U.S. President Donald Trump on Monday said that he hopes to get the ownership of the land where U.S. military bases in South Korea during a meeting with visiting South Korean President Lee Jae-myung at the White House.
The two sides discussed issues such as the U.S.-South Korea alliance, the situation on the Korean Peninsula, and manufacturing cooperation between the two countries.
Trump expressed his hope that South Korea would transfer the ownership of the land used for U.S. military bases to the United States, rather than continuing the current "lease" arrangement.
However, according to the U.S.-South Korea agreement on the stationing of U.S. forces, South Korea currently not only provides the land for U.S. military bases free of charge but also bears a significant portion of the costs associated with maintaining the troops.
During the talks, Trump expressed his hope to meet with Kim Jong Un, top leader of the Democratic People's Republic of Korea (DPRK), later this year and said that together with Lee, he expects to gain major progress in relations with the DPRK.
Regarding economic ties between the U.S. and South Korea, Trump mentioned that he would not rule out "renegotiating" the trade agreement reached between the two countries in July.
Lee emphasized his hope that Trump would pave a "new path to peace" on the Korean Peninsula. He also said that South Korea is willing to participate in the revitalization of manufacturing industries, such as shipbuilding, which the U.S. is currently promoting.
Trump seeks ownership of US military bases' land in South Korea
Trump seeks ownership of US military bases' land in South Korea
The securities industry should provide investors with a wider range of products more conducive to long-term investments, said Wu Qing, chairman of the China Securities Regulatory Commission (CSRC) at the 8th Member Congress of the China Securities Association on Saturday.
Noting that stocks and funds account for only about 15 percent of Chinese residents' assets, the chairman emphasized that the country can harness the huge potential demand for asset management and wealth management.
"We must proactively cater to the diverse wealth management needs of investors with different risk appetites, investment scales, and investment horizons, providing more abundant and targeted products and services which are more conducive to long-term and value investments. We must work together with investors for mutual benefit and win-win outcomes, jointly participating in and sharing the fruits of economic and capital market development," said Wu.
As investor confidence and market resilience have significantly strengthened, the total market capitalization of A-shares -- stocks traded on Chinese mainland markets -- exceeded 100 trillion yuan (about 14 trillion U.S. dollars) for the first time in August.
Amid the growth, Wu stressed that stability remains the bottom line for the industry, calling on institutions to strengthen compliance and risk control while focusing on risks in areas such as margin trading, securities lending, and over-the-counter business to prevent illegal interference by shareholders and safeguard the rights and interests of small and medium-sized investors.
According to CSRC policy guidelines, the commission will appropriately optimize supervision of high-quality institutions to support their improvement in capital efficiency, while for a few problematic securities firms, it will strictly supervise and punish them according to law, resolutely clear out non-compliant shareholders, and maintain market order and stability.
China's top securities regulator urges abundant long-term investment products
