Month: May 2019
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.
this year was 1.68, down from 1.91 in the first quarter of 2018. Although the figure was above 1, the balance line, it was the first decline since the beginning of 2018.
About 8.34 million new college graduates and 2 million migrant workers are expected to enter the job market this year. Added to the list of job seekers woul
d be those who lose their jobs because of the industrial structural transformation and special type of job see
kers such as veterans. This means at least 12 million urban jobs have to be created this year.
Still, the employment pressure this year is not overbearing for two re
asons. First, the number of job seekers has not increased considerably from last year.
In fact, the number and ratio of China’s working-age people have both d
eclined for the seventh consecutive year. Over the past seven years, China’s working-age
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.
lear that if the US treats the Chinese negotiating team with respect and shows the willingness to talk wit
hout using outside pressure, there is a high possibility that there could be a productive trade deal.
“Otherwise, I think we might be facing a prolonged period of problems for both sides,” she said.
Regan, at the close of their 15-minute talk, said again, “No one wan
ts trade wars. But we have to think long hard about the right next steps.”
Liu, however, did counter an assertion by Regan that China’s government controls its entire economy.
“Everybody thinks that China’s economy is state-owned, state-controlled, every
thing is state, state, state. Let me tell you that is not the true picture,” Liu said. “We are a
anies and fund managers entering the market, and assisting in formulating the Futures Law.
“As prices of bulk commodities fluctuated frequently and shar
ply in recent years, the real economy has a huge demand for risk management,” Lu said, str
essing the importance of accelerating the development of the futures market amid uncertainties.
China stepped up efforts to open up the commodity futures mar
ket last year, making three futures contracts available to f
oreign investors so far, including crude oil, iron ore and purified ter
ephthalic acid (PTA), a raw material for making plastics.
to discuss reductions in tariffs in industrial goods and to seek agreement on conformity assessments. EU Trade Commissioner Cecilia Malmstrom is opp
osed to any quota agreement on cars and has lambasted the national security excuse put forward by the White House.
The most prominent supporter of free trade is the center-right European People’s Party which lost sea
ts largely to right-wing parties opposed to free trade, and to the Greens which want tougher conditions attached to trade deals.
The center-left Socialists are also broadly in support of free trade but lo
st seats, while the pro-trade Liberals (the Alliance of Liberals and Democrats for Europe) gai
ned seats. But the Liberals are now aligned with French President Emmanuel Macron’s En Ma
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.
nsultancy Automotive Foresight, said SEAT’s smaller cars will help its parent company to reach custo
mers in China’s smaller cities, where electric cars built on Volkswagen’s own platforms would be less affordable.
Volkswagen, as well as its subsidiaries from Audi to Porsche, plan to deliver aro
und 1.5 million electrified vehicles, most of them pure electric cars, in China by 2025.
It also expects global sales of electrified vehicles will total 22 million by 2028, and half of them will be produced in China.
China overtook the United States as the largest producer and market of new energy vehicles in 2015.
The China Association of Automobile Manufacturers expected sales of su
ch vehicles to reach at least 1.6 million this year, up from 1.2 million in 2018.
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.
Lu Yong, vice-president of Huawei Technologies Co, said China’s d