Partners for Innovation

Students discuss startup projects during the Second Tongji-Bauhinia Valley Startup Camp at Tongji University in Shanghai on January 6. Over 70 college students from the Chinese mainland， Hong Kong and Macao special administrative regions and Taiwan attended the event.

The Hong Kong-based Bauhinia Valley Innovation and Development Center， founded by a number of organizations led by the Hong Kong China Chamber of Commerce， aims to promote cooperation between the mainland and Hong Kong in fi elds such as science and technology.

Severe Punishment

More than 6，000 people have been punished or held accountable for misusing poverty relief funds in the past fi ve years， auditing authorities said on January 9.

These people were punished after auditors examined the use of poverty relief funds in more than 270 impoverished counties， according to Hu Zejun， head of the National Audit Offi ce.

A total of 6 billion yuan （$920 million） of misused funds was recovered after the audit， she told a conference.

Poverty alleviation has been listed as one of Chinas “three tough battles” for the next three years， along with fi nancial risk prevention and pollution control. The three fi elds will be the focus of public auditors in 2018， according to Hu.

For pollution control， authorities will start auditing the management of natural resources by outgoing offi cials to assess their work in environmental protection over their terms in offi ce.

Auditors will put more weight on environmental issues in performance assessments of local offi cials to drive progress in economic development and environmental protection， Hu said.

Flu Outbreak

The predominant fl u virus strains this winter have been rarely seen in recent years， which has led to the current infl uenza outbreak in China， according to an offi cial at the National Health and Family Planning Commission.

People are more likely to lack immunity to the strains， adding to the susceptible population， said Jiao Yahui， deputy head of the Medical Administration and Management Bureau of the commission， at a press briefi ng on January 9.

However， no mutation has been detected in the strains which could affect virus transmission， disease severity or drug resistance， Jiao said， noting that medicines currently used to shorten the duration of fl u are still effective.

According to the Chinese National Infl uenza Center， 11，253 cases of the infectious disease were reported in the last week of 2017， up from 7，730 in the previous week.endprint

Marine Judiciary

The Supreme Peoples Court has released a regulation to standardize criteria for judging cases related to compensation disputes over marine natural resources and environmental damage.

Courts should publicize the handling of a case within fi ve days of a case being fi led， according to the regulation.

“If marine environment supervisors require polluters to assume civil liabilities， including preventing damage， restoring the environment to its original conditions and making compensation， courts should judge polluters to make them fulfi l their liabilities，” the regulation said.

Compensation for marine natural resources and environmental damage includes expenses for preventive measures， restoration， loss during restoration， investigation and assessment， according to the regulation.

Illegal Websites

China dealt with 10，300 pornography and illegal publication cases in 2017， the National Offi ce for the Fight Against Pornography and Illegal Publications said on January 8.

Authorities shut down more than 128，000 websites for containing obscene and other harmful information. More than 4.55 million posts were deleted， while 30.9 million illegal publications were confi scated.

More than 121，000 reports from the public helped in a large number of major cases.

The offi ce worked with the departments of public security and copyright in 147 major cases. It also joined other central government agencies to carry out four rounds of inspections and seven rounds of secret inspections， discovering more than 560 possible law breaches， which they asked local authorities to solve.

More than 900 criminal cases were investigated， with 1，900 people receiving criminal penalties.

The offi ce also made public 10 major cases investigated last year， including that of the Langyou live streaming platform， which sold pornographic content to about 170，000 registered users through a mobile application， making more than 10 million yuan （$1.53 million） illegally between April and July 12 last year.

Another case involved two main suspects conducting fraudulent ghostwriting as editors of renowned academic journals， who sent out fake publishing notifi cations via their online store. About 120 million yuan（$18.4 million） was involved in the case.

Consumer Complaints

Fraudulent healthcare products targeting elderly people topped the list of complaints from Chinese consumers in 2017， a survey showed on January 8.endprint

Sham advertisements and quack medical experts have tricked many elderly people into buying fake products， leading to consumer complaints and tough measures from drug regulators， according to the survey， which was released by the China Consumers Association（CCA） and a public opinion monitoring center under People.cn.

A McKinsey report in November 2017 showed that Chinese consumer confi dence reached a 10-year high in 2017， while the CCA survey showed that market development still lags behind consumers growing demand for better products and services， especially in online retail.

