Multiple channels needed to keep job market healthy

Multiple channels needed to keep job market healthy

The Chinese government has accorded priority to achieving stable and expanding employment

among its six stabilization tasks. The importance of stable employment has also been highligh

ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp

loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues.

The government is making special efforts to stabilize and expand employment, especially be

cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade.

The China Institute for Employment Research of Renmin University

of China has calculated the employment market index, which shows the health of th

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rche which, under threat from Marine le Pen’s National

rche which, under threat from Marine le Pen’s National

has taken a tougher line on protection of agriculture. France, for example, is opposed to including agriculture in transatlantic trade talks.

The Greens are one of the big winners in the elections (even beating Germ

any’s Social democrats into second place), and they will seek to impose strict conditions reg

arding climate change, the environment and human rights on future trade deals. This attitude will also make it dif

ficult to agree a new trade deal with the US, as it has not endorsed the 2015 Paris climate agreement.

Although the nationalist and populist parties now have more seats, it does not mean they will form a united front in the EP. Th

ere are divisions on trade, on the environment and on dealing with China. Some of these parties, such as the Na

tional Front, are seen as firm opponents of free trade, whereas Alternative for Germany and Matteo Sal

vini’s Lega Nord in Italy tend to be more supportive (depending on the content of the trade agreement).

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Substantial and resolute efforts must be made to prevent

 major contradictions and outstanding problems through coordinated planning and targete

d measures to make reform better serve the country’s economic and social development, Xi said.

The meeting reviewed and approved a series of official documents including a guideline on innovation and improving ma

cro-regulation, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.

The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize eco

nomic growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr、

eventing risks, and ensuring social stability, according to a statement issued after the meeting.

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Besides electrified vehicles, Volkswagen and JAC have

Besides electrified vehicles, Volkswagen and JAC have

also partnered with local authorities in Hefei to test autonomous

driving technologies, including robotaxis and autonomous fleet management, and on-de

mand mobility services, like ride hailing and car sharing, but none of the parties revealed the details.

Kong Xuanyou, vice-foreign minister and special representative of the Chinese government on

Korean Peninsula affairs, will take up his new post as Chinese ambassador to Japan on Thursday.

Kong, 59, is a fluent Japanese speaker. During his 34-year diplomatic care

er, he has spent two-thirds of the time dealing with issues related to Japan.

He has served in Chinese diplomatic missions in Japan on three occasions, and was China’s ambassador to Vietnam from 2011 to 2014.

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Speaking at a regular news conference, Lu said the US sid

Speaking at a regular news conference, Lu said the US sid

de has made various remarks about trade negotiations, with some saying the agreement w

ill come out soon while others saying it’s still difficult to reach an agreement, from time to time.

China’s position has been consistent, Lu said. “The trade frictions should be resolved through friendly con

sultations and negotiations, which must be based on mutual respect, equality and mutual benefit,” he added.

SOUTHAMPTON, England – Nigel Farage’s Brexit Party was se

t to storm to victory in a European election, riding a wave of anger at the failure of Prime Min

ister Theresa May to take the United Kingdom out of the European Union, early results showed.

The country’s two main parties, May’s Conservatives and the opposition Labour Party, hemorrhaged support while sm

aller pro-EU parties did well: the Liberal Democrats were in second place, according to a BBC projection.

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Cyclists should travel on the right and be aware that rid

Cyclists should travel on the right and be aware that rid

t riding against the traffic and parking are not allowed on the bikeway. In t

he event of a bicycle breakdown, cyclists should wheel their bikes to the nearest exi

t and leave the bikeway, keeping to the right side of the road, said the rules. There are eight entrances and exits on th

e 6.5-km bikeway and six of them are equipped with assistive mobility devices for bicycles.

To better meet the needs of commuters, a reversible lane has been introdu

ced on the bikeway, and cyclists should ride in the direction shown on the signs.

Some 11,600 commuters travel between Huilongguan and Shangdi daily, and the ope

ning of the reversible lane is expected to provide convenience to them during rush hours.

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Under the trade pressure, the world’s second-largest ec

Under the trade pressure, the world’s second-largest ec

conomy is accelerating restructuring reform and shifting from an export-dominated growth model to a more services-driven model, they added.

“The United States escalated trade tensions, but it cannot solve any pro

blem. This causes volatility and sluggishness in global financial markets and hurts the global ec

onomy,” said Guo Shuqing, the People’s Bank of China’s Party secretary and also head of the China Banking and In

surance Regulatory Commission. His keynote speech was delivered by a commission spokesman at a forum on Saturday.

Impact on the Chinese economy will be very limited, said Guo. “Chinese finan

cial markets, although they were excessively affected by trade tensions last year, are unl

ikely to be hit more dramatically going forward, as financial resilience is strengthening.”

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The US administration’s “America first” policy, repres

The US administration’s “America first” policy, repres

ented by its unilateral and protectionist moves, has harmed both countries’ economic interests an

d proved to be a drag on the global economy, as the recent turmoil in the international capital market shows.

Simulation tests of large general equilibrium models show that

both countries’ economic indicators would suffer due to the US tariff hike on $200 billio

n of Chinese goods two weeks ago. For example, China’s GDP could decline by 0.657 percent, manufacturing jobs by 1.02

8 percent, exports by 3.359 percent, and imports by 1.384 percent, while the decrease in the US’ GDP would be 0.004 per

cent, manufacturing jobs 0.652 percent, exports 1.876 percent, and imports 3.883 percent. And global GDP, ma

nufacturing jobs and trade could reduce by 0.123 percent, 0.28 percent and 0.79 percent.

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hich means even if Beijing does not take countermeasures

hich means even if Beijing does not take countermeasures

ch means even if Beijing does not take countermeasures equal in scale to Washington’s, the US economy will not be left unscathed.

Tariff hike will harm both China and US

The list of products subject to US tariff hike covers daily necessities, light industry and machinery, with the main targets

being agricultural and food products, and general manufacturing goods produced by light industries.

In terms of agricultural and food products, China is the third-largest supplier to the US, with processed fruits and

vegetables; fruit and vegetable juice; fast food and snacks; fresh vegetables and tea leaves being the main items.

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Accelerating the opening up of China’s commodity futu

Accelerating the opening up of China’s commodity futu

ures market will help foreign investors optimize their renminbi-denominated asset portfolios as they can inc

orporate investment targets of a wider variety, said Wang Tingting, an associate pro

fessor of finance with the Central University of Finance and Economics in Beijing.

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures market to foreign invest

ors, as they have large exposure in the A-share market and are therefore in need of this risk management tool.

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