XI HIGHLIGHTS YELLOW RIVER DEVELOPMENT

President Xi Jinping on Friday underscored the importance of heightened efforts in ecological protection and pursuing high-quality development in the Yellow River Basin.

Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks as he presided over the sixth meeting of the Central Committee for Financial and Economic Affairs. He heads the committee.

It is important to follow the principles of ecological protection and high-quality development in compiling a plan for the river basin's development, and then ensure its implementation, a statement released after the meeting said.

It also called for efforts to follow an ecology-first policy, including green development, and to enable the transformation from too much intervention and overexploitation to natural restoration and recuperation.

The meeting underlined the significance of water conservation, and listed measures to curb unreasonable water consumption. Water utilization must be transformed from inefficiency to more economical methods, the meeting decided.

Different areas must give play to their comparative strengths and develop sectors such as grain production, other agriculture, industry and commerce based on natural conditions, the statement said.

The meeting also laid great emphasis on solving the major issues in the river basin area, saying that projects such as water source conservation, mitigation of soil erosion, comprehensive treatment of air pollution and treatment of polluted soil must move forward.

Pollution control in the Yellow River Basin must be stepped up, with greater water conservation efforts to replenish the water volume in the river, the statement said.

It also urged efforts to push forward the development of city clusters, including Lanzhou and Xining, and to enable the coordinated development of cities in the middle reaches of the Yellow River.

The leading role of key cities, including Xi'an and Zhengzhou, must be strengthened, the statement said, adding that city clusters in the Shandong Peninsula must play a pioneering role.

To force adjustments in industrial structure, the statement said, water should be used as an evaluation standard for land use and industrial production volume.

A project dealing with the protection of cultural heritage along the river will be implemented, and a Yellow River culture and tourism belt with international influence will be developed, the statement said.

The Yellow River Basin, which has a watershed of more than 752,000 square kilometers and covers nine provincial areas, sustains a population of 420 million people, or 30.3 percent of the nation's total, and a GDP of 2.39 trillion yuan ($343 billion), or 26.5 percent of the national total, as of the end of 2018.

Xi has always attached great importance to the ecological protection of the Yellow River Basin.

The meeting on Friday also included the discussion of issues involved in promoting the development of a double-city economic circle in Chongqing and Chengdu — both key cities in Southwest China.

It was decided that the leading role of Chengdu and Chongqing must be emphasized so that the area can be developed into an important economic hub and a center for scientific and technological innovation.

PRESIDENT HAILS MONGOLIA TIES IN GREETING TO LEADER

President Xi Jinping and his Mongolian counterpart, President Khaltmaa Battulga, hailed the development of China-Mongolia ties as they exchanged New Year's greetings.

Bilateral ties made progress in 2019, as the two countries celebrated the 70th anniversary of the establishment of diplomatic relations. Their cooperation in various fields has seen fruitful results, Xi said in his message, which was released on Friday.

Xi said that when Battulga paid a state visit to China and attended the second Belt and Road Forum for International Cooperation in April, the two leaders had an in-depth exchange of views and reached many important points of consensus, which serve as important political guidance for bilateral ties.

Xi emphasized that he attaches great importance to the development of ties and hopes to work with Battulga for new progress in the two countries' comprehensive strategic partnership during the coming year.

In his message, Battulga said ties between the two countries have developed comprehensively.

Both respect each other's development path, interests and concerns and are committed to regional security and development, Battulga said, adding that he hopes to work closely with Xi.

GLOBAL ASSET MANAGERS SEE OPPORTUNITIES IN CHINA

This year may be a good time for global investors to add holdings in Chinese financial assets, as the nation's efforts to open its capital markets and pursue quality economic development offer "unprecedented" opportunities, according to global asset management giants.

"China's capital markets are not only huge and liquid but have a relatively low correlation with other global assets," said Ben Powell, Asia-Pacific chief investment strategist of BlackRock Investment Institute, a think tank of BlackRock, one of the world's largest investment management companies.

"This, plus China's capital market opening-up that has made it easier for international investors to access the markets, undoubtedly presents an unprecedented opportunity for investors," Powell said in an article released on Thursday.

Marked by the inclusion of Chinese assets in global investment benchmarks, the country's capital markets made historic progress in internationalization last year, and the timing for global investors to consider strategic allocation of Chinese equities and fixed-income assets may have come, Powell said.

