The speed of China’s development has rarely occurred in economic h istory, with the country’s economic aggregate breaking 90 trillion yuan over the last 70 yea rs for China to become the world’s second-largest economy in 2018, said financial news outlet Yicai on Friday. In 1952 China’s GDP was 67.9 billion yuan, with per-capita GDP standing at 119 yuan. In 2018 the two figures surpassed 90 trillion yuan and 64,644 yuan, making for respective multiplications of 1,325 and 542 times. The first Five-Year Plan (1953-1957) began China’s industrialization, concentrating efforts on developing heav y industry and establishing the foundations for the modernization of national defense.Read More →

nize th上海楼品茶微信凤e tech world in the near future as it will be able to transmit data at least 10 times faster than 4G technology. In the 5G era, higher reliability and lower latency can be realized, making the internet of things more effective and enabling tasks that are impossible in the 4G era, such as overseeing self-driving vehicles. Telecom equipment maker Huawei Technologies Co said in a state ment on Thursday that it is ready to help China accelerate commercial use of 5G. Huawei’s global pioneering capabilities offering 5G solutions can support Chinese telecom carriers to build a sound n etwork. China will lead theRead More →

led by Asia and Pacific Department Deputy Director Kenneth Kang, summarized that “China can play an impor tant role and would benefit from further opening up and other structural reforms that enhance competition.” The previously issued policy is sufficient to stabilize growth by 2020, despite the rec ent US tariff hike, according to the fund’s report. “No additional policy easing is ne eded, provided there are no further increases in tariffs or a significant slowdown in growth.” Only if the trade tensions further escalate and threaten economic and financial stability, a dditional policy easing, such as fiscal expansion, could be used to stabilize the economy,Read More →

Students from a Macao primary school hailed President Xi Jinping’s reply letter delivered to them before International Chil dren’s Day, and they pledged to live up to Xi’s expectations by passing on the traditions of loving Macao and the country. In the library of the Hou Kong Premier School Affiliated to Hou Kong Middle School in Macao, students clapped after hearing Xi’s letter. Hou Kong Middle School, established in 1932, was the first to raise a national flag in Macao on Oct 1, 1949. “I am so excited to receive a reply,” said fifth-grader Dang Wingzi, one of the stude nts who wrote the initialRead More →

cels by mistake. If they did, they will be held responsible for contract infringement,” sai d Yin Shaocheng, an associate professor of law at Capital University of Economics and Business. Huawei was among the Chinese tech companies recently entered on to the US’ Entity List which bans US companies from selling components and software to them. Vice-Minister of Commerce Wang Shouwen said there is no need to over-interpret the cas e, since “foreign companies will be investigated when possible violations occur in accordance with Ch inese laws”. Wang said China always protects the legitimate interests of foreign investors. The strength of China’s economy is propellingRead More →

fruitful bilateral ties over the past 45 years, as well as the deepened friendship between the two peoples. Malaysia looks forward to sustained prosperity and development of the countries’ relations to benefit the two peoples, he said. Premier Li Keqiang and Malaysian Prime Minister Mahathir Mohamad also exchanged con gratulations on the Friday anniversary. They vowed to expand practical cooperation.Beijing opened its first bicycle-only road at 7 am Friday morning, and our reporter Cao Zinan became one of the first cyclists to try it out. Follow Cao in this video, and get a glimpse of the 6.5-kilometer-long bikeway in northern Beijing. nqlbn.cnRead More →

Three officials in Wuxi, East China’s Jiangsu province, have been gi ven Party and administrative punishments on Thursday over an inappropriate question about whether kindergarten children were involved in gangs, the local government said on its official Wechat account. According to the government of Wuxi’s Xishan district, Feng Dongyan, director and Party chief of the Xishan Education Bureau, has been given the punishment of warning within the Party. Wang Zhaoyu, director of the educational bureau’s general office, has been given a serious warni ng within the Party and removed from office. Lu Zhongxian, director of the bureau’s educational equi pment and student aid management center,Read More →

lear that if the US treats the Chinese negotiating team with respect and shows the willingness to talk wit hout using outside pressure, there is a high possibility that there could be a productive trade deal. “Otherwise, I think we might be facing a prolonged period of problems for both sides,” she said. Regan, at the close of their 15-minute talk, said again, “No one wan ts trade wars. But we have to think long hard about the right next steps.” Liu, however, did counter an assertion by Regan that China’s government controls its entire economy. “Everybody thinks that China’s economy is state-owned, state-controlled, everyRead More →

dollar dropped more than 3 percent under market pressure as global investors worried about the escalation of trade friction. Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monda y that higher US tariffs on China’s imports triggered financial market volatility, and this also affected the offshore RMB. The currency’s depreciation was purely caused by market forces, a d China has never taken any measures to deliberately devalue the currency to make its exports more attractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission. According to Guo, the short-term fluctuation of the RMBRead More →

rough” and exceeded $100 billion in 2018, and the two permanent members of the United Na tions Security Council have been coordinating closely on major international issues, Ruan said. This year marks the 70th anniversary of the establishment of bilateral ties, which are said to have reached their best level in history. Also, the attendance of the two countries’ leaders at each other’s intern ational forums shows both sides’ support for an open global economy, Ruan added. Addressing the plenary session of the Fourth Eastern Economic Foru m in Vladivostok, Russia, in September, Xi called for regional members to actively alig n their development strategiesRead More →