Amazon to end local 3rd-party sales in Chinaon offices in Ne

US-based tech giant Amazon.com Inc plans to shut down its third-party seller services on its Chinese online marketplace

in July, as it shifts its focus to offering Chinese mainland consumers overseas products rather than goods from local sellers.

Starting July 18, customers logging in to Amazon’s Chinese web portal will only see a selec

tion of goods from its global store, rather than products from local third-party sellers.

Amazon said it will keep running its other businesses in China, inclu

ding the cross-border shopping business Amazon Global Store; Global Selling, which helps Chin

ese merchants sell products abroad; its cloud service platform Amazon Web Services; and Kindle e-book devices and content.

“Over the past few years, we have been evolving our China online retail business to increasingly

emphasize cross-border sales, and in return we’ve seen a very strong response from Chinese customers.

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Lu made the remarks in response to recent media repo

 reports that India decided not to send a delegation to the second Belt and Road Forum for Internati

onal Cooperation later this month in Beijing. The reports said the initiative undermines the South Asia

n nation’s sovereignty via the BRI-related China-Pakistan Economic Corridor.

Lu said that, “If this decision about whether to participate in building the Belt and Road

was possibly made through a misunderstanding”, China firmly and sincerely advances the constr

uction of the Belt and Road on the basis of consultation and contribution for shared benefits.

He added that the initiative is open to all parties that are inter

ested in and willing to join in win-win cooperation.

It will not exclude any party, he said, adding that China is willin

g to wait if relevant parties need more time to consider their participation.

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Indeed, Premier Li Keqiang, who led China’s negotiati

tions at the Brussels summit, has pledged to intensify discussions on the rules concerning in

dustrial subsidies, a priority for the WTO reform for the EU. This is being seen as a breakthrough by the EU side.

In fact, almost all countries provide subsidies for domestic companies in certain sectors, and i

n most cases, China has given subsidies to Chinese companies in strict accordance with WTO rules as its ultim

ate goal is to achieve complete marketization. Yet intensifying discussions on industrial subsidies and other

sensitive issues, including intellectual property rights protection, is a step that must be taken to not only addre

ss WTO members’ concerns, but also invigorate the organization and the global trading system.

China, US should jointly promote WTO reform

Chen Fengying, a senior researcher in world economy at the China Institutes of Contemporary International Relations

The Office of the United States Trade Representative seems to have made dr

iving the WTO reform its priority so that Washington can claim the discourse rights in global t

rade mechanisms and lead the process for making new trade rules and establishing a new global trading system.

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hina to ease permanent residency requirements in lar

China said Monday it will ease the requirements for permanent residency in many large cities as part of its new urbanization push.

Restrictions on permanent residence permits should be scrapped in cities with populatio

ns between 1 million and 3 million, according to a document outlining key urbanization tasks this year release

d by the National Development and Reform Commission, the country’s top economic planner.

For cities with populations of 3 million to 5 million, the qualifications for such permits should be “fully relaxed,” and the restrictions

for certain key groups of people to get such permits should be removed, the document said.

Previously, the country has already gradually abolished permanent residency restrictions in

small and medium-sized cities and towns with populations below 1 million.

The NDRC document also demanded cities with populations above 5

million to improve their policies and drastically expand the scale of permanent residency.

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Elwell defended the agency’s reliance on experts from ma

anufacturers and said the current system had produced an unprecedented safety record i

n the US. He said the FAA was “fully involved” in the certification of the Boeing 737 Max 8, including “133 of the 297 flight tests”.

Senator Richard Blumenthal questioned the FAA’s oversight of the Boeing 737 Max jet, argu

ing that reliance on the manufacturer put “the fox in charge of the henhouse”.

Blumenthal said Boeing rushed to get the 737 Max in the air to compete with Europe’s Airbus and disregarded critical safety features.

“There needs to be rigorous reform so the FAA is put back in charge of safety,” he said. “The

fact is that the FAA decided to do safety on the cheap, which is neither safe nor cheap,” he said.

Senator Jerry Moran asked what it would take for the FAA on its own to certify airc

raft. Elwell said: “Ten thousand additional FAA employees and $1.8 billion” per year.

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Retail sales of local government bonds attract eager

Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we

re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.

On Monday, individuals in China were able to purchase bonds issued by t

he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N

ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc

ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.

The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu

ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno

wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.

guapogang.cn

While May was addressing her lawmakers, MPs in the mai

n chamber debated eight other Brexit options, ranging from leaving abruptly with no deal to revoking the divorce altogether.

While there was no majority support for any, the option calling for a referendum on any depa

rture deal, and another suggesting a UK-wide customs union with the EU, won more votes than May’s deal did two weeks ago.

Oliver Letwin, a Conservative former cabinet minister who led parliament’s unusual power grab, said it ha

d been expected that none would immediately win a majority, and lawmakers would have another chance on Monday.

The uncertainty around Britain’s most significant political and economic change since W

orld War II has left allies and investors aghast. Sterling dipped after Wednesday’s events.

If May’s deal were to pass, her office said there would be a contest to replace her after May 22, when Britain would leave the EU.

www.qiancengdian.cn

The welder spent another three hours on Friday morning but

had to quit again as he had to pick up his son from primary school at noon. He joined the line again

after lunch, but he didn’t have any idea about when his turn will come when

China Daily interviewed him at 4:30 pm.

There were so many donators that the organizers brought dozens of stools to

the site so that people could rest after waiting a long time.

Many people also came to Xiangshui

People’s Hospital to offer free food and medicine fo

r those hospitalized. Chen Yueru, a member of local volunteer association, said they have received 2,177 boxes of packed

food for lunch, more than 10,000 bottles of water, 24 boxes of ham sausage and 14

boxes of instant noodle and 500 breads at the hospital.

She said clothes are in demand for many of the injured as the belongings of many

have been buried in debris and stained with blood and dirt.

Gao, the red society volunteer, said a company has donated about 600 bottles of a s

pecial medicine for wound sterilization and has also sent medicine for the injured.

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In the Government Work Report, Li said that the govern

ment’s moves to cut taxes on this occasion aim at an accommo

dative effect to strengthen the basis for sustained growth while also considering the need to ens

ure fiscal sustainability. It is also a major measure to lighten the burden on businesses and boost market dynamism.

Participants at Wednesday’s meeting also decided on adjustments to the export tax rebate rates of certain goods and services and

to the tax deduction rate of purchases of farm produce. They decided to increase transfer payments to local gov

ernments, focusing on supporting the central and western regions and counties and prefectures experiencing difficulties.

“The share that goes to enterprises in the national income distribution ne

eds to be increased to boost market vitality. This will

help keep employment stable, expand tax sources and make public finance sustainable.” Li said.

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My sincere and heartfelt thanks to my respected elde

  brother, Mukesh, and Nita, for standing by me during these trying times, and de

monstrating the importance of staying true to our strong family values by extending this timely support,” he said.

  Shares in Reliance Communications spiked 10% in Mumbai on Tuesday.

  A spokesperson for Mukesh Ambani’s company declined to comment on how much of

the 5.5 billion rupees he provided, but local media reported it was around 4.8 billion ($70 million).

  A spokesperson for Reliance Communications didn’t immediately respond to a request for comment.

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