the basic prerequisites that micro and small enterprises should meet to renew their loans and on the regulatory
requirements for banking institutions to do this type of business.
The loan renewal policy does not apply to real estate companies or enterprise group head office that are not engaged in production
and business operation. Besides, qualified companies should not have delinquent loans and interests with malice, according to Jiang.
In terms of pricing, the regulator said commercial banks should adhere to market principl
es and encouraged banks to renew micro and small business loans at a lending rate no higher than the previous rate.
As of the end of 2018, the balance of micro and small business loans of the banking sector in Beijing
increased by 15.23 percent year-on-year to 1.2 trillion yuan ($176.95 billion). During the same pe
riod, the number of micro and small enterprises that received loans grew by 59,500 to 257,200.
A recent survey on 617 micro and small businesses in 200 villages in Beijing’s peripheral areas found that at the start-up phase, 13 perc
ent of the businesses obtained bank loans, 13 percent borrowed from friends and relatives, 8 percent secured funding from
microcredit companies, nearly 8 percent received loans from small lending services offered by Alibaba Group Ho
lding Ltd and Tencent Holdings Ltd, while the majority of business owners used their own money or borrowed from individual creditors, said Mo Xiugen, di
rector of research at the Chinese Academy of Financial Inclusion at Renmin University of China.
He advised policymakers to encourage joint-stock commercial banks and microcredit com
panies to play a bigger part in providing financing to micro and small companies, as these financial institu
tions are more flexible and experienced in serving small business clients than large State-owned commercial banks.
Despite China’s ongoing trade war with the United States, Guangdong province, an economic powerhouse, has found new ways to attain sustainable economic development.
In addition to the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, which helped the province maintain its strong growth momentum, inn
ovation in science and technology was the key to sustainable economic growth last year, Wang Ruijun, director-general of
the provincial Department of Science and Technology, told local media recently.
Wang said the provincial government spared no effort to promote innovation after President X
i Jinping urged Guangdong to further develop its innovative industries during last year’s tw
o sessions – the annual meetings of China’s top legislature and advisory body.
Wang said Guangdong has invested more than 4 billion yuan ($593 million) to help build seven provi
ncial-level laboratories and 72 other major scientific research projects to support economic development.
It has also actively integrated its scientific and technological development into the country’s de
velopment plan for major scientific and technological projects, while building the Guangdong-H
ong Kong-Macao Greater Bay Area Innovation Center of Science and Technology, he said.
ue to boost support for private kindergartens and encourage them to provide inclusive services.
The ministry said media reports that the country will no longer allow the development
of private kindergartens were misleading, and it will continue to encourage investment in kindergartens.
As of 2017, about 63 percent of kindergartens nationwide were run by private entiti
es, among which 43 percent were deemed to be providing inclusive services, the ministry said.
It added that it will encourage more private kindergartens to provide inclusive servic
es. In the meantime, private kindergartens will be allowed to remain profit-oriented to meet public demand.
Chinese authorities have decided to grant a three-year tax benefit to encourage self-employment and hiring by small businesses.
The decision was jointly announced on Feb 2 by the Ministry of Finance, State Taxation Administration and two other government departments.
According to the decision, people in need who start a business can have 12,000 yuan ($1,790) a year deducted from their families’ annual taxes over three years.
The preferential treatment will target four groups: those registered as members of pov
erty-stricken groups; people who have been jobless for more than half a year; those living on su
bsistence allowances; and recent graduates from higher education institutions.
Businesses that have hired individuals from the four groups and paid social insurance for
them can also enjoy tax deductions of 6,000 yuan per person a year for three years.
Deng Xia, a fan of Huagu (“flowery drum”) Opera, a local art form of Yueyang
in Central China’s Hunan province, barely misses such shows at the One Yuan Theater.
“It has enriched the cultural life of residents like me,” Deng, 35, says.
“In the past, we could appreciate the Huagu Opera,
mostly during important festivals such as Lunar New Year, but now we can watch it often.”
The One Yuan Theater, located in Rongjiawan town of Yueyang, has staged 30 to 50 Huagu O
pera shows annually since 2012, with the audience numbers for each show sometimes touching 1,000.
“Some people bring along stools or are even willing to stand through a show of two or three hours,” says Deng of the theater that has a seating capacity of 800.
To enjoy a show, each viewer has to pay only 1 yuan ($0.15) as admission fee to the theater, as the pr
ograms are covered by government funding. The initiative to provide regular and nearly-free shows to lo
cal residents has been successful in bringing the once-dead cultural heritage back to life.
