Wang said the Sino-US trade talks have made important

and substantive progress thanks to efforts from both sides. Meanwhile the talks face some serious problems which need to be resolved.

The top diplomat said that as long as the negotiations meet the general direction of China’s reform an

d opening-up policy, adhere to China’s basic needs about high-quality development and serve the com

mon interests of the Chinese and US people, the negotiator teams from both sides could have the capability and w

isdom to settle their reasonable demands and eventually achieve a win-win agreement.

Wang said China insists on upholding national sovereignty, safeguarding the inter

ests of its people and defending national honor when negotiating with any country.

According to the General Administration of Customs, trade between

China and the US in the first four months stood at 1.1 trillion yuan ($160 billion).

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producers or US-based designers. For example, China ma

akes less than $9 from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.

It’s a good thing that China is no longer a low-wage country. Most Chinese are much better off than they were even 10 ye

ars ago. But it does mean that these low-skilled, labor-intensive industries will be moving to less-developed nations. US t

ariffs on such products will only serve to hasten the transition to higher value-added industries that China has to make anyway.

Roughly 20 years ago, when China’s admission to the World Trade Organiz

ation was being negotiated, China’s economy was tiny as a portion of world GDP. It was clearly a poor, less-deve

loped country that, except in a few areas, was not able to compete with Western companies in high-value-added products.

As Alexander Hamilton, the first US Treasury secretary, argued, a dev

eloping country may need to protect its “infant industries” from already established foreign

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The traditional family model of the man bringing hom

the bacon and the woman looking after the family doesn’t seem to have changed much eve

n today. As a result, Chinese mothers still shoulder most of the responsibilities of raising kids.

In the absence of fathers, mothers are more likely to pay greater attention to their kids and their

education. This could not only prevent the children from learning life skills, but also make them bur

dens for their mothers. And the greater the burden they become, the more their mothers would be stressed out.

Yet such anxiety could be easily shared by, if not transferred to, other family members. A highly emotional yet anxious moth

er is more likely to make a wrong decision about her child’s education, which in turn could have a negative imp

act not only on the child’s healthy growth but also the health of the mother and the husband-wife relationship.

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She added that Nepal sticks to the one-China policy an

 and will not allow any forces to use its territory to conduct any anti-China activities.

The two leaders witnessed the signing of bilateral cooperation documents after the meeting.

hinese tech giant Huawei reported a 149 percent rise in research and development spendin

g from 2014 to 2018, faster than its counterparts Apple and Samsung, according to a Bloomberg report released last Friday.

The company’s R&D expenditure increase was just behind Amazon, which rose 210 percent during the 5-year period.

China is now Nepal’s biggest source of foreign investment

, second-largest trade partner and second-largest source of foreign tourists.

Ahead of the First Belt and Road Forum for International Coopera

tion, China and Nepal signed a memorandum on Belt and Road cooperation in May 2017.

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Govt plans slew of policies to boost consumption

A slew of new policies aimed at encouraging consumption

in key sectors will be unveiled soon, China Securities Journal reported.

China’s retail sales of consumer goods rose 8.3 pe

rcent year-on-year to 9.78 trillion yuan ($1.46 trillion) in the January-M

arch period, according to the National Bureau of Statistics (NBS). In March alone, retail sales went up 8.7 pe

rcent to 3.17 trillion yuan, quickening from the 8.2-percent rise seen in the first two months.

In recent years, the government has, on the one hand, frequently intro

duced policies to promote opening-up, increase import and improve consumer welfare. On

the other hand, it has reduced and scrapped import tariffs on some consumer goo

ds. This has played an active role in consumption, Lian Ping, chief economist at Bank of Comm

unication said, adding that consumption still is the key driver for economic growth.

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Unlike the second version, the latest one included rule

on the new science and technology innovation board, which will pilot the registration-based IPO system, according to Xinhua.

To accommodate the progress of reforms and development of the capital market, other modifications have also been made, cov

ering public issuance of securities, securities trading, and the protection of investors’ rights and interests, Xinhua said.

