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True, the first quarter of 2019 yielded better-than-expe

ted results. But the higher rate of FAI growth was to a large extent driven by a strong increase in investment in real estate, which is l

ikely to weaken sooner or later owing to the government’s commitment to cooling China’s “real-esta

te fever”. And, given the trade frictions with the US, China’s export performance for the rest of 2019 is highly uncertain.

To compensate for declining investment in real estate and weakening exports, China must maintain reasonable growth in inf

rastructure investment. To that end, the government should pursue higher spending (taking advantage of a strong fis

cal position), supported by accommodative monetary policy (amid very low inflation).

Fiscal and monetary expansion may be out of fashion among China’s mainstream economists, who insist that struct

ural adjustment must be the priority. But it could go a long way toward bolstering China’s economic per

formance in 2019, without impeding structural reform. The challenge is to strike the right balance.

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need to promote exchanges among civilizations and

 dialogues based on harmony in diversity and inclusiveness. We need to undertake the cultural responsibility of inter

national communicators, and let exchanges of culture and among civilizations, as well as mutual learning, co

nstantly serve as bridges for people’s friendship, the impetus of international cooperation and bond of world peace.

Second, we should become builders of world peace and development. The wheel of humanities’ de

velopment is unstoppable. Peace, reconciliation and harmony are historical trends. Equality, mut

ual trust and win-win cooperation are historical necessities. Yet, as international conventions are attacked an

d multilateral mechanisms are challenged, the anti-globalization tendency rises, and unilateralism and tra

de protectionism are becoming increasingly fierce. We must adamantly safeguard the contemporary interna

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Overholt said “the list of issues that President Xi has

addressed are the issues that the business community is concerned about”.

“It is excellent that President Xi recognized some problems,” especially those associated with its Belt and Road Initi

ative, such as transparency and corruption, said Craig Allen, president of the US-China Business Council.

Experts also were interested in how the reform policies and laws would be implemented, something Xi addressed in his speech.

“People are very positive about the direction, but they need to

know the details” of how the promises would be delivered, Overholt said.

Xi, citing the old Chinese saying “honoring a promise carries the weight of gold”, pledged to install a binding mec

hanism for international agreements, to make sure governments at all levels operate in well-regulated wa

ys, and to update laws and regulations to abolish unjustified practices, keeping in line with the needs of opening-up.

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said that “all military units deployed in the eigh

The People’s Bank of China (PBOC), the central bank, has upgra

ded the fifth edition of the renminbi (RMB), the Chin

ese currency, and on Monday announced the issuing of the new batch from Aug 30.

The new issuance will include notes with a face value of 50 y

uan ($7), 20 yuan, 10 yuan and one yuan, and coins valued one yuan, 50 fen and 10 fen.

Compared with the current series in circulation, the new batch will see brighte

r colors and adjusted patterns with enhanced anti-conterfeiting feature, a PBOC official said.

The five-yuan note will not be in the upcoming issuance as new technologies on the note are still under testing. The 100-y

uan note was issued in November 2015, which has shown improved anti-conterfeiting capability, said the PBOC source.

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In 2018, Huawei spent $15.3 billion on technology R&D

ranking in fourth place following Samsung, Google’s parent Alphabet and Amazon. Data als

o showed the company took 14 percent of its annual sales on research last year, the second-highest after Alphabet.

Huawei’s R&D spending totaled 480 billion yuan ($71.3 billion) over the past 10 years, ac

cording to its annual report. Besides, the tech behemoth achieved 721.2 billion yuan in global sales in 2018, a 19.5

percent increase year-on-year, and net profit reached 59.3 billion yuan, up 25.1 percent compared with a year earlier.

Smartphone sales from the company gained 348.9 billion yuan las

t year, a 45.1 percent rise year-on-year accounting for 48.4 percent of total revenue.

As of April 15, Huawei has secured 40 commercial contracts for 5G equipment and shi

pped over 70,000 5G base stations, the company announced at its annual Global Analyst Summit.

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The annual report estimates that total electricity cons

umption in 2019 is expected to grow 5.8 percent. Demand for coal is expected to hit 3.95 billion

tons, with the power sector still playing a significant role in the consumption of coal.

