CHINA DAILY | HONG KONG EDITION Wednesday, July 31, 2019 | 17 BUSINESS Stocks recover on mainland exchanges Easing in global monetary policies may spark uptrend in second half, say experts

By ZHOU LANXU and “one or two small cuts” to interest SHI BAOYIN in Zhengzhou rates for the rest of the year given the easier stance of other central China’s A­share market ended banks worldwide, Weller said. higher on Tuesday, with the growth Many central banks from both enterprise­heavy ChiNext Index hit­ developed and emerging markets ting a three­month top, as analysts such as South Korea, New Zealand, expect an easing in global monetary Australia, India and Russia had cut policies to spark an uptrend in interest rates to stimulate their own financial markets over the second economies and protect themselves half of the year. from downside risks. The benchmark Shanghai Com­ Anticipation of the Fed’s move posite Index rose by 0.39 percent to stoked an advance on Tuesday in close at 2952.34 points on Tuesday, Asian shares. while shares on Shanghai’s Nasdaq­ Japan’s Nikkei 225 index climbed A GAC Aion LX is displayed at a recent car exhibition in Shanghai. PROVIDED TO CHINA DAILY like STAR Market extended gains as 0.43 percent to 21,709.31 points, and they rose 3.55 percent on average. South Korea’s Kospi gained 0.45 The growth enterprise­heavy percent to 2038.68 points. ChiNext Index on the Shenzhen Easier global monetary policies, a Stock Exchange went up 0.87 per­ strengthening in China’s policy GAC unveils intelligent driving ecosystem cent to close at 1580.13 points on measures to stabilize growth and a Tuesday, the highest close since the reduction in the diversion of funds end of April. The Shenzhen Compo­ to the STAR Market should inspire a By QIU QUANLIN square meters and more than 45 enable new EVs to run more than nent Index added 0.48 percent to rally of the whole A­share market in in Shenzhen, Guangdong 577,000 billion yuan ($6.54 billion) in 600 kilometers on a single charge. settle at 9399.1 points. the year’s second half, a report from [email protected] units investment, the industrial park The intelligent connectivity and “As a result of easier global mone­ CITIC Securities said. sales of new energy cars in includes manufacturing, core auto smart driving ecosystem will be tary policy, we believe that equities Insurers, trust companies and GAC Group, a major automobile China in the first five months parts and leading technological installed in GAC’s new electric will remain in an uptrend (in the financial shares led the rise on maker in Guangdong province, has of this year research for new energy cars, the model Aion LX, which will be put second half of the year),” said Matt Tuesday after the country released unveiled an intelligent and inter­ company explained. into production in September this Weller, global head of market com­ plans to facilitate debt­for­equity connected driving ecosystem to Construction of the first phase of year, Gu added. mentary at Gain Capital. swaps to contain corporate debt facilitate its development in the of the GAC Group. the park, with a designed produc­ “The ecosystem will make driv­ For Chinese stocks particularly, leverage levels. booming new energy vehicle sector. The development of intelligently tion capacity of 400,000 units of ing more intelligent and connect­ progress in the Sino­US trade talks Consumer stocks posted steady The innovative ecosystem ADiGo connected new energy vehicles will vehicles, was completed at the end ed, giving customers a safe driving is also an important factor to watch, gains. developed in collaboration with become a major business growth of 2018. experience,” the GAC official said. he added. Liquor maker Kweichow Moutai internet giants Tencent Holdings driver for the company, the official Gu Huinan, general manager of Gu said the 5G technology would China and the United States kick­ Co Ltd rose by 0.26 percent to close Ltd and Huawei Technologies said. GAC New Energy Automobile Co facilitate auto driving and intelli­ ed off a new round of trade negotia­ Tuesday at 978.93 yuan, while Hen­ includes a system of automatic driv­ “The automatic driving and Ltd, a subsidiary of the GAC Group, gent connectivity in vehicles. tions in Shanghai on Tuesday. an Shuanghui Investment & Devel­ ing and intelligent connectivity with intelligent connectivity systems said the company has established “Auto driving and intelligent con­ Market attention was also focused opment Co Ltd, which had acquired subsidiary systems of cloud comput­ will become a real smart driving its second generation of electric nectivity will go beyond our expec­ on the two­day meeting of the US US­based global pork processor ing and big data, the company said. service provider for our customers,” vehicle manufacturing, known as tations, following the wide use of Federal Reserve that begins in the Smithfield Foods some years back, “The ADiGo ecosystem is of great said Feng. the GAC Electric Platform. 