Beijing Review

Since the emancipation of 1 million serfs in Tibet 64 years ago, residents of the plateau region have become the masters of their house. In old Tibet, serfs accounted for 95 percent of the population. Today, the region has more than 35,000 deputies to people’s congresses at township, county, city, regional and national levels and more than 8,000 political advisors. The region’s people gained the right to vote and stand for election for the first time during the democratic reform that began in March 1959. The First Session of the First People’s Congress of Tibet Autonomous Region, the regional legislature, took place in September 1965. Democracy has permeated all aspects of life, from social administration to the public supervision of power. The people of all ethnic groups have embraced whole-process democracy,…

Members of a Chinese expedition team display the national flag at the summit of Mount Qomolangma on May 23. Earlier that day, the team reached the summit, the world’s highest peak, where they carried out scientific research. One important mission of this year’s expedition was to maintain and upgrade the eight weather stations sitting at altitudes from 5,200 to 8,830 meters. Since late April, 170 scientists in five teams have conducted research on the water, ecology and human activity around the region.…

Financing Medical Students This year, the Chinese Central Government will finance the study of 6,150 medical college students who will work in the country’s less-developed central and western regions, the Ministry of Education announced on May 24. The ministry cited a circular of its general office, saying that the Central Government will provide financial support to offer five years of free undergraduate education at the country’s medical colleges and universities. Free education is predicated on the condition that when students complete their degrees, they will serve in township clinics in the central and western regions. According to the circular, the program is open only to students from the country’s rural areas and candidates also need to attend the national college entrance exam this year. Pension Payments China announced on May 22 it will raise basic pension…

Outbound Direct Investment China’s non-financial outbound direct investment (ODI) rose 26.6 percent year on year to 289.29 billion yuan ($40.9 billion) in the first four months of the year, official data showed. In U.S. dollar terms, the ODI went up 17.6 percent from a year earlier, according to the Ministry of Commerce. The non-financial ODI in countries along the Belt and Road routes came in at $7.53 billion, up 9 percent year on year. The turnover of contracted projects overseas grew 10.6 percent year on year to 287.99 billion yuan ($40.8 billion), while the contract value of newly signed projects amounted to 406.47 billion yuan ($57.5 billion), up 2 percent from a year earlier. Bad Loan Ratio The non-performing loan ratio of China’s commercial banks fell to 1.62 percent by the end of the first quarter…

JAPAN A protester holds up a placard during a demonstration against the Group of Seven (G7) summit in Hiroshima on May 21. The protestors chanted anti-war slogans and hoisted banners calling for “No war” FRANCE Photo taken on May 22 shows the 216th Session of the UNESCO Executive Board at the organization’s headquarters in Paris. UNESCO has chosen Shanghai as the site for a Category 1 Institute on science, technology, engineering and mathematics, the first of its kind to be established outside Europe MONTENEGRO President-elect Jakov Milatovic reviews the honor guard during his inauguration ceremony in Podgorica on May 20 SAUDI ARABIA Leaders attending the 32nd Arab League Summit pose for a group photo in Jeddah on May 19. They gathered there to discuss regional and global issues crucial to the region’s stability UNITED KINGDOM People take in the…

EX-VICE GOVERNOR TAKES OVER FINANCIAL REINS Li Yunze, former Vice Governor of Sichuan Province, has been appointed to head the newly formed National Administration of Financial Regulation (NAFR). Born in Yantai, Shandong Province, in September 1970, Li worked at the China Construction Bank and the Industrial and Commercial Bank of China, two of the country’s leading state-owned banks, before becoming a senior official in the Sichuan Provincial Government. The NAFR was inaugurated on May 18 as the country’s new financial regulator, in keeping with the Central Government’s plan for institutional reform unveiled two months earlier. Live-Streamed Sadfishing Guangzhou Daily May 19 The rise of live-streamed sales, a new mode of e-commerce by which consumers can directly shop via the links included in live-streamed videos, have provided a powerful tool for the revival of China’s vast rural areas.…