ation for commercialization of 5G,” the ministry said, adding it will issue commercial 5G licens
es in the near future, a clear sign China will soon officially enter the first year of 5G.
“As always, we welcome domestic and foreign enterprises to actively participate in China’s 5G network construction and effort
to promote application of the technology, and jointly share 5G development opportunities,” the ministry added.
China’s big three telecom carriers are forecast to spend 900 billi
on to 1.5 trillion yuan ($134 billion to $223 billion) in total on 5G network construction from 2020
to 2025, according to a report from the China Academy of Information and Communications Technology. In co
mparison, Chinese telecom operators spent 720 billion yuan on 4G network construction from 2014 to 2018.
the Global Innovation Exchange project in 2017 brought together by M
icrosoft, China’s Tsinghua University and the University of Washington, he said.
Habib said relations with China have also benefited Boeing, another major company in Washington.
“There’s no question that China is the most significant destinati
on for aerospace,” said Habib, as China “has the biggest middle class and it’s growing. Alon
g with that comes a tremendous increase in demand for both passenger travel and freight mobility.”
Habib also applauded China’s interest in Washington’s agricultural products
such as apples and cherries, and specifically mentioned tourists and students from China.
With the current trade disputes between China and the US, however, Habib is seeing some frustration in his state.
anies and fund managers entering the market, and assisting in formulating the Futures Law.
“As prices of bulk commodities fluctuated frequently and shar
ply in recent years, the real economy has a huge demand for risk management,” Lu said, str
essing the importance of accelerating the development of the futures market amid uncertainties.
China stepped up efforts to open up the commodity futures mar
ket last year, making three futures contracts available to f
oreign investors so far, including crude oil, iron ore and purified ter
ephthalic acid (PTA), a raw material for making plastics.
roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.
Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest
ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg
ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.
Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing
hua University, said China “should be more confident” in accelerating opening-up of its financial sec
tor, which will help global investors seize numerous opportunities in the Chinese market.
Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv
ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.
Reportedly, the United States administration is considering extending its attacks on
Chinese companies by blacklisting China’s largest surveillance equipment manufacturer Hikvision.
If so, Hikvision — which has about 20 percent of the global market share and has been the
leading player in the industry for seven consecutive years — will become the fourth Chinese company Wa
shington has targeted after the telecommunications companies ZTE and Huawei, and drone maker DJI.
Unlike the previous three companies, which the US administrat
ion has justified the attacks on with the excuse 2019/05/22/shangjianxiachuicn-3/it is protecting national security, the premise for
setting its sights on Hikvision, which serves customers in more than 150 countries, including the US, is t
onal discussion among the people of
Hong Kong, the city will eventually reach a consensus and any doubts over the issue will be dispelled.
Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Comm
ittee, hoped that all sectors in Hong Kong will work together to safeguard the image of the city’s rule of law.
The SAR government proposed to amend its Fugitive Offenders Ordinance and Mutual Legal Assista
nce in Criminal Matters Ordinance in March. The proposed amendments will allow Hong Kon
g to surrender fugitive offenders to jurisdictions with which it does not currently have extradition arrangements on
a case-by-case basis, with prior approval from the chief executive before an application is submitted to the courts.
Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco
nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa
tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.
To make up for the increasing savings gap, the US needs to introduce and use more foreign ca
pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g
rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.
What is really questionable is that, despite its contempt for over-regulation of the economy, the US administration has been tryi
ng to impose regulations on international trade, even for its trade partners’ domestic economic management.
extreme pressure on the other, it will cause a legitimate counterattack.
“The measures from us are not only to safeguard China’s own rights, b
ut to protect the basic rules of the current multilateral trading mechanism,” Wang said.
Wang made the remark in a joint news conference with his Russian
counterpart Sergei Lavrov during his visit to the Black Sea coastal city of Sochi.
Experts warned that the rising US tariffs on Chinese imports risks a full-blown trade war, which will bring harm to both sides.
Major Wall Street stock indexes declined more than 2 percent on Monday, followi
ng China’s announcement of countermeasures in response to Washington’s latest tariff move.
gion must focus on the key elements of greater integration and high-quality developmen
t to lead the growth of the whole Yangtze River Economic Belt and East China, the statement said.
The meeting called for better awareness of integrated development and putting the region’s growt
h into the perspective of a unified strategy, as well as the development of a modern economic system.
It also required adequate coordination and implementation to ensure the effective implementation of various tasks in the plan.
The delta region, including Shanghai and Jiangsu, Zhejiang and Anhui provinces, is among the areas with the most robust econ
omic growth, the highest level of opening-up and the strongest capacities in innovation in China.
The total GDP of the delta region reached 21 trillion yuan ($3.06 trillion) in 2018, which