The danger here lies in the fact that excessively low

growth targets, based on excessively low estimates of potential growth, lead to lower actual growth. Fo

r an economy the size of China’s, a difference of even 1 percentage point has a huge impact on welfare.

Many economists would counter that a conservative growth target is useful-or even necessary-to create space for struct

ural adjustment. But this claim is unconvincing. Reducing China’s excessive reliance on investment in real es

tate-one of the economy’s most serious structural problems-does not necessarily require a reduction in FAI gro

wth, let alone GDP growth. Nor is slower GDP growth a prerequisite for improving financial stability.

China must pursue as high a growth rate as possible

In my view, because no one is sure what exactly China’s potential growth rate is, the best strategy is to try to achieve as high a g

rowth rate as possible, so long as it doesn’t worsen inflation and hinder structural adjustment.

koryoung.com.cn

hina’s growth a source of hope for allong proclaimi

With Chairman Mao Zedong proclaiming the founding of the People’s Republic of China on

Oct 1, 1949, the Chinese people began leaving behind a century of colonial humiliation and building a new life.

What remains poorly understood by the wider world even seven decades later is how dire were

the conditions in China during those days. While China sustained its triumph, Chinese people’s living stan

dard 70 years ago was barely 5 percent relative to their counterparts in the United States.

It was a dire starting point.

Transitions that raised China’s living standard

In the late 1970s, Deng Xiaoping introduced “reform and opening-up” policies

and established special economic zones, which ultimately facilitated China’s entry int

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ommunication key to shared future for mankind

The Conference on Dialogue of Asian Civilizations, which will be he

nth following the proposal of President Xi Jinping, demonstrates China’s

deep thinking and responsibility for promoting the development of civilization in Asia and the world. The conferenc

e will have great and far-reaching significance to the construction of a community of shared future for mankind.

The history of humanity is one of the coexistence and joint development of multiple civilizations. In his article on excha

nges among civilizations and mutual learning, published by the Qiushi journal on May 1, Xi wrote that “civil

ization becomes colorful because of exchanges, and abundant because of mutual learning”. He urged nations to “seek

wisdom, absorb nutrition from different civilizations, provide the people with spiritual support and comfort for thei

r soul, and join hands to resolve common challenges of various kinds confronting human beings”.

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lopment and prosperity, we need to promoEquality

te exchanges among civilizations and dialogues based on harmony in

diversity and inclusiveness. We need to undertake the cultural responsibility of int

ernational communicators, and let exchanges of culture and among civilizations, as well as mutual learning, con

stantly serve as bridges for people’s friendship, the impetus of international cooperation and bond of world peace.

Second, we should become builders of world peace and development. The wheel of humanities’ development is uns

toppable. Peace, reconciliation and harmony are historical trends. Equality, mutual trust and win-win cooperation are hi

storical necessities. Yet, as international conventions are attacked and multilateral mechanisms are cha

llenged, the anti-globalization tendency rises, and unilateralism and trade protectionis

qw46q.cn

The book includes 42 articles drawn from speeches an

 public remarks made by Xi from September 2013 to July 2018.

Since Xi proposed the BRI in 2013, he has spoken about the initiative on many occasions.

The discourses have provided guidance for the country to develop international cooperation, i

mprove global economic governance and promote the building of a community with a shared future for mankind.

Russia – There is no alternative to the peaceful solution of nuclear and

other issues on the Korean Peninsula, Russian President Vladimir Putin said Thursday, follow

ing a meeting with top leader of the Democratic People’s Republic of Korea (DPRK) Kim Jong-un.

Russia, for its part, is ready to continue cooperation to reduce tensions on the peninsu

a, and to strengthen security in Northeast Asia as a whole, said Putin at a reception in honor of Kim.

Putin said he was convinced that with active participation of the international community and all inte

rested states, the goal of ensuring lasting peace, stability and prosperity on the Korean Peninsula can be achieved.

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As President Xi has said, the initiative originated from

China, but it belongs to the world. China has put forward the idea of boosting global development vi

a infrastructure connectivity, and is working zealously to translate it into reality. This is based on wha

t the country learned from its own rags-to-riches story, its own experience of the benefits of free trade and inte

rnational cooperation, and on its understanding of the role a responsible major country must play.

The forum’s growing list of distinguished guests is credible testimo

ny that more and more countries appreciate the initiative‘s win-win nature and long-term pote

ntial. With 126 countries and 29 international organizations signing cooperation agreements with China und

er the Belt and Road framework, and the Asian Infrastructure Investment Bank now boasting 97 members, it is m

ore appropriate to call the initiative a global development mechanism than a Chinese one.

shlf17.com

hinese Navy to send huge fleet to take part in sea parade

Qiu Yanpeng (middle), deputy commander of the PLA Navy, attends a press confer

ence for the upcoming multinational naval activity to mark the 70th anniversary of the People’s Liber

ation Army Navy at the press center in Huanghai Hotel in Qingdao, Shandong province, Ap

ril 20, 2019. About 200 journalists from home and abroad attended the press conference.Chinese Navy

will send 32 warships and 39 aircraft to take part in a joint sea parade in waters near Qingdao.

Nearly 20 ships from about 10 countries will participate in t

he sea parade on Tuesday, deputy commander of the PLA Navy Qiu Yanpeng said.

A Singapore Navy frigate arrived on Friday in Qingdao, Shan

dong province, becoming the first foreign warship to arri

ve ahead of a grand event to honor the 70th birthday of the People’s Liberation Army Navy.

The PLA Navy will hold multinational naval activities in Qingdao and nearby waters from

Monday to Thursday to celebrate its founding anniversary. They will include a joint sea parade, high-level sympo

siums, public tours of ships, military music performances and other cultural exchanges.

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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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Shanghai Astronomical Observatory, which leads the

 country in very-long-baseline interferometry, the technique the telescope array used for

the black hole image, took the lead in organizing and coordinating Chinese researchers particip

ation in the EHT observations and studies, Shen said. That allowed Shanghai to b

e one of the six cities worldwide involved in the simultaneous news conferences on Wednesday.

No Chinese telescope-including the Five-hundred-meter Ape

rture Spherical Telescope, the world’s largest filled-apertur

e radio telescope, in Guizhou province-was involved in the EHT observations.

Yuan Yefei, a professor in the University of Science and Technology of Chi

na’s astronomy department, also an EHT team member, said the Guizhou telesco

pe did not take part mainly because its wavelength band was not what EHT needed for this observation.

www.xujiaqing.net.cn

Wang Xiaoshuai: Auteur’s film shows solicitude towar

the latest film by leading Chinese auteur Wang Xiaoshuai, sets to examine changing times in modern China.

It is a family saga about parenthood, friendship, struggle and forg

iveness. Covering a large stretch of space and time, t

he story moves from the 1980s to the present, and from the North to the South of China.

Known for realism, Wang is no stranger to prominent international film festivals. This time,

his work scooped two Berlin Film Festival awards – Silver Bear for Best Actress and Best Actor.

On the occasion of So Long, My Son screening in Chinese cinemas, China Daily sp

oke with him about the film’s production, his life and his view on Chinese auteur film.

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