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market could deter爱上海同城对对碰mine the RMB exchange rate, but if extreme situations arise, the central bank
can exercise some intervention to prevent spillover effects of exchange rate volatilities on neighboring countries.
Yi, the PBOC governor, said the current fiscal policy package is strong enough to counter headwinds, even if
the situation gets a little worse, and “a discussion” could be opened if the scenario turns “tremendously worse”.
Looking forward, the unemployment rate, rather than the GDP growth rate, should receive more atte
ntion. “The Chinese economy is presently doing reasonably well, and I don’t worry too mu
ch about the unemployment problem. So long as people still have jobs, it’s not a concern if growth slows slightly. But this ma
tter deserves to be very closely watched, particularly as now trade tensions escalate rapidly,” Huang said.
If trade tensions start to have “bigger impacts” on the economy, he said
nd force low-end manufacturers to move out more rapidly, it might increase the pres
sure on unemployment. So supporting domestic consumption and encouraging the development of the servi
ces sector, especially labor-intensive services, could help mitigate the pressure, he said.
lear that if the US treats the Chinese negotiating team with respect and shows the willingness to talk wit
hout using outside pressure, there is a high possibility that there could be a productive trade deal.
“Otherwise, I think we might be facing a prolonged period of problems for both sides,” she said.
Regan, at the close of their 15-minute talk, said again, “No one wan
ts trade wars. But we have to think long hard about the right next steps.”
Liu, however, did counter an assertion by Regan that China’s government controls its entire economy.
“Everybody thinks that China’s economy is state-owned, state-controlled, every
thing is state, state, state. Let me tell you that is not the true picture,” Liu said. “We are a
nergy of all parties, Belt and Road cooperation will definitely become deep and concrete, steady and extensive,” the report said.
“The Belt and Road will become a road of peace, prosperity, opening up, green development, innovatio
n, connected civilizations, and clean government. It wi
ll make economic globalization become more open, inclusive, balanced and beneficial to all.”
China will improve its oversight of human related scientific research and medic
al tests under draft laws and amendments submitted to China’s top legislature for review on Saturday.
Medical and scientific research related to human genes and embryos mi
ght present risks to health or violate ethics, and they must be strictly regulated therefore, said She
n Chunyao, senior legislator of the Constitution and Law Committee of the National People’s Congress.
A new item has been added to the country’s draft civil law, requiring that all
medical and scientific research related to human genes and embryos must f
ollow strict rules, laws and regulations, and should not pose a threat to people’s health or violate moral or ethical codes.
China produces more than 80 million tons of hazardous waste per year, instead of the official figure of 40 million tons.
Therefore, the total capacity for hazardous waste treatment in the country is insufficient, according to Wang.
The utilization rate of the capacity for hazardous waste dispo
sal also remains low. According to data that the Ministry of Ecology a
nd Environment provided to the NPC Standing Committee in 2017, only about 25 percent of China’s capacity was
in full operation and data from other sources also shows low utilization rates, Wang said.
“Some enterprises have failed to build sound systems for hazardous waste manageme
nt as required, or failed to implement them,” Wang said, adding that some companies had turned a blind eye to loo
pholes in the production process that could result in hazardous waste leakage.
In one case, Baoxun Precision Screws Co Ltd in Zhejiang province was found to have dumped about 1,072 tons of hazardou
s sludge into the Yangtze River in Anhui and Jiangsu provinces from July 2016 to May 2017.