pending on health, education, and social protection coul

pending on health, education, and social protection coul

State Councilor and Defense Minister General Wei Fenghe will attend the Shangri-La Dialogue w

hich is set to open on Friday in Singapore, said Senior Colonel Wu Qian, spokesman for the Defense Ministry.

Wei’s attendance will be the second time China has sent its defense minister to the internati

onal security forum held by London-based think tank the International Institute for Strategic St

udies. The first time was in 2011, when General Liang Guanglie took part and delivered a speech.

General Wei is scheduled to speak on China’s security cooperation

with the international community and will meet heads of several foreign delegations to dis

cuss a wide range of topics, Wu said at a news conference in Beijing on Thursday.

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Any speculative activities to short the RMB will suf

Any speculative activities to short the RMB will suf

The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized ar

ound 6.89 per dollar for eight days from May 20, and market watchers said market-oriented depreciation pressure was losing steam.

Yi Gang, the central bank governor, has said several times that the PBOC has ceased dir

ect intervention in foreign exchange markets, and the performance of RMB is addressed mainly by market forces.

General Wei Fenghe, China’s defense minister, will attend the coming Shangri-La Dialogue set to

open on Friday in Singapore according to Senior Colonel Wu Qian, spokesman for the Defense Ministry.

Wei’s attendance will be the second time China has sent its defense mini

ster to the international security forum held by the London-based think tank International Insti

tute for Strategic Studies. The first time was in 2011, when General Liang Guanglie took part and delivered a speech.

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To eliminate bad outcomes from trade tensions, further op

To eliminate bad outcomes from trade tensions, further op

pening-up in China’s services sector, together with high-tech development supported by artificial intelligence, will help lift Chinese

economic growth from 6.3 percent to around 7 percent by 2035, said Zhu Min, a former deputy managing director at the IMF.

“Market-oriented reform and opening-up will improve productivity in the service sector, whi

ch is an important thing that China is focusing on to stabilize economic growth,” Zhu said.

Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest

ors are welcome to conduct all forms of financial business in China, excepting those being named on a nega

tive list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.

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tariffs by the US on solar imports, as well as the country’s anti

tariffs by the US on solar imports, as well as the country’s anti

dumping and anti-subsidy measures, have largely reduced China’s export to the country.

Photovoltaic modules export to India also slumped 24.4 percent to 1.81 GW in the first quarter, as the Indian government ordere

d that all photovoltaic modules for government and central public utilities projects should be 100 percent India-made.

China’s top five photovoltaic modules exporters in value in the first quarter were Jinko Solar, J

A Solar, Trina Solar, Canadian Solar, and Longi, taking up 12.8, 8.6, 8.3, 7.4, and 6.7 percent, resp

ectively, of total export value. Export volume of the top 12 exporters took up 65 percent of total export, added the report.

The report projected that China’s photovoltaic modules capacity will furth

er expand 8.5 percent to 83 GW this year, with nearly 50 GW exported to the overseas market.

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More comprehensive and well-targeted policy respon

More comprehensive and well-targeted policy respon

ses are needed to tackle the current growth slowdown,” Elliot Harris, UN chief economist and assi

stant secretary-general for economic development, said Tuesday at a news conference. “It is increasingly clear that policies to pro

mote sustainable development will need to look beyond GDP growth and identify new and more robust measures of

economic performance that appropriately reflect the costs of inequality, insecurity and climate change.”

In response to slowing growth and subdued inflation, major central banks have eased their monetary policy stances. The recent mo

netary policy shifts have helped to stabilize global financial markets and capital flows to emerging economies.

However, the report cautions that a more protracted period of monetary accommodation could exacerbate fina

ncial imbalances, including further fueling debt accumulation and raising medium-term risks to financial stability.

chengduyidong.cn

A hearing on the proposed tariffs on Chinese imports will

A hearing on the proposed tariffs on Chinese imports will

 take place on June 17, according to the Office of the US Trade Representative.

Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for Internation

al Economics in Washington, said the FDRA letter will add to the pressure on Trump to reach a deal with China.

“It will not be totally ignored,” Hufbauer said.

Over the past few weeks, business groups have voiced their concern that the escalating tariffs on Chinese imports risked knocking consumers off their feet.

The Retail Industry Leaders Association, for example, said in a st

atement: “The administration’s decision to announce a tax on every product coming from China pu

ts America’s entire economy at risk. Americans’ entire shopping cart will get more expensive,” it said.

www.shlfco.com

also largely now employ less-skilled working-class peop

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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China’s IPR protection efforts bear fruit for foreign enterprises

China’s IPR protection efforts bear fruit for foreign enterprises

China’s constant improvement of intellectual property rights pro

tection is a huge boon for popular foreign IPs like Peppa Pig to ride the country’s consum

ption boom, according to an executive from the trademark’s owner Entertainment One UK Ltd.

“There has been a very positive trend in China,” said Tim Pfeiffer

, the company’s senior vice-president of business affairs. “Our cooperation with the China Trad

emark Office has been very encouraging and we are more than happy to cooperate further.”

Beijing’s efforts have shown that it is serious about enforcing IPR protection to safeguard justice an

d social stability. Chinese courts have resulted in a 42 percent surge in intellectual property r

ights cases in 2018, according to the work reports of the Supreme People’s Court and the Supreme People’s Proc

uratorate that were submitted to the country’s annual national legislative session in March.

beiwenya.cn

Earnings growth may sustain at a rather high speed

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.

shsngw.com

Pilot blames lightning for deadly crash landingkhoi aircraft

Pilot blames lightning for deadly crash landingkhoi aircraft

The pilot of a Russian passenger plane that erupted in a ball of fire on the runway of Moscow’s busiest airp

ort, killing 41 of the 78 people aboard, said lightning led to the emergency landing, Agence France-Presse reported.

Investigators on Monday were working to understand the causes of the blaze after the Suk

hoi Superjet-100 returned to Sheremetyevo airport shortly after takeoff on Sunday evening.

Pilot Denis Yevdokimov told Russian media the aircraft lost communication and needed to

switch to emergency control mode “because of lightning” on the Aeroflot flight to the Arctic city of Murmansk.

He did not specify if the plane was struck directly.

“We managed to restore communication through the emergency frequenc

y on our radio connection. But the link was only for a short time and kept cutting out. … It wa

s possible to say only a few words,” he told The Komsomolskaya Pravda newspaper.

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