For those who are concerned about China’s economic well-being, the first half-year fig
ures released by the National Bureau of Statistics on Monday may not be enough to relieve them of their worr上海419
ies, especially given the ongoing trade conflict with the United States and weakening global demand.
上海419After all, a 6.2 percent growth in the second quarter — although still within the gove
rnment’s target range of 6-6.5 percent for the year — was the weakest in nearly three decades.上海419
This, together with lukewarm trade readings released on Friday — exports fell 1.3 percent in June from a year earlier and imports dropped 7.3 percent — sugge
sts economic conditions are still severe and, with external uncertainties on the rise, the economy “is under new dow
上海419女神会所nward pressure”, as NBS spokesman Mao Shengyong said at a news conference.
But again, this is really a question of do you see the glass half empty or half full, given that
China remains one of the world’s fastest-growing major economies. While pessimists focus on the diffi
culties, optimists see the silver lining of the Chinese economy’s remarkable resilience given the headwinds it faces.上海419
For example, retail sales, a major gauge of consumption, surged 9.8 percent, much higher than the expected 8.5 percen
t and also the highest since March 2018. Many analysts attribute the progress to the central government’s ef
forts to boost domestic consumption — these range from massive tax cuts of nearly 2 trillion yuan ($291 billion) to the iss上海419女神会所
uance of 2.15 trillion yuan of special bonds by local governments for infrastructure construction.
上海419Other strong data, such as a 6.3-percent increase in industrial output an
d a 5.8-percent rise in January-June fixed asset investment, all indicate that the fund
amentals for steady growth remain unchanged and the government still has ample room for policy maneuvers.
Actually, once last month’s much-better-than-expected gains in retail上海419女神会所
sales, factory output and fixed-asset investment were announced, the market quickly cast its vot
上海419女神会所e of confidence in the Chinese economy. The benchmark Shanghai Composite Index ended 0.4 percent up on Monday a
fter casting off losses that had pushed it down as much as 1.5 percent in the morning ahead of the data release.
President Xi Jinping made an inspection tour to North China’s Inner Mongolia autonomous region on Monday.
At a local community in Songshan district of Chifeng city, Xi, also general secretary of the Communist Party of China Central Commi 上海419品茶微信
ttee, learned about the grassroots party-building work as
上海419well as the development of national integration and unity.
Later, he visited the Chifeng Museum, where he was briefed on the evolution of loca
l history and culture of the city and talked with the inheritors of the epic of King Gesar. 上海419
The Gesar epic tradition was listed as a World Intangible Cultural Heritage in 2009.
上海419品茶微信hina’s Tiangong II space lab will spend its last days in orbit this week before making a controlled fall on
Friday back into Earth’s atmosphere, according to the China Manned Space Agency.
All of the space lab’s assigned tasks have been finished. It is scheduled
to fall out of orbit and reenter the atmosphere under ground control on Friday, the agency said. 上海419
Most of the spacecraft will burn up during the reentry process, with a small amount of de
上海419品茶微信bris expected to fall in a designated secure area in the South Pacific Ocean, it added.
Preparations for reentry are underway, the agency said, saying China will publish related infor
mation or inform relevant parties in a timely manner to fulfill its international obligations. 上海419
Tiangong II was put into orbit in September 2016 atop a Long March 2F carrier rocket from the Jiuquan Satellite La
unch Center in the Gobi Desert. The space lab is 10.4 meters high, 3.35 m in diameter and weighs 8.6 metric tons.
上海419品茶微信Two astronauts, Jing Haipeng and Chen Dong, entered the lab that October after the
ir Shenzhou XI spacecraft docked with the lab and remained there for 30 days.
From April to September 2017, Tiangong II and Tianzhou I cargo spacecraft performed several docking and in-orbit refuel
ing operations, which demonstrated resupply and refueling technologies for a space station. 上海419
The space lab also carried out a series of scientific and technological experiments.
上海419品茶微信Its predecessor, Tiangong I, was launched in September 2011 and was mainly used to test technologies involved in space re
ndezvous and docking. Tiangong I fell back to the Earth in April 2018 in an uncontrolled manner.
University, said, “Although the DMZ meeting has created significant momentum that will help restart a change on the Korean Peninsula, as sanctions will remain in place, chances are
上海419品茶微信not high that the meeting will lead to a major change in the short-term trajectory of denuclearizing the peninsula.”