Micro-credit services targeting cash-strapped college students also drew public criticism as some microlending platforms forced borrowers to pay back deposits and interest by means of coercion or violence.

In June 2017， Chinas top banking regulator and the ministries of education and human resources introduced strict measures to crack down on unscrupulous micro-credit services targeting campus consumers.

Bike-sharing became the third most complained about service last year as some companies had diffi culty returning users deposits after fi erce competition and overexpansion drained them fi nancially.

Other major concerns for consumers in 2017 included food safety in online takeout services， hygiene in hotel rooms， price hikes by carhailing services and risks in prepaid card use.

Fun Time

Giant pandas play in snow at a zoo in Shenyang， capital of northeast Chinas Liaoning Province， on January 9.

Reuse of Factories

Beijing has released a guideline to transform the capital citys old factory buildings into urban culture hubs and develop cultural industries.

The old factory buildings can be transformed into cultural centers， libraries， museums and galleries.

The guideline asks that the industrial facades of the old factories be preserved and encourages conservation while renovating and rebuilding them.

It also encourages individuals and companies to participate in the renovation of these old buildings.

Currently， Beijing has more than 200 old factory buildings， covering more than 25 million square meters.

A number of factories in Beijing have been adapted for cultural use in recent years.

Less Desertification

The Qaidam Basin， Chinas highest basin on the Qinghai-Tibet Plateau， has seen a decrease of more than 28，000 hectares of desertifi ed land since 2009， local authorities said.endprint

The region has planted 178，000 hectares of windbreaks， farmland shelterbelts and enclosing forest to curb the expansion of desert areas， according to the local forestry department.

It has also established national forest parks and wildlife and nature reserves to preserve the local environment.

The Qaidam Basin， with an average altitude of 3，000 meters， is 240，000 square km in area. It has 9.5 million hectares of desertifi ed land.

Local authorities have launched a series of anti-desertifi cation programs to prevent and control desertifi cation in the region in recent years.

Classic Inheritance

A teacher instructs trainees in how to play the Erhu， a traditional Chinese musical instrument， during a training session in Yinchuan， northwest Chinas Ningxia Hui Autonomous Region， on January 9.

More than 400 people took part in such sessions during a 10-day program in the city. In future， they will perform and teach the skill to other enthusiasts for free.

Tariff Adjustments

Chinese authorities have released tariff policy adjustments for imports of major technological equipment in response to the nations changing industrial development situation.

A notice issued by six government agencies， including the Ministry of Finance， revised product catalogues that specify industries encouraged by the government and those that no longer enjoy tax breaks.

Imports of major technological equipment on the revised list for government support will continue to be exempt from tariffs and valueadded tax.

Tax exemption policies on imports of equipment such as mixed-fl ow hydro turbines will be abolished， according to the notice. The adjustments took effect on January 1.

Imports of core parts and materials for major technological equipment have enjoyed favorable policy treatment for years. With the changing industrial landscape， the government has constantly adjusted tax policies for imports.

R&D Spending

Chinas research and development（R&D） programs have made notable progress in the past fi ve years due to increases in spending， Minister of Science and Technology Wan Gang said.

National spending on R&D is estimated to reach about 1.76 trillion yuan （$269.6 billion） in 2017， up 70.9 percent from 2012， Wan said at a conference on January 9.

The R&D expenditure in 2017 accounted for 2.15 percent of the national GDP， catching up with the average 2.1 percent of 15 of the nations in the EU， according to the minister.endprint

Citing the breakthroughs made in quantum communication and superconducting materials， Wan noted that Chinas comprehensive strength in scientifi c research has improved signifi cantly in recent years.

Chinese scientists have published the worlds second highest number of research articles in lead- ing academic journals for eight years in a row. The number of references to their articles became the worlds second largest in 2017， overtaking those of Germany and Britain.

“The numbers of patent applications the country received and patents granted annually are the largest in the world，” Wan said.

Floral Enterprise

A fl orist takes care of fl owers in a greenhouse in Xingshuyuan， a village in Changli County， north Chinas Hebei Province， on January 5. The village produces over 10 million potted fl owers each year with a combined value of nearly 60 million yuan （$9.2 million）.

Industry Fund

China has launched an investment fund of 30 billion yuan （$4.6 billion） to guide the development of the services trade industry.

The government-led fund is aimed at facilitating the transformation of Chinas foreign trade patterns and fostering new growth momentum for the economy.