5G technology,” said Gu. US on Tuesday. added 0.25 percent to finish at 24.39 importance to GAC’s future devel­ Early in 2017, GAC began construc­ “Building new energy vehicles is Sales of new energy cars in China Global investors widely expect the yuan. opment. The group is moving into tion of a large industrial park for new not simply putting batteries into reached 577,000 units in the first Fed to announce a 25­basis­point becoming a mobile driving service energy and intelligent vehicles in the traditional fuel cars. The electric five months of 2019, a year­on­year interest rate cut at the end of its Chen Jia contributed to the story. provider and transforming into an Panyu district of Guangzhou, capital platform will enable us to develop increase of 66 percent, the China meeting on Wednesday. intelligent automobile manufac­ city of Guangdong province. real new energy cars,” said Gu. Association of Automobile Manu­ The People’s Bank of China, the Contact the writers at turer,” said Feng Xingya, president With an area of about 5 million The GAC electric platform will facturers said. country’s central bank, may allow [email protected]

NOTICE OF CREDITORS' MEETING NOTICE OF CREDITORS' MEETING IN THE HIGH COURT OF THE HONG KONG IN THE HIGH COURT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION SPECIAL ADMINISTRATIVE REGION COURT OF FIRST INSTANCE COURT OF FIRST INSTANCE BANKRUPTCY PROCEEDINGS BANKRUPTCY PROCEEDINGS INTERIM ORDER APPLICATION INTERIM ORDER APPLICATION NO. 287 OF 2019 NO. 280 OF 2019 Re: Cheung Hau Yee, Debtor Re: Chu Ho Yin Christopher, Debtor NOTICE is hereby given that the Creditors' Meeting NOTICE is hereby given that the Creditors' Meeting summoned by interim order made on 19th July 2019 summoned by interim order made on 19th July 2019 to consider the proposal for a voluntary arrangement to consider the proposal for a voluntary arrangement of the above-named debtor will be held at the office of the above-named debtor will be held at the office of IBC Solutions Limited, Room 516, Tower A, of IBC Solutions Limited, Room 516, Tower A, New Mandarin Plaza, 14 Science Museum Road, New Mandarin Plaza, 14 Science Museum Road, Tsim Sha Tsui East, Kowloon, Hong Kong on 15th Tsim Sha Tsui East, Kowloon, Hong Kong on 15th August 2019 (Thursday) at 9:30a.m. August 2019 (Thursday) at 10:00a.m. Bona fide Creditors can obtain a copy of (i) the Bona fide Creditors can obtain a copy of (i) the Debtor's Proposal; (ii) the Statement of Affairs; (iii) Debtor's Proposal; (ii) the Statement of Affairs; (iii) the Nominee's Report and Comments; (iv) Proxy the Nominee's Report and Comments; (iv) Proxy form; (v) a Notice of Claim form; and (vi) any other form; (v) a Notice of Claim form; and (vi) any other notes and notices from the office of IBC Solutions notes and notices from the office of IBC Solutions Limited, Room 516, Tower A, New Mandarin Plaza, Limited, Room 516, Tower A, New Mandarin Plaza, 14 Science Museum Road, Tsim Sha Tsui East, 14 Science Museum Road, Tsim Sha Tsui East, Kowloon, Hong Kong. Kowloon, Hong Kong. Dated this 31st July 2019. Dated this 31st July 2019. Ng Kin Hung, CPA Ng Kin Hung, CPA Nominee Nominee

Giving program lift Call of the wild AVIC subsidiary welcomes pilots, Nature photographer uses work to advocate for crews to customer service center preservation of endangered animals PEOPLE, PAGE 10 IMAGE, PAGE 12 CHINADAILY FRIDAY, May 3, 2019 www.chinadailyhk.com HK $8 Diving in with both feet Sino­US talks on trade seen Hong Kong as productive

Negotiators from two sides aim to meet next week in Washington to continue

