That is something we need in the moment of the 21st century,”

Solana hailed the development of relations between China and the Europea

n Union, saying they could work together to uphold the existing international system.

“I think cooperation between China and the European Union is very impor

tant. And fortunately, that relationship now is in a good direction,” said Solana, who se

rved as the EU’s high representative for common foreign and security policy between 1999 and 2009.

He expected China to play a bigger role in the upcoming Group of 20 summit in Osa

ka, Japan, saying that leaders of major powers should sit down and have productive talks.

He hailed the Belt and Road Initiative, and said it is a good platform for international cooperation.

www.renrencanzheng.org

No quick fix for decades-old Israeli-Palestinian enmity

Concern over the recent escalation of tensions between Palestinians and Israelis have been temporarily relieved after Palestin

ian leaders in Gaza agreed a cease-fire with Israel early on Monday. Right now, nothing is more important than u

pholding the cease-fire as the atmosphere between the two rivals has not been so combustible since 2014.

Since Friday, militant groups in Gaza have fired more than 600 rockets a

nd other projectiles at southern Israeli cities and villages, killing four Israeli civilians, wit

h Israel retaliating with air and artillery strikes, killing 27 people, including 14 civilians, in Gaza.

The latest border clashes, the most deadly since 2014, have occurred against the backdrop of the changing Middle East po

licy of the United States, which has seen the US drop any pretense of impartiality and make clear its support of Israel.

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Only toward the end of the last century, global econom

 integration-trade, investment and finance-began benefiting large emerging and developing econ

omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m

ust also serve poorer and faster-growing economies, which today account for most of the global growth.

So, by flirting with trade protectionism and punitive tariffs on imports, adva

nced economies are seeking to implement the wrong policies at the wrong time. As the adv

anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco

nomies is not a win-lose game, because it benefits the advanced economies, too.

In the aftermath of the 2008 global financial crisis, all major advanced econom

ies would have faced another Great Depression without the support of large emerging economies, particularly Ch

ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.

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said that “all military units deployed in the eigh

The People’s Bank of China (PBOC), the central bank, has upgra

ded the fifth edition of the renminbi (RMB), the Chin

ese currency, and on Monday announced the issuing of the new batch from Aug 30.

The new issuance will include notes with a face value of 50 y

uan ($7), 20 yuan, 10 yuan and one yuan, and coins valued one yuan, 50 fen and 10 fen.

Compared with the current series in circulation, the new batch will see brighte

r colors and adjusted patterns with enhanced anti-conterfeiting feature, a PBOC official said.

The five-yuan note will not be in the upcoming issuance as new technologies on the note are still under testing. The 100-y

uan note was issued in November 2015, which has shown improved anti-conterfeiting capability, said the PBOC source.

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In 2018, Huawei spent $15.3 billion on technology R&D

ranking in fourth place following Samsung, Google’s parent Alphabet and Amazon. Data als

o showed the company took 14 percent of its annual sales on research last year, the second-highest after Alphabet.

Huawei’s R&D spending totaled 480 billion yuan ($71.3 billion) over the past 10 years, ac

cording to its annual report. Besides, the tech behemoth achieved 721.2 billion yuan in global sales in 2018, a 19.5

percent increase year-on-year, and net profit reached 59.3 billion yuan, up 25.1 percent compared with a year earlier.

Smartphone sales from the company gained 348.9 billion yuan las

t year, a 45.1 percent rise year-on-year accounting for 48.4 percent of total revenue.

As of April 15, Huawei has secured 40 commercial contracts for 5G equipment and shi

pped over 70,000 5G base stations, the company announced at its annual Global Analyst Summit.

www.weilutu.cn

The annual report estimates that total electricity cons

umption in 2019 is expected to grow 5.8 percent. Demand for coal is expected to hit 3.95 billion

tons, with the power sector still playing a significant role in the consumption of coal.

