magazine of the Communist Party of China Central Committee. He said more efforts a
re needed to implement the proactive fiscal policy and boost efficiency this year.
Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.
Innovative financial tools will be introduced for debt swaps, and the indebted comp
anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea
d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.
“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this
round of debt swaps will not involve the government’s administrative orders, but depends on the ma
rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.
The volunteer team－led by Wu Liangliang, a security guard who has gained online fame for his fluent self-taught En
glish－has also been part of the site’s efforts to provide a more personal management style, in addition to the city go
vernment’s introduction of various measures, including a mobile app, to help tourists.
Larry Goodrich, from Seattle, who has been traveling with his wife
in the Yangtze River Delta for three weeks, lauded the volunteers’ contributions.
Having worked in the computer industry since “the era of brick-si
zed cellphones”, the 65-year-old said that while technology has provided unimaginable con
venience, traveling is about being a part of the destination and interacting with local residents.
“The human connection is always better,” said Goodrich.
its urbanization process. Lastly, it plans to have development of urban and rural areas fully integrated by the middle of the century.
Under the plan, China will relax restrictions on new migrants to urban areas, excluding some mega cities.
hen Liuqin, founder and director-general of Beijing-based Qin Dian Think Tank, said the stimulus policy d
emonstrates the government’s commitment to pursue a balanced and integrated development of rural and urban areas.
“The integration of rural and urban areas is not meant to eliminate differences between them, but r
ather to optimize allocation of resources and boost common development,” Chen added. “We sho
uld abandon the fixed mindset and consider both rural and urban areas as a unified ecosystem.”
According to Chen, with the high-quality development strategy and more integration, there is huge market potential in many cities.
Specifically, the government will increase spending on rural infrastructure, including roads, ferries and public tran
sport. And it will encourage public-private partnerships in rural infrastructure such as water supply, waste
management and sewage treatment, farmers markets, power supply, telecommunications and logistics.
in fact a type of aluminum alloy that can be used to imitate the shape
of traditional Chinese architecture at a low cost. It is an example of how modern technology is app
lied at the exhibition,” Li Liang, a designer of the pavilion, was quoted by Beijing Daily as saying.
By installing rainwater collection devices on the roofs and tanks beneath the pavilio
n, a mini ecological circulation has been created by gathering rainwater to irrigate the terraced fields.
Shen Yanyan, who came with her family from Jiangxi province for a visit, said that
although she didn’t know much about design, she felt the building was “very cool”.
“We saw its shiny roof upon entry to the park and we were immediately attracted,” said the 33-year-old. “The Ch
ina Pavilion is not only beautiful outside, but also inside. My mother is very happy to see flowers from so many pro
vinces and regions of the country, and all are well-trimmed and placed in the pavilion’s exhibition halls.”