From chips to its self-developed operating system, Huawe

wei has long been preparing for independent research and development in core technologies. It has the ab

ility to adjust to changes in the global market,” said Xiang Ligang, director-general of the Information Consumption Alliance.

Huawei has also made preparations with core chipsets. Existing st

ocks are thought to provide the company with a buffer of six months to a year, he said.

The root cause for the repeated twists and turns in the China-US trade talks lies, to a

great extent, in the United States’ serious deviation from, and disdain for, the objective laws of eco

nomics. The fact that China will never accept its unreasonable demands further complicates the matters for the US.

The US administration’s often competing and clashing objecti

ves-though many of them are understandable-cannot be realized simultaneously. For instance, the

US hopes to revive its industries and boost its real economy while maintaining the huge bubble in its financial market.

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Both the digital industry and digitalization of other indu

 industries develop fast, and new sectors have been emerging, such as unmanned warehousing, facial recognition payments and new online-to-offline groceries.”

Meng also said that a new version of the nationally unified negative list for market access will be rolled out w

ithin the year. Illegal or implicit entry barriers and locally issued negative lists will be canceled, she said.

The Chinese authorities will also establish and refine mechanisms for adjusting the annually released

list when necessary, she said, adding that the list will better cope with the reforms to delegate power, streamline ad

ministration and optimize government services, and will better meet the needs of market entities for broader access.

Wang Yuanhong, deputy head of the Department of Economic Forecas

ting at the State Information Center, said the fast growth of high-tech industries and the

service sector reflects the ongoing upgrading of traditional industries and the optimization of C

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ons of people and reshape the physical world, and

countries should be mindful of these projects’ impact on the environment and inhabitants.

“It is encouraging that the government of China is taking proac­tive measures to ensure tha

t the development of the Belt and Road Initiative is risk-informed and sustainable,” she added.

“Disaster-proofing the world’s largest infrastructure initiative is a challenge, but achi

evable,” she said, adding that at the heart of this challenge lies great potential for innovation and creativity, suc

h as new disaster risk prediction and analysis, and disaster-resilient infrastructures.

Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said disas

ter risk reduction of natural hazards along the initiative is crucial for its success and sustainability.

Regions at the heart of the initiative, such as the Tianshan-Pamir Plateau, the H

imalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serious

disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.

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In 2008, he accidentally came across a group of people fly

 flying a remote-controlled model aircraft, which intrigued him

and brought back his fantasy. He immediately bought a model aircraft for himself. Ho

wever, due to his lack of basic knowledge in operating it, he broke the aircraft that same day.

“I tried very hard to fix it but failed,” he said, adding that he was then d

etermined to make himself an expert. He began to study online and made friends with many dieh

ard fans. After half a year, he was able to make modifications on model aircrafts.

With drones becoming mainstream in China, Zhao decided to s

et up his own company in 2010 to sell drones. After his compa

ny was set up, five drone models had been invented by his team, including a modified drone powered with fuel.

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Private counselors’ services can be extensive, from providi

iding several versions of edited application essays to setting students up with internships and volunteer opportunities.

Nicole Shen said she paid a counselor $12,000 to edit seven or eight of her daughter’s c

ollege application essays. She also regularly takes her daughter to private tutors who charge $180 per hour.

“It’s very normal (to hire private counselors and tutors) among Chinese parents (living in th

e San Francisco Bay Area),” Shen said. She is in several WeChat groups, each having hundreds of parents.

Shen said it is easy to find a counselor. “You just pst in the groups, and somebody will quick

ly respond with recommendations. I know many parents easily spend over $150,000 on the counseling or tutoring.”

The San Francisco Bay Area has a high concentration of private college admiss

ions consultants. Tutoring schools and consultancies with Chinese signs can be seen in shopping malls.

A popular consultant is IvyMax, which bills itself as the “largest, most influential US

premier college application institution serving the Chinese-American community”.

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The regulation also called for stricter implementation

 of programs and compliance oversight to ensure that the required funds of investment programs are in place on time.

