News in Brief

economics

China’s Economy 2016： Stabilizing and Progressing

Despite a sluggish global economy， China's GDP grew 6.7 percent year-on-year to 74.41 trillion yuan （US$10.83 trillion） in 2016， the slowest pace of growth in 26 years， but well within the government's target range of 6.5 to 7 percent， still one of the highest in the world.

Faced with the slowdown pressure， the Chinese government adopted a set of measures in various fields to improve the economic structure and quality， such as reducing overcapacity， streamlining administrative approvals and boosting innovation to stimulate the economy.

But economists warned that the foundation for steady growth this year remains shaky， as growth of industrial production， fixed-asset investment， inflation-adjusted retail and property sales in the fourth quarter of 2016 were either slower or flat compared with the previous quarter.

community

Xi Eyes Shared， Win-Win Development

Chinese President Xi Jinping called for building a community of shared future for mankind and achieving shared and win-win development amid growing challenges and risks in a keynote speech at the United Nations Office at Geneva on Jan. 18.

While expounding his vision of mankind's future， the leader of the world's second largest economy championed a world of lasting peace， common security for all and common prosperity， as well as an open， inclusive world， and a clean， beautiful world.

The president underscored the principle of equality in establishing a fair and equitable international order， saying that in a new era， the international community should uphold sovereign equality and work for equality in rights， opportunity and rules for all countries.

\"We should advance democracy in international relations and reject dominance by just one or several countries. All countries should jointly shape the future of the world， write international rules， manage global affairs and ensure that development outcomes are shared by all，\" he said.

Xi listed such priorities as partnership， security， growth， inter-civilization exchanges and ecosystem in building a community of shared future for mankind. He urged the international community to build a world of common security for all through joint efforts， saying that all countries should pursue common， comprehensive， cooperative and sustainable security.

In his vision of building a world of common prosperity through win-win cooperation， Xi advocated building an open world economy while warning against protectionism. He also suggested that the international community build an open and inclusive world through exchanges and mutual learning， and make the world clean and beautiful by pursuing green and low-carbon development.

waterways

Mekong Countries to Strengthen Law Enforcement Cooperation

Senior officials from the six countries along the Mekong River gathered at a ministerial meeting marking the fifth anniversary of the Mekong River law enforcement and security cooperation partnership in Beijing on Dec. 27， 2016.

The partnership， which was launched in 2011 after the \"Oct. 5 massacre\" where 13 Chinese sailors were murdered by a drug ring， aims to crack down on transnational crimes along the Mekong and safeguard regional security and stability. The partnership involves China， Laos， Myanmar and Thailand， with Cambodia and Vietnam acting as observing states.

Lauding the partnership as \"a successful paradigm of regional law enforcement and security cooperation，\" Guo Shengkun， China's public security minister， said China is ready to deepen cooperation with all sides in joint patrols along the river， anti-terrorism， drug-control and border management. He also suggested a center for law enforcement and security cooperation along the Mekong River be set up to share information and coordinate actions.

Meng Jianzhu， head of the Commission for Political and Legal Affairs of the Communist Party of China （CPC） Central Committee， met with delegates attending the

meeting.

overseas chinese

Cambodian PM Attends Gathering with Chinese Community

Cambodian Prime Minister Hun Sen held a dinner with about 5，240 Khmer-Chinese and overseas Chinese in the country on Feb. 4， the largest gathering he has made with the Chinese community. Speaking before the dinner， Hun Sen said Khmer-Chinese and overseas Chinese had greatly contributed to socio-economic development in Cambodia and encouraged them to continue their contributions to the Cambodia-China relationship. The prime minister asked them to help attract more Chinese investors and tourists to Cambodia， saying that Cambodia and China expected to see a US$5 billion trade volume in 2017.

Pung Kheav Se， president of the Association of Khmer-Chinese in Cambodia， said the prime minister's presence at the dinner clearly reflected the government's high attention to the Chinese community.

According to Pung Kheav Se， about 1 million Khmer-Chinese and overseas Chinese， including 800，000 Khmer-Chinese and 200，000 overseas Chinese， are living in Cambodia.

