Chinese exporters have from 20 to 50 percent of the

 US market in other low-value-added markets, plus electrical machinery and equipment, mechanical

appliances, and iron and steel. In most other categories, China has less than 20 percent of the US market.

China also assembles and then exports a lot of phones, computers and other gadgets to the US. But, most of the profits and

wages go to Japanese or South Korean component producers or US-based designers. For example, China ma

kes less than $9 from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.

It’s a good thing that China is no longer a low-wage country. Most Chinese

are much better off than they were even 10 years ago. But it does mean that these lo

w-skilled, labor-intensive industries will be moving to less-developed nations. US tariffs on such products will only se

rve to hasten the transition to higher value-added industries that China has to make anyway.

www.shoppingfair.org

ommunication key to shared future for mankind

The Conference on Dialogue of Asian Civilizations, which will be he

nth following the proposal of President Xi Jinping, demonstrates China’s

deep thinking and responsibility for promoting the development of civilization in Asia and the world. The conferenc

e will have great and far-reaching significance to the construction of a community of shared future for mankind.

The history of humanity is one of the coexistence and joint development of multiple civilizations. In his article on excha

nges among civilizations and mutual learning, published by the Qiushi journal on May 1, Xi wrote that “civil

ization becomes colorful because of exchanges, and abundant because of mutual learning”. He urged nations to “seek

wisdom, absorb nutrition from different civilizations, provide the people with spiritual support and comfort for thei

r soul, and join hands to resolve common challenges of various kinds confronting human beings”.

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Xi’s remarks will guide younger generations in taking his

tory as a mirror, and combining their personal ideals with the dream of national rejuvenation, Hu Xianzhong, a senior re

searcher at the China Youth and Children Research Center, said in an article published by China Youth Daily on Sunday.

Since the movement began nearly a century ago, the country’s youth

has been collectively marching with the times and the people under the leadership of the C

PC-whether in periods of revolution, construction, or in the nation’s campaign of reform and openingup, Hu said.

As the centenary of the movement draws near, a good understanding of its history will make yout

hs know more about why their futures are closely connected with the rejuvenation of the Chinese nation so that

they will find their niches and play bigger roles in the country’s socialist cause, he added.

Chen Yuhao, a postgraduate student at the U

niversity of International Business and Economics, said the spirit of patriotism, progress, democracy and s

cience is still the core value of Chinese youth, and should be upheld and carried forward in the new era.

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Once completed, Tianqin will become an important

 tool to search for and detect black holes of all sizes and wavelengths in the n

ext two decades,” Wu Qingwen, a professor at the School of Physics of Huazhong Uni

versity of Science and Technology in Wuhan, Hubei province, said on Thursday.

On Wednesday, the Event Horizon Telescope, a global array of e

ight ground-based radio telescopes, revealed the first-ever image of a black hole.

Wu was one of the more than 200 astronomers worldwi

de involved in the EHT collaboration, which captured the first vi

sible representation of what are considered the most extreme objects in the universe.

International collaboration is vital for astronomical observations, Wu said.

yt178.cn

The Temburong Bridge, the largest infrastructure

unei’s history, will become the country’s longest sea-crossing bridge with a total length of about 30 km. It is scheduled to open to traffic by the end of November 2019.

The CC4 section of the bridge is constructed by China State Construction Engineering C

orp. At around 11.6 km of the 11.8 km-long section will be a land viaduct traversing the mangrove swamp of the

Labu Forest Reserve, the company has established a set of strict safety and green construction evaluation systems to mee

t the high demand for environmental protection and cope with unprecedented difficulty in construction.

The Padma Bridge, 25 meters in width and 10 km in length, will

be built over the Padma River, one of the three major rivers in Bangladesh.

In June 2016, China Railway Major Bridge Engineering Group Co Ltd was awar

ded a $1.55-billion contract by the Bangladeshi government to build the core structure of the bridge.

The bridge is the country’s largest infrastructure project, as wel

l as the largest foreign bridge project undertaken by Chinese companies in terms of total cost.

Once completed, travel time between the capital, Dhaka, and the southern city of Khulna will be shortened to about three hours from 13 hours.

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The European leaders said they are glad to see a greater

 development in China, and the EU welcomes China’s willingness to share its development opportunities.

Chinese enterprises are welcome to invest in European countries, said the European leaders, adding that they will not adopt restrictive measures against specific com

panies, and are willing to provide a fair, open and transparent business environment for all foreign enterprises.

