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ties brought by the BRI, which by some estimates could be worth 1.8 billion pounds ($2.33 billion) annually to the British economy.
As a financial hub for international infrastructure investmen
t, British firms and international companies based in the UK stand ready to provide many of the ser
vices required along the Belt and Road, especially as it becomes more of a shared venture, she said.
They can also provide private financing required by the project and support thro
ugh green finance, consultancy, rule of law and foreign exchange, McGuinness added.
Seventy years after the founding of the People’s Republic of China, ties between China and UK h
ave gone from strength to strength, with bilateral trade now worth nearly 70 billion pounds, McGuinness said.
“I look forward to celebrating this long, fruitful relationship with our Chinese counterp
arts, and to marking the next chapter of our partnership in the Belt and Road,” she added.
pply (M2),” said Sheng Songcheng, a central bank adviser and a former director of the central bank’s statistics department.
The central bank released M2 data on Friday, which recorded a 13-month high of 8.6 percent by the end of March, accelerating from 8 percent by February.
Aggregate social financing, a gauge to measure broader financial activities including trust funds and local govern
ment bonds, also grew faster than market expectations. That total financing amount grew to 2.86 trillion yuan in Mar
ch, or a 11.1 percent growth from a year earlier, compared with 10.6 percent in February, said the central bank.
“According to the latest economic data, there is less necessity for RR
R cuts, but it requires further observation on future changes,” said Sheng.
If the central bank further cuts the RRR, when economic growth is already stabilized, inflation wi
ll surge, and possibly lead to funds flowing into the property sector instead of supporting the real economy, he added.
convicted of incitement to commit public nuisance.
Judge Johnny Chan Jong-herng handed down the verdicts. The court will h
ear defendants’ petition in the afternoon. The date for sentencing has not yet been revealed.
According to the Crimes Ordinance and the Criminal Procedure Ordinance, each charge carries up to seven years’ imprisonment.
The illegal Occupy protests saw massive sit-ins on Tim Mei Avenue and Fenwick Pier Street – major thoroughfares linking Wan Cha
i and Central – between Sept 28 and Dec 11 of 2014. It put the city in a standstill for 79 days.
China will lower the tax rates on a range of goods brought or mailed b
y individuals into the country, including food, medicines, textiles and information technol
ogy products, the Customs Tariff Commission of the State Council announced Monday.
Starting Tuesday, the tax rate on inbound articles included on the No 1 taxable
item list, which includes books, computers, food, furniture and medicines, will be reduc
ed to 13 percent from the previous 15 percent, the commission said in an online statement.
Some medicines that are currently subject to a 3-percent import value-added tax r
ate, including anti-cancer drugs and medicines for rare diseases, will enjoy favorable tax rate.