Month: February 2019 (page 1 of 5)
of the sector with a focus on improving financial services and forestalling financial risks.
Opening-up of China’s financial factor has sped up, as the country re
moved foreign ownership caps of banks and financial asset management firms last year.
Richard Turnill, global chief investment strategist of BlackRock, an American global investment man
agement corporation, is also positive on China’s stocks market, according to the Barron’s report.
Turnill said stronger inflows into Chinese A-shares, and China’s efforts to boost credit growth and sti
mulate its economy are also helpful to a bullish stock market.
However, selectivity of stocks is needed, Turnill said, adding that BlackRock favors b
rokers and companies related to the domestic consumer that can benefit from the efforts to stimulate growth locally.
Major securities traders in China, such as the Merchants Securities, CITIC Securities, and Fo
under Securities are all optimistic about China’s stocks market this year, according to a report from finance.sina.com.
China and the United States are expected to come to an agreement soon over trade frictions, analysts said, as the negotiating teams a
re reported to be discussing the wording of an accord and considering applying the brakes to their tariff standoff.
They made the prediction after Chinese and US officials said there had been concrete p
rogress on multiple issues in the latest round of trade talks in Washington.
During the latest talks, held from Thursday to Sunday in Washington, the seventh round since February of last year, th
e two sides focused on the text of an agreement, the Chinese delegation said, according to a Xinhua News Agency report.
The negotiators also had made substantial progress on such specific issues as technology transfers, protection of i
ntellectual property rights, nontariff barriers, the service industry, agriculture and exchange rates, the delegation said.
On the basis of the latest progress, the two sides are expected to continue their work
into the next stage, in accordance with the instructions of the two countries’ top leaders, according to Xinhua.
systemic financial risks, are the fundamental tasks of financial work, calling for accelerated construction of the fina
ncial market infrastructure and advanced efforts to nationalize key information infrastructure in the sector.
He also urged solid statistics in the financial sector and improvement in the warning system and rules on information disclosure and management.
Education and supervision of senior officials of financial institutions and regulators sh
ould be enhanced, and more should be done to fight corruption in the financial sector, Xi said.
He called for dynamic supervision of domestic and cross-border capital flow to enable financial watchdogs to fully monitor all flows.
Xi said tasks for the reform and opening-up of the financial sector should be well implem
ented, calling for the preparation and the rolling-out of new reform and opening-up measures based on
the latest development of global economy and finance as well as the strategic needs of China.
Reforms including revamps on market access system and trading regulations should be deepened, and regulators should take a two-pronged appr
oach of enforcing both macro-prudential management and micromanagement of behaviors, he said.
He said those causing major financial risks due to their breaches such as lax regula
tion, cover-ups or decision-making failures must be held accountable and face serious punishment.
Efforts should be made to address the current situation where the costs of legal and
regulatory breaches in the financial sector, especially capital markets, are too low, Xi said.
Xi urged enhancing the global competitiveness of China’s financial sector, elevating the two-way opening-up to a highe
r level and beefing up capabilities of financial management and risk prevention and control amid greater opening-up.
But dreams of a new reality for Iran screeched to a halt in May 2018 when President Donald Tr
ump pulled the United States out of the nuclear deal. Despite repeated certifications that Iran was
sticking to its end of the bargain, Trump unleashed several rounds of stinging sanctions on the country.
The US president said the penalties aimed to force Iran to end its military adventurism in the region, a demand that Iranian officials have repeatedly brushed off.
Officially, the sanctions exempt humanitarian goods, such as food, medicine and medicin
al instruments. But in reality, shortages in essential goods have affected households across the country.
Ali now gets the medicines to treat his daughter’s rare genetic disease, from friends living abr
oad. Her medical bill has more than doubled, forcing him to sell his car, work two jobs, and accu
mulate loans. He says that his entire salary from his day job as a waiter goes toward Dory’s treatment.
”I am a wedding singer at night. I try to stay cheery and
keep a smile on my face, but on the inside all I can think about is my daughter,” says Ali.