Renminbi to remain stable, regulator saysknotes at a ba
Central bank vice-governor voices confidence amid currency volatility
China will further open the financial market to welcom
e more overseas investors in. The cross-border trade and investment will be more free and convenient, said Pan.
He called China’s economy stable, as the major economic indicators were within a reasonable range.
In April, the National Bureau of Statistics said the purchasing ma
nagers’ index for the manufacturing sector stood at 50.1, indicating expansion as the reading was above 50.
The broad money supply, or M2, increased 8.5 percent year-on-year by the end of April, compared with 8.3 percent a year earlier.
“The prudential monetary policy was focused on countercyclical adjustments this year, maintaining flexibility as well as
ample liquidity to promote fast growth of credit and strengthened support of private and small enterprises,” Pan added.
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.
The capital issued blue alert for strong winds on Sunda
with five suburban districts of Tongzhou, Yanqing, Changping, Huairou and Shunyi upgrading it to yello
w alert later. These areas were hit with strong winds as high as 8-9 grades, with gales reaching 10 grade
at some places. According to forecast, the wind could still be as high as 7-8 grades on Monday.
The gale toppled a wall near Dongzhimen Bridge in downtown Beijing, hitting three pedestrians,
two males and one female. Two of them died at the scene and one at hospital, Dongcheng District said via Sina Weibo.
Food delivery service Meituan said one of its deliverymen was hit and killed by a fallen tree when delivering food.
The speed of wind reached 10-15 meters per second at the Capital International Airport starting from 10 a
m Sunday, with gales as fast as 20-25 meters per second, the airport said. Due to the strong wind, th
e operational ability of the airport dropped and remained low until 7 pm Sunday.
hina Eastern asks Boeing for 737 MAX compensation
hina Eastern Airlines confirmed to news outlet The Paper on Tuesday it has officially lodged claims with Boeing for losses cause
d by the 737 MAX’s grounding and late delivery, adding the two companies will stay in communication over the issue.
The move makes China Eastern Airlines the first airline in China to ask Boeing for compensation, as the 737 M
AX suffered worldwide suspensions after two deadly crashes which took more than 300 lives in six months.
Fourteen Boeing 737 MAX jets under China Eastern Airlines have been grounded since March 11.
Boeing stressed that it refused to talk about any communications with its clients.
Bloomberg cited people with knowledge of the matter last Wednesday, saying
emphasized that the company was committed to con
ontinuously working with customers as well as industry and governme
nt stakeholders to ensure its technology adheres to all of their requirements.
The US Department of Homeland Security issued an alert warning on Monday that Chinese-made drones may be se
nding sensitive flight data back to their manufacturers in China, where it can be accessed by the government there.
According to a report by CNN, the alert warns companies and organizations that the US gov
ernment has “strong concerns about any technology product that takes American data into the territory of an au
thoritarian state that permits its intelligence services to have unfettered access to that data.”
The report does not name any specific manufacturers, but nearly 80 percent of the
drones used in the US and Canada come from DJI, according to industry analysis.
Ren said Europe maintains close communications wit
th Huawei and some features of 5G are very suitable for the rollout of the superfast techn
ology in Europe. For instance, 5G capacity is 20 times that of 4G, and its power consumption 10 times l
ess. “We also use materials that will not corrode for decades, and these characteristics are very suitable for Europe.”
Ren said the US technologies are still worth learning in both their depth and width. Many small US companies have super-precision products.
“But in our business (5G), Huawei is at the forefront, though when
it comes to comparison between countries, we are still far behind the United States,”Ren added.
“We will not go through an extreme shortage of supplies. We have made sound preparati
ons,” Ren said, adding that the company’s employees are working overtime to prepare for such situations.
So far, 15 countries including Iran and Mongolia have
According to the administration, the mechanism can switch the on-duty satellite to a quick-scan mode focusing on areas required by users when they are hit by disasters.
“During disasters, Fengyun satellites can scan as often as every five or six minutes. The China Meteo
rological Administration could send users cloud images and products via satellites and public clouds,” Wei said.
For example, in March, China provided a remote-sensing monitor repo
rt on flooding in Iran via Fengyun. The analysis estimated the coverage and ter
rain characteristics of the flooded area, which greatly assisted the country’s evacuation efforts.
China has launched 17 Fengyun series meteorological satellites, of which seven are currently operational.
The World Meteorological Organization has included China’s Fengyun serie
s of meteorological satellites as a major element of its global Earth observation system.
The phone call took place days after the US Commerce Dep
artment announced on Wednesday it will add telecommunications eq
uipment maker Huawei and its affiliates to the Entity List on Wednesday. Being on the list
bars the company from buying US technology without government approval due to security concerns.
On the same day, US President Donald Trump signed an executive order that bars US companies fr
om using telecom equipment from manufacturers considered a national security risk, without mentioning Huawei by name.
Such moves, as well as the increase of tariffs on $200 billion worth of Chinese goods earlier this m
onth, complicated the prospect of continuing the bilateral trade talks that have been ongoing for more than a year.
China has always believed in and hoped to solve trade differences thr
ough talks, but such talks should be equal, Wang said. In any talks, China must protect its legitim
HiSilicon, which was founded in 2004, has designed chip
ipsets like Kirin, which has been used in Huawei’s high-end smartphones. In addition to server chips, th
