There are signs that the central government will not cha

ange its resolution to control house prices, Zhang said, adding that in the future the real estate market will continue to crack down on speculation.

On May 11, Suzhou tightened housing policies further, China Daily ea

rlier reported. The down payment ratio for a family’s first home purchase has been rais

ed from 20 percent to 30 percent.China may grant official 5G licenses, instead of the interim licenses prev

iously planned, to telecom carriers this year and is likely to start commercial use of the superfast wireless technology nat

ionwide in the near future, possibly as soon as October, according to people familiar with the matter.

Newly built property in certain parts of the city cannot

be traded for a three-year period after purchase, and for five years in the case of pre-owned property.

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the country will basically realize rural and agricultura

al modernization and ensure that both urban and rural residents enjoy equal public services.

By the middle of this century, digital villages will be completely built nationwide to advance rural revitalization.

To fulfill such targets, the country will accelerate the constructi

on of IT infrastructures in rural areas, upgrading rural internet facilities and information services.

More efforts will be made to boost the rural digital economy, with wider use of digital techno

logies in agriculture and the development of e-commerce and various emerging creative industries in rural regions.

While providing more support for rural technological innovation, the co

untry will strengthen ecological protection in rural areas with digital technologies.

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In the past several months, China has announced and

started to implement a “negative list” program that allows foreign co

mpanies to have 100 percent ownership in investments in all areas of the economy, excep

t for a small number of areas, such as telecoms and defense, that are explicitly prohibited.

Also, foreign investment has been simplified by creating a one-stop regulatory shop and a single application process.

These new policies will lead to greater competition within China, forcing C

hina’s companies to become more efficient and to produce higher quality products.

The Chinese government has also recently announced tax cuts and financial regulations desi

gned to help private companies. This will hasten the ongoing transition to a market-driven economy.

Most Chinese State-owned enterprises are not relevant to trade negotiations. Many are in non-tradable sectors such as p

roperty development, infrastructure, or concrete. Others are basically public utilities in telecoms or power.

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As the world’s second-largest movie market with a grow

th rate of more than 9 percent three years in a row, the Chinese film market is extreme

ly open and inclusive with outstanding movies from around the world, fine works of Hollyw

ood in particular, being screened in China even before they are shown in other countries.

This shows China’s decision to open up its film market in the trough in 1995 was absolutely right. Since then the quota for Hollywo

od movies has been significantly raised from the initial 10 films a year. The opening up of the Chinese movie ma

rket proves that the more open and inclusive a film market is, the higher the number of good films it will generate o

wing to the active and beneficial exchanges with the world’s most advanced filmmaking countries.

The remarkable performance of about a dozen Chinese movies in recent

years makes it clear that well-made films that showcase Chinese culture and touch Chin

ese people’s hearts could not only become smash hits but also help spread Chinese culture. Which g

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The overall stability of China-US relations over the pa

four decades has been a blessing to not only our two countries, but the whole world,” said Cui Ti

ankai, Chinese ambassador to the US, in his remarks during the awards presentation.

“And the essence of the 40-year story is amity between the peoples, which lays the foundation for

and shapes the future of our relations,” he said, adding that the stories shared by peoples from the two cou

ntries through the My China Album series will always “be a source of inspiration and motivation for us”.

Hundreds of US citizens participated in the series from Feb 6 to April 19, sharing their personal stories about China thro

ugh photos and captions. Ten of the participants were recognized for their genuine and touching stories.

“I was so honored to win first place in this year’s My China Album,” said

Max Horne, an incoming Harvard University freshman who visited Yunnan province years a

go and studied the Naxi culture, a local ethnic group. “There’s endless culture for us to appreciate.”

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In the years since, the country has continued to maint

tain a breakneck pace of economic development, which has brought booming economic prosperity.

Unfortunately, it has also brought a deteriorating environment. Seeing heavy smog, for ex

ample, many people feel that a worsening environment will destroy the happiness brought by economic growth.

Since 2012, the new leadership under President Xi Jinping has put forward a series of ecol

ogical ideas. On Sunday, Xi said at the opening ceremony of the exhibition that “green mountains and cle

ar waters are indeed mountains of gold and silver, and environmental improvement means great productivity”.

This idea, dubbed the theory of two mountains, enjoys immense popular support in China.

Xi, who is also general secretary of the Central Committee of the Communist Party o

f China, urged officials at all levels never to sacrifice the environment for economic growth.

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China’s pledges included shortening its negative lis

 for foreign investments, opening up more sectors to foreign busines

ses, guaranteeing fair competition and planning new free-trade zones and ports.

Sourabh Gupta, resident senior fellow at the Washington-based Institute for China-American Studies, specifically praise

d the new Foreign Investment Law-passed in March by China’s national legislature and effective in 2020-which he s

aid is “a farsighted piece of legislation” that “will firmly usher in a new round of reform and opening-up”.

“Strong measures to deal with political, regulatory and administr

ative noncompliance are envisaged. A robust working mechanism to promptly address fo

reign businesses’ complaints is also envisaged,” said Gupta, who believes the prov

isions are a big step in assuring foreign businesses that the playing field is leveled in China.

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The telecoms leader will also invest $300 million

annually to support academic research on basic science, technology and technological innovation, said Xu Wenwei, Hu

awei’s director of the board and president of the company’s newly established Institute of Strategic Research.

Huawei posted first quarter revenue of 179.7 billion yuan last Monday, a year-on-year growth of 39 percent.A new burst of messa

ging against China has been unleashed again by Australian newspapers and the Four Corners pro

gram of the Australian Broadcasting Corporation, giving the impression that hostile forces are threatening Australia. In Ma

ch, former Australian foreign minister Gareth Evans said, “a new form of Sinophobia is emerging”. He said this is on

e of the reasons Chinese-Australians are under-represented in senior leadership in Australia.

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Oh Ei Sun, a senior fellow at the Singapore Institut

e of International Affairs, noted Xi’s emphasis on high-quality development, free t

rade and people-to-people bonds, “all of which are sorely needed around the world”.

“The shift toward high-quality development is a natural extension of what China has been doing for the past few ye

ars. Now that the BRI is five years old, it’s about time to upgrade quality joint development,” he said.

“China is trying to address the concerns that have been raised sinc

e the last Belt and Road Forum two years ago. One of these concerns is the need for infr

astructure projects to be more responsive to the local circumstances of BRI member countries.”

Duncan Freeman, a research fellow at the EU-China Research Centre at t

he College of Europe in Bruges, Belgium, said infrastructure is important for economic gro

wth, so building infrastructure and building connectivity and efficient infrastructure are important.

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Fixed-asset investment growth was 6.3 percent in the first

 quarter, compared with 6.1 percent in the first two months, the National Bureau of Statistics reported.

As favorable policies are implemented at all levels of government in the sec

ond quarter, manufacturers will start seeing concrete financial benefits and industrial out

put is expected to at least maintain a steady expansion from April to June, said Qin H

ailin, a senior industrial economy researcher at the China Center for Information Industry Development.

At the news conference, ministry officials also denied market rumors that China’s telecom carrie

rs are slowing down their investments in 5G, the fifth-generation mobile communication technology.

They said 5G is recognized as a fundamental digital infrastructu

re for societal and economic development, but it will take time to build a nationwide 5G netw

ork. China’s plan is to roll out the superfast technology step by step, the officials said.

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