Rise in yuan bond buying shows overseas investors

　　Overseas investors confident in China’s economy: analysts

　　An emloyee counts out notes at a bank in Shanghai. hoto: VCG

　　Overseas investors are buying an increasing amount of yuan-denominated bonds desite fluctuations in the yuan in recent months, and exerts said it shows that overseas investors have confidence both in the yuan and in China's economic rosects.

　　Foreign investors' trusteeshi of yuan-denominated bonds at China Central Deository &am; Clearing Co reached 1.41 trillion yuan ($206 billion) by the end of August, u by 44.96 ercent comared with the end of last year, according to data ublished by China Central Deository &am; Clearing on its official website on Tuesday.

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　　The increase in investment comes at a time when the yuan has been under ressure.

　　In 2018, the yuan has dereciated by about 4.8 ercent against the US dollar, based on data from the eole's Bank of China, China's central bank. Normally, yuan bond yields would decrease in a yuan dereciation cycle, but it aears this has not deterred investors.

　　"Overseas investors' buying of bonds at this time shows that they still have confidence in the yuan's stability in the long term, and that the yuan is of investment value to them as a non-dollar currency," Xi Junyang, a finance rofessor at the Shanghai University of Finance and Economics, told the Global Times on Thursday.

　　His view was echoed by Liu Xuezhi, senior analyst at Bank of Communications, who argued that comared with some vulnerable currencies in emerging markets, yuan assets are relatively safe for overseas investors.

　　"The Chinese economy is facing some turbulence now, mainly because of the trade tension with the US, but that has not, and will not affect the caital market too much," Liu told the Global Times on Thursday.

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　　Xi also said that desite the yuan's dereciation, the yuan-denominated bonds' yield rates are still generally much higher than the yields of overseas currency bonds, arising from the generally high interest rate levels in China, and this is of great aeal to overseas investors.

　　Data from chinabond.com showed that most yuan bonds' one-year yield rates stand at about 4 or 5 ercent. In comarison, the 10-year yield of Jaanese government bonds is only about 0.09 ercent, according to data from a Reuters reort in July.

　　"The Chinese government's relatively tight monetary suly and suervision of liquidity have also ushed u the interest rate level," Xi told the Global Times.

　　Oening the market

　　According to Xi, the government's ush for oening-u of the financial market is also a major stimulus.

　　On August 30, the government cut the comany tax and value-added tax on overseas investors' roceeds from their investment in the onshore bond market.

　　"The ace of oening-u in the bond market is faster than in other financial markets like the stock market. Now there are almost no restrictions on overseas investors for yuan-denominated bonds," Xi said, adding that the government is much stricter about overseas investors' issuance of bonds in the mainland.

　　Aart from bond investment, overseas caital is also flowing into the domestic stock market.

　　Data sent by UBS Securities to the Global Times on Thursday showed that northbound caital reached 1.17 billion yuan via the stock link rograms in the ast two weeks, comared with the 290 million yuan in southbound investment.

　　"In general, with the yuan's internationalization, overseas investors' need for yuan assets is increasing," Xi said biomarkers for PD-L1
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since the appearance of the supposed

"I am certain he is, although appearances are against him," declared the girl impetuously. "He is cautious in speaking even to me, as he fears the vengeance of the Gang. Close the trap-door, Vivian. See!" she added, when he did this, "the surface is masked with moss."

And so it was. The wood was ingeniously covered with ragged moss; and when the trap was down and a few leaves fell on the moss, no one could have told that a passage lay underneath. It was a most clever arrangement, and doubtless had been often used by the scoundrelly gang of which Alpenny, undoubtedly, had been a prominent member. The respectable clients, however, who had come to borrow money and be swindled by the old rascal, had always entered by the great gates, or, if they wished for especial privacy, by the smaller one.

"What a dangerous lot of people I have lived amongst," said Beatrice, who was rather pale when they reclosed the door of the counting-house and left The Camp.

"Undoubtedly," assented Vivian rather grimly; "it is a mercy that the police never came down here. You might have been implicated."

"I can see that, and for the same reason I refuse to believe that Durban is mixed up with these rascalities. He served Mr. Alpenny for my sake, and for my sake he held his tongue about the roguery which he must have known went on. But I do not believe that he took any part in the same, Vivian."

"Well," said Paslow, after a pause, "you may learn more when you see Lady Watson."

"But she can have nothing to do with these things. She is a lady of rank and fashion."

"She was a friend of Alpenny's, or he would not have left her his money," said Vivian, "and is the friend of Major Ruck. I don't know a bigger blackguard in London."

