Monthly Archive February 2019

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Austrian companies embrace China’s winter sports sector

According to the ambitious plan released by the General Admi

nistration of Sport of China in 2016 to construct winter sports infrastructure and popularize winter spor

ts, at least 650 skating rinks and 800 ski resorts are expected to be build nationwide by 2022.

By 2025, about 300 million people in the country are expected to participate in winter

sports, increasing the market value of the winter sports sector to 1 trillion yuan.

Driven by multiple momentums, China has witnessed rapid growth in the winter sports ind

ustry in recent years, such as venue facilities, training, tourism and equipment sectors, said Peng Weiyong, dep

uty director general of Finance Department at the General Administration of Sports.

Winter sports has become a booster for China’s sports industry and even economic development, Peng added.

By the end of June 2018, the total number of ski resorts in China rose to 738, an increase of 70 or 10.5 percent over

the same period in 2017. The number of indoor ice rinks totaled 334, an increase of 75 or 29 percent year-on-yea

r increase. In 2018, 19.7 million people participated in skiing, up 12.6 percent year-on-year.

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Xuelong’s northward route had been repeatedly revised

  and thus successfully averted gales and huge waves as high as 8 meters, according to the weatherman aboard the ship, Wang Lei.

  For example, with no ice areas in Prydz Bay to shelter the ship, Xuelong had to de

part from Zhongshan one day earlier than scheduled in order not be blocked by a whole gale and huge waves. After

leaving the bay, it was first headed northwest to the marine-based west Antarctic ice sheet.

  ”Then a strong cyclone is moving to us and its resulting waves will block our way to north,” Wang said.

  Due to the weather, Xuelong chose to sail westward at the edge of the westerlies to reach a haven area between two moving

cyclones, where it had spent two days before huge waves again blocked its way northward.

  ”After that, Xuelong had spent about 20 hours in waters east to the Kerguelan Is

lands in order to stay away from the winds and waves on Wednesday,” Shen said.

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fter the winds and waves became smaller on ThursdayXuelong

  northward and on Friday passed through the westerlies at last.

  On Saturday morning, a tropical low pressure moving rapidly eastward affec

ted Xuelong’s navigation, causing storms and around 3.5-meter-high swells in the sea.

  Xuelong is expected to sail out of the low pressure area and enter calmer waters later in

Saturday. It is scheduled to be back to Shanghai in mid-March.

  During this mission to Antarctica, Xuelong left Shanghai on Nov 2 and arrived at Zhongshan Station on Nov 30.

  TAIPEI – A survey of more than 1,000 employees in Tai

wan shows that 88.9 percent of them are dissatisfied with their current sal

ary, a six-year record high, a survey released by Taiwan’s online job bank Yes123 showed.

  The estimated number of employed people in Taiwan is 9.06 million, which means about 8.06 million are not satisfied.

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Abuse survivors often argue that the public should be

  notified whenever an accusation is made, both to protect the community and to encourage other potential victims to come forward.

  ”This seems to say that if a priest or a nun or deacon gets accused they don’t tell the parish until the accusation is ‘proven,'” said Tim Len

non, of the Survivors Network of those Abused by Priests, who is in Rome participating in vigils with other victims of clergy abuse.

  ”Well, who proves this? The police or the bishops? We’ve seen for 35 years that bishops o

ften cover up, so no one trusts that they are going to be good arbiters of guilt and innocence.”

  Billionaire businessman Richard Branson says he hopes his Live Aid-inspired concert to raise funds for Venezuelans will persuade members of th

e country’s military to defy President Nicolas Maduro and allow humanitarian aid to cross the border.

  Branson, who will host “Venezuela Aid Live” on Friday in the Colom

bian border town of Cucuta, said he is aiming to raise about $100 million to buy food a

nd medicine, essential supplies for the country, which is gripped by a political and humanitarian crisis.

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He (Guaido) will be coming to the other side of the bridge

  with maybe a million of his supporters, and I suspect both of us,

both sides, will be handing flowers to the military and the

people guarding the bridge, and seeing whether they can be persuaded to do what they must realize is the right thing,” Branson said.

  Maduro is planning to stage a rival concert on the other side of the Tienditas Bridge in Tachira, Venezuela.

  Read More: Aid is piling up on Venezuela’s border. Here’s why it’s not getting in

  Photos showed workers setting up scaffolding and stages some 1,000 feet from each oth

er, separated only by the containers that the Venezuelan government has installed to block access to the country.

  ”We just want peace and tranquility,” Maduro said during a televised speech on Thursday.

  Guaido left Caracas on Thursday with a group of lawmakers headed to the border to “welcome the humanitarian aid,” his spokesman, Edward Rodriguez, told CNN.

  A convoy of buses carrying members of Venezuela’s National Assembly, who were traveling separately from Guaido, was blocked briefly en route to the border.

