CHINA People's Daily Tonight: Podcast News (2/12/2019 Tue.)

CHINA

People's Daily Tonight: Podcast News (2/12/2019 Tue.)

People's Daily app

12:16, February 12, 2019

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

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Holiday week spending over 1 trillion yuan

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Chinese consumers opened their wallets during Spring Festival.

They spent on not only digital home appliances and imported fresh food but also on travel and entertainment.

Shopping, dining out, travel and entertainment accounted for most of the consumer spending during the week-long holiday. 

Analysts and officials said the strong domestic demand will inject further growth momentum into the economy this year as the government unveils more policies to spur consumption.

The Ministry of Commerce said the government's emphasis on upgrading consumption continues.  (China Daily)

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China reviews its commercial development in 2018

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China’s commercial development was stable last year in consumption, trade and foreign investments, China's Ministry of Commerce (MOFCOM) said in a media briefing on Tuesday. 

Consumer goods retail in 2018 grew nine percent year-on-year to 38.1 trillion yuan (5.6 trillion US dollars), and consumption as a primary driving force for economic growth for five consecutive years contributed 76.2 percent to economic growth, 18.6 percent higher than the previous year. 

Last year saw total trade revenue of 30.5 trillion yuan (4.5 trillion US dollars) with a 9.7 percent year-on-year growth, according to data from MOFCOM, a new record.

Vice Minister of Commerce Qian Keming reviewed three major accomplishments last year: the hosting of the first International Import Expo (CIIE), dealing with trade frictions with the US and promoting the Hainan Free Trade Zone. (CGTN)

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US negotiators say they’ve agreed on border bill

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Negotiators from the US Congress say they have reached an agreement in principle to fund the government and avoid another partial government shutdown.

The talks had cratered over the weekend because of Democratic demands to limit immigrant detentions by federal authorities.

But lawmakers apparently broke through that impasse Monday evening.

Now they will need the support of US President Donald Trump, whose signature will be needed ahead of the deadline at midnight on Friday. (AP)

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Death toll rises to 17 in India hotel fire: official

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At least 17 people were killed when a hotel in Delhi caught fire early Tuesday, local media reported.

According to preliminary reports, three people jumped from the third floor of the Arpit Palace hotel to save their lives and received serious injuries. About 30 people were safely rescued.

Relief and rescue work was being carried out as 25 firefighters were rushed to the site of fire.

Fires are common across India because of poor safety standards and lax enforcement of regulations. (Xinhua & AFP)

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French presidential aide quits as Benalla scandal deepens

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A special adviser of French President Emmanuel Macron joined a wave of departures from the Elysee as Macron struggles to rebuild his popularity, sapped by “yellow vest” protests and a scandal surrounding his former security chief.

Ismael Emelien said he would leave in late March or early April, but denied his departure had anything to do with the so-called Benalla affair.

Former security adviser Alexandre Benalla was eventually sacked after footage emerged of him beating demonstrators last May.

The outcry intensified after it emerged that Benalla had continued to travel on diplomatic passports after he was fired. (CGTN)

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China's central bank skips open market operations

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The People's Bank of China said liquidity has been at a relatively high level, and could offset factors that drain liquidity from the market.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019, according to the annual Central Economic Work Conference held in December. (Xinhua) 

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Yang Jiechi invited to attend 55th Munich Security Conference

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And Yang Jiechi, a member of the Political Bureau of the Communist Party of China Central Committee, will attend the 55th Munich Security Conference in Germany from February 15-17.

Founded in 1963, the annual conference has become a forum dedicated to promoting peaceful conflict resolution and international cooperation and dialogue.

China has been sending senior representatives to the conference every year to discuss security policies, counter-terrorism, regional security situation, and global governance. (CGTN)

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

(Produced by David Nye and Wang Zi)

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