CHINA-LEADERSHIP: CHINESE PRESIDENT XI JINPING PRESIDES OVER PBSC MEETING TO DISCUSS FLOODS

CCP CC General Secretary and President of China Xi Jinping presided over a meeting of the Politburo Standing Committee (PBSC) on July 17 to discuss flood management and response as the worst flooding in decades has been ravaging southern China since June and looks set to continue until August. Xinhua reported Xi Jinping as saying “Flood prevention and rescue work matter to the safety of people's lives and property, food security, economic security, social stability and State security”. It said he "urged authorities to shoulder their responsibilities...strengthen coordination and synergies in anti-flood efforts, take more effective measures, do solid work in monitoring and early warning.” Meanwhile, Reuters reported that the China Banking and Insurance Regulatory Commission (CBIRC) said (July 18) that it“required financial institutions in the flood-hit areas not to blindly withdraw, delay or cut credit lines to the companies who have good development prospects but whose operations were suspended by the floods.”





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