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died and 24 were injured in a fire in Guilin, the Guangxi Zh

According to a news release from the local fire department, the battery of an electric bicycle parked beside a building for s

tudents ignited, starting the fire. The incident is still being investigated and some people have been detained.

This is not the first fatal fire caused by an electric bicycle. In December 2017, five people were killed and nine injured when an electric bike started a fire in Beijing, and

in July last year, one person was killed and another injured in Wuxi, Jiangsu province. In fact, type “electric bicy

cle” and “fire” into any online searching engine and you will get hundreds of pages recording them.

How could that happen?

The all-too fast expansion of the industry is to bla

me. There are already 300 million electric bicycles in China, roughly one for every four persons.

However, when it comes to charging the bikes, a big proble

m has emerged. As a growing number of people live in residential buildings without separa

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Financial sector restructuring is also a part of the ongo

oing supply-side structural reform, as it is still dominated by the 268-trillion-yuan banking system, the analysts said.

The restructuring process will accelerate as more foreign capital

moves in, which can boost competition in the domestic market, the analysts added.

In the medium term, continued financial reform and more opening-up measures co

uld boost capital inflows, said Lillian Li, a vice-president at rating agency Moody’s.

But trade disputes between China and the United States and uncertainty over monetary policy in global markets may dam

pen capital inflows, and the pace of capital inflow is likely to fluctuate in the near term, she said.

Having the world’s second-largest equity market and the third-largest bond market, China will likely usher in more inte

rnational capital flows in the longer term, if the nation further liberalizes its financial system, she added.

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Those businesses have become the first beneficiaries in

China’s new round of opening-up, Xi said, adding that Switzerland

has also led European Union nations by signing a free-trade agreement with China.

He called upon both sides to give play to the opening-up spirit, which features cooperation and win-win outcomes.

He also pledged that China will continue to create an open and fair b

usiness environment for foreign enterprises, including those from Switzerland.

Maurer said both the Chinese and the Swiss are endowed with a hardworking, reliable and innovative character.

He said Switzerland welcomes investment from Chinese businesses and will not im

pose restrictions. Switzerland is ready to enhance exchanges with China in winter sports, he added.

Maurer also said he is greatly in agreement with speeches de

livered by Xi during the Second Belt and Road Forum for International Cooperation.

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The death toll of the multiple explosions which ripp

 through Sri Lanka on Sunday has risen to 359, according to a police report released

on Wednesday. While mourning alongside Sri Lankans, the world community needs to shore up greater reso

lve and build a broader consensus to counter extremism and terrorism worldwide.

The terrorist attacks in various locations in the South Asian country o

n the same day must have required a lot of planning, and i

t is believed they were the result of collaboration between domestic and overseas extremists.

This series of terrorist attacks follows the attacks on two mosques in Christc

hurch, New Zealand, and both tragedies should not only sound the alarm but also rally the

international community to eliminate the terrorist and extremist elements in civil societies.

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The two countries should take the opportunity to join

intly build the Belt and Road, deepen mutual political trust and pragmatic cooperation and pr

omote the development of the China-Chile comprehensive strategic partnership to a higher level, Xi said.

The two countries should promote the upgrading of bilateral tra

de and investment and enhance cooperation in such areas as minerals, clean energy, infor

mation technology, e-commerce, innovation and scientific research on the Antarctic, he said.

Xi called on the two countries to make joint efforts to celebrate the 50th anni

versary of China-Chile diplomatic ties next year and promote people-to-people exchanges.

China supports Chile’s hosting of the United Nations climate change confere

nce and the Asia-Pacific Economic Cooperation economic leaders’ meeting this year, Xi said.

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The bond pricing mechanism will be further improv

Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds

at commercial bank counters to individual buyers between March 22 and early April.

The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b

onds issued by the central government as well as bank deposits with the same maturity.

Gross local bond issuances hit 1.18 trillion yuan in the first qua

rter, compared with only 219.5 billion yuan in the same period last year.

