In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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to see that with the right structure, we can get tons of be

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

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

“5G is not just a faster 4G. It will fundamentally reshape how enterprises run busine

sses and overhaul a wide range of industries by using data to create more value,” Lu said.

Foreign Ministry spokesman Lu Kang reiterated on Monday that China

has been holding a consistent position in trade frictions with the United States, say

ing the differences should be resolved through friendly consultations and negotiations.

Lu’s remarks came as US President Donald Trump said in Japan that the US isn’t ready to make a trade deal with Ch

ina, but he’s leaving open the possibility that the two nations could strike an agreement someday.

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ourage the innovation of original technologie

 and enhance intellectual property right protection, Xi said. He called on

the governments to build a stable, fair and transparent business environment, and to he

lp private enterprises and small and medium-sized companies to address their difficulties in finance.

Governments in the central region should attract advanced manufacturing enterprises moved from the coastal reg

ion, take part in Belt and Road international cooperation, enhance the protection of the environment, create m

ore jobs for poverty reduction and make relevant policies to support the rise of the central region, Xi said.

hina will further open and reform its markets, as well as facilitate a predictable busin

ess environment to help companies improve their ability to respond to risks, said the Ministry of Commerce.

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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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then to 0.20, together with the inclusion of Mid Cap China

 A shares, in the final step as part of the November 2019 Semi-Annual Index Review, according to the report.

About 109 companies will be added and three removed from the MSCI China A Onshore Index, whic

h will take place as of the close of May 28, and the three largest additions to this index would be the

Wens Foodstuff Group A, Contemporary A and Shenzhen Mindray A, the MSCI said.

In addition, the MSCI China A Onshore Small Cap Index will see 503 stocks added and 49 cut, with most of the new addi

tions coming from newly eligible ChiNext stocks, according to an official statement of MSCI.

MSCI also updated the list of China A Mid Cap securities that may potentially be adde

d to the MSCI China and the MSCI Emerging Markets Indexes as part of the third step of th

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he premier attached great importance to such measur

asures as reducing the rate of the value-added tax, increasing the

tax exemption for research costs and reforming individual income tax.

The measures should not only ease the tax burden for manufacturing com

panies but also reduce taxes for construction enterprises, which provide a great num

ber of jobs, Li said, adding that all industries should be covered by the benefits of tax cuts.

Li pledged more efforts to urge government departments and State-owned e

nterprises to pay off their debts so that the effects of tax reduction are not diminished.

The government will take further measures to deepen reform and opening-up, en

courage innovation and entrepreneurship and promote fair competition, Li said, adding that com

panies should also seize the opportunity to promote high-quality growth.

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Winter Games: 1,000 days to gontdown activity unfolds in Be

With 1,000 days to go before the 2022 Winter Olympics, pr

eparations are well underway for a successful and sustainable event.

Built for the 2008 Summer Games, Olympic Park in Beijing’s north

ern downtown area entered the spotlight again on Friday as the country began its cou

ntdown. The 2022 Winter Olympics, will be held in Beijing and co-host Zhangjiakou in adjacent Hebei province.

As the symbolic “1,000” flashed on a digital clock on the park’s Lin

glong Tower, a broadcasting facility for the 2008 Games, expectations were heig

htened for the winter sports extravaganza, which will run from Feb 4 to 20 in 2022. Three zones will feature athl

etic events — downtown Beijing, the city’s northwest Yanqing district and Zhangjiakou’s mountain district Chongli.

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The legislation states that Washington should condu

ct “regular sales” of “defense articles” to Taiwan and back its participation in international organizations.

“We urge the US side to keep its promise, abide by the one-­China policy a

nd the three joint communiques, and block the bill’s progress,” Geng said.

He urged the US to “appropriately handle the Taiwan question to avoid serious da

mage to Sino-US cooperation in key areas, and the peace and security of the region”.

Experts said the bill will further damage Sino-US relations, and the confr

ontational approach taken by the US against China will damage regional peace and security.

Yuan Zheng, director of US foreign relations research at the Institute of American Studies under the Chinese Academy of

Social Sciences, said the recent passage of US naval vessels through the Taiwan Straits, arms sales and

political support to Taiwan are meant to help Taiwan separatists and pressure Beijing.

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They maintained that Belt and Road construction wi

l make positive contributions in implementing the 2030 Agenda for Sustainable Development of the United Nations.

The leaders also pledged to pursue trade and investment liberalization

and facilitation, reject protectionism and unilateralism and uphold the rule-based mul

tilateral system with the World Trade Organization at the center, according to the communique.

Xi told reporters that the consensus reached by the leaders has set the right course for the development of the BRI.

Our shared goal is that we work together to make the interconnectivity among various countries more efficient, foster mo

re robust economic growth, develop even closer international cooperation and enable people to live a better life, he said.

Xi also said BRI cooperation projects will be market-based. To ensure s

ustainable development, the leaders agreed to promote a level playing field for business com

munities and create a nondiscriminatory business environment, he said.

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Xi added that the two countries should jointly prom

mote the building of the Asia-Pacific free trade zone and maintain the multilateral trading system.

He said China and Latin American countries should support each other, make full use

of their complementary advantages and achieve win-win cooperation. The two sides should pursue comm

on development and jointly build a community with a shared future for China and Latin America, Xi added.

The Chilean president said the Belt and Road Initiative, put forward by Xi, has show

n the glorious history of the ancient Silk Road and promoted exchanges between different cultures in the new era.

Chile supports the building of the Belt and Road, and it hopes t

o learn from China’s experience in innovative and green development, he said.

Pinera said Chile, which is dedicated to maintaining multilateralism and the multilateral t

rading system, would like to enhance coordination with China on regional and multilateral affairs.

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