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These high net worth individuals each possess inve

Meanwhile, 79 percent of the Chinese high net worth individuals polled said they are optimistic about their inves

tment returns for the next six months, while the average number was 62 percent in the North Asian markets.

Despite the fact that the benchmark Shanghai Composite Index sh

ed nearly 24 percent in 2018, 67 percent of Chinese participants said they will increase their inv

estments in the stock market in the next six months, much higher than the 51 percent registered in North Asia on average.

UBS found that cash still makes up about 30 percent of the investmen

t portfolios of Chinese high net worth individuals, which is the lowest among all surveyed Asi

a-Pacific markets, and even lower than the global average of 32 percent. Although China’s number is relatively lo

w, it is comparatively one of the most significant parts of the investment portfolios of high net worth individuals.

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Tariffs pose threat to global industrial chains, official says

The tariff increases that the United States has placed on Chinese goods affect not only the interests of Chinese companies and consumers, but also their US cou

nterparts and threaten the security of global industrial and supply chains, according to a senior Chinese industrial official.

“We once again urge the US to stop unreasonably suppressing Chin

ese companies. Chinese companies deserve to invest and operate in a fair and just en

vironment in the US and the world,” Vice-Minister of Industry and Information Technology Wang Zhijun said.

Concerning the US decision to further increase tariffs on Chinese imports, Wang s

aid during a recent interview with news media that the total impact is “controllable”.

The nearly $200 billion of Chinese goods hit by additional US tariffs on May 10 acco

unted for 41.8 percent of China’s US exports in 2018, or 8 percent of its total exports.

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The spike in trade tensions has already rattled financial

markets. The yuan has weakened by 2 percent to its lowest level since January.

“We expect stock markets and the yuan to remain under pressure in the near term, though they c

ould be supported by an expected stabilization in the domestic economy later this year,” Wu said.

Sheng Songcheng, the former director of the Survey and Statistics Department in the Peo

ple’s Bank of China, said the truth is that imposing more tariffs on Chinese goods has not yet reduced US trade deficits.

The long-lasting US trade deficits in goods was formed from the US

dollar’s international status, its domestic low deposit rate and the US position in the glo

bal value chain, and those factors cannot be changed by protectionist measures, Sheng said.

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rvices will be provided based on the results of a sur

China will offer customized data services for disaster prevention throug

h its Fengyun meteorological satellites for more countries along the Belt and Road, said a

senior official of the China Meteorological Administration’s National Satellite Meteorological Center.

The services will be provided based on the results of a survey of 81 countries. By the end

of April, 22 countries, including Afghanistan, Pakistan, Iran, Russia, Libya and Sudan, had responded to the survey.

All of the respondents said they wanted to install the application software platforms

of the Fengyun satellites for weather forecasting, as well as climate and environment monitoring.

They also requested a range of services, especially in monitoring rainf

all, droughts, dust storms, heavy fog and lightning, in addition to training courses on F

engyun meteorological satellite data analysis, remote-sensing applications and data collection.

www.yt178.cn

Firefighter and ambulances have arrived at the scene for

It was reported that the fire could be caused by lightening strike.

Moscow’s transport prosecution office is investigating into the incident and it will check i

f there were violations of the flight safety legislation, according to Sputnik news agency.

Sarah Daley, a student at the University of Virginia, has deep connectio

ns with China. She spent the summer of 2018 teach

ing English in Hebei province and has a younger sister who was adopted from China in 2009. Both experiences left

her with positive impressions of Chinese people and long-lasting friendships.

Those connections led to Daley being honored by the Chinese embassy

in the United States during an award ceremony in Washington on Saturday, after she sha

red her stories with the world through an event hosted by the embassy and China Daily.

ovldix.cn

At the botanic park, one of the core areas of the expo

more than 100 projectors were installed to digitally recreate mangrove fo

rests and the environment surrounding them: tropical seas, tides and beaches.

