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After a half-month visit to China, a team from the IM

led by Asia and Pacific Department Deputy Director Kenneth Kang, summarized that “China can play an impor

tant role and would benefit from further opening up and other structural reforms that enhance competition.”

The previously issued policy is sufficient to stabilize growth by 2020, despite the rec

ent US tariff hike, according to the fund’s report. “No additional policy easing is ne

eded, provided there are no further increases in tariffs or a significant slowdown in growth.”

Only if the trade tensions further escalate and threaten economic and financial stability, a

dditional policy easing, such as fiscal expansion, could be used to stabilize the economy, it said.

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In its first quarter report this year, Tesla revealed that i

t it expects its second-generation Model 3 production line at its Shanghai plant to

cost 50 percent less per unit than its factory in Fremont, California.

CEO Elon Musk also said in April that the gigafactory in Shanghai expects to produce 1,000 and 2,000 vehicles a week

But China CDC says more efforts still needed to hit nation’s reduction target

Smoking has been declining on the Chinese mainland, but m

ore efforts are needed for effective tobacco control, according to a survey released on Thursday.

Last year, 26.6 percent of the population 15 years old or above across the mainland were smokers, according to the survey, which

was conducted by the Chinese Center for Disease Control and Prevention between July and December.

by the end of the year, the report said.

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The Global Times called the face-off of the two ancho

orwomen “friendly, meaningful talks. Both agreed: trade war is bad! (For Trish, that’s a change of hea

rt, since she had tried to justify the US trade war against China.)”, it said on its Twitter account.

A Twitter user, Ryan Bryant @RayCaiYan, said in a reply to Regan’s tweet, “That was not even a DEBATE, more like a Q&A session

. I thought Trish could leverage some of Liu’s answers to discuss the issues further, but sadly she couldn’t.”

FionaXu tweeted: The American hostess is talking about free market. Tell me how American

market is “free” under Trump’s government? You mean protectionism equals free market???”

Jon Taylor, a professor of political science of the University of St. Thomas in Houston, said that while they pretty muc

h disagreed on everything, it offered US viewers the chance to actually hear the Chinese side of the issues.

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Xi calls for bolstering reform and developmentforts to p

Xi Jinping, general secretary of the Communist Party of China Central Committee, called

on Wednesday for further efforts to prevent and eliminate major problems in the nation’s reform and

development against the backdrop that uncertainties and instabilities are on the rise.

Xi, also Chinese president and chairman of the Central Military Commission, made the remarks while presiding over a key meeting

of the Central Committee for Deepening Overall Reform. He is the director of the committee.

Saying China is facing profound changes in its reform and development against the backdro

p of increasing external uncertain and unstable factors, Xi said the country must maintain a strategic focus.

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Foreign investors’ access to onshore stock index futures

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures mark

et to foreign investors, as they have large exposure in t

he A-share market and are therefore in need of this risk management tool.

Foreign investors’ access to onshore stock index futures is an “infrastructure” for fin

ancial market opening-up, without which foreign investors’ passion for Chinese shares may be dampened, said Wa

ng Maobin, investment department chair at the University of International Business and Economics in Beijing.

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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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Through its app, customers can watch their coffee being

Luckin raised $561 million in its initial public offering Friday by selling 33 million American depositary shares at $17 apiece.

The ADS, which are trading on Nasdaq under the symbol “LK,” closed at $20.38 after rising as high as

$25.96 earlier in the day.Museums are not only there for enjoyment; they are education, and as such should be free.

While I can appreciate the enormous costs involved in maintai

ning and obtaining collections, let the wealthiest 1 percent of the country pay for it.

The Met in NYC is technically free; they ask you to give what you can afford. But the idea

of a person or child interested in art not being able to view it because of cost is morally wrong.

Free entrance does not attract people, nor does it encourage them to appreciate it

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This issue is similar to the environment. External critics

ent. External critics of China don’t appreciate that Chinese themselves realize there

are issues to be addressed. They are doing so. These developments should be encouraged.”

President Xi Jinping, who spoke at the Second Belt and Road Foru

m for International Cooperation in Beijing recen

tly, listed areas in which China will improve the environment for foreign investment.

The president said the nation will work hard to create a business environ

ment that respects the value of intellectual prop

erty, will improve the legal system for IPR protection at all levels, will strengthen law enforcement and pr

otection for the legitimate rights and interests of foreign IP owners and will bar the

forced transfer of technology, improve protection of trade secrets and crack down on infringement.

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Hospital in Boao has business license revoked over ille

Hainan provincial health authorities have revoked Boao Yinfeng Healthcare International H

ospital’s business license, for illegally administering HPV 9-valent vaccines, according to a statement Sunday.

Located in the Boao Lecheng International Medical Tourism Pilot Zone, the hospit

al has since January last year vaccinated 37 customers with HPV 9-valent, charging each 9,000 yuan.

They did so without obtaining an official vaccination outpatient license, said the statement.

It said the local health commission of Qionghai, where the Boao pilot zone is loc

ated, on April 18 issued the hospital a notice of penalties, including a warning, confiscati

on of illegal income, a fine of 8,000 yuan, and a revocation of its business license as a medical institution.

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