By ZHONG NAN, REN XIAOJIN a professor of international trade and JING SHUIYU at the University of International Business and Economics in Bei­ News Awards Vice­Premier Liu He, US Trade jing. Representative Robert Lighthizer James Collins, CEO of Corteva and Treasury Secretary Steven Mnu­ Agriscience, the agricultural divi­ chin met in Beijing from Tuesday to sion of US­based DowDuPont, said Wednesday for the 10th round of he hopes the two countries will trade talks between China and the reach a positive resolution, to bene­ United States. fit both countries and the rest of the The two sides are working on put­ world. Collins said his firm was “not ting bilateral trade on a stronger so much affected” in the short term footing, and the latest meetings by China­US trade tensions. were productive, Mnuchin wrote on The company will consider add­ Inside his Twitter account, without giving ing employees, research and field details. development resources to expand in Hong Kong tackles Tourists visit an underwater attraction in Qinhuangdao, Hebei province, on Thursday during the May Day holiday. CAO JIANXIONG / FOR CHINA DAILY A Chinese team is scheduled to the Chinese market over the coming high cost of living visit Washington next week for years, he said. SPOTLIGHT, PAGE 16-17 another round of talks, Xinhua Ministry of Commerce spokes­ Chinese fashion News Agency reported. man Gao Feng said last month that Liu is also a member of the Politi­ the two countries’ negotiating designers enter cal Bureau of the Communist Party teams are hashing out the text of a CHINADAILY world stage GLOBAL WEEKLY Communication key to shared future for mankind of China Central Committee and deal, including an enforcement APRIL 19-25, 2019 LIFE, PAGE 28 chief of the Chinese side of the Chi­ mechanism, based on mutual By ZHOU SHUCHUN published by the Qiushi journal on Inside cators should further play up their na­US comprehensive economic respect and benefit. Both coun­ May 1, Xi wrote that “civilization special role in advancing under­ dialogue. tries, the world’s two biggest econ­ The Conference on Dialogue of becomes colorful because of See more, page 2 standing, deepening friendship China and the US have been expe­ omies, have been intensifying Asian Civilizations, which will be exchanges, and abundant because and expanding cooperation in the diting their economic and trade their consultations and aiming to WORLD WATCH held later this month following the of mutual learning”. He urged fast­changing world. They should consultations, with a goal of imple­ break the deadlock in a timely By XxxxxXie Fuzhan xxxxx proposal of President Xi Jinping, nations to “seek wisdom, absorb future for mankind illuminate the push world progress in the right menting the consensuses President manner. demonstrates China’s deep think­ nutrition from different civiliza­ world. historical direction while promot­ Xi Jinping and US President Donald In the ninth round of trade con­ ing and responsibility for promot­ tions, provide the people with spiri­ The world, which is going ing exchanges among civilizations Trump reached in December, said sultations, negotiators discussed ing the tual support and comfort for their through a phase of adjustment that and mutual learning. Xue Rongjiu, deputy director of the technology transfers, protection of development of soul, and join hands to resolve com­ features huge development and First, we should act as promoters China Society for WTO Studies in intellectual property rights, non­tar­ China plays civilization in mon challenges of various kinds fundamental changes, faces great of exchanges among human civili­ Beijing. iff measures, the service sector, agri­ Asia and the confronting human beings”. and unfamiliar turbulent situa­ zations. The mutual dependence, China has made various moves culture, trade imbalances and world. The con­ Apart from proposing to build a tions — the overall trends of peace exchanges and learning of different recently to expand the new round enforcement mechanisms. key role in ference will have community of shared future for and development are irreversible, civilizations give shape to the abun­ of reform and opening­up — such Trade between China and the US great and far­ mankind in his speech at the head­ while instability and uncertainty dant and colorful world today. As as the approval of the Foreign amounted to 815.86 billion yuan reaching signifi­ quarters of the United Nations in are prominent. Some problems and the UNESCO Universal Declaration Investment Law in March and fur­ ($121.7 billion) in the first quarter of open global