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Fiscal, Monetary Policy to Help Keep Economy Stable

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Fiscal, Monetary Policy to Help Keep Economy Stable Getting some air Overseas camps Containing Ebola for students rise International funds raise hopes Dedicated skateboarders elevate sport, in popularity to halt worsening of epidemic hope for spot at Olympics YOUTH, PAGE 18 CHINACHINA, PAGE 4DAILYWORLD, PAGE 12 WEDNESDAY, July 31, 2019 www.chinadailyhk.com HK $8 Fiscal, monetary policy to help keep economy stable Political Bureau meeting decides to avoid real estate market stimulus “The political bureau meeting is further room for fiscal easing on side structural reform, boost said liquidity should be kept ample, infrastructure investment to stabi­ domestic consumption, further By XIN ZHIMING and LI XIANG on the meeting of the Political Bureau Analysts said the meeting sig­ meaning the banks’ reserve lize growth in the coming two open up the economy and stabilize of the Communist Party of China Cen­ naled an important policy direction requirement ratio (cash required as quarters. foreign trade and employment. China will not change its real tral Committee. Xi Jinping, general by showing that the government is reserves) and the interest rate may “As prevailing uncertainty around On Monday, Xi said that “while estate policies to provide short­term secretary of the CPC Central Commit­ shunning stimulation through be cut in the second half,” said trade will still weigh on private sec­ difficulties and challenges in eco­ stimulus to the economy, but tee, presided over the meeting. boosting the property market, Liang Haiming, dean of Hainan tor confidence, we continue to nomic operations should be noticed, instead will make fiscal policy more “Proactive fiscal policy and pru­ which is the right way to deal with University Belt and Road Research expect policy efforts to boost direct the economy’s long­term improving effective and “keep liquidity reason­ dent monetary policy should be well economic weakening. Institute. public spending. On the fiscal front, trend remains unchanged”. ably ample” in the second half of implemented,” the report said. “Fis­ “It is a very correct decision,” said Fiscal policy will be tilted toward the pace of government bond issu­ “(China will) unswervingly deep­ this year, participants in a top lead­ cal policy should be strengthened Qu Tianshi, China economist for small and mini­businesses and ance will likely remain relatively fast en supply­side structural reform ership meeting said on Tuesday. and made more effective, and the Bloomberg Economics. “The coun­ startups, with more tax and fee at around June’s level in the coming and foster new growth engines to “The long­term management tax and fee reduction policy should try should not blindly use the prop­ cuts tailored to their needs, said couple of months to support infra­ push high­quality economic devel­ mechanism of the real estate sector be implemented more thoroughly.” erty market to stimulate the Liang, who is also chairman of the structure spending,” he said. opment in a down­to­earth manner,” should be implemented and the Participants agreed that “monetary economy just because the economy China Silk Road iValley Research The Political Bureau meeting said he said. industry will not be used as means to policy should be neither too tight nor is slowing down. Such practices ... Institute. China’s economy is facing “new stimulate the economy in the short too loose, and liquidity should be kept exacerbate the risk of asset bub­ Robin Xing, chief China econo­ risks and challenges” and the coun­ Contact the writers at term,” Xinhua News Agency reported reasonably ample”, the report said. bles.” mist at Morgan Stanley, said there try will continue to carry out supply­ [email protected] Washington Top leadership reaffirms rebuked for tough measures on graft meddling in By CAO DESHENG Committee are fully carried out, [email protected] according to the statement. The meeting also highlighted the HK protests The Political Bureau of the Com­ results of discipline inspection in munist Party of China Central Com­ the State­owned enterprises direct­ By STAFF WRITER mittee underlined on Tuesday the ly under the central government, in Hong Kong need to maintain a high degree of the statement said, adding that pressure on corruption and urged marked progress has been made in The Ministry of Foreign Party officials to be clean, responsi­ Party building at the enterprises as Affairs on Tuesday denounced ble and loyal to the Party. well as in their reform and develop­ the United States for meddling The Political Bureau reviewed ment. in Hong Kong affairs by show­ an accountability regulation of Three rounds of discipline ing support for unlawful pro­ the Party and a report on disci­ inspection have been conducted tests against the now­ pline inspection at a meeting pre­ throughout all State­owned enter­ suspended extradition law sided over by Xi Jinping, general prises directly under