HEIR TO BUSINESS EMPIRE

Victor Li Tzar-kuoi， the elder son of Hong Kong billionaire Li Ka-shing， will head the infrastructure and property empire built by his father over the past 70 years as of May 10， according to an announcement by the 89-year-old Li Ka-shing on March 16.

Victor Li， currently deputy chairman of CK Hutchison Holdings and CK Asset Holdings， will become chairman of the companies. Born in Hong Kong in 1964， Victor Li holds a bachelors degree in civil engineering and a masters degree in structural engineering from Stanford University. Li returned to Hong Kong and joined Cheung Kong Holdings in 1985. He became managing director of CK Asset Holdings in 1989 and deputy chairman of the company in 1994. He was announced as the successor to his father in 2012.

Li Ka-shing is one of the richest and most influential tycoons in Asia， with business interests in fields from retail and telecoms to power generation.

Increasing Consumer Satisfaction

Nanfang Daily March 16

As consumption has become a major driver of Chinas economic growth， consumer demand for safe and high-quality products is keeping pace. However， unscrupulous producers and retailers remain prevalent.

During the China Central Television annual gala to mark Consumer Rights Day on March 15， a number of producers and retailers guilty of selling fake and substandard products were exposed. The show has played an important role in protecting consumer rights， but a lot more needs to be done to improve the general quality of commodities in China.

As Chinas economy transitions from a phase of rapid growth to a stage of high-quality development， a higher standard must be upheld for consumer products. Products sold at home and abroad should be measured against the same set of standards in order to reach preeminent global levels. The market should be guided to increase the supply of high-quality products and services in order to create an environment conducive to satisfying peoples needs for a better life and increasing their sense of gain， happiness and safety.

Effective supervision is also indispensable for improving quality. An important cause of the prevalence of fake and substandard products is the low cost of transgressions， and so heftier fines should be imposed on offenders. In addition， supervision， management and law enforcement should all be strengthened. Issues should be discovered through spot checks， inspections， complaints fi led by consumers and media exposure. Cases involving the infringement of consumer rights should be cracked down on in accordance with the law.

Improving the Quality of Growth

China Newsweek March 19

As China shifts from a phase of rapid economic growth to a stage of high-quality development， the quality of growth has been gaining widespread public attention. High-quality growth is a broad term including the quality of products， the environment and peoples lives.

China has become the second largest economy in the world， and economic strength is the foundation upon which China can construct high-quality growth.

Another reason for pursuing high-quality growth is the evolution of the principal contradiction facing Chinese society， which is now one between unbalanced and inadequate development and the peoples evergrowing needs for a better life.

Innovation is the key to realizing high-quality growth. For instance， the transformation and upgrading of traditional industries should be promoted by utilizing modern technologies. New technologies and new industries involving the Internet， the Internet of Things， big data and artifi cial intelligence should be nurtured， while advanced manufacturing industries involving new-energy vehicles， aerospace， aviation and the service， culture and tourism industries should also be advanced.

Property rights systems and mechanisms for the market-based allocation of production factors should be improved to enable a signifi cant increase in economic dynamism and public creativity. Principles of equal rights， equal opportunities and fair rules should be upheld to support the development of private enterprises.

Moreover， to realize high-quality growth， a modern economic system should be established with a focus on the real economy and improving the quality of the supply system. The government should also change its economic policies to promote healthy and stable growth and industrial optimization and upgrading.

Auditings Role In Anti-Corruption

Thepaper.cn March 19

According to Hu Zejun， Auditor-General of the National Audit Office， speaking on March 19， not only state but also Communist Party of China institutions should be involved in the auditing system in order to enable it to play a more effective role in anti-corruption.

A guideline on improving the auditing system issued in December 2015 stipulated that auditing should cover public funds， state assets， national resources and offi cials. Hus comment has further clarifi ed the responsibilities of audit departments.

After audit departments discover economic inconsistencies within state and Party departments， the disciplinary inspection and supervisory departments will be responsible for dealing with them. The cooperation of the aforementioned departments has increased the effectiveness of anti-corruption efforts.

As part of the ongoing institutional reform of the State Council， the inspection of major projects by the National Reform and Development Commission， supervision of the central budget by the Ministry of Finance and the auditing of the leaders of state-owned enterprises by the State-Owned Assets Supervision and Administration Commission of the State Council have been merged into the National Audit Offi ce， making the system more comprehensive and effi cient while raising its credibility.

Use of the auditing system to bring money and power under control will improve the security of national governance. Auditing departments should have their ability to act independently guaranteed in accordance with the law without delay in order to build a comprehensive and effective auditing system.

A modern auditing system will help promote the modernization of state governance， its system and abilities. In the future， auditing departments should continue to restrict power and supervise the implementation of policies.

RISING BADMINTON STAR

Badminton player Shi Yuqi def eated compatriot and six-time champion Lin Dan to become the fourth different winner in 10 years at the All England Open Badminton Championships in Birmingham， the United Kingdom， on March 18.

Shi is also the third member of the Chinese national team to win the All England mens singles after Lin Dan and Chen Long.

The seventh seed， beaten by Malaysias Lee Chong Wei in the 2017 fi nal， has had a superb run at the competition， defeating top 10 seeds Chen Long， Son Wan Ho and Lin Dan on the way to the title.

Born in Nantong City， east Chinas Jiangsu Province in 1996， Shi started playing badminton in 2003. He won the boys singles at the Youth Olympic Games in 2014 and silver for the boys singles at the BWF World Junior Championships the same year.

“The Belt and Road Initiative brings about new opportunities for China as well as its neighboring countries， and it is the main focus of Singapore-Chinas further development.”

Stanley Loh Ka Leung， Singaporean ambassador to China， speaking in a recent interview with Xinhua News Agency

“The National Peoples Congress is one of Chinas key institutional pillars. Its work contributes decisively to Chinas social and economic progress and of course it has a very important international impact.”

Anastasios Kourakis， fi rst deputy speaker of the Greek parliament， speaking in a recent interview with Xinhua

“Every time he turned out to be fine， I always thought he would live on in his wheelchair， smiling， for a very long time. I was astonished to learn it was true.”

Guo Lijun， a researcher at the National Astronomical Observatories of China， commenting on the death of British physicist Stephen Hawking on March 14

“Our mechanism for the gender-related assessment of laws， regulations and policies has further improved， and the system of conducting interviews to ensure equal employment for women has been incorporated into local legislation.”

Wu Haitao， Chinas Deputy Permanent Representative to the UN， speaking at the general debate of the 62nd Session of the Commission on the Status of Women， on March 15