Consumption of oil is predicted to reach 620 million tons, up 1.6 percent year-on-year, while

the growth rate for natural gas consumption is expected to slow, with an annual consumption of 310 billi

on cubic meters in 2019, up 10.4 percent year-on-year, it said.The 2019 Beijing International Horticultural Ex

hibition (Expo 2019 Beijing) opens to visitors Monday, and will showcase a wide variety of flowers, fruits, vegetables and

herbs from across the world, including more than 300 rare and endangered plant species.

Nearly 20,000 volunteers across media, translation and giving directio

ns will work at the 162-day event, running April 29 – Oct 7. Click to watch their greetings in s

even languages: Chinese, English, Russian, French, German, Spanish and Japanese.

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The first draft also improved rules on developing a m

ulti-layer capital market system, strengthening investor p

rotection, promoting securities industry innovations and enhancing regulation.

New revisions were submitted for a second reading in April 2017 to

improve regulation on such areas as stock trading, acquisitions of listed firms, information disclos

ure and investor protection. The second draft also demanded the State Council to gradually advance the IPO syst

em reform in accordance with authorization granted by the top legislature.

Note: The following article is taken from the Chinese-language “Commentaries on International Affairs”.

On Thursday, the World Trade Organization (WTO) release

d a panel report on the case the United States lodged in December 2016 against China for its

use of tariff-rate quotas for wheat, rice, and corn. The WTO panel ruled that China’s administration of tariff-rate quo

tas violated its commitment to administer them transparently, while rejecting

the appeal by the American side which demanded that China release the information on tariff-rate quotas.

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The lawsuit accused Liu and JD on six counts of false im

prisonment, civil assault and battery, as well as sexual assault or batter

y, seeking damages in excess of $50,000, according to a report from Reuters.

The court filing said JD is “vicariously liable” for Liu’s behavior as his alleged actions happened while

he was “seemingly” at work-related activities, and the assault and battery began in the presence of two other JD employees.

“We have not yet reviewed the complaint and are not going to comment on pending litigation, but based on the Hennepin County A

ttorney’s declination to charge a case against our client and our belief in his innocence, we feel strongly that this suit

is without merit and will vigorously defend against it,” Liu’s attorney Jill Brisbois said in a written statement.

Peter Walsh, an attorney for JD, said in a statement while it was not prepared to com

ment at this time, the company would vigorously fight against these “meritless claims”.

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Yorobe said on-site studies have shown that the vari

ieties introduced to the Philippines through the Green Super Rice project are capable of thriving in harsh environments and maintaining steady yields.

“After Typhoon Haiyan swept through Leyte Island in the central Phi

lippines in November 2013, we found that the Green Super Rice variety was one of the few that w

as still growing when submerged in saline water,” he said. “Local farmers were elated and regained hope.”

In West Africa, six Green Super Rice varieties with high-yield potential and strong tolerance to drought, salinity and iron to

xicity have been developed, and about 14.5 metric tons of such seeds were distributed to local rice breeders, ac

cording to Baboucarr Manneh, a researcher with the African Rice Center in Cote d’Ivoire.

“Moreover, about 500 scientists, technicians and farmers hav

e been trained in fields such as breeding, seed production and crop management th

rough the project. The training helps increase their capability and achieve sustainable growth in the future,” he said.

ypfna.cn

British lawmakers reject all four Brexit options in sec

British lawmakers on Monday voted to turn down all the four proposed Brexit options on the ta

ble, the second time since Friday that none of MPs’ proposed Brexit options wins clear backing in the House of Commons.

MPs voted down all the four Brexit proposals chosen by House Speaker John Bercow in a bid to break

the current Brexit deadlock. The British government has until April 12 to decide how Britain will leave the European Union (EU).

None of the four alternatives to British Prime Minister Theresa May’s Br

exit deal receives support from a majority of MPs in the second round of “indicative vote,” whi

ch kicked off at around 20:00 BST on Monday and whose results were announced at around 22:00 BST.

MPs voted 261 to 282 to reject the proposal that the United Kingdom stays in the single market and negotiates the customs union with the EU.

The customs union proposal means Britain’s close trading relations with the European Union after Brexit.

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