With the world econom 上海会所by unilateralism an

d protectionism, China will simplify procedures for both imports and exports and reduce customs clearance times, make full use

 上海会所品茶微信of statistical systems for cross-border e-commerce business and diversify the country’s export destinations.

Li said exports of high value-added mechanical and electrical products have maintained 上海会所

strong growth momentum in the first half of this year, boosted by the country’s ongoing industrial upgrading.

 上海会所品茶微信Year-on-year exports of portable computers rose by 11.4 percent, electronic passenger ca

rs rose by 91.9 percent and solar cells rose by 57.1 percent, according to customs officials, as

Chinese enterprises sought to tap more markets beyond traditional trade hubs such as the United States. 上海会所

Zhang Xiaoyi, vice-president of Guangdong-based Midea Group, one of China’s biggest home appliance manu

 上海会所品茶微信facturers, said the company has seen increasing sales in overseas markets in recent years. Last year, overseas sales rep

resented 43 percent of its total sales, and of these, half of the orders originated in economies involved in the BRI.

Trade with economies involved in the BRI outpaced total trade in the first half of this year, customs officials said, while imp 上海会所

orts from and export to BRI markets reached 4.24 trillion yuan. That represented growth of 9.7 percent year-on-y

 上海会所品茶微信ear, about 5.8 percentage points higher than overall trade growth, accounting for 28.9 of the country’s total trade.

Domestic sales also are on the rise, especially in high-tech products, given China’s industrial upgrades amid rising domestic demand.

Zhou Jialin, deputy general manager of Shengyi Technology Co, the world’s second-largest producer of copper-clad lam 上海会所

inate materials by production volume, said the city of Dongguan, Guangdong province, once was an exp

orter of low-end products. But now, export volume is not the only standard to evaluate a company’s competitiveness. 上海会所品茶微信

“Domestic demand from companies such as Huawei Technologies Co has increased, and a number of foreign com

panies have set up their factories in China to cater to domestic demand instead of exporting overseas,” Zhou said.

shuyin-edu.cn

Already, opposition t上海会所gton-triggered tra

 war is intensifying within the US. For example, the US Chamber of Commerce – one of the country’s most powerful bu

上海会所siness lobbies – has called for the reversal of all tariffs imposed over the past two years.

The effects of the trade war have already spread to cross-border investment

. In recent years, rising Chinese production costs have driven many foreign enterp上海会所女神会所

rises – and, increasingly, even Chinese enterprises – to relocate their operations to lower-cost countries such as

Vietnam and Thailand. The trade war is accelerating this process. According to the Vietnamese government, inward for

上海会所eign direct investment increased by nearly 70 percent year-on-year in the first five months of 2019, the highest such i

ncrease since 2015. Meanwhile, the growth of US investment in China is slowing.上海会所女神会所

Essential to improve investment environment

上海会所The US administration wants American companies to leave China. It is u

p to China to persuade them to stay. That means improving the local investment envi

ronment, including responding to foreign companies’ justifiable complaints – say, by strengthening intellectual p上海会所

roperty rights protection – and, more broadly, better adhering to World Trade Organization rules.

But the pressure on China does not end there. The US is also eager to exclude the count

上海会所女神会所ry’s high-tech companies from global value chains. Trump recently announced that he would allow US co

mpanies to continue to sell to Chinese high-tech giant Huawei, after a months-long campaign against the company. But it r

emains highly unlikely that the US administration – which reversed a similarly aggressive policy toward sm

artphone company ZTE last year – will abandon its efforts to strangle China’s high-tech industries.上海会所女神会所

China has three options. First, it could accede to US pressure to disengage from global value chains. Second, it could remain

committed to integration, hoping that, thanks to existing interconnections, sanctions on Chinese high-tech com上海会所

panies will also hurt their US counterparts (such as Qualcomm) enough for the US administration to back d

上海会所女神会所own. The third option is to focus on supporting domestic high-tech companies’ effo

rts to strengthen their own positions within global value chains and develop contingency plans.

www.ashchc.com

Located at the apex of th上海会所dong-Hong Kong-Maca

o Greater Bay Area, which aims to be a world-class technological hub, SSGKC will play a key role in cr

上海会所eating an innovation platform for the coordinated development of the cities in the region. Officials said it can be smoothly con

nected with the business environments of Hong Kong and Macao and promote multilateral economic collaborations.上海会所品茶微信

Of particular interest, the local government said it aims to build a data exchange center and a technological innovation park for the greater bay area.

As the country’s only pilot zone for intellectual property applications and protection, SSGKC will provide compr

ehensive services to protect the achievements of companies and facilitate their patent applications. Meanwhile, it pla上海会所

ns to build an International IP Exchange Center for the Belt and Road Initiative, the local government said.

