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FTSE Russell, a leading global multi-asset index, data and analytics provider, said Satur
day that it will add Chinese A shares to its widely-tracked global benchmarks next month.
The addition will be officially effective after the close of share markets on June 24.
According to the plan of FTSE Russell, this move marks the first stage of incorporatin
g Chinese shares into its indexes. In this stage, 1,097 Chinese stocks, or 20 percent of A shares, will be bro
ught into the indexes, drawing an expected $10 billion from passive investors.
FTSE Russell will add 40 percent of A shares to its indexes in September, and another 40 percent in March next year.
roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.
Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest
ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg
ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.
Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing
hua University, said China “should be more confident” in accelerating opening-up of its financial sec
tor, which will help global investors seize numerous opportunities in the Chinese market.
Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv
ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.
In addition, a thread on Weibo, China’s Twitter-like comments platfor
m, titled “eating alone” contains 226,000 posts and has garnered 290 million hits.
In 2017, WithEating Magazine, a Chinese foodie journal, started its Eati
ng Alone channel on Bilibili, a popular video-sharing website. To date, the channel, wh
ich has 52 episodes explaining how to prepare meals for one, has attracted more than 200 million hits.
In February, the magazine published a book of the same name, listing 65 recipes for dishes ranging fr
om desserts to foreign cuisine, such as roasted ribs, the Korean favorite bibimbap and seafood curry.
To many people’s surprise, it became a best-seller. “We didn’t expect the book to sell so we
ll. We didn’t print enough copies initially,” the magazine said on its Weibo account last month.