Monthly Archives: May 2019

President’s Russia visit eyes global stabilitys talks with his

President Xi Jinping’s upcoming visit to Russia reflects close cooperation between China and Russia,

which is important to maintain the stability of the international community amid rising uncertainties, analysts said.

Xi will make a state visit to Russia from June 5 to 7 and attend the 23rd St. Petersburg

International Economic Forum, Foreign Ministry spokesman Lu Kang announced on Wednesday.

The trip is part of the annual exchange of visits between the two countries’

heads of state, after Russian President Vladimir Putin attended the Second Belt and Road Fo

rum for International Cooperation in Beijing in April and had talks with Xi on the sidelines.

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In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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The strategic guiding role of national development plannin

ng should be leveraged to improve coordination mechanisms

for economic policies such as finance, currency, employment, industry, and regional develop

ment to ensure the nation’s economic development stays within a reasonable range, the statement said.

The meeting highlighted the importance of strengthening innovative cap

abilities as well as opening-up and cooperation in this regard, and called for improving the serv

ices and environment for opening-up and cooperation so that development is promoted through opening-up, inn

ovation is advanced through reforms and win-win results are achieved through cooperation, it said.

Tough and newly emerging problems should be resolved through deepening reforms, the state

ment said, adding that the capability of dealing with challenges and preventing risks should be intensified.

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The 5G tech will not only improve the way people liv

 live and work, but also accelerate China’s social digital transformation as well as build key competence amid the uphill battle in the global industry,” Huang said.

“There are huge investment opportunities for 5G industries, including materials, chips,

main equipment suppliers, base stations, antenna, cloud computing, internet of vehicles and the internet of things,” Hu

ang said. “5G will bring historic opportunities for China’s economic and social development.”

A new 5G research institute has also been established in Yizhuang, Beijing on Wednesday.

According to a new report by Global System for Mobile Communications Associ

ation, China is set to become the largest 5G market in the globe, with 460 million 5G users by 2025.

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The Sino-US trade tensions have had a limited impact

mpact on China’s financial markets and the effects will be “even smaller” in the future, Guo said.

Yi Huiman, chairman of the CSRC, also pledged earlier in May to continuously enhance the quality of listed firms as part of s

upply-side reforms in the financial sector to promote the high-quality development of the real economy.

The National Development and Reform Commission, China’s top economic planner, said on

Tuesday that the country is willing to continue supplying rare-earth metals to world markets but is oppo

sed to those who use products made with such rare earths to “suppress and dampen China’s development”.

It also said that the industries of China and the United States are highly compleme

ntary. Cooperation will benefit both countries while confrontation will only undermine their interests, it said.

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RMB’s value determined by market forcesce forex rese

Category : 上海楼凤

Beijing will not sacrifice forex reserves to defend its currency, analysts say

China would rather rely on market-oriented forces to determine the renminbi’s value than defend its currency by d

ipping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said.

The United States Treasury announced on Wednesday that it could not label China a

s a “currency manipulator” after Washington monitored the recent performance of the RMB.

No evidence was found to show Chinese monetary authority intervention in foreign exchange markets over the past sev

eral months, according to the US Treasury’s semiannual foreign-exchange report to Congress.

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Xi envisions cooperation on big data development

resident’s message calls for tackling legal, security, governance challenges

President Xi Jinping called on Sunday for strengthened cooperation among countries to explor

e opportunities of digital, internet-based intelligent development and to properly address leg

al, security and governance challenges arising from big data industry development.

He made the remarks in a congratulatory letter to the China Intern

ational Big Data Industry Expo 2019, which kicked off in Guiyang, Guizhou province.

The new generation of information technology, represented by the

internet, big data and artificial intelligence, is booming at present and has significant and

profound influence on various countries’ economic development, social progress and people’s lives, Xi said in the letter.

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Nearly three years after the United Kingdom voted by per

rcent to 48 percent to leave the EU, it remains a member and its politicians are still argui

ng over how, when or even whether the country will leave the club it joined in 1973.

May quit on Friday, saying it was a matter of deep regret that she had been unable to deliver Brexit and

arguing that the decision of the 2016 referendum should be honoured. That opened up a period of furt

her uncertainty as the Conservatives decide on who will take over as party leader and prime minister.

BBC projections put the Conservatives on around 10 to 12 percent, down fr

om 23 percent in 2014, likely to be one of the party’s worst results in a nationwide election ever.

The Brexit Party was in first place, and was likely to do better than

the UK Independence Party did in 2014, according to BBC projections.

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Since agricultural products account for a relatively smal

ll percentage of China’s total exports to the US, the tariff hike is expected to have a limited impact on its overall trade. But Chi

na’s export of textiles, chemicals, daily necessities and some other products will be affected. Yet the effect of the h

igher tariffs would be somewhat offset due to the ratio of foreign capital and value-added goods in China’s foreign trade.

In terms of product category, the tariffs are targeted at intermediate and capital goods. Intermediate prod

ucts, capital goods, and consumer goods account for 51 percent, 32 percent and 17 percent of t

he $250 billion of Chinese goods on which the US has imposed higher tariffs (the US had already slapped higher tari

ffs of $50 billion of Chinese goods last year). And since 29 percent of consumer goods, 39 percent of capital goods and 74 perce

nt of intermediate products face higher tariffs, intermediate products will be the most affected by the US tariffs.

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It is time therefore that China and the US addressed ea

ch other’s concerns on the basis of mutual respect and equality, and strived to reach a win-win deal as soon as possible, bec

ause that it would be conducive to the development of not only the two countries but also the whole world.

Little angel, happy children’s day,” reads a note on a wreath laid on the gravestone of Maodou, who died just six days after she was born.

On Saturday, Maodou’s family and staff from the Huzhou Red Cross in East China’s Zhejiang pro

vince presented the wreath and toys at her grave. Her organ donation certificate was given to her fat

her surnamed Mao, who decided to donate the baby’s corneas and kidneys.Maodou, you went away without once

seeing the world. Now the people who have received your corneas will see it for you. I know you would have sup

ported Dad’s decision. And please take care of Mom for me in the afterlife,” Mao whispered in front of the grave.

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