the central amendments. secretary of the CPC Central Com­ government, according to the Hua Chunying, a spokesper­ mittee. statement. son of the ministry, made the Exercising full and rigorous Meeting participants said the remarks after US Secretary of A Fuxing bullet train crosses the Hongliuhe Bridge on Sunday, at the border of the Xinjiang Uygur autono­ governance over the Party calls enterprises have made significant State Mike Pompeo noted when mous region and Gansu province, on the Lanzhou­Xinjiang high­speed railway. ZHANG YONGHENG / XINHUA for strict accountability, accord­ contributions in promoting social attending an event at the Eco­ ing to a statement issued after the and economic development, scien­ nomic Club of Washington D.C. meeting. tific and technological progress, that the Hong Kong protests 70 YEARS ON | XINJIANG The CPC Central Committee has defense construction as well as were “appropriate” and such revised the Party accountability reg­ improvement of people’s livelihood, incidents were common in the ulation, which was adopted by the while warning that prominent prob­ US. He said he hopes China will Vocational trainees find good jobs committee’s Political Bureau in lems still remain, according to the “do the right thing” and “respect June 2016, in line with a five­year statement. the agreements in place with plan (2018­22) for the formulation The meeting called on State­ respect to Hong Kong”. By CUI JIA of intra­Party regulations, the state­ owned enterprises directly under At a daily press conference in [email protected] ment said. the central government to Beijing, Hua said radical protest­ The meeting urged Party organi­ strengthen Party building, press ers in the Hong Kong Special Most of the trainees at vocation­ zations and leading officials to ahead with supply­side structural Administrative Region were seen al education centers in the Xin­ remain true to the original aspira­ reforms, implement innovation­ attacking the police with metal jiang Uygur autonomous region tions and the founding mission of driven development strategy and rods and other life­threatening have graduated from the centers the Party to seek happiness for the effectively prevent and defuse weapons. and have started to play a positive people and rejuvenate the Chinese various risks to strive for high­ role in the society, Xinjiang offi­ nation and ensure that the policies quality development, the state­ cials said on Tuesday. and decisions of the CPC Central ment said. The centers aim to help people who have been influenced by terror­ Maybe the US could ism and extrem­ Reception for PLA’s birthday Inside ism understand import such violent their mistakes and protests and show Editorial, the possible public page 9 harm they could the world how their cause, they said. democracy handles “Many people have found suita­ Folk dancers perform at a Beijing news conference on Tuesday about them.” ble jobs that they like after gradua­ the achievements of the Xinjiang Uygur autonomous region during tion and begun to have the past 70 years. WANG ZHUANGFEI / CHINA DAILY Hua Chunying, considerable income. Further­ the Ministry of Foreign more, they have also been helping Affairs spokesperson others to pursue a better life,” said camps’ as they are described by to 25 million Chinese of 47 ethnic Shohrat Zakir, chairman of the some,” Shohrat said. “Our goal is to groups, has seen profound changes Inside regional government. He spoke in enable people to see the nature of and achieved huge progress. Beijing at a news conference on extremism, which often is dis­ However, the penetration of reli­ Comment, page 8 Xinjiang’s development held by the guised as a part of religion, so they gious extremism from overseas led State Council Information Office. won’t be lured into activities that to frequent terrorist incidents in Xin­ Shohrat said the centers provide endanger people’s lives and the uni­ jiang in recent years. Personal safety Maybe the US could “import” free classes in the country’s com­ ty of the country.” has become a concern for both locals such violent protests and show mon language, impart knowledge of Since most of the trainees have and visitors to the region, which cov­ the world how their democracy the law and provide vocational skills graduated, many teaching facilities ers one­sixth of China’s territory. Representatives of Chinese military forces participate in a reception handles them, Hua said. to trainees with little education who are being used to provide short According to the region’s de­ex­ held by the Ministry of National Defense at the Great Hall of the People Since February, some US politi­ have been influenced by terrorism training courses on agricultural tremization regulations, govern­ in Beijing on Tuesday. The event also marks the 92nd anniversary of the cians and senior government and extremism and are suspected of skills for local people, Shohrat said. ments at the county level or above founding of the People’s Liberation Army on Thursday.
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