Dong expects the latest version to legitimize registration-based IPO systems not only

on the new board, but also across China’s whole A-share market. “Once the system achieves success on the n

ew board, it should be adopted on other submarkets as soon as possible,” Dong said.

President Xi Jinping announced in November that China will launch the S&T innovation board and pilot the registr

ation-based IPO system. Analysts expect the new board to begin trading around the middle of this year.

“The latest draft is expected to make comprehensive revisions, and it could go a long way

toward restoring public investors’ confidence and modernizing the regulation and governance of the ca

pital market,” said Liu Junhai, director of the Business Law Center at Renmin University of China.

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Tu Liangcheng, one of the leading scientists of the Tia

nqin project, said that the project has been going smoothly.

“So far nearly 200 Chinese scientists from more than 30 dome

stic research institutions and universities and about 30 researchers from at l

east eight other countries-including Russia, Italy, Germany and France-have participated in the pr

oject,” said Tu, who is also director of the gravitation center at the Wuhan university.

Shen Zhiqiang, head of the Chinese Academy of Sciences’ Shanghai Astronomical Observatory, and a membe

r of the EHT team, said the success of the first black hole image has encouraged Chinese scientists to engage in mo

re international collaboration and boost the country’s ability in studying deep space.

Chinese scientists participated in Hawaii and Spain in the observations

that yielded the black hole image. They were highly involved in follow-up data analysis and th

eoretical explanation throughout the two years that followed the five-day observations in April 2017.

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On the China-CEEC leaders’ meeting, Chen said the

mechanism has made good achievements in economic cooperation over the past several years, including freight trains running between C

hina and Europe. The mechanism should continue focusing on concrete projects in infrastructure and other key areas, she said.

People-to-people exchanges, including education and tourism, should also be stren

gthened to improve mutual understanding between their people, Chen added.

China will take key measures in a new push to improve its cities through boosting the urban pop

ulation and bolstering the nation’s high-quality and stable economic growth, the country’s top economic planner said.

Measures include relaxing residency curbs, promoting investmen

t and financing mechanisms and increasing infrastructure spending in cities.

The National Development and Reform Commission issued on Monday key tasks for 2019’s new urbanizatio

n boost, which will help maintain the country’s sustainable and healthy economic growth and overall social stability.

China aims to increase the urbanization rate by at least 1 percentage point by the end of this year, accordi

ng to a document posted on the NDRC’s website. The proportion of urban population to total population reached 59.58 percent in 2018.

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They are both staunch supporters of free trade and mul

ultilateralism, and with the United States increasingly opting for unilateralism in international affairs, China and the EU can str

engthen their coordination within the framework of the United Nations and buttress the role of multilateral mecha

nisms including the World Trade Organization and the International Monetary Fund.

Beijing and Brussels are also two important voices advocating internati

onal efforts to combat climate change and promote sustainable development.

It is hoped that the leaders attending the China-EU Summit in Brussels will send positive signals that the two sides are commi

tted to deepening their strategic and reciprocal cooperation. By strengthening their consensus and solida

rity, they can boost confidence that they will work together to address shared and global challenges.

chinacctm.cn

He said the European equivalent of the US agency deleg

gates more authority to a manufacturer’s employees when certifying the safety of Airbus.

Elwell said the FAA conducts strict oversight of all manufacturers.

Senator Ed Markey demanded a “yes” or “no” answer from Elwell on whether two safety options that airlines could decline to bu

y should have been mandatory on the Max aircraft. Elwell declined to answer with a single word.

Some airlines chose to purchase the “angle of attack” system display for readi

ngs of two sensors and a “disagree light” to be activated if the sensors produce conflictin

g readings while others did not. Ethiopian Airlines and Lion Air reportedly declined to buy the two add-on safety devices.

Scovel, inspector general of the Transportation Departme

nt, said his office plans to revise its oversight of aircraft development by July.

www.huawaii.cn