he increased bank lending could match the real econom

The monetary authority has rolled out a series of policies in recent mont

hs to ensure adequate liquidity in the financial sector and accelerated loan issuance to co

mpanies. The measures include a new lending facility, called the targeted medium-term lending facility, which was in

troduced in December to encourage commercial banks to increase lending to small and private firms.

The central bank further cut the required reserve ratio for financial institutions by 1 percentage point in January and inj

ected another 800 billion yuan of capital into the market. That followed four reserve ratio cuts last year.

Supported by the liquidity, the average interest rate in financial mark

ets had already declined by January, which actually provided much cheaper funding t

o commercial banks and borrowers in the corporate sector, Sun said.

Accompanied by the credit boost, growth of the broad money sup

ply, or M2, accelerated in January to 8.4 percent from 8.1 percent at the end of December, t

he central bank said. Government bond issuance, meanwhile, has also picked up since the start of this year.

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ercent from 8.1 percent at the end of December, the central

It’s hard to say that China entered a new cycle of credit expansion,” said Zhang Ming, chief eco

nomist at Ping An Securities. “For the whole year, the overall financing growth and money supply is expected to stabilize.”

Fast credit expansion means higher pressure on companies to repay debt and interest, and the space for sustainable credit growth i

s limited, given the current leverage level. Total outstanding debt has exceeded 250 percent of GDP, Zhang said.

The good news is that credit has been channeled effectively into the production sector, such as manuf

acturing and high-tech, and the healthier credit structure can support the overall economic r

estructuring reform, said Ruan Jianhong, head of the central bank’s statistics and analysis department.

hina and the United States will continue economic and trade consultations in Washington ne

xt week, after reaching consensus in principle on major issues during their high-level Beijing talks, State media reported.

According to Xinhua News Agency, the two sides had in-depth communication on topics of mutual concern including tec

hnological transfers, intellectual property rights protection, nontariff barriers, the service industry, agr

iculture, the trade balance and an implementation mechanism, as well as on particular issues of concern to China.

www.hdflower.net.cn

We bring the best wishes of President Trump. He’s aske

ed us to state that he also places great importance on his personal relationship with you,” Lighthizer said.

“We have had two very good days of negotiations. We feel that we have made headway on some very

, very important and very difficult issues,” he said. “We have additional work we have to do but we are hopeful.”

Xi asked Lighthizer and Mnuchin to extend his sincere greetings to President Trump, saying that he cherishes their good wor

king relationship and would like to keep in contact with him.
Cooperation based on fully respecting mutual interests is the best way for the two c

ountries to renew their trade and economic relations with a deal that is in line with the interests of both countries. If that has been the shared und

erstanding during this week’s talks, and it is carried forward in the negotiations in Washington next week, hopef

ully the two sides will be able to narrow the differences between them sufficiently so that the two leaders can pe

ncil in a date for a meeting at which they can shake hands on a deal that sets the right course for future relations.

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In addition, the global total amount of new data generat

China is expected to generate 48.6 zettabytes (48.6 trillion gigabytes) of data in 2025, while the number for the US is forecast to be

30.6ZB, according to a study by the International Data Corporation (IDC) and data storage firm Seagate, a CNBC report said.

In addition, the global total amount of new data generated is set to grow from 33ZB in 2018 to 175ZB by

2025, with data collected from entertainment platforms, video surveillance footage, internet-co

nnected devices, productivity tools and metadata contributing to most of the growth, according to the report.

In the race for data, which, as IDC analysts put in their report, is

“at the heart of this digital world” and “a company’s most valuable intangible a

sset, which can create a competitive edge in digital transformation”, there is already a victory sign coming from China.

The country generated about 7.6ZB data last year, around 0.7ZB more than the US, the report said.

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hina refutes report of contact with Venezuelan opposition

BEIJING – China said on Wednesday that it hoped relevant media would report news abiding by principles of being objective and fair.

Chinese Foreign Ministry spokesperson Hua Chunying made the remarks when asked for comments on The Wall Street Jou

rnal reporting that Chinese diplomats had contact with Venezuelan opposition representatives in Washington.

“Recently, some media have been cooking up fake news. I don’t know what the purpose is,” said Hua at a press br

iefing. “We hope relevant media will report news abiding by principles of being objective and fair.”

As for the current Venezuela issue, China advocates seeking a political settlement through dialogue and consultation, Hua said.

The SpaceX Falcon 9 rocket, scheduled to launch a US Air Force navigation satellite, sits on Launch Complex 40 after the

launch was postponed after an abort procedure was triggered by the onboard flight computer, at Cape Canavera

nqlbn.cn

Space a new realm for Sino-US cooperationational Space Ad

After the successful landing of the Chang’e-4 lunar probe on the far side of the moon on Jan 3, Ch

ina is planning to launch Chang’e-5, a more advanced lunar probe, later this year to collect samples from the moon.

