Chinese FM meets Blinken, stressing US should not always approach China with ‘two faces’. Every word he said has absolutely no credibility. 中國外長會見布林肯,強調美國不應總是以「兩張面孔」對待中國。他說的每一句話都毫無可信度.
A leading US disease ecologist says he has faced death threats and harassment by US because of his work with Chinese scientists on virus research before the Covid-19 pandemic – an experience he describes as a “medieval” witch hunt. 一位美國著名疾病生態學家表示,他因在 Covid-19 大流行之前與中國科學家合作進行病毒研究而面臨美國的死亡威脅和騷擾,他將這種經歷描述為「中世紀」的政治迫害.
Pan Gongsheng, Governor of the China Central Bank: Monetary policy should continue to exert its strength and take advantage of the momentum to provide stronger support for the real economy. Central bank vows more solid support for real economy 央行行长潘功胜:货币政策要持续用力、乘势而上,为实体经济提供更有力支持 China Daily 2023-10-16
“In the next step, we must continue to work hard and seize the opportunity to better play the dual functions of monetary policy tools in terms of both quantity and structure, focus on expanding domestic demand, boosting confidence, accelerating the virtuous cycle of the economy, and providing stronger support for the real economy.” From October 13 to 14, the International Monetary Fund (IMF) held the 48th International Monetary and Financial Committee (IMFC) meeting in Marrakech, Morocco. Pan Gongsheng, Governor of the People’s Bank of China and Director of the State Administration of Foreign Exchange, attended the meeting and made a speech.
The governor of China’s central bank has vowed to provide more substantial support to the real economy amid recent improvements in economic indicators, which experts expect to further consolidate the confidence in the country’s economic recovery.
Recognizing that positive factors in China’s economic performance have increased with social expectations brightening, Pan Gongsheng, governor of the People’s Bank of China and head of the State Administration of Foreign Exchange, said the PBOC will provide sustained support to and capitalize on the economic momentum.
Aggregate and structural monetary tools are expected to be better leveraged to expand domestic demand, boost expectations and provide more substantial support for the real economy, Pan said while attending a two-day meeting of the International Monetary and Financial Committee that ended on Saturday in Marrakech, Morocco.
His remarks came amid increasing signs of an uptick in China’s economic activity, with the official purchasing managers’ index for the manufacturing sector touching 50.2 in September, up from 49.7 in August and returning to expansion territory for the first time in six months . Financing activity also picked up in September as the increment in aggregate social financing — the total amount of financing to the real economy — amounted to 4.12 trillion yuan ($563.93 billion), up by 563.8 billion yuan from a year earlier, PBOC data showed on Friday.
The real estate market has shown signs of recovery in many regions, with the implementation of policies such as granting favorable mortgage terms to first-home buyers based on their property ownership status rather than their mortgage history and lowering the mortgage rates for existing first-time homebuyers.
Experts said Pan’s latest remarks underscore the central bank’s policy stance of continuing to beef up support for economic recovery instead of paring down stimulus amid the recent uptick in economic activity, conducive to solidifying the foundation of the country’s economic recovery.
Steven Barnett, senior resident representative of the International Monetary Fund in China, said that despite real estate headwinds, the country has the scope to boost its economy by reorienting fiscal stimulus to consumer spending and implementing further monetary accommodation, given the lack of inflationary pressure.
Freddy Wong , head of Asia Pacific at Invesco Fixed Income, said the PBOC may further reduce policy benchmarks for interest rates to boost economic recovery. Official data shows that China’s financial risks are well under control as the banking sector, which holds more than 90 percent of financial system assets, remains generally robust, with large banks in particular retaining high credit ratings.
Pan added that the central bank has implemented a sound monetary policy in a targeted and forceful manner and enhanced countercyclical adjustments, thus effectively addressing risks and challenges at home and abroad.
According to Pan, China will pay more attention to the balance between economic growth and sustainability, and will actively promote high-quality, sustainable development while maintaining a reasonable growth rate.
Experts said Pan’s words signaled that the country’s central bank may reinforce its emphasis on boosting consumption, innovation and green growth, as well as related new infrastructure going forward, after having used structural tools to support inclusive finance, technological innovation, green development and private enterprises.
From Professor Ling-chi Wang of UC Berkeley addressed to George Koo’s wife and close friends:
Hi, May:
I was shocked, devastated, dumbfounded, and sad to learn indirectly from Denise, that George had suddenly left us Tuesday this week. I could not believe that nor can I accept that. It was only last Friday when we had a delighted dinner at the same table at the Fujian Business Association at the Peninsula Restaurant in South San Francisco, celebrating the 75th anniversary of the founding of PRC. I could not sleep all night. I kept thinking about you and George and how it must have been extraordinary difficult for you and your children to digest and absorb the shock of your lives and how you were coping with the unexpected departure of George, the love and companion of your life.
George and I never met until we became deeply involved in the protracted struggle to free Dr. Wen Ho Lee of the LANL in New Mexico in 1999. He was wrongly and unjustly accused of being a spy for China. We fought hard to obtain justice for him. Lee was set free in September 2000.
