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LP 1­4 CWORLD, PAGE 12HINCHINA, PAGE 5ADAILY WEDNESDAY, August 1, 2018 www.chinadailyhk.com HK $7 Image of timeless valor GREATER Flexibility BAY AREA MAKING key to steady GLOBAL WAVES economy ◆ Dynamic trading Manufacturing PMI down slightly, region aims to but still in expansionary territory become major By XIN ZHIMING The meeting stressed that economic driver and WANG YANFEI fiscal policy should play a larger role in expanding China will maintain eco­ domestic demand and eco­ By HONEY TSANG nomic growth within a rea­ nomic restructuring, while in Hong Kong sonable range by making money supply should be [email protected] policies more forward­look­ properly managed and ing, flexible and effective, liquidity should be kept “rea­ In the Pearl River Delta in according to a meeting of the sonably ample”, according to South China, two mammoth Political Bureau of the Com­ the report. projects are nearing comple­ munist Party of China Cen­ The wording of the meet­ tion, and when they are fin­ tral Committee on Tuesday. ing shows that fiscal policy ished they will constitute the The meeting, presided may be more proactive than final stages of the transporta­ over by Xi Jinping, general monetary policy going for­ tion backbone of one of the secretary of the CPC Central ward, Zhang said. most dynamic trading regions Committee, determined that China will maintain the in the world. the country will adhere to a basic goal of “seeking The Guangdong­Hong proactive fiscal policy and a progress while maintaining Kong­Macao Greater Bay prudent monetary policy to stability” for its economic Li Xun sculpts a likeness on Tuesday of retired military officer Li Yuhou, 94, who fought in the War of Resistance Against Japanese Area, made up of nine cities in maintain stable and healthy work and allow the economy Aggression (1931­45), to mark the founding of the People’s Liberation Army on Aug 1, 1927. JIANG DONG / CHINA DAILY Guangdong province plus the economic development, to continue to perform with­ See related stories, page 3 special administrative regions according to a Xinhua News in an appropriate range, it of Hong Kong and Macao, will Agency report. was said at the meeting. become the largest of the To that end, the country Efforts should be made to world’s top four bay area com­ will improve its policy fore­ push supply­side structural mercial regions as well as a top sight, flexibility and effec­ reforms and win the “three industrial, high­tech, financial tiveness, the report said. tough battles”, namely, fore­ DAB calls for solid land, housing measures and transportation zone. The economy is currently stalling and defusing major facing transformation, new risks, targeted poverty allevi­ By KATHY ZHANG To resolve the land supply and housing policy imple­ issues and challenges, and ation and enhancing pollu­ in Hong Kong problem, the DAB proposed a mentation. the external environment tion controls, according to [email protected] series of key measures. These Under current practices in has undergone significant Xinhua. include establishing a trans­ Hong Kong, the Development changes. The country will The authorities will stabi­ Hong Kong’s largest politi­ parent and credible mecha­ Tenancy control Bureau is responsible for poli­ better balance its financial lize China’s employment, cal party in the Legislative nism to facilitate cies on land use and supply; By the end of this year, travel risk prevention and boost financial sector, foreign Council urged the chief exec­ development of public hous­ can help to ensure the Transport and Housing time by high­speed rail support of the real economy, trade and investment, and utive on Tuesday to outline in ing on private land through Bureau is in charge of hous­ between Hong Kong and and will resolutely maintain protect the legitimate rights the next Policy Address solid the public­private partner­ rents are afforda­ ing policies. Guangzhou South Station will its deleveraging drive while and interests of foreign measures to deal with the ship. The party also called for Cheung also noted that a be reduced to 48 minutes, cut­ better managing its pace and enterprises in China, it was city’s land and housing short­ the release of 1 to 2 percent of ble for grassroots relaxation of mortgage ting an hour from the current intensity, according to the said at the meeting. age. land on the periphery of households.” requirements, mortgage travel time on the Guangzhou­ report. The country will continue Twelve lawmakers from the country parks. insurance premium and Kowloon line. “The macroeconomic poli­ to devise effective reform Democratic Alliance for the It suggested the govern­ Vincent Cheng Wing­shun, stamp duty exemptions will be Meanwhile, the 120 billion cy direction will not