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The emerging service sector also grew very fast, Meng said.
In April, the information transmission industry, along with software and inform
ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.
Online retail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m
onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.
She said the transformation of traditional industries is speeding up as they combine with information technology.
“Through implementing national big data and internet plus strategies, internet, big da
ta, and artificial intelligence technologies have been widely used in China’s real economy,” she said
American Soybean Association President Davie Stephens said on Tuesday.
President Donald Trump threatened in a tweet on Sunday to increase tariffs.
Stephens, a grower from Clinton, Kentucky, said that US farmers are in a tough situation, and with depressed prices
and unsold stocks forecast to double before the 2019 harvest begins in September, farmers urgently need the China market.
“We need a positive resolution of this ongoing tariff dispute, not further escalation of tensions,” he said in a release posted on the ASA web site.
Nicole Kaeding, vice-president of federal and special projects at the Washington-based Tax Foun
dation, said that if the Trump administration follows through on the president’s threat, it’s US taxp
ayers, not Chinese taxpayers, who will pay the price — thanks to higher prices and fewer job opportunities.
oing supply-side structural reform, as it is still dominated by the 268-trillion-yuan banking system, the analysts said.
The restructuring process will accelerate as more foreign capital
moves in, which can boost competition in the domestic market, the analysts added.
In the medium term, continued financial reform and more opening-up measures co
uld boost capital inflows, said Lillian Li, a vice-president at rating agency Moody’s.
But trade disputes between China and the United States and uncertainty over monetary policy in global markets may dam
pen capital inflows, and the pace of capital inflow is likely to fluctuate in the near term, she said.
Having the world’s second-largest equity market and the third-largest bond market, China will likely usher in more inte
rnational capital flows in the longer term, if the nation further liberalizes its financial system, she added.
ic and trade consultations, with a goal of implementing the consensuses President Xi Jinping and US President Donald Trump r
eached in December, said Xue Rongjiu, deputy director of the China Society for WTO Studies in Beijing.
China has made various moves recently to expand the new round of reform and opening-up — such as the approval of the Foreign Investm
ent Law in March and further facilitating trade connectivity under the Belt and Road Initiative. It will cont
inue opening its market in a proactive, steady and orderly manner, in accordance with its own development ne
eds and its own pace and timetable, to benefit Chinese and global consumers across the world, said Tu Xinquan, a pro
fessor of international trade at the University of International Business and Economics in Beijing.
James Collins, CEO of Corteva Agriscience, the agricultural division of US-bas
ed DowDuPont, said he hopes the two countries will reach a positive resolution, to benefit both countries and the re
st of the world. Collins said his firm was “not so much affected” in the short term by China-US trade tensions.
of cooperation, defined key areas and strengthened the mechanism to seek high-quality development of the BRI, he said.
Leaders reached wide-ranging agreement on high-quality cooperation on the BRI at the leaders’ roundtable on Saturday after an i
n-depth exchange of views on issues such as connectivity, policy integration and sustainable development.
They supported comprehensive infrastructure connectivity as a way to foster economic growth and to build high-q
uality, reliable, resilient and sustainable infrastructure, according to a joint communique issued after the roundtable.
All parties involved supported strengthening synergies in development policies using the principle
of extensive consultations, joint contributions for shared benefits and building even closer partnerships, the joint communique said.
The leaders also upheld green and sustainable growth and agreed to enhance cooperation in areas such as environ
mental protection, circular economy and clean energy, according to the communique.
last year. Every day, an average of 5.5 million people use the nation’
s high-speed trains, accounting for nearly 60 percent of daily users of the country’s rail network.
The State-owned rail car manufacturer CRRC Corp, the world’s largest train maker, had sta
rted developing a new-generation of bullet train that will operate at 400 kilometers per hour.
A preliminary report issued on Thursday by Ethiopian officials found that a malfunctioning sensor sent incorrect inform
ation to a Boeing 737 Max 8 jetliner, triggering an anti-stall system that began a chain of events that ended with th
e plane nose-diving into the ground, killing 157 people on March 10, the Associated Press reported.
Boeing has acknowledged that the sensor malfunctioned in the Ethiopian Airlines 737
Max jetliner, triggering the anti-stall system when it was not needed, the AP reported.
In addition, CRRC is designing two types of maglev trains-a 600 km/h high-speed version and a 200 km/h medium-speed ver
sion. Designers said the company expects to put them into service sometime around 2021.