Oswald

Wang, the Chinese think tank member, said many of

nternational relations scholars of his generation think of the US

as an example of the value of “freedom, democracy, fairness and human rights”.

“But those words are no longer applicable to describe the US today,” he said.

Wang said that for him, cancellation of the visa is nothing m

ore than a short-term absence from US academic activities, and “it is the US’ loss, not ours”.

He also said the decision would not affect the Chinese think tank he leads in continuing aca

demic exchanges with the US, and he suggests that China should not take countermeasures over such matters.

“No matter how petty the US becomes, China should still stick to its open attitude rather compete for who’s worse,” he said.

The China-proposed Belt and Road Initiative is not a geopolitical tool or a debt trap for particip

ating countries, but a platform for cooperation, State Councilor and Foreign Minister Wang Yi said on Friday.

Wang made the remark at a press conference ahead of the second Belt and Road F

orum on International Cooperation, which will be held in Beijing next week.

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Gao cited data to rebut that view and urged AmCham Chi

ina to evaluate China’s market access and business environment for foreign investors in a “comprehensive, objective and fair” way.

The ministry’s data showed that US investment in China jumped 71.3 percent year-on-ye

ar in the first three months of this year. In 2018, US investment increased 7.7 percent year-on-year.

Gao said expansion of the investment figures fully demonstrates that US compan

ies continue to be optimistic about the market and accelerate the pace of investing in China.

Gao cited another survey published in February by AmCham China that showed that most US

companies with operations in China said they have continued to see their revenues grow there.

Gao said the ministry will maintain close contact with foreign enterprise

s and business associations, and continuously improve China’s business environment.

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The eastern area and central China region are accele

rating the push for economic upgrading, which offers strong impetus for the growth. Despite the pressure, we still can see gr

owth momentum,” Zhang said during a macroeconomic seminar earlier this month in Beijing.

“Recently, the government has introduced a series of su

pportive policies which will gradually help grow the real economy,” Zhang added.

NDRC said a further 3.24 million new urban jobs were added in t

he first quarter, with surveyed unemployment ra

te remaining at a comparatively low level of 5.2 percent in March. And consu

mer prices registered a moderate rise of 1.8 percent in the first three months of this year.

A basic equilibrium in the balance of payments was maintai

ned, and China’s foreign exchange reserves exceeded $3 trillion, Yuan added.

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Economic structure was further improved during the sa

me period. The value-added high-tech sector’s out

put rose by 7.8 percent, higher than the country’s value-added industrial output.

In the first quarter, the NDRC approved 50 fixed asset investment projects, mainly in th

e fields of energy, transportation and high-tech. The total investment hit 370.3 billion yuan ($55.3 billion).

The NDRC reportedly is considering a slew of new measure to boost spending on automob

iles, home appliances and consumer electronics products. People close to the NDRC said it has sent a draft plan to

encourage consumption in the three sectors, according to a report in the National Business Daily.

The news caused shares of home appliance companies traded in Shanghai and Shenzhen to increase

by 1.47 percent on Thursday, according to Shanghai-based information provider Wind Info.

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Amazon to end local 3rd-party sales in Chinaon offices in Ne

US-based tech giant Amazon.com Inc plans to shut down its third-party seller services on its Chinese online marketplace

in July, as it shifts its focus to offering Chinese mainland consumers overseas products rather than goods from local sellers.

Starting July 18, customers logging in to Amazon’s Chinese web portal will only see a selec

tion of goods from its global store, rather than products from local third-party sellers.

Amazon said it will keep running its other businesses in China, inclu

ding the cross-border shopping business Amazon Global Store; Global Selling, which helps Chin

ese merchants sell products abroad; its cloud service platform Amazon Web Services; and Kindle e-book devices and content.

“Over the past few years, we have been evolving our China online retail business to increasingly

emphasize cross-border sales, and in return we’ve seen a very strong response from Chinese customers.

