Fifty percent of the enterprises affected by those addition

Fifty percent of the enterprises affected by those addition

nal tariffs are foreign funded. Many of them are US companies whose primary market is in the United States, Wang said.

The recent US moves “abruptly interfere with” the normal order of th

e global integrated circuit industry and undermine its stable development, he said.

China’s chip industry has grown on average 20 percent annually since

2012, with sales revenue reaching 653.2 billion yuan ($94.7 billion) in 2018, Wang said.

He conceded that there is a significant gap between China and global leaders in the overall design, manu

facturing, testing of the relevant equipment and raw material processing for integrated circuits.

The tariff hikes will bring troubles in China’s overseas manufacturing market, but they

will not lead to a decline in China’s manufacturing sector, Mei Xinyu, a researcher at the Chines

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tinue to purchase China-made goods if there are no substitut

tinue to purchase China-made goods if there are no substitut

Research released by the International Monetary Fund on Friday showed that some of these tariffs hav

e been passed on to US consumers, while others have been absorbed by importers leading to lower profit margins.

US restrictions on high-tech exports to China will push up Washington’s trade deficit with China, an

d rising prices could also reverse the low inflation in the US. Meanwhile, any speculative trading on the

Chinese currency amid its depreciation pressure will “inevitably suffer from a huge loss”, Guo said in his speech.

To eliminate bad outcomes from trade tensions, further opening-up in China’s services sec

tor, together with high-tech development supported by artificial intelligence, will help lift Chinese eco

nomic growth from 6.3 percent to around 7 percent by 2035, said Zhu Min, a former deputy managing director at the IMF.

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5G is not just a faster 4G. It will fundamentally reshape

5G is not just a faster 4G. It will fundamentally reshape

 how enterprises run businesses and overhaul a wide range of industries by using data to create more value,” Lu said.

Greater access to China’s financial sector will encourage global investors and dispel the gloom clouding the global econo

my amid Beijing’s trade tensions with Washington, according to senior officials and economists.

Chinese financial regulators are preparing a comprehensive opening-up, with more new measures in the pipeline. Forei

gn institutions with advanced performance in risk management, credit rating, consumer finance, endowments an

d health insurance are especially welcome, senior officials stressed over the weekend.

The opening measures will offset part of the negative impacts of trade friction on economic

recovery, and enable China to reach its GDP growth target of above 6 percent this year, they said.

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The climber was brought to an altitude of 7,028 meters

The climber was brought to an altitude of 7,028 meters

Wednesday night, and for safety concerns, the team stayed one night at this location.

On Thursday morning the climber was then brought to a camp at an

altitude of 6,500 meters, the association’s general secretary, Pema Trinley, said.

The association sent ten locals and one riding yak for support, and the climber was transferred to the 5,200-meter base cam

p by 4 am Thursday. He was sent to Gyrong Port by midnight, which he left Friday morning in good condition, Tri

nley said.This year, the region started its annual spring mountain climbing activities in early April, and since then 144

overseas and 12 domestic climbers have been approved to attempt to conquer the mountain.

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The ministry made the remarks after the United States gover

The ministry made the remarks after the United States gover

nment late last week ordered its tech companies to cut ties with China’s Huawei and put a number of Chinese comp

anies on an export blacklist , which makes it almost impossible for listed companies to purchase US-made goods.

Gao Feng, ministry spokesman, said China will

provide consumers in various countries with quality, reliable and diverse products.

The Chinese government is confident it will protect the legitimate

rights and interests of Chinese companies, he said Thursday at a news conference.

The misuse of the state power by the US to suppress Chinese companies not only seriously undermines the commercial cooper

ation between companies on both sides, but poses a serious threat to the safety of the global industrial chain, he said.

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Huawei earlier said it had been preparing a contingency

Huawei earlier said it had been preparing a contingency

ncy plan for such a block to Android by developing its own technology, of

which some is already being used in products sold in China, said the Reuters report.

The impact is limited in the Chinese market, as most of Go

ogle’s services have alternatives offered by domestic competitors like Tencent and Baidu.

However, Huawei’s European market could be affected as Huawei licenses these serv

ices from Google in Europe.A radio telescope in Shanghai that has made significant contributions to ast

ronomy for nearly a decade and participated in long-term observations used to confirm data in the first image of a b

ack hole in deep space, won the top prize on Wednesday at the 2018 Shanghai Science and Technology Awards.

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This facial recognition app tells one panda from another

This facial recognition app tells one panda from another

Having trouble discerning one furry panda from another? A facial recognition app will make it easy for you.

The app is developed by the China Conservation and Research Center for Giant Pand

as along with researchers in Singapore Nanyang Technological university and Sichuan Normal University.

The image analysis research kicked off in 2017. A database now contains about 120,000 images and 10,000 video clips of giant pandas.

Close to 10,000 panda pictures have been analyzed, marked and annotated.

Using the database, researchers are able to carry out automa

tic facial recognition on panda faces to tell one animal from another, the center said.

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it its lowest level since November. Trade talks betw

it its lowest level since November. Trade talks betw

ween China and the United States recently faltered and a large amount of additional tariffs are expected to be imposed on imports from both sides.

China will take necessary measures, in response to foreign exchange market flu

ctuations, including using a strengthened risk management system, said Pan.

He also stressed that authorities would crack down on illegal activities in foreign exchange trading.

“China has sufficient policy tools,” said Pan, who is also director of th

e State Administration of Foreign Exchange, the country’s foreign exchange regulator.

The PBOC vice-governor also confirmed on Sunday that China will continually implement

opening-up policies and improve the environment for overseas investors and protect the legal rights of foreign investors.

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Gao Feng, director of the ministry’s Economic Crime Inv

Gao Feng, director of the ministry’s Economic Crime Inv

estigation Bureau, said that illegal fundraising and related economic crimes remain a serious issue.

Cases involving over 10 billion yuan and more than 1 million investors are frequent, Gao said.

“The spread of illegal economic crimes such as illegal fundraising is also pretty fast.”

To raise public awareness, educational activities were organized this week to mark the 10t

h national awareness day for combating and preventing economic crimes, which fell on Wednesday.

With a focus on combating and preventing illegal fundr

aising and pyramid schemes – two types of crime common in recent years – face-to-face cons

ultations were organized and online presentations were launched to illustrate the methods of illegal fundraising.

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Another major problem is that the return on equity in the

Another major problem is that the return on equity in the

infrastructure sector is a mere 3 percent while that in the US capital market is about 12 percent. So how can the US attract more private capital to the infr

astructure sector without guaranteeing a return on equity equal to that in the capital market?

US suffering from a financial Dutch disease

The US’ monetary hegemony is itself a big impediment to the reindustria

lization process, which could be viewed as a sort of financial Dutch disease-the apparent causal

relationship between the increase in the economic development of a specific sector and a decline in other sectors. The mor

e heated the US stock market gets, the more serious the Dutch disease will become. And, ironically, the US leader is k

een on strengthening the stock market to showcase his political and economic track record.

Besides, the US administration cannot launch large-scale infrastructure construction projects, significantly redu

ce the trade deficit with China and deny Chinese investors access to its market all at the same time.

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