The kingdom has 50 Chinese schools with some 50，000 students， he said.

cooperation

China， Vietnam Agree on Closer Cooperation

Xi Jinping， General Secretary of the Communist Party of China （CPC） Central Committee， held talks with General Secretary of the Communist Party of Vietnam （CPV） Central Committee Nguyen Phu Trong in Beijing on Jan. 12. They agreed that the two countries should expand cooperation in various fields including maritime exploration and put ties on the right track.

Xi hailed the growth of the all-round strategic cooperative partnership， citing progress in friendship， political trust， cooperation and cultural exchanges. He said China views relations with Vietnam strategically and from a long-term perspective， and hopes that the two countries will properly manage and control disputes. Xi suggested cementing political trust through close contact between top leaders and parties to offer strategic guidance， and proposed expanding military and security cooperation， and coordinating on global issues.

With regard to maritime disputes， Xi urged both sides to increase communication and consolidate mutual trust， in order to lay a solid political foundation for the settlement of disputes and work together on maritime exploration and cooperation.

Trong congratulated Xi on China's achievements under the leadership of the 18th CPC Central Committee.

Hailing the visits between himself and Xi in 2015， Trong said the progress in relations between the two countries and parties is exciting. He also spoke of expanded maritime cooperation and achievements in trade， investment， tourism， defense， security and non-governmental exchange. Vietnam hopes to combine its \"Two Corridors and One Economic Circle\" plan with China's Belt and Road Initiative， Trong said.

Trong's four-day official visit comes as both countries celebrate the 67th anniversary of diplomatic relations. It is Trong's first China visit since he was re-elected chief of the CPV last January， and his first foreign trip in 2017. He is also the first foreign leader China has received this year， which reveals the importance both sides attach to their partnership.

investing

Duterte Calls on ASEAN， Dialogue Partners to Help Strengthen Community

On Jan. 15， Philippine President Rodrigo Duterte called on members of the Association of Southeast Asian Nations （ASEAN） and its dialogue partners to help strengthen the Southeast Asian community.

Duterte made the appeal during the formal launching of the Philippine chairmanship of ASEAN in Davao City， Duterte's home city. Duterte said the Philippines \"will be firm in its advocacy to promote cooperation between and among ASEAN neighbors and engage our dialogue partners to be more dynamic and vibrant stakeholders in the continued development of our region.\"

He said priorities of this year's meeting would be to ensure the well-being of the peoples in ASEAN and ensure peace and stability in the region.

He called on the 10 member states of ASEAN \"to rededicate themselves and commit anew to the principles and purposes behind the establishment of our association in adherence to the rule of law.\"

Duterte also called on ASEAN dialogue partners \"to be unwavering in your support for ASEAN's continued development and for its important role in the region's security， stability and growth.\"

The Philippines' chairmanship of ASEAN this year happens to coincide with the 50th anniversary of ASEAN.

investing

China Opens More Areas of Economy for Foreign Capital

China's moves to further ease foreign investment policies will open doors in some monopoly sectors this year while prohibiting local governments from curbing foreign companies， experts said.

Their comments came after the State Council issued a document in January outlining 20 measures to spur declining investment activity， including opening the service and financial sectors， and encouraging foreign businesses to bid for infrastructure projects via franchises.

The National Development and Reform Commission （NDRC）， the top economic planner， for the first time delegated approval power for foreign investment under US$300 million and not on the negative list to provincial-level governments.

The negative list specifies investment sectors that are off-limits to foreign investors and opens industries not on the list to treat overseas and Chinese companies equally.

One of the goals of the government's Made in China 2025 strategy is for foreign companies to be treated the same as domestic enterprises.

Additionally， manufacturing industries such as rail transportation， motorbikes and ethanol fuels will be opened up to foreign investment.

Under the new rules， foreign investment above US$300 million will be examined and approved by the NDRC. Investment and capital increases by global companies over US$2 billion need to be filed with the State Council， the highest executive agency of State power.

Tang Wenhong， director of the Ministry of Commerce's Department of Foreign Investment Administration， said foreign capital market access will also be improved in other service businesses， such as accounting， architectural design and rating services. \"Sensitive industries\" such as telecommunications， internet and education will gradually be opened up.