Now that it has reached middle-income status, China’s eco

nomic strategy will focus on creating a highly competitive domestic market that forces com

panies to produce high-value goods so they can pay high wages to highly skilled people.

Because of its long experience in manufacturing, much of tha

t push will be focused on higher value-added production, using the new technologies of r

obotics, artificial intelligence, the internet of things and 5G. This is the only way to avoid the middle-income trap.

The reform and opening-up policies are exactly the kinds of market-driven reforms

needed to make this happen. The Chinese government is investing heavily in research and development, but it sho

uld be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

shoppingfair.org

Not only are there missing links on the causality chai

 between long-term structural factors and actual economic performance, it is also unclear how long those factors would take to constrain GDP growth to a part

cular level. In fact, 20 years ago, the same long-term factors were used to warn of a possible fall in Chinese GDP growth.

Because of the complexity of China’s growth trajectory, many economists seem to base their assessments of potenti

al on performance. After every drop in China’s GDP growth since the second quarter of 2012-when growth fell be

low 8 percent-economists have emerged to declare that performance was in line with potential.

Difficult to determine potential growth rate

To be sure, there are various estimates of China’s potential growth rate, ranging from 5 perc

ent to 8 percent. But it is difficult to determine which is reliable. For one thing, there is reason to believe that

most estimates fail to discount cyclical factors adequately when calculating the long-term trend.

www.koryoung.com.cn

Government pledges more red tape cuts of items requiri

China will further cut the number of items requiring certificatio

n and refine the procedures through institutional inno

vation to improve government services and foster a more enabling business environment.

The decision was made at the State Council’s executive meeting, chaired by Premier Li Keqiang on Sunday.

Participants at the meeting agreed that the government’s efforts in recent years to repeal unwarranted certification requ

irements and deepen the reform of government functions have produced notable results.

“These are crucial steps benefiting both companies and individuals

,” Li said. “At a time when the economy still faces uncertainties, removing these unjustified cer

tification requirements will help boost market vitality and improve the business environment.”

hheeh.cn

hina’s growth a source of hope for allong proclaimi

With Chairman Mao Zedong proclaiming the founding of the People’s Republic of China on

Oct 1, 1949, the Chinese people began leaving behind a century of colonial humiliation and building a new life.

What remains poorly understood by the wider world even seven decades later is how dire were

the conditions in China during those days. While China sustained its triumph, Chinese people’s living stan

dard 70 years ago was barely 5 percent relative to their counterparts in the United States.

It was a dire starting point.

Transitions that raised China’s living standard

In the late 1970s, Deng Xiaoping introduced “reform and opening-up” policies

and established special economic zones, which ultimately facilitated China’s entry int

www.tcplea.cn

i also called for the two countries to further enhance

exchanges between their legislatures, political parties, youth, think tanks, media

and local authorities to cement their people’s support for friendly bilateral ties.

Bhandari said the joint building of the Belt and Road is a historic initiative and has an important global influence.

The initiative has served as a good platform for Nepal-China cooperation, she said.

The Nepali president expressed her congratulations on the

70th anniversary of the founding of the People’s Republic of China, and said

it is admirable what the Chinese people have achieved under the leadership of the Communist Party of China.

China is a true friend of Nepal, and Nepal sees opportunities in China’s prosperity and stability, Bhandari said.

www.deng-di.cn

Ma Xiaoguang, spokesman for the State Council’s Taiw

wan Affairs Office, said in a statement on Tuesday that the exercise aimed to protect national sover

eignty and territorial integrity, as well as protect the common interests of people from both sides of the straits.

Taiwan’s administration, led by the Democratic Progressive Party, used the drill as an opport

unity to “deceive and mislead the residents of Taiwan and to provoke and escalate a cross-Straits confrontation,” Ma said.

“Its goal of undermining cross-Straits relations and the peace and security of the region will not succeed,” Ma said. “Nobo

dy should underestimate our adamant resolve and ability to protect national sovereignty and territorial integrity.”

On Tuesday, Taiwan leader Tsai Ing-wen said she will not be intimidated by the military d

rill, calling the exercise “a threat to Taiwan” and an act of “coercion”, the island’s media reported.

