Category Archive 上海龙凤

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hina to remain steadfast protecting national security

hina welcomes the United States’ willingness to develop a stable mi

litary-to-military relationship, but will remain steadfast in safeguarding national sove

reignty and security, a senior Chinese military official said on Saturday in Singapore.

In a keynote speech at the annual Shangri-La Dialogue on Saturday morning, acting US

Defense Secretary Patrick Shanahan said that China and the US can still have a cooperative rela

tionship. Although competition does exist between the two countries, it does not always mean conflict, he added.

Shanahan also noted some “destabilizing activities” in Asia and emphasized the US’s milit

ary presence and commitment in the region. He called for more communication between the US and Chi

nese militaries to settle their differences and build a constructive relationship

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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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Chinese investment in the United States is creating go

ood jobs in areas that are poor, where good jobs are needed,” he said. “We should celebrate that advancement of econ

omic opportunity in the United States. And similarly, we should expand US investment in China.”

US goods exports to China declined by 7 percent in 2018, as trade disputes between

the two economies began to bite, but still outpaced growth in exports to the rest of the world over the past decade, ac

cording to the 2019 State Export Report released earlier this month by the US-China Business Council.

The report said China continued to be important to US economic growth, supporting more than 1.1 million jobs.

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Data from the US Census Bureau showed that bilater

eral merchandise trade between the two

countries has declined by more

than 15 percent since September 2018, when the second round of tariffs went into effect.

“This has also impacted global value

chains in East Asia and other trading partners,” the report said.

“We’ve seen the trade tariffs that have

been introduced on both sides have already been damaging trade,” said Dawn Holl

and, chief of the Global Economic

Monitoring Branch in the UN Department of Economic and Social Affairs.

Holland said the adverse effects of trade tensions on economic growth in China “has been partly offset by some stimulus measures”.

According to the report, growth in China is projected to moderate gradually from 6.6 percent in 2018 to 6.3 percent in 2019, and 6.2 percent in 2020.

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Telecom carriers, chipmakers and smartphone vendors

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

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

ed 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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China has also recently announced a strengthened reg

gime of intellectual property rights protection. Again, this is what foreign negotiat

ors are seeking, but also is important for China’s own economy as it transitions to being a technology leader.

Trade agreements can affect the types of goods being traded and they can redirect trade toward one c

ountry, away from others. They cannot directly affect any country’s worldwide current account bal

ance. A country that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gov

ernment system to encourage increased savings. China has almost nothing to do with it.

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US soy farmers call for cool-down of trade tensions

US soy farmers have urged Washington to work for a positive solution to the current tarif

f dispute with the world’s top oilseed buyer China, and avoid further escalation of trade tensions.

In a statement released late Tuesday, the American Soybean Association (ASA) described the t

hreat by US President Donald Trump’s administration to increase the tariff rate from 10 percent to 25 p

ercent on $200 billion worth of Chinese goods as the “worst case” for US soybean growers.

“This is a predicament for soy growers,” said Davie Stephens, ASA president and a soybean farmer from Kentucky.

“With depressed (soybean) prices and unsold stocks fo

recast to double before the 2019 harvest begins in September, we nee

d the China market reopened to US soybean exports within weeks, not months or longer,” he added.

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Li Qiang, director of the Shenzhou Institute’s postgradua

raduate department, said China has trained hundreds of foreign space engineers since the mid-1990s.

However, those training sessions were mostly occasional, often accompanied a satellite export deal, and were mainly focu

sed on ground-based control and applications of satellites rather than their design and production, the director said.

“However, in recent years, along with the expansion in our cooperation in the space indu

stry with other countries, many of our foreign partners voiced their hopes that we could hold some sort of syst

ematic training programs to help them create their own spacecraft designers and technicians,” he said.

Therefore, he said, “We decided to open a two-year postgraduate prog

ram and then sent the message to countries having space cooperation with China.”

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As the state was looking for innovative ways to tackle

 the Asian carp problem, Kentucky awarded Yu its first-ever fish house contract in fall last year. Under the deal, Yu’s Kentucky Fish

Center will buy Asian carp at a guaranteed price, with part of this coming from a government subsidy.

All fish at the center will be sold by auction to buyers in the US or overseas. S

ales will be overseen by the Kentucky Department of Fish and Wildlife Resources.

Kentucky provided a secured $734,000 fixed-assets loan to help the center begin oper

ating. Additional incentives will be awarded every year based on performance.

The center needs to reach certain goals: to remove 2.26 million kg of Asian

carp from Kentucky waters this year and increase that amount gradually to just ov

er 9 million kg annually by 2024. If those goals are met, the loan will be waived.

The entire program will cost Kentucky about $4 million.

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The e-card, which applies across the country as a n

tionally unified social security card, can be used as a recognized form of ID and

contains functions such as information reco

rds, self-service enquiries, medical insurance settlements and payments, and financial payments.

Each electronic social security card corresponds with an actual social security card. Therefore, card holders can get t

hings done by scanning the QR code of the e-card even if they forget to bring the actual social security card.

The first electronic social security card was issued in Qingdao, East China’s Shandong pro

vince, in April 2018, and the e-card has been rapidly growing in popularity because it is easy to obtain and use.

An official from the ministry said that more than 25 percent of the social security card holders will have e-cards nex

t year, and a nationwide unified social security card system will cover the payment and settlement.

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