Thursday, 21 June, 2018

China can control risks, meet 2017 growth target: Li

Vishal Sikka CEO and MD of Infosys Everett Rosenfeld | CNBC Vishal Sikka CEO and MD of Infosys
Sammy Stanley | 29 June, 2017, 09:07

It's a good time to further open China's capital account and domestic companies won't be afraid of opening the financial sector to foreign companies, said Li, a professor at Beijing's Tsinghua University.

Premier Li Keqiang, while speaking at the Summer Davos Forum on June 27, compared world economic prospects to the natural landscape of Dalian, Northeast China's Liaoning province, where the meeting is being held.

China eliminated more than 65 million tonnes of steel production capacity and over 290 million tonnes of coal previous year, beating government annual targets.

There are fears the world's second-largest economy will lose momentum as policymakers curb freewheeling credit and property purchases that have powered growth for years, amid warnings of a potential debt-induced financial crisis.

"Currently, China also faces many difficulties and challenges, but we are fully prepared", he said.

In the first three months of the year China expanded by a better-than-expected 6.9 per cent, raising hopes the economy was stabilising.

Bank of England tightens capital requirements as debt surges
Borrowers often do everything they can to pay off mortgages , but are less afraid about defaulting on credit cards or auto loans. The Bank's assessment said loss rates on consumer lending "are low at present", driving margins on new lending lower.

The agreement builds both on the work done when Minister for Foreign Affairs Vivian Balakrishnan met his counterpart Wang Yi a fortnight ago, and when Deputy Prime Minister Teo Chee Hean met China's Vice-Premier Zhang Gaoli in February for the annual Joint Council for Bilateral Cooperation meeting, said Mr Stanley Loh, Singapore's ambassador to China.

When completed, the upgraded CSFTA will include new areas such as competition, e-commerce and the environment, said Mr Tharman, while the scope of existing areas such as investment provisions, trade facilitation and remediation, and market access will likely also be widened.

He added that China will encourage foreign firms to reinvest their profits in the country but will not restrict the cross-border movement of their earnings.

Apart from reducing overcapacity, China has reduced market thresholds and cut taxes and fees for businesses, Li noted. The registered urban unemployment rate has remained at around 5 percent.

"There is a misunderstanding about the "Made in China 2025" plan, saying the objective of such policies is to enable China not to buy foreign equipment, which, however, is impossible", Li said, pointing out that firms make their own decisions to purchase products in the age of globalization.

Global markets continue to fret about the outlook for China as policymakers have tightened financial conditions and cracked down on wanton growth in debt to defuse bubble risks.

Recommended

  • Expansion Vegas loads up on D-men, could make more trades

    Expansion Vegas loads up on D-men, could make more trades

    Vegas Golden Knights' Marc-Andre Fleury speaks with the media Wednesday, June 21, 2017, in Las Vegas . He took full advantage of the opportunity, becoming one of the team's most reliable players.
    Comatose US Student Freed by North Korea Has Severe Brain Injury

    Comatose US Student Freed by North Korea Has Severe Brain Injury

    A Department of State spokeswoman won't say what envoy Joseph Yun gleaned about the medical conditions of the other Americans. Residents of the northern Cincinnati suburb tied blue-and-white ribbons, the school colours, to trees near the family's home.
    Trump calls for stricter limits on welfare for immigrants

    Trump calls for stricter limits on welfare for immigrants

    Trump bested Democrat Hillary Clinton in Iowa by almost 10 percentage points in the election previous year . On the border wall, the president reassured his base: "And yes, we will build the wall".
  • Trump destroys Obama's 'collusion' and 'obstruction' in blistering tirade

    Trump destroys Obama's 'collusion' and 'obstruction' in blistering tirade

    They also hand intelligence confirming that the Russian goal was to defeat Hillary Clinton . Obama ordered a review of Russia's actions and imposed new sanctions after the election.
    Arizona is so hot that flights are being cancelled

    Arizona is so hot that flights are being cancelled

    The main burn center in Phoenix warned people to be careful around vehicle interiors and pavement and with their pets. The soaring temperatures are not expected to affect large planes that can handle up to 127 degrees in order to fly.
    Govt approves disinvestment of Air India

    Govt approves disinvestment of Air India

    Air India's share in the domestic aviation market is a mere 14 per cent with Indigo and Jet Airways enjoying the lion's share. On June 5, 2017 Finance Minister Arun Jaitley said that the government should have exited the airline more than a decade ago.
  • Pentagon: 'Active preparations' by Syria for chemical attack

    White House spokeswoman Sarah Huckabee Sanders flatly denied the White House was freelancing on foreign policy. The US-led coalition and allied fighters are battling to oust the IS group from its Syrian bastion Raqa.
    So it begins: Britain kicks off Brexit negotiations with EU

    So it begins: Britain kicks off Brexit negotiations with EU

    A detailed paper will then be published on Monday, Mr Davis confirmed. "And use the time in between to work on proposals and exchange them".

