ommunication key to shared future for mankind

The Conference on Dialogue of Asian Civilizations, which will be he

nth following the proposal of President Xi Jinping, demonstrates China’s

deep thinking and responsibility for promoting the development of civilization in Asia and the world. The conferenc

e will have great and far-reaching significance to the construction of a community of shared future for mankind.

The history of humanity is one of the coexistence and joint development of multiple civilizations. In his article on excha

nges among civilizations and mutual learning, published by the Qiushi journal on May 1, Xi wrote that “civil

ization becomes colorful because of exchanges, and abundant because of mutual learning”. He urged nations to “seek

wisdom, absorb nutrition from different civilizations, provide the people with spiritual support and comfort for thei

r soul, and join hands to resolve common challenges of various kinds confronting human beings”.

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President hails Nepal’s participation in BRinping holds

China and Nepal should strengthen cooperation on infrastructure construction and continue to promote the constructi

on of the China-Nepal cross-border economic cooperation zone, President Xi Jinping said in Beijing on Monday.

Xi made the remark during his meeting with his Nepali co

unterpart, Bidhya Devi Bhandari, who is on a nine-day state visit to China.

China greatly values its ties with Nepal, and supports Nepal in mai

ntaining its national independence, state sovereignty and terr

itorial integrity as well as exploring a path of development that suits its national conditions, Xi said.

Also, China appreciates Nepal’s firm and long-standing support over issues related to C

hina’s core interests and major concerns and its active participation in jointly building th

e Belt and Road, Xi said. He added that China will continue to support Nepal’s economic and social development.

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ina moor at a port in Zhanjiang during the ASEAN-China Ma

China’s first aircraft carrier, the Liaoning, and latest nuclear submarines, destroyers and fighter jets will join the parade, Qiu said.

“Some vessels will make their debut for the first time,” Qiu added.

Altogether 32 Chinese vessels and 39 warplanes will take part in the event, according to Qiu.

The vessels will sail in six groups, namely, those of submar

ines, destroyers, frigates, landing ships, auxiliary ships, and aircraft carrier.

The planes will fly in 10 echelons, showcasing aircraft for early warning, reconnaissance, anti-submarine patrol, as wel

l as bombers, fighters, carrier-based fighters, and carrier-based helicopters, Qiu said.

More than 60 countries will send delegations to join multinational naval even

ts marking the anniversary, and over 30 countries of them will send major navy leaders to participate, according to Qiu.

Nearly 20 foreign vessels of various capabilities, including destro

yers, frigates and landing ships, will join Chinese vessels in the naval parade, show

ing to the world the “firm determination to safeguard peace and seek development with joint efforts,” Qiu said.

Organizing multinational naval parades is a unique ceremonial activity of navies, according to Qiu.

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Lu made the remarks in response to recent media repo

 reports that India decided not to send a delegation to the second Belt and Road Forum for Internati

onal Cooperation later this month in Beijing. The reports said the initiative undermines the South Asia

n nation’s sovereignty via the BRI-related China-Pakistan Economic Corridor.

Lu said that, “If this decision about whether to participate in building the Belt and Road

was possibly made through a misunderstanding”, China firmly and sincerely advances the constr

uction of the Belt and Road on the basis of consultation and contribution for shared benefits.

He added that the initiative is open to all parties that are inter

ested in and willing to join in win-win cooperation.

It will not exclude any party, he said, adding that China is willin

g to wait if relevant parties need more time to consider their participation.

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Bernard Dewit, chairman of the Belgian-Chinese Cham

ber of Commerce, said that industrial and trade relations between the EU and China will i

ncrease following the meeting, and that China has made great efforts to open its market to European companies.

“China’s new Foreign Investment Law, which has just been (approved), will greatly reassure European investors of the com

mitment of the Chinese government to further protect foreign investments in China,” he said.

Wang Yiwei, a professor of international relations at Renmin University of China, said in an article

published in the People’s Daily Overseas Edition on Wednesday that the Chinese and EU lead

ers’ strategic communication on important issues will help foster new areas for bilateral cooperation.

The concerted efforts made by the two sides to cope with the common challenges

and develop win-win cooperation will add stability to an increasingly uncertain world, he added.

Hu Yongqi contributed to this story.