Approved by the State Council， the fund was jointly launched by the Ministry of Finance， Ministry of Commerce and China Merchants Capital Investment Co. Ltd.

China will step up support for services trade businesses， build an effective cooperation mechanism and improve the use of resources， according to Vice Finance Minister Hu Jinglin.

Trade in services refers to the sale and delivery of intangible products such as transportation， tourism， telecommunications， construction， advertising， computing and accounting.

China regularly registers a defi cit in services trade due to huge domestic demand. The defi cit stood at 120.8 billion yuan （$18.5 billion） in November 2017， up from 117.5 billion yuan （$18 billion） in the previous month， offi cial data showed.

IPO Fundraising

The number and value of initial public offerings （IPOs） on the Chinese mainlands two bourses hit a record high in 2017， according to fi gures released by Shanghaiheadquartered fi nancial information services company Wind.

A total of 438 companies launched IPOs on the Shanghai and Shenzhen stock exchanges in 2017， up 93 percent year on year. The value of IPOs was 230 billion yuan （$35 billion）， an increase of 56 percent year on year.endprint

Wind also noted that shares of 216 of the newly listed companies were traded on the exchangesmain boards， raising nearly 138 billion yuan （$21 billion）. Among the remaining 222 companies， 81 were listed on the Small and Medium Enterprise Board， and 141， on the Growth Enterprise Market Board， both in Shenzhen， raising 40 billion yuan （$6 billion） and 52 billion yuan（$8 billion） respectively.

U.S. Dollar Bond

The Asian Infrastructure Investment Bank （AIIB） said on January 6 that it may issue its fi rst U.S. dollar-denominated bond as soon as the end of June.

Soren Elbech， Treasurer of the Beijing-based multilateral development bank， said in a statement that the earliest issuance window will be“toward the end of the fi rst half of 2018，” given the time required for certain procedures including the Board of Governors approval of the AIIBs 2017 fi nancial statements.

Elbech said the minimum size of the issuance will be $1 billion， but as demand for the fi rst bond issue from a triple-A multilateral institution in 25 years may be large， “we anticipate having to issue a larger size.”

In terms of maturity of the bond， Elbech said the choice will be between three and fi ve years depending on investor demand at the time.

He said the bank plans to cap its total borrowing volume at $3 billion in 2018.

The AIIB has received three topnotch ratings from the global credit rating agencies S&P Global Ratings， Moodys and Fitch in recognition of the banks strong capital base and stable outlook.

Offi cially established in December 2015， the bank opened for business in January 2016 and has 84 members so far. It prioritizes investment in energy， transport， rural infrastructure， environmental protection and logistics in Asia.

Silver Spectacle

People browse silverware at a store in Rongjiang County， southwest Chinas Guizhou Province， on January 9. Of the countys 372，000 residents， 80 percent belong to ethnic minority groups such as the Dong， the Miao and the Yao.

Aircraft Exports

The China-developed MA60 regional plane is playing an important role in helping Central African countries build regional airline networks， said the aircrafts developer on January 5. Fourteen MA60 aircraft now serve seven Central African countries via 20 regional air routes， which have jointly created a primary regional airline network， said the state-owned China Aviation Industry Corp. （AVIC）.“Aviation is a high-end industry and a signifi cant component in cooperation among countries involved in the Belt and Road Initiative to boost their connectivity and industrial cooperation，” said Tan Ruisong， President of AVIC.endprint

The turbo-engine MA60， designed for short airstrips， is manufactured by AVIC Xian Aircraft Industry Co. Ltd. To ensure the smooth and effective operation of Chinese aircraft in Africa， AVIC International Aero-Development Corp.， a subsidiary of AVIC， has established a technical support center and a maintenance center for Chinamade aircraft in Africa， and three spare parts centers for China-made aircraft are being built.

A total of 108 MA60 planes had been delivered to 18 countries worldwide by September 2017. They have been put into service on 300 air routes.

AVIC will continuously update the MA60 and its sister aircraft， the MA600， and speed up development of the MA700， a new generation turboprop regional aircraft， according to the group.

Safe Power Transmission

Power grid workers check electricity lines in Wuchuan Gelao and Miao Autonomous County， southwest Chinas Guizhou Province， on January 9.

According to the Guizhou branch of China Southern Power Grid， 256 sets of devices were activated to monitor icing conditions and ensure stable power supply after it issued an extreme cold weather alert on January 6.endprint