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Shanghai strengthens 亚博平台娱乐千花网tionsuangzhou’s Tianhe a

Making use of Guangdong-Hong Kong-Macao Greater Bay Area to become a hub

With its modern industrial system, Tianhe district in Guangzhou, South China’s Guangdong province, is seizing the oppo亚博平台娱乐千花网品茶微信

rtunities brought about by the construction of the Guangdong-Hong Kong-Macao Greater Bay Area to become an

international first-class central business district, an international core area for innovation in science and t

亚博平台娱乐千花网echnology, and a demonstration zone for Guangdong-Hong Kong-Macao cooperation.

Its solid industrial foundation and favorable business environment, as well as the gove

rnment’s strong policy support, attract large numbers of enterprises to the district.亚博平台娱乐千花网品茶微信

By the end of November, 162 out of the Fortune Global 500 enterprises had invested in 228 proj

亚博平台娱乐千花网ects in finance, science and technology, trade and commercial services in Tianhe. It is the city

‘s center for headquarters, with 104, or 29 percent of the total across Guangzhou, making Tianhe’s business dis

trict one of the three largest world-class central business districts in China. Among these, 95 percent of the h亚博平台娱乐千花网

eadquarters in Tianhe are in the service sector and 25 headquarters are foreign-funded ventures.

亚博平台娱乐千花网In the first three quarters of 2017, Tianhe’s GDP hit 304 billion yuan ($46 billion), up 9.5 percen

t year-on-year. Its GDP has been the highest among all the districts in Guangzhou for 10 years consecutively.

More importantly, experts said innovation, high-tech and service亚博平台娱乐千花网

sectors have become the driving force of the district’s economic growth. The district go

亚博平台娱乐千花网品茶微信vernment focuses more on quality rather than quantity when it comes to the economy.

With 53 innovation platforms and 51 startup incubators above city level, the district government is carrying out what it c

alls its “super incubator” strategy. It is making use of old industrial parks, factory workshops and public sites co亚博平台娱乐千花网品茶微信

llectively owned by villagers to provide a platform for startups and to foster local economic growth. So far, Tianhe has cr

eated 29 of this kind of incubators for startups and innovation, covering a total area of 1.11 million square meters. The di

strict is also implementing a convenient “five-in-one” new business registration system.亚博平台娱乐千花网品茶微信

As a center of finance and technology industries, Tianhe has 215 registered financial agencie

s and 33 enterprises listed on the stock market. It boasts 378 research and development institutes set u

p by enterprises, 86 institutes affiliated to universities and governments, and 239 engineering technology research centers.亚博平台娱乐千花网品茶微信

Last year, 4,312 patent applications were submitted in Tianhe, 32 percent

of the city’s total and a rise of 45 percent year-on-year. Among these 1,158 patents were granted.

By the end of last year, Tianhe had 1,403 high and new-technology ent

erprises, as well as more than 50,000 science and technology enterprises.

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Liu Xiangdong, a rese亚博平台娱乐千花网the China Center for Int

ternational Economic Exchanges, said besides the policies launched to further stimulate c

亚博平台娱乐千花网onsumption upgrade, the authorities needed to regulate the consumption environment in elderly car

e, healthcare and information while easing market entry in the healthcare, education and elderly care industries.

亚博平台娱乐千花网Foreign companies are also showing a positive attitude toward the Chinese market.

“The implementation of more opening-up policies in the field of consumption is contributing to the shift of China’s econom

ic growth model from investment orientation to consumption orientation, which is more sustainable,” said St亚博平台娱乐千花网品茶微信

phane Rinderknech, CEO of L’Oreal China, one of the world’s leading beauty products makers.

“Today, we are more confident than ever in developing and seizing opp亚博平台娱乐千花网

ortunities in China. With a continuously improving business environment, consumers’ trust and

our great China dream team, we are confident in making China the number one market for L’Oreal Group in the near fut

亚博平台娱乐千花网品茶微信ure,” he said. “We hope the joint efforts between the Chinese government an

d companies will further stimulate China’s domestic consumption and benefit consumers.”

Faced with trade friction with the United States, experts believe consumption will play a major

role in offsetting the negative impact on trade and putting economic growth on a firm footing.亚博平台娱乐千花网品茶微信

“China is a market with a population of 1.4 billion and 400 million middle-income earners, and there is a strong dem

and for consumption upgrade,” said Wang Bin, an official at the Ministry of Commerce. “The domestic consumption ma

rket is full of potential and it is China’s biggest advantage to maintain long-term stable development.”

Rural areas offer more consumption potential, according to experts.

“The country’s exports in the first five months (of 2019) had been increasing but at a slower pace… in the future, the trade surp

lus will inevitably narrow,” said Xu Hongcai, deputy chief economist at the China Center for International Economic E

xchanges, arguing that the degree of dependence on foreign trade will decrease.