The approval mechanism for government-invested pro

grams will be further standardized, and major programs must go through procedures suc

h as evaluations by intermediary service institutions, the public and experts, as well as risk assessment.

Government investment funds must prioritize investments into areas where the market cannot effectively allocate res

ources, such social services, public infrastructure and environment protection, the regulation said.

It also calls for equal treatment of various

types of investment entities, adding that authorities should not set up biased conditions.

The premier said in his Government Work Report this year that Chi

na will pursue a proactive fiscal policy with greater intensity and enhance its performance.

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Wealthy pay millions to put kids in collegesailing

A college admissions cheating scheme in the United States has triggered widespread discussio

n among Chinese netizens during the four-day May Day holiday after it was reported that a w

ealthy family paid $6.5 million to assure their daughter’s admission to Stanford University.

Billionaire Zhao Tao, 52, president and co-founder of Shandong Buchang Pharmaceuticals, a company that spec

ializes in traditional Chinese medicine to fight cardiovascular disease, reportedly funneled money to William Ric

k Singer, the admissions consultant who is at the center of the explosive case brought by US federal prosecutors.

The executive’s daughter, Zhao Yusi, also known as Molly Zhao, got a spot at Stanford University by presenting h

erself as a recruit for the school’s sailing team. The price was $6.5 million, according to the Los Angeles Times.

Zhao’s mother, identified as Mrs Zhao in a statement delivered through her attor

ney, said the family gave $6.5 million to Singer for the school’s scholarship fund and other purposes.

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It’s Xinzhu’s first overseas production base, marking

 the first step of its overseas development.Du Xiaofeng, vice-president of the company, said it aims to serve members of the Commonweal

th of Independent States, the Eurasian Economic Union, and other Middle East and European marke

ts. He said the company will adopt localized management and hire a large number of Belarusian employees.

The company also introduced the core technology for medium- and low-speed maglev traffic system f

rom German company Max Bogl Group and put it into local production. Its production line is expected to be completed in June.

“Our overseas outreach has gradually transformed from technological and academic com

munications to capacity cooperation,” said Hu Jishi, senior counselor and technical director of the company.

More BRI-related countries and companies have found

business potential in Chengdu. The Sino-German small and medium-sized enter

prises cooperative park, Sino-French ecological park, Sino-Italian cultural innovation park, Sino-South Korean innovation and

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Qu Ting, general manager of supply chain finance at

he bank, said: “Using big data, artificial intelligence and internet technolo

gies, we built a platform based on real transactions to meet the financing needs of private

enterprises, and realized synergies between finance and industries via smart risk management.

“Enterprises need a series of services, including financing, settlement, asset management and sup

ply chain management. Our bank is looking to offer comprehensive financial solutions, not just f

inancing solutions, so as to join hands with companies in building industrial chains and ecosystems.”

Shi Jie, executive vice-president of China Minsheng Banking Corp, said

far-reaching changes have taken place in terms of the market and clients in the past t

wo years. Bankers now have a deeper sense that the financial demands of private enterprises have eased.

“The biggest challenge is whether or not we really know our clien

ts. Only by truly understanding our clients will we be able to provide the right financial solutions that

meet the needs of private enterprises and offer them a superior customer experience,” Shi said.

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He made the decision to exit the public hospital sys

tem and become an independent practitioner in the hope of providing better treatment to patients and earning a higher income.

Today, Zhang is not only a vascular surgeon, but also the founder and head of Dr. Smile M

edical Group, China’s first group medical practice, which he established in Shanghai in July 2014.

Back then, group practices, in which doctors partner together to offer medical servic

es to patients and share operational costs, was a fairly new concept in China.

But in many other countries such as the United States, group medical practices are c

ommon for doctors who work independently instead of being employed by hospitals.

Since 2014, group practices have sprung up across China, and many established doctors have left hospitals to start their own practices.

A recent example is Zhou Yuehua, one of the most acclaimed eye surgeons in China, who made headlines when he left the re

puted Beijing Tongren Hospital at the end of 2018 and founded Zhou Yuehua Myopic Doctor Group in Beijing.

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