Consumption of oil is predicted to reach 620 million tons, up 1.6 percent year-on-year, while

the growth rate for natural gas consumption is expected to slow, with an annual consumption of 310 billi

on cubic meters in 2019, up 10.4 percent year-on-year, it said.The 2019 Beijing International Horticultural Ex

hibition (Expo 2019 Beijing) opens to visitors Monday, and will showcase a wide variety of flowers, fruits, vegetables and

herbs from across the world, including more than 300 rare and endangered plant species.

Nearly 20,000 volunteers across media, translation and giving directio

ns will work at the 162-day event, running April 29 – Oct 7. Click to watch their greetings in s

even languages: Chinese, English, Russian, French, German, Spanish and Japanese.

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China looks to strike a balance between meeting finan

ancing needs, sustainable development and debt sustainability, according to Finance Minister Liu Kun.

“We will build a high-standard and high-quality financing system to s

upport long-term and sustainable BRI investment while preventing debt risks,” Liu said.

He suggested promoting financing cooperation for projects in

third-party countries, equity investment and attracting more private funding.

Enhancing debt and risk management is a key consideration for deepening BRI financi

ng cooperation, said Yi Gang, governor of the People’s Bank of China, the central bank.

“The debt issue in developing countries should be treated objective

ly. If debt growth is accompanied by infrastructure improvement, enhancement of people’s liveliho

ods and productivity and poverty reduction, it will be beneficial for the sustainability of long-term debt,” Yi said.

www.ex187.cn

China does not own the Belt and Road Initiative. Nor doe

 it want to. From the start, Beijing has been accentuating the desirabi

lity of voluntary participation, consultations on equal footings, a joint construction proces

s and fair sharing of subsequent dividends.VLADIVOSTOK, Russia – Top leader of the Democratic People’s Rep

ublic of Korea (DPRK) Kim Jong-un arrived in Russia’s Far Eastern city of Vladiv

ostok in his train on Wednesday for the first meeting with Russian President Vladimir Putin on Thursday.

Kim’s armored train stopped at the Khasan railway station

of the territory at 10:30 am local time (0030 GMT) and he was rec

eived by the territory’s governor Oleg Kozhemyako, Russian Minister for the

Development of the Far East and the Arctic Alexander Kozlov, Russian Deputy For

eign Minister Igor Morgulov, and Russian Ambassador to the DPRK Alexander Matsegora.

“I am glad to be on Russian soil,” said Kim, according to the pr

ess release. Kim said that this will not be his last trip to Russia.

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The first draft also improved rules on developing a m

ulti-layer capital market system, strengthening investor p

rotection, promoting securities industry innovations and enhancing regulation.

New revisions were submitted for a second reading in April 2017 to

improve regulation on such areas as stock trading, acquisitions of listed firms, information disclos

ure and investor protection. The second draft also demanded the State Council to gradually advance the IPO syst

em reform in accordance with authorization granted by the top legislature.

Note: The following article is taken from the Chinese-language “Commentaries on International Affairs”.

On Thursday, the World Trade Organization (WTO) release

d a panel report on the case the United States lodged in December 2016 against China for its

use of tariff-rate quotas for wheat, rice, and corn. The WTO panel ruled that China’s administration of tariff-rate quo

tas violated its commitment to administer them transparently, while rejecting

the appeal by the American side which demanded that China release the information on tariff-rate quotas.

www.exdkjp.cn

hinese ‘can help Notre Dame revival’stunned France wou

hina can lend a helping hand in the rebuilding of Paris’s Notre Dam

e Cathedral, whose spire and roof were destroyed by the huge fire that engulfed the 8

50-year-old Gothic building on Monday evening, said a historian from Cambridge University.

Alan Macfarlane, a historian and professor emeritus at King’s College, said that give

n China’s widely acknowledged engineering and construction expertise, “it would be a very appreciated gesture if the pe

ople of China offered their help in whatever way the French thought appropriate to rebuild a symbol for all of our world”.

“The Chinese have built the largest airport in the world, a far larger job than rebuilding

Notre Dame, in less than three years,” Macfarlane said. “They could be of immense help.”

President Xi Jinping sent a message of support to French President E

mmanuel Macron on Tuesday, expressing sincere condolences to all French people.

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