With sound, light and electrical effects, the exhibition shows how mangroves, one of the very few vegetation env

ironments that can survive in coastal waters, thrive in the tides and change their surroundings for the better.

Tianjin resident Li Lingyan, who visited the park on Monday, was fascinated by the mangrove exhibition.

“Looking at the exhibit, it is as though I was brought to the seashore to se

e how mangroves grow in a tough environment. It was an amazing process,” she said.

” I was totally thrilled, and I got to learn a lot about mangroves.”

Near Gate No 5 of the park, “a forest of lights and shadows” draws crowds.

qianpadat.com

hina, International Pavilion big expo drawsing distr

As landmarks of the International Horticultural Exhibition 2019 Beijing China, the China Pavilion and the Inter

national Pavilion are attracting large numbers of visitors thanks to their unique designs and functions.

Covering an area of 5 square kilometers, the expo is being held in the capital’s Yanqing district.

Following the ancient wisdom of the Chinese people, the China Pavilion takes the shape of a green b

uilding that can “breathe” and has “life”, as described on the exhibition’s official website.

Core portions of the pavilion are composed of terraced fields. Fun

ctions of both irrigation and insulation are at play, and th

e fields help reduce energy consumption of the building while also offering heating or cooling functions.

www.ixhhw.cn

As the central government started a new round of subsi

China and the European Union have committed to achieving major progress this year in negotiations for a high-level bilateral in

vestment agreement with a view to concluding the ambitious accord next year, according to a joint statement.

The two sides pledged to widen market access, eliminate discriminatory requireme

nts for foreign investors and establish a balanced investment protection framework, according to a joint statem

ent issued after the China-EU leaders’ meeting held in Brussels, Belgium, on Tuesday.

Premier Li Keqiang, European Council President Donald Tusk and Eur

opean Commission President Jean-Claude Juncker co-chaired the annual meeting and reach

ed consensus on a wide range of issues, including bilateral ties, global challenges and governance.

They committed to building an economic relationship based on openness, nondiscrim

ination and fair competition, ensuring a level playing field, transparency and mutual benefit, the statement added.

Two-way trade between the EU and China reached more than $682 billion last year. The E

U is China’s biggest trading partner, and China is the EU’s second-largest trading partner.

khlee.com.cn

Hu said the two new models are likely to conduct their

first mission in about five years if all goes well. Like other Kuaizhou types, they will be mainly tas

ked with meeting demands in commercial launch service from the burgeoning satellite industry in China.

Meanwhile, designers also hope the Kuaizhou 21 will have the opportu

nity to serve government space programs such as the space station program, he added.

Zhang Di, a vice-president at the academy, previously told China Daily that the Kuaizhou 21 will b

e powerful enough to transport supplies to the country’s future space station or to ferry robotic probes to planets far from Earth.

CASIC began to develop the Kuaizhou series in 2009 as a low-cost, quick-response

product for the commercial space market. The company has launched four: two Kuaizhou 1s and two Kuaizhou 1As.

www.ovldix.cn

The city will also build 10 demonstration business street

breed 100 chain enterprises, and create 1,000 service outlets for residents this year, according to the project list.

Moreover, construction of the Beijing Daxing International Airport, subway lines 3, 12 a

nd 16 and interurban railways connecting Beijing and the Xiong’an New Area are also underway.

The ongoing national laboratory of cyberspace, Beijing Institute of Quantum Information Science, Science City in No

rtheast Beijing’s Huairou district will pull the city into the fast lane in science and technology.

“Investment contributes around 30 percent to the city’s eco

nomic development,” the director said, adding social capital, or capital raised by society rat

her than the government, has taken up over 90 percent of last year’s 334.6 billion construction investment.

“Social capital is welcomed at key projects investment t

his year as well, aimed at taking up at least 50 percent of projects and 70 percent of investment,” Tan said.

tsinghuagxbedu.cn