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Huawei launched its 5G smartphone in London on Thu

rsday as mobile network operators prepare to switch on 5G network in parts of the United Kingdom, Xinhua reported.

Also in Saturday’s call, Wang Yi urged the US to observe the one-China policy and the three joi

nt communiques between the two countries, and handle Taiwan-related issues carefully and properly.

The US House of Representatives passed a resolution reaffirmin

g the US commitment to Taiwan and the Taiwan Assurance Act of 2019 earlier this month.

Wang noted that China has expressed its firm opposition to the US recent negative remarks and actions related to Taiwan.

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hina plans to boost rural development via digital technologies

hina plans to promote the applications of digital technologies in rural areas to boost local development.

As a step towards rural modernization and transformation, digital rural development plays a

crucial role in rural revitalization and building a digital China, according to the guideline jointly issue

d by the general offices of the Communist Party of China Central Committee and the State Council.

The country has vowed to achieve initial development of building di

gital villages by 2020, with 4G internet accessible to more than 98 percent of the ad

ministrative villages and the digital economy growing rapidly in rural regions, the guideline said.

With the upgrading of internet technology, 2025 will see a n

otable narrowing of the urban-rural digital gap, the establishment of various ent

repreneurial and innovation centers in rural areas, and an intellectual rural logistics system.

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total of 12 cities reported month-on-month drops of reso

The Industrial and Commercial Bank of China (ICBC), China’s most valuable brand, topped Forbes’s

newly released annual ranking of the world’s top 2,000 largest public companies for the seven consecutive years.

The State-owned bank, which generated 298.7 billion yuan ($43.5 billion) in net profit last

year, has assets of more than $4 trillion and nearly half a million employees, according to Forbes.

Meanwhile, China Construction Bank, the Agricultural Bank of China and the Bank of China, renowned as the “Big Four” ba

nks in China along with ICBC, also joined the top 10, ranking at third, fourth and eighth places, respectively.

Ping An Insurance Group came in at seventh with a market capital of $220.2 billion, according to Forbes.

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ei Jianguo, a former vice-minister of commerce, said US bus

inesses and consumers will pay the cost amid hefty levies, which will eventually add significant pressure on the US economy.

The US government’s moves risk sparking a full-blown trade

war with China, and China is fully prepared for any possibility, Wei said.

Economists at Goldman Sachs said in a research note that recent data showed the costs of Washington’s tariffs on China last year

had fallen “entirely” on US businesses and households, with no clear reduction in prices charged by Chinese exporters.

The bank said that US consumer prices are higher, partly because Chinese exporters have not low

ered their prices to better compete in the US market. In addition, some US producers “op

portunistically” increased prices in response to protection from Chinese competitors, it said.

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Online English education sector records 168% growth but ch

nline English-language courses for children saw an explosive growth in 20

18, according to a report released by data-monitoring firm Trustdata on Tuesday.

The report on China’s online English education market for children s

hows that the market had more than 15 million users last year, up 168.3 percent year-on-ye

ar. It’s expected that the market size would surpass 50 billion yuan ($7.3 billion) in 2019.

The market pattern of one-on-one teaching has been gradually for

med and the top brands have secured the lion’s share of the market, as per the report.

Market size doubles in one year

The market size of online English-language education for childre

n was 21.3 billion yuan in 2018, an increase of 104 percent year-on-year, with one-on-one teaching taking

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Fertility rates, meanwhile, remain astonishingly high in

n some countries, especially in Sub-Saharan Africa. In a few of the poorest-Niger, Mali and th

e Democratic Republic of Congo-the rate is 6-7 children per woman. The resulting flood of new ent

rants to the labor market is far outstripping the number of jobs available.

Empowering women key to meeting challenge

No known growth model can accommodate or keep up with this k

ind of demographic surge. Even sustained economic growth of around 7 percent per year

won’t be enough. And although fertility tends to decline as incomes rise, that does not happen immediately. Em

powering women, therefore, may be the most effective way of starting to address the challenge.

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The collaboration aims to make areas along the initi

ative safer, more sustainable and disaster-proof, according

to the declaration published during the two-day International Conference on Silk-road Disa

ster Risk Reduction and Development, which concluded in Beijing on Sunday.

Sunday marked China’s 11th National Disaster Prevention and Reducti

on Day, an annual event which began in 2009 after a devastating earthquake hit Sich

uan and neighboring provinces on May 12, 2008, leaving over 87,000 dead or missing.

More than 700 scientists from around 40 countries, regions and international organizations supported the declaration. It reco

mmended actions including data-sharing, investing in disaster risk reduction technologies and in

frastructure, and jointly enhancing disaster preparedness and response protocols.

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China has also recently announced a strengthened reg

gime of intellectual property rights protection. Again, this is what foreign negotiat

ors are seeking, but also is important for China’s own economy as it transitions to being a technology leader.

Trade agreements can affect the types of goods being traded and they can redirect trade toward one c

ountry, away from others. They cannot directly affect any country’s worldwide current account bal

ance. A country that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gov

ernment system to encourage increased savings. China has almost nothing to do with it.

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Wu Zhongliang, director of the administration’s Institu

itute of Earthquake Forecasting, said the experimental site will help form a

“united front” at the national and international level to work on earthquake forecasting.

Referring to earthquake forecasting as a hard nut to crack, Wu said t

he work cannot see marked progress just in a few days, but forecasting capability will be imp

roved as technology develops. “If it’s a war between humans and earthquakes, it’s us that will finally win,” he said.

Paul Tapponnier, a distinguished research professor a

t the administration’s Institute of Crustal Dynamics, said he “wholeheartedly” wel

comes the project. China boasts unique conditions to carry out the experiment as most of its earthquakes oc

cur “inside the land under the feet of the people” rather than in the ocean, and there are many active faults in the country.

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US soy farmers call for cool-down of trade tensions

US soy farmers have urged Washington to work for a positive solution to the current tarif

f dispute with the world’s top oilseed buyer China, and avoid further escalation of trade tensions.

In a statement released late Tuesday, the American Soybean Association (ASA) described the t

hreat by US President Donald Trump’s administration to increase the tariff rate from 10 percent to 25 p

ercent on $200 billion worth of Chinese goods as the “worst case” for US soybean growers.

“This is a predicament for soy growers,” said Davie Stephens, ASA president and a soybean farmer from Kentucky.

“With depressed (soybean) prices and unsold stocks fo

recast to double before the 2019 harvest begins in September, we nee

d the China market reopened to US soybean exports within weeks, not months or longer,” he added.

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