The Asian Development Bank is to work with the Asian Infrastructure Investment Bank on a loan project as the pair seek to counter perceptions they are rivals, according to the ADB’s chief.The China-led AIIB is also consulting the ADB, which is dominated by Japan and the US, on procedures to ensure loan projects include labour, environmental and anti-corruption safeguards, said Takehiko Nakao, ADB president, yesterday in an interview.“People want to depict ADB and AIIB as rivals and [AIIB president] Mr Jin [Liqun] and I as rivals. But actually we are friends, and ADB and AIIB can be partners,” ...
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Boao Forum for Asia (BFA) Annual Conference will be held from March 22 to 25.The 2016 annual Boao Forum for Asia will soon begin in Hainan province. With the theme“Asia’s New Future: New Dynamics, New Vision,” the annual conference will serve as a communications platform to share ideas and visions for the development of Asia.This year’s conference also marks the 15th anniversary of the Boao Forum’s creation.Conferences from past years have facilitated major contributions to Asian and global economies through integration of resources. The forum also plays a role in boosting communication and co...
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Chinese Premier Li Keqiang on Wednesday warned that a “dysfunctional” real economy is the biggest threat to financial markets as he vowed to press on with industry restructuring while maintaining economic growth rates of 6.5-7 per cent.Speaking at the end of China’s annual parliamentary meeting, Mr Li sought to reassure an anxious public that Beijing still has the firepower to meet its financial commitments despite economic ructions.“There may be small ups and downs but we can employ innovative means to deploy macroeconomic regulation to keep within our targets,” Mr Li told reporters during hi...
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The country has set 2020 as the target year to realize the "centenary goal" of building a moderately prosperous society in all respects, pledging efforts to double GDP, among others.In a bid to halt the continued economic slowdown, China’s parliament on Wednesday approved a new five-year plan, laying out the economic and social development blueprint that sets a target of an average annual economic growth of above 6.5%.A total of 2,778 lawmakers or 97.27% voted for the plan at the closing meeting of the annual session of the National People’s Congress (NPC)China has set 2020 as the ta...
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An artificial sun experiment developed by Hefei Institute of Physical Science of the Chinese Academy of Science, has successfully realized UHT long pulse plasma discharge at a temperature of more than 50 million degrees.As of January, the duration of the discharge was 102 seconds.This is the longest discharge at such a high temperature, which marks an important breakthrough in artificial sun research."An artificial sun can provide limitless clean energy through controlled thermonuclear fusion," said Xu Jiannan, a researcher at the China Academy of Engineering Physics.The light and he...
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