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Samsung said the cameras’ software on all the newphones is abl

  to faster identify what’s in the shot and make suggestions for better framing.

  The four models, which are available for pre-order on Thursday and hit starts on March 8, start at 128GB and go up in cost depending on s

torage size. The devices come in four colors in the US: black, white, blue and a pink inspired by t

he Pantone color of the year (Living Coral). More colors will be available globally.The S10 5G mod

el is the first mainstream device to run on lightning-fast 5G wireless networks later this year. The move could give Samsung a sig

nificant head start in early 5G markets, such as part of the US, South Korea and China, and pit itself as an inn

ovation leader. Apple isn’t expected to have a 5G iPhone until the final quarter of 2020.

  Of course, the 5G network is still in its infancy, which could limit the new device’s true potential.

  ”Some carriers have aggressive launch dates, but full-scale co

verage, like we currently have with 4G, is years away,” Ben Stan

ton at Canalys told CNN Business. “Cellular waves needed for 5G do not travel as far as with 4G and 3G, an

d it will take time for carriers to build a sufficiently dense network of infrastructure.”

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Nissan said this month that it would build its new X-Trail

  rather than in northernEngland”Japanese businesses are seeing returning to Japan as affordable and profitable,” said S

tephen Nagy, an associate professor at International Christian University in Tokyo.

  Honda said it had decided to shut its plant because of “the unpre

cedented changes in the global automotive industry” such as the shift toward electric veh

cles. It plans to move production from Britain to Japan, the United States and China.

  Recent trade deals have also made Britain a less attractive base for Japanese companies after Brexit.

  Nagy pointed to the trade deal between the European Union and Japan, which took effec

t this month, and the agreement between 11 Pacific nations that kicked in at the end of last year.

  ”The UK will not be part of either [deal], making it a much less attractive platform for Japanese businesses,” he said.

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Swiss banking giant UBS fined more than $5 billion in fraud case

  UBS faces a massive financial penalty in France after a court there ruled that the Swiss bank helped its wealthy clients avoid taxes.

  The court delivered its verdict in Paris on Wednesday, ordering the bank to pay €4.5

billion ($5.1 billion) and finding it guilty of money laundering and illegal client solicitations.

  The fines include €800 million ($907 million) in civil damages payable to the French state.

  Shares in UBS (UBS) dropped sharply after the verdict was announced, trading

down 4.2% in Switzerland. The fines are roughly equal to the bank’s net profits for 2018.

  Switzerland’s largest bank said that it would issue a statement “as soon as possible following appli

cable disclosure requirements.” The bank previously said the “lack of a case for the prosecution” had been “very evident.”

  ”UBS believes that the amounts requested were not supported by the evidence presen

ted or the law, and that there are strong legal defenses to the relevant charges,” it said in its most recent annual report.

  The bank said Wednesday that it would appeal the court’s ruling.

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competitiveness of domestic industries. Widened market access

and lowered entry thresholds don’t necessarily mean foreign investment will be subject to no, or even relaxed rules and regulation

s. Like in other developed markets, a proper review and supervision will still be in place to monitor the development of the relevant industries.

For instance, in the US, while there is no such limit on foreign equity ownership, the government can

still conduct a review of major foreign transactions and investments in such industries as power generation, telecommunications, shi

pping, banking and media through the Committee on Foreign Investment in the United States (CFIUS), in the name of national security.

Of course, China will be unlikely to set up such a review body like the CFIUS, but

in the context of its accelerated opening-up, it is making its own preparations.

In January, a draft foreign investment law was submitted to the Standing Committee of the N

ational People’s Congress, China’s legislature, for its second review. The fast-tracked review n

ot only reflects China’s eagerness to make legislative preparation for the increased opening-up, but also indicates its

strong determination to open further up to the world and to level the ‘playing fields’ for foreign and domestic companies.

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Vice premier urges bolder, more effective measures imp

Chinese Vice Premier Han Zheng on Friday stressed to take bolder and more

effective measures to implement the proactive fiscal policy.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Co

mmittee, made the remarks when presiding over a meeting after an inspection of the Ministry of Finance (MOF).

At the meeting, Han studied major issues, including the launch of another round of tax cu

ts and fighting the “three critical battles” against risks, poverty and pollution.

The MOF should stick to the basic tone of seeking progress while maintaining stability, promote

high-quality development and take coordinated steps to ensure steady growth, advance reform, m

ake structural adjustments, improve living standards and guard against risks, Han stressed.

He said that larger tax cuts will be helpful in improving the co

untry’s income distribution system and the tax structure and better serve China’s current macro policy.

The MOF should relieve the social insurance payment burden of firms, strengthen the manag

ement of the fiscal revenue and expenditure and create a sound policy environment for fair competition, Han said.

Han underlined that measures should be in place to effectively prevent and handle financial risks, reinforce the

monitoring of the local government debt risk and deploy more funds to facilitate winning the battles against poverty and pollution.

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