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tinue to purchase China-made goods if there are no substitut

Research released by the International Monetary Fund on Friday showed that some of these tariffs hav

e been passed on to US consumers, while others have been absorbed by importers leading to lower profit margins.

US restrictions on high-tech exports to China will push up Washington’s trade deficit with China, an

d rising prices could also reverse the low inflation in the US. Meanwhile, any speculative trading on the

Chinese currency amid its depreciation pressure will “inevitably suffer from a huge loss”, Guo said in his speech.

To eliminate bad outcomes from trade tensions, further opening-up in China’s services sec

tor, together with high-tech development supported by artificial intelligence, will help lift Chinese eco

nomic growth from 6.3 percent to around 7 percent by 2035, said Zhu Min, a former deputy managing director at the IMF.

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Huawei has more than 13,000 component and service su

uppliers worldwide. In November, it unveiled a list of its 92 core suppliers for the first ti

me. Thirty-three of them are from the US, including chip giants Qualcomm Inc and Intel Corp.

Wang Yanhui, secretary-general of the Mobile China Alliance, said, “Huawei has also been pre

paring for such a situation for some time and has hoarded chips to handle a worst-case scenario.”

The company became the world’s third-largest buyer of semiconductors last year.

China will definitely safeguard the legitimate rights and interests of its businesses, and Trump’s executive order is n

ot a “constructive and friendly” gesture, Foreign Ministry spokesman Lu Kang said on Thursday.

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With its key role in the national economy, the integrated dev

velopment of the region could play a vital part in leading regional growth, the statement said.

It noted that the elevation of the integrated development of the Yangtze River Delta t

o the status of a national strategy is a major decision adopted by the CPC Central Committee.

Authorities in the four provincial areas must enhance their awareness

of integrated development and boost their interaction and cooperation, it added.

The meeting also decided to start a thematic education campaign of Party member

s on the subject of remaining true to the Party’s original aspirations and keeping their mission firmly in mind.

It called for struggles against all problems that affect the Party’s purity and ad

vanced nature, and for efforts to make the Party even stronger, the statement said.

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According to the office, more than 100 social ins

titutions, companies and colleges in Beijing, including the Beijing sub-council of the China Council for the Promotion of Inte

rnational Trade, Beijing Enterprises Group Real-Estate Co and the Beijing Forestry University have participated in nong

overnmental exchange projects in countries such as Cambodia, Mongolia, Myanmar and Nepal.

Generally, those Belt and Road projects involve such fields as business cooperation, cultura

l exchanges, protection of women and children, charity, environmental protection and responses to natural disasters.

In 2018, Beijing and Phnom Penh, Cambodia, became sister cities.

Beijing Enterprises Group has been working on a Sino-Camb

odian special economic zone which is planned to be built as a new industrial city.

Qian Xu, president of the group’s Real-Estate Co, which is in charge of the project, said the company has completed the

regulatory planning process for the special economic zone and will start on infrastructure construction soon.

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The Belt and Road Initiative aims to build the Silk R

oad Economic Belt and the 21st Century Maritime Silk Road and deliver policies, infrastructu

re, trade, financial and people-to-people connectivity via a new platform for a brighter future.

Tesla Inc lost $700 million in the first quarter but predicted it wou

ld return to profit in the third quarter as it cuts costs an

d improves delivery after facing issues ramping up shipments outside the United States.

Shares of Tesla were about flat after the results, which came more than an hour afte

r they were expected and after a sales contraction in the quarter raised investor concerns.

The company, which many analysts predict will need to raise

funds for its expansion, said it ended its first quarter wi

th $2.2 billion in cash after paying off a $920 million convertible bond obligation in March.

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His company also works with Universal Music Grou

up China to market vinyls for pop stars such as Jacky Cheung, Karen Mok and Faye Wong, aiming to popularize vinyls among young Chinese buyers.

Turntables are designed to appeal to a contemporary lifestyle that is simple and sustainable, Lin says.

His company opened a vinyl store, called 33-rpm, in Shenzhen on March 21

, and he has ambitious plans to have outlets in about 200 Chinese cities within the next two years.

