apanese companies tend to invest for the long term

  a very low tolerance for risk, according to Takeshita.

  ”The current situation in Britain is just that — uncertainty,” he said. “Many are backing off.”

  He predicted more Japanese firms will retreat as Brexit unfolds.

  Toyota (TM) warned in December that a British exit from the Euro

pean Union without a deal in place would put at risk vehicle production worth millions of d

ollars a day, but it stopped short of saying it would cut its investment.A senior executive at Nomura (NMR) in N

ovember described Brexit as “a great concern” that will increase costs and risks for financial firms. Nomura has alr

eady started moving dozens of jobs from London to Frankfurt and hiring new staff on the European mainland.

  It’s not just about Brexit

  There are others reasons why Japanese companies are dialing back their commitments to the United Kingdom.

  Advances in technology mean carmakers can now automate more of their supply ch

ains. That has made it cheaper to operate factories in Japan, where labor costs are typically high.

aishedesb.com

The government should appropriately increase investm

ent in emerging infrastructure, especially in 5G and industrial internet infrastructure, in which there is much room for investment.

Li Bo, vice chairman of the All-China Federation of Returned Overseas Chinese

The core of securities regulation is information disclosure, rather than letting the government decide or mainta

in stock indices at certain levels. Therefore it is essential to introduce registration-based IPO system reform more

quickly and comprehensively. Moreover, reform to the social security system for seniors should be swiftly enacted. If we want to increase the weight of l

ong-term stable institutional investors in the A-share market, reform to the social security system for retirees is a crucial step.

Lu Lei, deputy director of the State Administration of Foreign Exchange

The development model characterized by a low factor cost and low added-value is not sustainable, w

hich is a long-term challenge for China’s economic health. Meanwhile, overdependence on liquidity,

reflected by low interest rates and leverage ratios, is the short-term challenge.

All the crises and lessons in emerging markets derive from internal imbalances, namely, that the r

eal economy lacks competitiveness and operates with high leverage. External risk management and c

ontrol may buy time, but it can only delay systemic risks if there is no effective internal structural reforms.

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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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oreigners choose Hohhot over megacities boiled lamb b

Hohhot, capital of North China’s Inner Mongolia autonomous region has seen an influx of foreign residents over the past few years.

Traditionally, megacities such as Beijing and Shanghai have been popular with expats, but many are now choosing lesser known cities such as Hohhot.

Thanks to the city’s rapid economic growth, Hohhot is increasingly seen as an exciting place to live and work.

“I have lived here for nearly 14 years; I love everything here,” said Vincent, an expat from the Philippines.

Vincent came to Hohhot in 2006 to work as a foreign language teacher. S

ince then, he has learnt to speak fluent Chinese and has built a successful career in the city.

Hohhot has changed dramatically over the last few years; there are new expres

sways and significant improvements to public transportation networks, he said.

Most importantly, the city is becoming more and more environmentally friendly, he added.

The local culture has also proved attractive to foreigners arriving in the city.

Jason, an Irish expat, works in the city as a foreign language teacher. He

enjoys learning the local dialect and even decorated his house with red lanterns ove

r Spring Festival, despite not knowing anything about the festival when he first arrived in Hohhot.

I’m really pleased to be working here, and hope that I can make a valuable contribution to the city, he said.

The municipal government plans to continue making the city a welcoming environment for

expat workers, with a host of new preferential policies designed to make the city an attractive place to live in.

shlfas.com

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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hina sees progress in revitalizing traditional crafts

ina has seen progress in its effort to revitalize traditional crafts and turn them int

o targeted measures for poverty alleviation, according to the Ministry of Culture and Tourism.

The ministry said it has organized extensive training for inheritors of traditional c

rafts and supported setting up relevant workstations in collaboration with different departments.

The ministry has set up 57 workshops for intangible cultural heritage and provided training for 2,500 people in poverty-stricken areas

, including a county in southwest China’s Guizhou Province that is home to the ethnic Miao people.

The campaign has also raised the awareness of provincial-level authorities. A total of 26 provinces, autonomous re

gions and municipalities have issued plans for revitalizing traditional crafts in their regions.

The ministry said it will continue to focus on policy implementation and the inclusion of social forces in the future.

ashck.com

Judge finds Manafort lied to investigators in Russia probe

WASHINGTON — A federal judge has found that Paul Ma

nafort, US President Donald Trump’s former campaign manager, has breached his plea a

greement with Special Counsel Robert Mueller’s office by intentionally lying to prosecutors.

Then-Republican presidential nominee Donald Trump gives a thumbs up as his campaign manager Pa

ul Manafort looks on during Trump’s walk through at the Republican National Convention in C

leveland, US, July 21, 2016. [Photo/Agencies]
US District Judge Amy Berman Jackson sa

ys in an order that there’s sufficient evidence that Manafort lied in breach of his plea agreement.

The decision hurts Manafort’s chance of receiving a reduced sentence next month.

Manafort was accused of lying about several matters including his discussions with a longt

ime associate the FBI says has ties to Russian intelligence. Mueller’s prosecutors have said the discussions be

tween Manafort and Konstantin Kilimnik about a Ukrainian peace plan go to the “heart” of the Mueller probe.

Manafort was also accused of lying about sharing polling data with Kilimnik during the 2016 presidential campaign.

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Yueyang Huagu Opera originated more than 200 years ago. It is

mainly popular in a dozen counties and cities in not just Hunan, but also in the adjacent Hubei province and the eastern Jiangxi province.

In its long development process, the opera has widely absorbed features of Yueyang folk tunes and artistic factors of other opera types t

o form its own style. Traditionally, Huagu Opera had no full-time performing troupes, and was only pe

rformed by amateur artists, most of whom were local farmers, during slack farming seasons on temporary stages.

In 2007, Yueyang Huagu Opera was recognized by the State Council, China’s Cabinet, as

a national intangible cultural heritage for its cultural, historical and artistic significance.

In recent years, measures have been taken by the local government to promote the art form.

The One Yuan Theater, which aims to cultivate more audience, has been a successfu

l attempt, says Yi Wen, an expert of Huagu Opera, who works at a local cultural center in Yueyang.

“Traditional culture still means a lot to the local people. Even some younger residents have shown their interest in the opera,” Yi says.

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The shows at the One Yuan Theater are performed by a tro

upe that’s affiliated to the cultural center where Yi works. Currently, there are about 30 members in the opera troupe, with ages r

anging from 20 to over 60. The average age of the per-formers is 40, according to Yi. Being listed as a national int

angible cultural heritage has drawn more efforts toward protecting the art form.

“Most of the young performers were recruited after the opera was listed as national intangible cultural heritage,” Yi adds.

The local government’s support in recent years includes adding to the troupe member

s’ livelihoods and taking on costs for regular shows at the One Yuan Theater into its annual budget plan, Yi says.

Liu Liurong, 50, a leading member of the troupe, says she has witnessed the enhancement o

f the opera over the past years. Having performed such shows for more than 30 years, Liu is recognized as a p

rovincial-level inheritor of the art since 2009. She says she had dreamed of standing on stage since she was in middle school.

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GiottoPress by Enrique Chavez