Beijing Review - 29.08.2019

6 BEIJING REVIEW AUGUST 29, 2019 http://www.bjreview.com

THIS WEEK

Railway Exchange

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countries participating in the Belt
and Road Initiative came to China
to take part in a training on railway
construction and management, ac-
cording to local authorities.
Organized by the Ministry of
Commerce, the three-week training
was held in three Chinese cities:
Chengdu, capital of southwest
China’s Sichuan Province, Hefei,
capital of eastern province of Anhui,
and Shanghai.
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or transport sectors of Burkina Faso,
the Czech Republic, Laos, Mauritius,
Mongolia, Mozambique, Sri Lanka,
Sudan, Thailand, Uganda and Viet
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returned to their countries from
Shanghai on August 14.
Gerard Constant Emmanuel
Guigma, technical director of Burkina
Faso’s transport department, said
China has overcome complicated

natural environments and built a

strong railway network, which has at-

tracted worldwide attention. He said

he expects more cooperation with

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“The training is a manifestation

of mutual trust, cooperation and

common development between

China and other countries under the

Belt and Road Initiative,” said Luo

Zhaoxin, director of the international

education and training center of

China Railway Eryuan Engineering

Group Co. Ltd., one of the training

agencies.

“We would like to work with of-

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a platform for exchanges and coop-

eration and promote the sustainable

development of railway projects in

their countries,” Luo added.

Cutting Costs

The People’s Bank of China (PBC)

unveiled a plan to improve and

reform the country’s loan prime rate

The PBC plan came after the

State Council decided on August 16

to take market-oriented reform mea-

sures to reduce real interest rates

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To ensure that the new plan is

well implemented, enterprises can

report banks’ practices of setting an

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regulators and self-disciplinary

industrial bodies.

Green Logistics

The logistics services in China have

become more environmentally

friendly as packages for express

delivery are becoming more

recyclable and transport greener,

according to the State Post Bureau

(SPB) on August 14.

By the end of June, 96 percent

of courier deliveries were using

digital waybills, while 45 percent

of products sold on e-commerce

platforms had given up secondary

packaging, said Liu Jun, SPB Deputy

Director.

China has also deployed waste

sorting devices to nearly 10,

courier service branches and built a

number of green distribution centers

to save land, energy and water

resources, Liu said.

New-energy vehicles (NEVs)

are also used widely in the courier

sector, with the number reaching

20,000, according to Liu.

“We encourage the courier

sector to use NEVs and vehicles

meeting higher emissions standards

and gradually raise the use of NEVs

in express delivery,” he said.

IP Pledge Financing

China’s banking and intellectual

property (IP) regulators have de-

cided to jointly boost the use of IP

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development of innovative enter-

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August 16.

Released by the China

Banking and Insurance Regulatory

Commission, it encouraged banks

and insurers to grant greater support

ECONOMY

(LPR) mechanism on August 17, in its

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for the real economy.

Introduced in 2013 and posted

every trading day, the LPR functions

is a market-based reference for lend-

ers to set their loan interest rates.

Starting on August 20, the

National Interbank Funding Center

will disclose the new LPR at 9:30 a.m.

on the 20th day of each month, ac-

cording to a statement by the PBC.

In addition, the number of quo-

tation banks will be expanded from

10 to 18, including national banks

as well as urban commercial banks,

rural commercial banks, foreign-

invested banks and private banks, to

improve the LPR’s representation.

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available in addition to the current

one-year LPR to serve as pricing

references for new bank lending, the

PBC said.

Banks should take the LPR as the

major lending rate reference when

issuing loans, the statement said.

XINHUA

Country Road

A country road in Zaoqiang County, north China’s Hebei Province, under construction on August 15. Once the road is
completed, it will promote the sale of agricultural products and accelerate the pace of rural revitalization.