In April, Bloomberg Barclays added Chinese bonds to its global benchmark, while the MSCI quadrupled the inclusion factor of A shares in its investment benchmarks by three steps last year.

The BlackRock Investment Institute expected returns on Chinese stocks and bonds to be at the high end of the range against its global counterparts, considering the sheer magnitude of China's growth and its improving quality, according to a report the institute released last month.

Manu George, senior investment director of fixed income with Schroders, another global asset management firm, said a moderation in the rate of growth in the midst of economic upgrading will benefit China's bond market.

As the central bank tries to avoid the excessive deceleration of the economic growth, China may see lower interest rates in the long run and therefore provide a solid foundation for bond markets. Bond prices go up when interest rates drop.

"With the broader economic conditions moving arguably in favor of bond markets, and regulatory change opening the markets to a wider investor base, we think a key moment is approaching for Chinese fixed income," George said.

JPMorgan has announced that it will include Chinese government bonds in its global benchmarks by the end of February, and George expected that FTSE, the other major bond index provider, will follow suit in the short to medium term.

Chinese equity assets are also becoming more attractive to global investors, as stock-connect programs between Chinese mainland and Hong Kong bourses saw a net foreign inflow into mainland stocks of more than 350 billion yuan ($50 billion) last year, the highest level so far.

Xu Gao, chief economist with BOC International, said more foreign investors have been expanding their holdings in the A-share market recently as the market offers an "attractive" valuation level by global standards, and as China's prospects for economic growth stand out among major global economies.

Powell expects the Chinese government to focus on both the quality and quantity of economic growth in 2020, with prudent monetary policy cooperating with countercyclical fiscal policies to maintain a healthy rate of growth.

"We are very selective in the China A-share market but also see great opportunities over the long term," said Nicolas Yeo, head of China equities with global asset manager Aberdeen Standard Investments.

FESTIVAL TO INCLUDE MORE TOURISM

Chinese tourists are expected to make 450 million domestic trips during the upcoming Spring Festival holiday, according to a report released by Trip.com, the country's major online travel agency, on Tuesday.

Spring Festival is a traditional occasion for a family get-together, when grown-up children working in other regions elbow their way for a train or air ticket, or drive all the way back to their hometown. But the new trend of spending the festival traveling for tourism purposes reflects consumption upgrades, industry insiders said.

A total of 415 million trips were made across China during the Spring Festival holiday in 2019, up 7.6 percent from a year earlier. The trips brought an increase of 8.2 percent year-on-year in tourism revenue to 513.9 billion yuan ($73.76 billion).

About 4.6 billion domestic trips were made in the first three quarters of last year, up 8.8 percent year-on-year.

"The rapid growth will continue during the weeklong holiday beginning Jan 24," Peng Liang, a tourist data researcher with Trip.com Group, told Xinhua News Agency.

Of tourists that placed their orders on tourism platform Trip, 54 percent will travel with their children for the festival, and 7 percent of them will opt to tour alone. More than 30 percent of tourists will set off their journey before Lunar New Year's Eve.

Warm southern cities and northern snow and ice destinations are the most popular choices among both group visitors and independent travelers.

Of the top 10 destinations to group tourists, Beijing ranks No 1, followed by a string of southern cities such as Kunming, Guangzhou and Lijiang, a city in Yunnan province known for ethnic culture.

After a scheduled high-speed rail service linking Beijing and Zhangjiakou, co-hosts of the 2022 Winter Olympic Games, began on Monday, tourism routes including the two cities have proved popular on the platform.

Harbin, capital of Northeast China's Heilongjiang province, ranks sixth on the list as one of the only three from the region to the north of the Yangtze River. The other two are Beijing and Xi'an.

As a traditional ice and snow sports destination, Harbin is also famous for its display of ice sculptures, thus gaining popularity especially among tourists from southern China.

Sanya, a city in tropical island Hainan province, takes first position on the list of destinations to individual travelers, as it provides an escape from the seasonal chill.

According to the report, Shanghai, Beijing and Guangzhou are the top three sources of tourists during the Spring Festival holiday. Residents from Nanjing, Hangzhou, Shenzhen, Chengdu and Wuhan also like to celebrate the festival on journeys, rather than at home.

As more Chinese travel during holidays, the world will also benefit, Peng said. So far, Chinese tourists have booked outbound trips to more than 1,000 destinations in 102 countries and regions on Trip.com.