Beatrice said nothing more. She quite agreed with her lover, and began to be afraid as to what she might discover when she was in the presence of Lady Watson. All the same, as she was determined to learn everything, and if possible, to so get to know the doings of the Gang that Vivian would be safe from their threats, she left early the next morning for town. Vivian accompanied her to the local station, and took a formal farewell of her. It had to be formal, because of the publicity of the platform, and also because their relations with one another, dead wife, were so very difficult. So Vivian coldly shook hands, although his face belied the formal action, and Beatrice watched him through tearful eyes as the train steamed towards Brighton.

He stabbed at the earth with his tiny

Sam wanted to go up on the wall, but his parents had forbidden it. Slipping out of Great Hall, he passed the time for a bit, listening with an ear to the ground in the company of die moles. But Sam soon became bored. dagger, imagining that rats were popping up from make-believe tunnels. After a while he wandered over to the foot of the wall and sat sharing some food with Jess. The little squirrel signaled to his parent, asking her what she wanted the big barrel for.In addition, different seed funding schemes have been established to support our students and graduates to kick start their businesses under the programmes.

Jess Squirrel took her little son upon her knee and explained. She had an idea that the barrel, filled with something or other, could be dropped down upon the ram-carriers. But she was not too sure what it would be best to fill the barrel with.

Sam jumped down from his mother's knee. The barrel was

lying on its side. He sprang up on it and walked it about,

rolling it very skillfully under his feet. All the time he was

sucking hard on his paw, trying to think how he could help.


The tunnel gangs lounged about, leaning on the sides of the ditch. Kilkoney stretched full length on a mossy patch.

"Ah, I tell you, this is the life! Better than gettin' shot at! Me ould mother always said, get a good job and keep yer head down."

Scumnose came creeping along in the darkness. He nudged the ferret. "Cluny says you can begin tunneling now."

Killconey marked a cross on the ditch wall with her claw. "Right you are! We'll start about here, buckoes. Come on now, dig for victory."

BOOK THREE

The Warrior

264

The invasion at Redwall continued throughout the night, the whole scene illuminated by a bright summer moon. Neither side gave the other any quarter. When the main action went into a lull, sporadic sniping would break out: bow, lance, sling and spear all coming into play with deadly effect. One thing that remained constant throughout the battle was the sound of the battering ram pounding away remorselessly at the Abbey gatehouse the pavilia bay.

Cluny made it his duty to assess personally the progress at the tunnel workings. He was scathingly critical of the small hole that had been gouged into the side of the ditch, roundly cursing any creature who dared to complain of difficult obstacles.

"Can't get past the rocks and tree roots, my eye!" he snarled. "Idle stupid laziness, that's what is holding up the progress of this tunnel! I'll be around first thing tomorrow to see how much farther you lot have dug, and if it's not to my liking, I'll cave it in and bury the whole shirking crowd of you!"

However, the battering ram pleased Cluny much more. He knew it was worrying the Abbey defenders. The rat crews that manned the heavy object were changed every hour by Cheesethief, who stayed with the ram the whole time, encouraging the carriers on to greater efforts.

Cluny had gained a new respect for Cheesethief. Mentally, he had already promoted him to second-in-command. Sens-26?

ing this had made Cheesethief redouble his efforts. He worked the rat crews like a slave driver. No rodent dared complain about one whom the Chief held in such high regard.

Constance stood on the wall with her captains. The badger's brow was furrowed with anxiety. Basil Stag Hare, the most seasoned campaigner among them, was the only one who apparently took it all quite lightly patek philippe price.

"Ton my word," he chuckled, "the way those blighters down there are carrying on with the jolly old ram, they won't need to tunnel in soon. Ill give it half a day at most, then well have rats piling in over the shoring, what!"

Ambrose Spike positively bristled at the nonchalant hare. "Well, I must say that is a comforting thing to know! Any more Bttle gems of information to cheer us up, eh?"

Basil strode off in high dudgeon, re-emphasizing his previously forgotten limp. "Dearie me, old lad, no need to be so touchy! Merely making a military observation, y'know."

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slipped and fell down a hidden gap between the bales. Scrambling and clutching, he plunged down to the floor.

Matthias's feet never touched the earth. He landed clean in the gaping mouth of a huge marmalade cat!
The barrel fairly flew up under the badger's strong paws. Jess was quite pleased with herself. She had plans for the drum to beat the rats! Basil Stag Hare strode the parapet with a swagger-stick tucked beneath his arm. He dodged around the squirrel, who was rolling the barrel along. Retaining the dignity befitting his rank, Basil kept up a constant stream of orders, "Fire at will, you mouse types! Otters, pick out your targets! Any moles here? Report to Foremole down in the grounds right away."

The hare had cast off his leg bandage. Now that he was back in active service the "honorable war wound" was completely forgotten.

