Regulator issues guidelines to make loan renewal easier

he China Banking and Insurance Regulatory Commission Beijing Office announced on Thursday it has issued guidelines for banking institutions on re

newing micro and small business loans to shorten the financing chain and reduce financing costs.

The guidelines aim to cut unnecessary so-called “passageway business” a

nd bridging finance that “bridges” the gap between the time when a company’s m

oney is set to run out and when it can expect to receive an infusion of funds later on, under the premise that banking in

stitutions will meet the requirements on internal control and risk management.

“The loan renewal policy is actually a credit policy to incentivize lending to high-quality enterpri

ses,” said Jiang Ping, a senior official at the China Banking and Insurance Regulatory Commission Beijing Office.

“For companies that have run into temporary operational difficulties but still have enormous potential for development, banks should help them get th

rough the tough times by renewing their loans. However, banks are forbidden from covering or delaying risk ex

posure associated with lending to ‘zombie firms’, which cannot repay loans, in the name of loan renewal,” she said.

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hina has become the biggest owner of AI patents, follo

wed closely by the US and Japan, the report revealed. The three countries own 74 percent of all issued AI patents globally.

The CISTP report noted that while China has the world’s secondlargest AI talent pool, it has a lower percentage of top talents.

By the end of 2017, China had amassed more than 18,000 AI specialists, behind only the US. But, Ch

ina had only 977 top-tier AI specialists, just one-fifth of the number in the US, ranking sixth globally.

“China’s strengths are mainly shown in AI applications and it is still weak on the front of core techn

ologies of AI, such as hardware and algorithm development,” the report noted. “China’s AI de

IJING – China’s new yuan-denominated loans stood at 3.23 trillion yuan ($477 billion) in

January 2019, up 328.4 billion yuan year-on-year, central bank data showed Friday.

velopment lacks top-tier talent and has a significant gap with developed countries, especially the US, in this regard.”

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Hulu has a special treats on offer for Valentigy eases travSpri

During this year’s Spring Rush (or chunyun), which started on Jan 21 and will end on March 1, Chinese people are expected to make about 2.99 billion trips. Th

is is equivalent to relocating the entire population of Africa, Europe, the Americas and Oceania in 40 days.

That China successfully manages the largest mass migration in the world shows the Chinese e

conomy remains vibrant and the country is moving toward overall prosperity. According to statistics from relevant de

partments, China’s total passenger transport capacity, including the railways, waterways and civil a

viation, during the 2019 chunyun is expected to increase by more than 5 percent over last year’s. Which means C

hina’s transportation authorities have made great efforts to optimize and improve passenger transfer services.

For passengers’ convenience, the authorities are widely applying smart and information tech

nologies to promote closer cooperation among the railways, civil aviation and road networks, and str

engthen the links among different transport modes, in order to provide the passengers with better “last-mile” services.

Hainan Island Circular High-Speed Railway has taken the lead in piloting e-ticket rail travel. The Haina

n railway project is aimed at replacing paper tickets with e-tickets, and making identity cards or certificates the travel vo

ucher, in order to establish a self-service entrance and exit, and self-service ticket change and refund mechanisms.

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nside the workshop of Jilin province’s ‘last blacks

Tian Hongming, 67, has been dubbed the “last blacksmith by the fire” by the people of Changchun, capital of northeast China’s Jilin province.

Having picked up the skill of forging iron at the age of seven from his grandfather, Tian has made a living from the skill for more than half a century.

In the 1990s his business reached its peak, selling more than 80,000 iron products a year, Tian said.

With increaed industsrialization and the cheaper and more intricate iron products it brought however, Tian and his workshop went into decline.

Although fewer customers now choose handmade iron products, Tian sticks to the traditional craft and takes every order seriously.

In 2015 his skill was listed among the city’s intangible cultural heritages.

“Sometimes, the flow-line productions can’t meet the special needs of custo

mers, so the craft will never be replaced,” he said. “And I will continue my business as long as the market and customers need me.”

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New regulations will target abnormal trademark filings

In a bid to improve the nation’s business environment, the China National Intellectual Property Administration will roll

out a new set of regulations on trademark filings to curb the “applications out of malice”.

The regulations draft has been publicized on the CNIPA website, soliciting suggestions and opinions from the public until March 14.

The move reflects a shift in policymakers’ focus from intellectual property quantity to quality, s

aid Li Shunde, a senior IP researcher at the Chinese Academy of Social Sciences.

Comprised of eight articles, the new regulations target “abnormal applications”, such as trademark sq

uatting, imitating established brands and filings with no intentions for actual use in industry or business.

The regulations, once they take effect, will also come as a severe blow to tradema

rk speculators, who apply for and stock trademarks for trade rather than industrial or business use.

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education authorities monitor Zhai Tianlin probeorities in B

Education authorities in Beijing have launched an investigation into actor Zhai Tianlin, who has received high-profile plagiarism allegations.

