Daily News-20190717

 |  Global Times/ Xinhua

Today's point:

1.Macro:

Social credit system to set market access limit for dishonest individuals, firms

2.Industries:

MoU on China-Ireland STI cooperation signed in Dublin

3.Trade:

China plays significant role in global natural gas market: expert

4.Companies:

Chongqing to launch 5G-based self-driving pilot zone

 

 

Quick view

1.Social credit system to set market access limit for dishonest individuals, firms

[Photo/CGTN]

China is advancing its social credit system through measures such as limiting market access for discredited people and companies while also expanding supervision and penalties, the central government said in a document released on Tuesday. 

In sectors including pharmaceuticals, the environment, construction, production, and care for the young and elderly people, which are highly related to the safety of people's lives and property, authorities will carry out more strict supervision while expanding the scope of penalties.

Dishonest entities and those who failed to comply with judicial decisions or administrative penalties would be banned from entering those sectors, or be expelled from them for good. 

China has been accelerating the full-scale establishment of a social credit system, with cities and regions coming up with detailed plans by including various information into individuals' social credit files such as support for elderly family members and properly sorting their garbage. A total of 14.09 million people had been blacklisted for bad credit records in China as of May. 

The document also encouraged innovation in the social credit system, making full use of the internet and big data as major pillars for the supervision of the system. 

China's social credit system has to be built on an information-sharing basis to improve tracking data for individuals and companies. China has built the largest credit system in the world, including information on 990 million people and 25.91 million companies and other organizations, according to media reports in June that cited the country's central bank. 

(source: Global Times)

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2.MoU on China-Ireland STI cooperation signed in Dublin

A memorandum of understanding (MoU) aiming to strengthen the science, technology and innovation (STI) cooperation between China and Ireland was signed on Monday.

The MoU was signed here by China's Minister of Science and Technology Wang Zhigang, and John Halligan, Irish minister of state for training, skills, innovation, research and development.

Under the MoU, which is valid for five years, both sides have agreed to strengthen STI cooperation in areas including advanced materials, information and communications technology (ICT), life sciences, food and agriculture.

To ensure the implementation of the MoU, a mechanism of Joint Committee Meetings (JCM) on STI Cooperation will be established between the ministries which will hold the JCM on a regular basis.

The first meeting of the JCM was convened following the signing of the MoU, during which representatives from both sides talked about the two countries' cooperation in science and technology.

Noting this year marks the 40th anniversary of the establishment of diplomatic ties, Wang said China and Ireland enjoy closer cooperation and have witnessed fast development in joint research and academic exchanges.

To strengthen the two countries' STI cooperation, the Chinese minister called on both sides to strengthen exchanges and share experiences at the strategic planning level, set priority areas for cooperation, and promote pragmatic cooperation through various ways.

He said China and Ireland should make better use of the China-European Union (EU) cooperation platform to promote people-to-people exchanges and research and development cooperation between scientific institutes, universities and enterprises of the two countries.

In his opening speech at the meeting, Halligan said that Ireland views China as an important STI cooperation partner and that STI cooperation is conducive to the enhancement of the scientific research level of the two countries.

Halligan said that the mechanism as well as the meeting will provide a good platform for future bilateral STI cooperation.

Ireland is willing to promote the development of Ireland-China STI cooperation under the China-EU cooperation framework, he added.

(source: Xinhua)

 

3.China plays significant role in global natural gas market: expert

The recent years have witnessed China's growing role in the global natural gas market and the country will continue to be a significant player on this front, driven by its coal-to-gas conversion efforts, an energy expert said Tuesday.

China "has grown much more quickly than we had anticipated" in the gas market, particularly on the demand side and the LNG (liquefied natural gas) segment, International Energy Agency (IEA) analyst Peter Fraser said at an event in New York City, while expounding the agency's latest report on gas.

Natural gas demand will continue to grow in the medium term, fueled by emerging Asian economies and led by China, he said.

According to IEA's annual market report Gas 2019, China is expected to account for more than 40 percent of global gas demand growth to 2024.

Meanwhile, the report said that the United States and China are the two largest individual contributors to supply growth to 2024, accounting together for over 50 percent of total production increase.

China's efforts to improve air quality by shifting away from coal is a major driver behind the big increase in its natural gas consumption, Fraser told Xinhua, noting that the country is already "a very significant player" in the global LNG market.

"China is now the second biggest importer of LNG and according to our analysis, by 2024 it will become the biggest LNG importer," he said.

China consumed more than 280 billion cubic meters of natural gas in 2018 and is considered one of the world's most robust natural gas and LNG markets, according to competent authorities.

The country's natural gas imports exceeded 90 million tonnes, with LNG imports from 25 countries in Asian Pacific, North America and the Middle East hitting record highs to more than 53 million tonnes, accounting for over 60 percent of total imports.

(source: Xinhua)

 

4.Chongqing to launch 5G-based self-driving pilot zone

Southwest China's Chongqing Municipality will launch a pilot zone for 5G-based autonomous driving in late August, the China Autonomous Technology & Research Center, a co-founder of the zone, announced Tuesday.

The pilot zone, equipped with Level 4 (L4) self-driving capabilities, includes a closed test area covering over 470,000 square meters and allows six application scenarios including pre-warning of dangerous traffic situations, downloading of high-precision maps, 5G-based live streaming and remote control of vehicles.

The research center, the Chongqing branch of China Telecom and DT Mobile jointly started 5G-related cooperation earlier this year.

The applications of 5G-based remote control of vehicles and intelligent connected vehicle (ICV) road tests have been initiated in the zone since May.

The Chongqing-based Changan Automobile will begin its L4 self-driving tests in the zone after it opens, said Liang Fenghua with Changan.

China allowed local governments to arrange road tests for ICVs in April 2018. An increasing number of cities, including Beijing, Shanghai and Chongqing, have issued license plates for ICV road tests.

(source: Xinhua)

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