then to 0.20, together with the inclusion of Mid Cap China

 A shares, in the final step as part of the November 2019 Semi-Annual Index Review, according to the report.

About 109 companies will be added and three removed from the MSCI China A Onshore Index, whic

h will take place as of the close of May 28, and the three largest additions to this index would be the

Wens Foodstuff Group A, Contemporary A and Shenzhen Mindray A, the MSCI said.

In addition, the MSCI China A Onshore Small Cap Index will see 503 stocks added and 49 cut, with most of the new addi

tions coming from newly eligible ChiNext stocks, according to an official statement of MSCI.

MSCI also updated the list of China A Mid Cap securities that may potentially be adde

d to the MSCI China and the MSCI Emerging Markets Indexes as part of the third step of th

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The Information Technology Industry Council also w

arned against further raising tariffs. “Increasing tariffs will only continue to harm America

n consumers and businesses of all sizes and across all sectors, as well as threat en American econ

omic growth and leadership in innovation,” said Naomi Wilson, the council’s senior director of policy for Asia.

US chemical manufacturers also called for sensible trade policy solutions.

Cal Dooley, president and CEO of the American Chemistry Council, said on Monday he believed t

he risks of continuing to use tariffs as a negotiating tactic with China are simply too high, and potential benefits remain unclear.

Several organizations, including Tariffs Hurt the Heartland — the national campaign compose

d of more than 150 of the largest US trade organizations in retail, technology, manufacturing and agric

ulture — have in recent days highlighted the negative impact of tariff increases on the US economy and job market.

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Core technologies to better drive digital shiftShijia and Hu

More efforts are needed to make breakthroughs in core technologies, advance infor

mation infrastructure construction and provide further impetus to the digital transformation of ind

ustries, said a senior official at the Second Digital China Summit, which opened in Fuzhou, Fujian province, on Monday.

Huang Kunming, a member of the Political Bureau of the Communist Party of China Central Committee and head of the Pu

blicity Department of the CPC Central Committee, called for more work to accelerate the research and de

velopment of 5G, as well as promote the building and application of the Beidou Navigation Satellite System.

Huang said achieving breakthroughs in core technologies should be the top pri

ority, with innovation fully pursued and intellectual property rights better protected.

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hina, International Pavilion big expo drawsing distr

As landmarks of the International Horticultural Exhibition 2019 Beijing China, the China Pavilion and the Inter

national Pavilion are attracting large numbers of visitors thanks to their unique designs and functions.

Covering an area of 5 square kilometers, the expo is being held in the capital’s Yanqing district.

Following the ancient wisdom of the Chinese people, the China Pavilion takes the shape of a green b

uilding that can “breathe” and has “life”, as described on the exhibition’s official website.

Core portions of the pavilion are composed of terraced fields. Fun

ctions of both irrigation and insulation are at play, and th

e fields help reduce energy consumption of the building while also offering heating or cooling functions.

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Xi added that the two countries should jointly prom

mote the building of the Asia-Pacific free trade zone and maintain the multilateral trading system.

He said China and Latin American countries should support each other, make full use

of their complementary advantages and achieve win-win cooperation. The two sides should pursue comm

on development and jointly build a community with a shared future for China and Latin America, Xi added.

The Chilean president said the Belt and Road Initiative, put forward by Xi, has show

n the glorious history of the ancient Silk Road and promoted exchanges between different cultures in the new era.

Chile supports the building of the Belt and Road, and it hopes t

o learn from China’s experience in innovative and green development, he said.

Pinera said Chile, which is dedicated to maintaining multilateralism and the multilateral t

rading system, would like to enhance coordination with China on regional and multilateral affairs.

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He said that from a long-term perspective, populat

ion determines economic growth. Even though it will take some time, the large number of people i

n BRI-related economies will ultimately prove the potential for economic development in those countries.

Ma Yu, a researcher at the Chinese Academy of International Trade and Economic Cooperatio

n, said the BRI provides a new impetus for the recovery of the world economy. The improvement in infra

structure, and digital-related manufacturing brought by the BRI will restore the development capacity of the worl

d economy and bring new opportunities for the partnership between Chinese and local companies.

Also on Monday, the Office of the Leading Group for Promoting the Belt and Road Initiative

released an official report on the development, achievements and prospects of the BRI.

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Amazon to end local 3rd-party sales in Chinaon offices in Ne

US-based tech giant Amazon.com Inc plans to shut down its third-party seller services on its Chinese online marketplace

in July, as it shifts its focus to offering Chinese mainland consumers overseas products rather than goods from local sellers.

Starting July 18, customers logging in to Amazon’s Chinese web portal will only see a selec

tion of goods from its global store, rather than products from local third-party sellers.

Amazon said it will keep running its other businesses in China, inclu

ding the cross-border shopping business Amazon Global Store; Global Selling, which helps Chin

ese merchants sell products abroad; its cloud service platform Amazon Web Services; and Kindle e-book devices and content.

“Over the past few years, we have been evolving our China online retail business to increasingly

emphasize cross-border sales, and in return we’ve seen a very strong response from Chinese customers.

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From January to March, government tax income inc

creased by 5.4 percent year-on-year, 11.9 percentage points lower than that in the first quarter 2018.

Individual income tax decreased by 29.7 percent, the largest drop among three major tax item

s. Value-added tax growth has already slowed to 10.7 percent, down from 20.1 percent a year earlier.

Local government income from land sales fell 9.5 percent in the first three months, the Ministry of Finance said.

As the central bank has taken a pause in monetary easing, fiscal policy should remain pro

active to stabilize economic growth and ensure the recent rebound is not just a seasonal fluke, said economists.

Xu Xianchun, a former deputy director at the National Bureau of Statist

ics, said that fiscal policy should be implemented “with proper intensity and at the right time”, t

o prevent large fluctuations in the investment growth rate and negative impact on economic stability.

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Index results bode well for quarterly GDPprise mark

hina’s economic growth will remain stable in the first quarter, and is expected to land at 6.3 percent or even higher year-on-year when it is released this week, e

conomists said after some economic indicators for March surprised the market on the upside.

“Downside pressure began to ease in the first quarter, as signaled by the r

ather substantial recovery in various economic indicators in March,” said Yao Jingyuan, form

er chief economist at the National Bureau of Statistics and a researcher for the Counselors’ Office of the State Council.

Chinese banks’ lending in yuan, a leading indicator for the real economy

, surged in March by 1.69 trillion yuan ($252 billion), up 52 percent from a year earli

er, according to the People’s Bank of China, the central bank. The manufacturing purchasing managers inde

x for March, which was back into expansion territory, may be a sign of accelerating industrial activities.

Exports in March also picked up, rising 14.2 percent in US dollar ter

ms from a year ago, versus 0.1 percent for the January-February period, customs data showed.

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hina to ease permanent residency requirements in lar

China said Monday it will ease the requirements for permanent residency in many large cities as part of its new urbanization push.

Restrictions on permanent residence permits should be scrapped in cities with populatio

ns between 1 million and 3 million, according to a document outlining key urbanization tasks this year release

d by the National Development and Reform Commission, the country’s top economic planner.

For cities with populations of 3 million to 5 million, the qualifications for such permits should be “fully relaxed,” and the restrictions

for certain key groups of people to get such permits should be removed, the document said.

Previously, the country has already gradually abolished permanent residency restrictions in

small and medium-sized cities and towns with populations below 1 million.

The NDRC document also demanded cities with populations above 5

million to improve their policies and drastically expand the scale of permanent residency.

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