The market potential remains huge,” said Dai Bin, direct

The market potential remains huge,” said Dai Bin, direct

or of the China Tourism Academy. “Compared to the United States, w

here 48 percent of its citizens hold a passport, the figure in China is only around 10 perce

nt. It’s estimated that the number of Chinese outbound travelers will reach 230 million in 2030.”

A report published by major Chinese travel agency Ctrip showed th

at 160 million Chinese people have travel plans during the upcoming four-day May Day hol

iday. Thailand, Japan, Vietnam, Taiwan and Indonesia are the top destinations outside the mainland.

Malaysia, which receives around 10 million Chinese tourists annually, began to i

ssue e-visas for Chinese in 2017. “The number of visa stickers on passports of Chinese na

tionals dropped by 70 percent in the first year after the service was introduced, showing its high popularity,” said Han.

Since last year, countries including Australia, New Zealand, Singapore, Turkey, Thailand and Sri Lanka have starte

d to accept visa application documents online and issue e-visas, either a bar code or QR code.

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In order to improve the business environment, the Chi

In order to improve the business environment, the Chi

ese government has launched a series of measures to continually reduce burdens for taxpayers, an

d the annual plan for 2019 is to cut 2 trillion yuan ($300 billion) in taxes and fees.

“Effects have been seen recently. In the first two months, 182.85 billion yuan in taxes and fees were furth

er reduced,” Wang said. “The Chinese tax authority will do all it can to achieve the target.”

“International tax cooperation is not and has never been easy. But we

do need a multilateral approach,” said Vitor Gasp

ar, director of the Fiscal Affairs Department at the International Monetary Fund.

“BRITACOM has a role to play in fostering a multilatera

l cooperation approach to taxes, and it can help tax adm

inistrations share best practices and build a foundation for cooperation,” Gaspar said.

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hina’s smartphone shipments down 4.1% in March

hina’s smartphone shipments down 4.1% in March

China’s smartphone shipments fell 4.1 percent year on year in March to 26.94 million units, dat

a from the China Academy of Information and Communications Technology (CAICT) showed.

Last month, smartphones made up 94.9 percent of all mobile phone shipments in the country, ac

cording to a report from the CAICT, a research institute under the Ministry of Industry and Information Technology.

Despite the mobile phone market shrinking, the drop has been moderated, said the report.

Overall mobile phone shipments went down 6 percent in March, narrowing from the 1

.9-percent slump in February to 28.37 million units, among which 95.1 percent were 4G phones.

Chinese-brand mobile phones accounted for 90.5 percent of total shi

pments last month, up from 90.3 percent in February 2019, according to the report.

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It stated that an expulsion will be given to more seve

It stated that an expulsion will be given to more seve

re forms of academic dishonesty including dissertation plagiarism or fraudulent pap

ers, after a review by the school’s academic committee. This constitutes a much heavier punishment compa

red to the previous measure, which involved recording a demerit on the student’s record in such cases.

The latest revision also added that students with serious acad

emic dishonesty during their education shall be given a warning and put on probation. At the s

ame time, the academic honors and awards previously granted to them will be revoked. Their qualifications for schola

rships and exemptions from admission exams won’t be restored until any punishment has been removed.

Footage of a mother kicking her three-year-old daughter has gone viral on Chinese social media, sparking outcry online.

The video was shot on Monday in Hangzhou

, East China’s Zhejiang province, and began going viral Wednesday.

The daughter has been revealed to be Niuniu, a well-known

child model, who was kicked because she was allegedly “too tired to perform”.

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Shanghai pays highest monthly wages in China ordi

Shanghai pays highest monthly wages in China ordi

Employees in Shanghai earn the highest monthly incomes in China, according to a report by 58 Tongcheng Recruitment Research Institute.

With an average monthly wage of 9,723 yuan ($1,447.64), Shanghai, China’s financial ce

nter, tops the country’s income rankings, the report on talent flow in quarter one said.

New first-tier city Hangzhou in East China’s Zhejiang province came in second, wi

th an average of 8,684 yuan, up 25.77 percent year-on-year – the highest growth rate.

With development of the Guangdong-Hong Kong-Macao Greater Bay Area set to begin, Gu

angzhou in South China’s Guangdong province offers the most job opportunities, up 24.95 percent year-on-year.

Beijing, Shanghai, Guangzhou and Shenzhen remain job seekers’ p

referred locations, with Shenzhen most popular in the first quarter of this year, the report said.

