to provide leasing on imported equipment for buyers at home, according to an article published by the State Council on its website after the meeting.

The new policies are "not only to boost imports", Premier Li Keqiang told the meeting, but also to improve China's economic structure and narrow its rising trade surplus.

Other trade-boosting policies include preferential tax policies given to imported equipment for science, research and development to encourage industrial upgrading of companies.

Businesses will also be able to book customs clearance during holidays, and customs will be open around the clock, to facilitate a better flow of goods.

Macao bonds slump with anti-graft drive

Macao casino bonds are plunging as a result of President Xi Jinping's corruption crackdown, according to Bloomberg.

The yield on Wynn Macao's notes due October 2021 jumped 93 basis points last month to touch a record 5.80 percent on Sept 29, according to data compiled by Bloomberg, while that on Melco Crown Entertainment debt due 2021 reached an all-time high of 5.61 percent.

The six biggest Hong Kong-listed Macao casino stocks have fallen by 32 percent on average this year, according to the figures.

Bloomberg noted that gross gaming revenue in Macao, the only place in China where casinos are legal, may fall this year amid Xi's anti-graft campaign. It added tour operators are offering private jets to fly high-spending Chinese gamblers to Melbourne and Las Vegas so that they can avoid the increased scrutiny in Macao.

Awards for 100 foreign experts

A hundred foreign experts from 25 countries have received China's Friendship Award - the country's top honor for achievement by a foreigner.

At a ceremony in the Great Hall of the People, Vice-Premier Ma Kai said the recipients were being recognized nationally as driving forces in economic and social development who had enhanced exchange and cooperation between China and the rest of the world.

"China provides a broad stage on which visionary people from around the world can use their talent to the full extent," said Ma.

He added that China will improve its laws and regulations regarding foreign experts, to protect their intellectual property rights more carefully.

Since 1991, 1,399 foreign experts have now been honored.

The ceremony came a day after 1,800 foreign professionals and their families enjoyed a banquet in the Great Hall, hosted by Liu Yunshan, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, to celebrate the 65th anniversary of the nation's founding.

Cities urged to help ethnic group migrants

Favorable policies will be created to help migrants from ethnic groups adapt better to life in cities, according to a statement released after a two-day national conference on ethnic affairs.

It added that China "has zero tolerance of discrimination against ethnic groups, and more efforts should be made to build favorable communities in cities for these people to fit into the environment".

Growing numbers of ethnic people who once lived in remote and mountainous areas have migrated to cities seeking a job.

The statement urged city dwellers to "make efforts to welcome people from ethnic groups and help them integrate".

The event was attended by President Xi Jinping and other top leaders, and nearly 1,500 people and organizations recognized for their contributions to ethnic harmony.

Images from advanced satellite issued

Images taken by the country's most advanced civilian satellite were published on Sept 29 as a senior official announced that an orbiting high-definition network will be created by 2020.

The images were shot by the Gaofen-2 satellite between Aug 21 and Sept 29 and show parts of cities such as Beijing, Shanghai and Harbin, as well as famous sites abroad including the Burj Khalifa, the world's tallest building, in Dubai, United Arab Emirates.

There are also images of temporary settlements in Ludian, Yunnan province, the epicenter of a 6.5-magnitude earthquake that struck in August.

Gaofen-2, launched from the Taiyuan Satellite Launch Center in Shanxi province on Aug 19, can distinguish a 1-meter-long object and photograph it in full color from 600 kilometers above the Earth, according to the China National Space Administration.

Financial reformgaining steam, says Li

Premier Li Keqiang said China would step up its financial reforms to lower the cost of lending and ensure the stability of the "real economy".

In answer to questions from global banking leaders meeting in Tianjin, Li said that the central government will widen access to financial markets to allow fair and equal competition, protect the interests of depositors by setting up a deposit insurance system and open up capital and currency markets in an orderly manner.

He said the country's financial reform has entered a new phase. It will continue to ease difficulties in lending for small and medium-sized enterprises, promote grassroots entrepreneurship and ensure the healthy and sustainable development of the economy, he said.

Li also said China's financial regulations will be improved and strengthened to root out systemic and regional risks.

The pledges were made in Beijing on Sept 26, after the 18th International Conference of Banking Supervisors was held in Tianjin.

(China Daily Africa Weekly 10/03/2014 page2)