Mason

The Guangdong government will optimize the autom

obile consumption environment. Automobile plate lotteries and bidding indicators in Guan

gzhou and Shenzhen will be broadened, and no other cities in Guangdong province may introd

uce automobile purchase restriction regulations. The government will strengthen the supervision of automobile sales, the maintenance and acc

essories industry, and establish a public notice system for automobile sales. Meanwhile, the used car consumer mar

ket will be improved and procedures for used car transactions will be simplified.

The Implementation Plan clearly states its aim to stabilize housing co

nsumption. The province will expand the supply of rental housing and the coverage of perma

nent residents in public rental housing, and housing provident fund systems.

The province will promote the upgrading of rural consumption in building rural tourism brands and improving infrastru

cture such as rural networks, communications, h

ydropower, logistics and highways. It will also vigorously encourage new modes of cons

umption, including accelerating the development of new information consumer products such as 5G-base

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At present, more than 20 provincial-level regions have

 completed 5G call tests and more than 500,000 commercial 5G base stations are expected to be

built in South China’s Guangdong, North China’s Hebei, East China‘s Zhejiang and Jiangxi, and Central Chi

na’s Hubei provinces and the cities of Shanghai, Harbin, Tianjin, Chongqing and Wuhan in the future, the report said.

“With technologies and products related to the 5G network maturing, the main parts of the 5G ind

ustrial chain, including systems, chips and terminals, are ready for commercial use,” Wen Ku, a

spokesman for the Ministry of Industry and Information Technology, said on Tuesday.

The report said the ministry, having made a general plan fo

r 5G application, is estimated to formally issue 5G licenses at some point this year.

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The US’ trade deficit stems from its extremely low natio

nal savings rate and has to be compensated by other countries’ national savings, which in tu

rn adds to the trade deficit. On the other hand, China’s efficiency in the manufacturing industry makes it a lar

ge exporter of manufactured goods to the US and helps it sustain its high savings rate.

A high growth rate means higher trade deficit for US

Given that the US economy is driven by domestic demand, consumpt

ion in particular, instead of exports, a high rate of ec

onomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a sit

uation, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.

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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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hina promises to counter US tariffsay urged tes to c

China’s Ministry of Commerce on Thursday urged the United States to correct its use of tariffs, and vo

wed to take necessary countermeasures if the US’ new tariff plan targeting $300 billion in Chinese imports takes effect.

The US government’s bullying behavior and maximum pressure regime on China violate mu

ltilateral trade rules, ministry spokesman Gao Feng said at a regular news conference.

The office of the United States Trade Representative proposed to take further action by imposing 25 percent of addition

al tariffs on Chinese imports with an annual trade value of approximately $300 billion. The USTR is seek

ing comment and will hold a public hearing regarding the proposed modification on June 17.

Gao said the impact of US tariffs imposed on Chinese products starting last year was “completely controllable.”

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Move shows Beijing’s resolve to safeguard its interests

China said late on Monday that it will increase tariffs on the bulk o

$60 billion of US imports to three categories of rates between 10 percent and 25 percent.

For the rest of the US imports, the duty rate remains at 5 percent, acc

ording to a statement released by the Customs Tariff Commission of the State Council.

The tariffs will hit around 5,000 products such as food, chem

icals and auto parts, and are due to take effect on June 1, the commission said.

In a separate statement on Monday, the commission said i

t will be open to tariff exemption applications for part of qualified US imports.

This is China’s latest response to the additional US tariffs on $200

billion of Chinese goods, which were implemented on Friday morning.

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hina deeply disappointed by US tariff planpointm

hina voiced deep disappointment late on Wednesday about Washington’s plan to raise tariffs on Chinese imports on Fr

iday, saying that it will take necessary counter-measures if the US tariffs increase takes effect.

The planned tariffs increase on $200 billion worth of Chinese

imports from 10 percent to 25 percent was filed by the Office of the US Trade Representative, and

the filing appeared on Wednesday in the Federal Register, the Associated Press reported.

In response, an unnamed spokesman for the Ministry of Commerce said in a statement on the ministry’s website that escal

ating trade friction does not serve the interests of people in the two countries and the world.

Major US trade bodies have urged the Trump administration to avoid further escalating tensions by suddenly incr

easing tariffs on Friday, while experts said it’s sensible for China to continue negotiations in a measured way.

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The volunteer team, having stayed in Lunar Palace

an environmentally contained research facility where occupants simulated l

ong-duration self-contained missions with no outside inputs for 200 days — broke the previous

record of 180 days set by researchers in Russia. The team recently won a China May Fourth Medal.

“President Xi has called upon young people to overcome hardships, and that is what our team has been doing,” Yi said.

Qiu Shuiping, Party secretary of Peking University, said the learning institution is pro

ud to be part of history. The university has chosen May 4 as the day to celebrate its founding.

“The choice of the date indicates our resolve to move forward along the path set by the movem

ent to realize national rejuvenation,” he said. “Our teachers and students will work harder to accelerate the

pace of building Peking University into a world-leading academic institution.”

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sees stronger ties with Chilectivity with Latin s hig

Interconnectivity with Latin American countries high on bilateral talks agenda

China and Chile should connect their development strategies and promote interconne

ctivity between Chile and other Latin American countries, President Xi Jinping said on Wednesday.

Xi made the remark while meeting with Chilean President Sebastian Pinera in the Great Hall of th

e People in Beijing. Pinera is on a five-day state visit and planned to attend the Second Belt and Road

Forum for International Cooperation. Premier Li Keqiang also met with him on Wednesday.

Xi said Chile is the first South American country to have established diplomatic relation

s with China, and the first Latin American nation to fully acknowledge China’s status as a market-oriented economy.

Xi said that Chile, the first Latin American country to have signed a bilateral free trade agreement with China an

d to have upgraded the agreement, is an important cooperation partner in jointly building the Belt and Road.

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