Market-oriented reform and opening-up will improve pr

roductivity in the service sector, which is an important thing that China is focusing on to stabilize economic growth,” Zhu said.

Chen Yulu, a vice-governor of the PBOC, also supported a “full-scale” opening of the financial sector. In the future, foreign invest

ors are welcome to conduct all forms of financial business in China, excepting those being named on a neg

ative list, and authorities are researching a new regulatory system, Chen said at the forum on Saturday.

Li Daokui, director of the Academic Center for Chinese Economic Practice and Thinking at Tsing

hua University, said China “should be more confident” in accelerating opening-up of its financial sec

tor, which will help global investors seize numerous opportunities in the Chinese market.

Domestic financial institutions are now capable of engaging in fiercer competition with global peers as their serv

ice abilities in many aspects, such as banking and insurance, have improved a lot over the past years, Li said.

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Moreover, Washington has forbidden US companie

 to sell chips to ZTE, a Chinese multinational telecommunications equipment and

systems company, even after imposing huge fines on the company. By so doing, the US has act

ually encouraged China to increase investment in its high-tech sector. So, even if China and the US were to strike a de

al, China would be prompted to import lower volumes of energy and agricultural products from the US.

In macroeconomic terms, the China-US trade dispute has added h

uge uncertainties to the US economy and raised the likelihood of recession. Which cou

ld thwart the US president’s chances of being re-elected in 2020. And the trade dispute c

ould prevent the US from taking the measures it intends to in order to consolidate its national power.

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Asked whether China will retaliate by targeting certain US co

 companies, Lu said that as for foreign enterprises operating in Chi

na, there is no need for them to worry as long as their businesses are law-abiding.

S President Donald Trump issued an executive order on Wednesd

ay in which he declared a national economic emergency and banned the technology and

services of “foreign adversaries” deemed to pose “unacceptable risks” to US national security.

The US intention is so obvious that media outlets around the world have without exception interpr

eted this as targeting Huawei, by excluding the Chinese telecommunications giant from US networks.

Washington has repeatedly claimed that Huawei’s equipment poses a security threat, but for all the sound and fury, it sign

ifies nothing, as it has never produced any credible evidence, indeed any evidence at all.

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The integrated development of the Yangtze River Delta re

gion must focus on the key elements of greater integration and high-quality developmen

t to lead the growth of the whole Yangtze River Economic Belt and East China, the statement said.

The meeting called for better awareness of integrated development and putting the region’s growt

h into the perspective of a unified strategy, as well as the development of a modern economic system.

It also required adequate coordination and implementation to ensure the effective implementation of various tasks in the plan.

The delta region, including Shanghai and Jiangsu, Zhejiang and Anhui provinces, is among the areas with the most robust econ

omic growth, the highest level of opening-up and the strongest capacities in innovation in China.

The total GDP of the delta region reached 21 trillion yuan ($3.06 trillion) in 2018, which

accounted for around one-fourth of the national total, according to Economic Daily.

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The conference also saw the launch of a scientific alli

lliance on international disaster risk reduction, which included around 30 institution

s and universities from countries including Italy, Belgium, Nepal, Pakistan and Sri Lanka.

The alliance will serve as a new platform for international coordinati

on and provide scientific support for disaster relief and sustainable development.

The conference was co-hosted by the Chinese Academy of Sciences, the China Association for Science and Technology, the U

nited Nations Environment Program, the UN Office for Disaster Risk Reduction and the Alliance of Int

ernational Science Organizations, a group created to connect the scientific communities of BRI participants.

Bai Chunli, president of the academy, said in the conference’s opening ceremony on Saturday that areas along the Si

lk Road are prone to various natural disasters that have resulted in massive loss of life and economic damage.

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China has exercised great restraint and goodwill in

trying to maintain stable relations with the US,” he said.

Li Haidong, a professor of US studies at China Foreign Affairs Universi

ty, said Washington has pushed a hard line in relations with Beijing in recent years.

“The Taiwan question is much more complicated and nonnegotiable,” Li said.

“If the US side continues to misinterpret the one-­China policy, it will irreparably damage Sino­-US ties,” he warned.

The US Senate will have to vote on the act before it can become law. The time of the vote is unknown.

“The consensus among US officials is to be tough on China, and room for rational option

s is rapidly shrinking as overconfidence and rash actions become the new norm,” he said.

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Country’s 1st space station to be shared a full-size m

China’s plan to involve international communities in its space mis

sions to jointly conduct space research shows its determination to further enhance global coop

eration in space projects, according to the director of the United Nations Office for Outer Space Affairs. That incl

udes opening up its planned space station to other countries, especially developing countries.

China’s space station, which is expected to be completed and operating by 2022, will be the world’s first space station open

for cooperation with all UN member states in manned space flights and exploration. The station will be able to sup

port research on astronomy, space life sciences, biotechnology, microgravity fundamental physics and space materials science.

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Remaining poverty alleviation tasks are quite arduou

s, and government departments must make continuous efforts to ensure tasks are completed. Off

icials of poverty-stricken counties must keep a close eye on problems to ensure people can escape poverty.

The Party’s publicity work was also discussed. It’s the top political task to learn and publi

cize Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the statement said. A

ll Party committees must pay great attention to publicity work and ensure the implementation of regulations.

A draft amendment to the Securities Law was submitted Saturday to a bimonthly session of

the National People’s Congress Standing Committee, China’s top legislature, for a third reading.

The latest revisions to the law include rules on the newly-devised science and technol

ogy innovation board, which will pilot a registration-based initial public offering (IPO) system.

Under the current IPO system, new shares are subject to approval from the China Securities Regulatory Commission before being listed.

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Wang, the Chinese think tank member, said many of

nternational relations scholars of his generation think of the US

as an example of the value of “freedom, democracy, fairness and human rights”.

“But those words are no longer applicable to describe the US today,” he said.

Wang said that for him, cancellation of the visa is nothing m

ore than a short-term absence from US academic activities, and “it is the US’ loss, not ours”.

He also said the decision would not affect the Chinese think tank he leads in continuing aca

demic exchanges with the US, and he suggests that China should not take countermeasures over such matters.

“No matter how petty the US becomes, China should still stick to its open attitude rather compete for who’s worse,” he said.

The China-proposed Belt and Road Initiative is not a geopolitical tool or a debt trap for particip

ating countries, but a platform for cooperation, State Councilor and Foreign Minister Wang Yi said on Friday.

Wang made the remark at a press conference ahead of the second Belt and Road F

orum on International Cooperation, which will be held in Beijing next week.

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Innovation links with Japan encouragedForeign Minis

Premier Li Keqiang called on China and Japan to boost cooperation in innovation to see more pra

gmatic outcomes, and to further work together in areas including finance, third-party markets and tourism.

The two countries should also create a fair and unbiased business environment for each other’s en

terprises, Li said in a meeting with visiting Japanese Foreign Minister Taro Kono in Beijing on Monday.

The meeting came after a China-Japan high-level economic dialogue,

co-chaired on Sunday by State Councilor and Foreign Minister Wang Yi and Kono. The dia

logue, also attended by ministers of agriculture, industry, commerce and environ

mental protection from both countries, was also the first to be held in China between the two nations since 2010.

Li congratulated attendees on the successful hosting of the dialogue in his opening remarks, noting that bilateral relation

s are back on the right track and have seen new progress thanks to joint efforts of the two sides starting last year.

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