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rch and field development resources to expand in the Chinese market over the coming years, he said.
Ministry of Commerce spokesman Gao Feng said last month that the t
wo countries’ negotiating teams are hashing out the text of a deal, including an enfo
rcement mechanism, based on mutual respect and benefit. Both countries, the world’s two biggest eco
nomies, have been intensifying their consultations and aiming to break the deadlock in a timely manner.
In the ninth round of trade consultations, negotiators discussed tec
hnology transfers, protection of intellectual property rights, non-tariff measures, the servi
ce sector, agriculture, trade imbalances and enforcement mechanisms.
Trade between China and the US amounted to 815.86 billion yuan ($121.7 billion) i
n the first quarter of the year, an 11 percent year-on-year decline, according to the General Administration of Cus
toms. In March, Sino-US trade climbed 0.1 percent to 291.35 billion yuan, according to the administration.
o eye with his fan.”I buy a lot of albums, and it is the design of the covers that catches my eye first,” Yang
tells the fan. “Apart from the quality of the sound on the record, these things are pieces of art.”
In the two-hour meeting, they listen to the new vinyl and talk about their affection for physical records.
“I recall the summer of 1993 when I was 20 years old,” Yang says. “I bou
ght cassette tapes of the Chinese rock band Tang Dynasty and the rock singer-songwriter
Cui Jian. The songs coming from these spinning tapes stunned me and I wanted to make music like them. That’s wh
y I still stock and support the physical format. It’s something for me to keep and something to hand down to my kids.”
For Wang Zhuohui, owner of Free Sound, Yang’s arrival is one of a series of events to celebrate Record Store Day.
Wang’s shop does its bit for Record Store Day by staging live performances, fan meetings and ex
clusive releases. Record Store Day is a way to help keep a dying industry alive, Wang says. For him one big attra
ction of record stores is that unlike social media where everything is delivered at the push of a button, they offer a p
Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we
re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.
On Monday, individuals in China were able to purchase bonds issued by t
he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N
ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc
ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.
The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu
ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno
wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.