With joint efforts of all parties, China has built a founda

ation for commercialization of 5G,” the ministry said, adding it will issue commercial 5G licens

es in the near future, a clear sign China will soon officially enter the first year of 5G.

“As always, we welcome domestic and foreign enterprises to actively participate in China’s 5G network construction and effort

to promote application of the technology, and jointly share 5G development opportunities,” the ministry added.

China’s big three telecom carriers are forecast to spend 900 billi

on to 1.5 trillion yuan ($134 billion to $223 billion) in total on 5G network construction from 2020

to 2025, according to a report from the China Academy of Information and Communications Technology. In co

mparison, Chinese telecom operators spent 720 billion yuan on 4G network construction from 2014 to 2018.

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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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Market-oriented reform and opening-up will improve pr

roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.

Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest

ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg

ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.

Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing

hua University, said China “should be more confident” in accelerating opening-up of its financial sec

tor, which will help global investors seize numerous opportunities in the Chinese market.

Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv

ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.

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Even before the ruling, scholars had said Trump’s legal ar

Degree holders turn their backs on mega cities for better lifestyle choices

The population of college graduates is projected to reach a record high this year, turning an

already tough job market into a pressure cooker and intensifying the scramble for talent nationwide.

To many new graduates, mega cities such as Beijing, Shanghai and Guangzhou, Guangdong province, are less attractive beca

use of their high cost of living and greater peer pressure in the job market. And so the graduates are looking elsewhere.

The trend is changing the employment landscape in China, but it’s good news for sec

ond- and third-tier cities. The mega cities’ loss could be their gain in the brain drain game.

Continue reading “Even before the ruling, scholars had said Trump’s legal ar”

They cited a report in February from Trade Partnership World

wide as saying that increasing tariffs on $200 billion of goods to 25 percent, coupled with tariffs already in place — as well as expect

ed Chinese retaliation — would reduce US employment by more than 934,000 jobs and push down the US GDP by 0.37 percent.

According to data from the General Administration of Customs, two-way trade between China and

the US declined 11.2 percent year-on-year to 1.1 trillion yuan ($162.5 billion) in the period from January to April.

The fact that Beijing is still sending a delegation to the US for the trade talks is “very wise on China’s part”, said Gary Hufb

auer, a senior fellow and trade expert at the Peterson Institute for International Economics in Washington.

Douglas H. Paal, vice-president of the Asia Program at the Carnegie Endowment for Internat

ional Peace, said it “makes sense to continue the talks because the alternative would be a drastic signal to markets”.

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At least 41 dead in Russian passenger plane fire

Russia’s Investigative Committee says 41 people died in fiery airliner accident at Moscow airport.

The Russian Superjet 100 was flying from Moscow to Murmansk when a fire broke out on board. Aeroflot Flight SU1492 ret

urned to Moscow’s Sheremetyevo Airport, making a hard landing, news agency Interfax reported.

“According to our data, more than 10 victims needed medical

care,” Tass news agency quoted a source in the medical services as saying.

Earlier, the regional emergency services reported six victims.

The plane reportedly took off from the Sheremetyevo airport at 18:00 local time (1500 GMT) and

made an emergency landing after circling over the Moscow region for about 40 minutes.

It was “engulfed in flames” before the emergency landing, Tass quoted a source as saying.

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NTSB team has expertise in aircraft operations, structure

powerplants, human performance, weather, airports and other ar

eas,” the agency said, adding that it expects to brief the media later in the day.

The plane, chartered from Miami Air International, was attemp

ting to land at about 9:40 pm local time amid thunder and lightning when it slid off the runway and

came to rest in the shallow water of the river, authorities and passengers said.

The military base is on the western bank of the St. Johns River about 8

miles (12.87 km) south of central Jacksonville, about 350 miles (563.27 km) north of Miami.

Miami Air International is a charter airline operating a fleet of the Boeing 737-800, diffe

rent from the 737 MAX 8 aircraft that has been grounded following two fatal crashes involving that plane.

Representatives of the airline did not immediately reply to requests for comment.

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Xi also called for the two countries to further enhan

ce exchanges between their legislatures, political parties, youth, think tanks, media

and local authorities to cement their people’s support for friendly bilateral ties.

Bhandari said the joint building of the Belt and Road is a historic initiative and has an important global influence.

The initiative has served as a good platform for Nepal-China cooperation, she said.

The Nepali president expressed her congratulations on the 7

0th anniversary of the founding of the People’s Republic of China, and s

aid it is admirable what the Chinese people have achieved under the leadership of the Communist Party of China.

China is a true friend of Nepal, and Nepal sees opportunities in China’s prosperity and stability, Bhandari said.

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And, despite ongoing tensions, the total value of impo

orts and exports rebounded sharply in March, reaching 9.6 percent higher than March 2018. S

o, overall trade grew by 3.7 percent year-on-year in the quarter despite low growth rates in January and Febru

ary. Exports of electrical and mechanical products, which are higher value added, grew by 5.4 percent in the qua

rter. And, private sector trade grew 9.9 percent, far more than the overall growth rate.

I am worried to see that total investment in real estate grew by 11.8 per

cent year-on-year. Having lived through the 2008 finan

cial crisis in the United States, I’m wary of continued high investment in real estate in a time when property prices are al

ready astonishingly high and China’s living space per person has already surpassed that in Europe.

The bottom line is that fiscal and monetary policies combined with policies to promote structural transformation have

achieved a stable macroeconomic situation and steady movement toward supply side upgrading.

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He said that from a long-term perspective, populat

ion determines economic growth. Even though it will take some time, the large number of people i

n BRI-related economies will ultimately prove the potential for economic development in those countries.

Ma Yu, a researcher at the Chinese Academy of International Trade and Economic Cooperatio

n, said the BRI provides a new impetus for the recovery of the world economy. The improvement in infra

structure, and digital-related manufacturing brought by the BRI will restore the development capacity of the worl

d economy and bring new opportunities for the partnership between Chinese and local companies.

Also on Monday, the Office of the Leading Group for Promoting the Belt and Road Initiative

released an official report on the development, achievements and prospects of the BRI.

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