Yet the US expends huge amounts of its resources just to m

 maintain its monetary hegemony and thus ensure its financial sector offers higher pay and retur

n on investment compared with the real economy sectors, which helps it to maintain its advantage in at

tracting talents and capital. This in turn prompts the authorities to introduce more favorable policies and regulations for

the enterprises based in the US, which is essentially a combination of representative democracy and market eco

nomy. Under such circumstances, how can the US promote sustainable reindustrialization?

Besides, reindustrialization is not possible without rebuilding or strengthening infrastructure facilities. And

although the US leader has been claiming to implement a trillion-dollar infrastructure plan-and even made it on

e of the pillars of his “Make America Great Again” campaign-not much has come of it.

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ed it from repaying investors’ principal and interest. La

September, 53 people in the company were transferred for examination and prosecution.u’an, a county in

China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun

Emerging fields including online lending, investment, pension services, consumer reb

ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.

Since the collapse of P2P online lending platforms beginning last Jun

e, public security authorities have investigated and handled more than 400 illegal fun

draising platforms and arrested more than 60 fugitives from 16 countries and regions.

“To grab excessive profits, the criminals keep changing and upgrading their criminal

methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”

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Updates for the Android will be unavailable to Huawei sm

smartphones that run on the system, and future versions of the company’s handsets will not be

able to use services from Google, including the Google Play Store, Gmail and YouTube apps, which are

not covered by the open-source license and require a commercial agreement with Google, Reuters report said.

Android’s official account replied on Twitter Monday that while th

ey are complying with all US government requirements, “services like Google Play and

security from Google Play Protect will keep functioning on your existing Huawei device.”

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The capital issued blue alert for strong winds on Sunda

with five suburban districts of Tongzhou, Yanqing, Changping, Huairou and Shunyi upgrading it to yello

w alert later. These areas were hit with strong winds as high as 8-9 grades, with gales reaching 10 grade

at some places. According to forecast, the wind could still be as high as 7-8 grades on Monday.

The gale toppled a wall near Dongzhimen Bridge in downtown Beijing, hitting three pedestrians,

two males and one female. Two of them died at the scene and one at hospital, Dongcheng District said via Sina Weibo.

Food delivery service Meituan said one of its deliverymen was hit and killed by a fallen tree when delivering food.

The speed of wind reached 10-15 meters per second at the Capital International Airport starting from 10 a

m Sunday, with gales as fast as 20-25 meters per second, the airport said. Due to the strong wind, th

e operational ability of the airport dropped and remained low until 7 pm Sunday.

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China will further open the financial market to welcom

e more overseas investors in. The cross-border trade and investment will be more free and convenient, said Pan.

He called China’s economy stable, as the major economic indicators were within a reasonable range.

In April, the National Bureau of Statistics said the purchasing ma

nagers’ index for the manufacturing sector stood at 50.1, indicating expansion as the reading was above 50.

The broad money supply, or M2, increased 8.5 percent year-on-year by the end of April, compared with 8.3 percent a year earlier.

“The prudential monetary policy was focused on countercyclical adjustments this year, maintaining flexibility as well as

ample liquidity to promote fast growth of credit and strengthened support of private and small enterprises,” Pan added.

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n macroeconomic terms, the China-US trade dispute ha

as added huge uncertainties to the US economy and raised the likelihood of recession. Which could

thwart the US president’s chances of being re-elected in 2020. And the trade dispute could pre

vent the US from taking the measures it intends to in order to consolidate its national power.

As for China, the significant deviation in the US’ stances and objectives

in the trade talks should be a warning for it to more strictly stick to its principles. And the

fact that the US wants to challenge the laws of economics should not be reason for China to try to do the same.

China may grant official 5G licenses, instead of the interim licenses previously planned, to tel

ecom carriers this year and is likely to start commercial use of the superfast wireless technology na

tionwide in the near future, possibly as soon as October, according to people familiar with the matter.

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information technology, had confirmed at the Boao Foru

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.

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For example, in March, China provided a remote-sens

sing monitor report on flooding in Iran via Fengyun. The analysis estimated the coverage and

terrain characteristics of the flooded area, which greatly assisted the country’s evacuation efforts.

China has launched 17 Fengyun series meteorological satellites, of which seven are currently operational.

The World Meteorological Organization has included China’s Fengyun se

ries of meteorological satellites as a major element of its global Earth observation system.

ountries should work together for a better future in today’s world that is globaliz

ed and multipolar, Javier Solana, former secretary-general of NATO, said in an interview with China Daily.

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Separately, on the same day, the US Commerce Department

said it would be adding Huawei and its 70 affiliates to an Entity List, which will ban the compan

y from buying parts and components of US companies without prior government approval.

Gao Feng, spokesman for the Ministry of Commerce, said at a briefing that the con

cept of national security “should not be used as a tool for trade protectionism”.

“China strongly opposes other countries imposing unilateral sanctions on Chinese entities,” Gao said.

He called on the US to stop its wrongful behavior and make more efforts to create conditions for normal international trade cooperation.

Huawei has been increasing its 5G commercial contracts worldwide, with more countries giving the com

pany a vote of confidence. But it is facing security allegations from the US, which Huawei has said are unfounded.

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Liu’s article was published in Qiushi Journal, a flagship m

magazine of the Communist Party of China Central Committee. He said more efforts a

re needed to implement the proactive fiscal policy and boost efficiency this year.

Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.

Innovative financial tools will be introduced for debt swaps, and the indebted comp

anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea

d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.

“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this

round of debt swaps will not involve the government’s administrative orders, but depends on the ma

rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.

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