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accelerate the process to fully lower the market access threshold for foreign investments in
banking, securities and insurance, the premier said. Service sectors, including medical care and educ
ation, will be opened up along with transportation, infrastructure and energy, he said.
Li said China will further make it easier for foreign companies to set up a venture capital presence and will improve regulati
ons on foreign investors’ strategic investments in listed companies and their mergers with and acquisitions of domestic enterprises.
Also, preferential policies for investments from Hong Kong, Macao and Taiwan w
ill remain unchanged, and greater development opportunities will be offered for them, Li said.
Wang Huiyao, president of the Center for China and Globalizaton, said he was impressed by Li’s speech to cl
ean up rules and regulations inconsistent with the Foreign Investment Law as well as to launch a more streamlined negative list.
“It shows China’s attitude of further opening-up, which is a higher-level and more concrete commitment of China,” he said.
Leif Johansson, chairman of global biopharmaceutical giant AstraZeneca, said
Li’s speech reflects the determination to create a more open, fair and transpare
Cooperation at the ministry’s Office for International Military Cooperation, said that comp
ared with other branches of the military, the PLA Navy plays a relatively larger role in protecting China’s overseas inter
ests and maintaining security in key sea lanes such as the Gulf of Aden and waters off Somalia.
“The PLA Navy is at the forefront of proving that the Chinese milita
ry is an open, cooperative and competent force for peace,” he said, adding that the PLA Navy has f
requently participated in humanitarian rescue missions, naval escorts, joint exercises and exchanges in past years.
“Through these non-war military operations, the Chinese Navy has also improved its capability and operability in dis
tant waters,” Zhou said. “Many security issues around the world require global efforts, and as its capability impr
oves, the PLA Navy can play a bigger part and contribute more to global maritime security.”
nts in Sichuan, Shaanxi and Shandong provinces as well as Beijing will eventually be able to sell bonds at count
ers in commercial banks directly to retail investors, and the practice will be expanded nationwide after an additional period of time.
The ministry said individuals do not need to pay taxes on the bonds’ interest income, and this policy is likely to attract more investors.
Selling local government bonds to retail investors should facilitate liquidity
in the secondary market, improve the market-oriented bond pricing mechanism and pu
sh issuers to enhance the quality of information disclosure, said Amanda Du, a Moody’s vice-president and senior analyst.
“Higher coupon rates compared with treasury bonds, and the tax exemption on the interest income, make
local government bonds more attractive for retail investors,” she said. “The fast takeup by retail investors also indicates that the
bonds have won high recognition among individual buyers, supported by the local governments’ high credit ratings.”
levated China’s ties with Italy, Monaco and France to a new level, and injected new impetus into China-Europe compreh
ensive strategic partnership, Chinese State Councilor and Foreign Minister Wang Yi has said.
When the world is undergoing profound changes unseen in a century, Xi’s Europe tour, hailed b
y the international community, is dedicated to deepening partnership for cooperation, improving global governance, and uphol
ding multilateralism, which shows China’s sense of responsibility as a major country, Wang said.
In six days, the Chinese president attended over 40 events during his visit to five cities including Rome, Palermo, Monaco, Nice a
nd Paris, Wang noted, adding that it is a trip of friendship, cooperation and exploration that has delivered fruitful results.
This year marks the 15th anniversary of the China-Italy comprehensive strategic
partnership, and next year will witness the 50th anniversary of China-Italy diplomatic relations.
At meetings with Italian President Sergio Mattarella and Prime Minister Giuseppe Conte, Xi agreed with them to further i
ntensify high-level exchanges, consolidate political mutual trust, and elevate bilateral relations, Wang said.