“One of the main reasons that overseas resources and companies are choosing to cooperate with the knowledge city or settle do上海会所品茶微信

wn here is that SSGKC is relentless in its efforts to be as good as its global counterparts in terms of IP pr

上海会所otection,” said Yu Long, president of Sino-Singapore International Joint Research Institute.

More than 80 IP-related organizations and institutes are located in SSGKC, including the IP

Court of Guangzhou, one of the patent examination centers of the China National Intellectual Property Ad上海会所品茶微信

ministration and the first overseas representative office of the Intellectual Property Office of Singapore.

上海会所Li Lietao, co-founder and board chairman of Lion TCR Pte, a renowned clinical-stage biotechnolo

gy company in Asia, said his decision to move the company from Singapore to SSGKC two years ago has been proven wise.

He said he was attracted by the familiar planning of SSGKC, which, in上海会所品茶微信

itially based on the planning idea of Liu Thai-Ker, former master planner of Singapore, has be

en developed into a naturally harmonious community on the 123-square-kilometer plot.

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China and Turke上海会所品茶微信y maintain multilatera

strong and popu上海会所品茶微信lar enough and able to connect with European citizens

who showed the highest turnout in 20 years in the elections for the European Parliament in late May.上海会所

“They should be able to work in an efficient manner with world leaders and be strong enough to galvani

ze worldwide support. We live in a very challenging world, and Europe needs strong and effective leadership,” Islam said.上海会所品茶微信

There have been major disagreements between leaders of the two major member states. German Chancellor Angela Merkel favors the process of lead candi

date, known as Spitzenkandidaten in German. She supported Manfred Weber, the lead candidate of the center-ri上海会所

ght EPP, the largest bloc in the European Parliament, a bloc of which Merkel is a member.

But French President Emmanuel Macron and some other EU leaders oppose Weber to replace Jean-Claude Juncker as president of European Commission.

Their attitude was in stark contrast to how similar, large protests have been handled in their own countries, the office said.上海会所品茶微信

Legislative Council President Andrew Leung Kwan-yuen said many people from Hong Kong were saddened by the scenes of violence.

上海会所Leung, after inspecting the aftermath of the vandalism, said the council will cancel its remain

ing meetings before its summer recess in mid-July because of the time needed to repair the extensive damage.

The damage may cost taxpayers HK$50 million to HK$60 million ($6.4 million to $7.7 million) to re

上海会所品茶微信pair, according to estimates of the council’s Finance Committee chairman, Chan Kin-por.

In the wake of the violence, barrister and lawmaker Martin Liao Cheung-kong, together with some、

20 lawmakers, accused the opposition camp of ignoring the acts of the violent protesters and blaming the SAR government instead.

Maggie Chan Man-ki, a Hong Kong deputy to the National People’s Congress, accused the上海会所品茶微信

opposition of continuing to condone and encourage the violent behavior, which sends the wrong message to society.

Richard Cullen, an Australian visiting law professor at the University of Hong Kong, said: “This sort

of behavior leaves a stain on Hong Kong’s rule-of-law reputation. It is plainly not compatible with the rule of law.”

Meeting with the media in the early hours of Tuesday, Chief Executive of

the Hong Kong SAR Carrie Lam Cheng Yuet-ngor strongly condemned the extreme use of violence and vandalism

exstorm.org

On the other hand,上海会所he past, the Fed now has t

to take the delayed effect of balance sheet reduction conducted earlier into its consideration of rate cuts. The current phase-out of balanc

上海会所e sheet reduction already has some easing effect, and only after the balance sheet reduction ends in September, can its impact become clearer.

By incorporating that impact into consideration, the Fed can draw up a better rate cut plan that maximizes effects of the policy mix.上海会所

Thirdly, the market may have overestimated how much the Fed will cut the rates. There may be no more than three rate cuts by the end of 2020.

St. Louis Fed President James Bullard – the major advocate of this

round of rate cut – has suggested the use of the modern-day Taylor rule, which fairly well explains th上海会所

e Fed’s interest rate decisions. Even based on this model adopted by dovish Fed officials, we found that the degree of rate cuts may be weaker than m

上海会所arket expectation for quite some time going forward: at most one cut by the end of this year and likely two or three cuts by the end of 2020.

By contrast, before the June FOMC meeting, the market expected a higher-than-85-percent chance of more than one rate cut by the

end of this year as well as an about 60-percent chance of more than three cuts by the end of 2020, according to Bloomberg data.上海会所品茶微信

In conclusion, we think as economic downside pressure gradually emerges, the Fed will have to kick off the rate cut cycle. But the rate cut si上海会所品茶微信

gnal, timing and degree may not measure up to the market expectation. Therefore, two future developments appear possible:

First, investor sentiment can reverse drastically if the Fed’s action fails to meet market expec上海会所品茶微信

tation. Considering the market has fully priced in the unrealistic expectation of rate cuts sinc

e early June, any reversal of expectation can lead to short-term fluctuations of key price signals such as the US Treasury yield cu

rve, the US Dollar Index, and the gold price, which may pose extensive spillover shocks to asset portfolios.