Meanwhile, back at the meadow Cluny sat brooding under

a makeshift tent. At least the ferret was good for something.

Cheesethief came hurrying up, urging on the contingent

of battering-ram carriers. Hoping to find favor with Cluny

he had put himself at the head of the party, helping them to carry the cumbersome object.

"Come on, mates," he cried. "Let's knock on the Abbey door!"

Having negotiated the ditch, they charged across the road. Once they had passed a certain point it created a difficult angle for the defenders on the wall to fire at them.

The massive ram shuddered as it smashed against the gatehouse door. With Cheesethief shouting encouragement, the ram-carriers took a short run back and battered the door again

Cluny was heartened to see things going right for a change. There was more to Cheesethief than he had at first thought.

The door was rammed a third time. Now creatures on the wall stood up in full view as they retaliated by firing down on the ram-carriers. Cluny called up his best slingers and archers, ordering them to pick off the defenders. Fortunately for him, the sun was starting to move southwards, and the otters and mice on the ramparts were clearly visible. Cluny's archers caused numerous casualties, forcing the defenders to drop below the parapet. The battering ram continued, although as yet it had made no lasting impression upon the solid construction.

Missiles from the wall had slackened off, giving Cluny's horde a chance to desert the ditch for the relative safety of the meadows. Cluny appeared well satisfied for the moment. He called Killconey to his side.

"This is more like it, ferret. Right, get the tunnel gangs! Gather your weasels, stoats and ferrets. Take them back along the ditch to the south-east corner of the Abbey wall. When it is dark I'll send you a signal, then you can start tunneling through the ditch wall, across the road and under the Abbey wall. Is that clear?"

Killconey threw an elaborate salute. "Sure, it's clear as the mornin1 dew, yer honor!"

Cluny closed his eyes, intent upon keeping his present good mood. "Then get going, and try to get it right this time."

The battle continued sporadically all day and into the evening. The ram-carriers kept up their attack, but somehow the great door withstood them. When the last vestiges of twilight were

gone, Constance called the captains together. They squatted beneath the parapet in darkness as the badger outlined the situation.

"Listen, we're all right for the moment, but sooner or later something will have to be done about the battering ram. Has anyone got a good idea? I'm open to sensible suggestions.*'

Below them the ram kept up its remorseless battering. Ambrose Spike had reported some minor splintering at the top inside edges of the door, but the shoring of earthworks was holding out. Foremole had assured them that any attempted tunneling would take at least a few days before signs showed. Meanwhile, he and his moles were carefully monitoring the earth in the Abbey grounds.

Throughout the day-long battle, the animals not directly involved in the fighting had been busy too. Father Abbot was tending the wounded in Great Hall, Friar Hugo was constantly sending Cornflower and her helpers back and forth to the ramparts with food and drink. Mrs. Churchmouse and Mrs. Vole were making bandages from old clean sheets. Silent Sam had been left with Tim and Tess, the Churchmouse twins. He had played with the infants until they fell asleep in a heap of bandages studio for rent.

Crispy Cod with Pan-Fried Potatoes and Peas

Instead of cod, try the mustard and bread crumb topping on roasting pork, lamb chops or chicken breasts egrip vt 30w.
Total Time: 0:25
Prep: 0:25
Level: Easy
Yield: 4 servings (cost per serving of $2.27)
Serves: 4
Ingredients

1 tbsp. Dijon mustard
1 tbsp. whole-grain mustard
? c. panko bread crumbs
? c. Fresh tarragon leaves
3 tbsp. olive oil
1 lb. small new potatoes
4 cod fillets
kosher salt
Pepper
3 tbsp. cider vinegar
1 c. frozen peas

Directions Managed Cloud

Heat oven to 425 degrees F and line a broiler-proof rimmed baking sheet with nonstick foil. In a bowl, combine the mustards. In a second bowl, combine the panko, half the tarragon (about 1 tablespoon), and 1 tablespoon oil.
Heat the remaining 2 tablespoons oil in a large skillet over medium heat. Add the potatoes to the pan, cover and cook, tossing occasionally, until golden brown and tender, 12 to 14 minutes.
Meanwhile, place the fish on the prepared baking sheet. Spread the mustard mixture on top of the fish then sprinkle with the bread crumb mixture, pressing gently to adhere. Roast until the fish is opaque throughout, 10 to 12 minutes. Increase heat to broil and broil until golden brown, 1 minute.
Uncover the skillet, drizzle the vinegar over the potatoes and toss to coat evenly. Add the peas and cook until heated through, about 2 minutes. Remove from the heat and toss with the remaining tarragon. Serve with the fish you beauty.