es it a large exporter of manufactured goods to the US and

Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco

nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa

tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.

To make up for the increasing savings gap, the US needs to introduce and use more foreign ca

pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g

rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.

What is really questionable is that, despite its contempt for over-regulation of the economy, the US administration has been tryi

ng to impose regulations on international trade, even for its trade partners’ domestic economic management.

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Some companies find niche markets in the industry by

producing specialized bicycles for health, sports and slow urban lifestyles.

Century-old bike-maker Shanghai Phoenix Enterprise (Group) Co Ltd and Tianjin Flying Pigeon Cycle Development Co are

transforming to produce sports and leisure bicycles based on the fast growth for these types of products.

The output of such bicycles priced above 1,000 yuan saw an 18.5 percent year-on-year increase to 8.43 millio

last year, up 10.5 percentage points over the previous year and accounting for about 11.5 percent of the total.

Other companies including Bike8, Onelap and Incolor continue to manufact

ure innovative bicycles by improving the intelligent and network connecting levels of their products

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The legacy plan for the Olympic and Paralympic Win

ter Games was unveiled in February. Plans aim to optimize the

venues’ designs and operations to be beneficial to the hosting regions after 2022.

“Here, you have the venues from 2008 that are going to be used in 2022 for a complete set of winter sports. This is a wonde

rful legacy story,” said Juan Antonio Samaranch, vice-president of the International Olympic Committee.

Powering all the 2022 venues using green energy while minimizing environmental impacts, while

planning for their post-Games operations, are key in venue preparation this year, Liu said.

To support the preparations financially, Beijing 2022 has signed nine domestic market

ing partners and four second-tier sponsors, while the Games’ licensing program, whic

www.pineapplehouse.cn

Core technologies to better drive digital shiftShijia and Hu

More efforts are needed to make breakthroughs in core technologies, advance infor

mation infrastructure construction and provide further impetus to the digital transformation of ind

ustries, said a senior official at the Second Digital China Summit, which opened in Fuzhou, Fujian province, on Monday.

Huang Kunming, a member of the Political Bureau of the Communist Party of China Central Committee and head of the Pu

blicity Department of the CPC Central Committee, called for more work to accelerate the research and de

velopment of 5G, as well as promote the building and application of the Beidou Navigation Satellite System.

Huang said achieving breakthroughs in core technologies should be the top pri

ority, with innovation fully pursued and intellectual property rights better protected.

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In the 1980s, the share of the US in the world econ

omy was more than 20 percent; in the past four decades, it has steadily

declined to 15 percent. At the same time, China’s share (in purchasing powe

r parity terms) has soared from 5 percent to about 20 percent. While the PPP indicators inflate the

pace of progress, the trend lines do herald a coming structural shift in the world economy.

China can foster the share of developing nations

In the future, the well-being of the advanced economies will de

pend on the rising living standards in less-wealthy nati

ons. And just as US leadership supported the role of the advanced countries in the 20th century world, Ch

ina has the potential to foster the share of emerging and developing countries in the 21st century.

In particular, the China-proposed Belt and Road Initiative can redirect domestic overcapacity and ca

pital for regional infrastructure development to improve trade and relations with Southeast and So

uth Asia, Central Asia, the Middle East and Europe-even across the Americas and Sub-Saharan Africa.

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A spokesman for Boeing Co said that the company

 was aware of the incident and was gathering information.

The charter company is contracted by the military for its twice-weekly “rotator” roundtrip

service between the US mainland and Guantanamo Bay, said Bill Dougherty, a spokesman f

China is concerned about protecting its own rapidly growing intellectual property, leading to increased reco

gnition of the issue’s importance, according to US citizens with business ties to the country.

Frank Wu, president of the Committee of 100, a nonpartisan leadership organization of prominent Chinese Ame

ricans in business, government, academia and the arts, said, “China has made great progress. China has its own inte

llectual property to protect. That includes both in the global marketplace and also internally.or the Jacksonville base.

It flies every Tuesday and Friday from the Naval Station Norfolk in Virginia to the Jacksonvil

le air station and on to Cuba. It then flies back to Virginia with a stop again at Jacksonville, Dougherty said.

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The company will consider adding employees, resear

rch and field development resources to expand in the Chinese market over the coming years, he said.

Ministry of Commerce spokesman Gao Feng said last month that the t

wo countries’ negotiating teams are hashing out the text of a deal, including an enfo

rcement mechanism, based on mutual respect and benefit. Both countries, the world’s two biggest eco

nomies, have been intensifying their consultations and aiming to break the deadlock in a timely manner.

In the ninth round of trade consultations, negotiators discussed tec

hnology transfers, protection of intellectual property rights, non-tariff measures, the servi

ce sector, agriculture, trade imbalances and enforcement mechanisms.

Trade between China and the US amounted to 815.86 billion yuan ($121.7 billion) i

n the first quarter of the year, an 11 percent year-on-year decline, according to the General Administration of Cus

toms. In March, Sino-US trade climbed 0.1 percent to 291.35 billion yuan, according to the administration.

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The Conference on Dialogue of Asian Civilizations, whic

will be held later this month following the proposal of President Xi Jinping, demonstrates China’s deep thinking and resp

onsibility for promoting the development of civilization in Asia and the world. The conference 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 “civiliz

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

om, 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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Guests share thoughts on president’s speech

What impressed me most is that President Xi highlighted the importance of sustainable d

evelopment. The hosting of the Horticultural Expo is the best chance to raise people’s attention to the conce

pt of sustainability, both in China and around the world.President Xi outlined his commitment to open and gre

en development as well as underlined China’s dedication to conserving the ecosystem now and for generations to come.

Xi’s call for countries to work together for the common goal o

f improving the global ecosystem aligns well with the Paris Agreement. This is an excellent foll

ow-on from the commitment outlined in the communique from the Belt and Road Forum.

In this communique, to which the UAE is a signatory, countries ag

reed that cooperation will be open and clean, with green development promoted.

The expo attracted widespread global participation, and I think everybody will recog

nize China’s vision in green development and its resolve to build a green future.

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He called on the two countries to deepen all-aroun

 cooperation and build the comprehensive strategic par

tnership between China and Portugal to a higher-level, with broader vision and greater vitality.

Xi said the two countries should strengthen high-level exchanges and value th

eir respective core interests and major concerns based on mutual respect and understanding.

Saying China views Portugal as a significant partner in jointly building the Belt and Road, Xi called for the stren

gthening of bilateral cooperation in fields such as trade, investment, energy and infrastructure.

He also urged the two nations to strengthen coordination on major inter

national issues, firmly uphold the multilateral system and build an open global economy.

Xi added that China stands ready to work with the European nation

to advance more productive cooperation between China and Portuguese-speaking countries.

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