On the total length in planning, Beijing, Shanghai and

Guangzhou all w阿拉爱上海女神会所ill build subways covering more than 1,000 k

ilometers, and Shenzhen, Wuhan and Chengdu plan to reach 800 kilometers.

However, the financial situation in operating these urban rail networks was not satisfactory. While

over 600 billion yuan ($86.69 billion) invested into the sector in more than 30 cities last year, o

nly a few cities managed to break even, according to the 21st Century Business Herald.

Data from 28 cities showed that the ratio of revenue and expenditure stood at 78 percent in

2018 after increasing 8 percentage points from the previous year. Only four cities — Hangzhou, Qin

gdao, Shenzhen and Beijing — achieved balance last year, and the rest of 24 cities operated at loss.

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Fortunately, a growing number of Chinese high net wort

th investors have started to realize the importance of not putting all their eggs in one basket, said Zi Yu

an, head of investment platforms and solutions at UBS Securities. One solution is to hold dif

ferent currencies to avoid the possible risk of the exchange rate fluctuation of one single currency.

“They are looking at more overseas markets. Different markets sometimes are litt

le connected. For example, the Chinese stock market was really disheartening last year. But if an investor all

ocated his assets in the US stock market or other markets with high yield bonds, the loss in the Chinese stock m

arket will be offset and the stability of the entire investment portfolio will be further consolidated,” he said.

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General Wei is scheduled to give a speech on China’s se

ecurity cooperation with the international community and will meet heads of several

foreign delegations, Wu said at a news conference in Beijing on Thursday afternoon.

hina’s tech giant Huawei Technologies Co maintained its ranking as the w

orld’s No 2 smartphone vendor, continuing to narr

ow the gap with Samsung, the first on the list, market research company Gartner Inc reported.

With 71.62 million in smartphone sales, the world’s top vendor Sam

sung saw its market share reduce from 20.5 percent to 19.2 percent in the first quarter of this year.

Huawei sold 58.4 million units of smartphones in the same p

eriod, up 44.5 percent year-on-year, the highest growth among the world’s top five.

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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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China’s determination to expand opening-up and the ong

going reform measures have made its financial market increasingly appealing to overse

as investors,” the administration said on Monday in a statement on its website.

“The administration will continue to support the opening-up of financ

ial markets, meet demand from overseas investors to expand investment in the ma

rkets and attract global long-term capital to enter China’s financial markets,” it said.

Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore

ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co

mpared with $3.099 trillion by March, according to data released by the administration on Tuesday.

China is willing to see the accelerated development of the onshore capital market, said analysts, allowing direct fi

nancing to play a more significant role in allocating savings and investment, and better serve the economy.

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Sino-US talks on trade seen as productiveeets with U

Negotiators from two sides aim to meet next week in Washington to continue

Vice-Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven M

nuchin met in Beijing from Tuesday to Wednesday for the 10th round of trade talks between China and the United States.

The two sides are working on putting bilateral trade on a stronger footing, and the lat

est meetings were productive, Mnuchin wrote on his Twitter account, without giving details.

A Chinese team is scheduled to visit Washington next week for another round of talks, Xinhua News Agency reported.

Liu is also a member of the Political Bureau of the Communist Party of China Cent

ral Committee and chief of the Chinese side of the China-US comprehensive economic dialogue.

ypidv.cn

Sino-US talks on trade seen as productiveets with US Trade

Negotiators from two sides aim to meet next week in Washington to continue

Vice-Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin met in

Beijing from Tuesday to Wednesday for the 10th round of trade talks between China and the United States.

The two sides are working on putting bilateral trade on a stronger footing, and the lat

est meetings were productive, Mnuchin wrote on his Twitter account, without giving details.

A Chinese team is scheduled to visit Washington next week for another round of talks, Xinhua News Agency reported.

Liu is also a member of the Political Bureau of the Communist Party of China Central Co

mmittee and chief of the Chinese side of the China-US comprehensive economic dialogue.

China and the US have been expediting their economic and trade consultations, with a goal of

implementing the consensuses President Xi Jinping and US President Donald Trump reached in D

ecember, said Xue Rongjiu, deputy director of the China Society for WTO Studies in Beijing.

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President hails US high school students’ roles

Mandarin learners encouraged to play parts in fostering bilateral friendship

President Xi Jinping encouraged a group of United States high-school students to boost

friendship between China and the US as he replied to their letter written to him in Chinese.

“I hope you will make the best of your time, study hard and contribute y

our part to a deeper friendship between the people of our two countries,” Xi wrote in th

e letter, saying the young generations represent the future of the Sino-US friendship.

Over 40 students from Niles North High School in the state of Illinois who are studyi

ng Mandarin Chinese recently wrote to Xi, asking about his work, life and hobbies.

They told the Chinese leader in the letter that they are studying Mandarin, and they love the Chinese language, music and cuisine.

In his written response, Xi expressed gratitude to the students for their letter, and said he

can feel from the letter their love of the Chinese language as well as their interest in Chinese culture.

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Top economic planner bullish on reaching annual growth

China’s economy, despite headwinds, has enjoyed a good start in the first quarter of 2019, and the country has the confide

nce to achieve the annual projected growth goal, said the country’s top economic planner.

“The first quarter’s stable economic development has laid a solid foundation for the an

nual growth,” said Yuan Da, spokesperson with the National Development and Reform Commission.

“The economy has stayed on the track of steady growth. We have the confidence, conditio

ns and capability to meet the projected targets for economic and social development this year.”

Yuan made the remarks at the NDRC press conference on Thursday in Beijing.

According to data from the National Bureau of Statistics, China’s economy expanded at a faster-than-expected 6.4 perce

nt year-on-year in the first quarter. The growth was unchanged from that in the fourth quarter in 2018.

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hina boosts measures to open economyivers the keyn

China will further open up to foreign investors and offer them treatment equal to that of domestic companies with firm prote

ction of their legitimate rights, Premier Li Keqiang said at the Boao Forum for Asia on Thursday.

The country will fully adopt pre-entry national treatment and negative lists for overseas

investment, Li said at the opening ceremony of the forum’s annual conference in Hainan province.

By the end of June, China will release the amended negative lists for foreign investment ac

cess, he said. “The negative lists will only be shortened. … We will ensure fair competition and common deve

lopment for Chinese and foreign companies with fair supervision,” Li told more than 2,000 participants.

A negative list shows areas where investment is prohibited; all other areas are presumed to be open.

The government has started formulating matching regulations and rules to supp

ort implementation of the Foreign Investment Law, adopted two weeks ago, Li s

aid, adding that supporting regulations will take effect along with the law on Jan 1.

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