dumping and anti-subsidy measures, have largely reduced China’s export to the country.
Photovoltaic modules export to India also slumped 24.4 percent to 1.81 GW in the first quarter, as the Indian government ordere
d that all photovoltaic modules for government and central public utilities projects should be 100 percent India-made.
China’s top five photovoltaic modules exporters in value in the first quarter were Jinko Solar, J
A Solar, Trina Solar, Canadian Solar, and Longi, taking up 12.8, 8.6, 8.3, 7.4, and 6.7 percent, resp
ectively, of total export value. Export volume of the top 12 exporters took up 65 percent of total export, added the report.
The report projected that China’s photovoltaic modules capacity will furth
er expand 8.5 percent to 83 GW this year, with nearly 50 GW exported to the overseas market.
education to help people learn more about the values of different civilizations and to pass down the cultures,” he said.
At the session, 44 scholars and professors from Asian countries, along with France, Russia, Germa
ny and Canada, voiced their opinions on exchanges by Asian civilizations in historical and modern times.
Chen Lai, a professor at Tsinghua University in Beijing, said
some ancient Chinese philosophers had proposed values for different civilizations.
“Confucius said that ‘A gentleman seeks harmony, not conformity’, showi
ng respect to different cultures,” he said. “Mencius proposed that we should have goo
d intentions toward others. I think it’s an inclusive attitude toward other people and their civilizations.”
Four Chinese banks were among the world’s top 10 most profitable companies over
the past year concluding at the end of March, according to a report by Bloomberg.
The Industrial and Commercial Bank of China and China Construction Bank achieved a net in
come of $45 billion and $38 billion respectively over the past year, closely following Apple Inc, which retai
ned its title of world’s biggest moneymaker for the fourth straight year with a net income of $57.2 billion.
The Agricultural Bank of China and the Bank of China were respectively ranked at the
seventh and 10th places in the top profit list, with $31 billion and $27 billion in net incomes.
While financial service companies claimed nine spots among the top 10 most profitable compa
nies, no drugmakers or automotive firms appeared in the list for the first time in eight years, the report said.
trying to emulate the impressive growth of developing economies before them. An underperformi
ng global economy, and rising national and international tensions, will make that task even harder. If th
e world is serious about reducing poverty further, it must pay far more attention to their progress.
he US has repeatedly threatened to impose tariffs on about $300 billion of Chinese ex
ports to the United States. China showed the greatest sincerity in the Sino-US trade
talks and refused wild demands by the US side, said Foreign Ministry spokesman Geng Shuang on Tuesday.
China has become the most popular investment destination for global companies, since the country launched its reform and opening-up policy, said Geng Shuang.
The companies will choose which countries to invest in, or which partners to coope
rate with based on their interests and market rules. No words can influence them, Geng said.
China welcomes foreign companies to increase investment in the country, and the country will continue gi
ving efforts to create a more stable, fair, transparent and predictable business environment for foreign investors, said Geng.
World Trade Organization was being negotiated, China’s economy was ti
ny as a portion of world GDP. It was clearly a poor, less-developed country that, except in a f
ew areas, was not able to compete with Western companies in high-value-added products.
As Alexander Hamilton, the first US Treasury secretary, argued, a developing country may need to p
rotect its “infant industries” from already established foreign competitors. This was the policy foll
owed by the US in the 19th century and by Western Europe, Japan, and South Korea in the years after World War II.
China is no longer a poor country. It can no longer compete by using low-wa
ge labor. Fortunately, it has now developed world-class companies that are incre
asingly developing new products and services that can compete successfully in many foreign markets.
Wang Yang, an analyst with Soochow Securities based in Suzhou, Jia
ngsu province, said that apart from the economic recovery underpinned by su
pportive policies, cyclical factors also imply that earnings growth will continue to recover in the rest of the year.
According to Wang, the current profit cycle of A-share companies started from 2
016 and should end with recovery this year, as the cycles usually last for 12 to 14 quarters.
This year’s gradual recovery in earnings growth could help the A-share market to withstan
d external uncertainties, said Yan Xiang, an analyst with Shenzhen-based Guosen Securities.
“It is quite different from 2018 when earnings growth of most companies deteriorated. Earn
ings growth, a determinant of the market trend, is likely to be on the recovery path,” Yan said in a note.