China will further open the financial market to welcom

e more overseas investors in. The cross-border trade and investment will be more free and convenient, said Pan.

He called China’s economy stable, as the major economic indicators were within a reasonable range.

In April, the National Bureau of Statistics said the purchasing ma

nagers’ index for the manufacturing sector stood at 50.1, indicating expansion as the reading was above 50.

The broad money supply, or M2, increased 8.5 percent year-on-year by the end of April, compared with 8.3 percent a year earlier.

“The prudential monetary policy was focused on countercyclical adjustments this year, maintaining flexibility as well as

ample liquidity to promote fast growth of credit and strengthened support of private and small enterprises,” Pan added.

hebeishengxin.cn

The latest figures from the National Cultural Heritage Administ

stration show China had 5,354 museums by the end of 2018, and museums across the country held some 2

6,000 exhibitions in 2018 and received 1.126 billion people, an increase of 30 percent and 16 percent, respectively.

The International Council of Museums organized the annual I

nternational Museum Day in 1977 to address the changing roles of museums.

Museums across the world are reinventing their roles to become more interacti

ve, audience focused and active in delivering creativity and knowledge to their communities.School students and adult

visitors learn about making prints and carving stamp seals and learn about the appreciation of and technological me

thods being used in the conservation of the age-old buildings at the Palace Museum, May 1

xujiaqing.net.cn

Liu’s article was published in Qiushi Journal, a flagship m

magazine of the Communist Party of China Central Committee. He said more efforts a

re needed to implement the proactive fiscal policy and boost efficiency this year.

Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.

Innovative financial tools will be introduced for debt swaps, and the indebted comp

anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea

d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.

“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this

round of debt swaps will not involve the government’s administrative orders, but depends on the ma

rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.

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Wang said the Sino-US trade talks have made important

and substantive progress thanks to efforts from both sides. Meanwhile the talks face some serious problems which need to be resolved.

The top diplomat said that as long as the negotiations meet the general direction of China’s reform an

d opening-up policy, adhere to China’s basic needs about high-quality development and serve the com

mon interests of the Chinese and US people, the negotiator teams from both sides could have the capability and w

isdom to settle their reasonable demands and eventually achieve a win-win agreement.

Wang said China insists on upholding national sovereignty, safeguarding the inter

ests of its people and defending national honor when negotiating with any country.

According to the General Administration of Customs, trade between

China and the US in the first four months stood at 1.1 trillion yuan ($160 billion).

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producers or US-based designers. For example, China ma

akes less than $9 from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.

It’s a good thing that China is no longer a low-wage country. Most Chinese are much better off than they were even 10 ye

ars ago. But it does mean that these low-skilled, labor-intensive industries will be moving to less-developed nations. US t

ariffs on such products will only serve to hasten the transition to higher value-added industries that China has to make anyway.

Roughly 20 years ago, when China’s admission to the World Trade Organiz

ation was being negotiated, China’s economy was tiny as a portion of world GDP. It was clearly a poor, less-deve

loped country that, except in a few areas, was not able to compete with Western companies in high-value-added products.

As Alexander Hamilton, the first US Treasury secretary, argued, a dev

eloping country may need to protect its “infant industries” from already established foreign

aishedesaf.com

Govt should accelerate tax cuts to invigorate economy, pre

Premier Li Keqiang urged government departments to speed up the implement

ation of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturing, constructio

n and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measures in t

he past months, after the measures were introduced by Li in the Government Work Report in March. Th

ey also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision

made by the Communist Party of China Central Committee and the State Council. It has boosted

www.cnair-bag.com.cn

anqing and Zhangjiakou are preparing another venues, in

including existing ski resorts and some newly built projects, to host all eight Olympic snow sports

in 2022. The three clusters will be connected by a new high-speed railway, which will be completed by t

he end of this year. It looks beyond the Games to boost future winter sports tourism.

According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the f

irst test event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.

About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hecta

re forest reserve has been built nearby for transplantation of all the trees affected by the construction.

“The preparations are ready to step up to the next stage, from planning to

the readiness phase. Beijing is ahead in the race against time,” said Liu Yumin, dire

ctor of the planning, construction and sustainable development department of the 2022 Olympic Organizing Committee.

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More nurses sought to treat elderly populationetition at a tra

Health authorities will redouble their efforts to train nurses in eldercare as the proportion of older people in the pop

ulation expands and tens of millions of people struggle with disabilities, a senior health official said on Wednesday.

Jiao Yahui, deputy chief of medical administration and supervision at the National He

alth Commission, said there are not enough nurses to cope with the growing needs of the country’s elderly.

A regulation on the training of healthcare workers and standards of service is being drafted. It i

s expected to boost the number of nurse’s aides, Jiao said ahead of International Nurses Day on Sunday.

The nurse’s aides will complement the work of full-fledged nurses to meet the demand for services for the elderly, she said.

The number of registered nurses in China topped 4 million as of the end of last year. Nearly 70 perc

ent held a junior college degree or above, accounting for almost half of all healthcare professionals, she said.

asrunde.cn

hinese companies lead in global 5G patent applications with

Huawei ranking first, according to a report by IPlytics, an authorized patent data company.

Chinese companies topped the list for most 5G Standards-Essential Patents applications in communicat

ion systems by the end of April, accounting for 34 percent of the world’s total, The Paper reported Wednesday, citing the report.

Chinese tech giant Huawei has taken a leading role by owning 15 percent of Stan

dards-Essential Patents, according to the report Who Is Leading the 5G Patent Race?

5G SEPs are patents any company will have to use when implementing standar

dized 5G technology and no one can avoid them, giving them key value among all patents.

Three industrial leaders from China were included in the top 10 list of 5

G SEP family owners, with Huawei taking the crown, and ZET Corp and China Academy of

Telecommunications Technology grabbing fifth and ninth places, respectively.

yajkaz.cn

Opening up of film market leads to vibrancy

the 22nd film of Marvel Cinematic Universe, has made more than $2 billion globally wit

h over $576 million, nearly a third of the total, being contributed by the Chinese market.

The percentage of Hollywood films contributing to China’s box office has witnessed a gradual decline in recent years

thanks to the rise of successful Chinese films including The Wandering Earth and Dying to Survive.

Due to its explosive growth in third-and fourth-tier cities, the Chinese movie market is certainly poised to become the larg

est in the world in the not too distant future. Last year, China’s total box office exceeded 60 billion yuan ($8.9 billion), gra

dually closing the gap with the United States whose box office was about $11.6 billion. China has become such a form

idable force in the global film industry that international film producers cannot afford to overlook it.

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