there is a relatively stable world economy. The high-technology sector and e-commerce can be

especially fast-growing given their rapid development in both countries, Li Xin, director of the Ru

ssian Center for Central Asian Studies at the Shanghai Institute of International Studies, told the Global Times on Thursday.

Li added that some traditional industries, such as energy, could witness a decrease in total trade as international fuel prices decline.

The expansion in China-Russia trade in 2018 was largely due to stable international economic growth and a closer

bilateral relationship, rather than a consequence of the China-US trade dispute, Li said.

Both countries have introduced policies encouraging trade cooperation, and these policies have clearly borne fruit, Li said.

However, the US-China trade conflict, which is hitting global confidence, could potentially play hav

oc with the world economy including trade between China and Russia if it escalates further in 2019, according to Li.

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had determined that there are ways to limit the risks of using Huawei in future 5G ultra-fast networks, citing officials familiar with the matter.

Such a decision dealt “a serious blow to US efforts to persuade allies to ban the Chinese supplier from high-speed telecommunications systems,” the report said.

One person familiar with the debate said the British conclusion would “carry great weight” with European leaders, since the UK

has access to sensitive US intelligence through its membership in the Five Eyes intelligence sharing network, the FT reported.

Zhang said that the UK had been concerned about the risks of usi

ng Huawei because of warnings from the US. But Huawei products are inexpensive a

nd qualified that they could not refuse, which was why they proposed schemes to test Huawei equipment.

Zhang hailed the system and the UK’s conclusion as “significantly pragmatic, and will set an example for other European countries.”

Cui Hongjian, director of the Department of European Studies at the China Institute of Interna

tional Studies, told the Global Times on Monday that it was not in European countries’ interests to blin

dly follow the US, which was confusing security with the market to crack down on Huawei.

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The world has been closely watching the latest round of high-level trade

negotiations between the US and China, which took p

lace in Beijing on Thursday and Friday, for clues as to whether a trade resolution

will be reached before the March 1 deadline.

With the slowdown seen in the economies of both countries and the

world in general, the US and China have a sober under

standing of the importance of reaching a trade deal, which is reflected by the

increasing flexibility shown by both parties. Last week, US Pre

sident Donald Trump even suggested that he could extend the deadline if both

parties are making good progress and are nearing a formal agreement.

As the US and China both have the need to reach a deal, it is generally expected

that both parties will make some compromises to avoid an escalation of tra

de disputes. In this situation, China will most likely significantly increase its

imports from the US in the short term, while at the same time making s

ubstantial changes with regards to issues like market opening and technology transfer.

At present, there is much speculation about what compromises China may

make or which industries the nation will open to more for

eign investment. Last year, against the background of the unprecedented trade war, the National D

evelopment and Reform Commission, China’s top economic planner, published

a new version of the negative list for foreign investment. The negative list, w

hich took effect on July 28, removed foreign ownership limits for special vehicles and new energy vehicle m

anufacturing, with the ownership cap for passenger car manufacturing scheduled

to be lifted by 2022. Moreover, th

e latest list also eased or scrapped foreign investment curbs on sectors like

banking, insurance, ship and aircraft manufacturing, and power grids.

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According to the latest data released by the State Administration of Foreign Exchange, China’s tourism trade deficit reached $237.4 billion in 2018, an increase of $21.4 billion over the prev

ious year. While the record high figure reflects the growing scale of outbound tourism consumption by domestic residents, it remains qu

estionable whether the domestic demand is so strong that it even caused the record outbound tourism consumption.

However, by analyzing relevant reports and statistics, I believe some of the figures about China’s tourism industry may

be dodgy, which could therefore be misleading for investment decision-making and should be clarified.

According to the preliminary statistics of the China Tourism Academy, Chinese travelers made 140 million outbound trips in 2018, up 1

1 million from 129 million in 2017. To a certain extent, the steady increase in the number of Chinese o

utbound trips indicates that the consumption is still growing and not falling.

But the important question is how many people actually traveled abroad

out of the 140 million outbound trips. According to the Annual Report of China Outbound Tou

rism Development 2018, Chinese trips to foreign countries and regions accounted for about 33.3 percent of total out

bound trips in 2017. Assuming that the ratio remained unchanged in 2018, then the number of trips to foreign c

ountries and regions came to about 46.67 million. Again assuming that half of the people who went abroad on av

erage twice last year, then the number of Chinese who went to foreign countries and regions was approximately 31 million.

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bilateral ties were upgraded to an all-weather strategic partnership.

“We wish that our relationship could be closer and the bond of friendship will be further strengthened in the future,” the admiral said.

Abbasi also noted that the Indian Ocean is vital for the global economy. Thr

eats to this region cannot be tackled by any navy alone. The Chinese navy’s mission to en

sure maritime security in the Indian Ocean has provided a lot of security to shipping in the region, he said.

Shao Shuguang, commander of the Task Group 998, said during meeting w

ith Abbasi that “Karachi’s long history and culture, the hospitality of the Pakistani pe

ople, especially the professionalism of our counterparts in your navy, have left a deep impression on me.”

“I hope that the navies of our two countries will have further close exchang

es and cooperation to jointly maintain maritime security and stability in the Indian Ocean,” Shao said.

During the visit to Kunlunshan, the admiral also reviewed the PLA Navy’s guard of honor.

