News Scan 20150510

Welcome to the Huazhong Agriculture University English Radio Station.This is news can. Let’s look through the great news. China's top political advisor Yu Zhengshengurged Japanto handle historical issues with a clear and responsible attitude in a meeting with a delegation of Japanese congressmen in Beijing on Friday. The delegation is led by Fukushiro Nukaga, head of the Heisei Kenkyukai, a faction under the co-ruling Liberal Democratic Party. The Japanese side should seriously take care of the concern of its Asian neighbors, learn a lesson from the history, handle the historical issues with a clear and responsible attitude and continue to abide by a path of peaceful development, said Yu, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). He said China has always been ready to develop a long-term, sound and stable relationship with Japan, an important neighbor, in the spirit of taking history as a mirror and facing up to the future, as well as the four political documents. The four political documents refer to the China-Japan Joint Statement inked in 1972, the China-Japan Treaty of Peace and Friendship of 1978, the China-Japan Joint Declaration of 1998 and a joint statement on advancing strategic and mutually beneficial relations that was signed in 2008. The two countries should, on the basis of the four-point principled agreement already reached, strengthen political mutual trust, increase personnel exchanges and promote a continuous improvement of bilateral ties, Yu noted. He spoke highly of the contribution made by the Heisei Kenkyukai for the bilateral friendship and called on it to continue to play a positive role. Nukaga said he attached high importance to China's stance and will make unremitting efforts for the development of the bilateral ties on the basis of relevant political documents and consensus. As data for the first quarter (Q1)2015 signaled a rocky start to 2015 and downward pressure looks set to continue,China's leadership called for more focus on quality and efficient growth. Growth and the development of society are interdependent: Without a healthy economy, the dream of a stable and healthy job market, better incomes, more comfortable living conditions and a more beautiful environment will not come true. The building of a moderately prosperous society is one of the Four Comprehensives -- an ideological framework that identifies the main pillars needed to support the rejuvenation of China. The government acknowledges that it must mobilize its ample fiscal tools to invigorate the world's second largest economy amid the economic new normal. It will be no easy task. Growth for Q1 was a lackluster 7 percent year on year, the lowest quarterly growth rate since 2009. Going forward, attention will be given to targeted adjustment measures and the fine tuning of existing policies to ensure growth stays within a proper range, according to a statement released after a meeting of the Political Bureau of the Communist Party of China Central Committee at the end of April. The top leadership said it would continue with its proactive fiscal policy, which features increased public spending, and its prudent monetary policy, which focuses on guiding money flow to the real economy. However, economic development is not only about impressive growth data. The new normal growth state calls for more structural changes and balanced growth. While emphasizing efficient investment, the central authorities decide to further tap consumption potential to foster new growth drivers, such as the service sector, as well as supporting technological upgrading. One such development program that focuses on the Beijing-Tianjin-Hebei region will give priority to traffic management, environmental protection, energy security and industrial upgrading. New challenges emerge along with the new normal situation. Growth may be slowing but quality and efficiency are now preferred over speed -- and that's the way to achieve an all-round well-off society. The Chinese government announced on Tuesday that it will implement1 the long-awaited bank deposit insurance scheme in May, taking a key step in the country's financial reform. 中国政府周二宣布，将于5月执行期待已久的银行存款保险计划，向金融改革迈出重要一步。  From May, financial institutions will be required to pay insurance premiums2 into a fund that will be managed by an agency appointed by the State Council, according to a statement posted on the government website.   The scheme is designed to return bank clients' deposits if their bank suffers insolvency3 or bankruptcy4. The reimbursement5 will be drawn6 from the new fund in the case of the deposit being 500,000 yuan (81,433 U.S. dollars) or less, which applies to 99.63 percent of Chinese depositors, said the statement.   Banks will pay indemnity7 with their own assets to those who have deposited more than 500,000 yuan.   A later statement quoted an unnamed official as saying, "The scheme will help build public confidence in the financial market, straighten the relationship between government and the market... and maintain financial stability."  Deposit insurance schemes are an important part of any financial safety net. The scheme has long been considered a precondition for China to free up deposit rates -- the last step in interest rate liberalization. That’s the lastest news up date,staying more on news can,thank you for your listening and see you next week.