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Alipay, the country’s top mobile payment platform, announced on Tuesday a major anti-fraud u
pgrade on its application by teaming up with 26 public security departments nationwide.
The new function, dubbed “Security Guard”, allows users to set up related accounts among f
amily members or close friends. Should any abnormalities on transactions occur, the system would send
out alerts to all related accounts in order to prevent the fraud from materializing and minimize loss of funds.
“Security is the lifeline of Alipay, and we hope to fight fraud in a manner as harsh as dru
nk driving,” said Rui Xiongwen, vice-president of Ant Financial, Alipay’s parent company.
Alipay users can choose to delay payment for two hours or 24 hours and raise an alert
on the platform if they deem such transactions potentially misdirected or fraudulent.
The system has been linked to local public security authorities to help freeze any transaction
s in doubt. The money will be credited back to the user’s account if authorities determine fraud has been committed.
A number of local anti-fraud centers in cities like Beijing, Shanghai and Shenzhe
n also pledged to cooperate with Alipay on financial security education and anti-fraud alarming systems.
Chinese stocks market surged on Monday with benchmark indices in Shanghai and Shenzhen jumping over 5 percent, mak
ing daily turnover break through 1.04 trillion yuan ($155.5 billion), a new record since 2015. The Barron’s, a fin
ancial weekly published by Dow Jones & Company, said the performance of Chinese stocks is much better than the S&
P 500. Global investment management corporation BlackRock also suggested lasting gains of the bull market.
Barron’s said the CSI 300 index, which tracks the largest stocks traded in the Shanghai and Shenzhen
stock exchanges, rose 6 percent on Monday, with a year-to-date gain of nearly 24 percent, twice the gai
n in the S&P 500, making the CSI 300 index one of the best performing indices globally in 2019.
The ongoing finance sector reforms and further industry open-up could also help boost the Chinese economy and the stock market, the Barron’s report said.
China’s financial system has great potential in helping stabilize the economy, a previous China Daily report said, adding that the co
untry will deepen supply-side structural reform in the financial sector and strengthen the sector’s ability to serve the real economy.
said Van Jackson, a former Defense Department official in the Obama administration.
”Historically, there have been many — I know of half a dozen instances myself personally — where senior North Korean officials were brought around and shown what capi
talist industrialism looks like. They were shown what the stock market floor looks like on the New York Stock Exchange, or they were brought out to so
me tech lab in Silicon Valley,” said Jackson, author of “On the Brink: Trump, Kim, and the Threat of Nuclear War.”
”We’ve shown them what capitalism looks like … the idea that they will see something in Vietn
am physically that triggers something different than what we’ve shown them before is kind of non
sense.”There’s something for both Washington and Pyongyang to like when studying the US-Vietnam relationship.
For North Korea, it’s an example of a single-party communist country that reformed its economy without democr
atizing. For the United States, it’s an example of how to redefine a relationship and make a buck at the same time.
In 1995 — the year Hanoi and Washington normalized relations — US exports to and imports from Vietnam were
worth just $252 million and $199 million respectively. However in the first 11 months of 2018, the US exported more th
an $8 billion worth of goods to Vietnam and imported goods worth $45 billion, according to US Census figures.
erse expertise should be established, while personalized and differentiated financial products that suit market demand should be developed, he said.
The number of small and medium-sized financial institutions as well as their proportion o
f businesses should be increased, while financial services to the small and micro firms as well as agr
iculture, rural areas and rural people should be improved, Xi said.Xi stressed the need to establish a standard, tra
nsparent, open, dynamic and resilient capital market that has sound fundamental institutional arrangements, pr
oper management on market access and exit and tightened full-process supervision on transactions.
He said that financial services conducive to the development of industr
ial, market, regional and green development systems of a modernized economy shall be provided.
An all-around and multi-level financial service system including ve
nture capitals, bank loans and bond and stock markets shall be put in place, he said.
A residential building located at Xihu district in Nanchang, Jiangxi province, collapsed on Sunday morning, trapping people under the rubble, according to CCTV.
By 11:00 am, three people, including two adults and one child, were successfully pulled out by the fire department. They suffered minor injuries.
The second and third floor of the three-story building, which is
made of wood and bricks, collapsed. The accident trapped three households.
The search-and-rescue operation is underway.
BEIJING – China will further enhance physical activities in primary and sec
ondary schools and promote students’ interests, said the Ministry of Education Friday.
Provincial-level regions in China have clearly included physics as
a subject scored in senior high school entrance exam, according to the ministry.
Details to evaluate the subject of physics are based on local conditions, it
said, adding swimming is used to assess the score in certain regions.
In 2016, the ministry released a guideline aiming to establish a senior high school ent
rance exam system based on both academic performance and comprehensive quality
Beijing’s new international airport finished its flight inspections on Sunday, 19 days ahead of schedule, according to the civil aviation authority.
At 10:20 am, an aircraft taking off from Beijing Capital Internation
al Airport in the northeastern part of the city landed smoothly on the northern run
way at Beijing Daxing International Airport. The Civil Aviation Administration’s North China Regional Bu
reau called the event a “successful completion” in a news release, referring to its series of flight inspections.
The inspections, which lasted for 34 days, started on Jan 22 and were suppo
sed last until March 15 to cover the airport’s four runways, six landing systems, lighting facilities and other services.
Flight inspections, which all airports must undergo before opening, are designed to ensure the airport’s flight pro
cedures and aviation navigational aids will be ready for operation, according to the news release.
Daxing airport is scheduled to be completed by June 30 and enter commercial operation before Sept 30.
national security, and peace in Northern Ireland would be compromised in the case of a no-d
eal Brexit, and added the scenario would risk inflaming the nationalist sentiment in Scotland.
”Far from Brexit resulting in a newly independent United Kingdom, stepping boldly into t
he wider world, crashing out on March 29 would see us poorer, less secure and potentially splitting up,” they write.
Rudd, Clark and Gauke also cautioned members of the European Research Gro
up (ERG), a Parliamentary alliance whose members advocate for a no-deal Brexit and have previously voted do
wn May’s deal, that their lack of cooperation would be responsible for a postponement in the Brexit process.
”It is time that many of our Conservative parliamentary colleagues in the ERG recognized that Parliament will stop a disastrous No Deal Brexit on Mar
ch 29. If that happens, they will have no one to blame but themselves for delaying Brexit,” they wrote.