The reform and opening-up policies are exactly the ki

inds of market-driven reforms needed to make this happen. The Chinese government is investing heavily in resear

ch and development, but it should be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

Nobody likes competition against themselves. So, it must be admitted that China’s transition to a high-tech, high-

value-added economy will come as a shock to many companies around the world. The US economy, which has about 7

percent of GDP in high-tech manufacturing, will be lightly affected by this change.

On the other hand, advanced manufacturing contributes around 20 percent of GDP in Sout

h Korea, Japan, Germany and a few smaller European countries. They will be much more directly affected.

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Local media showed through YouTube image

 of opposition leader Juan Guaido outside the aviation military base La Carlota, located in Altamira in the east of Caracas.

He called on civilians and military to act against the government and urged Maduro to step down.

Venezuela’s Communication and Information Minister Jorge Rodriguez said on Tues

day that the government is deactivating a small group of soldiers who attempted a coup d’etat.

“At the moment we are facing and deactivating a small group of traitor military

personnel who positioned themselves in the Altamira to attempt a coup d’etat,” Rodriguez said.

“The FANB (National Bolivarian Armed Forces) stand firm in defense of the National C

onstitution and its legitimate authorities,” said Defense Minister Vladimir Padrino Lopez in his Twitter account.

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hina’s energy consumption hits five-year record

Growth in China’s energy consumption remains robust while the forms

of energy continued to diversify in 2018, according to an annual report on China’s energy devel

opment released Sunday by the China Electric Power Planning and Engineering Institute.

Total energy consumed last year reached 4.64 billion metric tons o

f standard coal, a year-on-year growth of 3.3 percent – a five-year record, according to the report.

Consumption of clean energy, including natural gas, hydropowe

r, nuclear power and wind power, accounted for 22.1 perc

ent of energy consumption last year, up 1.3 percent compared with the same period in 2017.

Non-fossil energy accounted for 14.3 percent, up 0.5 percentage points year-on-year, the report said.

China produced 3.77 billion tons of standard coal last year, up 5 percent year-on-year, a seve

n-year high. It has also become the world’s largest natural gas importer, with a heavier reliance on energy imports.

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Leveraging private funds prioritized in BRI projects

China’s financial minister and central bank governor vowed to strengthe

n debt management and leverage more private funds for infrastructure construction un

der the Belt and Road Initiative, suggesting a new framework to assess debt risks for partner countries on Thursday.

The Ministry of Finance published a debt-sustainability analysis framework for the BRI’s participating economies at the start of t

he Second Belt and Road Forum for International Cooperation, a three-day event in Beijing.

Financial institutions of China and other BRI economies are encouraged to use the “nonmandatory” policy t

ool for rating debt risk before making lending decisions. The analysis method is based on in

ternational standards provided by the International Monetary Fund and World Bank, according to the ministry.

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The reception followed a meeting of Russian and DPRK

delegations, which was preceded by a one-on-one meeting between Putin and Kim.

Kim arrived here in his train on Wednesday for his first meeting with Putin.

The meeting came at a time when tensions were growing between the DPRK and t

he United States.At the end of 2018, Australia became another “surveillance state” with the passing of the T

elecommunications and Other Legislation Amendment Bill or the Assistance and Access Bill 2018.

Last week, the DPRK test-fired a new tactical guided weapon and requested Washi

ngton to exclude U.S. Secretary of State Mike Pompeo from future negotiations.

In response, Pompeo swept aside Pyongyang’s demand ab

out replacing him by someone “more careful and mature” to deal with the talks.

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As President Xi has said, the initiative originated from

China, but it belongs to the world. China has put forward the idea of boosting global development vi

a infrastructure connectivity, and is working zealously to translate it into reality. This is based on wha

t the country learned from its own rags-to-riches story, its own experience of the benefits of free trade and inte

rnational cooperation, and on its understanding of the role a responsible major country must play.

The forum’s growing list of distinguished guests is credible testimo

ny that more and more countries appreciate the initiative‘s win-win nature and long-term pote

ntial. With 126 countries and 29 international organizations signing cooperation agreements with China und

er the Belt and Road framework, and the Asian Infrastructure Investment Bank now boasting 97 members, it is m

ore appropriate to call the initiative a global development mechanism than a Chinese one.

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The economy has stayed on the track of steady gro

owth. We have the confidence, conditions and capability to mee

t the projected targets for economic and social deve

lopment this year,” Yuan told an NDRC news conference on Thursday in Beijing.

Data from the National Bureau of Statistics showed China’s economy grew at a faster-than-e

xpected 6.4 percent year-on-year in the first quarter, remaining at the to

p end of the government’s projected growth range of 6 to 6.5 percent for this year.

The growth was unchanged from that in the fourth quarter of 2018.

Zhang Chenghui, former director at the finan

cial research institute of Development Research Center of the State Cou

ncil, said despite the downward growth pressure, China will see many positive factors in the economy this year.

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The school established an AI research institute in Decem

ber 2017 for graduate students. Many instructors at the school are working on AI-related res

earch so there will be no problem finding capable teachers for the new students, Lin said.

China’s booming AI industry has resulted in a growing demand for tal

ent. It is common for students in AI-related fields to have

already committed to companies before they even graduate and enter the job market, he said.

Master’s graduates majoring in AI can easily find jobs with salaries over 300,000 y

uan ($44,700) per year, and salaries for doctoral graduates are even higher, he said.

Chinese universities are catching up with their counterparts in the United

States in terms of basic research in AI and the numbe

r of published papers, yet they still lag behind in transforming research into application, he added.

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Tu Liangcheng, one of the leading scientists of the Tia

nqin project, said that the project has been going smoothly.

“So far nearly 200 Chinese scientists from more than 30 dome

stic research institutions and universities and about 30 researchers from at l

east eight other countries-including Russia, Italy, Germany and France-have participated in the pr

oject,” said Tu, who is also director of the gravitation center at the Wuhan university.

Shen Zhiqiang, head of the Chinese Academy of Sciences’ Shanghai Astronomical Observatory, and a membe

r of the EHT team, said the success of the first black hole image has encouraged Chinese scientists to engage in mo

re international collaboration and boost the country’s ability in studying deep space.

Chinese scientists participated in Hawaii and Spain in the observations

that yielded the black hole image. They were highly involved in follow-up data analysis and th

eoretical explanation throughout the two years that followed the five-day observations in April 2017.

cn-yongan.com

EU gives PM May ‘flexible’ Brexit recess to Oct 31

European Union leaders gave Theresa May a new Brexit deadline of Oct 31, four months longer than the p

rime minister asked for, in a move the EU summit chair said would let Britain resolve its domestic deadlock on the issue.

“EU27/UK have agreed a flexible extension until 31 October,” European Council Pres

ident Donald Tusk tweeted after eight hours of talks that went into the early hours of Thursday.

“This means (an) additional six months for the UK to find the best

possible solution,” Tusk added on the eve of what would otherwise have been the day Britain

crashed out of the bloc with no deal to smooth the departure for businesses and citizens.

Britain, he stressed, could still leave earlier if May secures parlia

mentary backing for her Brexit treaty, or it could amend what it wants from a future trade pact. “Until t

he end of this period, the UK will also have the possibility to… cancel Brexit altogether,” Tusk added.

The agreement gives May more than the three months to June 30 that she asked for to bui

ld a parliamentary majority behind the withdrawal treaty she negotiated with the EU last year.

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