Renminbi to remain stable, regulator saysknotes at a ba

Central bank vice-governor voices confidence amid currency volatility

The monetary authority vowed to stabilize the renminbi amid escala

ted trade tensions, while continuing to push forward financial opening-up and pr

otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.

“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma

rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi

ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.

Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do

llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h

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f the escalation of the bilateral trade dispute is not a short det

detour before reaching a deal sooner or later, then the economic impact for consumers in China and t

he US, as well as other parts of the world, will be fairly costly, said Chen Wenling, chief econ

omist at the China Center for International Economic Exchanges.

Whether they buy finished products or goods made from r

aw materials and components, the tariffs still exist, Chen said.

The escalation will make goods produced by both countries less co

mpetitive and cause large-scale job losses, said Chen.

Wei Jianguo, former vice-minister of commerce, said economic conflict

s and trade friction between China and the US that draw global attention will happen fro

m time to time in the future, and these should be rationally regarded and prepared for.

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Santarita said a similar concept can also be found in other

Asian countries, citing the Philippines’ compadrazgo and Indonesia’s bapakism as examples.

Compadrazgo, a Spanish word that literally translates to “co-fatherhood”, is based

on a kinship ritual that is formed after a child gets baptized into the Roman Catholic faith.

For the predominantly Catholic and close-knit Philippine society, t

he godfather (known as the padrino) is part of one’s extended family and is expected to he

lp and protect his godchild. The godchild is expected to respect and be loyal to the padrino.

Bapakism is derived from the Indonesian word for “father”. When us

ed in Indonesian business, bapakism demands great respect and obedience to one’s su

perior. The manager in his role as the company’s bapak is expected to look after and care for his employees.

Although Asian values are steeped in an ancient culture and tradition, it was only in t

he 1990s that this concept drew global attention. This was partly due to Asian leaders like the la

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Govt should accelerate tax cuts to invigorate economy, premi

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Premier Li Keqiang urged government departments to speed up the implementation

of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturi

ng, construction and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measu

res in the past months, after the measures were introduced by Li in the Government Work Report in March. They

also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision made by the Communist Party of China Central Comm

ittee and the State Council. It has boosted market confidence in outstanding ways and promoted the stable

growth of the economy, he said, adding that the positive factors for economic growth are increasing.

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market confidence in outstanding ways and promoted the stab

le growth of the economy, he said, adding that the positive factors for economic growth are increasing.

Noting that the uncertainties in the global economic environment are also rising and there remai

n downward pressures on the domestic economy, Li called for both attention and confidence from the entrepreneurs.

Related departments should follow the guidance of Xi Jinping Though

t on Socialism with Chinese Characteristics for a New Era, invigorate the market thro

ugh deepening reform and opening-up and ensure the stable growth of the economy, Li said.

He said that tax reduction is the key to improving the business environm

ent and invigorating the market, which will not only stabilize growth and employment bu

t also encourage companies to invest more in innovation for long-term development.

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Efforts should be made to give people a more solid and

sustained sense of security, Xi said.Beijing blasts US Congress for Taiwan defense bill

Xi called for reforms in public security work and said big data should be used as a major engine to promote innovation in the sector. More

measures for higher-quality services should be implemented to give the public a substantial sense of fulfillment, he added.

While demanding that high discipline be exercised within the public security forc

es, Xi said there will be zero tolerance for violations of laws and Party discipline.

He also urged Party committees at all levels to suppo

Beijing resolutely opposes the United States House of Representatives for passing a bill on Tues

day to bolster Taiwan’s defense capability, calling it “boorish interference” in China’s domestic affairs.

Foreign Ministry spokesman Geng Shuang made the comment on Wedn

esday after the House voted to pass a nonbinding resolution reaffirming the US commitment to Taiwan. It also backed the

so­-called Taiwan Assurance Act of 2019, which supports Taiwan increasing its defense spending.

rt public security staff in exercising power and fulfilling their responsibilities in accordance with the law.

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The forum helped countries upgrade their concept

 of cooperation, defined key areas and strengthened the mechanism to seek high-quality development of the BRI, he said.

Leaders reached wide-ranging agreement on high-quality cooperation on the BRI at the leaders’ roundtable on Saturday after an i

n-depth exchange of views on issues such as connectivity, policy integration and sustainable development.

They supported comprehensive infrastructure connectivity as a way to foster economic growth and to build high-q

uality, reliable, resilient and sustainable infrastructure, according to a joint communique issued after the roundtable.

All parties involved supported strengthening synergies in development policies using the principle

of extensive consultations, joint contributions for shared benefits and building even closer partnerships, the joint communique said.

The leaders also upheld green and sustainable growth and agreed to enhance cooperation in areas such as environ

mental protection, circular economy and clean energy, according to the communique.

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Most of the ivory was hidden in an abandoned factory

by the smugglers, Sun said. Busts were made in several locations, which were not disclosed. The case is still under investigation.

Since early this year, 182 smuggling cases involving endangered species have been investigated, the administration said on Monday.

More than 500 tons of endangered animals and animal products were seized, 8.48 t

ons of which was ivory tusks or products made of ivory. In those cases, 171 suspects were detained.

The Chinese government suspended imports of ivory and all ivor

y products in 2015 and ended commercial processing and sale of ivory at the end of 2017.

The ban has had significant positive effects, with fewer people purchasing ivory, according to a report j

ointly released last year by the World Wildlife Fund and TRAFFIC, an NGO that tracks the global trade in wild animals.

“We will strengthen our anti-smuggling efforts, continuing to work with international organizations and depart

ments and allowing no tolerance of those illegal activities,” said Hu Wei, deputy director of the administration.

www.shejio.org

US zoo holds farewell party for giant pandas Diego Zoo

The San Diego Zoo in the US state of California held a special ceremo

ny on Saturday to kick off a three-week farewell event for two giant pandas.

Twenty-seven-year-old female giant panda Bai Yun and her son, six-year-old Xiao Liwu, will leave the zoo in late April and b

e sent back to China, as the zoo’s conservation loan agreement with China has ended.

According to the zoo, their staff are working with their colleagues in China on future panda conservation and research.

The zoo’s giant panda program is the first joint research program established between Chi

na and the United States as early as in 1994, said China’s Consul General in Los Angeles Zhang Ping.

“Like other joint giant panda research and conservation programs in the United States, t

his program has not only promoted the friendship and understanding bet

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Guangzhou introduces 3D printing to restore remain

A special 3D printer worked next to a display cabinet filled with a variety of imitations of bo

dy parts at a funeral parlour in Guangzhou, capital of southern China’s Guangdong province.

The city’s funeral service center is trying to introduce the new technology to help restore remains damaged in accidents.

“We want the deceased to leave with dignity,” said Yu Jiaqi (pseudonym), an embalming expert at the funeral parlor.

Previously, the restoration was carried out manually, using plasticine, plaster and clay. A facial repair usually took 15 to 30 days.

Yu said not only the long wait but the sometimes barely satisfactory restoration prolonged the pain for family and loved ones.

“The materials can easily deform. We have been looking for better ways to restore the original form of the deceased,” she said.

Li Zhijian, deputy head of the funeral service center, said 3D printing only takes 10 da

ys for a much more lifelike and accurate face, and the texture is stronger and feels more like real skin.

www.dyrbrn.cn