Renminbi to remain stable, regulator saysknotes at a ba

Central bank vice-governor voices confidence amid currency volatility

The monetary authority vowed to stabilize the renminbi amid escala

ted trade tensions, while continuing to push forward financial opening-up and pr

otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.

“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma

rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi

ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.

Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do

llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h

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market confidence in outstanding ways and promoted the stab

le growth of the economy, he said, adding that the positive factors for economic growth are increasing.

Noting that the uncertainties in the global economic environment are also rising and there remai

n downward pressures on the domestic economy, Li called for both attention and confidence from the entrepreneurs.

Related departments should follow the guidance of Xi Jinping Though

t on Socialism with Chinese Characteristics for a New Era, invigorate the market thro

ugh deepening reform and opening-up and ensure the stable growth of the economy, Li said.

He said that tax reduction is the key to improving the business environm

ent and invigorating the market, which will not only stabilize growth and employment bu

t also encourage companies to invest more in innovation for long-term development.

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ommunication key to shared future for mankind

China has made various moves recently to expand the new round of reform and opening-up — such as the approval of the For

eign Investment Law in March and further facilitating trade connectivity under the Belt and Road Initiative. It will con

tinue opening its market in a proactive, steady and orderly manner, in accordance with its own development need

s and its own pace and timetable, to benefit Chinese and global consumers across the world, said Tu Xinquan, a pr

ofessor of international trade at the University of International Business and Economics in Beijing.

James Collins, CEO of Corteva Agriscience, the agricultural division of US-

based DowDuPont, said he hopes the two countries will reach a positive resolution, to benefit both countries and the r

est of the world. Collins said his firm was “not so much affected” in the short term by China-US trade tensions.

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Even if they express harsh or partial criticism, we shoul

ld correct our mistakes when we have made any and guard against them when we have not.

The Party should address young people’s concerns in employment,

starting business, integrating into the society, love, marriage and making friends, carin

g for the elderly and raising children, so as to create favorable conditions for their development.

We should educate and guide young people to view the world pr

operly, to understand the national conditions comprehensively, and to grasp the trend of the era.

Communist Youth League asked to mobilize youth for Chinese Dream

The Communist Youth League of China (CYLC) shall unite and lead Chi

nese youth of the new era to strive for the Chinese Dream of national rejuvenation.

The CYLC should serve their duties of guiding and uniting the youth, mobilizing them, connecting them and providing services.

Youth urged to have concerns for humanityThe Chinese youth should work for the building of a community with a shared future for humanity.

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China to support 5,000 people for BRI innovation excha

China will support 5,000 people from innovation sector in Belt and Road countries i

n conducting exchanges, training programs and joint researches in the next five years.

Sustainable development under BRI stressed

China will work with other parties to promote a coalition of sustainab

le cities and an international coalition for green development under the Belt and Road Initiative.

China to invite 10,000 representatives of political parties, think tanks, NGOs from B&R countries

A total of 10,000 representatives of political parties, think ta

nks and non-governmental organizations from count

ries participating in the Belt and Road Initiative will be invited to China for exchanges in the next five years.

China to allow foreign businesses in more sectors with controlling or full stake

China will allow foreign investors to operate businesses in more sec

tors with controlling or full stake. China will roll out a new batch of pilot free trade zones.

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The two countries should take the opportunity to join

intly build the Belt and Road, deepen mutual political trust and pragmatic cooperation and pr

omote the development of the China-Chile comprehensive strategic partnership to a higher level, Xi said.

The two countries should promote the upgrading of bilateral tra

de and investment and enhance cooperation in such areas as minerals, clean energy, infor

mation technology, e-commerce, innovation and scientific research on the Antarctic, he said.

Xi called on the two countries to make joint efforts to celebrate the 50th anni

versary of China-Chile diplomatic ties next year and promote people-to-people exchanges.

China supports Chile’s hosting of the United Nations climate change confere

nce and the Asia-Pacific Economic Cooperation economic leaders’ meeting this year, Xi said.

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As a prominent expert on China-US studies for decade

 Zhu also was twice denied single-entry visas to the US.