BEIJING AIR MUCH CLEANER IN 2019

The air quality in Beijing continually improved during the past year with the density of major pollutants cut down significantly, the capital's environment organ said on Friday.

In 2019, the average concentration of PM 2.5 in Beijing was lowered to 42 micrograms per cubic meter, falling by 17.6 percent year-on-year and down by 53 percent from 2013, according to the Beijing Municipal Ecology and Environment Bureau.

The PM 2.5, hazardous fine particulate matter with a diameter of 2.5 micrometers or less, is still the major air pollutant in the city, exceeding the national standard of 35 micrograms per cubic meter by 20 percent, said the bureau during a news conference on Friday.

Other air pollutants also saw a reduction last year. The annual average density of PM 10 and nitrogen dioxide (NO2) was 68 and 37 micrograms per cubic meter, respectively, both for the first time reaching the national standard of 70 and 40 micrograms per cubic meter, respectively, according to the bureau.

A total of 240 days boasted good air quality in the past year, accounting for 65.8 percent of the whole year, 64 days more than the good days in 2013, the bureau said.

Besides, only four days throughout 2019 saw heavy air pollution with PM 2.5 being the primary pollutant, down from 58 days in 2013.

CHINA'S LUNAR ROVER TRAVELS OVER 357 METERS ON MOON'S FAR SIDE

China's lunar rover Yutu 2 has driven 357.695 meters on the far side of the moon to conduct scientific exploration of the virgin territory.

Both the lander and the rover of the Chang'e 4 probe have ended their work for the 13th lunar day on Thursday (Beijing time), and switched to dormant mode for the lunar night, according to the Lunar Exploration and Space Program Center of the China National Space Administration.

The scientific instruments on the lander and rover worked as planned. The rover conducted explorations of several sites and photographed and conducted an infrared detection of a stone on the lunar surface, said the center.

China's Chang'e 4 probe, launched on Dec 8, 2018, made the first-ever soft landing on the Von Karman Crater in the South Pole-Aitken Basin on the far side of the moon on Jan. 3, 2019.

GRID PROJECT COMPLETION BRINGS STABLE ELECTRICITY TO SOUTHERN XINJIANG

A 3.6-billion-yuan ($514.29 million) grid project was officially completed and started operation in the southern Xinjiang Uygur autonomous region by the end of December, six months ahead of schedule.

The project's completion indicates that all townships in the northwestern Chinese region are supplied with stable electricity, according to a statement released by the Kashgar Electricity Supply Company.

The grid project, which mainly benefits the four major prefectures of Kashgar, Hotan, Aksu and Kezilesu Kirgiz in the desert area of southern Xinjiang, is expected to play an important role in helping local counties and townships shake off poverty in the coming years.

Hu Zhengyu, deputy director of the Construction Department of Kashgar Electricity Supply Company, said the grid project has greatly improved power transmission and supply capacity in Xinjiang and is expected to play a big part in local economic construction.

Construction began about a year ago, he added.

Kadir Mamut, a farmer from the town of Teram village in Yengiostang of Yopurga county, said he uses the stable electricity supply to irrigate his crop fields.

In previous years, he had to use diesel oil to irrigate and that increased production costs, he said.

Gulqekra Ibrayimjan, who comes from Tashikurgan Tajik autonomous county, said she can now use a refrigerator and other household appliances.

She said she plans to buy a new oven to toast bread in the near future.

COSMETIC SURGERY MARKET IN CHINA WORTH OVER 250B YUAN

The cosmetic surgery market in China reached 256 billion yuan ($36.71 billion), growing at an annual compound growth rate of 30 percent in the past five years, according to a report released on Thursday by cosmetic surgery app Gengmei, which means "more beautiful" in Chinese.

The report estimated the Chinese cosmetic surgery market will hit 1 trillion yuan in 2025.

A total of 25 million medical aesthetic procedures were performed in China in 2019, with 10 cities -- including Beijing, Shanghai, Guangzhou city in Guangdong province, and Chengdu city in Sichuan province -- topping the list.

About 32 percent of the customers are from first-tier cities, while the figure for second-tier cities is 35 percent, growing 7 percentage points from last year.

Men account for 13 percent of the customers, while 21 percent of the customers have a master's degree or above. About 40 percent of the customers have a monthly income of 10,000 to 20,000 yuan.

About 15 percent of the customers are from the post-2000 generation, and 47 percent are post-1990s.

Procedures on the nose, eyes and facial contours are the most popular on e-commerce platforms.