The Chinese economy is in transition, but China’s financial

system hasn’t turned around yet. This is why private enterprises are facing difficulty in financing recently.

Small- and medium-sized enterprises have been squeezed out of the formal financing market, pushing up interest rates on informal financing.

Interest rate liberalization is crucial for the financial system to support the private eco

nomy, which will increase interest rates on formal financing and lower rates on informal financing.

It is necessary to regulate the informal financial sector, but not eliminate it. Shadow b

anking and fintech sectors do pose certain risks, but they are the meaningful products of financial liberalization.

Wang Yiming, deputy director of the Development Research Center of the State Council

We are still a developing country, with capital stock and per capita stock much lower than

in developed countries. So there is nothing wrong with stabilizing investment, which should be not seen as a sin.

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Due to the positive influence of the Beijing Olympic

sales reached an all-time high of 9.47 billion yuan ($1.397 billion) and a net profit of 1.10 billion yuan in 2010, according to the company’s financial reports. At this key point, Li-Ning took ai

m at China’s Post-1990 demographic by changing its decade-old slogan “Anything is Possible” to “Make the Change.” Ho

wever, this move didn’t strike the chord the company wanted for its rebranding. Li-Ning lost older customers, but

failed to immediately gain younger customers. In 2012, losses for the company reached 1.97 billion yuan.

Realizing its mistake, the company began reusing the old slogan in 2015, which is also the first year

it became profitable again. According to a report from Chinese magazine New Marketing, since th

en Li-Ning has focused more on digital marketing to make its products closer to street culture.

On February 2, 2018, Li-Ning made its first appearance at New York Fashion Week, grabbing the attention of the audience with clothing in r

eds and yellows, the colors of Chinese National Flag, and big Chinese characters that said “China Li Ning.”

The theme of the show was xing, which means go or walk in Chinese, but also has the additional mean

ing of “we can do it.” Featuring urban and outdoor clothing with strong Chinese elements, the show,

which had numerous celebrities from China and the US in attendance, lifted Li-Ning to new heights.

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In his opinion, the development was beyond ridiculous

More than 84 million Nigerians have been registered to vote in the postponed elections.

Ahead of the elections, enthusiasm had been high among citizens of the most populous African country. The election had also dra

wn the attention of the international community given the position and prospects of Nigeria in the global arena.

Many netizens of the country have continued to express disappointment at the postpo

nement of the elections, each one regarding it as a huge failure on the side of INEC.

Some social media commentators even called on the electoral chief to resign.

One Facebook user Olufunmilayo Odunaike said that i

f at all there was a reason for the postponement, that should have been done a few weeks earlier.

“You don’t want to be me. Woke up, dashed to the bathroom to have my bath, m

ade sandwiches, only to learn elections have been postponed,” Odunaike queried.

Temitope Adeboye, another Facebook user, called for a thorough probe of the postponement.

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ccording to Jha, domestic issues, and not international

dominated Indian elections. “As such, China is not a threat to internal peace and security though a lingering border dispute has made people skeptical of China

,” Jha explains. Moreover, the way both nations dealt with the Doklam standoff indicates their maturity in handling such issues.

Pakistan, however, has been dominating every election since both nations have fought several wars and the w

ay Pakistan has been in the eye of the storm over allegations of supporting cross-border terrorism.

Pakistan also dominated the last general elections in 2014. During the mon

ths-long campaign, a top BJP leader Giriraj Singh said those opposing Modi should go to P

akistan. The remarks, many say, led to a strong polarization of Hindu votes in the surrounding areas as the BJP ma

de a clean sweep in Jharkhand and neighboring Bihar. Singh is currently a federal minister.

But why is the BJP desperate to play the China card this time? As per reports, the BJP has become apprehensive of not put

ting up a good show in the elections. Modi dropped enough hints about it when he urged people to elect a stable g

overnment so it could take “tough and strong decisions”. Various poll surveys too are making similar predictions.

