Night view of Macao on Jan 31, 2019. [Photo/VCG] MACAO - The International Monetary Fund (IMF) forecasted that the economy of China's Macao Special Administrative Region (SAR) will grow by 5.3 percent in 2019, the SAR's monetary watchdog said on Tuesday. Monetary Authority of Macao said an IMF delegation completed its 12-day visit to Macao SAR on Monday and preliminarily concluded macroeconomic and financial assessments of the SAR, saying the government's efforts for diversification would be conducive to transforming the Macao economy into a less volatile and more sustainable model. In its statement, the IMF delegation said the growth of Macao economy is projected at 5.3 percent in 2019 and is expected to remain solid over the medium term at about 5 percent. The SAR government's prudent macroeconomic policies and sufficient reserves had bolstered the economy's resilience against global market shocks, the statement added. The IMF delegation welcomed the initiatives of Monetary Authority of Macao in enhancing cross-border supervisory collaboration for reinforcing the ability to tackle financial risks. Meanwhile, the IMF staff emphasized that the linked exchange rate system between the pataca and the Hong Kong dollar had continued to serve Macao SAR well. The linked exchange rate system should be supported by adequate foreign exchange reserves, sound financial system, appropriately prudent public finance and flexible labor market, it added. pink breast cancer silicone wristbands
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Soldiers from a branch of the border defense forces in Yantai, Shandong province, see off a demobilized soldier. [TANG KE/FOR CHINA DAILY] BEIJING - A draft law on veterans' welfare has been sent to relevant departments at the central and provincial governments and the military for opinions and will be open to the public for comments in due time, said China's Ministry of Veterans Affairs Wednesday. The draft law includes provisions on the job placement, training, employment, favorable treatment and pensions of ex-serviceman, said Wang Zhiming, a spokesman for the ministry at a press conference. Personnel files will be set up for veterans, and special treatment for retired soldiers with war experiences will be clearly defined in the draft law, said Wang. Wang added that new rules were also added to the draft law to clarify the accountability and responsibilities of officials tasked with veterans' arrangement.
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