Closer Ties Regardless of Global Changes

Closer Ties Regardless of Global Changes

September 11， Vladivostok， Russia： Chinese President Xi Jinping （left） shakes hand with Russian President Vladimir Putin during their talks.

Xi arrived in the Russian port city earlier in the day for the fourth Eastern Economic Forum （EEF） upon an invitation from Putin.

During their talks， Xi and Putin acknowledged that China-Russia ties have been developing with stronger momentum this year and have entered a new period of faster development at a higher level.

Regardless of changes in the international situation， China and Russia will steadfastly promote their ties and commit to safeguarding world peace and stability， agreed the two heads of state.

Further Opening of Financial Sector

September 20， Tianjin： Chinese Premier Li Keqiang （left） holds a dialogue with representatives from communities such as industry and commerce， finance， think tanks and media outlets attending the Summer Davos 2018. The dialogue was hosted by Klaus Schwab， executive chairman of the World Economic Forum.

Li said the opening up of the financial sector of a nation was closely related to its development phase， economic level， and regulatory capacities.

“While maintaining financial stability， China is determined to further open up its financial services， fully implement the pre-establishment national treatment and the negative list system， and gradually remove limits on business licenses and foreign ownership，” Li said.

Currently， China has removed the caps on the foreign ownership of banks. Foreign ownership caps on insurance and securities companies will also be lifted， he said.

Goodbye Jakarta， Hello Hangzhou

September 2， Hangzhou， Zhejiang Province： Thousands of citizens gather at Wulin Square to watch the closing ceremony of the 18th Asian Games held in Jakarta， Indonesia.

Chinas ancient city of Hangzhou， famous for its scenic lake and temples， will host the 2022 Asian Games. When the flag handover ceremony was held and the 8-minute “Hangzhou Time” cultural performance was staged at the ceremony， the pulse of Asia flowed through Hangzhou， and the welcome message was well conveyed. Cheers burst from the crowd and the world.

The Hangzhou Asian Games Organizing Committee （HAGOC） has promised an event of the “highest possible standards，” and now HAGOC is working to meet all expectations. The city is the third Chinese host of the continents premier sports event after Beijing in 1990 and Guangzhou in 2010.

NIO Makes NYSE Debut

September 12， New York， United States： William Li （left， front）， founder and chairman of Chinese electric vehicle startup NIO Inc.， celebrates after ringing the bell as NIO stock began trading at the New York Stock Exchange （NYSE）.

The Shanghai-based company， trading under the ticker symbol NIO， announced the pricing of its IPO of 160 million American depository shares （ADSs）， at 6.26 U.S. dollars per ADS for a total offering size of approximately US$1 billion， assuming underwriters do not exercise their option to purchase additional ADSs.

William Li stressed that the great potential of the Chinese market and the robust and competitive industrial base there have injected great momentum into his startup. Founded in 2014， NIO， dubbed Chinas Tesla， is a pioneer in Chinas premium electric vehicle market.