Multiple channels needed to keep job market healthy

The Chinese government has accorded priority to achieving stable and expanding employment

among its six stabilization tasks. The importance of stable employment has also been highligh

ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp

loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues.

The government is making special efforts to stabilize and expand employment, especially be

cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade.

The China Institute for Employment Research of Renmin University

of China has calculated the employment market index, which shows the health of th

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ang said by the end of this year, 5G network construc

The Beijing municipal government plans to invest at least 30 billion yuan by 2022 to build 5G networks, according to a 5G devel

opment plan released in January. In Beijing’s road map for 5G development from 2019 to 2022, the municipal gov

ernment has set a goal to develop its 5G-related industry to realize an income of 200 billion yuan by 2022.

The city said it hopes that by 2022, Beijing-based scientific research

units and enterprises can be a key contributor to global 5G technical standards, acc

ounting for more than 5 percent of all primary and essential international 5G patents.

Huang Jianjun, vice-president of China Jianyin Investment Ltd, said 5G technologies have been deeply integrated with

artificial intelligence, big data, the internet of things and other emerging technologies, ushering in a new era of in

ternet of everything and deep interaction between humans and machines.

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President’s Russia visit eyes global stabilityernational Coo

President Xi Jinping’s upcoming visit to Russia reflects close cooperation between China and Russia, which is impo

rtant to maintain the stability of the international community amid rising uncertainties, analysts said.

Xi will make a state visit to Russia from June 5 to 7 and attend the 23rd St. Petersburg Inter

national Economic Forum, Foreign Ministry spokesman Lu Kang announced on Wednesday.

The trip is part of the annual exchange of visits between the two countries’

heads of state, after Russian President Vladimir Putin attended the Second Belt and Road For

um for International Cooperation in Beijing in April and had talks with Xi on the sidelines.

The visit will further display the strength of bilateral ties, which are developing “very good” momentum both politically and

economically, said Ruan Zongze, vice-president of the China Institute of International Studies.

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The meeting reviewed and approved a series of official doc

ocuments including a guideline on innovation and improving macro-regulation

, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.

The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize economic

growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr

eventing risks, and ensuring social stability, according to a statement issued after the meeting.

The strategic guiding role of national development planning should be leveraged to improve coordination mec

hanisms for economic policies such as finance, currency, employment, industry, and regional development to en

sure the nation’s economic development stays within a reasonable range, the statement said.

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Issoufou attended the Beijing Summit of the FOCAC in S

September. The two countries should continue to understand, trust an

d support each other on issues related to core interests and major concerns, Xi sa

id, adding that the two sides should share more experiences on governance and development. Xi called on the two nat

ions to enhance connections under the frameworks of the Belt and Road Initiative and FOCAC.

China will continue to support Niger to fight terrorism and safeguard regional peace and stabilit

y, Xi said. China would like to help Niger improve its people’s livelihood through such measures as m

edical assistance and via exchanges in areas including culture, youth, women and think tanks.

Mutual understanding between the people of both nations should also

be promoted, Xi said. He stressed that as long as all countries stick to the dev

elopment paths that suit their own national situations, make joint efforts to build the Belt and Road and remain dedi

cated to fulfilling the goal of building a community with a shared future for mankind, they will definitely achieve success.

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The currency’s depreciation was purely caused by mark

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at

tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.

According to Guo, the short-term fluctuation of the RMB exchan

ge rate was normal, and the depreciation will not last long given the stable economic growth base.

“Any speculative activities to short the RMB will suffer huge losses,” he warned.

The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou

nd 6.89 per dollar for eight days from May 20, and market watchers said market-oriented depreciation pressure was losing steam.

Yi Gang, the central bank governor, has said several times that the PBOC has ceased

direct intervention in foreign exchange markets, and the performance of RMB is address

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Cyclists should travel on the right and be aware that rid

t riding against the traffic and parking are not allowed on the bikeway. In t

he event of a bicycle breakdown, cyclists should wheel their bikes to the nearest exi

t and leave the bikeway, keeping to the right side of the road, said the rules. There are eight entrances and exits on th

e 6.5-km bikeway and six of them are equipped with assistive mobility devices for bicycles.

To better meet the needs of commuters, a reversible lane has been introdu

ced on the bikeway, and cyclists should ride in the direction shown on the signs.

Some 11,600 commuters travel between Huilongguan and Shangdi daily, and the ope

ning of the reversible lane is expected to provide convenience to them during rush hours.

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The meeting required Shanxi province, a coal-abundan

t area in North China, to conduct pilot reforms in its energy industry and take the lead in the whole country in areas suc

h as promoting clean and low-carbon energy use and enhancing innovation in energy technologies, it said.

Efforts should be stepped up to build a higher-level, higher-quality food s

ecurity system that is more efficient and more sustainable to guarantee the nation’s grain

reserves, the statement saidThe head of the US-China Business Council, whose members include major US chip

makers that are suppliers to Huawei Technologies Co Ltd, said that the ban on the Chinese telecom giant would come at a co

st to US businesses, and that fair engagement across technologies would be better than decoupling.

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Speaking at a regular news conference, Lu said the US sid

de has made various remarks about trade negotiations, with some saying the agreement w

ill come out soon while others saying it’s still difficult to reach an agreement, from time to time.

China’s position has been consistent, Lu said. “The trade frictions should be resolved through friendly con

sultations and negotiations, which must be based on mutual respect, equality and mutual benefit,” he added.

SOUTHAMPTON, England – Nigel Farage’s Brexit Party was se

t to storm to victory in a European election, riding a wave of anger at the failure of Prime Min

ister Theresa May to take the United Kingdom out of the European Union, early results showed.

The country’s two main parties, May’s Conservatives and the opposition Labour Party, hemorrhaged support while sm

aller pro-EU parties did well: the Liberal Democrats were in second place, according to a BBC projection.

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hich means even if Beijing does not take countermeasures

ch means even if Beijing does not take countermeasures equal in scale to Washington’s, the US economy will not be left unscathed.

Tariff hike will harm both China and US

The list of products subject to US tariff hike covers daily necessities, light industry and machinery, with the main targets

being agricultural and food products, and general manufacturing goods produced by light industries.

In terms of agricultural and food products, China is the third-largest supplier to the US, with processed fruits and

vegetables; fruit and vegetable juice; fast food and snacks; fresh vegetables and tea leaves being the main items.

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