The meeting required Shanxi province, a coal-abundan

t area in North China, to conduct pilot reforms in its energy industry and take the lead in the whole country in areas suc

h as promoting clean and low-carbon energy use and enhancing innovation in energy technologies, it said.

Efforts should be stepped up to build a higher-level, higher-quality food s

ecurity system that is more efficient and more sustainable to guarantee the nation’s grain

reserves, the statement saidThe head of the US-China Business Council, whose members include major US chip

makers that are suppliers to Huawei Technologies Co Ltd, said that the ban on the Chinese telecom giant would come at a co

st to US businesses, and that fair engagement across technologies would be better than decoupling.

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US President Donald Trump, in the name of “national sec

urity”, signed an executive order on May 15 that led the US Department of Commerce to put Huawei and its affilia

tes on an Entity List, which would restrict the sale or transfer of US technologies to the company.

Craig Allen, president of the council, said many of its members are suppliers to Huaw

ei, and all of them have been impacted by the Department of Commerce’s move.

Founded in 1973, the council represents around 200 US companie

s doing business with China, including Apple and Microsoft. It also includes chipmakers Inte

l and Qualcomm, which have said they would stop offering supplies to Huawei until further notice.

The members will follow US law, but there is a cost associated with that, Allen told China Daily.

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Multiple channels needed to keep job market healthy

The Chinese government has accorded priority to achieving stable and expanding employment

among its six stabilization tasks. The importance of stable employment has also been highligh

ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp

loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues.

The government is making special efforts to stabilize and expand employment, especially be

cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade.

The China Institute for Employment Research of Renmin University

of China has calculated the employment market index, which shows the health of th

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The currency’s depreciation was purely caused by mark

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at

tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.

According to Guo, the short-term fluctuation of the RMB exchan

ge rate was normal, and the depreciation will not last long given the stable economic growth base.

“Any speculative activities to short the RMB will suffer huge losses,” he warned.

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

nd 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

direct intervention in foreign exchange markets, and the performance of RMB is address

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ang said by the end of this year, 5G network construc

The Beijing municipal government plans to invest at least 30 billion yuan by 2022 to build 5G networks, according to a 5G devel

opment plan released in January. In Beijing’s road map for 5G development from 2019 to 2022, the municipal gov

ernment has set a goal to develop its 5G-related industry to realize an income of 200 billion yuan by 2022.

The city said it hopes that by 2022, Beijing-based scientific research

units and enterprises can be a key contributor to global 5G technical standards, acc

ounting for more than 5 percent of all primary and essential international 5G patents.

Huang Jianjun, vice-president of China Jianyin Investment Ltd, said 5G technologies have been deeply integrated with

artificial intelligence, big data, the internet of things and other emerging technologies, ushering in a new era of in

ternet of everything and deep interaction between humans and machines.

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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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Accelerating the opening up of China’s commodity futu

ures market will help foreign investors optimize their renminbi-denominated asset portfolios as they can inc

orporate investment targets of a wider variety, said Wang Tingting, an associate pro

fessor of finance with the Central University of Finance and Economics in Beijing.

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures market to foreign invest

ors, as they have large exposure in the A-share market and are therefore in need of this risk management tool.

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China you picked the wrong fight!” Regan tweeted on

On May 22, on her own program, The Point With Liu Xin, Liu a top anchor on the English-languag

e channel of CGTN, said the $600 billion figure is an estimate by a nonprofit organization that had not been verified.

Liu said it refers to the US’ possible IP loss to the world in a year, according to the organization’s report, China Daily reported.

She said Regan’s points were “all emotion” with “little substance”.

Regan responded on Twitter: “Hey #China State TV – let’s have an HONEST debate on #trade. You

accuse me of being ’emotional’ and not knowing my facts – wrong! You name the time and place, and I’ll be there!”

In accepting the challenge, Liu wrote on Twitter: “My name is not #China State TV. It’s LIU Xin and ple

ase, feel free to call me Xin. … But I don’t want to play any mud throwing game, if that’s what you prepare to do.”

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he May report summarized that China’s growth appear

ears to be stabilizing on the back of recently enhanced supportive measures.

The report expanded the number of countries it scrutinizes for curr

ency manipulation to 21 from 12. Countries with a current account surplus with the US e

quivalent to 2 percent of GDP were put on the watch list, compared with 3 percent of GDP before.

China didn’t meet the “currency manipulator” criteria listed by the US Treasury, but Washi

ngton will continue assessing the RMB’s performance given China’s large trade surplus with the US, the report said.

The US Treasury removed India from the watch list, while it added Singapore, Malaysia and Vietnam.

“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 macr

oeconomic stability risk,” said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

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ue to encouraging weather forecasts, many teams decid

ed to scale the summit from the Nepali side on May 22 and 23. As a result, crowded conditions form

ed about 100 to 150 meters from the peak, Ma said in Kathmandu, Nepal’s capital. “I was force

d to wait in a line for about 20 minutes on my way down. Such circumstances can be fatal to climbers if the

y panic and consume more oxygen than planned. Also, they can easily get frostbite if they don’t keep moving.”

This year, about 90 percent of the climbers at Qomolangma are

first-timers. Lack of professional training and experience as well as undetected health issue

s should be mainly blamed for the casualties on the mountain rather than the traffic jam, Ma added. “Some expe

dition companies failed to prepare the climbers for crowded conditions which is really irresponsible.”

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