nts in Sichuan, Shaanxi and Shandong provinces as well as Beijing will eventually be able to sell bonds at count
ers in commercial banks directly to retail investors, and the practice will be expanded nationwide after an additional period of time.
The ministry said individuals do not need to pay taxes on the bonds’ interest income, and this policy is likely to attract more investors.
Selling local government bonds to retail investors should facilitate liquidity
in the secondary market, improve the market-oriented bond pricing mechanism and pu
sh issuers to enhance the quality of information disclosure, said Amanda Du, a Moody’s vice-president and senior analyst.
“Higher coupon rates compared with treasury bonds, and the tax exemption on the interest income, make
local government bonds more attractive for retail investors,” she said. “The fast takeup by retail investors also indicates that the
bonds have won high recognition among individual buyers, supported by the local governments’ high credit ratings.”
levated China’s ties with Italy, Monaco and France to a new level, and injected new impetus into China-Europe compreh
ensive strategic partnership, Chinese State Councilor and Foreign Minister Wang Yi has said.
When the world is undergoing profound changes unseen in a century, Xi’s Europe tour, hailed b
y the international community, is dedicated to deepening partnership for cooperation, improving global governance, and uphol
ding multilateralism, which shows China’s sense of responsibility as a major country, Wang said.
In six days, the Chinese president attended over 40 events during his visit to five cities including Rome, Palermo, Monaco, Nice a
nd Paris, Wang noted, adding that it is a trip of friendship, cooperation and exploration that has delivered fruitful results.
This year marks the 15th anniversary of the China-Italy comprehensive strategic
partnership, and next year will witness the 50th anniversary of China-Italy diplomatic relations.
At meetings with Italian President Sergio Mattarella and Prime Minister Giuseppe Conte, Xi agreed with them to further i
ntensify high-level exchanges, consolidate political mutual trust, and elevate bilateral relations, Wang said.
A memorial service was held on Wednesday for victims who died in a chemical plan
t explosion seven days prior in Xiangshui township, Yancheng city, East China’s Jiangsu province.
More than 200 officials, police officers, firefighters, bereaved families and volunteers attended the serv
ice at 7:30 am. The cars at the site honked their horns and attendees presented flowers to pay tribute to the victims.
To date, the deadly explosion of Jiangsu Tianjiayi Chemical Co in Yancheng’s Xiangshui county has claimed 78 lives.
According to Chinese tradition, the seventh day after a death marks the height of the mourning period.
subsidies continue gradual phase-out
China will whittle down subsidies on new energy vehicles as the industry develops and cost drops, aiming to boost high-quality development in the NEV sector.
The newest measure will lower subsidy standards for new energy passenger cars, buses and t
rucks, taking factors such as industry growth, cost reduction and subsidy phase-out policies into consideration, the
Ministry of Finance said in a joint statement Tuesday, adding the move was set to bring more competition in the industry.
back the motion. Richard Harrington, who resigned as a junior business minister, accused the government of “playing roulette with the lives and liveli
hoods of the vast majority of people in this country” by failing to resolve Britain’s Brexit impasse.
The government said it was disappointed by the vote, claiming it “upends the balance
between our democratic institutions and sets a dangerous, unpredictable precedent for the future.”
But it also conceded that the new votes might be a way to break the months-long Brexit gridlock. May said she would “engage
constructively” with the results of the process, though sahe said she was skeptical that it would produce a decisive result.
The move raises the chances that Britain will tack toward a softer Brexit, and is likely to be welcomed by th
e EU. Guy Verhofstadt, the European Parliament’s Brexit coordinator, tweet that it was an “opportunity to build a cross-party coope
ration leading to an enhanced political declaration & a closer future relationship!”Earlier in the day, May ack
nowledged, “with great regret,” that her deal still lacked “sufficient support” to be approved as of Monday.