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decade is likely to be driven by greater global financial sector integration,” said Alfred Schip
ke, the International Monetary Fund’s senior resident representative for China.
Chinese students are increasingly diversifying their choices of destinations for overseas stud
ies, with more students choosing to go to the United Kingdom, Australia and Canada, a new report showed.
In a multiple choice survey for the annual Report on Chinese Students’ Overseas Study, released
on Tuesday, while the United States remains the most popular destination for overseas study this year, pref
erred by 43 percent of the respondents, this was down by 8 percentage points compared with 2015.
US dominance looks uncertain as the number of students inclined to study in the UK r
ose sharply in 2019, accounting for 41 percent, up 9 percentage points compared with 2015.
A total of 12 million yuan ($1.78 million) of cash will be granted to 12 international scientists for their
groundbreaking academic contributions to the fields of quantum computation and quantum com
munications, according to a press release by the newly founded Micius Quantum Foundation on Friday.
With a combined donation of 100 million yuan from Chinese entrepreneurs, the foundation based in Hefei, East China’s Anhu
i province, will give each of the six annual laureates one million yuan. The foundation, a non-profit organization, ai
ms to promote development of quantum information science and technology.
The Micius Quantum Prize’s 2018 and 2019 laureates were announ
ced at the same time, as selection of first-year nominees took longer than expected, said Luo
Yi, president of the foundation and a scientist from the University of Science and Technology of China, based in Hefei.
domestically rated “AAA”, the safest level. The sale to individual investors is mainly of project-link
ed special-purpose bonds, a type of local government bond vigorously promoted by the government in re
cent years. The cash flows generated from the underlying projects will be used as the primary repayment sources.
In China, there are two types of local government bonds: general bonds and special purpose bonds. According to the country’s 2019 budget repor
t, which was approved by the top legislature earlier this month, the budgeted deficit for local governments is 930 billion yuan, up 100 billi
on yuan compared with 2018, and this fund gap will be supplemented by general bonds.
In the meantime, 2.15 trillion yuan of special purpose bonds will be issued to support la
rge infrastructure projects, such as shantytown renovation projects and railways, said the ministry.
Letting individual buyers invest in local government bonds is a way to narrow the government’s financin
g gap, said Hu Yijian, a tax professor at Shanghai University of Finance and Economics. The gap is expected to expand, as policym
akers decided to cut about 2 trillion yuan in taxes and fees this year while at the same time increase spending on investment.