In celebration of Chinese New Year, from 28th January to 24th February Hakkasan Hanway Place and Hakkasan Mayfair will reinvent the
classic fortune cookie, commissioning renowned author Will Self to pen the fortunes.
The fortunes will be written on a ribbon and placed around the Hakkasan m
acarons, to create the fortune macaron. Instead of housing a traditional fortune, each macaro
n will feature one of Will Self’s 88 witty, satirical and sometimes dark musings on the topics most relevant to m
odern day life in London. The fortune macarons will be available as part of the Chinese New Year set menu and also a la carte.
Will Self is an English novelist and journalist, was a food critic for The Observer, and h
as written for titles including The Guardian, Harper’s and The London Review. Self writes to as
tonish people with his fantastical style, and wrote ‘The Unbearable Lightness of Being a Prawn Cracker’, a collection of no
n-traditional restaurant reviews for the New Statesmen. His 2002 novel ‘Dorian, an Imitation’ was long listed for th
e Booker Prize and his novel ‘Umbrella’ shortlisted for the Man Booker Prize. He is known for his unique style and tone of voi
ce, which will be a defining feature of the Hakkasan fortune macarons. Speaking about the partnership he said。
The China Fringe Theater Festival will be held in New York City on Feb 8-16, featuring the prem
iere of three Chinese plays in the United States at the La MaMa Experimental Theater Club (La MaMa).
The international event will give young Chinese artists and China’s contemporary arts more exposure ov
erseas, as one show Two Dogs to be staged is a typical work of contemporary Chinese avant-garde plays, which has enj
oyed high popularity in China especially among the young generation since its premiere in 2007.
Featuring physical comedy and improvisation combined with double act and roc
k music, the drama tells a thought-provoking story of two dogs journeying to a big city to pursue their dreams.
Directed by Meng Jinghui, one of China’s most influential playwrights and theater directors, T
wo Dogs has been performed more than 2,000 times throughout China and at international venues and festivals.
Renowned for his experimental dramas, Chinese director Li Ning and his troupe, the Physical Guerrillas, will bring The Dictionary
of Soul to the festival, a pioneering work of physical theater, which highlights storytelling primarily through physical movements.
chodrama composed of four major sections, i.e. Dramatic Presentation, Interactive E
xperiences, Volunteer Interpretation and Hui Diji’s Heart Forum, based on real stories and psycho-social counseling cases.
All performances will be presented in Chinese with English subtitles.
The event is part of the second annual Creative China Festival (CCF), which is co-organized b
y Beijing Contemporary Art Foundation (BCAF) and Creative China Center in New York.
The current CCF has been open from September 2018 to March 2019 in New York, Bo
ston, Washington D.C., Los Angeles, San Francisco, Pittsburgh, San Diego, and Seattle.
The CCF aims to nurture innovative creators and foster in-depth colla
borations between China and the United States in contemporary arts and culture.
Founded in 1961, La MaMa has become a world-renowned cultural instit
ution in Manhattan. The upcoming China Fringe Theater Festival is co-organized by La M
aMa, BCAF, Beijing Fringe Festival, Shanghai Huidiji Public Psychological Care Center, and The Physical Guerrillas.
According to Taiwanese media reports, Zhong Liti recently exposed the beautiful scenery of Samui Island in Thailand, but the con
tent of the text has caused controversy. She said that she took her father and mother-in-law to Sumei Island for 11 d
ays of detoxification treatment, during which she only drank oil, and many toxins were discharged from her body, w
hich made her feel relaxed and comfortable. She also said that diabetes, hypertension, cirrhosis and other diseases could be discharged through this cour
se, hoping that more people would come to Sumei Island to detoxify. Enthusiastic solicitation reminds netiz
ens of Yi Nengjing, who recently shared spiritual lessons and was bombarded by cults and pyramids.
Zhong Liti and her parents-in-law had a bottle of oil. They only drank oil for 11 days. It’s really incr
edible to call directly, “I hope more friends can come to Sumei Island to detoxify and work together to mak
e their health healthier and healthier.” Some netizens asked, “How is it so like Ying Nengjing’s deceived mind cou
rse”, “Is there any scientific basis? If you don’t have the best, don’t recommend it casually. Others jumped out and said they were in the de
toxification camp. “It’s actually a little useful,” and Po came out to take photos with Zhong Liti.
It is reported that Miranda Kerr, a famous model, used coconut oil to lose weight after c
hildbirth. She added coconut oil to salads, cooking and even green tea. At least 4 tablespoons of coc
onut oil a day, which claimed to be able to maintain her figure and beauty, aroused many doubts.