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In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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ourage the innovation of original technologie

 and enhance intellectual property right protection, Xi said. He called on

the governments to build a stable, fair and transparent business environment, and to he

lp private enterprises and small and medium-sized companies to address their difficulties in finance.

Governments in the central region should attract advanced manufacturing enterprises moved from the coastal reg

ion, take part in Belt and Road international cooperation, enhance the protection of the environment, create m

ore jobs for poverty reduction and make relevant policies to support the rise of the central region, Xi said.

hina will further open and reform its markets, as well as facilitate a predictable busin

ess environment to help companies improve their ability to respond to risks, said the Ministry of Commerce.

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be why despite the US government blacklisting Huawei, Re

Ren on Tuesday expressed continued willingness to collaborate with US partners in the future.

Ren’s confidence lies in Huawei’s capacity to serve its customer

s under “any circumstances”, and has the support of its growing clientele at home and abroad.

“Last week, in public bidding by China Mobile, we won contracts to build 5G networks for 37 of the 40 cities,” Ren dis

closed. “Our capacity for mass production is enormous, and will not drop much with US restrictions”.

The otherwise low-profile Huawei leader made no secret about his pride

in his company’s technologies: “Huawei’s 5G will absolutely not be affected. When it c

omes to 5G technologies, others will definitely not catch up in two or three years”.

That was why the confident Ren said the 90-day exemption Washington declared on Monday was dispensable.

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Winter Games: 1,000 days to gontdown activity unfolds in Be

With 1,000 days to go before the 2022 Winter Olympics, pr

eparations are well underway for a successful and sustainable event.

Built for the 2008 Summer Games, Olympic Park in Beijing’s north

ern downtown area entered the spotlight again on Friday as the country began its cou

ntdown. The 2022 Winter Olympics, will be held in Beijing and co-host Zhangjiakou in adjacent Hebei province.

As the symbolic “1,000” flashed on a digital clock on the park’s Lin

glong Tower, a broadcasting facility for the 2008 Games, expectations were heig

htened for the winter sports extravaganza, which will run from Feb 4 to 20 in 2022. Three zones will feature athl

etic events — downtown Beijing, the city’s northwest Yanqing district and Zhangjiakou’s mountain district Chongli.

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The company will consider adding employees, researc

ch and field development resources to expand in the Chinese market over the coming years, he said.

Ministry of Commerce spokesman Gao Feng said last month that the two countries’ negotiating teams are hashing out the text of a deal, including an enforcem

ent mechanism, based on mutual respect and benefit. Both countries, the world’s two biggest ec

onomies, have been intensifying their consultations and aiming to break the deadlock in a timely manner.

In the ninth round of trade consultations, negotiators discussed tec

hnology transfers, protection of intellectual property rights, non-tariff measures, the s

ervice sector, agriculture, trade imbalances and enforcement mechanisms.

Trade between China and the US amounted to 815.86 billion yuan ($121.7 billion) in t

he first quarter of the year, an 11 percent year-on-year decline, according to the General Administration of Cus

toms. In March, Sino-US trade climbed 0.1 percent to 291.35 billion yuan, according to the administration.

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He said seeing is believing and he welcomes the stude

nts to visit China in the future.Kendra Le, a Niles North freshman, was thrilled about Xi’s response letter, the Chicago Tribune reported.

“I was surprised, very surprised,” Le was quoted in the report as say

ing. “It was an honor to receive a letter from him. It was really nice getting a letter from him.”

The report also said that Zhao Jian, the Chinese consul general in Chicago, personally

delivered the letter to a gathering of students enrolled in Chinese classes at Niles North on April 3.

Serena Meyers, a Niles North senior taking her first year of Chinese after thr

ee terms of Spanish, was not only happy to receive the response, but also ple

ased at how the Chinese leader made an effort to answer the questions her classmates posed.

“I was absolutely surprised,” she told the Chicago Tribune. “He has a lot to do and it was a

n honor he wrote back to us.”The Niles North High School began offering Mandarin courses in 2008.

