Xu Bin: "New Normal" Highlights Overseas Expansion

The winter is getting stronger, and all regions have begun to adjust their economic targets next year.

According to understanding, recently, the provincial Party committee or provincial government of Hebei, Qinghai and Shandong respectively held a meeting to study and arrange economic indicators for next year.

The main reason is that there is a gap between the economic growth rate and the target set at the beginning of this year. Although many provinces have lowered their targets this year than last year, they are still difficult to complete.

Reporters learned that as of the first three quarters of this year, none of the provinces and autonomous regions' economic growth reached the annual economic target.

Among them, Chongqing is the nearest target, with the economic growth rate of 10.8% in the first three quarters of this year and 0.2 percentage points away from the target.

In some provinces, the gap is relatively large, for example, in the first three quarters of this year, Heilongjiang's real economic growth and target difference were 3.3 percentage points, only 5.2%.

"Now we have predicted the economic growth of the whole province this year. How to tune it next year is still under study."

In November 10th, a provincial development and Reform Commission's system economic research department told reporters.

Narrator: not worrying about the unemployment rate is only one aspect of the problem. On the other hand, in the past, the pattern of stimulating investment and pulling up economic growth is too many. Since the macro-control since 2001, the problem has not yet been cleared up.

Shandong's banks' non-performing loans are climbing steadily.

Recently, Jiangsu, Zhejiang, Guangdong, Shandong and other major economic province banking regulatory bureaus have disclosed the situation of non-performing loans in the banking sector as at the end of the three quarter.

Combing the relevant data, we found that although the bad loans and bad rates of four provinces in the late 9 months were both "double litre" compared with the beginning of the year, the new unhealthy trend of Jiangsu, Zhejiang and Guangdong provinces has slowed down, while the bad situation of Shandong's banking industry has shown a rising trend.

By the end of 9, the balance of non-performing loans in Shandong's banking sector was 93 billion 166 million yuan, an increase of 28 billion 360 million yuan over the beginning of the year, and a non-performing loan ratio of 1.78%, an increase of 0.43 percentage points over the beginning of the year.

The banking industry told reporters that the risk of bulk commodity trading, the pain of industrial restructuring and the excessive lending of early stage were the main reasons for the sharp rise in non-performing loans in Shandong's banks this year.

The pain may still exist for a period of time.

A person who has worked in Shandong banking institutions has also told reporters that in some parts of Shandong, private lending is quite active, while some enterprises also have bank loans.

As private lending enters a risk exposure period, some banks may be implicated, leading to an increase in non-performing loans.

Narrator: once the real estate industry has gone down, everyone has been jumping off the building. In October, the property market has been slightly warmer. It is estimated that the situation may not be so exaggerated.

In fact, the tide of regional financial bad debts has been spreading slowly since the beginning of the Yangtze River Delta.

Everyone is used to it, not to blame.

The reason is that the government is interested in compressing credit.

Now that the central bank has released the water secretly, things are slowly passing by.

And after the demolition of the local debt "bomb", now began to dismantle the trust "bomb":

Shanghai and Shenzhen and other local institutions ended the battle for the National Trust platform.

Recently, it was learned that the platform for national trust registration and pfer will be settled in the Shanghai free trade area in the form of state-level trust registration platform company.

The establishment of the platform is the overall good of the trust industry. It will solve the short board of the trust product liquidity and hopefully revitalize the domestic trillions of trust non standard assets.

It is reported that the new company will be held by the central government debt clearing and clearing limited liability company (CBD), and many institutions in Shanghai and other places are participating in the stock market. The specific duties and leadership teams of the company have not yet been finalized.

Yesterday, a person close to the debt Center said to the newspaper: "regulators have basically finalized the establishment of the National Trust Registration Center in Shanghai, but it is not clear who will do it.

In view of the large amount of preparatory work and substantial progress that has been made in the registration of trust in the early stage, it is very likely that the central government will take the lead and hold the new company.

Narrator: there are two reasons for the trust platform. One is the wonderful phenomenon of solving the zero default of trust. Finally, it forms a decent interest rate curve and pave the way for the marketization of interest rate. Otherwise, financial liberalization is empty talk. Another big leader may not be able to export, that is to dismantle the big bomb of the trust industry.

You know, in the past two or three years, the big bang of trust industry depends on credit control and real estate bubble. In all likelihood, trust funds go to two major fields of real estate and mining.

Now that these two industries are all in trouble, what should we do later? We must always look for more markets and spread risks.

The above management's big moves are economic stability, but the meaning of "new normal" has to be innovating to enhance economic efficiency.

In fact, there is no official thing to innovate, but the government should have the right to innovate.

According to foreign media reports, China and the United States agreed on the scope of the information technology trade agreement (ITA) on Tuesday, and ITA will cancel tariffs on high-tech products.

The agreement is expected to cover trade of $1 trillion.

The agreement reached between the United States and China will be submitted to 54 economies participating in the ITA negotiations in Geneva.

MichaelFroman, the US trade representative, said: "this is an exciting time.

Although the negotiations were almost broken, a major breakthrough was achieved.

The two sides will strive to complete the final details.

The agreement is expected to be approved by WTO in Geneva, Switzerland, in December of this year.

The agreement reached between the United States and China will be submitted to 54 economies participating in the ITA negotiations in Geneva.

The United States believes that the final adoption of the agreement is not a big problem. The United States has consulted with other countries before.

The expanded agreement will cover semiconductors, medical devices, global positioning system (GPS) equipment and other new products.

Earlier, the parties held a protracted trade negotiations, and during the same period, they stopped negotiations for more than a year.

ITA is a multilateral agreement under the framework of WTO under the entry into force in 1997. It aims to promote trade liberalization in the industry by cutting tariffs on information technology products.

Currently, the participating countries cover 97% of the world's export of information and communication technology products.

The expanded ITA will cover 200 different tariff categories.

The US side said the products will be abolished, including a new generation of semiconductors, MRI and GPS devices.

The highest tariff rates of the three products are 25%, 8% and 8% respectively.

The White House expects that the agreement will bring 60000 additional jobs to the United States and will reduce the manufacturing and service costs of related industries.

More than 200 tariffs will be abolished.

The focus of the Sino US confrontation has been focused on China's efforts to exclude 60 new product categories, such as medical devices and the next generation silicon chips from ITA.

According to the ITA agreement, the relevant countries should not impose tariffs or trade barriers on IT products.

As the largest exporter of IT products in the world, China wants to protect its emerging high-tech industries, which have yet to compete with the developed countries such as the United States.