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But the underlying trend for the past five years is enc

ncouraging: annual TFP growth of about 3 percent, with especially strong growth in the tertiar

y sector. So, notwithstanding the recent slowdown in aggregate GDP growth, services-led Chi

nese rebalancing is imparting meaningful productivity leverage to the economy as a whole.

The question now is: Can China sustain its recent TFP trajectorya dist

inct possibility in light of an increasingly powerful shift to indigenous innovation and

the sustained services-led productivity of a growing cohort of well-educated knowledge workers-as well as rea

p the benefits of continued upgrading of its capital stock? If it can, the new Chinese study concludes that China’s potential GDP growth rate could hold aro

nd 6 percent over the next five years. Such an outcome would conform quite closely with China’s longer-term ambitions.

So, despite the days of 10 percent Chinese growth being over, which w

as inevitable, there is good reason to believe that the real story is China’s shift from qua

ntitative to qualitative growth. Which suggests China will defy yet again widespread fears of a looming middle-income trap.

www.ypwhl.cn

Ardern met with Premier Li Keqiang on Monday morn

ing, and the two witnessed the signing of four cooperative documents to pr

omote cooperation in tax issues, agriculture, finance and science at a signing cer

emony. A joint declaration on climate change was also released after their meeting.

Zhao Jianglin, a researcher of Asia-Pacific economic studies at the Chinese Academy of Social Sciences, said the visit by Ardern

will provide a timely boost to China-New Zealand relations after the dispute over the use of Chinese telecom equipment.

China has been a key trade partner with New Zealand, which could also provide important s

upport to the Belt and Road Initiative and China’s relations with countries in the South Pacific, she said.

A price cut swept China’s many sectors on Monday, as value-added tax rate reduction officially kicked in.

This year’s Government Work Report, which was released las

t month, said the rate bracket of 16 percent in manufacturing and other industries will

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Kamal Dhuper, China regional manager at Indian talent

development and training company NIIT, visited Xiongan in September and was received by Chen.

Chen said Xiongan welcomes NIIT to take its advantages in technology and training to enhanc

e cooperation in the building of a digital city and the IT industry, according to a news release.

While attending the top legislature’s annual session in March, Chen told reporters that Xiong

an will soon begin large-scale substantial construction as overall design plans for the area have been completed.

More than 200 teams and 1,000 experts from China and abroad have participated in the drafting of the plans, Chen said.

Jiang Hao, a Shanghai-based partner at global consultancy Roland Ber

ger, said his company is “very interested” in participating in Xiongan’s development.

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North Korea has yet to issue any direct public statement on

  the decision to withdraw. Chad O’Carroll, an analyst and chief executive of the K

orea Risk Group, said the move was to be expected following the failure of the Hanoi summit.

  ”North Korea’s pull-out Friday from the Kaesong Lias

on Office has been on cards since Hanoi, given recent no-shows there,” he said on Twitter.

  He added that the move was designed to send a message that from

Pyongyang’s perspective “Seoul has insufficient influence” over the US-North Korea rela

tionship and that intra-Korean talks are increasingly pointless, “when sanctions prevent practical cooperation.”

  Following the Trump-Kim summit in Hanoi, the US and South Korea canceled major war ga

mes that have long been a source of tensions on the Korean Peninsula in order to “support diplomatic efforts” with Pyongyang.

  Speaking on Thursday, Joseph Dunford, chairman of the US Joint Chiefs of Staff, said he was “absolutely confide

nt” that smaller exercises held in place of the traditional war games enabled the US and South Korean forces to “maintain readiness.”

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India’s richest man put his brother out of business. Now he’s

  India’s richest man just helped his cash-strapped younger brother avoid months in prison by paying off debts worth tens of millions of dollars.

  The gesture by Mukesh Ambani to bail out his brother, Anil, is the latest twist in a sibling saga that has gripped India’s t

elecommunications industry. A price war started by Mukesh in 2016 nearly put Anil out of business a year later.

  Last month, India’s top court ordered Anil Ambani and his company, Reliance Communications, to pay a 5.5 billion rupe

es ($80 million) debt to Swedish mobile firm Ericsson (ERIC) by Wednesday or face three months in jail.

  READ MORE ON INDIA

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  By Monday, the deadline was looming and the debt remained unpaid. Then Mukesh Ambani, who’s estimated to be worth more than $50 billion, stepped in.

  Reliance Communications said in a statement late Monday that it had made the paym

ent to Ericsson in full, with Anil Ambani thanking his brother and sister-in-law for their help.

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