cance to the September 2015, and in his report challenges are unprecedented, and on Cultural Diversity points out, ther facilitating trade connectivity the year, an 11 percent year­on­year construction of a community of for the 19th National Congress of the international community faces cultural diversity “is the common under the Belt and Road Initiative. decline, according to the General shared future for mankind. the Communist Party of China in crucial choices concerning the heritage of humanity”. The diversity It will continue opening its market Administration of Customs. In economy The history of humanity is one of October 2017, Xi has pledged on dif­ future of the world and the fate of of human civilizations is a basic in a proactive, steady and orderly March, Sino­US trade climbed 0.1 the coexistence and joint develop­ ferent occasions to build a peaceful, humanity. characteristic of the world, as well manner, in accordance with its percent to 291.35 billion yuan, Last month, President Xi Jin- ment of multiple civilizations. In safe, prosperous, open, inclusive, As an important power promot­ as a source of the progress of own development needs and its according to the administration. ping successfully concluded his his article on exchanges among civ­ clean and beautiful world to let the ing human development and own pace and timetable, to benefit state visits to Italy, Monaco and ilizations and mutual learning, sunshine of a community of shared progress, international communi­ See Shared future, page 2 Chinese and global consumers Contact the writers at zhong­ France, which gave strong impe- across the world, said Tu Xinquan, [email protected] tus to the development of the China-EU relationship. At a new starting point in the development of this relationship, it is impor- National anthem clip in center stage on social media tant to look at China-EU ties and the international order. Since the global financial crisis By LUIS LIU and TOMMY YUEN eo on their websites and social national anthem — March of the Vol­ Also starring in the video were of 2008, the international order in Hong Kong media accounts. unteers. Born in Germany and Canto­pop stars Alan Tam Wing­ has entered a period of deep The video came as the city’s Legis­ raised in Canada, Zeman became a lun and Cally Kwong Mei­wan; adjustment and transforma- A video of Hong Kong elites and lative Council is deliberating over a naturalized citizen of China after Wong Yuk­shan and Stanley Ng tion. The rise of a large number young students alike singing the national anthem bill, with a desig­ renouncing his Canadian citizen­ Chau­pei, Hong Kong deputies to of emerging markets and devel- national anthem grabbed the spot­ nated bills committee scrutinizing ship in 2008, having been in Hong the National People’s Congress; oping countries has accelerated light on the city’s social the proposal. Kong since the 1970s. and former secretary for food and the development of a multipolar media on Thursday. More than 200 dignitaries, includ­ “Singing the national anthem in health, Ko Wing­man. world and changes in the global The three­minute clip, ing military veterans, scholars, and Chinese, I felt very, very patriotic. I Students also participated, and landscape and balance of power. featuring people from all heavyweights in politics, business, felt very, very good,” Zeman said. local educators spoke highly of the Now emerging markets and Scan to walks of life at a flag­rais­ sports and entertainment, joined Fok Kai­kong, CYA chairman and event. “When children have a coun­ developing countries contribute watch ing ceremony at the land­ the event set as a “flash mob”. a member of the National Commit­ try and a home where they belong, more than 78 percent to world economic growth. These coun- the video mark Golden Bauhinia Among the participants was star tee of the Chinese People’s Political they can find a sense of belonging. Square in Wan Chai, was actor Jackie Chan, who said after the Consultative Conference, also joined They can learn about love and tries also account for more than 40 percent of the world’s total part of a project by the Committee ceremony that he was excited to be a the chorus, together with his wife faith,” said Lee Ming­chu, principal economic output. of Youth Activities to mark the 70th part. “I feel very proud to be Chi­ Guo Jingjing, former Olympic diver of local