“When you look at convenience, portability, and all those things,

vinyl doesn’t make sense,” he says. “But it is rooted in a passion or love for music. Some people

buy vinyls but they don’t necessarily listen to them. They’re collecting these things like works of art.”

A total of 700 Chinese sturgeons were released on Saturd

ay into the country’s longest river, the Yangtze River, to save the species from extinction.

The 700 captive-bred sturgeons, nicknamed “aquatic pan

das,” were released in the city of Yichang, Central China’s Hubei province, by the

Chinese Sturgeon Research Institute (CSRI) of the China Three Gorges Corporation.

The sturgeons released into the river will help boost the endangered species’ survival rate in the wild and en

hance their generic diversity, said Li Zhiyuan, deputy director of CSRI.Chinese sturgeons released into China’s longest river

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Lu said JD’s individual parcel pickup business is main

ly concentrated in first and second-tier cities. “JD has missed the good opportunity to expand its third-party logisti

cs business, and there is little room for growth owing to the fierce competition in the segment.”

In October, JD launched parcel delivery services for individuals in 17

cities including Beijing, Shanghai, Guangzhou and Shenzhen, and later extended it to 31 citie

s. In order to use the service, customers would ask for a pickup through the firm’s app.

Yang Daqing, a researcher at the China Society of Logistics, said such adjustm

ent will bring about some negative effects in the short term, but if JD Logistics ha

ndles the issue properly, it will become more competitive after the transformation.

Apart from the salary cut for the delivery unit, JD is seeing a r

ound of shake-ups on its management team. Following recent resignations of its chief technology of

ficer Zhang Chen and chief legal officer Long Yu, the tech giant announced last week that L

am. Following recent resignations of its chief technology officer Zhang C

hen and chief legal officer Long Yu, the tech giant announced last week that L

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Revenues of China’s Internet companies up in Jan-Feb

China’s Internet companies saw combined revenues up 10 percent to 149.8

billion yuan ($22.34 billion) in the first two months of this year.

The pace was down by 10.4 percentage points from the same perio

d of last year, according to the Ministry of Industry and Information Technology.

Profits of Internet companies tracked by the ministry also expanded.

The companies spent 6.06 billion yuan into research and development, up 11.5 percent year on year.

Companies in East China saw revenues up 9.5 percent to 117.6 billion yuan, while those in Ce

ntral and western regions reported revenue growth of 19.4 percent and 18.6 percent respectively.

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Liu Junhai, a business law professor at Renmin Uni

versity of China, said short-term rental websites can help promote optimal utilization of existing resources like rental housing.

“The market is not mature yet. The quality of management shou

d be improved. Online platforms need to strengthen their self-discipline,” said Liu.

Chinese investors earned a record high place in Forbes’ latest list of the top 100 venture capitalists as the nation’s invest

ors are gradually changing the global venture capital market dominated by Silicon Valley.

According to the annual Midas List of Forbes Magazine, 21 Chinese investors made it into the to

p 100 venture capitalists globally, which broke the previous record of 17 domestic investors last year.

Four Chinese investors rank among the top 10 this year with Shen Nanpeng, founding and managing partner of Seq

uoia Capital China, remaining at the top of the ranking for the second consecutive year.

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The fire broke out in a mountainous area on the northe

thern outskirts of Beijing around noon Saturday, according to the Ministry of Emergency Management.

The blaze started on a mountain in Miyun District at around 12:23 pm and spread to Pinggu District at about 1 pm due to strong winds.

The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 50.5 in Ma

rch, up from 49.2 in February, the National Bureau of Statistics (NBS) said Sunday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

NBS senior statistician Zhao Qinghe attributed the monthly increase in the manufacturing PMI to accelerated produ

ction activities and improved domestic demand boosted by government supporting policies, including tax and fee cuts.

Emergency response was activated immediately after the fire broke out, and th

e fire in Miyun was largely put out Saturday afternoon, with no casualties reported.

A preliminary investigation by local police shows the fire was caused by six villagers repairing water pipes in the forest.

Local government took immediate action under its emerg

ency response mechanism and the six suspects are under control now.

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