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The bond pricing mechanism will be further improv

Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds

at commercial bank counters to individual buyers between March 22 and early April.

The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b

onds issued by the central government as well as bank deposits with the same maturity.

Gross local bond issuances hit 1.18 trillion yuan in the first qua

rter, compared with only 219.5 billion yuan in the same period last year.

The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.

“About 60 percent of the bonds were issued for ongoing construction, especially

for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.

While debt financing continues to grow, the government is experiencing sharp declin

es in fiscal revenue growth, especially from tax and land sales, official data showed.

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From January to March, government tax income inc

creased by 5.4 percent year-on-year, 11.9 percentage points lower than that in the first quarter 2018.

Individual income tax decreased by 29.7 percent, the largest drop among three major tax item

s. Value-added tax growth has already slowed to 10.7 percent, down from 20.1 percent a year earlier.

Local government income from land sales fell 9.5 percent in the first three months, the Ministry of Finance said.

As the central bank has taken a pause in monetary easing, fiscal policy should remain pro

active to stabilize economic growth and ensure the recent rebound is not just a seasonal fluke, said economists.

Xu Xianchun, a former deputy director at the National Bureau of Statist

ics, said that fiscal policy should be implemented “with proper intensity and at the right time”, t

o prevent large fluctuations in the investment growth rate and negative impact on economic stability.

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Military drill near Taiwan ‘necessary’sman for the State Coun

Mainland slams response by island’s leader, who called exercise ‘a threat’

A spokesman for the Chinese mainland said a military drill by Chinese bombers and warships around Taiwan on Monday was routin

e and slammed the island’s administration for misleading the Taiwan people and hyping tensions.

On Monday, various warships, bombers and reconnaissance aircr

aft of the People’s Liberation Army Eastern Theater Command conducted “necessary train

ing” around Taiwan as a means to test the joint assault capability between different branches of the military, Senior Colone

l Zhang Chunhui, the theater command’s spokesman, said in a statement on Monday.

The exercise took place in waters east of Taiwan and was part of a scheduled PLA exercise, he said.

“It is completely within the normal legal rights of a sovereign cou

ntry, and it’s beneficial for maintaining peace and security in the Taiwan Straits,” Zhang said.

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Its partial loss is a terrible blow to a proud country

 and to the world more widely,” said Macfarlane, the King’s College historian.

A woman identified only as Marie, who has lived in Paris for 20 years, said: “This is a monument b

uilding that belongs to the story of Paris, to the story of France. … Notre Dame is our story, our culture, our spirit.”

An experiment conducted by Chinese and US scientists on improving monkeys’ cognitive function has been

found to follow international animal rights standards, according to the Chinese research institute.

The study implanted 11 rhesus macaque monkeys with copies of the human MCP

H1 gene, which scientists believe is crucial for humans’ brain development and evolution.

The project is led by researchers from the Kunming Institute of Zoology of the Chinese Acade

my of Sciences, who are working with researchers from the University of North Carolina.

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On the basis of the four China-Japan political documen

s and in the spirit of seeing history as a mirror as well as facing the future, the two nations sho

uld continue to work toward the long-term, healthy and stable development of bilateral relations, he said.

As major economies in the world, China and Japan both support free trade and obey WTO rules, Li said.

He also welcomed Japanese businesses to expand investment in China

as the country will continue to unwaveringly deepen reform and expand opening-up.

China stands ready to move forward with talks with Japan and other rel

ated parties to further the negotiations regarding the Regional Comprehensive Econo

mic Partnership as well as the China-Japan-Republic of Korea Free Trade Agreement, he said.

Li also voiced China’s support for Japan’s hosting of the G20 Summit, which is slated this year

to be held in Osaka, and he hoped it would inject fresh impetus into global economic growth.

Kono expressed his appreciation for efforts made by the Chinese premier in helping return bilateral relations to the right track.

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