英文摘要

《财经》杂志   

2020年04月27日 10:19  

本文3596字,约5分钟

Unified QR Code Payment Standard Is Around the Corner; Hydropower Project Suspended To Protect Wild Animals; Yangzhong’s Fabrics Industry Undergoes Reorganization; China’s Government Bond Issuance May Exceed 8 Trillion RMB

Unified QR Code Payment Standard Is Around the Corner

In the near future, people will not need to consider which QR code to use when shopping, because the interoperability of the QR code between WeChat pay and Alipay is just around the corner.

The People’s Bank of China and the Payment and Clearing Association of China are developing technical standards and business specifications for barcode payment interconnection. Prior to this, the regulatory authorities have sent drafts to relevant business institutions to facilitate pilot tests for technical verification. People close to the central bank told reporters from Caijing that, as UnionPay was established in the early 21st century which promoted the wide use of bank cards, the unified standard of bar code payment has a similar role in promoting the payment market, and even the two giants of Alipay and WeChat pay will gain benefits from it. This integration policy not only facilitates merchants and users, but also improves the security of payment to a certain extent.

 

Hydropower Project Suspended To Protect Wild Animals

After the Novel Coronavirus evolved into a global pandemic, the spread of the virus was attributed to the illegal eating of wild animals. Protecting wild animals has now become a topic of wide concern to the whole society. Hence, the dispute over the construction of the Jiasa River Hydropower Station has drawn public concerns. Many believe that the dam will endanger the survival of the green peacock, one of the key wild animals under first-grade state protection in China. The dispute was filed in court three years ago, and now the ruling has been announced but it is not yet the final conclusion. According to the court’s decision, the construction of the hydropower station was immediately suspended. Whether to continue the project in the future would be determined by the relevant administrative department upon the completion of the environmental impact assessment.

Nonetheless the green peacock case has instilled confidence in the many wildlife conservationists. Whether this particular lawsuit means that the public’s right to participate in and supervise the protection of wildlife will be further guaranteed is not yet known.

 

Yangzhong’s Fabrics Industry Undergoes Reorganization

A small city in Jiangsu Province has seen a major restructuring in the quality of epidemic prevention materials such as face masks. This city is called Yangzhong. Prior to this, Yangzhong almost fell into the frantic situation of buying melt-blown cloth machines and producing melt-blown cloth for all people, and became the “town of melt-blown fabric” amid the novel coronavirus epidemic.

Melt-blown cloth is the core raw material for medical facial masks. The increasing prices have made businesses producing this fabric a huge profit. In the lure of high profits, some small factories began to take risks and produced many low-quality knock-offs. Recently, many foreign media repeatedly reported that the masks exported by China were low-quality. Subsequently, the Ministry of Commerce and other regulatory agencies issued a joint announcement to strictly control the quality of masks.

 

China’s Government Bond Issuance May Exceed 8 Trillion RMB

With the global outbreak of the novel coronavirus pandemic and the risk of a global recession, the Chinese government will not give up the goal of building a moderately prosperous society by the end of this year.

In order to effectively respond to the negative impact of the epidemic, China will appropriately increase the fiscal deficit, issue anti-epidemic special treasury bonds to show a positive and clear signal to the society, and also to enhance market confidence. But the decision-makers have not given up on the goal of building a moderately prosperous society. According to Liu Yuanchun, vice president of Renmin University of China, to achieve such a goal, China’s GDP growth in 2020 will need to reach 5.5%. According to estimates by experts, to ensure the GDP growth rate to reach 5% to 5.5% in 2020, the scale of government bond issuance needs to be around 6 trillion to 9 trillion yuan. It is estimated that the actual scale of government bond issuance may exceed 8 trillion.