Top Chinese enterprises post double-digit growth in revenue. [Photo/Sipa]
Trade experts urged China to further diversify market channels in other parts of the world, in particular the European Union, Japan, Canada, India and Russia which are currently hurt by the United States' aggressive trade policies, in order to retain robust growth.Their remarks came after the Trump administration began to levy punitive tariffs on billion of Chinese imports on Friday. China then retaliated by imposing tariffs on the same amount to defend its core interests, global value chain and the multilateral trade system.As China is deepening its opening-up policies and building an advanced business environment via fast-growing service sectors, enhanced protection of intellectual property rights and foreign investment, the operation of US companies will be affected by policymakers in Washington, said Wei Jianguo, former vice-minister of commerce.He warned that many US companies would lose their market share in the country's newly opened sectors such as high-tech manufacturing, banking, insurance, healthcare, medicine and new materials, if the bilateral trade tension continues to escalate.The Trump administration hasn't cultivated a business environment deemed by its major trading partners as reasonable and predictable. Instead, it is putting up trade barriers, restricting foreign investment and alienating its major trading partners and traditional allies, said Chen Wenling, chief economist at the China Center for International Economic Exchanges."I also feel that the US business community has no idea about what the Trump administration wants," she added. "The false passion of the US government is tarnishing the credibility and international image of the world's biggest economy. It will be another pricey mistake that the US has to deal with."David Dollar, senior fellow of the John L. Thornton China Center at the Brookings Institution, agreed. He said the tariffs will reduce US imports but also cut the same amount of US exports, so the trade imbalance probably will remain about the same or may widen."Protectionism will be bad for the US economy, but it will take some time for this effect to become evident," said the former World Bank country director for China.Douglas H. Paal, vice-president of the Asia Program at the Carnegie Endowment for International Peace, said the short-term impact of imposing tariffs will be a "souring of relations".In the longer term, as trade deficits are driven by macroeconomic trends and not trade measures, the US will run a huge global trade deficit based on high spending and revenue cuts, Paal said.He emphasized that Trump cares about voter reaction, not trade results. "He is not negotiating with China, he is negotiating with angry citizens who feel betrayed by past trade agreements," Paal added.
Travel time from Xiongan New Area in North China’s Hebei province to Beijing’s new international airport will be only 20 minutes when the airport opens on September 30, 2019.The two will be connected by the Beijing-Xiongan intercity high-speed railway, which is now under construction and will also be put into use in September 2019, Hebei Daily reported.The railway’s section from Xiongan to Beijing’s new airport — at the junction of Beijing’s Daxing district and Hebei’s Langfang — is about 57 kilometers and will have a designed speed of 350 kilometers per hour, according to an assessment report on the line’s environmental impact.The whole rail link between Beijing and Xiongan is about 92.4 kilometers long. Its construction began this February.The section from Beijing to its new airport has a designed speed of 250 kilometers per hour.Once completed, the railway will cut travel time between Beijing and Xiongan to 30 minutes.The Xiongan New Area, about 100 kilometers southwest of Beijing, is the third new area of national significance after the Shenzhen Special Economic Zone and Shanghai’s Pudong New Area.It will gradually receive some of Beijing’s non-capital functions.
Together with the launch of the gigabit optical fiber network at the altitude of 6,500 meters, Huawei has enabled China Mobile to run its dual gigabit network the "Roof of the World".
Tom Milliken of Traffic International, a global wildlife trade monitoring network, told Xinhua Friday that the effectiveness of the ban was hinged on strict enforcement of the law.
Tower 2 of the station was the most difficult of its kind to be built for a 500-kilovolt alternating current transmission line, from the station to the Kunbei converter station.
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Trainees from Russia take courses at Alibaba's Taobao University in Hangzhou in September 2019. [Photo byNiu Jing/For China Daily]
Together with the NDRC development planning department, the Cloud River Urban Research Institute has also conducted research and issued reports on the China Integrated City Index for three consecutive years since 2016.
Tourism was inevitably affected by the COVID-19 outbreak in the first quarter. But the young entrepreneurs did not sit idly by. They chose to livestream their homestays and featured products on TikTok and WeChat to expand exposure.
Traditionally, Chinese customers tend to buy and take along dairy products when visiting friends during the Spring Festival holiday.