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.
he clock, a fire engine, over 160 hydrants, thousand of extinguishers, and fire walls, officials said last year.
But not all relics have such rigid supervision. A joint comprehensive survey was started in Septemb
er by the administration and the Ministry of Emergency Management. It found that 33 major institutions still don‘t meet stan
dards, and the State Council issued a notice on Wednesday that they were to receive the highest-level supervision.
On Tuesday, the administration urged local governments to immediately launch evaluations of potential hazards.
The new lawsuit against Liu Qiangdong, the billionaire founder and CEO of Chinese e-commerce giant JD, and his compan
y filed by a University of Minnesota student might further shake investors’ confidence, and tarnish the image
and reputation of the company, amid tougher competition from rivals such as Alibaba and Pinduoduo.
The Chinese student from University of Minnesota, who claimed she was raped last August by Liu, filed a c
ivil lawsuit against him in Minneapolis on Tuesday, four months after prosecutors decided not to pursue a criminal case.
fossils representing more than 50 previously undescribed animal species dating back 518 million years.
The soft tissues of their bodies, including muscles, organs, eyes and mouths are still visible in some
of the 4,351 fossils discovered in Yichang, Hubei province, according to a new study published in the journ
al Science on Friday. The excavated fossils represent 109 species, including known jelly fish, arthropods and algae.
Fu Dongjing, associate professor at Northwest University in Xi’an, Shaanxi, also the first author of the paper, said the research g
roup started exploring the ancient ruins in the summer of 2007, in Changyang Tujia autonomous county. It was lo
cated on the bank of Qingjiang River where a representative insect from the Cambrian period was first found.
The new trove of fossils called the Qingjiang biota－the living organisms of a region－ha
ve the potential to greatly inform the understanding of early animal evolution, according to the study.
About 542 million years ago, life on earth diversified at an extremely rapid pace, known as t
he Cambrian explosion. Almost all present animal categories appeared at that time. Many creatures wen
t extinct in the process of evolution, but others became the initial form of future organisms.