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 theRead More →

eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho ugh it slightly 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 the Chinese Academy of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de fend its currency, even if depreciation pressure rises amid any escalation in trade tension. In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen t under market pressure as global investors worriedRead More →

 Chen Xiang, head of the sports bureau of Qiannan prefecture in Guizhou, t old the It was agreed after meetings with education authorities and parents of stud ents that the large crowd gathered during dragon boat races will create noise, Chen said. Therefore, the dragon boat racing activities in the city, previ ously scheduled on June 5-7, were postponed to June 9-11. Teams participating in the races were cont acted and told the reason for the delay. They understood the reasons, Chen added. An official at the sports bureau of Chizhou city, Anhui, said they have received letters and calls f rom parents ofRead More →

rough” and exceeded $100 billion in 2018, and the two permanent members of the United Na tions Security Council have been coordinating closely on major international issues, Ruan said. This year marks the 70th anniversary of the establishment of bilateral ties, which are said to have reached their best level in history. Also, the attendance of the two countries’ leaders at each other’s intern ational forums shows both sides’ support for an open global economy, Ruan added. Addressing the plenary session of the Fourth Eastern Economic Foru m in Vladivostok, Russia, in September, Xi called for regional members to actively alig n their development strategiesRead More →

 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 theRead More →

form and opening-up drive, and said the country’s success has not only brought changes to itself, but als o has profound and positive influence on the world. Vanuatu firmly honors the one-China policy and supports the Chinese government in its efforts to realize peaceful national reunification, he added. oreign investors may get access to more onshore commodity contracts  China will give foreign investors more access to its commodity futures market as part of it s continuing efforts to strengthen the real economy, the top securities regulator said on Tuesday. The move will benefit both overseas and domestic market participants, and the opening-up of the stockRead More →

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 inRead More →

counting for about 80 percent of global supply. However, the country’s rare-earth industry is faced with such pro blems as rapidly decreasing inventory, inefficient production and environmental pollution. Analysts also said that the low prices of China’s exports have failed to reflect the real value of the precious resource. The division of labor of the global rare-earth industry should be coo rdinated in accordance with the principle of opening-up and sharing, the NDRC said. While the country prioritizes the domestic use of rare-earth meta ls, it is willing to see its exports help drive the development of global industries, it said. www.gzbbcl.comRead More →

ge’s UK Independence Party won with 26.8 percent, followed by Labour on 24.7 percent and the Conse rvatives on 23.3 percent. The Greens won 7.7 percent in 2014 and the Liberal Democrats 6.7 percent. Turnout was 35.6 percent. Greater access to China’s financial sector will encourage global investors and dispel the gloom clouding the g lobal economy amid Beijing’s trade tensions with Washington, according to senior officials and economists. Chinese financial regulators are preparing a comprehensive opening-up, with more new measures in the pipeline. Foreig n institutions with advanced performance in risk management, credit rating, consumer finance, endowments and health insurance are especially welcome, senior officials stressedRead More →

trade, they could decline by 0.134 percent, 0.323 percent and 0.869 percent. Th e US tariff hikes therefore will increase the economic pain of the US and world economies. Agricultural products, chemicals and chemical products, textiles and g arments are the main US items targeted by China’s higher tariffs. But despite the higher tar iffs providing some protection for domestic industries, Chinese consumers might have to pay more to purchase them. In the first four months of this year, the volume of Sino-US trade dropped by 15.7 percent to $161.23 billion. In terms of product structure, US exports of raw materials and foods to ChinaRead More →