Zhang Dawei, chief analyst with Centaline Property, sai

id the main reason behind this is the real estate market in some cities is at risk of going out of control, and the land market shows signs of overheating.

China’s house prices continued to stabilize despite slight increa

ses in April, according to the National Bureau of Statistics. Sixty-seven out of the 70 major Chi

nese cities saw an increase in the number of newly built homes that were sold in April.

On a month-on-month basis, new home prices in Dalian and Nanning rose 0.7 percent and 0.9 percent, re

spectively. On a year-on-year basis, new house prices in these cities grew 13.2 percent and 11.5 percent, respectively.

Although excluded from the 70 major Chinese cities surveyed by the N

ational Bureau of Statistics, Foshan and Suzhou also saw a surge in home prices in April.

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it its lowest level since November. Trade talks betw

ween China and the United States recently faltered and a large amount of additional tariffs are expected to be imposed on imports from both sides.

China will take necessary measures, in response to foreign exchange market flu

ctuations, including using a strengthened risk management system, said Pan.

He also stressed that authorities would crack down on illegal activities in foreign exchange trading.

“China has sufficient policy tools,” said Pan, who is also director of th

e State Administration of Foreign Exchange, the country’s foreign exchange regulator.

The PBOC vice-governor also confirmed on Sunday that China will continually implement

opening-up policies and improve the environment for overseas investors and protect the legal rights of foreign investors.

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he transformation and upgrading of existing industries

thanks to measures to stimulate innovation, optimize the business environmen

t and public services, and to strengthen opening-up and cooperation in the digital sector.

“China’s high-tech industries, represented by new technologies, new industr

ies, and new products, have maintained rapid growth in recent months,” she said.

According to the commission, output in the high-tech manufacturing sector rose 8.7 percent ye

ar-on-year from January to April, 2.5 percentage points higher than that of industrial output. High-tech ma

nufacturing output was responsible for 13.6 percent of industrial output, 1 percentage point higher year-on-year.

Output of the electronics and communication equipment manufact

uring sector, pharmaceutical manufacturing and aerospace and equipment manufacturing wer

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Luckin, a Starbucks rival in China, rises in US stock debut

Shares of Luckin Coffee, a fast-growing rival to Starbucks in China, rose 20 percent in their US stock market debut Friday.

The Chinese company, which opened its first store in Beijing less than two years ago, has 2,370

locations and plans to surpass the 3,700 stores Starbucks has in China by the end of the year.

But unlike Starbucks, Luckin is losing money.

It brought in $125 million in revenue last year, but spent much more than

that on coffee beans, store rent and other costs. Last year, it lost $475 million.

Most of Luckin’s stores are small, have few seats and are used mainly as a place to pick up mobile orders.

It also offers delivery in 30 minutes and promises a refund for delays or spilled drinks.

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International Museum Day celebrated at Palace M

Wang Xudong, director of the Palace Museum, says it’s a duty for museums to provide a platfo

rm for scholars to exchange their academic findings, for artists from different cultural back

grounds to show their work and boost mutual respect, and for children to pass traditions into the future.

The latest figures from the National Cultural Heritage Administration show China had 5,354 mu

seums by the end of 2018, and museums across the country held some 26,000 exhibitions in 2018 and

received 1.126 billion people, an increase of 30 percent and 16 percent, respectively.

The International Council of Museums organized the annual Inte

rnational Museum Day in 1977 to address the changing roles of museums.

Museums across the world are reinventing their roles to become more interact

ive, audience focused and active in delivering creativity and knowledge to their communities.

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To make up for the increasing savings gap, the US need

eds to introduce and use more foreign capital, which will further enlarge

the trade deficit. Therefore, the US cannot simultaneously maintain a high growth r

ate, 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-regu

lation of the economy, the US administration has been trying to impose regulations on int

ernational trade, even for its trade partners’ domestic economic management.

Results for US may be unsatisfactory

The US administration’s more often than not conflicting goals have

resulted in the trade conflicts with China and other countries. For instance, China’s exports to t

he US grew 11.3 percent and its trade surplus with the US increased to $323 billion in 2018, up 17.3 percent year-on-year.

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developed chips for base stations, basebands and chipsets

powered by artificial intelligence.Services will be provided based on the results of a survey of 81 countries

China will offer customized data services for disaster prevention thr

ough its Fengyun meteorological satellites for more countries along the Belt and Road, said a

senior official of the China Meteorological Administration’s National Satellite Meteorological Center.

The services will be provided based on the results of a survey of 81 countries. By the end

of April, 22 countries, including Afghanistan, Pakistan, Iran, Russia, Libya and Sudan, had responded to the survey.

“From chips to its self-developed operating system, Huawei has long been preparing for in

dependent research and development in core technologies. It has the ability to adjust to changes in the glo

bal market,” said Xiang Ligang, director-general of the Information Consumption Alliance.

Huawei has also made preparations with core chipsets. Existing stocks

are thought to provide the company with a buffer of six months to a year, he said.

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The number of its exhibits, ranging from train tickets an

d an unfinished self-knitted sweater to a wedding dress and a tie with a lipstick mark, has in

creased by threefold to more than 200. All the objects are left behind from breakups and donated by the public.

People seem to find closure for a broken relationship by donating souvenir

s from former lover, Kang Shidong, owner of the museum, told Shanxi’s news portal sxrb

.com. He said a young man brought a bracelet and spent a whole afternoon writing a note, elaborating his love story.

Besides closure, what surprises Kang is that some visitors fell in love after coming across each other at the museum. “As f

ar as I know, some have entered romantic relationships,” said Kang. “I’m happy to see that. The purpose of estab

lishing such a museum is for people to say goodbye to their old relationship and stride into a new one.”

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protections made noticeable progress in China last yea

 because of multiple measures, including improved legislation, intensified law enforcement and more international coopera

tion, according to the Report on the Latest Development in IPR Protection and Business Environment in China.

Law enforcement authorities in China handled 215,000 cases involvin

g counterfeit products last year, including 77,000 cases involving patent infr

ingement, said Gan Lin, vice-minister of the State Administration for Market Regulation.

Courts across China concluded nearly 320,000 IPR cases of various type

s last year, an increase of 41.6 percent over the prev

ious year. More than 5,600 criminal suspects involved in IPR infringement were arrested last year, Jin said.

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Shanghai has ‘best business environment’ in China

hina’s financial center Shanghai boasts the best business environment in the country, according to a report on China’s urban busi

ness environment index jointly released by the China Strategic Culture Promotion Association, the C

hina Economic Media Association, WANB Institute and YICAI Research Institute.

With an index of 86.73, Shanghai topped the list of Chinese cities with best business environment, followed by the capi

tal city Beijing at 84.63, and then Shenzhen, in South China‘s Guangdong province, at 84.48.

The report evaluates Chinese cities according to five “soft environment” indexes — technological innovation, finan

cing, talent, culture and life — and two “hard environment” indexes, natural resources and infrastructure.

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