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BEIJING Juan Iturbe AS Roma Jersey , Jan. 29 (Xinhua) -- China said it will train farmers in an effort to promote the innovation-driven development and supply-side structural reform in the agricultural sector.

The general office of the State Council has issued a circular on promoting the development of hi-tech agricultural industrial demonstration zones.

The document, made public on Monday, said such development should be guided by the country's innovation-driven development strategy and the rural vitalization strategy.

The main focuses should be promoting efficiency, increasing farmers' incomes and boosting green development in the agricultural sector, it said.

Scientific and technological innovation should be used to solve the prominent problems constraining China's agricultural development, the circular said.

It pledged greater efforts in promoting integration and sharing Hector Moreno AS Roma Jersey , more research and educational resources, better information services and enhanced international cooperation in developing hi-tech agricultural industrial demonstration zones.

The authority will also give support in terms of finance, land use and technological management for the development of the hi-tech agricultural industrial demonstration zones, according to the circular.

BEIJING, Jan. 29 (Xinhua) -- A century-old Chinese bank became the latest target of a tightening financial clean-up in the world's second largest economy.

China's banking regulator has fined Postal Savings Bank of China (PSBC), along with 11 other related banks Gregoire Defrel AS Roma Jersey , a total of 295 million yuan (about 46 million U.S. dollars) over a bill fraud case in the northwestern province of Gansu.

Probes into a PSBC sub-branch in Wuwei City in December found 7.9 billion yuan worth of bills were involved and another 3 billion yuan of wealth management funds were illegally drawn or embezzled, according to the China Banking Regulatory Commission (CBRC).

It was the third major penalty on domestic lenders since December, following a 462-million-yuan fine imposed on a branch of Shanghai Pudong Development Bank for illegally covering up bad loans and a 722-million-yuan fine for China Guangfa Bank for offering illegal guarantees for defaulted corporate bonds.

The hard action suggests an even tougher stance on risk control by the government, which has already taken a hardline on financial violations and accumulating risk for the past year.

The CBRC listed 10 regulatory tasks for 2018, ranging from shrinking corporate debts to cracking down on illegal activities to curbing property bubbles.

While risks are generally manageable, non-performing assets Gerson AS Roma Jersey , imperfect internal control, shadow banking and other hidden dangers still pose threats to financial stability, CBRC chairman Guo Shuqing has said, warning of hidden dangers of "gray rhinos" and "black swans."

Two other main financial regulators also moved swiftly in stepping up supervision in the mean time.

The China Securities Regulatory Commission has started to take rigorous approval procedures for initial public offerings (IPOs) since a new public offering review committee came into office in October, rejecting or suspending more than half of IPO applications. During the previous week, only three of 18 businesses were given the greenlight.

Over the past three years Federico Fazio AS Roma Jersey , the approval rate stood above 90 percent, according to Wind Info, a financial information service provider.

The insurance regulator rolled out new rules to toughen regulation over insurance funds, with the aim of directing more capital into the real economy. Outbound investment of insurance funds will be under scrutiny, and shareholders of insurance firms will be banned from interfering in the operation.

Prevention of financial risks is key for China to win what policy makers called the three tough battles, during the tone-setting Central Economic Work Conference in December Emerson AS Roma Jersey , namely controlling risks, reducing poverty and tackling pollution.

Liu He, a member of the Political Bureau of the Communist Party of China Central Committee, stressed financial risk control in his speech at the World Economic Forum in Switzerland.

"Shadow banking and hidden debt for local governments are serious problems we have to deal with," he said. "In about three years, we will strive to bring the overall leverage ratio under effective control Edin Dzeko AS Roma Jersey , make the financial system more adaptable and better serve the real economy, prevent systemic risks and facilitate better flow of economic activities."

Thanks to the efforts, progress has been made. The country's overall leverage ratio growth has slowed down, and outstanding loans from shadow banking have begun to decline.

Robin Xing, chief China economist with Morgan Stanley, said the situation was improving and risks would remain under control.

"Policy tightening and related financial sector clean-up policies have helped to control financial risks Diego Perotti AS Roma Jersey ," he said.

Xing estimated that China's debt to GDP ratio would peak in the second half of 2019.





by Shen Zhonghao

FRANKFURT, Dec. 31 (Xinhua) -- Eurozone economy is expected to grow by about 1.6 percent in 2016, slightly stronger than market expectations, partly thanks to the perseverance of the European Central Bank (ECB) in pumping money into the market through a bond-buying program since January 2015.

Of equal significance, the year 2016 has been the first full year that the eurozone's gross domestic product (GDP) was back to its pre-crisis size.

Risks, however Daniele De Rossi AS Roma Jersey , have also markedly rised in 2016 in the 19-country eurozone.

"Much of the concern in the eurozone now centers on the euro," banking giant HSBC said earlier in a special report.

In the second half of 2016, the euro fell to the lowest level in years. "Politics is set to become a bigger driver of the euro from here," HSBC said. Cheap Liverpool FC Jerseys   Wholesale Leicester City Jerseys   Wholesale Juventus Jerseys   Wholesale Real Madrid Jerseys   Wholesale Inter Milan Jerseys   Wholesale Chelsea Jerseys   Wholesale Atletico Madrid Jerseys   Wholesale Arsenal FC Jerseys   Wholesale Sevilla FC Jerseys   Wholesale Manchester United FC Jerseys 


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