Dealing with the economic bullying, trade protect

tionism and unilateralism of the United States is not just the business of China, it also matters to the recovery of the world economy,” Zhang said.

Regarding the future development of the SCO, Zhang said the short-term goal of the regional organization is to build a commu

nity of development and security while its long-term goal is to build a community with a shared future.

The “Annual Report on the Shanghai Cooperation Organization (2019)”, released by the Chinese Academy of Social Scien

ces on Monday, highlighted the challenges the regional body is facing due to unilateralism, protectionism and terr

orism against the backdrop of increasing global uncertainty and instability.

The report said political mutual trust among the SCO members has been strengthened and high-quality de

velopment of the BRI has injected fresh impetus into the member states’ cooperation.

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Perhaps this concern has prompted the US to scuttle the

 rounds of Sino上海千花坊女神会所-US trade talks, promote legislation on the protection of Taiwan

, increase its military presence in the South China Sea, and hype up the “clash of civilizations” narrative.

The US’ moves, combined with the global economic slowdown and China’s economic transformation, sho

uld impel China to expedite its supply-side structural reform, in order to achieve high-quality development as well as pro

mote economic globalization by further opening up its economy using the Belt and Road Initiative as a channel.

Market must play leading role in resource allocation

To counter the threats to economic globalization and build a ne

w and open economy, China should allow the market to play a lead

ng role in the allocation of resources and further open up the economy to domestic and foreign players, so

as to facilitate market integration and free and orderly flow of the factors of production.

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Nobel laureate Mo Yan and a dozen winners of the presti

gious Luxun and Maodun literature prizes, including Ge Fei, A Lai and Su Tong, together

with a group of renowned Shanxi writers and poets gathered that week to discuss literary depictions of the countryside.

The village has a literary tradition which dates back to the mid-20th century, when a new Chin

ese modern literary genre shanyaodan, a nickname for a potato that’s popular in North China, emerged.

Authors who follow the shanyaodan school of writing such as Zhao Shuli, Ma Feng and Xi

Rong were all living in the Shanxi countryside, where their work centered around rural life there.

Many of Ma’s works in particular were written in Jiajiazhuang, where he witnessed the changes to the village broug

ht about by the agricultural cooperatives during the 1950s after moving to work in Fenyang.

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Keeping with their “Wuhan spirit” and their June 2017″A

Astana consensus” on “not allowing differences to become disputes”, their “strategic guidanc

e” to their armed forces have ensured peace on their borders. This has prompted bilateral tra

de to finally cross its decade-long volume of $70-75 billion. For this year, China-India trade is set to cross $100 billion.

Likewise, China’s investments in India have witnessed a sharp upsur

ge from $688 million in 2016 to $5.6 billion last year. The United States’ decision to raise tariffs

on Chinese, as well as Indian, products is expected n Sino-Indian trade and invest

ment partnership. Critics may describe this as China’s tactical move triggered by its intensifying trade dispute w

ith the US. Yet there is no denying that the past two years have seen a marked shift in China-India relations.

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The currency’s depreciation was purely caused by mark

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at

tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.

According to Guo, the short-term fluctuation of the RMB exchan

ge rate was normal, and the depreciation will not last long given the stable economic growth base.

“Any speculative activities to short the RMB will suffer huge losses,” he warned.

The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou

nd 6.89 per dollar for eight days from May 20, and market watchers said market-oriented depreciation pressure was losing steam.

Yi Gang, the central bank governor, has said several times that the PBOC has ceased

direct intervention in foreign exchange markets, and the performance of RMB is address

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The US administration’s more often than not conflicti

conflicting goals have resulted in the trade conflicts with China an

d other countries. For instance, China’s exports to the US grew 11.3 percent

and its trade surplus with the US increased to $323 billion in 2018, up 17.3 percent year-on-year.

Moreover, Washington has forbidden US companies to sell chips to ZTE, a Chinese multinational telecommunications equip

ment and systems company, even after imposing huge fines on the company. By so doing, the US has act

ually encouraged China to increase investment in its high-tech sector. So, even if China and the US

were to strike a deal, China would be prompted to import lower volumes of energy and agricultural products from the US.

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Huawei has more than 13,000 component and service su

uppliers worldwide. In November, it unveiled a list of its 92 core suppliers for the first ti

me. Thirty-three of them are from the US, including chip giants Qualcomm Inc and Intel Corp.

Wang Yanhui, secretary-general of the Mobile China Alliance, said, “Huawei has also been pre

paring for such a situation for some time and has hoarded chips to handle a worst-case scenario.”

The company became the world’s third-largest buyer of semiconductors last year.

China will definitely safeguard the legitimate rights and interests of its businesses, and Trump’s executive order is n

ot a “constructive and friendly” gesture, Foreign Ministry spokesman Lu Kang said on Thursday.

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However, statistics also show that the total vehicle sale

s in the first four months of this year stood at 8.35 million units, a decrease of 12.12 percent compared with last year. Th

e country produced 8.39 million units during the same time, down 10.98 percent year-on-year.

New cars at a parking lot in Qingdao, Shandong province, are ready to be delivered to clients, April 30, 2019.

In April, China’s total vehicle sales fell 14.61 percent year-on-yea

r to 1.98 million units, and the output dropped by 14.45 percent to 2.05 million units.

The sales of self-owned brands passenger vehicles totaled 584,700 units last month, a decline of 27.88 percent year-on-year.

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With its key role in the national economy, the integrated dev

velopment of the region could play a vital part in leading regional growth, the statement said.

It noted that the elevation of the integrated development of the Yangtze River Delta t

o the status of a national strategy is a major decision adopted by the CPC Central Committee.

Authorities in the four provincial areas must enhance their awareness

of integrated development and boost their interaction and cooperation, it added.

The meeting also decided to start a thematic education campaign of Party member

s on the subject of remaining true to the Party’s original aspirations and keeping their mission firmly in mind.

It called for struggles against all problems that affect the Party’s purity and ad

vanced nature, and for efforts to make the Party even stronger, the statement said.

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The bicycle industry has found a driving force for new pro

 profits in producing electric bicycles, exploring niche markets, an

d improving intelligent and network connecting levels, Economic Daily reported Monday.

As China’s bicycle-sharing companies experienced periods of boom and decline in 2017 and

2018, many of the country’s bicycle companies have discovered new profit potential by producing e-bicycles.

Statistics show the output of shared bicycles was 5 million in 2018, a quarter of that of 2017, while the o

utput of e-bicycles reached 32.78 million in 2018, up 5.8 percent year-on-year, according to the report.

Benefiting from ever-growing demand, the development of the e-bicycle has maintained strong growth momentum. In the f

irst quarter of this year, the profit growth rate reached 28.7 percent for e-bicycle enterprises above the designated size

in the industry, which refers to those with an annual main business revenue of 20 million yuan ($2.98 million) or more.

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