The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.

“About 60 percent of the bonds were issued for ongoing construction, especially

for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.

While debt financing continues to grow, the government is experiencing sharp declin

es in fiscal revenue growth, especially from tax and land sales, official data showed.

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Economic data for March have beaten market expectat

ons in many aspects, and based on those data, China’s year-on-year GDP gr

owth rate in the first quarter may reach 6.3 percent or a bit higher,” said Liu Chun

sheng, an associate professor of economics at the Central University of Finance and Economics in Beijing.

Improved market expectations resulting from progress in the Sino-US trade talks and Beijing’s tax and

fee cut plan, as well as eased liquidity, have helped to offset negative effects of the traditional Spring Fes

tival holiday and downside pressure that continued from the end of last year, Liu said.

China has set this year’s GDP growth rate target at 6 percent to 6.5 perce

nt, after registering full-year growth of 6.6 percent in 2018 and 6.4 percent in the fourth

quarter. The NBS is scheduled to announce the country’s first-quarter economic growth data on Wednesday.

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lace people can visit and communicate with like

ded souls face to face.The Beijing native, who quit his job in the hospitality industry and opene

d the shop 17 years ago, says seeing people in the shop, no matter they are looking for something in particula

r or simply browsing, is a delight. Over 16 years Free Sound has sold about 300,000 records, he says.

“It started out as a dream for me and I feel so fortunate to have lived out that dream.”

Wang, in his mid-40s, was introduced to music by his parents, who played vinyl records at home. One of his

favorite singer-songwriters is the Chinese rock musician Cui Jian, and like many music lovers of his generat

ion, Wang enjoyed going to record shops. Sound quality and nostalgia are what draws him to vinyls, he says.

For many people it has long appeared that traditional physical records such as vinyl and cassettes were

on the edge of extinction in the face of online streaming brought by the internet revolution.

Between 2002 and 2005 in particular, the fall in sales of CDs and other ty

pes of musical recordings in China was precipitous, mostly as the result of piracy and online

streaming, and the customer base for record shops evaporated as people stopped buying physical records.

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The US’ move poses a challenge to the WTO and its basic

principles including that of the most favored nation and national treatment. If the US gets its way and introdu

ces the “American First” policy to the WTO as part of the reform, the WTO system would suffer a deadly blow.

It is imperative therefore that the WTO reform strengthens its dispute settlement mechanism, which is at the heart o

f the multilateral trade system, to overcome its existen

tial crisis. Besides, the principle of starting the reform from the least complicated areas should be adopted to carry o

ut deep and far-reaching WTO reforms so that it can accommodate the new trends in international trade.

As the largest developing and developed economies, China and the US generally represent the collective interests of the develo

ping and developed worlds. If the two countries make a breakthrough in the ongoin

g talks to resolve their trade disputes, they could join hands to drive the WTO reform forward.

And, as James Carafano, director of foreign policy studies at the Washin

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In Nanjing, the local railway authority has put more tra

ains into service. It said residents in the city would likely make about 340,000 trips by train on Friday.

Other branches of the railway system have also launched more runs to handle the increase of holiday passengers.

Tomb Sweeping Day, also known as Qingming Festival, fell on Friday this year. It i

s a traditional Chinese day on which people pay tribute to deceased family members,

friends and national heroes. Chinese people have used the day for spring outings since ancient times.

In recent years, the number of Chinese travelers, to both domestic and foreign destinations, d

uring the Tomb Sweeping Day holiday has increased annually, and most of them travel by rail for some or all of the j

ourney. For destinations within China, railways offer lower prices and more choices than airlines.

At present, China operates more than 131,000 kilometers of tracks. That fig

ure includes more than 29,000 km of high-speed rail, two-thirds of the global total.

Last year, China invested more than 338 billion yuan ($50 billion) in the construct

ion of 26 new railways and opened new lines totaling 4,683 km, most of them high-speed.

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