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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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Health campaign targets lung diseasews the X-ray che

The National Health Commission will take steps to prevent new cas

es of a lung disease often associated with dusty occupations, a senior official said on Monday.

The campaign is “the most important and compelling work” the commission will conduct with several other ministries to curb

the development of pneumoconiosis, the commission’s vice-minister, Li Bin, said in a policy briefing.

Pneumoconiosis damages lungs and is caused by inhalation of differen

t kinds of dust. It is the No 1 occupational disease in China, mostly in the mining industry.

Pneumoconiosis accounts for about 90 percent of reported occupation

al diseases, according to the commission. And patients are getting younger.

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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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competitors. This was the policy followed by the US in the

 in the 19th century and by Western Europe, Japan, and South Korea in the years after World War II.

China is no longer a poor country. It can no longer compete by using l

ow-wage labor. Fortunately, it has now developed world-class companies that are incr

easingly developing new products and services that can compete successfully in many foreign markets.

Now that it has reached middle-income status, China’s economic strategy will focus on creating a highly competitive dom

estic market that forces companies to produce high-value goods so they can pay high wages to highly skilled people.

Because of its long experience in manufacturing, much of th

at push will be focused on higher value-added production, using the new technologies of rob

otics, artificial intelligence, the internet of things and 5G. This is the only way to avoid the middle-income trap.

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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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