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China has less motivation to further stimulate economic growth, but the government needs to search for more me
thods to control debt and reduce default risks, according to officials and economists.
China’s macroeconomic leverage ratio, or the total debt-to-GDP proportion, rose slightly in the first quarter, but the overall leve
rage level still remained stable, Huang Xiaolong, deputy head of the Financial Stability Bureau of the P
eople’s Bank of China, the central bank, said at a media conference on Wednesday.
Recent research from the Chinese Academy of Social Sciences s
howed that by the end of March, the macro leverage ratio climbed to 248.83 percent from 243.7 p
ercent in 2018, as the government utilized several easing policies to support GDP growth in the first three months
To celebrate the Dragon Boat Festival, which falls on June 7, the fifth d
ay of the fifth lunar month on the traditional Chinese calendar, foreign students from the C
hinese Culture and Literature School at Nankai University learned to make zongzi, or pyramid-shaped glu
tinous rice dumplings wrapped in reed leaves, and weave five-color strings to appreciate Chinese culture on June 3.
Students learned about the festival and its origins, as well as dragon b
oat racing, hanging calamus and wormwood, and drinking realgar wine.
The school has more than 700 foreign students
from 60 countries and regions, and regularly organizes events, such as flying kites and making mooncakes, to c
elebrate traditional Chinese festivals, helping the students learn and experience traditional Chinese culture.
tions Research Institute, said that against the backdrop of growing globa
l discord, Xi’s visit demonstrates the strategic relationship of the two countries.
During Xi’s visit, the two leaders will attend a series of events commemorating the 70th anniversary of the establishment of bilater
al ties, which will include the official opening ceremony of a panda facility at Moscow Zoo, Zhang said. A pair of gia
nt pandas were delivered to Moscow Zoo in April for research cooperation.
St. Petersburg State University, Putin’s alma mater, will award Xi an h
onorary doctorate during the visit, Zhang said. P
utin was granted the same honor by Tsinghua University, Xi’s alma mater, in April.
ouths who traveled rose by 101 percent year-on-year, compared with 50 per
cent among peers in bigger cities, according to major online travel agency Ctrip.
Ruan Tianying, deputy general manager of Western-style food chain Houcaller, said t
hat with fastgrowing urbanization in China, lower-tier cities definitely offer great potential.
Houcaller, founded in Xiamen, Fujian province, in 1993, plans to operate about 400 store
s in 100 Chinese cities, with more than two-thirds of them located in lower-tier centers by the end of this year.
Ruan said consumption per capita at Houcaller outlets is about
60 yuan, and about 80 percent of its more than 30 million customers a year are age 36 or younger.
“Opening a restaurant involves different factors, so we cannot reach lower-tier cities as quick
ly as fast-moving consumer goods do,” he said, adding that in these cities, the market still needs to be educa
ted about eating Western-style food, which involves a different dining etiquette from Chinese food.