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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The bond pricing mechanism will be further improv

Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds

at commercial bank counters to individual buyers between March 22 and early April.

The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b

onds issued by the central government as well as bank deposits with the same maturity.

Gross local bond issuances hit 1.18 trillion yuan in the first qua

rter, compared with only 219.5 billion yuan in the same period last year.

The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.

“About 60 percent of the bonds were issued for ongoing construction, especially

for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.

While debt financing continues to grow, the government is experiencing sharp declin

es in fiscal revenue growth, especially from tax and land sales, official data showed.

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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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Underscoring the increasingly important role of railw

way in social and economic development, leaders from China and the CEECs voiced support fo

r moving forward practical cooperation in the development of the China-Eur

ope Land Sea Express Line and making use of European Union (EU)-Chin

a Connectivity Platform to promote development of intermodal freight transportation.

Taking note of the Three Seas Initiative, the participants to the leaders’ meeting expressed their welcome to port cooperat

ion between China and the CEECs, including the opportunities deriving from inland waterways and the interm

odal connections to further enhance the cargo transportation between Asia and Europe.

Leaders from China and the CEECs also expressed their willingness to explo

re the possibilities of establishing a China-CEEC Customs Information Center in Hungary and

their support for the holding of the 5th China-CEEC Transport Ministers’ Meeting in 2020 in Croatia.

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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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They are both staunch supporters of free trade and mul

ultilateralism, and with the United States increasingly opting for unilateralism in international affairs, China and the EU can str

engthen their coordination within the framework of the United Nations and buttress the role of multilateral mecha

nisms including the World Trade Organization and the International Monetary Fund.

Beijing and Brussels are also two important voices advocating internati

onal efforts to combat climate change and promote sustainable development.

It is hoped that the leaders attending the China-EU Summit in Brussels will send positive signals that the two sides are commi

tted to deepening their strategic and reciprocal cooperation. By strengthening their consensus and solida

rity, they can boost confidence that they will work together to address shared and global challenges.

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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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Flight systems, however, typically are built with a

 backup system so there can be no single point of failure. Since the crashes of Max jets in Indonesi

a in October and Ethiopia last month, Boeing has modified design of the anti-stall device to include two sensors on all aircraft.

The FAA allows airlines to make minor modifications in previously certified

aircraft to meet their operational needs, a rule Boeing followed in building the 737 Max for

foreign carriers. Ethiopian Airlines and Indonesia’s Lion Air — involved in fatal crashes five months apart — repo

rtedly declined to buy two add-on safety devices that might have helped the pilots keep the doomed planes in the sky.

Neither airline purchased the “angle of attack” system display for readi

ngs of two sensors rather than one and a “disagree light” to be activated if the sensors prod

uce conflicting readings. The Lion Air crash in October killed 189 passengers and crew.

Airlines around the world, including China and the US, have flown the 737 Max, introduced in 2018, without incident.

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Wudang Mountain attracts foreign martial arts ap

About 20 Chinese martial arts schools in the Wudang Mountain region have tra

ined about 30,000 kung fu enthusiasts from around the world.

Yuan Xiugang, a member of the Wudang Martial Arts Association, has taugh

t over 60 foreign students since 1995. One of his apprentices, Jack, a 29-year-old from Ill

inois in the US, first arrived in Wudang 10 years ago. Now Jack has become a kung fu coach.

“My goal is to open a school in the US, letting more Americans appreciate authentic Chinese martial arts,” he said.

Thomas, another of Yuan’s students, is from France and explores tea culture. He leases about

two acres of a tea garden at Wudang Mountain. After mastering the technique of processing tea leaves, Th

omas decided to sell his products to European countries, like France and Austria.

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Meanwhile, automakers’ recommended retail priwas

 on a decreasing streak. Imported models of Ford Motor (China) abated as much as 34,000 yuan, compared with Volkswagen Multivan’s highest cut of

13,300 yuan and some models of FAW Toyota’s 11,000 yuan, said Chinanews. As China International Capital Corporation Lim

ited analyzed, automobile, real estate and medicine industries will enjoy the largest scale of tax reduction; and the bigge

st rise in net profit as a result of tax cuts will go to coal, food and beverage, electricity industries.

Nur Bekri, former head of the National Energy Administration, has been arrested

for taking bribes, said the Supreme People’s Procuratorate on Tuesday, Xinhua reported.

Nur Bekri, also former deputy head of the National Development and

Reform Commission, was investigated by the Communist Party of China Central Com

mission for Discipline Inspection and the National Supervisory Commission.

The former chairman of the Xinjiang regional governm

ent was named new head of the National Energy Administration on Dec 31, 2014.

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