He said the country needed to turn to domestic demand to power ec

onomic growth, and the country’s ongoing urbanization offered large potential.

www.shangzili.cn

Road, is now furthe亚博平台娱乐千花网品茶微信to the ancient Silk

rch center at t亚博平台娱乐千花网品茶微信he administration, the Center of Sh

anghai International Film and TV Festival and the audiovisual communication research ce亚博平台娱乐千花网

nter at Peking University, about 1,500 films were screened exclusively online in 2018, a drop from 2,400 in 2016.

The drop is partly a result of the rising budgets for online movies, which as the survey also shows, have gr

own a hundredfold, surging from several hundred thousand yuan in 2015 to tens of millions of yuan in 2018.亚博平台娱乐千花网品茶微信

“We hope to see the quality of films continue to improve as more budget is alloca

ted to such projects,” says Lu Di, director of the research center at Peking University.亚博平台娱乐千花网

Ma Zhongjun, founder of Shanghai-based Ciwen Media and a Chinese pla

ywright, stated at the summit that some key elements of quality online works are inn

ovation, either in characters or plots, and a smooth and rigorous film production process ranging from the choic

亚博平台娱乐千花网品茶微信Before this year’s parliamentary elections, political groups in the parliament na

ed their lead candidates for the President of the European Commission, and they campaigned ac

ross the EU. But none of them was nominated to the most important EU position on Tuesday.

Iratxe Garcia, who leads the Socialists and Democrats bloc in the European Parliament, and Terry Reintke, deputy lea亚博平台娱乐千花网品茶微信

der of the parliament’s Greens group, both voiced their disappointment in the nomination.

Jean-Claude Juncker, current President of the European Commission, agreed Tuesday’s nomination wouldn’t be easy in the Parliament.

However, according to German Chancellor Angela Merkel, von der Leyen faced no亚博平台娱乐千花网品茶微信

opposition in the European Council, made up by leaders of the EU’s 28 member states.

“After all, Europe is a woman,” said Donald Tusk, current President of the European Council who chairs the leaders’ meeting.

www.weishow.com.cn

In the 1950s, the Amer 亚博平台娱乐千花网try was seen as the

e prototype of how business should be run. Car company executives were seen as the most capable manage

?亚博平台娱乐千花网品茶微信rs. In 1953, president Eisenhower chose Charles Wilson, known as “engine Charlie,” to be his Secretary of Defense.

Then, in 1961, president Kennedy chose Ford president Robert McNamara for the same position. (Of course, McNamara’s incredible mismanagement of the war in Vietnam reduced any confidence that car company executives were especially competent.)

By the late 1960s, the “big three “car companies in the US – General Motors, Ford, and Chrysler – formed a virtual oligopoly and turned lazy.?亚博平台娱乐千花网

I remember American cars my father bought in these years often overheating and breaking down by the side of the road. Dad would have to stay by the car with my m

other and sisters while I walked a long way to find a service station and arrange a tow. (This was long before mobile phones.)?亚博平台娱乐千花网品茶微信

So, American consumers were ready for more competitive Japanese-made cars, which had consistently high

er quality, to enter the market. My father switched to Japanese cars in the 1970s, and never bought another American-made car.?亚博平台娱乐千花网

American car companies saw their profits fall and were not able to pay their workers t

he very high wages made possible by a closed, non-competitive market. The US government responded by

?亚博平台娱乐千花网品茶微信imposing quotas on the import of Japanese cars and by pushing Japan to rapidly raise the value of the yen.

Obviously, there was a conflict. American consumers benefitted from the cheaper, better cars while workers at the big three saw their jobs become less secure and the

ir wages fall. Fortunately, the protection was only partial and temporary, so the competition eventually forced US carmakers to improve.

Competition is at the heart of the current disputes over globalization and technology. On net, the spread of econo?亚博平台娱乐千花网品茶微信

mic opportunities around the world has been a great boon. Many products are more widely and cheaply available than ever before.

Many countries, including China and India, have greatly reduced poverty and given opportunities to their people that would have been undreamed of by earlier ge?亚博平台娱乐千花网

nerations. American and Western European companies and consumers have greatly benefitted.

But nobody really likes competition against themselves. Most people like some degree of stability and protection. A worker w

ho has put in 20 or 30 years in an industry will definitely feel that it is unfair to have to move to a much lower-pa

ying service job. A company facing new competitors will try to convince its home government to stop the competition.

Americans saw many benefits from the second globalization period. As Japanese and, later Chinese, manufacturers began to export t

o the US, many consumer goods became a lot cheaper in US stores. Many American companies made good profits by exporting t

o the newly open markets or by outsourcing manufacturing to cheaper and/or better factories outside the US.

www.zaojiaowg.com

The government of the 亚博平台娱乐千花网品茶微信 Special Admi

inistrative Regio亚博平台娱乐千花网品茶微信n’s decision to suspend legislation on proposed amendment

s to the city’s extradition laws received wide support and understanding from various sectors, as it i

s believed this move will help allay social disputes and ensure the city’s long-term stability and prosperity.