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Shanghai aims to rev up car sales with trade-in subsidies

The city of Shanghai has become the first local government to answer the call of the central gove

rnment to promote automobile consumption by providing subsidies, since 10 mi

nistries and commissions of the country released six major methods of promoting car sales in January.

The official WeChat account of the Shanghai Municipal Government announced yesterday it will launch a car trade-i

n program, encouraging car owners to trade in their vehicles for new gas-powered cars complying with State-VI emi

ssions standards or new energy vehicles, according to a report by the 21st Century Business Herald.

The government will provide a subsidy of 10,000 yuan ($1,489) for a trade-in gas-powered

vehicle and 15,000 yuan for a trade-in new energy vehicle, the announcement said.

China’s automobile market saw a sales decline in 2018 for the first time

in 28 years, with passenger vehicle sales slumping for 10 consecutive months from last y

ear to March, according to the China Passenger Car Association. As the central government halved subsidies for new energy

vehicles this year, the promotion of car consumption depends more on local governments and enterprises.

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IMF upbeat on China’s 2019 growth in Zhuhai, Guangdong

The International Monetary Fund said on Tuesday that it expects China’s economy to grow 6.3 percent in 2019-up 0.1 perce

ntage point from its prediction in January. Analysts said the world’s second-large

st economy is set to remain stable as authorities continue to implement supportive policies.

The latest World Economic Outlook, released at the start of the sp

ring meetings of the IMF and the World Bank in Washington, also predicted the United States e

conomy would grow 2.3 percent this year, 0.2 percentage point lower than the IMF’s earlier forecast.

The outlook for China falls within the range of the country’s targeted goal of securing between 6 p

ercent and 6.5 percent growth for this year, and is very close to that of Chinese researchers.

On April 1, Zhang Ping, a researcher at the Institute of Economics of the Chinese Acad

emy of Social Sciences, said China’s GDP growth should remain at 6.2 percent in the fir

st half, and average 6.3 percent for the whole year, thanks to incentives including tax and fee cuts.

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The country will further open up its financial sector and

accelerate the process to fully lower the market access threshold for foreign investments in

banking, securities and insurance, the premier said. Service sectors, including medical care and educ

ation, will be opened up along with transportation, infrastructure and energy, he said.

Li said China will further make it easier for foreign companies to set up a venture capital presence and will improve regulati

ons on foreign investors’ strategic investments in listed companies and their mergers with and acquisitions of domestic enterprises.

Also, preferential policies for investments from Hong Kong, Macao and Taiwan w

ill remain unchanged, and greater development opportunities will be offered for them, Li said.

Wang Huiyao, president of the Center for China and Globalizaton, said he was impressed by Li’s speech to cl

ean up rules and regulations inconsistent with the Foreign Investment Law as well as to launch a more streamlined negative list.

“It shows China’s attitude of further opening-up, which is a higher-level and more concrete commitment of China,” he said.

Leif Johansson, chairman of global biopharmaceutical giant AstraZeneca, said

Li’s speech reflects the determination to create a more open, fair and transpare

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After decades of rapid GDP growth, China’s economy has en

entered a new era of moderately slowing expansion and a transition to a high-quality grow

h model. That has pushed economists to reconsider some long-term issues, such as whether the economy wo

uld cool down sharply before a considerable rise in wealth, especially after a period of fast growth.

“The key method to ensure China’s role as a high-income cou

ntry is to adjust industrial structures and promote productivity,” said Zhu Min, an inf

luential Chinese economist and former deputy managing director at the International Monetary Fund.

High-tech manufacturing, the service industry and the digital economy will be the new engines

for the economy, while some traditional driving forces, such as injecting funds into the market, are losing momentum, Zhu said.

China’s total GDP exceeded 90 trillion yuan ($13.4 trillion) in 2018, and the per cap

ita GDP was about $9,700. Economists predict that if the country maintains growth of at least 6 percent th

is year, which is likely given the current momentum, its per capita GDP this year would surpass $10,000.

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