Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose mac roeconomic stability risk,” said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings. The world’s second-largest economy maintained its foreign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, although it sli ghtly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange. Li Yang, director of the National Institution for Finance and Development of th e Chinese Academy of Social Sciences, saidRead More →

ood jobs in areas that are poor, where good jobs are needed,” he said. “We should celebrate that advancement of econ omic opportunity in the United States. And similarly, we should expand US investment in China.” US goods exports to China declined by 7 percent in 2018, as trade disputes between the two economies began to bite, but still outpaced growth in exports to the rest of the world over the past decade, ac cording to the 2019 State Export Report released earlier this month by the US-China Business Council. The report said China continued to be important to US economic growth, supporting more thanRead More →

Eight people died after carbon dioxide leaked in a cargo ship at Longyan Port in East China’s Shandong province Saturday afternoon. Local authorities of the city of Rongcheng said the accident hap pened around 4 pm in a Fujian-registered ship. The cause is under investigation. talian soccer wizard Marcello Lippi has returned as head coach of China’s national soccer team. But wi ll the magic come with him? Will he bring what’s needed to take Team China into the 2022 World Cup? The challenge is daunting. The Chinese Football Association’s announcement on Friday provided no details of Li ppi’s contract. But according to Beijing YouthRead More →

importance for economic development and social stability. To better secure the employment of graduates, government at all levels issued policies to redu ce discriminatory practices these new graduates may encounter when hunting for a job. For example, the Ministry of Human Resource and Social Security said in February that employees are not allowed to def ine positions based on gender or to ask for a female job-seekers’ marital status, to protect women’ rights in the job market. Also, the Ministry of Education required colleges to reinforce campus recruitment activ ities, prohibiting discriminatory information concerning gender, nationality and college levels. According to the ministry, the numberRead More →

foreign company not only jeopardizes fairness and justice in world trade, it also poses a tangible threat to the security of 5G networks. As Huawei said in a statement, “If the US restricts Huawei, it will not make the US safer, nor will it make the US stronger. It will only force the US to use inferior and expensive alternative equipment.” Inferior equipment that might be exploited by criminals and terrorists. That the order is politically motivated rather than for security purposes can be seen from the fact that i t is merely the latest in a series of moves by Washington targeting Huawei-one ofRead More →

 China this time. The future of China and Asia is closely related to the Arctic and I’m delighted to see China actively participating i n Arctic-related dialogues and collaborations with a constructive attitude,” said Grimsson, president of the forum. Around 500 ambassadors, scholars and entrEditor’s note: Many Chines e moms tend to get angry when helping their kids do homework. So stressed out are some mom s that one suffered a heart attack and ended up in a hospital last year. Why do Chinese mothers get so tense when it comes to their kids’ education, and what should be done to ease their nerves? WithRead More →

meizi Industrial Co in Guangdong province, said people in lower-tier cities have huge consumption power. In 2016, the company’s oral care brand Saky reached customers in lower-tier cities for the first time. Mor eover, the quality of oral care products in this market varies, so there is huge potential. In addition to traditional sales channels such as supermarkets and stores, Saky was introduced to co nsumers in lower-tier cities by livestreaming hosts on social media platforms. The hosts used en tertaining methods to introduce oral care products and educate consumers about the correct way to use them. “On Kuaishou, the host placed some sesame powderRead More →

Zhonghao Overseas Construction Engineering Co, a Beijing-based private company established in 2001, has been drill ing wells in countries involved in the Belt and Road Initiative, including in Algeria, Ghana, Kenya, Nigeria and Uganda. Tian Chao, president of the company, said those projects have provid ed jobs for local people, solved their water problems and helped balance foreign exchange. “The projects are platforms for more influential good things that we can do for those countries,” he said. The company said it has drilled about 10,000 wells in 275 projects in those countries, with a total c ontract value of $510 million. The wells ensure thatRead More →

 the rest of the world that the Belt and Road Initiative is a helping hand try to help Africa get out of the problems of poor infras tructure. For me, I think it is very important. And African countries should clap hands for this assistance. Improving the infrastructure, which is very key in reducing the cost of doing business in Africa and at the same time creating job opportunities, will help Africa in a few years. What really interests me is that President Xi talks about the fact that the initiative boosts the developments of countries along the Belt and Road Initiative. He talks aboutRead More →

China’s smartphone shipments fell 4.1 percent year on year in March to 26.94 million units, dat a from the China Academy of Information and Communications Technology (CAICT) showed. Last month, smartphones made up 94.9 percent of all mobile phone shipments in the country, ac cording to a report from the CAICT, a research institute under the Ministry of Industry and Information Technology. Despite the mobile phone market shrinking, the drop has been moderated, said the report. Overall mobile phone shipments went down 6 percent in March, narrowing from the 1 .9-percent slump in February to 28.37 million units, among which 95.1 percent were 4G phones.Read More →