The newly-opened International Monetary Fund (IMF) Shanghai Regional Center will play a prominent role to strengthen the IMF's engagement and cooperation with Asia Pacific economies and provide targeted capacity-building support, said governor of the People's Bank of China (PBOC) in Shanghai on Wednesday.
"We believe that the Shanghai Regional Center will deepen the cooperation between the IMF and China, promote and strengthen macro-economic policy exchanges and coordination among countries of the Asia-Pacific region, revitalize and safeguard global and regional financial stability," said Pan Gongsheng, the PBOC governor, at Wednesday's launch ceremony for the center.
The IMF's managing director Kristalina Georgieva also highlighted the center's important role in facilitating cooperation in the region.
"We are launching the center at a critical time, when action across governments, businesses and the public will determine how this decade, the 20s, will be remembered," Georgieva said.
Newly-established IMF Shanghai center helps improve global financial stability: central bank governor
Homegrown snow gear and facilities are now helping resorts across China provide better services to skiers who are expecting domestic brands to roll out more high-quality and thoughtful products that fit better with habits of Asian users.
The rising demand of Chinese skiers is boosted by a growing market with industry reports predicting that the country's ice and snow economy will surpass 1 trillion yuan (about 140 billion U.S. dollars) by 2025.
Since hitting the slope is no longer a niche sport, resorts across China receive an increasing influx of snow enthusiasts. In particular, the Beidahu Ski Resort, one of the best destinations for skiers in northeast China's Jilin Province, is welcoming up to 10,000 snow enthusiasts daily.
Eleven of the 13 cable cars in the resort were designed and produced in China. Running six meters per second, it takes only 12 minutes for them to carry the skiers up to the mountaintop.
"As wind resistance and speed of the cable cars were significantly improved, their quality almost matches the imported products," said Yan Shuai, marketing director of the Beidahu Ski Resort.
Homegrown snowboards made with carbon fiber and protective gear featuring high-tech fabrics are also winning Chinese customers' favor and many of the updated goods are specially designed for Asian users.
"The ski goggle has three layers of sponge padding, which help it fit better with the faces of Asian users and effectively minimize lens fogging during skiing," said Jia Xiaona, a store manager.
As winter sports become increasingly popular in China, domestic brands are receiving increasing anticipation from skiers who believe that it is quality that will finally help homegrown products to win over customers.
"I think many snowboarders feel that Chinese brands need to deliver standout performance to truly impress. Once they do, confidence in these brands will certainly grow. I think the shift will take some time, because we have relied on imported snowboards for so many years," said Li Jiongxuan, a snowboarder from north China's Tianjin Municipality.
Homegrown snow gear, facilities help improve skiing experience in China