“This shows how the US is trying to block normal social exchanges bet

ween the two countries, an important channel for mutual understanding and trust,” Zhu said.

Besides scholars in social sciences, the US also began last year to make it harder for Chinese graduate students to get visas if they stud

y in “sensitive research fields”. It warned biomedical researchers at US universities to beware of “Chinese spies

trying to steal information from their laboratories”, according to The New York Times report.

Jon Taylor, a professor of political science of the University o

f St. Thomas in Houston, said the decision is “both absurd and exceedingly shortsighted”.

“These scholars and researchers are social scientists with a long history of interactin

g with their American counterparts as well policymakers in both countries,” he said.

“They are scholars teaching and researching what I teach and research. What are they going to steal?”

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Information from Norinco says the gun has a firing ran

 of 8 kilometers, and each of its shells can scatter dry extinguishing agents over about 20 squa

re meters. The gun features high mobility and accuracy, and is suitable for suppressing big fires, it said.

This is not the first time Norinco, the country’s largest arms producer for land weapons, has enter

ed the realm of firefighting. Before the gun, the company had developed and sold a series of firefighting tanks.

With the chassis and armor of a combat tank, the vehicles can protect crew members from fire, explosions and bui

lding collapses, and can cross half-meter-high obstacles or 2-meter-wide trenches. They have automatic spray dev

ices and fireproof coatings that can keep scorching heat out of the vehicles’ interiors.

The tanks can get closer to the scene than a fire engine for search-and-rescue missions, Norinco said.

Using 520-horsepower diesel engines and equipped with hydraulic devices

, the tanks can clear away obstacles weighing up to 15 metric tons. Their metal tracks allo

w them to operate on slopes, in rocky terrain and in the debris of collapsed buildings.

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Take C919, a narrow-body twinjet airliner developed by

mmercial Aircraft Corporation of China, Ltd. (COMAC), for example. At the earliest, COMAC will get the airworth

iness certificate for C919 in 2021. Besides, just obtaining the certificate does not reduce even a bit of the difficulty in making and delivering the aircraft.

As the history of aircraft manufacturing shows, it is almost impossible for manufacturer

s to obtain airworthiness certificate and deliver aircraft to the purchasers on time. More often than not, aerospace companies ta

ke several years more than the promised time to deliver the aircraft. For instance, both Boeing 787 Drea

mliner and Airbus 380 were delivered years behind schedule. Which means delayed delivery is a norm in the aerospace industry.

In short, it would take decades for Chinese manufacturers to mass-produce airplanes irrespective of the rise and fall of other aircraft makers.

China has made great strides in industrialization during the 40 years of reform and opening

-up, but for that it learned from developed countries’ experiences and put its own experiences to good

use. The complete system of research, development, safety, production, supply chain and service that took Boein

g and Airbus decades to establish should be what Chinese aircraft manufacturers should strive for. With continuo

us efforts, C919 could earn its place in the civil aviation industry-perhaps 10, even 20, years later.

 

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Those criticizing the initiative may seek to present themse

lves as having more sense or greater perspicacity and thus able to see the “truth” of the Belt and R

oad. But those who seek to portray it as ill-intentioned are those who habitually speak ill of China.

Those countries and organizations which choose to join the initiative have a mind of thei

r own. They realize the initiative is not an endeavor that has been planned down to the finest detail, it

is a cooperation framework that is being given substance and significance through the collaborations of countries.

Just as China’s veteran diplomat Yang Jiechi said in an interview on the weekend, the Belt and Road Initiative has created ne

w areas for international cooperation based on the principles of mutual respect, justice, equity and win-win outcomes for all.

Yang, a member of the Political Bureau of the Central Committee of the Communist Party of China and director of the Office of the Central Commissi

on for Foreign Affairs, rightfully pointed out that the initiative provides a platform for fostering closer ties between countries, and i

t has created new impetus and opportunities for the development of the world economy by helping many of the cou

ntries involved remove development bottlenecks and implement the UN 2030 Agenda for Sustainable Development.

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