Page 13 - Wang Su News Today

Beijing will hand out 40 million yuan (about 6.27 million U.S. dollars) in digital currency to consumers in the city through a lottery system, the Beijing Local Financial Supervision and Administration Bureau announced.   A total of 200,000 digital red envelopes, each containing 200 yuan of digital currency, will be given to lottery winners in the digital renminbi (RMB) pilot program, said the bureau.   Individual consumers in Beijing can sign up for the lottery through the mobile application...

Chinas Ministry of Culture and Tourism on Wednesday released the 14th five-year plan for the development of various sectors, laying out the overall requirements, development goals, major tasks and measures for the 2021-2025 period.   The plan sets out the major tasks of developing culture and tourism, including advancing social civility, establishing artistic creation systems for a new era, improving the protection, inheritance and utility of cultural heritage, and enhancing the modern tourism...

The Peoples Bank of China, the central bank, has urged commercial banks to abandon the London Interbank Offered Rate for dollar-denominated loans having a floating-rate benchmark.   The PBOC has also asked the banks to complete the Libor transition as and when financial regulators in the United Kingdom abandon the benchmark. It has also allowed banks to shift from Libor into the Secured Overnight Refinancing Rate, or Sofr, a rate based on repo market transactions recommended by the Alternative...

Screenshot taken on June 2, 2021 shows the online launch ceremony of Huaweis operating system HarmonyOS 2 for smartphones in Shenzhen, south Chinas Guangdong Province. (Xinhua/Li Sijia)     -- As a next-generation operating system for smart devices, HarmonyOS provides a common language for different kinds of devices to connect and collaborate, providing users with a more convenient, smooth, and secure experience.   -- Huawei expects the number of devices equipped with HarmonyOS to reach 300 ...

China has made a start in reversing excessive capital flows into the real estate market, with the top banking and insurance regulators measures to rein in funneling of business loans into property financing bearing fruit.   "Property lending portfolio of lenders increased by 10.5 percent on a yearly basis by the end of April, with the growth rate hitting an eight-year low," said Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, at a news conference on Tuesday. ...

U.S. firms are facing rising costs and labor shortages amid supply chain disruptions, according to a Federal Reserve survey released on Wednesday.   "Several Districts cited the positive effects on the economy of increased vaccination rates and relaxed social distancing measures, while they also noted the adverse impacts of supply chain disruptions," the Fed said in its latest survey on economic conditions, known as the Beige Book, based on information collected from its 12 regional reserve ba...

Pakistan and Tajikistan agreed here Wednesday to further deepen their bilateral relations in diverse fields with a special focus on promoting trade and economic cooperation, said a joint declaration issued by the Prime Minister Office of Pakistan.   According to the declaration, both sides reached the understanding during a meeting between Pakistani Prime Minister Imran Khan and Tajik President Emomali Rahmon where they reaffirmed the fraternal ties between the two countries.   A Tajik delega...

The General Office of the State Council has issued a guideline on adopting scientific measures as part of Chinas afforestation efforts to fundamentally improve the countrys natural environment.   The guideline highlights 14 measures related to various fields of scientific afforestation, including planning, land arrangement, utilization of water resources, selection of green species, vegetation restoration, returning farmland to forest and grassland, and innovative evaluation.   It urges effor...

Multiple government agencies have planned measures to safeguard the college entrance exam across China, according to the Ministry of Education on Wednesday.   Security risks concerning exam management should be dealt with, especially those concerning the production, transportation and storage of exam papers, the ministry noted.     It called for detailed epidemic containment solutions during the exam and stressed contingency plans in areas with potential risks of extreme weather.   A campai...

Indias GDP growth for the financial year 2020-21 was revised to -7.3 percent from -8 percent, as the country registered a 1.6-percent economic growth in the January-March quarter, according to government data released recently.   However, the signs of economic recovery India witnessed during the last quarter of the financial year are being erased by a rampant second wave of the COVID-19 pandemic.     At present, India continues to record over 100,000 new COVID-19 cases each day. Amid the sec...