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the basic prerequisites that micro and small enterprises should meet to renew their loans and on the regulatory

requirements for banking institutions to do this type of business.

The loan renewal policy does not apply to real estate companies or enterprise group head office that are not engaged in production

and business operation. Besides, qualified companies should not have delinquent loans and interests with malice, according to Jiang.

In terms of pricing, the regulator said commercial banks should adhere to market principl

es and encouraged banks to renew micro and small business loans at a lending rate no higher than the previous rate.

As of the end of 2018, the balance of micro and small business loans of the banking sector in Beijing

increased by 15.23 percent year-on-year to 1.2 trillion yuan ($176.95 billion). During the same pe

riod, the number of micro and small enterprises that received loans grew by 59,500 to 257,200.

A recent survey on 617 micro and small businesses in 200 villages in Beijing’s peripheral areas found that at the start-up phase, 13 perc

ent of the businesses obtained bank loans, 13 percent borrowed from friends and relatives, 8 percent secured funding from

microcredit companies, nearly 8 percent received loans from small lending services offered by Alibaba Group Ho

lding Ltd and Tencent Holdings Ltd, while the majority of business owners used their own money or borrowed from individual creditors, said Mo Xiugen, di

rector of research at the Chinese Academy of Financial Inclusion at Renmin University of China.

He advised policymakers to encourage joint-stock commercial banks and microcredit com

panies to play a bigger part in providing financing to micro and small companies, as these financial institu

tions are more flexible and experienced in serving small business clients than large State-owned commercial banks.

sh419ff.com

ina is racing to the forefront of the global artificial intelligence sector, with six domestic companies earning their place on a recent list of the top 100 AI startups in the world.

Released by venture capital database CB Insights, the list includes 23 startups headquartered ou

tside the United States, including six each from China, Israel and the United Kingdom.

Chinese companies SenseTime, YITU Technology, 4Paradigm, Face++, Momenta and Horizon Robotics made it onto the list.

CB Insights reported Chinese startups SenseTime and Face++, which focus on facial recognitio

n technologies, are the best-funded companies, followed by California-based tech company Zymergen.

A total of 11 startups on the list are unicorns, startups valued at more than $1 billion, among w

hich five are from China. SenseTime gained the top spot among those 11 with a maximum valuation of $4.5 billion.

With the blossoming of big data, cloud computing and i

nternet technologies, AI has become a new focus of international competition.

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The annual Huaihua Beautiful Country Culture and Arts Festival recently took place in Huna

n province, aiming to involve more villagers in art creation and vitalize local culture.

Hosted by the China Art Association, Hunan Photographers Association and the Huaihua Feder

ation of Literary and Art Circles, this year’s arts festival featured local people performing a vari

ety of disciplines on stage, including wind and percussion music, group dance and Chinese operas.

Unique to this year’s arts festival is a photography exhibition, showcasing 50 pictures taken by mi

grant workers. The photos are selected from the award winners of the 2018 Hunan Province W

orkers Photography Exhibition.
“These photos focus on the extraordinary achievements made by laborers from all wa

lks of life, freeze-framing the wonderful moments of their daily work, presenting their diligence, endeavor and co

mmitment to innovation,” says Liang Xiangfeng, secretary-general of Hunan Photographers Association.

The exhibition is a major measure taken by the association in 2019 in its bid to use the arts to alleviate poverty and promote rural vitalization.

Founder of the arts festival, artist Shu Yong, says: “To vitalize the countryside, we must first vitalize rur

al culture. Only when the local villagers feel proud of their home and culture, can rural vitalization truly be realized.”

ashpp.com

Secretary of State Mike Pompeo has had a phone conversation with Russian Foreign Minister Sergey Lavrov, reaffirming US stance on the Inte

rmediate-Range Nuclear Forces (INF) Treaty and Venezuela, the State Department said on Wednesday.

Pompeo told his Russian counterpart on Tuesday that the INF Treaty would terminate in early August unless Russia com

es back into full and verifiable compliance with the treaty, the State Department said in a statement.

Pompeo and Lavrov also discussed the situation in Venezuela and a peaceful transition to

democracy that is in the best interest of both the United States and Russia, said the statement.

The Russian Foreign Ministry said on Tuesday that Lavrov warned Pompeo in the phone co

nversation that Russia opposed US intervention in the internal affairs of Venezuela, including the use of force.

Washington will face violations of international law if the United States intervenes, Lavrov told his counterpart.

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Li, the professor, is a regular visitor, and he and his wife often bring their 3-year-

old daughter to participate in the activities. He

has also established a discussion group in Huilongguan in the hope of using people’s input to build a better area.

“Everyone has an idea of the kind of life they want to live, and to live in a better

community is everyone’s dream,” he said.

In an interview with 21st Century Business Herald, Tian Zaiwei, CEO of Sh

untiantong Co, the company overseeing Tiantongyuan’s red

evelopment, said the neighborhood covers the same area as many medium-

sized cities overseas. That means there is st

ill a long way to go, because construction and improvement of a city can often take

decades or even 100 years.

After 20 years, Tiantongyuan has slowly filled its developmental gaps, and despite

the lack of infrastruct

ure, the congestion and dense population, it remains an area that many

people consider when looking to buy property.

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