This is People’s Daily Tonight, your news source from China.
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China's 2019 deficit-to-GDP ratio target reasonable: official
China's finance minister says the country’s deficit-to-GDP ratio target this year is proactive and realistic.
Liu Kun says the appropriate increase of the deficit-to-GDP ratio is an important decision of the Communist Party of China Central Committee and the State Council, in line with economic and social development needs and sustainable fiscal development.
China has lifted its fiscal deficit target to 2.8 percent of GDP for 2019, up by 0.2 percentage points compared to 2018.
Liu says profits turned in by state-owned financial institutions and enterprises directly under the central government will be increased, and local governments are required to put various funds and assets to good use. (Xinhua)
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US Fed says economy slowed by multiple headwinds, gov't shutdown
The US Federal Reserve says most areas of the nation saw "slight-to-moderate" economic growth in late January and February, with multiple headwinds and the government shutdown weighing on the US economy.
The "Beige Book," a periodic economic snapshot released by the Fed, contains economic reports from 12 federal reserve districts, which were each monitored by a regional federal reserve bank.
The Fed says labor markets remained tight for all skill levels, while prices rose at a modest-to-moderate pace. (Xinhua)
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Tax, fee reductions may exceed 2 trillion in 2019: Finance Minister
China will further VAT reform in 2019 to ensure tax will only be cut rather than increased.
That’s according to Finance Minister Liu Kun.
He says total taxes and fees to be cut this year may exceed the governmental target of 2 trillion yuan.
The VAT rate will be lowered from 16 percent to 13 percent for the manufacturing sector, and from 10 percent to 9 percent for transportation and construction sectors. (China Daily)
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China hopes India, Pakistan to meet halfway
China encouraged India and Pakistan to continue talks and meet each other halfway.
It urged the two sides to resolve conflicts through dialogue.
Pakistan's foreign ministry on Tuesday announced it would send back an envoy to India, and a reciprocal Indian visit would soon be made.
China said this is conducive to easing the situation and further improving bilateral ties.
A Chinese foreign ministry spokesperson said China will continue to play a constructive role in this regard. (CGTN)
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Las Vegas bets on Elon Musk for tunnel transit system
Elon Musk's dream of an express tunnel transit system could finally become a reality in Las Vegas.
This, after major setbacks in other cities.
The Las Vegas tourism agency announced it is recommending that an enterprise backed by the billionaire receive a contract to build and operate an underground tunnel system through which autonomous electric vehicles would whisk people around a mega convention center, and in the future, possibly the city's famous casino-filled corridor.
If approved, the system of just over a mile long would debut by January 2021 at the Las Vegas Convention Center, which hosts more than 1 million people every year. (AP)
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Trump says would be "very disappointed" if DPRK rebuilds rocket site
US President Donald Trump said he would be "very disappointed" if reports on Pyongyang's alleged efforts of rebuilding its rocket sites prove to be true.
US media reported on Tuesday that the Democratic People's Republic of Korea appeared to have started "rapid rebuilding" of the long-range rocket site at Tongchang-ri Launch Facility.
They cited an imagery analysis from the Center for Strategic and International Studies, a Washington-based think tank.
White House Press Secretary Sarah Sanders said the US would continue to have conversations with the DPRK. (Xinhua)
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LeBron James passes Michael Jordan for 4th in career scoring
And LeBron James moved past Michael Jordan into fourth place on the NBA's career scoring list Wednesday night.
The Los Angeles Lakers superstar scored his 32,293rd point on a driving layup in the second quarter against the Denver Nuggets.
His achievement was particularly special to James, who grew up in Ohio idolizing Jordan.
James began the night needing 13 points to reach the mark. He now trails only Kareem Abdul-Jabbar (38,387 points), Karl Malone (36,928) and Kobe Bryant (33,643). (AP)
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And that’s People’s Daily Tonight. Thanks for joining us.
(Produced by David Nye and Zhan Huilan)