kindergarten Yau Yat Chuen Today’s world has witnessed anniversary of the founding of the nese,” he said. and four­time gold medalist. School. Vice­Premier Liu He (center) meets with US Trade Representative conflicts and hot spot issues. People’s Republic of China. Allan Zeman, Hong Kong busi­ The national anthem brings back Robert Lighthizer (right) and Treasury Secretary Steven Mnuchin in Nontraditional security threats Almost all mainstream media nessman and renowned founder of memories of a proud endeavor every Contact the writers at Beijing during the 10th round of high­level economic and trade con­ like climate change, cybersecu- outlets in Hong Kong posted the vid­ Lan Kwai Fong, also sang the time one listens to it, Fok said. [email protected] sultations, which took place from Tuesday to Wednesday. XINHUA rity, refugee crises and terrorism continue to spread and harm the international community. Protectionism and unilateral- INSIDE ism are prevalent in some coun- CHINESE SKIERS HIT THE SLOPES IN EUROPE tries. Fragmentation of interna- As more ◆ tional mechanisms and rules has Successful Winter Olympics bid spurs sports industry hampered the multilateral trad- Chinese ing system and proved to be an travel, pets impediment to an open world By WANG MINGJIE in London from 9.6 million in 2015, a rise of 37.5 tain Tourism, said the skiing industry Even a small number of Chinese ski­ economy. live it up in [email protected] percent, according to the latest China is growing rapidly in China, driven ing fans making their way to Europe The global governance system Ski Industry White Paper. by strong support from the govern­ could have a major positive econom­ has found it hard to address these

the lap of eijing’s successful bid to host The white paper shows the num­ ment. “At this stage, the market ic impact on resorts. DAILY CHEN / CHINA SONG global challenges. luxury the 2022 Winter Olympics ber of ski resorts in China has grown potential remains mostly untapped,” St. Anton am Arlberg, a popular Even as the trend toward has been the catalyst for the by 81 percent over the past five years, he said. ski resort in the Tyrolean Alps in Aus­ a multipolar world, economic 2010-2018 BizLife, page 14 B globalization, information tech- rapid growth of winter sports in Chi­ to 742 nationwide. In Europe, most markets have a tria and the gateway to the Arlberg na. The central government aims to mature profile and face the challen­ skiing region, has found a way to nology application and cultural It has also seen European ski raise the number of winter sports ges of an ageing society, meaning court the Chinese market. diversity evolves further, the resorts raise their game after stagnat­ participants in China to 300 million lower returns from their customer Known as the “cradle of alpine ski­ future of the world has never been as closely linked as it is ing because of an ageing baby­boom­ by 2022, and estimates the value of base and of worldwide competition, ing”, the resort invited the Chinese © 2019 China Daily , All Rights Reserved , Vol.23 — No. 6863 Tax reductions in By ANDREW MOODY rior Design and Construction, Shu Wenbin, is today. er generation and a wider range of the winter sports industry will reach with holidaymakers having more national skiing team to train on its [email protected] one of them and said he believes the 2 trillion While a new international alternative leisure pursuits. 1 trillion yuan ($149 billion) by 2025. choice of winter activities. slopes during the winter season. the private sector yuan ($298.8 billion) in tax cuts and fees, order is being built, hegemonism A member of the The number of skiers in China Laurent Vanat, author of the Inter­ Ski operators in Europe are look­ Asia News Network illions of private business entre- mostly targeted at small and micro-businesses and power politics still exist, and reached 13.2 million last year, up national Report on Snow and Moun­ ing east to tap the potential market. See Skiing, page 3 set to boost China’s preneurs in China are set to in the Government Work Report on March 5, protectionism and unilateralism small businesses benefit from large-scale tax cuts, will give his company a major boost. are still prevalent. which take effect this month. MThe general manager of Continental Inte- See Tax, page 3 See Challenges, page 20

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