port Hainan in developing the whole island into a pilot free trade zone, the 12th and the largest in the country, to gradually explore and steadily promote the establishment of a free trade port with Chinese characteristics. The Haikou Jiangdong New District covers 298 square kilometers o n the east coast of Haikou, and will have two parts: a 106-sq-km ecological region boasting a key n ational wetland natural reserve, and a 192-sq-km area that will serve both industrial and urban purposes. The provincial government said Haikou should pay great attenti on to ensure that environmental quality is advanced in an all-round way while developingRead More →

ssible national security concerns. Fair engagement across technologies is a better way to secure national security than delinking. “The cost of decoupling will be very high for both economies,” he said. “Engage ment in a fair competition with common rules is a far better outcome than decoupling.” If there has to be some “decoupling” due to “valid national security conc erns” in both countries, that should be kept to a minimum and not exaggerated, he said. “Normal commerce is in the interest of both of our countries. And we should pursue it vigorously,” he added. Allen also said members of the council are worried thatRead More →

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission. According to Guo, the short-term fluctuation of the RMB exchan ge rate was normal, and the depreciation will not last long given the stable economic growth base. “Any speculative activities to short the RMB will suffer huge losses,” he warned. The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou nd 6.89 per dollar for eight days from May 20, and market watchers saidRead More →

On May 22, on her own program, The Point With Liu Xin, Liu a top anchor on the English-languag e channel of CGTN, said the $600 billion figure is an estimate by a nonprofit organization that had not been verified. Liu said it refers to the US’ possible IP loss to the world in a year, according to the organization’s report, China Daily reported. She said Regan’s points were “all emotion” with “little substance”. Regan responded on Twitter: “Hey #China State TV – let’s have an HONEST debate on #trade. You accuse me of being ’emotional’ and not knowing my facts – wrong! You nameRead More →

The Beijing municipal government plans to invest at least 30 billion yuan by 2022 to build 5G networks, according to a 5G devel opment plan released in January. In Beijing’s road map for 5G development from 2019 to 2022, the municipal gov ernment has set a goal to develop its 5G-related industry to realize an income of 200 billion yuan by 2022. The city said it hopes that by 2022, Beijing-based scientific research units and enterprises can be a key contributor to global 5G technical standards, acc ounting for more than 5 percent of all primary and essential international 5G patents. Huang Jianjun, vice-president ofRead More →

ures market will help foreign investors optimize their renminbi-denominated asset portfolios as they can inc orporate investment targets of a wider variety, said Wang Tingting, an associate pro fessor of finance with the Central University of Finance and Economics in Beijing. “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 market to foreign invest ors, as they have large exposure in the A-share market and are therefore in needRead More →

nt are broadly in line with expectations. Although pro-European Union parties have won a majori ty of the seats, the EP is more fragmented than before with traditional center-right and center-left par ties losing seats to Liberals and Greens, and Euroskeptic parties increasing their vote share. This is likely to make it more difficult for the EU to agree new trade deals and choose new leaders for EU institutions. The heads of government of EU states met on Tuesday to discuss who will fill the top jobs. The new EP and the EU leadership face a difficult international environment, especially on th e trade front.Read More →

The Chinese government has accorded priority to achieving stable and expanding employment among its six stabilization tasks. The importance of stable employment has also been highligh ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues. The government is making special efforts to stabilize and expand employment, especially be cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade. The China Institute for Employment Research of Renmin University of China has calculated the employment market index, which shows the healthRead More →

has taken a tougher line on protection of agriculture. France, for example, is opposed to including agriculture in transatlantic trade talks. The Greens are one of the big winners in the elections (even beating Germ any’s Social democrats into second place), and they will seek to impose strict conditions reg arding climate change, the environment and human rights on future trade deals. This attitude will also make it dif ficult to agree a new trade deal with the US, as it has not endorsed the 2015 Paris climate agreement. Although the nationalist and populist parties now have more seats, it does not mean they willRead More →

uled to become a shareholder of the joint venture by the end of 2019, holding at least 1 percent of i ts equity. According to Chinese norms, it is mandatory for international brands to produce vehicles in China bearing its names. Luca de Meo, CEO of SEAT, said: “China is the benchmark country for electric vehicles. We aim to be a part of this ecos ystem in order to exchange knowledge and make progress in achieving global mobility that is more sustainable.” Currently, JAC, Volkswagen and SEAT are building a 4 billion yuan ($579 million) research and development center in Hefei, which is expected toRead More →