(Bloomberg) -- President Xi Jinping’s Belt and Road Forum speech on Sunday appeared on the front page of just about every newspaper and website in China. China Daily hailed the speech, saying it underlined the aspiration for a “new-type” of international relations driven by a “spirit of sharing.” The Global Times went one step further, saying humankind has often been distracted from focusing on development and that the Belt and Road Initiative instilled the world economy with a new imagination. THE CONTEXT: The Belt and Road Forum showcases Xi’s cornerstone initiative to connect China with Europe, Asia and Africa through infrastructure projects and burnishes China’s globalization credentials.
In Other Reports:
- TRADE: The trade plan between China and the U.S. announced last week may add pressure to Chinese companies, although it could benefit consumers as they get cheaper and better quality goods, the Global Times said. The U.S. agricultural sector has a competitive edge, while the finance sector would see more intense competition, the paper said, with companies such as Visa and MasterCard set to challenge the local payment service of UnionPay.
- EMPLOYING FOREIGN GRADUATES: International students with a bachelor’s degree or above should find it easier to find jobs in Shanghai after rules eased this year allowing fresh graduates to apply for jobs in the city’s free-trade zone, the official Xinhua News Agency reported. Previously, foreign citizens were required to have two years of experience after graduation to work in Shanghai, China’s financial hub. The municipal government has encouraged large companies and industrial parks to build apartments to provide housing for their foreign employees and the city has also piloted a series of policies streamlining applications for Chinese green cards. There are 170,000 foreign permanent residents living in Shanghai.
- MILITARY: Chinese Defense Minister Chang Wanquan called on the military and governments at all levels to strengthen national defense education with practical measures, according to Xinhua. The defense chief described the situation facing China’s national security as “complicated” and said it was crucial for all citizens to have national defense education. Chang made the remarks during a recent inspection tour of southern provinces.