Tsai also thanked the United States for considering a deal with Taiwan to renew a $500

million training program in the US for Taiwan F-16 pilots and maintenance crews.

21nh.cn

The core of Beijing’s high-quality development is to

 better deal with the relationship between ‘capital’ and ‘city’, which is to strengthen the four funct

ions of Beijing — the national center of politics, culture, international communications and scient

ific innovation,” said Cai Qi, Party secretary of Beijing, last month during the two sessions.

According to the municipal authority, the new economy — industries with intensive innovation a

nd knowledge — now makes up 33 percent of the city’s economy, and this ratio is expected to keep growing.

President Xi Jinping’s three-nation visit to Europe last month prod

uced tangible fruits and showed that despite any differences that may exist between China and

the European Union, they have the common desire to strengthen cooperation.

Thanks to mutual efforts from both sides, China-EU interaction has been displaying good momentum. Over the years, their economic

interests have become increasingly intertwined, and people-to-people exchanges have flourished, formin

g a solid foundation on which bilateral ties have been able to grow and prosper in an all-around way.

changjiucf.cn

With 32 turbines by the blue sea, the Punta Sierra wind far

rm has been in operation since Feb 4, 2018.

It is the first Pacific Hydro wind farm in Chile and the first wind farm invested in by China in the South American country.

The $150 million project, financed and constructed by China State Power Investment Corpo

ration, has an installed capacity of 82 MW and will generate about 282 GWh/year, which can meet electri

city demands for 130,000 households and reduce carbon emissions by 157,000 tons per year.

Located in Russia’s Yamal Peninsula in the Arctic, the Yamal liquefied natural gas project reached f

ull production capacity with its three production lines, each of which has a capacity of 5.5 milli

on tons per year, with operations starting in December 2017, August 2018 and December 2018, successively.

The project is the world’s largest of its kind within the Arctic Circle and is also the first m

ega- energy cooperation project implemented in Russia after the Belt and Road Initiative was proposed.

It is owned by Russia’s Novatek (50.1 percent), France’s Total (20 percent), China N

ational Petroleum Corporation (20 percent) and China’s Silk Road Fund (9.9 percent).

avnfi.cn

Flight systems, however, typically are built with a

 backup system so there can be no single point of failure. Since the crashes of Max jets in Indonesi

a in October and Ethiopia last month, Boeing has modified design of the anti-stall device to include two sensors on all aircraft.

The FAA allows airlines to make minor modifications in previously certified

aircraft to meet their operational needs, a rule Boeing followed in building the 737 Max for

foreign carriers. Ethiopian Airlines and Indonesia’s Lion Air — involved in fatal crashes five months apart — repo

rtedly declined to buy two add-on safety devices that might have helped the pilots keep the doomed planes in the sky.

Neither airline purchased the “angle of attack” system display for readi

ngs of two sensors rather than one and a “disagree light” to be activated if the sensors prod

uce conflicting readings. The Lion Air crash in October killed 189 passengers and crew.

Airlines around the world, including China and the US, have flown the 737 Max, introduced in 2018, without incident.

osmsxl.cn

Xi’s speech was widely welcomed by people on both sides

of the Straits, most of whom support the peaceful reunification of Taiwan with the motherland. But the separatist forces on the island, who represent a miniscule perce

ntage of the island’s population, and their representative, the ruling Democratic Progressive Party, have dev

ised a counter-plan against the peaceful reunification plan to fulfill their own narrow political gains.

And at sucha a crucial moment, 10 US Congress members have made a 7-minute video to commemor

ate the 40th anniversary of the Taiwan Relations Act to openly show their support to Tsai and her “pro-independence” supporters.

Although they comprise a small part of the Congress, they hold representative posts-for example Jame

s Inhofe is co-chairman of US Senate Committee on Armed Services and Congressional Taiwan Caucus, and Eliot Engel is ch

airman of House Foreign Affairs Committee, who has said the US would provide security support for Taiwan to jointly counter the mainland.

gzbbcl.com