ercent from 8.1 percent at the end of December, the central

It’s hard to say that China entered a new cycle of credit expansion,” said Zhang Ming, chief eco

nomist at Ping An Securities. “For the whole year, the overall financing growth and money supply is expected to stabilize.”

Fast credit expansion means higher pressure on companies to repay debt and interest, and the space for sustainable credit growth i

s limited, given the current leverage level. Total outstanding debt has exceeded 250 percent of GDP, Zhang said.

The good news is that credit has been channeled effectively into the production sector, such as manuf

acturing and high-tech, and the healthier credit structure can support the overall economic r

estructuring reform, said Ruan Jianhong, head of the central bank’s statistics and analysis department.

hina and the United States will continue economic and trade consultations in Washington ne

xt week, after reaching consensus in principle on major issues during their high-level Beijing talks, State media reported.

According to Xinhua News Agency, the two sides had in-depth communication on topics of mutual concern including tec

hnological transfers, intellectual property rights protection, nontariff barriers, the service industry, agr

iculture, the trade balance and an implementation mechanism, as well as on particular issues of concern to China.

www.hdflower.net.cn

Five more lunar locations get Chinese nameon Jan

ive more geographical entities on the moon have been given Chinese names, based on discoveri

es from China’s latest Chang’e 4 mission, according to a news conference on Friday.

The China National Space Administration, Chinese Academy of Sciences and International Astronomical Union held a j

oint news conference Friday to announce the five names approved by the IAU on Feb 4.

The landing site of the Chang’e 4 probe is named Statio Tianhe, and three annular pits around the landing site are called Zhin

yu, Hegu and Tianjin. The central peak in the Von Karman Crater is referred to as Mons Tai.

The five places are clearly shown on high-resolution images based on data from the Chang’e 2 and Chang’e 4 missions.

China’s Chang’e 4 probe, launched on Dec 8, landed on the Von Kar

man Crater in the South Pole-Aitken Basin on the far side of the moon on Jan 3.

Tianhe, another name for the galaxy in ancient China, implies that th

e Chang’e 4 probe served as a pioneer in the history of human lunar exploration.

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chin, who are here for a new round of China-US high-level econ

hina would like to address the problems of economic and trade frictions with the United States in a co

operative way to promote the conclusion of a deal accepted by both sides, President Xi Jinping said on Friday.

Xi made the remark while meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mn

uchin in Beijing. The meeting came after the conclusion of two days of high-level economic and trade consultations.

Xi added that certain principles are necessary for cooperation.

Chinese and US consultation teams made important progress for the current stage, a

nd the two negotiating teams will meet again in Washington next week for fur

ther discussions, Xi said. He added that the both nations should make more efforts for a win-win deal.

The two countries’ economic and trade teams have had frequent and helpful consultatio

ns since December, Xi said. He has emphasized many times that cooperation is the best choice for China and the US.

Cooperation will bring benefits to the two countries while conflicts will injure both sides, he added.

www.ax153.cn

Promising progress needs pushing forward to a deal Chin

In welcome news, it seems that the latest talks between China and the United States, which concluded on Friday, have further na

rrowed their differences and expanded their common ground on key trade and economic issues.

The two sides entered the two days of high-level talks on Thursday amid a flurry of positive sig

nals that progress was being made. And it seems that their candid discussions have continued to be rewarded.

There has clearly been movement on a number of topics that have been the focus of their recent tra

de rows. Speaking to President Xi Jinping after the talks wrapped up, US Trade Representative Ro

bert Lighthizer said the negotiators “feel we have made headway on very, very important and difficult issues”.

It is probably still too early to conclude that this heralds an end to the long-running trade d

ispute between the two countries, and it would be rash to be overly sanguine about the prospects for re

lations given Washington’s anxieties about China’s rise, which may simply be chann

eled in other ways. But the agreement between Xi and his US counterpart Donald Trump in December to press the pause button on frictions,

and the subsequent intense series of discussions to find ways to stop them escalating, show both sides are aware of ho

w damaging and potentially dangerous it would be to keep locking horns over their trade relations.

ax125.cn

The tariffs imposed on Chinese goods by the US so far hav

ave had a negative impact on the Chinese economy, but it has shown resilience in coping with the shocks, and the repercussions have not been as severe as pred

icted. In January, for instance, Chinese exports rose 9.1 percent from a year earlier, compared with a 3.5 percent declin

e in December, according to customs data released on Thursday. And although its export growth to the US continued t

relations with a deal that is in line with the interests of both countries. If that has been the shared und

erstanding during this week’s talks, and it is carried forward in the negotiations in Wa

shington next week, hopefully the two sides will be able to narrow the differences between them sufficiently so that the t

o drop, no doubt due to the raised tariffs on Chinese goods, China’s shipments to other major

markets, such as the European Union, Japan and Southeast Asia, all rose strongly.

Meanwhile, leyishengpxcn/ions otherwise, the US economy has not rem

ained unscathed, as shown by the need to offer emergency assistance to its farmers and t

he voices of complaint from US companies urging the administration to change tack.