An employment-first policy has been elevated to the status of a macro policy for the first

time in this year’s government work report, and China will pursue the policy with full force in 2

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The internet offers convenience to children, but th

The internet offers convenience to children, but th

 harmful messages online are also seriously influencing them, or even turning them into criminals or victims,” Fang said.

In a case disclosed by the Supreme People’s Court last year, a defendant was sentenced to four years in pr

ison for indecent communications with several girls under the age of 12 online in the name of offering them video classes.

In another case, a 16-year-old boy was sentenced to 22 months in p

rison for selling drugs via QQ, a popular messaging tool, the top court said.

“Considering the disorder of cyberspace, it’s a must to revise the Juve

nile Protection Law,” Fang said. “It’s urgent and necessary to add a special part about juve

nile cybersecurity in the law to clarify each government department’s responsibilities and duties.”

She also urged internet device manufacturers and online serv

ice providers to install software that can block harmful messages to children.

beiwenya.cn

Supply chain finance gets tech edge, to boost private

Supply chain finance gets tech edge, to boost private

Chinese commercial banks are strengthening supply chain finance with the help of tech

nology to solve difficulties at private enterprises, especially small and micro-sized businesses.

Supply chain finance allows a supplier to sell its invoices to a bank at a discount as soon as they ar

e approved by the buyer. This allows the buyer to pay later and the supplier to secure its money earlier.

China Minsheng Banking Corp, a national joint-stock commercial lender – a business entity in which shares

of the company’s stock can be bought and sold by shareholders – is providing comprehensive financial and nonfin

ancial services to private enterprises in the upstream and downstream supply chains.

Downstream supply chain management refers to coordinating the flow of information and goods with clients. It cont

rasts with upstream SCM, which involves coordinating buying activities with suppliers.

The Beijing-based bank has offered solutions adapted to the features and needs of private companies in six industr

ies, including home appliances and pharmaceuticals, since setting up a supply chain finance department last year.

gzbbae.com

hinese firms to sponsor, serve Beijing horticultural expo

hinese firms to sponsor, serve Beijing horticultural expo

Chinese firms are expected to play bigger roles than sponsorship at the the upcoming 2019 Beijing International Horticultural Exhibition.

The expo has finished its sponsorship work, signing contracts worth about 1 billion yuan ($148.8 million) with 25 Chinese f

irms, including Air China and China Mengniu Dairy Company Limited, a record high sum for similar events in the field.

The firms will not only sponsor, but also serve the expo with

products, services and technologies, according to a consultant for the event.

Artificial intelligence firm Baidu will build a high-tech ecology experience pavillon to highlight the importance of environme

ntal protection, while China Telecom will showcase the country’s development in 5G technology.

Slated to kick off on April 29, the 162-day expo is poised to impress an expected 16 million visitors from hom

e and abroad, with a huge collection of plants, flowers and eye-catching pavilions, as well as ideas for green development.

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China’s forex reserves continue to grow in March

China’s forex reserves continue to grow in March

China’s foreign exchange reserves rose to $3.0988 trillion by the end of March, official data showed Sunday.

The amount increased by $8.6 billion, or 0.3 percent from the end of February, according to the State Administration of Foreign Exchange.

China’s peer-to-peer (P2P) lending industry will continue to shrink and cons

olidate due to tighter regulation and weak investor sentiment, Fitch Ratings said in a report.

The number of P2P investors and platforms declined steeply last year after regulators tightened supervision, and Fitch exp

ect more platforms to close or consolidate this year as reforms continue to take effect, leading to a smaller, less fragmented market.

Stronger regulation of P2P companies will be positive over the lo

nger term for a sector that has yet to be tested through economic cycles, the report said.

New regulations will also require many platforms to reduce their

reliance on retail investors, leading to a shift toward wholesale or institutional funding sources.

Lenders with more robust business models, established risk-management capabil

ities and more stable access to funding are likely to gain market share, according to Fitch.

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High school graduates in China normally need to tak

High school graduates in China normally need to tak

o take the national college entrance examination, or gaokao, to be ad

mitted to a university. Independent enrollment was added as an alternative admission met

hod in 2003 to allow some key universities to enroll students based on subjective criteria.

Currently, 90 universities have allocated 5 percent of their enrollment slots to indepen

dent students with special talents. They admit more than 20,000 such students every year.

Tests of academic competence and interviews are usually required. Universit

ies start the independent enrollment process in March, while the gaokao takes place in June.

The gaokao is a highly competitive and stressful test, and in some provinces with large num

bers of high school graduates, a single point can separate more than 1,000 students. The exams create a lot of anxiety amo

ng students and parents, and some will do anything possible, even committing fraud, to be admitted to a better university.

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