In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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The strategic guiding role of national development plannin

ng should be leveraged to improve coordination mechanisms

for economic policies such as finance, currency, employment, industry, and regional develop

ment to ensure the nation’s economic development stays within a reasonable range, the statement said.

The meeting highlighted the importance of strengthening innovative cap

abilities as well as opening-up and cooperation in this regard, and called for improving the serv

ices and environment for opening-up and cooperation so that development is promoted through opening-up, inn

ovation is advanced through reforms and win-win results are achieved through cooperation, it said.

Tough and newly emerging problems should be resolved through deepening reforms, the state

ment said, adding that the capability of dealing with challenges and preventing risks should be intensified.

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employment market, based on big data of online recruit

 this year was 1.68, down from 1.91 in the first quarter of 2018. Although the figure was above 1, the balance line, it was the first decline since the beginning of 2018.

About 8.34 million new college graduates and 2 million migrant workers are expected to enter the job market this year. Added to the list of job seekers woul

d be those who lose their jobs because of the industrial structural transformation and special type of job see

kers such as veterans. This means at least 12 million urban jobs have to be created this year.

Still, the employment pressure this year is not overbearing for two re

asons. First, the number of job seekers has not increased considerably from last year.

In fact, the number and ratio of China’s working-age people have both d

eclined for the seventh consecutive year. Over the past seven years, China’s working-age

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A great debate set over tariffs, technologyhorwom

Two television anchorwomen — one from China and one from the US — will debate

two sides of the long-running trade dispute between the two countries.

Liu Xin, a mainstay of the China Global

Television Network, and Trish Regan, a former CNBC busi

ness correspondent who now hosts her

own show on the Fox Business Network, will have at it over i

ssues such as tariffs and technology

Wednesday at 8 pm EDT in the US and simultaneously at 8 am Thursday in China.

The discourse will take place via satellite, as Liu will be in CGTN’s studio in Beijing, while Regan will be at Fox’s studio in New York.

The debate idea came about after the two newswomen clashed earlier this month after Regan said Beijing stole “$600 bill

on worth of intellectual property a year”, leading to the Trump administration tariffs.

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At present, 5G has become the driving force to boost Ch

hina’s innovative and high-quality development,” Sui Zhenjiang, vice-mayor of Beijing, said on Wedne

sday during a 5G industrial development and investment summit held in Yizhuang, in southeastern Beijing.

“Beijing is actively transforming itself as a national scientific and tech

nological innovation center. With advantages in complete telecom infrastructure, abunda

nt talent and strong research and development capabilities, we have the resolve to accelerate the push for making brea

kthroughs in 5G technologies and build an independent and innovative 5G industrial system,” Sui said.

As of May 24, the three major telecom operators-China Mobile, Chin

a Telecom and China Unicom-have established 4,700 5G base stations in Beijing, acc

ording to Wang Gang, head of the Beijing Municipal Bureau of Economy and Information Technology.

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No evidence was found to show Chinese monetary

 authority intervention in foreign exchange markets over the past se

veral months, according to the US Treasury’s semiannual foreign-exchange report to Congress.

The May report summarized that China’s growth appears to be stabilizing on the back of recently enhanced supportive measures.

The report expanded the number of countries it scrutinizes for curre

ncy manipulation to 21 from 12. Countries with a current account surplus with the US

equivalent to 2 percent of GDP were put on the watch list, compared with 3 percent of GDP before.

China didn’t meet the “currency manipulator” criteria listed by the US Treasury, but Washington will continue asse

ssing the RMB’s performance given China’s large trade surplus with the US, the report said.

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alwai highly commended China’s achievements in its ref

form and opening-up drive, and said the country’s success has not only brought changes to itself, but als

o has profound and positive influence on the world. Vanuatu firmly honors the one-China policy

and supports the Chinese government in its efforts to realize peaceful national reunification, he added.

oreign investors may get access to more onshore commodity contracts 

China will give foreign investors more access to its commodity futures market as part of it

s continuing efforts to strengthen the real economy, the top securities regulator said on Tuesday.

The move will benefit both overseas and domestic market participants, and

the opening-up of the stock index futures market will also speed up, experts said.

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Foreign investors’ access to onshore stock index futures

“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 mark

et to foreign investors, as they have large exposure in t

he A-share market and are therefore in need of this risk management tool.

Foreign investors’ access to onshore stock index futures is an “infrastructure” for fin

ancial market opening-up, without which foreign investors’ passion for Chinese shares may be dampened, said Wa

ng Maobin, investment department chair at the University of International Business and Economics in Beijing.

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Ameesha Chauhan, who is in a hospital in Kathmandu

andu recovering from frostbite she contracted during crowded conditions, told AFP that cli

mbers without basic skills should be barred to prevent a recurrence of this year’s deadly season.

The 29-year-old Indian had to wait 20 minutes to come down from the peak. She saw some clim

bers without basic skills fully relying on their Sherpa guides. Officials should change the qualification cri

teria. Poorly trained climbers put their own lives at risk and also the lives of the Sherpas, Chauhan said.

Some climbers died due to their own negligen

ce. They insisted on reaching the top even when their oxygen was running out, she added.

New European Parliament reflects divided policy options

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ale Zhang, managing director of Shanghai-based con

nsultancy Automotive Foresight, said SEAT’s smaller cars will help its parent company to reach custo

mers in China’s smaller cities, where electric cars built on Volkswagen’s own platforms would be less affordable.

Volkswagen, as well as its subsidiaries from Audi to Porsche, plan to deliver aro

und 1.5 million electrified vehicles, most of them pure electric cars, in China by 2025.

It also expects global sales of electrified vehicles will total 22 million by 2028, and half of them will be produced in China.

China overtook the United States as the largest producer and market of new energy vehicles in 2015.

The China Association of Automobile Manufacturers expected sales of su

ch vehicles to reach at least 1.6 million this year, up from 1.2 million in 2018.

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