Cooperation based on fully respecting mutual interests is the best way for t

he two countries to renew their trade and economicwo leaders can pencil in a date f

or a meeting at which they can shake hands on a deal that sets the right course for future relations.

ex079.cn

Between each April and October, villagers from Dingri Cou

unty usually set up black tents at the foot of Mount Qomolangma, providing tourists accomodation as a means of earning money.

Though ordinary visitors can’t go beyond the monastery, it won’t affect them from appreciating the mountain.

“The new tent camp for ordinary tourists can still allow them to clearly see the 8,800-meter-plus mountain,” Kelsang said.

Travelers who have a climbing permit can go to the base camp at an altitude of 5,200 meters. Kelsan

g said the mountaineering activities have been approved by the regional forestry department.

Decades after the epic climb to the world’s peak, Tibetans at the f

oot of Mount Qomolangma have conquered poverty by receiving professional and am

ateur mountaineers and tourists, who have also posed an environmental challenge to the mountain.

To conserve the environment surrounding Mount Qomolangma, China c

arried out three major clean-ups at an altitude of 5,200 meters and above last spr

ing, collecting more than eight tonnes of household waste, human feces and mountaineering trash.

www.ex083.cn

hina refutes report of contact with Venezuelan opposition

ina said on Wednesday that it hoped relevant media would report news abiding by principles of being objective and fair.

Chinese Foreign Ministry spokesperson Hua Chunying made the remarks when asked for comments on The Wall Street Jo

urnal reporting that Chinese diplomats had contact with Venezuelan opposition representatives in Washington.

“Recently, some media have been cooking up fake news. I don’t know what the purpose is,” said Hua at a press br

iefing. “We hope relevant media will report news abiding by principles of being objective and fair.”

As for the current Venezuela issue, China advocates seeking a political settlement through dialogue and consultation, Hua said.

www.ax147.cn

Norwegian-born youth predicted to play for China

orwegian-born John Hou Sæter, a midfielder with Beijing Guo’an, received his temporary Chinese ID card Tuesday, becoming the first naturalized Chinese footballer.

Known as Hou Yongyong in China, the 21-year-old is expected to make his Guo’an debut in the Chinese Football Assoc

iation (CFA) Super Cup match between Shanghai SIPG and Beijing Guo’an next weekend, according to The Paper.

Guo’an has also registered him up for the upcoming AFC Champions League.

It has also been predicted that he may receive a national team call-up in the future.

Hou Sæter made his debut for Norwegian side Rosenborg in a domestic cup game against Orkla F

K in 2014. The appearance made him, at 16 years and 101 days, Rosenborg’s youngest ever senior player.

In September 2014 he made his debut in the Norwegian top f

light against Aalesund, coming on as an 81st-minute substitute in a 3-0 win. This made him his sid

e’s youngest ever league debutant, at 16 years and 258 days, beating the previous record by nine days.

Speaking on the speculation that Hou Sæter may one day play for the Chinese national side, h

is mother, Hou Yurong, said that it would be “both my wish and his own choice. I’m always his biggest fan.”

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Former PBOC governor wins 2019 lifetime achievement award

Zhou Xiaochuan, former governor of the People’s Bank of China (PBOC), has won the UK’s 2019 Central Banking lifetime achievement award, according to the publication’s website.

Zhou, the sixth winner of the award, stands out for his high levels of integrity, intellectual ri

gor and bold reforms that have served the public interest in China and elsewhere, said a statement of the website.

The Central Banking Awards were established to recognize outstanding perform

ance in individuals and organizations in the central banking community.

Zhou, who stepped down as PBOC governor in March 2018, had served in his position from

December 2012-2018, which makes him China’s longest serving central bank governor since 1949.

The award recognizes the impact Zhou had on the central bank and the Chinese economy.

“While in office, Zhou demonstrated high levels of integrity in his pursuit of public s

ervice. He brought academic rigor to real-world decision-making, acting as a prag

matic policymaker with a strong sense of what was in the public interest,” the statement said.

www.117xe.cn

Today, the situation is radically different. Space exploration is

nger the prerogative of the US and Russia. Apart from the US, Russia and China, India too has worked out an ambitious plan to put astronauts in space by 2022.

Constantly improving manufacturing and new material technologies have remarkably reduced the cost of space launches. The pr

ivate US company Space X has successfully launched recoverable rockets, and its launch cost per kilogram payload has fallen below $2,000, one-ten

th that of a space shuttle launch. And for China and India, the cost of one rocket launch is less than $5,000 per kg.

Another major change helping space exploration is the advancement in 3D printing technology, which now allows astr

onauts to produce parts and components in the International Space Station and thus reduces the number of sup

ply vehicle launches. 3D printing will play a big role in the construction of a permanent space station on the moon.

These technological advancements have propelled a new wave of space fever ac

ross the world. While US President Donald Trump has reactivated the space ex

ploration program that aims to land humans on Mars by 2033, private space companies such as Space X and Blue Ori

gin have used advanced technologies to their full advantage to move ahead in the space race.

For China, building a permanent space station and a rocket launch platform on the moon will

be critical to advanced space exploration. Actually, China is moving closer to fulfilling that objective.

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