Carr has overseen the expansi

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Fans surround Brazilian international midfielder Oscar as he arrives at Pudong International Airport in Shanghai yesterday Nike Air VaporMax Womens , following his big-money transfer from England’s Chelsea to Chinese Super League club Shanghai SIPG. — Reuters
BRAZILIAN international midfielder Oscar was cheered by supporters of his new Shanghai club yesterday where some media reports said he would earn nearly US$500,000 a week, making him the highest-paid player in the world.

Financial details of Oscar’s transfer to Shanghai SIPG from English Premier League club Chelsea have not been released Nike Air VaporMax Flyknit Womens , but media reports have suggested SIPG paid 60 million euros (US$62.6 million) to lure the 25-year-old to the Chinese Super League.

Fans wearing the team’s red and white colors shouted “Oscar, Oscar!” when the Brazilian arrived at Pudong International Airport yesterday. He stopped to sign autographs before being led away by team officials.

“I think it will definitely enhance the team’s capabilities,” Shao Lei Nike Air VaporMax Flyknit Moc Womens , a 30-year-old SIPG supporter, said of the latest Brazilian to sign for the Shanghai club.

The figures cited in British media reports would make Oscar the world’s highest paid player at about 400,000 pounds a week (US$490 Nike Air VaporMax Flyknit 2 Womens ,760).

However, he could be eclipsed by Carlos Tevez when the Argentine signs a huge contract with crosstown rival Shanghai Greenland Shenhua that could earn the striker 615,000 pounds a week Nike Air VaporMax Moc 2 Womens , according to media reports.

SIPG finished third in the 2016 CSL season, which ran from March to the end of October, 12 points behind champion Guangzhou Evergrande and five behind second-placed Jiangsu Suning.

Oscar will link up with compatriots Hulk and Elkeson who are already plying their trade at SIPG Nike Air VaporMax Inneva Womens , led by former Chelsea manager Andre Villas-Boas.

Meanwhile, China’s buying binge continued into the New Year with Tianjin Quanjian FC luring Belgian midfielder Axel Witsel away from Zenit Saint Petersburg in Russia with an 18-million euro annual pay packet, Belgian media reported yesterday.

Over the four-year deal Witsel Nike Air VaporMax Plus Womens , 28, will pocket 72 million euros in salary at the club coached by Italian former World Cup winner Fabio Cannavaro, the 2006 world player of the year. Cannavaro has already coached Evergrande in China.

Witsel joins the second-tier club in northeastern China with immediate effect Nike Air VaporMax Moc Womens , Belgian TV station RTBF said on its internet page.

WELLINGTON， Sept. 27 (Xinhua) -- New Zealand's embattled central bank on Tuesday announced the appointment of an academic economist as its new chair.

Professor Neil Quigley was been elected chair of the Reserve Bank of New Zealand (RBNZ) board of directors， replacing Dr Rod Carr， at a time when the RBNZ is struggling against deflationary pressures， an overheated housing market and an overvalued New Zealand dollar.

Quigley is vice-chancellor of the University of Waikato， based in the North Island city of Hamilton， and has previously held roles as a professor of economics and senior manager at Victoria University of Wellington and the University of Western Ontario in Canada.

He was first appointed to the Reserve Bank Board in 2010.

Quigley appointed consulting research economist Kerrin Vautier as deputy chair.

Finance Minister Bill English said Quigley， who was elected unanimously by the board， had a distinguished academic and consulting career.

In a statement， English thanked Carr， who was first appointed chair in 2013， for his service and leadership.

"Dr Carr has successfully led the board through a challenging period during which the bank's ambit has widened to include the macroprudential framework and active supervision of the banking and insurance industries，" said English.

Carr has overseen the expansion of the RBNZ's macroprudential responsibilities as it struggles to rein in the country's overheated housing market， which RBNZ governor Graeme Wheeler has repeatedly warned is a risk to financial stability.

Despite inflation tracking well below its target band of 1 percent to 3 percent， the RBNZ has been reluctant to cut the official cash rate (OCR) for fear of further inflaming the housing market.

Moves over the last three years to curb mortgage lending through loan-to-value restrictions have drawn criticism that they are locking first-home buyers out of the market.

Announcing the RBNZ would hold the OCR at a record low of 2 percent last week， Wheeler said a decline in the exchange rate was needed.

"The high exchange rate continues to place pressure on the export and import-competing sectors and， together with low global inflation， is causing negative inflation in the tradables sector，" said Wheeler.

aws and nowemains excessive， posing concerns for financial stability. There are indications that recent macro-prudential measures and tighter credit conditions in recent weeks are having a moderating influence."

LONDON， Jan. 2 (Xinhua) -- Almost 50，000 new homes are to be built in 14 new garden villages announced Monday by British government officials.

The Department for Communities and Local Government (DCLG) has backed the scheme to help ease the country's housing crisis.

It followed a decision by the government last year for a program to create new garden towns.

The house-building program came against a background of housing shortages and rising costs for homebuyers.

Estimates published by the Houses of Parliament in 2015 put the need for additional housing in England at between 232，000 to 300，000 new units per year， a level not reached since the late 1970s， and two to three times the supply.

Under the latest scheme， the first ever smaller garden village projects will see between 1，500 and 10，000 homes built in England， each becoming distinct new places with their own comm

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