Second, the long-term trend of rate cuts will continue even if the market expectation reverses. In the long

run, the Fed is expected to proceed with rate cuts in a fairly slow and smooth way. This will enlarge the monetary policy room of ot

her major economies and expedite the shift toward an easing global monetary environment, which may in turn lift the sen

timent of global stock markets and ease any currency risk of emerging markets gradually.

Cheng Shi is the managing director, head of research and chief economist of ICBC Interna

tional Holdings Ltd.Qian Zhijun is a senior economist of ICBC International Holdings Ltd.

chitudoudemao.cn

China will channel 上海会所品茶微信s from the Belt and

d Road Initiati上海会所品茶微信ve to Africa, he said, adding that both partners should respect market pri

nciples and ensure economic and social benefits to improve the continent’s capacity for sustainable development.

Wang said more than 880 cooperation projects will be carried out in the next three years.

In a news conference on Tuesday afternoon, Vice-Minister of Com

merce Qian Keming said that in their next step, China and Africa will carry out capacity-buil

ding cooperation and promote infrastructure, trade and investment cooperation. China will increase imports fro

m Africa to ensure the continent shares in the huge Chinese market, he added.

Ugandan President Yoweri Museveni said the eight major initiatives have helped address the de

velopment challenges facing African countries and will help guide their cooperation in the right direction.

9319144org.cn

Analysts attending the symposium said more efforts ar

 needed to tight上海会所品茶微信en export controls and establish a review mechanism that keeps track of whole processes of rare earth exports.

China, the world’s largest producer of rare earths, currently produces around 80 percent of the world’s supply of the metals.

The NDRC said in late May that China is willing to continue supplying rare

earth metals to global markets, but is opposed to those who use products made with Chi

nese rare earths to “suppress and dampen China’s development”.The 19th National Congress of the Communist Party

of China in October 2017 advocated that China would be developed into a modern socialist country that is prosp

erous, strong, culturally advanced, harmonious and beautiful by the middle of this century. But some in the United States c

onsider China’s resolve to develop itself into a prosperous and strong country as a matter of concern.

kaimenjidashijie.cn

inopec establish joint venture with Russian companie

hina Petrole上海会所品茶微信um and Chemical Corp, the world’s larg

est refiner by volume, has agreed to establish a joint venture with Russia’s Novatek and Gazp

rombank to market natural and liquefied natural gas (LNG) in China, Sinopec said on Thursday.

The agreement, which aims to sell LNG produced by Novatek in the Arctic, was signed fo

llowing talks in Moscow between Russian President, Vladimir Putin, and Chinese President, Xi Jinping.

The agreement will be of considerable economic and social benefit an

d will further diversify China’s natural gas imports, while meeting ever-increasing ga

s demand in the country, said Dai Houliang, China Petrochemical Corp president.

www.aaart.org.cn

mier Li Keqiang presides over a State Council meeting on

上海会所品茶微信Premier Li Keqiang called for greater strides in reform and opening-up to stimulate market vitality and to tra

nsform and upgrade economic structure in revitalizing the rust belt in Northeast China.

Li’s remarks came as he presided over a State Council meeti

ng on Thursday on revitalizing the country’s traditional industrial bases.

He underscored the importance of transforming government functions a

nd bettering the business environment, and urged government departments to offer m

ore support to provinces in the Northeast in streamlining administration.

The tax cuts and fee reduction policies must be implemented in full, and the country w

ill make the region a priority in special transfer payments to localities, he said.

The reform of State-owned enterprises must be moved forwa

rd, and more work must be done to expand the private sector, he said.

changjiangjiaoxiang.cn

While many people doubt whether Mo could top the s

success of winning the Nobel Prize in Literature in 2012, Zhang Qinghua, professor at Beijing Normal University, believes that Mo’s way of dealing with this h

as been to make a return to his hometown, a village in Gaomi, Shandong province, both in reality and spiritually.

Mo didn’t publish any new work in the five years following the award, when in 2017 he

released several short stories, poems and theater works, mainly reminiscing about his hometown.

Unlike Mo’s former novels, Peking University professor Chen Xiaoming notes th

at his new works are more reserved, realistic stylistically and employ more simple language. Literary cri

tic Li Jingze is impressed that Mo has remained acutely sensitive to the realities of urban and rural life.

www.qianpadbe.com