An article by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on following the path of financial development with Chinese characteristics and boosting China's strength in finance was published on Sunday.
The article by Xi, also Chinese president and chairman of the Central Military Commission, was published in this year's third issue of the Qiushi Journal, a flagship magazine of the CPC Central Committee.
China's financial development with Chinese characteristics not only follows the path of the development of modern finance, but also has distinctive features that suit China's national conditions, which is different from the Western financial development model, according to the article.
It notes that a financially robust country should be based on a strong economic foundation, possessing world-leading economic, scientific, technological and overall national strength.
The country should also have a series of key core financial elements, such as a strong currency and central bank, robust financial institutions and international financial centers, solid financial supervision, and a high-caliber team of financial talent, the article says.
To strengthen China's financial capabilities, it is essential to accelerate the building of a modern financial system with Chinese characteristics, the article says. It urges efforts to establish and improve a scientific and prudent financial regulation system, a reasonably structured financial market system, a financial institution system with division of tasks and collaboration, a complete and effective financial oversight system, a diversified and professional financial goods and services system, and an independent, controllable, safe and efficient financial infrastructure system.
Xi's article on boosting China's financial strength published
Xi's article on boosting China's financial strength published
China has increased transportation capacity in its air, highway and railway systems to handle a busier 40-day Spring Festival travel rush, which is set to begin on Monday and expected to see 9.5 billion cross-regional passenger trips.
Each year during the period, millions of people working, studying, or living away from their hometowns return for the Spring Festival, China's most important traditional holiday, forming the world's largest annual human migration.
The railway network in China has geared up to meet the growing travel demand. It is capable of scheduling over 14,000 passenger trains per day during the peak period of the travel rush, representing a year-on-year increase of 5.3 percent in transportation capacity.
"By analyzing data flows, we are now capable of tracking passengers' demands and dynamically managing transportation capacity in areas such as ticket purchasing, waitlist management, and transportation capacity adjustments so that the transportation resources will be used more effectively to meet passengers' travel needs," said Zhang Zhiqiang, head of the operation support department at the China Railway 12306 Technology Center.
During the travel rush, China's civil aviation sector is expected to schedule an average of 19,400 flights per day, increasing by 5 percent year on year.
Helping meet capacity, a new terminal was put into test operation at Sanya Phoenix International Airport on Sunday to facilitate smooth travel in the island province of Hainan, which is a popular tourism destination for people from home and abroad during the Spring Festival holiday.
The country is also expected to handle record-high daily self-driving trips and highway traffic volume during the travel rush period.
The Spring Festival, or the Chinese New Year, falls on February 17 this year. The official holiday lasts nine days, with the travel rush running through March 13.
China increases transportation capacity to handle busier Spring Festival travel rush
