More steps needed to tackle debt problemscess shou

China has less motivation to further stimulate economic growth, but the government needs to search for more me

thods to control debt and reduce default risks, according to officials and economists.

China’s macroeconomic leverage ratio, or the total debt-to-GDP proportion, rose slightly in the first quarter, but the overall leve

rage level still remained stable, Huang Xiaolong, deputy head of the Financial Stability Bureau of the P

eople’s Bank of China, the central bank, said at a media conference on Wednesday.

Recent research from the Chinese Academy of Social Sciences s

howed that by the end of March, the macro leverage ratio climbed to 248.83 percent from 243.7 p

ercent in 2018, as the government utilized several easing policies to support GDP growth in the first three months

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Talks with Vanuatu PM China seeks no private interests

and scope of influence in developing relations with Pacific island cou

ntries, and will be good friends and partners trusted by them forever, Xi said on Tue

sday. Xi made the remarks while meeting with visiting Vanuatu Prime Minister Charlot Salwai in Beijing. The Chi

na-Vanuatu relationship has become a good example of relations between China and Pacific island countries, Xi s

aid, adding political mutual trust between the two countries keeps d

eepening and exchanges and cooperation in various fields continue to expand.

Xi said the country appreciates Vanuatu resolutely adhering to the one-C

hina policy, and supports it independently choosing the development path that suits its

national conditions. Xi called for strengthening the alignment of the development strategy of the Pacific island cou

ntry with the BRI and tapping potential for bilateral pragmatic cooperation.

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According to the ministry, China’s digital economy reach

ched a total volume of over 31 trillion yuan ($4.5 trillion), or 34.8 percent of its GDP, in 2018.

Yang Xiaowei, deputy head of the Cyberspace Administration of China, also called for more efforts to develop the homegr

own big data sector and highlighted that stepping up research and development is key to mastering core technologies.

Paul Romer, co-recipient of the 2018 Nobel Prize in economics and profe

ssor of economics at New York University, said he is impressed by China’s proposal in cyb

er sovereignty which he understands as: Each nation must be able to write and enforce its own laws that reg

ulate cyberspace, and ensure that cyberspace works to the benefit of everyone in the nation.

“China’s articulation and implementation of cyber sovereignty means it is

a chance for the world to see a different kind of organization for cyberspace, and a chance

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We must work together to ensure that big data, and the

technologies that it enables, are harnessed for the benefit of mankind while minimizing the risks to develo

pment, peace and security and human rights,” Guterres said in a congratulatory letter to the expo.

Miao Wei, minister of industry and information technology, said China has already made signif

icant progress in bolstering the big data industry with a string of big data platforms established in sec

tors such as manufacturing, commerce, finance, transportation and medical care.

“We will make a fresh push to integrate cutting-edge information technologies into the real econo

my, including establishing a national industrial data center, to better power the country’s sp

rawling manufacturing sector,” Miao said at the opening ceremony of the big data expo.

According to the ministry, China’s digital economy reached a total volu

me of over 31 trillion yuan ($4.5 trillion), or 34.8 percent of its GDP, in 2018.

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Both the digital industry and digitalization of other indu

 industries develop fast, and new sectors have been emerging, such as unmanned warehousing, facial recognition payments and new online-to-offline groceries.”

Meng also said that a new version of the nationally unified negative list for market access will be rolled out w

ithin the year. Illegal or implicit entry barriers and locally issued negative lists will be canceled, she said.

The Chinese authorities will also establish and refine mechanisms for adjusting the annually released

list when necessary, she said, adding that the list will better cope with the reforms to delegate power, streamline ad

ministration and optimize government services, and will better meet the needs of market entities for broader access.

Wang Yuanhong, deputy head of the Department of Economic Forecas

ting at the State Information Center, said the fast growth of high-tech industries and the

service sector reflects the ongoing upgrading of traditional industries and the optimization of C

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Server manufacturer Inspur Group has signed a strategic

 partnership with Tianjin to set up an AI research institute in the city. By opening the new institute

, Inspur aims to join the top ranks of Chinese AI powerhouses in their quest to attract global talent.

“We will step up our efforts to develop the AI sector in Tianjin, and will focus on fields i

ncluding cloud operating systems and cloud databases,” said Sun Pishu, chairman of Inspur.

he Ministry of Commerce urged the United States on Thursday to stop abusing the

concept of national security and export control measures, and it promised that China will take all nec

essary measures to resolutely safeguard the legitimate rights of Chinese enterprises.

The comments came after US President Donald Trump signed an executive

order on Wednesday that is expected to restrict Huawei from selling its products in the US.

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ons of people and reshape the physical world, and

countries should be mindful of these projects’ impact on the environment and inhabitants.

“It is encouraging that the government of China is taking proac­tive measures to ensure tha

t the development of the Belt and Road Initiative is risk-informed and sustainable,” she added.

“Disaster-proofing the world’s largest infrastructure initiative is a challenge, but achi

evable,” she said, adding that at the heart of this challenge lies great potential for innovation and creativity, suc

h as new disaster risk prediction and analysis, and disaster-resilient infrastructures.

Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said disas

ter risk reduction of natural hazards along the initiative is crucial for its success and sustainability.

Regions at the heart of the initiative, such as the Tianshan-Pamir Plateau, the H

imalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serious

disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.

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Noting that the uncertainties in the global economic env

vironment are also rising and there remain downward pressures on the domestic

economy, Li called for both attention and confidence from the entrepreneurs.

Related departments should follow the guidance of Xi Jinping Though

t on Socialism with Chinese Characteristics for a New Era, invigorate the market thr

ough deepening reform and opening-up and ensure the stable growth of the economy, Li said.

He said that tax reduction is the key to improving the business enviro

nment and invigorating the market, which will not only stabilize growth and employment bu

t also encourage companies to invest more in innovation for long-term development.

Tax reduction is a comprehensive policy that requires governmen

t departments to enhance coordination as they implement various policies, Li said.

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Besides catering to fans, the festival has also acted as an indus

With participants from 86 countries and regions, this year’s event attracted nearly 5,800 industry insiders from 2,645 companie

s and organizations, who signed 1,368 deals and cooperation agreements worth up to 14 billion yuan.

A report released during the festival says Chinese cinemas screened 34 domestic animated features that grossed 1.62 billi

on yuan in total in 2018, a rise of 13.3 percent on the output and a 24.5 percent increase in revenue, respectively, compared to 2017.

For many international filmmakers, China‘s expanding cartoon and animation industry has gripped their attention.

“I think Chinese animation production is already headed in a great direction,” says Joe D’Am

brosia, senior vice-president of original programming and general manager of Disney Junior.

As one of the guest speakers of the festival’s master classes, D‘Ambrosia joined Disney in 2011 and has played a cr

ucial role in steering the company to the top of preschool TV networks in the United States consecutively from 2013 to 2018.

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Lofty goal draws elite satellite students to China

Socheat Chea, a Cambodian student with big dreams, wouldn’t attract much attention if he

walked down a street in his country since he doesn’t talk a lot and is a bit shy around strangers.

His classmate, Edgar Moreno Pena, who is from Venezuela, is more adept at socializing. He has

a vocabulary of more than 200 Chinese words, tells shopkeepers on Beijing streets pia

nyidian (give me a bigger discount) and uses Chinese-language food-delivery apps on his mobile phone.

“I often do shopping at Taobao and JD,” he said, referring to China’s two most popular online shopping websites.

Although the two foreign students have few similarities in their perso

nal backgrounds, they share a common goal at the Shenzhou Institute in northern Be

ijing: They are trying to learn from Chinese teachers how to design, build, operate and maintain satellites.

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