Substantial and resolute efforts must be made to prevent

 major contradictions and outstanding problems through coordinated planning and targete

d measures to make reform better serve the country’s economic and social development, Xi said.

The meeting reviewed and approved a series of official documents including a guideline on innovation and improving ma

cro-regulation, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.

The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize eco

nomic growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr、

eventing risks, and ensuring social stability, according to a statement issued after the meeting.

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new college graduates aged up to 24 years old increased by

ed by 8.4 percentage points, as the global financial crisis caused demands to fall drastically. It i

s possible that the Sino-US trade dispute could have a similar impact on the job market.

So the government should implement an expansionary macroeconomic policy to create a loose em

ployment environment and better implement social security measures to cope with frictional u

nemployment and the structural employment problem of college graduates.

To offset the possible negative impact of the Sino-US trade dispute on college graduates’ employment, the government sho

uld also expand post-graduate enrollment, increase internships for unemployed college graduates and imp

lement favorable policies to ease the enterprises’ financial burden so they can recruit more employees.

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The currency’s depreciation was purely caused by mark

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 said market-oriented depreciation pressure was losing steam.

Yi Gang, the central bank governor, has said several times that the PBOC has ceased

direct intervention in foreign exchange markets, and the performance of RMB is address

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video of Liu competing in an international English spee

ech competition in 1996 in London was sent around Chinese social media, the US website qz.com reported.

“While the Western world views Liu as an unapologetic champion of China’s agenda, many mai

nland citizens regard her as a national heroine defending her country from hostile foreign influences,” Newsweek reported.

On Monday, Regan tweeted: “I look forward to hosting Ms Liu – in a FIRST OF ITS KIND debate on trade – LIVE from Beijing & New York.”

Beijing on Wednesday set up a 5 billion yuan ($724 million) fund to spur development of the fift

h-generation or 5G mobile technology industry, its latest effort to gain an edge in the commercialization of 5G tech.

The fund was established jointly by the Beijing Science and Technology Innovation Investment Management Co Ltd, Beijing

Yizhuang International Investment and Development Co Ltd and State-owned China Jianyin Investment Lt

d. It will focus on investing in leading high-tech firms across the entire 5G industrial chain.

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President’s Russia visit eyes global stabilityernational Coo

President Xi Jinping’s upcoming visit to Russia reflects close cooperation between China and Russia, which is impo

rtant to maintain the stability of the international community amid rising uncertainties, analysts said.

Xi will make a state visit to Russia from June 5 to 7 and attend the 23rd St. Petersburg Inter

national Economic Forum, Foreign Ministry spokesman Lu Kang announced on Wednesday.

The trip is part of the annual exchange of visits between the two countries’

heads of state, after Russian President Vladimir Putin attended the Second Belt and Road For

um for International Cooperation in Beijing in April and had talks with Xi on the sidelines.

The visit will further display the strength of bilateral ties, which are developing “very good” momentum both politically and

economically, said Ruan Zongze, vice-president of the China Institute of International Studies.

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The NDRC said in the recent media interview that Chin

na will adhere to the principle of fair and free trade in its management of rare-earth ex

ports, but “the Chinese people will be unhappy” if the country’s exported rare-earth metals are used against China.

Since the start of the China-US trade friction more than a year ago, Washington has taken many measures, includin

g taking advantage of its edge in high-end chip making, to stymie Chinese high-tech firms, the NDRC said.

The NDRC added that in its latest move to dampen China’s industrial development, the US governme

nt has used an executive order to effectively ban products of Chinese tech giant Huawei from being use

d in the US, which has been widely seen as unreasonable and unfair. Having been increasingly used in high-tech ind

ustries, rare-earth metals are critical in making products from advanced weaponry to chips and hybrid cars.

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ue to encouraging weather forecasts, many teams decid

ed to scale the summit from the Nepali side on May 22 and 23. As a result, crowded conditions form

ed about 100 to 150 meters from the peak, Ma said in Kathmandu, Nepal’s capital. “I was force

d to wait in a line for about 20 minutes on my way down. Such circumstances can be fatal to climbers if the

y panic and consume more oxygen than planned. Also, they can easily get frostbite if they don’t keep moving.”

This year, about 90 percent of the climbers at Qomolangma are

first-timers. Lack of professional training and experience as well as undetected health issue

s should be mainly blamed for the casualties on the mountain rather than the traffic jam, Ma added. “Some expe

dition companies failed to prepare the climbers for crowded conditions which is really irresponsible.”

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Multiple channels needed to keep job market healthy

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 health of th

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Speaking at a regular news conference, Lu said the US sid

de has made various remarks about trade negotiations, with some saying the agreement w

ill come out soon while others saying it’s still difficult to reach an agreement, from time to time.

China’s position has been consistent, Lu said. “The trade frictions should be resolved through friendly con

sultations and negotiations, which must be based on mutual respect, equality and mutual benefit,” he added.

SOUTHAMPTON, England – Nigel Farage’s Brexit Party was se

t to storm to victory in a European election, riding a wave of anger at the failure of Prime Min

ister Theresa May to take the United Kingdom out of the European Union, early results showed.

The country’s two main parties, May’s Conservatives and the opposition Labour Party, hemorrhaged support while sm

aller pro-EU parties did well: the Liberal Democrats were in second place, according to a BBC projection.

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Under the trade pressure, the world’s second-largest ec

conomy is accelerating restructuring reform and shifting from an export-dominated growth model to a more services-driven model, they added.

“The United States escalated trade tensions, but it cannot solve any pro

blem. This causes volatility and sluggishness in global financial markets and hurts the global ec

onomy,” said Guo Shuqing, the People’s Bank of China’s Party secretary and also head of the China Banking and In

surance Regulatory Commission. His keynote speech was delivered by a commission spokesman at a forum on Saturday.

Impact on the Chinese economy will be very limited, said Guo. “Chinese finan

cial markets, although they were excessively affected by trade tensions last year, are unl

ikely to be hit more dramatically going forward, as financial resilience is strengthening.”

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