The strategic guiding role of national development plannin

ng should be leveraged to improve coordination mechanisms

for economic policies such as finance, currency, employment, industry, and regional develop

ment to ensure the nation’s economic development stays within a reasonable range, the statement said.

The meeting highlighted the importance of strengthening innovative cap

abilities as well as opening-up and cooperation in this regard, and called for improving the serv

ices and environment for opening-up and cooperation so that development is promoted through opening-up, inn

ovation is advanced through reforms and win-win results are achieved through cooperation, it said.

Tough and newly emerging problems should be resolved through deepening reforms, the state

ment said, adding that the capability of dealing with challenges and preventing risks should be intensified.

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The world’s second-largest economy maintained its fore

eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho

ugh it slightly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.

Li Yang, director of the National Institution for Finance and Development of the Chinese Academy

of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de

fend its currency, even if depreciation pressure rises amid any escalation in trade tension.

In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen

t under market pressure as global investors worried about the escalation of trade friction.

Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monday that higher US tariffs on Chin

a’s imports triggered financial market volatility, and this also affected the offshore RMB.

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alwai highly commended China’s achievements in its ref

form and opening-up drive, and said the country’s success has not only brought changes to itself, but als

o has profound and positive influence on the world. Vanuatu firmly honors the one-China policy

and supports the Chinese government in its efforts to realize peaceful national reunification, he added.

oreign investors may get access to more onshore commodity contracts 

China will give foreign investors more access to its commodity futures market as part of it

s continuing efforts to strengthen the real economy, the top securities regulator said on Tuesday.

The move will benefit both overseas and domestic market participants, and

the opening-up of the stock index futures market will also speed up, experts said.

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Addressing the plenary session of the Fourth Eastern Eco

n Economic Forum in Vladivostok, Russia, in September, Xi called for regional memb

ers to actively align their development strategies and work together for an open regional economy.

Wu Hongwei, a researcher of China-Russia relations at the Chin

ese Academy of Social Sciences, said bilateral cooperation plays a prominent role in guar

anteeing world peace and security at a time when the global situation is clouded by tensions and turmoil.

The two countries share the same position in promoting a mo

re stable and multipolar world, Wu said, adding that they

have sent such signals through supporting and coordinating with each other on international occasions.

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ale Zhang, managing director of Shanghai-based con

nsultancy Automotive Foresight, said SEAT’s smaller cars will help its parent company to reach custo

mers in China’s smaller cities, where electric cars built on Volkswagen’s own platforms would be less affordable.

Volkswagen, as well as its subsidiaries from Audi to Porsche, plan to deliver aro

und 1.5 million electrified vehicles, most of them pure electric cars, in China by 2025.

It also expects global sales of electrified vehicles will total 22 million by 2028, and half of them will be produced in China.

China overtook the United States as the largest producer and market of new energy vehicles in 2015.

The China Association of Automobile Manufacturers expected sales of su

ch vehicles to reach at least 1.6 million this year, up from 1.2 million in 2018.

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n the 2014 EU Parliament election, what was then Fara

ge’s UK Independence Party won with 26.8 percent, followed by Labour on 24.7 percent and the Conse

rvatives on 23.3 percent. The Greens won 7.7 percent in 2014 and the Liberal Democrats 6.7 percent. Turnout was 35.6 percent.

Greater access to China’s financial sector will encourage global investors and dispel the gloom clouding the g

lobal economy amid Beijing’s trade tensions with Washington, according to senior officials and economists.

Chinese financial regulators are preparing a comprehensive opening-up, with more new measures in the pipeline. Foreig

n institutions with advanced performance in risk management, credit rating, consumer finance, endowments and

health insurance are especially welcome, senior officials stressed over the weekend.

The opening measures will offset part of the negative impacts of trade friction on economic re

covery, and enable China to reach its GDP growth target of above 6 percent this year, they said.

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As for global GDP, manufacturing employment and

trade, they could decline by 0.134 percent, 0.323 percent and 0.869 percent. Th

e US tariff hikes therefore will increase the economic pain of the US and world economies.

Agricultural products, chemicals and chemical products, textiles and g

arments are the main US items targeted by China’s higher tariffs. But despite the higher tar

iffs providing some protection for domestic industries, Chinese consumers might have to pay more to purchase them.

In the first four months of this year, the volume of Sino-US trade dropped by 15.7 percent to $161.23 billion. In terms of product

structure, US exports of raw materials and foods to China saw the biggest decline, among which the export of so

ybeans plummeted by half in March compared with the same period last year. And US exports of plant products, mi

nerals, jewelry and precious metals declined by more than 85 percent in the first quarter.

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It is time therefore that China and the US addressed ea

ch other’s concerns on the basis of mutual respect and equality, and strived to reach a win-win deal as soon as possible, bec

ause that it would be conducive to the development of not only the two countries but also the whole world.

Little angel, happy children’s day,” reads a note on a wreath laid on the gravestone of Maodou, who died just six days after she was born.

On Saturday, Maodou’s family and staff from the Huzhou Red Cross in East China’s Zhejiang pro

vince presented the wreath and toys at her grave. Her organ donation certificate was given to her fat

her surnamed Mao, who decided to donate the baby’s corneas and kidneys.Maodou, you went away without once

seeing the world. Now the people who have received your corneas will see it for you. I know you would have sup

ported Dad’s decision. And please take care of Mom for me in the afterlife,” Mao whispered in front of the grave.

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Yang Xiaowei, deputy head of the Cyberspace Administra

stration of China, also called for more efforts to develop the homegrown big data sector and

highlighted that stepping up research and development is key to mastering core technologies.

Paul Romer, co-recipient of the 2018 Nobel Prize in economics and p

rofessor of economics at New York University, said he is impressed by China’s proposal in cyb

er sovereignty which he understands as: Each nation must be able to write and enforce its own laws that regu

late cyberspace, and ensure that cyberspace works to the benefit of everyone in the nation.

“China’s articulation and implementation of cyber sovereignty means it is

a chance for the world to see a different kind of organization for cyberspace, and a cha

nce to see that with the right structure, we can get tons of benefits,” Romer added.

Lu Yong, vice-president of Huawei Technologies Co, said China’s digi

tal economy has thrived on the basis that China has built the world’s largest 4G network.

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Dongxing Securities analysts noted in the report tha

hat the ban will be an alarm bell for China, and the Chinese government and domestic comp

anies will accelerate the push for developing core industries, including in chips manufacturing.

“As the division of the telecom industrial chain has become globalized, the US ban will also affect US chipmakers’ income,” the report

said. “Huawei lists 33 US companies among core suppliers, accounting for 36 percent of its total key suppliers.”

A strong 7.5 magnitude earthquake struck Peru on Sunday morning, the Geophysical Institute of Peru (IGP) said.

No casualties or material damages have so far been reported.

The IGP first reported the quake measured 7.2 magnitude. It was recorded at 02:41

am local time (0741 GMT) in the province of Alto Amazonas in northern area of the Loreto region.

Hernando Tavera, head of the IGP, told local media: “The quake has been percei

ved with a fairly large radius, including Lima, Junin, Pasco and Iquitos, where there has been a power cut.”

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