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hina and Pakistan have enjoyed a great relationship for

bilateral ties were upgraded to an all-weather strategic partnership.

“We wish that our relationship could be closer and the bond of friendship will be further strengthened in the future,” the admiral said.

Abbasi also noted that the Indian Ocean is vital for the global economy. Thr

eats to this region cannot be tackled by any navy alone. The Chinese navy’s mission to en

sure maritime security in the Indian Ocean has provided a lot of security to shipping in the region, he said.

Shao Shuguang, commander of the Task Group 998, said during meeting w

ith Abbasi that “Karachi’s long history and culture, the hospitality of the Pakistani pe

ople, especially the professionalism of our counterparts in your navy, have left a deep impression on me.”

“I hope that the navies of our two countries will have further close exchang

es and cooperation to jointly maintain maritime security and stability in the Indian Ocean,” Shao said.

During the visit to Kunlunshan, the admiral also reviewed the PLA Navy’s guard of honor.

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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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Organizations and individuals involved in the abnorma

will be publicized on the CNIPA website and China Intellectual Property News, a Beijing-base

d newspaper, and face other punishments administered by related authorities, according to the draft.

They will also be blacklisted and exposed via a national credibility information sharing system.

Trademarks achieved by this means will be declared void, the draft says.

“The long-awaited regulations draft came as no surprise,” Li said. “Such regulations are necessary, especially amid continuous growth in IP filings in China.”

The number of trademark applications from the country has topped the world for ye

ars, according to statistics from the World Intellectual Property Organization.

Data from the CNIPA show that the inventory of valid domestic trademarks had surpassed 18 million by the end of 2018.

China has improved in IP filings and protection by leaps and bounds, yet insufficien

t enforcement has come under fire and the discordance between quantity and quality has yet to be tackled, Li said.

Growing awareness of the issues and the reconfiguration of IP administrative organs contributed to the rollout of the draft, he added.

“The draft does not merely address the chronic problem of abnormal applica

tions but provides an approach to balancing the quantity and quality, ” he noted. “It is just a start.”

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old Hunan art form sees revival during Lunar New Year

Deng Xia, a fan of Huagu (“flowery drum”) Opera, a local art form of Yueyang in

Central China’s Hunan province, barely misses such shows at the One Yuan Theater.

“It has enriched the cultural life of residents like me,” Deng, 35, says.

“In the past, we could appreciate the Huagu Opera, mostly during important festivals such as Lunar New Year, but now we can watch it often.”

The One Yuan Theater, located in Rongjiawan town of Yueyang, has staged 30 to 50 Huag

u Opera shows annually since 2012, with the audience numbers for each show sometimes touching 1,000.

“Some people bring along stools or are even willing to stand through a show of two or three hours,” says Deng of the theater that has a seating capacity of 800.

To enjoy a show, each viewer has to pay only 1 yuan ($0.15) as admission fee to the theater, as the prog

rams are covered by government funding. The initiative to provide regular and nearly-free shows to lo

cal residents has been successful in bringing the once-dead cultural heritage back to life.

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Spain’s govt loses budget vote, paving way for snap election

Spain’s parliament rejected the government’s 2019 draft budget on Wednesday, pushing the country to the brink of a national election.

Sources in the government and the Socialist party of Prime Minister Pedro Sanchez told Reuters on Tu

esday that he would call a snap election if the draft was rejected, with April 14 or April 28 the most likely dates.

The Socialists hold less than a quarter of the seats in parliament and needed support fr

om smaller regional parties, including the Catalans, to get the budget proposal voted through.

But the Catalan parties, unhappy with the government’s refusal to consider or dis

cuss – amongst other issues – an independence referendum for their nor

theastern region, voted against it, as did the centre-right and the conservatives.

“This shows that the right wing in this country is intent on blocking social progress,” Bu

dget Minister Maria Jesus Montero told reporters, in the government’s first reaction to the vote.

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