Government to grant more powers to pilot free trade zones to conduct reform Cranes load and unload containers at a busy port within the China (Shanghai) Pilot Free Trade Zone. [Photo/Xinhua] As one of the major aspects of further opening-up, the China (Shanghai) Pilot Free Trade Zone has attracted a large number of international industry leaders to set up operations there, providing substantial help to their development in the country. During the ongoing 19th National Congress of the Communist Party of China, General Secretary Xi Jinping reiterated the importance of free trade zones in a report delivered at the opening session. Xi said the government will grant more powers to pilot FTZs to conduct reform, and explore the opening of free trade ports. Meanwhile, the government will adopt policies to promote high-standard liberalization and facilitation of trade and investment, significantly ease market access, further open the service sector, and protect the legitimate rights and interest of foreign investors. All businesses registered in China will be treated equally, Xi said. As one of the first foreign banks to set up within the Shanghai FTZ, Citibank China has witnessed a number of pioneering and innovative policies in the financial sector over the past four years, according to Pei Yigen, country head of treasury and trade solutions for the bank. These innovations have helped with further opening-up in the financial market of Shanghai, and even nationwide, he said. We are delighted to see that a growing number of multinational companies have set up their Asian accounting and financial centers in Shanghai, and more specifically in the Shanghai FTZ. Last year, Citi China overtook all other domestic and foreign banks with operations in the Shanghai FTZ in terms of the settlement volume of cross-border capital pool business. It also took up 49 percent of the total market value of the cross-border centralized collection and payment business in the zone. The establishment of the Shanghai FTZ has provided a new path for foreign banks in China, Pei said. We are able to come up with more innovations in our businesses and products. Over the past four years, we have helped many multinational companies to enhance the function of their regional headquarters by moving their regional and even global renminbi capital center to Shanghai. We would like to contribute more to the real economy with the platform provided by Shanghai FTZ. World-leading automation technology provider Festo, which is headquartered in Esslingen, Germany, has its Chinese operation located in the Shanghai FTZ. According to Thomas Pehrson, the company's general manager in China, the many reform policies in the zone, especially in the customs sector, have largely reduced its burden and enabled the company to deliver the products and services globally with lower cost. Benefiting from reform and innovations in the Shanghai FTZ, Festo is planning for adjustment in our business in the Asia-Pacific region, he said. Festo China's automation manufacturing plant located in the Shanghai FTZ will shift its focus from manufacturing to research and development, as well as delivery. The existing production center and R&D center in China will be expanded into Festo's Asia-Pacific logistics center and customized production center, he added. wellies and wristbands 2017personalized wristbandsprinted braceletsjordan wristband rubbercustom rubber bands
BEIJING - China is "gravely concerned" over reports that four more launchers for the THAAD anti-missile system were brought into the Republic of Korea without its President Moon Jae-in being informed, Foreign Ministry spokeswoman Hua Chunying said in a news conference in Beijing on Wednesday. Hua reiterated China's resolute opposition against the deployment of THAAD, saying the deployment will severely damage China's security interests and undermine the regional strategic balance. In addition, the deployment "won't help achieving denuclearization of the Korean Peninsula and regional peace and stability, and runs counter to all parties' efforts to solve the issue through dialogue and consultation", Hua said, urging the United States and the ROK to cancel the deployment. Hua was reacting as claims surfaced that the ROK's Defense Ministry "intentionally dropped" mentioning that four more launchers had been deployed for the THAAD in a report to President Moon Jae-in. Moon has ordered a probe at the Defense Ministry, saying it was "very shocking" the launchers had been brought in without being reported to the new government or to the public, presidential Blue House spokesman Yoon Young-chan said on Tuesday. "The Blue House has confirmed that the Defense Ministry intentionally dropped the introduction of four more launchers in its report," Yoon said. Moon took office on May 10 without a transition period because a snap presidential election was held two months after his predecessor, Park Geun-hye, was ousted in a corruption scandal. Moon inherited his defense minister along with the rest of his cabinet from the previous administration. The THAAD battery was initially deployed in March in the southeastern region of Seongju with just two of its maximum load of six launchers. An earlier version of the Defense Ministry report specified the total number of launchers being prepared for deployment and the name of the US military base where the four were being kept, but the reference was removed in the final version delivered to the Blue House, Yoon said. During his successful presidential campaign, Moon called for a parliamentary review of the THAAD system. Reuters contributed to this story (China Daily 06/01/2017 page12)