On Saturday, the region’s Chief Executive Carrie Lam Cheng Yuet-ngor announced the decision to restore c

alm and order in society after concerns, doubts and even conflicts were seen over the amendments.

The suspension would allow the government to further communication with all sectors o

f society, better explain the proposed legislation and listen to different views on the matter, Lam said.

The decision received support from central government bodies including the Hong Kong and Macao Affairs Office of the St

ate Council, the Foreign Ministry and the Liaison Office of the Central People’s Government in the HKSAR.

shlf15.com

decline from 85 million in 2018 to 42 million in 2040. In th

he next five to seven years, China’s policy support for new energy vehicles will drive g

lobal growth,” said Kou Nannan, head of research at Bloomberg New Energy Finance.

As early as in 2012, the State Council introduced a pipeline to guide the development of the natio

n’s EVs, with a goal of producing 2 million units and selling 5 million EVs by 2020. Later on, cent

ral and local governments carried out a series of subsidy policies in the NEV industry, such as purchase tax exemption an

d purchase subsidies, to offer greater support to the industrialization of China’s NEV industry.

According to the agency, China will specifically lead in the e-bus market. It is estimated that by

2025, China’s e-bus fleet share will reach 50 percent, and by 2040, the ratio will rise to roughly 80 percent.

www.euitdm.cn

hina to remain steadfast protecting national security

First, China has undisputable sovereignty over islands and their surrounding waters in the South China Sea, backed by a wealth of historical and legal basis,” Shao said.

For a long period of time, various nations’ normal passage and flight in the region have never been obstructed. “There i

s no issue over the freedom of navigation and overflight in the South China Sea,” he said.

However, the US has frequently sent vessels and aircraft to trespass into Chinese mar

itime territory and airspace, and has conducted intense intelligence gathering and special drills in the region.

“These actions damage the peace and security of the region,” Shao said. “As a result, the PLA

has installed necessary defense equipment on the islands in accordance with security needs. This is within

the natural rights of a sovereign state, and a necessary measure to counter those provocative actions.”

www.ixhhw.cn

As for global GDP, manufacturing employment and

trade, they could decline by 0.134 percent, 0.323 percent and 0.869 percent. Th

e US tariff hikes therefore will increase the economic pain of the US and world economies.

Agricultural products, chemicals and chemical products, textiles and g

arments are the main US items targeted by China’s higher tariffs. But despite the higher tar

iffs providing some protection for domestic industries, Chinese consumers might have to pay more to purchase them.

In the first four months of this year, the volume of Sino-US trade dropped by 15.7 percent to $161.23 billion. In terms of product

structure, US exports of raw materials and foods to China saw the biggest decline, among which the export of so

ybeans plummeted by half in March compared with the same period last year. And US exports of plant products, mi

nerals, jewelry and precious metals declined by more than 85 percent in the first quarter.

fywmgz.cn

The capital issued blue alert for strong winds on Sunda

with five suburban districts of Tongzhou, Yanqing, Changping, Huairou and Shunyi upgrading it to yello

w alert later. These areas were hit with strong winds as high as 8-9 grades, with gales reaching 10 grade

at some places. According to forecast, the wind could still be as high as 7-8 grades on Monday.

The gale toppled a wall near Dongzhimen Bridge in downtown Beijing, hitting three pedestrians,

two males and one female. Two of them died at the scene and one at hospital, Dongcheng District said via Sina Weibo.

Food delivery service Meituan said one of its deliverymen was hit and killed by a fallen tree when delivering food.

The speed of wind reached 10-15 meters per second at the Capital International Airport starting from 10 a

m Sunday, with gales as fast as 20-25 meters per second, the airport said. Due to the strong wind, th

e operational ability of the airport dropped and remained low until 7 pm Sunday.

51kuban.com.cn

True, the first quarter of 2019 yielded better-than-expe

ted results. But the higher rate of FAI growth was to a large extent driven by a strong increase in investment in real estate, which is l

ikely to weaken sooner or later owing to the government’s commitment to cooling China’s “real-esta

te fever”. And, given the trade frictions with the US, China’s export performance for the rest of 2019 is highly uncertain.

To compensate for declining investment in real estate and weakening exports, China must maintain reasonable growth in inf

rastructure investment. To that end, the government should pursue higher spending (taking advantage of a strong fis

cal position), supported by accommodative monetary policy (amid very low inflation).

Fiscal and monetary expansion may be out of fashion among China’s mainstream economists, who insist that struct

ural adjustment must be the priority. But it could go a long way toward bolstering China’s economic per

formance in 2019, without impeding structural reform. The challenge is to strike the right balance.

weishow.com.cn

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