CHINA People's Daily Tonight: Podcast News (10/28/2019 Mon.)

CHINA

People's Daily Tonight: Podcast News (10/28/2019 Mon.)

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18:28, October 28, 2019

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This is People’s Daily Tonight, your news source from China.

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19th CPC Central Committee holds fourth plenary session

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The 19th Central Committee of the Communist Party of China started its fourth plenary session in Beijing on Monday.

Xi Jinping, the general secretary of the CPC Central Committee, delivered a work report on behalf of the Political Bureau of the CPC Central Committee and explained a draft document of the CPC Central Committee's decision on some major issues concerning how to uphold and improve the system of socialism with Chinese characteristics, and advance the modernization of China's system and capacity for governance. (Xinhua)

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Fed likely to cut interest rates for third time

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The US Federal Reserve is likely to cut interest rates for the third time since July when it meets this week, despite conflicting economic signals in the United States and what appears to be a widening internal split at the central bank.

The Federal Open Market Committee, or FOMC, will meet Tuesday and Wednesday. Analysts expect it to announce at the close of the second day's meeting a quarter-point cut, reducing the benchmark short-term rate to a range of 1.50 percent to 1.75 percent.

The committee cut rates in July and September. The rate determines what banks charge each other for overnight lending, but also affects the cost of consumer debt and therefore influences spending. (China Daily)

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College CEO says 4 students injured in Texas shooting

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The president and CEO of a northeastern Texas university says four of its students were treated and released from area hospitals following an overnight shooting in which two people were killed and 12 others were injured when a gunman opened fire at an off-campus college party.

Texas A&M University at Commerce President Mark Rudin said there is "a tremendous amount of misinformation" about the shooting that occurred at a party venue attended by about 750 people outside Greenville.

He said counseling services are available to all of their students at the university's counseling center. (AP)

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China drawing up plan for manned lunar exploration

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China is carrying out in-depth demonstration and long-term planning for its manned lunar exploration, and has formed an overall consensus and a preliminary plan, according to a senior space engineer.

At the 1st China Space Science Assembly, Chen Shanguang, deputy chief designer of China's manned space program, said the future trend of manned space cause is to explore the moon, and establish a lunar base to carry out scientific research, and accumulate technology and experience for going deeper into space. "The long-term goal is to send people to Mars," Chen said. (Xinhua)

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US lawmakers to press Boeing CEO for response on 737 MAX crashes

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The head of a US Senate panel reviewing two catastrophic Boeing 737 MAX crashes said the plane would not return to US skies until "99.9 percent of the American public" and policymakers are convinced it is safe.

Boeing CEO Dennis Muilenburg will testify for two days before Congress starting on Tuesday.

That’s the anniversary of the Lion Air 737 MAX crash in Indonesia, the first of two crashes within five months that killed a total of 346 people.

Several reports have found Boeing failed to adequately consider how pilots respond to 737 MAX cockpit emergencies in designing the airplane. (CGTN)

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China Development Bank issues $174b of poverty relief loans

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China Development Bank (CDB) has issued 1.23 trillion yuan ($174 billion) of loans to support poverty relief efforts since 2016.

The loans went to financing relocation of the poor, rural infrastructure construction, industry development, and improving education, said Meng Yaping, a vice president with the bank's poverty alleviation finance division.

By the end of September, funding for relocation programs benefited over 3 million people, while loans worth 164.7 billion yuan reached nearly 12 million students.

CDB has stepped up support for the country's battle against poverty, which is one of the "three tough battles" that the country must win to build a moderately prosperous society in all respects by 2020. (Xinhua)

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China optimizes management on major assets restructuring of listed companies

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And China's securities regulator has revised a guideline to improve management of major assets restructuring of listed companies.

The net profit index was removed from the approval standards for the listing of restructuring companies to simplify the process.

Restructuring assets that meet the national strategy in high-tech and strategic emerging sectors are allowed to be listed on ChiNext, China's NASDAQ-style board of growth enterprises. (Xinhua)

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And that’s People’s Daily Tonight. Thanks for joining us.

(Produced by David Nye and Wang Xiangyu)

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