New debt issuance stood at 1.58 trillion yuan while that issued through the debt-for-bond swap program reached 2.77 trillion yuan.
Nearly 500 archaeological items are unearthed in 57 ancient tombs in Guangzhou, South China's Guangdong province, on Dec 24, 2019. [Photo/chinanews.com]
Nation makes great progress as it looks to become a more open economy
Nathan Myhrvold talks cheeseburgers and photography in his new Modernist Cuisine Gallery in downtown Seattle in front of the stylized images of food that he captures. (GeekWire Photo / Kurt Schlosser) Read the story.
Nation's sovereign wealth fund posts net profit of 3.62 billion last year China's sovereign wealth fund announced on Monday it posted a net profit of 3.62 billion as of Dec 31, 2017, up by 37.55 percent year-on-year.Most importantly, the net return on its overseas investment hit a record high of 17.59 percent last year, compared with 6.22 percent in 2016, according to the annual report of China Investment Corp."Among our asset classes, open market operations recorded the fastest growth in return on overseas investment, followed by private equity and direct investment, and then by fixed-income investment," said Li Wenping, deputy director-general of CIC's finance department.Last year, as the exchange rates of non-US currencies remained relatively stable against the US dollar, CIC had a foreign exchange loss of million, much smaller than the exchange loss of .53 billion in 2016 when the US dollar was stronger, Li said."CIC is an important chapter of the monumental masterpiece of China's opening up," said Tu Guangshao, vice-chairman and president of the sovereign wealth fund."During the past 10 years, we grasped the opportunities of global economic development and the integration of China into the global economic system."Since the sovereign wealth fund was established in September 2007, its net cumulative annualized return on overseas investment was 5.94 percent as of the end of 2017. During the same period, its total assets increased from 0 billion to 1.42 billion, and the annualized growth rate of State-owned capital was 14.51 percent, according to the annual report.CIC is drawing up a future development strategy, especially for the next three years, Tu said."We'll steadily increase our alternative investment and direct investment, better promote the combination of our outbound investment and China elements, keep innovating outbound investment methods, such as optimizing the existing multilateral and bilateral funds, and build a multi-dimensional ecosystem for cross-border investment to deepen our cooperation with various partners," he said.
New forms of infringement of religious rights and interests have sprung up, making it more urgent to protect and promote these rights, said Jiang Jianyong, deputy head of the State Administration for Religious Affairs, during a meeting of the Buddhist Association of China held this week in Changsha,Hunan province.
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Nearly 150 billion yuan ( billion) worth of donations were received by entities on the Chinese mainland last year, 7.68 percent more than a year earlier, according to a newly released report by China Charity Alliance.
Netflix CEO Reed Hastings downplayed any one competitor’s impact on the company in a question about Amazon during Netflix’s third quarter earnings call.
New Delhi's enactment of three farm bills has intensified widespread resentment among thousands of farmers throughout the country.
Nearly 600 primary students at Yaqiao Second Nine-year School in Jilin city, Jilin province, have been actively practicing an innovative class-break exercise since the beginning of the semester in September.