    Modi meets Trump with his usual greeting _ bear hugs

    These energy contracts "are being negotiated and we will sign - trying to get the price up a little bit", Trump said . India and the USA also urged Pakistan to ensure that its territory is not used to launch cross-border terror strikes.
  • Iran warns United States  against 'dangerous' Syria escalation

    Iran warns United States against 'dangerous' Syria escalation

    In 2012, President Obama famously warned that the use of chemical weapons use would constitute a red line , triggering US action. Days later, President Donald Trump ordered a retaliatory cruise missile strike on a Syrian government-controlled air base.
    Tehran says Saudi coastguard killed Iranian fisherman

    Tehran says Saudi coastguard killed Iranian fisherman

    Last week, Qatar's navy carried out three days of joint training exercises with the U.S. navy. Qatar has been accused of funding terrorism, a charge it denies .
    Tillerson urges nations to negotiate to resolve Qatar crisis

    Tillerson urges nations to negotiate to resolve Qatar crisis

    Tillerson said that "a productive next step would be for each of the countries to sit together and continue this conversation". Bahrain, Saudi Arabia, United Arab Emirates (UAE) and Egypt have cut ties with Qatar on terrorism funding charges.

Sterling hits 7-month low against resurgent euro Sterling hits 7-month low against resurgent euro Brent crude futures, the global benchmark for oil prices , gained 82 cents, or 1.79 percent, to settle at $46.65 per barrel. OIL: Benchmark U.S. crude rose 23 cents to $43.61 per barrel in electronic trading on the New York Mercantile Exchange.

Merkel rival puts stronger Europe at center of German election Merkel rival puts stronger Europe at center of German election Merkel's comments came after the SPD declared Sunday that same-sex marriage would be a red line issue for any future coalition. Merkel said the program will be forward looking and will contain "all topics that you would expect from the party".

Oil price extends drop to 7 month lows, despite OPEC cuts Oil price extends drop to 7 month lows, despite OPEC cuts This, combined with the hostile political climate in North Africa and West Asia has threatened exports, causing the supply glut. The Iranian minister spoke highly of OPEC's performance in arriving at a consensus to cut output and help prop up prices.

Fultz, Embiid fully believe Sixers are a playoff team Fultz, Embiid fully believe Sixers are a playoff team There were some slight winners like Charlotte and Utah landing Malik Monk & Donovan Mitchell respectively at surprising spots. Fast food probably isn't a deal-breaker when it comes to where you play in the National Basketball Association .

Govt approves 7th pay panel recommendations with 34 modifications Govt approves 7th pay panel recommendations with 34 modifications When dearness allowance crosses 50%, it will be increased to 30%, 20% and 10%, respectively for the three categories of cities. The union cabinet also chose to enhance HRA to 27%, 18% and 9%, respectively when the dearness allowance crosses 25%.

Federer to face Zverev in his 11th Halle final Federer to face Zverev in his 11th Halle final It was total domination by Federer , who returned to action a few weeks back after taking a two-month hiatus from the sport. When Federer won his first Wimbledon crown in 2003, Zverev was a six-year-old boy in Germany.

New Analyst Ratings For Morgan Sindall Group (LON:MGNS) In related news, insider Steve Crummett sold 13,174 shares of Morgan Sindall Group PLC stock in a transaction on Friday, May 19th. Winslow Evans Crocker accumulated 4,380 shares or 0% of the stock. 435,528 shares of the company's stock traded hands.

Iraqi army says "Daesh is finished" in Mosul Sporadic sniper fire could be heard, and an incoming rocket, as the troops used a drone to survey the insurgents' defences. Islamic State has lost about half the Old City since the battle for the historic district started ten days ago.

Grenfell Tower fire: Estate residents call for thorough inquiry The investigation of the Grenfell Tower fire must leave "no stone unturned", an open letter to Theresa May has warned. Paulous' body was found on the building's 13th floor and had to be identified through dental records.

Trump Attacks Amazon, Washington Post in Tweet That Literally is 100% False Trump Attacks Amazon, Washington Post in Tweet That Literally is 100% False With respect to an "internet tax", states and localities can't levy taxes on access to the web. The stock immediately plunged about $8 per share before recovering by the market open.

Undercover Video Shows CNN Producer Admitting Russia Narrative is 'Mostly Bullsh Undercover Video Shows CNN Producer Admitting Russia Narrative is 'Mostly Bullsh The story Trump spoke of was posted on the network's website Thursday and was removed, with all links disabled, Friday night. In the video released by Real Clear Politics, Bonifield said CNN and other media organizations operate as businesses.

Baby Driver is not your average crime thriller Baby Driver is not your average crime thriller His tough-looking passengers ( Jon Hamm , Eiza Gonzalez and Jon Bernthal ) exit with comical menace, assault weapons in hand. Baby is an expert wheelman employed by Doc ( Kevin Spacey ), a shadowy crime king specializing in impossible heists.

WPAFB Weather: Highs in the 80s today, potential storms ahead this week WPAFB Weather: Highs in the 80s today, potential storms ahead this week On Sunday , the Triangle had a high of 84 after a morning low of 69; and Fayetteville had a high of 91 after a morning low of 74. Tuesday , it will be sunny with a high near 82, and a south southeast wind of 3 to 8 miles per hour , the weather service said.

AB de Villiers backs South Africa to win Test series against England Dawid Malan was named man of the match after making the highest score by an England player on their T20 debut. AB de Villiers believes South Africa's excellent Test record in England will work in their favour again.

Former NBA bad boy Rodman is back in North Korea Former NBA bad boy Rodman is back in North Korea The announcement comes as former National Basketball Association player Dennis Rodman is paying a return visit to North Korea . Warmbier also said he had been encouraged by the university's "Z Society", which he said he was trying to join.