tween China and economies related to the Belt and Road Initiative ex ceeded $130 billion between 2013 and 2018, injecting new growth momentum into BRI-rela ted countries and contributing to recovery of the global economy, senior Chinese officials said on Monday. China’s direct investment in BRI-related countries grew by 5.2 percent a nnually on average to surpass $90 billion between 2013 and 2018, Song Lihong, an officia l in the Ministry of Commerce’s Comprehensive Department, said at a news conference. Song said that in the same period, China had received a total of $40 billion in inbound investment from BRI countries as two-way investment deepened.Read More →

President Xi Jinping underlined on Monday the need to shore up areas of weakness and carry out more targeted pove rty alleviation efforts in building the country into a moderately prosperous society in all respects. Xi, also general secretary of the Communist Party of China Central Committee and chair man of the Central Military Commission, made the remark while presiding over the fourth meeting of t he Central Committee for Financial and Economic Affairs. Xi is head of the committee. The meeting stressed the importance of achieving targets for poverty alleviation across the boar d and focusing efforts on areas of extreme poverty, according toRead More →

 car sales and expand the supply of automobiles as part of its latest efforts to boost auto consum ption, Gao Feng, the spokesperson for the Ministry of Commerce, said at a press conference early this month. By the end of 2018, China’s six cities namely Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou and Tianijin carried out the purchase restriction of fuel-powered passenger cars, said Shao Jiang, an analyst at Everbright Securities. “If thes e cities double their rising number of new cars, it could bring a 2.8 percent year-on-year growth for the wh ole passenger car market.”Editor’s Note: The eight explosions in Sri Lanka on Easter SundayRead More →

nister, said on Tuesday that Islamic extremists staged the attacks in Sri Lanka in retaliation to the shootings in two New Zealand mosques in March that claimed 50 lives. And the blasts lay bare several threats confronting the whole world. First of all, the reflux of IS terrorists formerly active in Iraq and Syria to countries that have not su ffered large-scale serial terrorist strikes in a while poses a serious threat to their people’s safety. Sri Lanka had enjoyed relative peace after the Liberation Tige rs of Tamil Eelam, a militant organization demandin g a separate homeland for Tamils in northeastern Sri Lanka, wasRead More →

The call made by Xi Jinping, general secretary of the Communist Party of China Central Committee, for more study of the May Fourth Movement, will help younger generations better understand the value of its spirit, observers said. Xi underlined the need to strengthen studies of the May Fourth Move ment and its spirit during a speech at the group study session of the Political Bureau of the C PC Central Committee on Friday, according to a news release issued on Saturday. This year is the 100th anniversary of the movement launch ed by young intellectuals and participated in by people from all walks of life.Read More →

the explosion sites, the police said.Television footage showed ambulances r ushing the injured to the Colombo National Hospital, the Batticaloa Hospital in the east and the Negombo Hospital on the outskirts of the capital where the explosions took place. There has been no claim of responsibility so far for the multiple blasts. In just one church, St. Sebastian’s in Katuwapitiya, north o f Colombo, more than 50 people had been killed, a police official told Reuters. Media reported 25 people were also killed in an attack on a church in Batticaloa in Eastern Province. Prime Minister Ranil Wickremesinghe called a national security council meeting atRead More →

Qiu Yanpeng (middle), deputy commander of the PLA Navy, attends a press confer ence for the upcoming multinational naval activity to mark the 70th anniversary of the People’s Liber ation Army Navy at the press center in Huanghai Hotel in Qingdao, Shandong province, Ap ril 20, 2019. About 200 journalists from home and abroad attended the press conference.Chinese Navy will send 32 warships and 39 aircraft to take part in a joint sea parade in waters near Qingdao. Nearly 20 ships from about 10 countries will participate in t he sea parade on Tuesday, deputy commander of the PLA Navy Qiu Yanpeng said. A SingaporeRead More →

A draft amendment to the Securities Law was submitted Saturday to a bimonthly session of the National People’s Congress Standing Committee, China’s top legislature, for a third reading. The latest revisions to the law include rules on the newly-devised science and technology inn ovation board, which will pilot a registration-based initial public offering (IPO) system. Under the current IPO system, new shares are subject to ap proval from the China Securities Regulatory Commission before being listed. Other revisions in the draft are made in light of new p rogress of reforms and new developments of the capital market. A draft amendment to the law wasRead More →

A threat to the viability of the current WTO dispute settlement system is the unilateralism and protectionism of the United States. Specifically, this mechanism is in crisis because the Unit ed States has prevented the appointment of new judges to the appellate body. Experts have warned that if th e appellate body were to shut down because of a lack of judges, global trade governance will be put back 20 years. Of course the WTO also needs to continually reforming itself so that it can keep up w ith the times, and many countries have put forward relevant suggestions. For instance, the European Uni onRead More →

have improved the company’s stocking and inventory processes. “Earlier we were reliant on the intuitions and experience of the local operation team. With the use of technology like AI and big data, we are getting more accurate answers.” As a larger and older retailer, Walmart has constantly worked with startups, said McMillon, citing the new Omega 8 platf orm that enables retail innovation startups to collaborate with Walmart China to create better services for customers. McMillon cited the example of a scanning ring developed by a starup for Walmart that shortens pickup time for JD Daojia orders to less than 10 minutes and impr ovementsRead More →