Passage 1
Hebei province will further support 1.____(it) cities Langfang and Zhangjiakou in their 2._____(effort) to become national leaders in computing capacity, 3._____(accelerate) the transformation of their development advantages into new productive forces, the province's top official said.
Wang Zhengpu, governor of Hebei, made the remarks on Monday 4.____ presenting the province's government work report at the opening ceremony of the third plenary session of the 14th Hebei Provincial People's Congress.
The session is part of the province's local "two sessions", the annual meetings where lawmakers and political advisers discuss last year's socioeconomic development 5._____(achieve) and outline plans for the year ahead. The local two sessions in Hebei began on Sunday and will conclude on Thursday.
According to the report, the province's comprehensive computing power index has climbed to the top position nationwide. The index evaluates performance across various areas, 6._____(include) computing capacity, storage capacity, network transmission 7.___(capable) and the development environment, underscoring Hebei's significant progress and leadership 8.____ these fields.
"In the digital economy era, computing power 9.___(be) becoming a new key productivity factor, much like electricity in the industrial age," said Qin Hongjun, 10.____ deputy to the Hebei Provincial People's Congress and chairman of the Hebei subsidiary of China Mobile Communications Group, during the local sessions.
Passage 2
Qin noted that technologies central to daily life and work such as intelligent search 1.____(engine), mobile maps, smart homes and self-driving cars cannot function without sufficient computing power.
In terms of computing power infrastructure, Hebei 2.____( deploy) over 3.9 million servers by the end of 2023, accounting for 3._____(approximate) 69 percent of the total computing power in use across the Beijing-Tianjin-Hebei region, according to Hebei Daily.
Among the province's cities, Langfang and Zhangjiakou have excelled 4.____ computing power development. By October 2024, 30 data center projects and 1.6 million servers had been constructed and put into operation in Zhangjiakou, 5.____(achieve) a computing power scale of approximately 22,800 petaflops.
A petaflop is a unit of computing performance; the 6.____(high) the value, the greater the computing power. By December, Langfang had operationalized 32 data centers and 316,000 standard cabinets, reaching 7.____ intelligent computing power scale of 8,559 petaflops, according to Hebei Daily.
Beyond computing power, Hebei has achieved notable progress in other 8.____(area).
Summarizing 2024, Wang 9._____(highlight) that the province's major economic indicators outperformed the national average.
Key achievements include an estimated GDP growth of 5.2 percent, total import and export growth of 6 percent, and per capita disposable income 10.____(grow) of 5.5 percent. Exports of electric vehicles, lithium batteries and photovoltaic products surged 97 percent, Wang said.
Passage 3
China's central bank governor vowed on Monday to resolutely guard against the risk of the exchange rate overshooting, 1.____ analysts said highlighted policymakers' growing priority of maintaining the general stability of the Chinese currency amid a strong US dollar.
"We will rectify pro-cyclical market behavior, 2.___(firm) address actions that disrupt market order and steadfastly prevent the risk of the exchange rate overshooting, 3.____(ensure) that the yuan exchange rate remains generally stable at a reasonable, balanced level," said Pan Gongsheng, governor of the People's Bank of China.
Addressing the Asian Financial Forum in Hong Kong, Pan said that non-US currencies have generally depreciated amid 4.___ elevated US dollar index. The yuan also felt the pressure, but has demonstrated strong resilience.
Regulators have "the confidence, the condition and the capability" to maintain the stable operation of the foreign exchange market, Pan said, adding that China's economy 5.____(expect) to have achieved the annual growth target of around 5 percent for 2024.
Reinforcing Pan's policy commitment, the central bank and the State Administration of Foreign Exchange raised the macro-prudential adjustment parameter for cross-border financing of corporates and financial institutions to 1.75 from 1.5 on Monday.
By raising the parameter, which determines an institution's upper limit of outstanding cross-border financing, authorities have allowed more overseas borrowing, thus 6.____(boost) onshore dollar liquidity and underpinning the onshore yuan against the dollar.
This followed the central bank's decision 7.____(issue) central bank bills worth 60 billion yuan ($8.18 billion) in Hong Kong on Wednesday, to help stabilize the offshore yuan.
"In a short period, regulators have repeatedly sent the policy signal of yuan stabilization, aimed at preventing any excessive accumulation of short-term depreciation expectations," said Wang Qing, chief macroeconomic analyst at Golden Credit Rating International.
Wang said that 8.____ the yuan exchange rate sharply deviates from economic fundamentals, regulators are poised to further tap into the policy reserves, such as macro-prudential management of overseas lending 9.____ contain capital outflows and a reduction of foreign exchange required reserves to boost dollar liquidity onshore.
Foreign exchange market supervision is also expected to be strengthened, analysts said. The China FX Committee, the guiding body of the self-discipline mechanism of China's foreign exchange market, 10.____(pledge) on Monday to promptly take measures against behavior that disrupts market order while requiring members of the mechanism to avoid exacerbating pro-cyclical behavior.
Passage 1
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Passage 2
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Passage 3
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