During the visit, Peng Liyuan, Xi’s wife, also attended a number of events aimed at deepeni

ng cultural and educational exchanges between China and the European nations.

As a special envoy of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for the advanceme

nt of girls’ and women’s education, Peng was invited to visit the headquarters of the UNESCO in Paris.

Wang said Peng’s visit highlighted China’s image of a hardworking, responsible maj

or country that actively participates in international education, gender equality and other affairs.

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We will receive listing applications after the regulations

are available,” Huang said. How soon the first company will go public on the new board depe

nds on different factors, including the preparatory progress of the companies and their investment banks, he added.

Enterprises qualified and willing to go public on the n

ew board are mainly concentrated in such areas as information technology, biomedicine, high

-end manufacturing and new materials, Huang said, adding that the bourse has done lots of research on them.

“They feature relatively high research and development expenditures, and rather good growth prospects.”

Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Scien

ce and Technology, expects that both the detailed rules and the list of the first companies involved are likely to come out in March.

“China is pushing the new board forward at full speed, which can foster innovatio

n-oriented growth through inclusive listing rules and offset this year’s economic headwinds,” Dong said.

Yi said the new board aims to better serve innovation-orie

nted enterprises and will serve as a prelude to capital market reforms of a broader scope.

The commission will carefully evaluate the effect of various reform and innovation m

easures on the new board. Based on that, fine-tuning measures for ChiNext and the National Equities Exc

hange and Quotations system can be advanced in a coordinated way, Yi stressed.

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i said preventing and defusing financial risks, especially

  systemic financial risks, are the fundamental tasks of financial work, calling for accelerated construction of the fina

ncial market infrastructure and advanced efforts to nationalize key information infrastructure in the sector.

  He also urged solid statistics in the financial sector and improvement in the warning system and rules on information disclosure and management.

  Education and supervision of senior officials of financial institutions and regulators sh

ould be enhanced, and more should be done to fight corruption in the financial sector, Xi said.

  He called for dynamic supervision of domestic and cross-border capital flow to enable financial watchdogs to fully monitor all flows.

  Xi said tasks for the reform and opening-up of the financial sector should be well implem

ented, calling for the preparation and the rolling-out of new reform and opening-up measures based on

the latest development of global economy and finance as well as the strategic needs of China.

  Reforms including revamps on market access system and trading regulations should be deepened, and regulators should take a two-pronged appr

oach of enforcing both macro-prudential management and micromanagement of behaviors, he said.

  He said those causing major financial risks due to their breaches such as lax regula

tion, cover-ups or decision-making failures must be held accountable and face serious punishment.

  Efforts should be made to address the current situation where the costs of legal and

regulatory breaches in the financial sector, especially capital markets, are too low, Xi said.

  Xi urged enhancing the global competitiveness of China’s financial sector, elevating the two-way opening-up to a highe

r level and beefing up capabilities of financial management and risk prevention and control amid greater opening-up.

www.qiancengdian.cn

Such a hegemonic mentality actually poses a threat to the

 world’s peaceful exploration of space and the peaceful exploitation of it for the benefit of all people on Earth.

It is with this mentality that the report catalogs and details supposed threats Russia and China may pose to the US in space.

For the US, there is no justice and fairness when it comes to its relations with other co

untries, especially when it assumes that its dominance in a particular area is being challenged.

Those who have written the report have listed threats that are anything but real. The

US assumptions about the threats only serve to justify what it wants to do. I

n other words, the US is only making a case for maintaining its dominance in space technology.

The “Space Force” the US administration has proposed, which will see huge amounts of reso

urces devoted to pushing the US military capabilities in space, is what it really intends to achieve by p

ositing that other countries with space technology pose a threat to its national security.

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Noting attention from the CPC Central Committee to t

 old towns and shanty areas, Xi said that the Party aims to create a more comf

ortable and better living environment for the people and solve pro

blems they care about most so that they can enjoy modern life even in old hutong areas.

After chatting with residents, Xi went to a property service center to visit staff and community workers.

On the way back, Xi dropped in on a restaurant, chatted with the owner and some customers and wished them good luck.

Xi also called on a nearby express delivery station and visited the deliverym

en who were on duty, stressing that priority should be given to solving employment problems and creating more jobs.

At 3:30 p.m., Xi arrived at the Shougang Park in Shijingshan District, the seat of the Beijing O

rganizing Committee for the 2022 Olympic and Paralympic Winter Games, to learn about the preparation for t

he Games and the planning and construction of the venues and infrastructure.

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