One of the most encouraging signs that emerged from the meeting between President Xi Jinpi
ng and US President Donald Trump on the sidelines of the G20 Summit in Osaka on Saturday was the s 上海419
oftening of Trump’s stance on the sanctions the US administration had imposed on Chinese telecommunications equi
pment provider Huawei. Trump said US companies can continue selling telecom components to Huawei. 上海419
If US companies indeed continue selling telecom components to Huawei, it will come as a big relief to the world at a time when th
e international community fears the “technology decoupling” of world’s largest and second-largest economies could u 上海419品茶微信
ndermine global technological development, especially the commercialization of 5G technology, in which Huawei is a leading global player.
Previously the US administration was reportedly mulling banning 5G telecom equipment designed and manufactured in China, includin 上海419
g those made by multinational companies such as Ericsson and Nokia, from the US market.
The fact is, as a global leader in 5G, Hu
上海419品茶微信awei is too big to fail. After the US administration banned American companies from selling chips to Huawei an
d other Chinese companies, Silicon Valley has suffered as much, if not more than, Huawei. Besides, some companies co
ntinued to supply chips to Huawei via their overseas branches in order to avoid violating the US ban. 上海419品茶微信
Hopefully, the Xi-Trump meeting and the likely resumption of trade talks between China and the U
S will prompt Washington to adopt a consistent and the right approach toward Chinese high-tech co
mpanies, not least because China tends to treat all companies, domestic as well as foreign, equally. 上海419品茶微信
For example, with research and development centers and manufacturing bases in China, Er
icsson and Nokia have won big contracts in the just launched bid for 5G network devices. These companies hav
e been supplying to markets and serving telecom operators and enterprises across the globe, by capi
talizing on China’s skilled workforce, world-class infrastructure and complete industrial chain.
Yet, if the US does not lift the ban, such companies would have to endure higher production co
sts. They could even be forced to transfer their businesses out of China, although both Ericsson and Nokia cl
aim they can operate production bases in other countries despite the higher costs, due to the flexible supply chain.
hina’s innovative and high-quality development,” Sui Zhenjiang, vice-mayor of Beijing, said on Wedne
sday during a 5G industrial development and investment summit held in Yizhuang, in southeastern Beijing.
“Beijing is actively transforming itself as a national scientific and tech
nological innovation center. With advantages in complete telecom infrastructure, abunda
nt talent and strong research and development capabilities, we have the resolve to accelerate the push for making brea
kthroughs in 5G technologies and build an independent and innovative 5G industrial system,” Sui said.
As of May 24, the three major telecom operators－China Mobile, Chin
a Telecom and China Unicom－have established 4,700 5G base stations in Beijing, acc
ording to Wang Gang, head of the Beijing Municipal Bureau of Economy and Information Technology.
tions at the Brussels summit, has pledged to intensify discussions on the rules concerning in
dustrial subsidies, a priority for the WTO reform for the EU. This is being seen as a breakthrough by the EU side.
In fact, almost all countries provide subsidies for domestic companies in certain sectors, and i
n most cases, China has given subsidies to Chinese companies in strict accordance with WTO rules as its ultim
ate goal is to achieve complete marketization. Yet intensifying discussions on industrial subsidies and other
sensitive issues, including intellectual property rights protection, is a step that must be taken to not only addre
ss WTO members’ concerns, but also invigorate the organization and the global trading system.
China, US should jointly promote WTO reform
Chen Fengying, a senior researcher in world economy at the China Institutes of Contemporary International Relations
The Office of the United States Trade Representative seems to have made dr
iving the WTO reform its priority so that Washington can claim the discourse rights in global t
rade mechanisms and lead the process for making new trade rules and establishing a new global trading system.
the foreign investment law, a landmark legislation that will provide stronger protection a
nd a better business environment for overseas investors. The law will become effective on Jan 1, 2020.
Artificial intelligence will bring about changes as fundamental as t
hose enabled by electrification, argues Li Kaifu, Chinese artificial intelligence specialist and fo
under of the venture capital firm Sinovation Ventures. He says that China is leading in real-world applications of AI to bus
inesses, factories and cities, and is catching up with the United States in basic research.
Li’s technological optimism contrasts with a widespread pessi
mism about technology prevalent among thinkers from Silicon Valley.
For example, famed venture capitalist Peter Theil uses the slogan “We wanted flying cars, ins
tead we got 140 characters” as the subtitle of his investment fund. In many interviews, he ha
s explained that we’ve seen “innovation in the world of bits, but not in the world of atoms”.