The Education Work Committee of the CPC Beijing Municipal Committee and Beijing Education Commission have sent an investigative team to the Beijing Film Acad

emy, where Zhai obtained a Ph.D., to look into the case, the university said in a statement on Thursday.

Zhai, 32, is also a postdoctoral candidate at Peking University. He found himself in hot water on social media after a Sina Weibo blogger accused him of plagiarism last week.

The university launched its own investigation on Monday. It has finished prelim

inary evidence collection and notified Zhai about the investigation, the statement said.

The university has zero tolerance for academic misconduct and will look into other matters uncovered by netizens.

Zhai raised a flurry of chatter online in August when he said in a live video appearance he did not know what the China National Knowledge Infrastructure w

as. CNKI is the largest and most widely used online academic library in China for university students writing theses and dissertations.

The post by the Sina Weibo blogger claimed one of Zhai’s papers published in an acade

mic journal was uploaded to CNKI and the similarity score for the 2,783-word article was 40.4 percent.

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He said the buyers assumed the housing price in January wo

ie Yifeng, president of the Realty Association of Asia-Pacific Cities, said the sliding sales

in January were due to seasonal factors and should not be regarded as a market trend.

“The Spring Festival was the main reason,” he said. “Property developers were not passionate about selling new proj

ects during the holiday, and it was not very realistic for banks to release housing loans before or during the holiday.”

“A significant index was the registered sold property on the government’s website, but government employees were on

a break too and the statistics of sold property registered on the government’s website were not getting a timely upd

ate,” he said. “The real statistics from last December to January will gradually start to be updated in March.”

In fact, Xie predicted the market in 2019 would be better than last year, as he said the real market indicators were the rising land prices and the amount of land sold.

“The decisive factor is the government’s decision on the shantytown redevelopment policy,” he added, pointing

out that this was expected during this year’s session of the National People’s Congress in March.

Zhang Bo, chief analyst at the 58 Anjuke Institute, said apart from buyers being skeptical tow

ard the price, the weakening intention for speculation was another factor contributing to the slow sales in lower-tier cities.

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Imax shatters Chinese New Year opening box office record

Imax box offices set a new record over the Chinese New Year period starting on Feb 5, grossing 217 million yuan ($32.3 million) across its 599 theaters in China.

Imax Corporation and Imax China said in a news release on Feb 11 that the results were driven by the

strong performances of three local-language films – The Wandering Earth, Crazy Alien and Peg

asus. The sales figures marked Imax China’s best Chinese New Year performance ever, up 40 percent year-on-year.

The Wandering Earth, China’s first big-budget sci-fi film, led the pack by grossing more than

185 million yuan in Imax theaters to become the highest grossing local-language film in Imax hi

story, surpassing Mojin: The Lost Legend. Imax screenings accounted for more than 9 percent of the film’s gross ov

erall takings. The film also set new Imax records for the biggest opening week, surpassing Avengers: Infinity War, as

well as the biggest single day and best three-day performance for a local-language title.

“We are very pleased with these record-breaking Chinese New Year results, which are particularly significant when com

pared to 2018’s record performance that was up 80 percent over the previous year,” said Imax CEO Richard L. Gelfond.

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WTO should play bigger role in global governancetate Coun

reign Minister Wang Yi has called for the World Trade Organization to play bigger role in global governance.

Wang made the statement at the 18th session of the consultations of the coordinators for the China-France Stra

tegic Dialogue with Philippe Etienne, foreign policy advisor to the president of France, in Paris on Thursday.

Wang highlighted China’s position in upholding multilateralism and the rules-based multilateral trading system with the WTO at the core.

Noting China supports for the reform of the WTO to increase its authority and efficiency, Wang said the core value and b

asic principles of the WTO as well as the direction of trade liberalization should remain unchanged.

The WTO reform should follow the practice of decision-making by consensus, and c

annot be dictated by a few, nor decided by an exclusive small group of Members, he noted.

Wang called for safeguarding the special and differential treatment for developing members in the

WTO reform, saying France should objectively treat China as a developing country.

Priority should be given to the resolution of the issue of Appellate Body member appointment blockage, he said.

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In Foxconn’s case, the average salary it promised isviously l

ower than the average salary for engineers in the state, which is about $60,000. In addition, having employees work 50-60 hours a week would be difficult.

“The US educational system is probably not even generating enough for the current deman

d in the United States with the economy strong and high-tech industry developing well,” said Jason Dedr

ick, professor at the School of Information Studies at Syracuse University.

“You already have a lot of companies, Google, Facebook, Amazon and so on, com

peting for those engineers. Apple or rather its suppliers, will be trying to hire en

gineers in a market that’s already pretty tight. It would not be really easy to do that hiring really quickly,” he added.

 engineers, the college plans to expand their enrollment from around 4,500 to 5,200 in

the next few years. But after graduation, how many of the students will be hired by Foxconn is hard to say.

Robertson said many companies in need of e

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