Skip to content
China’s customs officers have seized 2,748 ivory tusks weighing a combined 7.48 metric tons after cracking a major smuggling case.
It was the biggest haul of tusks ever recorded in an anti-smuggling bust conducted in
dependently by customs officers, the General Administration of Customs said on Monday.
The case was solved in March after a combined operation of differ
ent customs offices lasting three months. A total of 238 custo
ms officers took part from cities around the country, including Hefei, Nanjing, Beijing, Fuzhou and Qingdao.
Twenty suspects were detained for further investigation, accor
ding to Sun Zhijie, director of the administration’s anti-smuggling bureau.
Sun said the tusks, illegally shipped from African countries, were imported into China labeled as wood.
cus”, keeping it prudent while the liquidity should be at a reasonably adequate level, it said.
Financial policies are required to further support small and private companies, and fun
ding through the capital market is supported by the authorities, according to the statement.
The central bank had skipped open market operations for 15 conse
cutive working days until Monday. “Reasonable and adequate liquidity in the banking syste
m” was the main reason for the absence of open market operations, according to a statement from the central bank.
To cut or not to cut the RRR, a strong tool for liquidity adjustm
ent, has become a hot topic since April, not only for investors, but also for policy advisers.
Divergent opinions are spreading among a broader group of market observer
s. The market is trying to get more indications from the monetary authority, although the C
hinese central bank barely sends any hints on possible monetary policy operations before taking action.
hina’s economic growth will remain stable in the first quarter, and is expected to land at 6.3 percent or even higher year-on-year when it is released this week, e
conomists said after some economic indicators for March surprised the market on the upside.
“Downside pressure began to ease in the first quarter, as signaled by the r
ather substantial recovery in various economic indicators in March,” said Yao Jingyuan, form
er chief economist at the National Bureau of Statistics and a researcher for the Counselors’ Office of the State Council.
Chinese banks’ lending in yuan, a leading indicator for the real economy
, surged in March by 1.69 trillion yuan ($252 billion), up 52 percent from a year earli
er, according to the People’s Bank of China, the central bank. The manufacturing purchasing managers inde
x for March, which was back into expansion territory, may be a sign of accelerating industrial activities.
Exports in March also picked up, rising 14.2 percent in US dollar ter
ms from a year ago, versus 0.1 percent for the January-February period, customs data showed.
JD Logistic, the logistics arm of the Beijing-based tech heavyweight JD
.com, will cancel the basic salary for delivery staff , CEO and Chairman Liu Qiangdong said i
n response to arguments on the company’s salary adjustments in an internal email sent on Monday.
JD Logistics lost over 2.3 billion yuan ($342.9 million) in 2018, its 12th consecut
ive year to lose money. If the situation continues, Liu said, the company would only last for two more years.
If internal settlements are deducted, JD Logistics lost more than 2.8 billion yuan last year.
The main reasons for the loss are few external delivery orders and high internal costs, Liu said.
The company has only two choices, according to Liu: one, increase external delivery orders to promote external inco
me growth; the other, reduce staff members’ well-being to the level of other express companies.
Reducing fund ratios to average levels and canceling the basic salary a
ims to encourage couriers to get more external delivery orders and increase revenue.
nges from 1,500 to 2,000 yuan, accounting for 15 to 20 percent of the total according to the report.
JD refuted the mass layoff rumor and said more than 10,000 positions are expe
cted to be added as JD Logistics provides services to more industry customers.
Facing tougher competition from rivals such as Alibaba and Pinduoduo, JD is eyei
ng opportunities in the consumer market, which has shown great potential, Sina Finance reported.
Driven by rapid growth of e-comm
The annual survey Amazing China — the Most Attractive Chinese Cities for Expats 2018 unveiled its results at the Shenzhen foru
m of the Conference on International Exchange of Professionals on April 14 in Shenzhen, South China’s Guangdong province.
Zhang Jianguo, Vice Minister of the Ministry of Science and Technology, announced the results.
erce consumption, China’s express delivery volume reached 50.71 billio
n in 2018, an increase of 26.6 percent over the same period last year, the report said.
Aviation Industry Corp of China, the country’s leading aircraft manufacturer, on Sunday launched an ex
hibition park in Xi’an, Shaanxi province.The park is located in an aviation industry compound in Xi’a
n’s northeastern suburb and showcases 16 aircraft used in flight testing.The exhibits represent prototypes of the Chinese military’s major aircraft down
through the years, including the CJ-6 basic trainer, J-7 fighter jet, KJ-2000 early-warning and control plane, as well
as the Z-10 attack helicopter.A J-8II fighter jet is on display at the exhibition park that opened to the public on Sunday in X
i’an, Northwest China’s Shaanxi province. Photo by Zhao Lei/chinadaily.com.cnThese aircraft contri
buted significantly to China’s aviation industry and flight test endeavors, and highlight the growth of the co
untry’s aviation sector, according to an Aviation Industry Corp of China statement.In addition to the aircraft, the par
k also features relief sculptures depicting the histories of Chinese planes’test flights.
China’s first cinema that shows films in the Burmese language opened in Ruili, Southwest China’s Y
unnan province, on Saturday, as the city celebrated one of its most important festivals, the Water Splashing Festival.
Named Bao Bo Hall in Chinese – transliterated from the word “brotherhood” in Burmese, the dedicated screening roo
m is in a 1,500-square-meter new cinema built with an investment of 12 million yuan ($1.78 million).
Films to be shown in the hall will be dubbed and subtitled in Burmese.
A major border crossing between China and Myanmar, Ruili is now home to ap
proximately 60,000 Burmese people, accounting for about one-third of its population.
In benefitting from the Belt and Road Initiative, as well as the China-Myanmar Economic Corridor, the small city has seen a
n increasingly close and active interaction between the two nations, both economically and culturally.