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mpetitiveness Outlook provides a compass for gover

eking University’s National School of Development and a former member of the central bank’s monetary policy committee.

“But the adoption of (overly aggressive) macro-polices should be avoided” and there is no need to r上海419

epeat 2009-type stimulation this time, Huang said last week. “Because it could have negative c上海419女神会所

onsequences, including excessive production capacity, inflation and asset bubbles.”上海419

Finance ministers and central bank governors from the G20 group gathered in Fukuoka, Japan, over the weekend and discuss上海419女神会所

上海419ed possible impacts of escalated China-US trade tensions on economic growth. The International Monetary F

und and the World Bank have recently downgraded their global growth projections for the next two years.上海419女神会所

Finance Minister Liu Kun warned at the G20 meeting that protectionism co

uld hurt global growth. “All parties should pay close attention to downside risks and joint

ly protect the rule-based multilateral mechanism. Trade disputes should be resolved on a basis of fairness and ra

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In the future, paperless se上海千花网品茶微信 big data to si

simplify security上海千花网品茶微信 inspection on risk-free passengers, and automatic luggage

sorting by artificial intelligence technology will be the development direction for airports, Hou added.

Meng Hongwei, former vice-minister of public security and ex-presid

ent of Interpol, pleaded guilty to accepting bribe of 14.46 million yuan ($2.1 million) a

s he stood trial at the Tianjin No 1 Intermediate People’s Court on Thursday.

He was charged with taking advantage of his position to get others

jobs and promotions in return for bribes either paid in cash or kind.

As per the court, Meng showed repentance during the hearing and the verdict will be announ

ced at a later date.Meng Hongwei, former Chinese vice-minister of public security and president of Interpo

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Architectural experts who have gained a hands-on unders

standing of the pros and cons of rural reconstruction through their work were also invited to hold a dialogue with the writers, which resonated so strongly with the

villagers that some of them surrounded the speakers afterward hoping to expand their discussions.

He Wei, assistant professor at the school of architecture at the Central Academy of Fine Arts in Beijing, w

ho has been leading several projects in the countryside, thinks a major problem is the conflicting demands between the elite class

of city dwellers, who tend to seek spiritual comfort in village life, and the villagers themselves who naturally want to i

mprove their quality of life. However, many of the rural traditions have been lost during the process.

“Once they leave the countryside, it’s hard for people to come back and settle, both in person and spiritually,” he says.

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utual trust also is growing between China and countr

ntries in the region due to joint efforts. The overall situation in the South China Sea is stable and becoming better, Shao said.

“Countries from the region have the will, wisdom and capability to manage differences an

d jointly promote peace, thus transforming the area into a sea of peace, friendship and cooperation,” he said.

On the Korean Peninsula question, China insists on denuclearizin

g the peninsula, and solving issues through dialogue and consultation, Shao said.

“China has consistently, seriously, fully and rigorously implemented the

United Nation’s resolutions regarding the peninsula,” he said. “China also is willing to w

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The US Treasury removed India from the watch list, whil

Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose mac

roeconomic stability risk,” said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

The world’s second-largest economy maintained its foreign exchange

reserves at $3.095 trillion at the end of April. The reserve amount was stable, although it sli

ghtly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.

Li Yang, director of the National Institution for Finance and Development of th

e Chinese Academy of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to def

end its currency, even if depreciation pressure rises amid any escalation in trade tension.

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Multiple channels needed to keep job market healthy

The Chinese government has accorded priority to achieving stable and expanding employment

among its six stabilization tasks. The importance of stable employment has also been highligh

ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp

loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues.

The government is making special efforts to stabilize and expand employment, especially be

cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade.

The China Institute for Employment Research of Renmin University

of China has calculated the employment market index, which shows the health of th

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Telecom carriers, chipmakers and smartphone vendors

 in China are ready to commercialize 5G. China will directly grant 5G licenses, instead of the prev

ious plan to give several key cities interim 5G licenses, to better time the rollout,” said a source clo

sed to the telecom industry regulator who asked to remain anonymous because public statements are not authorized.

Michael Gao Wenhao, deputy general manager of the 5G industrial products line at ZTE, disclosed at a 5G conference in

Hong Kong on Thursday that “China is likely to start commercial use of 5G nationwide on Oct 1”.

He told China Daily that he got the information from the country’s major telecom operators.

China said earlier that it was considering a pre-commercial launch of 5G this year, follo

wed by large-scale commercialization in 2020. Miao Wei, minister of industry an

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also largely now employ less-skilled working-class peop

ople. However, neither the US nor China can expect to keep, much less get back, low-wage, low-skilled manufacturing jobs.

Many people have the impression that Chinese goods are dominant in US markets. That is true only in a few highly com

petitive, low-profit sectors. According to US Commerce Department data, China has more than 50 percent of the

US market in such items as umbrellas, toys, prepared feathers, footwear, straw products, and bedding.

Chinese exporters have from 20 to 50 percent of the US market in ot

her low-value-added markets, plus electrical machinery and equipment, mechanical app

liances, and iron and steel. In most other categories, China has less than 20 percent of the US market.

China also assembles and then exports a lot of phones, computers and other gad

gets to the US. But, most of the profits and wages go to Japanese or South Korean componen

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Roughly 20 years ago, when China’s admission to the

World Trade Organization was being negotiated, China’s economy was ti

ny as a portion of world GDP. It was clearly a poor, less-developed country that, except in a f

ew areas, was not able to compete with Western companies in high-value-added products.

As Alexander Hamilton, the first US Treasury secretary, argued, a developing country may need to p

rotect its “infant industries” from already established foreign competitors. This was the policy foll

owed by the US in the 19th century and by Western Europe, Japan, and South Korea in the years after World War II.

China is no longer a poor country. It can no longer compete by using low-wa

ge labor. Fortunately, it has now developed world-class companies that are incre

asingly developing new products and services that can compete successfully in many foreign markets.

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Earnings growth may sustain at a rather high speed

Wang Yang, an analyst with Soochow Securities based in Suzhou, Jia

ngsu province, said that apart from the economic recovery underpinned by su

pportive policies, cyclical factors also imply that earnings growth will continue to recover in the rest of the year.

According to Wang, the current profit cycle of A-share companies started from 2

016 and should end with recovery this year, as the cycles usually last for 12 to 14 quarters.

This year’s gradual recovery in earnings growth could help the A-share market to withstan

d external uncertainties, said Yan Xiang, an analyst with Shenzhen-based Guosen Securities.

“It is quite different from 2018 when earnings growth of most companies deteriorated. Earn

ings growth, a determinant of the market trend, is likely to be on the recovery path,” Yan said in a note.

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