funda­ measures and implement its Betterment and Progress of ment liaise with mainland lawmaker from the Democratic helpful to help first­time buy­ yuan ($18.4 billion) Hong mentally change,” said Zhang policy of economic opening­ Hong Kong briefed the media authorities to explore the fea­ Alliance for the Betterment and ers to purchase properties. Kong­Zhuhai­Macao Bridge Ming, an economist with the up and market access expan­ after meeting Carrie Lam sibility of “renting land” in Progress of Hong Kong “It is extremely difficult for will become a key link along an Institute of World Economics sion. Cheng Yuet­ngor to submit the Guangdong­Hong Kong­ young middle­class people expressway between Hong and Politics at the Chinese The challenge of the real their suggestions. The Policy Macao Greater Bay Area to and young parents to own Kong and western Guangdong. Academy of Social Sciences. estate market will be well Address will be delivered in address the shortage. ple living in subdivided flats their first property,” Cheung The bridge is expected to The policy adjustments are handled and efforts will be October. The party also said the gov­ — and also protecting their said. carry 29,100 vehicles and made against the backdrop made to “resolutely stem Starry Lee Wai­king, the ernment could introduce ten­ rights as tenants. On the same day, the latest 126,000 passengers daily by of a significantly changing property price rises”, accord­ DAB’s chairwoman, said her ancy control for grassroots The party also proposed a data relating to the city’s 2030, and 42,000 vehicles and external environment and ing to Xinhua. The process of party proposed a total of 121 households to ease the bur­ reorganization of govern­ property market was released 175,000 passengers per day by are intended to prevent a establishing a long­term suggestions covering 10 are­ den of renting, noted Vincent ment departments. by the Rating and Valuation 2037. serious economic slowdown mechanism for the stable as. Measures to increase land Cheng Wing­shun, a lawmak­ Lawmaker Horace Cheung Department. In October, Xi Jinping, gen­ and excessive risk exposure and healthy development of supply and rein in housing er and member of the DAB. Kwok­kwan said he proposed The price of lived­in prop­ eral secretary of the Commu­ as a result of the combined the property sector will be prices are the most impor­ Cheng said tenancy control setting up a Housing, Plan­ erties in Hong Kong has risen nist Party of China Central effect of external shocks and accelerated, it said. tant. They should top the gov­ can help to ensure rents are ning and Lands Bureau to for 27 months consecutively Committee, said in his report domestic deleveraging, he ernment’s agenda next year, affordable for grassroots improve the efficiency and until June this year, new data to the 19th CPC National Con­ said. See Economy, page 3 Lee argued. households — especially peo­ accountability of land supply shows. gress that the central govern­ ment would give priority to developing the Greater Bay Area, and boost cooperation Party discipline, rules China fossils confirmed as new dino species between Guangdong, Hong Kong and Macao, in order to enhance regional cooperation enforcement promoted By ANGUS MCNEICE the fossils were discovered. throughout the Pearl delta. in London Lingwulong was rela­ “We will formulate and [email protected] tively small by sauropod improve policies and measures By MO JINGXI with Xi Jinping as its core, standards with a relatively to make it more convenient for [email protected] and the committee’s cen­ British and Chinese short neck. The beast people from Hong Kong and tralized, unified leadership, researchers have confirmed measured 11 to 17 meters Macao to develop careers on During a meeting on Tues­ observing strict political that fossils found in China and had a long tail and the mainland,” Xi said. day chaired by Xi Jinping, discipline and rules, and are from an entirely new strong, stout limbs. At about 56,000 square general secretary of the Com­ consolidating the political species of dinosaur that Lingwulong is the first kilometers, the Greater Bay munist Party of China Cen­ foundation of the Party. belonged to the same fami­ diplodocoid ever discov­ Area is larger than Tokyo Bay, tral Committee, the Political The enforcement of disci­ ly as the iconic extinct ered in East Asia. Paleon­ the second­largest bay area Bureau of the CPC Central pline and applicable laws giants diplodocus and tologists had previously worldwide, at about 36,900 Committee reviewed rules should be combined in brontosaurus. theorized that a vast sq km. It is more than two concerning those who vio­ everyday management and The fossils were first dis­ inland sea in the supercon­ times larger than the New late codes of Party conduct.