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um for Asia, that China will grant 5G licenses this year, but didn’t disclose a specific date.
“5G, industrial internet and the internet of vehicles are among the country’s top development priorities in the teleco
mmunications industry,” Zhang Feng, chief engineer of the Ministry of Industry and Information Technology, sa
id on Friday during the World Telecommunication and Information Society Day.
Zhang called for accelerated efforts to set standards in key areas, including 5G, to expedite th
e commercialization of this forefront technology and bolster the nation’s core competitiveness.
Major Chinese smartphone maker Huawei Technologies Co has already unveiled its first 5G chip and first 5G fol
dable smartphone, the Mate X, which is expected to hit the market in June, despite challenges involving the United States.
nt of a comprehensive social security system in record time. Having set up the foundation,
it can now focus on targeted improvements. For example, in 2017, China provided special funds for pre-preg
nancy and other medical checkups for women, benefiting 12 million women, or 91.7 percent of the target group.
The country’s modernization could not have occurred without the people increasing their capabilities. Beyond general educ
ation for the population, the government has increased the knowledge and experience of officials to be at the fore
front of solving problems. Specialist schools and academies have been set up in multiple fields, including a national soci
al security school in Beijing to build the capacity of social security officers across the nation.
It is the totality of the Chinese experience over the past four decades, in rebuilding the
country in so many ways, that has become an inspiration for other countries. C
hina has been a diligent student learning from others. Today, it also has many experiences to share with the world.
It’s hard to say that China entered a new cycle of credit expansion,” said Zhang Ming, chief eco
nomist at Ping An Securities. “For the whole year, the overall financing growth and money supply is expected to stabilize.”
Fast credit expansion means higher pressure on companies to repay debt and interest, and the space for sustainable credit growth i
s limited, given the current leverage level. Total outstanding debt has exceeded 250 percent of GDP, Zhang said.
The good news is that credit has been channeled effectively into the production sector, such as manuf
acturing and high-tech, and the healthier credit structure can support the overall economic r
estructuring reform, said Ruan Jianhong, head of the central bank’s statistics and analysis department.
hina and the United States will continue economic and trade consultations in Washington ne
xt week, after reaching consensus in principle on major issues during their high-level Beijing talks, State media reported.
According to Xinhua News Agency, the two sides had in-depth communication on topics of mutual concern including tec
hnological transfers, intellectual property rights protection, nontariff barriers, the service industry, agr
iculture, the trade balance and an implementation mechanism, as well as on particular issues of concern to China.