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Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we
re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.
On Monday, individuals in China were able to purchase bonds issued by t
he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N
ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc
ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.
The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu
ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno
wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.
headed by No 18 Wang Qiang, who this week reached the Miami Open quarterfinals to
become the first Chinese to go that far at the premier mandatory event since Li’s run to the final in 2014.
Li is delighted to see her compatriots mixing it with the world’s best, but said she expects more.
“It’s good to have a group of girls in the top 50, but the resources they enjoy today make me believe they could do better,” she said.
With more advanced coaching and training methods, WTA
CEO Steve Simon reckons China will unearth the next Li sooner rather than later.
“The chances of finding the next Li Na are very bright; it’s just a matter of time,” he said earlier this month in Shenzhen.
The return of The Road to Wimbledon, a tailor-made tournament for under-14 players, f
or its fourth year in China is part of the latest effort to deepen the domestic talent pool.
It began on Monday with a weeklong trial camp overseen by Dan Blox
ham, head coach of the All England Club. The best performers will be picked to compete at a nat
ional tournament in Nanjing in May, which will decide China’s representatives at the global final at Wimbledon from Aug 11-17.
levated China’s ties with Italy, Monaco and France to a new level, and injected new impetus into China-Europe compreh
ensive strategic partnership, Chinese State Councilor and Foreign Minister Wang Yi has said.
When the world is undergoing profound changes unseen in a century, Xi’s Europe tour, hailed b
y the international community, is dedicated to deepening partnership for cooperation, improving global governance, and uphol
ding multilateralism, which shows China’s sense of responsibility as a major country, Wang said.
In six days, the Chinese president attended over 40 events during his visit to five cities including Rome, Palermo, Monaco, Nice a
nd Paris, Wang noted, adding that it is a trip of friendship, cooperation and exploration that has delivered fruitful results.
This year marks the 15th anniversary of the China-Italy comprehensive strategic
partnership, and next year will witness the 50th anniversary of China-Italy diplomatic relations.
At meetings with Italian President Sergio Mattarella and Prime Minister Giuseppe Conte, Xi agreed with them to further i
ntensify high-level exchanges, consolidate political mutual trust, and elevate bilateral relations, Wang said.
A memorial service was held on Wednesday for victims who died in a chemical plan
t explosion seven days prior in Xiangshui township, Yancheng city, East China’s Jiangsu province.
More than 200 officials, police officers, firefighters, bereaved families and volunteers attended the serv
ice at 7:30 am. The cars at the site honked their horns and attendees presented flowers to pay tribute to the victims.
To date, the deadly explosion of Jiangsu Tianjiayi Chemical Co in Yancheng’s Xiangshui county has claimed 78 lives.
According to Chinese tradition, the seventh day after a death marks the height of the mourning period.
subsidies continue gradual phase-out
China will whittle down subsidies on new energy vehicles as the industry develops and cost drops, aiming to boost high-quality development in the NEV sector.
The newest measure will lower subsidy standards for new energy passenger cars, buses and t
rucks, taking factors such as industry growth, cost reduction and subsidy phase-out policies into consideration, the
Ministry of Finance said in a joint statement Tuesday, adding the move was set to bring more competition in the industry.