The Chang’e-4 mission, the first such mission in history, was an important m

ilestone in the lunar exploration program of not only China but also the wo

rld. About 50 years ago, the United States’ Apollo 11 landed the first humans on the moon, marking a critical step in spa

ce exploration. But no human has landed on the moon after 1972. Since Apollo 11, according to the US, effectively en

ded its space race with the Soviet Union, the Americans abandoned all ambitions to further explore space.

“Project Apollo” did not prompt other countries to join the space race because no country ot

her than the US and the Soviet Union could afford the huge costs. Even the US found it extremely difficult to s

ustain the project. For example, the cost of launching the Saturn V rocket, the carrier of Apollo 11 in 1969, was nearly $40

0 million, almost equal to the total budget of the US National Science Foundation that year.

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Today, the situation is radically different. Space exploration is

nger the prerogative of the US and Russia. Apart from the US, Russia and China, India too has worked out an ambitious plan to put astronauts in space by 2022.

Constantly improving manufacturing and new material technologies have remarkably reduced the cost of space launches. The pr

ivate US company Space X has successfully launched recoverable rockets, and its launch cost per kilogram payload has fallen below $2,000, one-ten

th that of a space shuttle launch. And for China and India, the cost of one rocket launch is less than $5,000 per kg.

Another major change helping space exploration is the advancement in 3D printing technology, which now allows astr

onauts to produce parts and components in the International Space Station and thus reduces the number of sup

ply vehicle launches. 3D printing will play a big role in the construction of a permanent space station on the moon.

These technological advancements have propelled a new wave of space fever ac

ross the world. While US President Donald Trump has reactivated the space ex

ploration program that aims to land humans on Mars by 2033, private space companies such as Space X and Blue Ori

gin have used advanced technologies to their full advantage to move ahead in the space race.

For China, building a permanent space station and a rocket launch platform on the moon will

be critical to advanced space exploration. Actually, China is moving closer to fulfilling that objective.

www.102xe.cn

South Korea, US sign cost-sharing deal for American troops

SEOUL, South Korea — South Korea and the United States struck a new deal Sunday that increases Seoul’s contribut

ion for the cost of the American military presence on its soil, overcoming previous fai

led negotiations that caused worries about their decades-long alliance.

The development comes as President Donald Trump is set to hold his second summit w

ith North Korean leader Kim Jong Un in Vietnam in late February.

South Korea last year provided about $830 million, covering roughly 40 percent of the cost of the deployment of 28,

500 U.S. soldiers whose presence is meant to deter aggression from North K

orea. Trump has pushed for South Korea to pay more.

On Sunday, chief negotiators from the two countries signed a new cost-sharing pla

n, which requires South Korea to pay about 1.04 trillion won ($924 million) in 2019, Seoul’s Foreign Ministry said in a statement.

The statement said the two countries reaffirmed the need for a “stable” U.S. mili

tary deployment amid the “rapidly changing situation on the Korean Peni

nsula.” The ministry said the U.S. assured Sou

th Korea that it is committed to the alliance and has no plans to adjust the number of its troops in South Korea.

www.shuyin-edu.cn

DPRK officials to meet ahead of summithe United States

and the Democratic People’s Republic of Korea will meet this month in an unidentified Asi

an country ahead of their leaders’ planned second summit in Vietnam, South Korean officials said yesterday.

The US special representative for the DPRK, Stephen Biegun, visited Pyongyang last week to work out details of t

he February 27-28 summit in Hanoi between President Donald Trump and DPRK leader Kim Jong Un.

After being briefed by Biegun about his talks in the DPRK, South Korea’s presidential office said that the US and t

he DPRK used Biegun’s trip as a chance to explain what concrete steps they want from each other.

South Korea’s national security adviser Chung Eui-yong, who met Biegun, repor

ted that US-DPRK diplomacy “is working well,” presidential spokesman Kim Eui-kyeom said.

He said a follow-up US-DPRK meeting ahead of the summit will take place in a third country in Asia in the week beginning February 17.

trwater.com.cn

Midway through our flight from Auckland to Shanghai, th

the pilot informs us that Chinese authorities had not given this plane permissi

on to land, so we needed to turn around,” Eric Hundman, an assistant professor at New York University Shanghai, said on his Twitter account.

He described the experience as “a new level of China

An official with CAAC said the administration has begun an investigation into the incident.

Air New Zealand also said they are investigating and an official explanation will be released later on Sunday.

All the passengers have been accommodated and another flight is to be arranged on Sunday night to send the passengers to Shanghai.

“Air New Zealand wishes to sincerely apologize for the return and subsequent retiming of your flight NZ289,” the carrier said in the short message to its passengers.

The rearranged flight is scheduled to take off at 11pm New Zealand time on Sunday and land at Pudong airport at 6am local time Monday.

Bad,” which caused heated debate on the social network.

“Obviously Air New Zealand forgot to get approval for this plane in advance… You ca

n blame Air New Zealand, but this mistake has nothing to do with ‘China Bad’,” a netizen replied.

Hundman later told Shanghai Daily that he did not mean to blame China since it was still un

clear who is at fault. “I mean that I had a frustrating, highly unusual experience while en route to China,” he added.

weishow.com.cn