ic importance to Huawei. “TSMC produces most of H

uawei’s chips. Only with its cooperation is it possible for Huawei to have a Plan B in stocking

in-house processors in order to offset fallout from the US ban on its access to US chips,” Xiang said.

He said the move by Panasonic also showcases that the Japanes

e tech company is not willing to surrender to political pressure from Washington, after ear

lier reports that it had stopped shipments of certain components to Huawei. The firm bought $6.3 billion wort

h of products including batteries and electronic components from Panasonic in 2018, according to Nikkei Asian Review.

United Kingdom-based mobile operator EE said on We

dnesday that its 5G network in the UK would rely on equipment made by Huawei.

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Xinjiang to launch up to 100 trains for tourists

As tours to Xinjiang Uygur autonomous region have become increasingly popular among tourists from home and abroad, local

authorities have announced a plan recently to launch as many as 100 special trains for tourists from May to October.

The local railway authorities will step up cooperation with other part

s of the country to boost Xinjiang’s tourism development, according to Huang Ti

ngfen, deputy general manager of Xinjiang Railway Tourism Development Group.

The trains will provide easier access to both the southern and northern parts of Xinjia

ng, said Huang. It will also be more convenient for Xinjiang residents to travel to other parts of the country.

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When the desired train tickets are not available at the tick

et booking site and the app of the China Railway Corporation, a person can use the “waiting” function, and the system will add the wanted ticket information to a list.

One person could make an order for three tickets in the waiting list, and the function will be

free and much more efficient than other third-party software to grab tickets, according to the operator.

When ticket buyers cancel or change their tickets, the system will allocate the returned tickets to waiting buyers on the list.

To use this function, people have to pass a verification process on their status through facial recognition.

They will have to prepay the maximum price for each ticket, and once the

y have obtained the tickets, the difference from the actual fare will be refunded. If they f

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China will further open the financial market to welcom

e more overseas investors in. The cross-border trade and investment will be more free and convenient, said Pan.

He called China’s economy stable, as the major economic indicators were within a reasonable range.

In April, the National Bureau of Statistics said the purchasing ma

nagers’ index for the manufacturing sector stood at 50.1, indicating expansion as the reading was above 50.

The broad money supply, or M2, increased 8.5 percent year-on-year by the end of April, compared with 8.3 percent a year earlier.

“The prudential monetary policy was focused on countercyclical adjustments this year, maintaining flexibility as well as

ample liquidity to promote fast growth of credit and strengthened support of private and small enterprises,” Pan added.

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The ministry also released several typical cases that we

n April 2018, Shanghai police arrested eight people from Shanlin (Shanghai) Financial In

formation Service Co, which was involved in illegal fundraising of more than 60 billion yuan.

The company, with a registered capital of 1.2 billion yuan, adopted a physical store and online ma

rketing to take public deposits. From October 2013, the company opened over 1,000 physical stores

across the nation and trained its employees to sell financial products through advertising and telemarketing wit

h the promise of high interest. In 2015, the company opened online financing platforms to raise money.

The company’s claimed investment projects were found to have no profit

ability, resulting in a huge capital gap that prevented it from repaying investors’ principal and interest. Last

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School students and adult visitors learn about making pri

nts and carving stamp seals and learn about the appreciation of and technological metho

ds being used in the conservation of the age-old buildings at the Palace Museum, MayIn celebration of this

year’s International Museum Day, the Palace Museum in Beijing turned itself into a dynamic stage on Saturday an

d offered a variety of activities to echo this year’s theme, “Museums as Cultural Hubs: The Future of Tradition”.

Students and adult visitors were invited to the museum to learn about

making prints and carving stamp seals and to learn about the appreciation of and tec

hnological methods being used in the conservation of the age-old buildings at the Palace Museum.

The Chinese Musicians Association’s choir gave an outdoor performance. An exhibitio

n opened showing dozens of lithographs by artists from countries involved in the Belt and Road Initiative.

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Intensified law enforcement also benefits overseas ent

erprises in China. Last year, intellectual property authorities punished violators in more

than 6,000 cases of infringing on rights of trademark registrants from overseas, with a t

otal value of 151 million yuan ($22 million), an increase of 50.1 percent over the previous year, the report said.

An agreement to support young scholars’ research into the Silk Road was signed between China and UNESCO during a ses

sion of the Conference on Dialogue of Asian Civilizations in Beijing on Wednesday.

Under the agreement, an international academic program will be launched with funding of $1 mill

ion from the Chinese government to scholars under 35 years of age from around the world.

Hosted by the Ministry of Education and UNESCO, the session – entitled “Safeguardin

g the Diversity of Asian Civilizations” – focused on cultural interactions among Asian people and disc

ussed challenges in terms of revitalizing the multiple cultures of Asian countries and regions.

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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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So far, more than 47,000 people have received skating and

skiing training and the number will continue to rise, with expectations of 70,000 enrolled by the end of this year, he added.

He also said Yanqing has built more ski runs over the last two years, based on seasonal features and site conditions.

Some important events and testing activities are expected to be he

ld in Yanqing – for example, the 14th National Winter Games Alpine skiing speed events in 2020.

Zheng, the deputy commissioner, said schools in Yanqing also created some outdoor ice rinks when winter weather cond

itions allowed, while in summer, manmade ice would be a good choice for campuses to open up skating practice.

Yanqing will put more effort into increasing the number of qua

lified winter sports instructors, improving school curriculum and hastening constr

uction of winter sports venues to add more flavor to the upcoming Winter Olympics in China, he said.

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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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