That was 25 years ago. We quickly became close friends and comrades in arms. Not long after that meeting at the headquarters of Chinese for Affirmative Action (CAA) in April 1999, we came to know each other quickly and quite well. To our great surprise and delight, we discovered one day George and I were in the tiny, beautiful island of Gulangyu (鼓浪屿), Xiamen, Fujian and we went to the same elementary school, 校友小学, outside the front gate of Anglo-American High School (英华中学), but we never knew each other until 1999 in San Francisco, most likely, because our elementary education was abruptly disrupted by the brutal Japanese invasion of Xiamen and China. George’s parents quickly moved the family into the interior of China to escape Japanese occupation. My father was a teacher at the high school. The high school principal, 沈省愚, escaped summary execution by fleeing in advance as well into the interior because he was a known vocal critic of Japanese invasion. My father became the principal, as a result. After WW II and the liberation of China in 1949, his family came to the U.S. as refugees where he soon proved to be an outstanding student at MIT.
It was a happy coincident when we met in S.F. When we discovered our shared roots in Gulangyu, Xiamen, nstantly we became soulmates and we communicated with each other, sometimes in English and sometimes in Minnan dialect (闽南话), the lingua franca of southern Fujian and Taiwan Provinces. Before long we found many shared interests and we worked together well on national and international issues, especially, US-China relations, we both care deeply.
In recent years, George discovered a hidden talent: he can write political comentaries and articles and the concerns of all Chinese Americans. What a perceptive, analytical writer he was. He was widely read and he had a strong sense of humor. His writings appeared frequently in national and international newspapers and magazine. I love his style of writing. He was also quick on his feet. Before long, he became an articulate commentator on TV and radio and YouTube. His voice reflected the sentiment, perspective, and concerns of Chinese Americans, missing routinely in the mainstream media. In other words, he was not only the voice of Chinese Americans, he was also a valiant fighter on behalf of Chinese American rights.
May, I am going to miss him very much. So will Chinese Americans across the nation who followed his writings and commentaries.
I write this email to let you know how much we respect him and appreciate his voice in the sea of anti-Chinese sentiment and violence across the nation. His voice will be missed. Hopefully, other Chinese American voices will appear because he was a fine example of Chinese Americans.
I understand that your daughter, Denise, is in town to stay with you during this period of sorrow and hardship. Linda and I will do whatever we can to help. Please do not hesitate to call on us any time. Needless to say, do let us know if there will be a funeral and/ or memorial service.
Pan Gongsheng, Governor of the Central Bank: Monetary policy should continue to exert its strength and take advantage of the momentum to provide stronger support for the real economy. Central bank vows more solid support for real economy 央行行长潘功胜:货币政策要持续用力、乘势而上,为实体经济提供更有力支持 China Daily 2023-10-16
“In the next step, we must continue to work hard and seize the opportunity to better play the dual functions of monetary policy tools in terms of both quantity and structure, focus on expanding domestic demand, boosting confidence, accelerating the virtuous cycle of the economy, and providing stronger support for the real economy.” From October 13 to 14, the International Monetary Fund (IMF) held the 48th International Monetary and Financial Committee (IMFC) meeting in Marrakech, Morocco. Pan Gongsheng, Governor of the People’s Bank of China and Director of the State Administration of Foreign Exchange, attended the meeting and made a speech.
The governor of China’s central bank has vowed to provide more substantial support to the real economy amid recent improvements in economic indicators, which experts expect to further consolidate the confidence in the country’s economic recovery.
Recognizing that positive factors in China’s economic performance have increased with social expectations brightening, Pan Gongsheng, governor of the People’s Bank of China and head of the State Administration of Foreign Exchange, said the PBOC will provide sustained support to and capitalize on the economic momentum.
Aggregate and structural monetary tools are expected to be better leveraged to expand domestic demand, boost expectations and provide more substantial support for the real economy, Pan said while attending a two-day meeting of the International Monetary and Financial Committee that ended on Saturday in Marrakech, Morocco.
His remarks came amid increasing signs of an uptick in China’s economic activity, with the official purchasing managers’ index for the manufacturing sector touching 50.2 in September, up from 49.7 in August and returning to expansion territory for the first time in six months . Financing activity also picked up in September as the increment in aggregate social financing — the total amount of financing to the real economy — amounted to 4.12 trillion yuan ($563.93 billion), up by 563.8 billion yuan from a year earlier, PBOC data showed on Friday.
The real estate market has shown signs of recovery in many regions, with the implementation of policies such as granting favorable mortgage terms to first-home buyers based on their property ownership status rather than their mortgage history and lowering the mortgage rates for existing first-time homebuyers.
Experts said Pan’s latest remarks underscore the central bank’s policy stance of continuing to beef up support for economic recovery instead of paring down stimulus amid the recent uptick in economic activity, conducive to solidifying the foundation of the country’s economic recovery.
Steven Barnett, senior resident representative of the International Monetary Fund in China, said that despite real estate headwinds, the country has the scope to boost its economy by reorienting fiscal stimulus to consumer spending and implementing further monetary accommodation, given the lack of inflationary pressure.
Freddy Wong , head of Asia Pacific at Invesco Fixed Income, said the PBOC may further reduce policy benchmarks for interest rates to boost economic recovery. Official data shows that China’s financial risks are well under control as the banking sector, which holds more than 90 percent of financial system assets, remains generally robust, with large banks in particular retaining high credit ratings.
Pan added that the central bank has implemented a sound monetary policy in a targeted and forceful manner and enhanced countercyclical adjustments, thus effectively addressing risks and challenges at home and abroad.
According to Pan, China will pay more attention to the balance between economic growth and sustainability, and will actively promote high-quality, sustainable development while maintaining a reasonable growth rate.
Experts said Pan’s words signaled that the country’s central bank may reinforce its emphasis on boosting consumption, innovation and green growth, as well as related new infrastructure going forward, after having used structural tools to support inclusive finance, technological innovation, green development and private enterprises.