US residents reflect on WWII cooperation with China amid V-Day commemorations

As China celebrated V-Day with a grand military parade in Beijing to mark the 80th anniversary of its triumph in World War II, U.S. residents reflected on the wartime alliance between the two countries and voiced hopes for renewed cooperation in today’s divided world.

The commemorations, part of a nationwide tribute to China’s victory in the War of Resistance against Japanese Aggression and the World Anti-Fascist War, culminated in Wednesday’s high-profile gathering in Beijing's Tian’anmen Square.

In interviews with China Central Television (CCTV), U.S. residents shared their understanding of the Chinese People's War of Resistance, highlighting the historic cooperation between China and the U.S. and expressing hopes for closer ties in the future.

"I remember General Stilwell helped with China at one point. But that was a long time ago, so whatever I could say, I think it (cooperation between China and U.S.) should work again," said Bill, a local resident.

"What they (the Chinese people) went through, you know, in the 1930s was horrible and the United States saw that and saw the Japanese alliance with Germany and with Italy, and with other fascist or imperial nations as a really negative thing. I think diplomacy is a wonderful thing. And when nations can get together on a common ground and agree on diplomacy and on things for the betterment of the world and for the world's people, I think that's a really admirable thing. I get nervous about allegiances that split the world apart and don't bring the world together," said Nick, another local resident.

China was the first country to rise against fascist aggression with the longest-lasting resistance that began in 1931. The country tied down and struck over half of Japan's overseas forces, at the cost of 35 million military and civilian casualties -- accounting for around one-third of all WWII casualties worldwide.

Japan officially surrendered on Sept. 2, 1945, by signing the Instrument of Surrender. China designated Sept. 3 as Victory Day.

US residents reflect on WWII cooperation with China amid V-Day commemorations

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