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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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HiSilicon, which was founded in 2004, has designed chip

ipsets like Kirin, which has been used in Huawei’s high-end smartphones. In addition to server chips, th

e company has also developed chips for base stations, basebands and chipsets powered by artificial intelligence.

“From chips to its self-developed operating system, Huawei has

long been preparing for independent research and development in core technologies. It has the abil

ity to adjust to changes in the global market,” said Xiang Ligang, director-general of the Information Consumption Alliance.

Huawei has also made preparations with core chipsets. Existing s

tocks are thought to provide the company with a buffer of six months to a year, he said.

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Updates for the Android will be unavailable to Huawei sm

smartphones that run on the system, and

future versions of the company’s handsets will not be

able to use services from Google, including the Google Play Store, Gmail and YouTube apps, which are

not covered by the open-source license and require a commercial agreement with Google, Reuters report said.

Android’s official account replied on Twitter Monday that while th

ey are complying with all US government requirements, “services like Google Play and

security from Google Play Protect will keep functioning on your existing Huawei device.”

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The image, which showed a ringlike structure with a da

ark central region-the black hole’s shadow-depicted the black hole at the heart of Messier 87, a massive, distant gala

xy in the nearby Virgo galaxy cluster. It is 55 million light-years from Earth and has a mass 6.5 billion times that of the sun.

It was one example of the role that Tianma has played in international coordinated

observations. Its super sensitivity has made its observations useful as a reference by which other parti

cipants in the network can adjust their data, according to the Shanghai Astronomical Observatory.

“Tianma elevated the image quality of the EAVN, by about 50 percent, making a great co

ntribution to the research on extreme objects in the universe, such as black holes,” Shen said.

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Also, these new first-tier cities have preferential po

policies for residence permits and financial incentives to lure more talent.

For example, Zhenjiang in Jiangsu province, promised bonuses of 150,000 and 200,000 yuan for house purchases to gradua

tes with master’s and doctoral degrees, respectively, after they work in the city for three years.

Haikou, capital of Hainan province, is attracting college students with a monthly rent s

ubsidy of 1,500 yuan, with an 18,000-yuan allowance to graduates who decide to buy an apartment there.

Employment, especially some groups such as college gradu

ates and demobilized military staff, remains a priority to the government.

Premier Li Keqiang said at a teleconference on May 13 that employme

nt pressure will be felt this year by a larger number of college graduates. However, promotin

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Even before the ruling, scholars had said Trump’s legal ar

Degree holders turn their backs on mega cities for better lifestyle choices

The population of college graduates is projected to reach a record high this year, turning an

already tough job market into a pressure cooker and intensifying the scramble for talent nationwide.

To many new graduates, mega cities such as Beijing, Shanghai and Guangzhou, Guangdong province, are less attractive beca

use of their high cost of living and greater peer pressure in the job market. And so the graduates are looking elsewhere.

The trend is changing the employment landscape in China, but it’s good news for sec

ond- and third-tier cities. The mega cities’ loss could be their gain in the brain drain game.

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ed it from repaying investors’ principal and interest. La

September, 53 people in the company were transferred for examination and prosecution.u’an, a county in

China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun

Emerging fields including online lending, investment, pension services, consumer reb

ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.

Since the collapse of P2P online lending platforms beginning last Jun

e, public security authorities have investigated and handled more than 400 illegal fun

draising platforms and arrested more than 60 fugitives from 16 countries and regions.

“To grab excessive profits, the criminals keep changing and upgrading their criminal

methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”

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At 65 meters in diameter, the radio telescope Tianma-or

 heavenly horse-located in the suburban Songjiang district, is the largest omnibearing movable telescope in Asia an

d is ranked third in the world in comprehensive performance. It began providing celestial observations in 2012.

While Tianma was not directly involved in the observations that led to the black hole image, its ability to see other phenome

na in the universe on certain wavelengths, contributed to the precise calibration of the final data for the image, s

cientists in Shanghai said. Tianma is part of the East Asia Very Long Baseline Interferometry Network, or EAVN.

Shen Zhiqiang, head of the Chinese Academy of Sciences’ S

hanghai Astronomical Observatory and a member of the Event Horizon Telescope (EHT) inter

national team that assembled the black hole image-more than 200 astronomers worldwide linked via a g

lobe-spanning array of eight ground-based radio telescopes-said that the equipme

lanqiaowangluo.cn

Wang Peng, deputy head of think tank China Center for

 Information Industry Development, said Huawei’s chip making arm HiSilicon can help Huawei ensure the s

ustainability of its business to some extent, and its chip stocks “are expected to provide a buffer of six months to a year”.

Huawei said it procured around $70 billion worth of components and services from i

ts 13,000 suppliers worldwide last year, with roughly $11 billion coming from US suppliers.

The US has been voicing the “national security threat” of using Huawei products.

French President Emmanuel Macron said on Thursday that France will allow Huawe

i to build its 5G network infrastructure while preserving national security, according to Xinhua News Agency.

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Top regulator says economy set for growthand

Transformation of traditional industries speeding up, riding wave of high tech

The Chinese economy is poised for more vigorous growth after gathering new strength through upgrad

es in traditional industries and accelerating the growth of high-tech industries and emerging sectors.

The country will further expand market access with a nationally unified, annually released and timely adjusted negative list for m

ore market vitality, according to the National Development and Reform Commission, China’s top economic regulator.

Meng Wei, spokeswoman of the commission, said at a media conference on Fri

day that China has made steady progress in cultivating new momentum and promoting t

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