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China will unveil various measures to improve transport efficiency and lower logistics costs, according to a spokesperson for the transport ministry.
Vowing to see a notable increase in transport efficiency in the next
three years, the country will accelerate the construction of a comprehensive tra
nsport network, spokesperson Wu Chungeng told a news conference on March 28.
Efforts will also be made to expand the electronic toll collection system and promote multimodal transport, Wu said.
Meanwhile, the logistics costs are expected to be reduced by 120.9 billion yuan (about $17.97 bil
lion) in 2019, and a logistics service system in line with the country’s high-quality growth will be established over the next three years.
To fulfill such targets, the ministry will optimize transport struct
ure, upgrade rail, road and waterway transport systems and expand the network of logistics hubs, Wu said.
Chinese business leaders are more confident and prepared in addressing the challenges brought by new technologies than
those in many other countries, said Cindy Hook, CEO of Deloitte Asia-Pacific, a global consultancy firm, on Thursday.
While many business leaders in the rest of the world take a protective approach to using technologies, Ch
ina’s leaders would like to “disrupt their sectors” and facilitate real changes, Hook said on the sidelines of the Boao Forum for Asia.
“Chinese enterprises are looking at the technologies available－whet
her it’s artificial intelligence, big data or the like－to actually come up with whole-new busi
ness models and whole-new approaches to doing things, not just improving the old processes.”
With the readiness for technologies, China is likely to lead on many aspects of the unfol
ding Fourth Industrial Revolution, such as e-commerce, smart cities and the internet of things, Hook said.
The country’s impact on the revolution will be enlarged by its opening-up determina
tion, she added, citing the fresh opening-up measures announced by Premier Li Keqiang at the forum on Thursday.
oss the period, be they old masters’ paintings, impressionist, or modern and contemporary, he said.
The second trend is that Chinese and Asian markets continue to grow and flourish
despite short-term macroeconomic challenges the world is facing, Belin said.
“We continue to see strong appetite for collecting and strong growth.
We continue to see a very strong demand and we do see (in Asian Art Week here) very stro
ng buying appetite from our clients; a depth of biding that even surprised ourselves,” he said.
The third key trend in Asia is growing number of young collectors, Belin said.
“There are more young billionaires in Asia than we have in Europe and in the U.S., and that’s also reflected in collec
ting, which is very exciting for Christie’s, because we can bring our clients much earlier on the collecting journ
ey with the best art across the world. And we can accompany them for even longer time in their journey.”
The flourishing Chinese culture market represents “fantastic opportunities” for Christie’
s and the auction house always attaches greater importance to the Chinese market, said the senior industry leader.
Being the first international fine art auction house to be gran
their business by locating the post-Brexit hub for one division in Frankfurt or Paris, and another in Dublin or Lux
embourg. The most obvious example is Bank of America Merrill Lynch, which has chosen Dublin as the EU hub for its bank
ing business, and created a new entity in Paris, which will be the hub of the its markets business.
Kieran Donoghue, the global head of international financial services, strategy and public
policy at IDA Ireland, an agency responsible for attracting foreign investment into that country, attributed the “m
ultipolar” scenario to the fact that no single financial center in Europe has the full and unique set of capabilities that London has.
“What makes London unique is that it has such a deep and broad set of capab
ilities in servicing the insurance, the asset management, and the investment banking industries, and none of t
he European financial centers has the same range of capabilities that currently reside in London,” Donoghue explained.
Nearly half of asset managers, hedge funds, and private equity companies in the re
port have chosen Dublin as the location for their post-Brexit operations, while more banks have chosen Frankfurt as th
eir main EU hub. Many are also expanding their markets business in Paris or adding staff in Amsterdam, Madrid, or Milan.
ter for foreign exchange, for example. We clear more dollars than New York, and are the largest center for RMB trading outside greate
r China. London is strong and international,” she said. “The long-term fundamentals of London and the UK still remain strong.”
Alex De Ruyter, director of the Centre for Brexit Studies at Birmingham City University, echoed the
view of McGuinness, saying: “Whilst I think Brexit has clearly had a significant impact, it must be remembered that Lon
don is a global financial center and the majority of assets held by the financial services sector are outside of th
e EU, with the US, China, and other emerging economies particularly important markets.
“The 800 billion pounds figure only comprises about 10 percent of the estim
ated total assets of the UK banking sector,” he said. “So, the total volume of business affected has been relatively small.”
m to stumble on the roads. “One year, it was snowing, and I walked more than one hour to the s
chool. My colleague helped me half of the way — otherwise, I might have fallen into the gully,” he said.
Gao Yangyao, who worked with Gao Ziren for many years, said that “he has difficulty walking, but he is usually the first to come to school.”
Gao Ziren’s Mandarin Chinese was not so good in the beginning, and he continued listening to radio broadcasts to improve his pro
nunciation. When students had the wrong pronunciation, he would correct them, even when it cost the whole class time.
In 1980s, the mountainous area had poor teaching conditions, with a lack of desks and benches, so Gao br
ought some desks and benches from home. When some impoverished students had no stationery, he would buy it for them.
Gao Xiaomei, one of the first students Gao Ziren taught and now a school principal in Meiling, said that he taught child
ren carefully and usually walked close to students to help them solve problems. His carefulness led her to be a teacher.