Skip to content

Monthly Archives: March 2019

But since challenges co-exist with opportunities, Chin

  should maintain regular communication with its EU partners, seek

mutual benefits and use innovative mechanisms to realize better cooperation.

  Tian Dewen, deputy director general of the Institute of European Studies of Chinese Academy of Social Sciences

  Sino-EU cooperation has great potential

  As one of the world’s three largest economies and a strong driving force of multilateralism, the EU is an

important cooperation partner of China in fields such as free trade, international issues and global governance.

  Xi’s visit to the three EU member states shows a great potential for China-EU coope

ration is still to be tapped. The EU’s wish to deepen cooperation with China was reflected in what the EU states said

about strengthening Sino-EU cooperation through a coherent strategy at Xi’s meeting with Merkel and Junker.

www.shlf234.cn

China becomes second-largest source of ‘unicorn com

China has become the world’s second-largest source of “unicorn companies” accordi

ng to the latest report on China unicorn companies by the Evergrande Research Institute.

With 88 in total, China is the world’s second-largest source of unicorn compani

es following the US with 151. The report cited data from IC Insight gathered between 2013 and Dec 31, 2018.

Twenty-two companies worldwide were included as super unicorn companies in 2018 and C

hina’s Fintech company Ant Financial ranked first in value worth $150 billion, the report said.

The US and China had the greatest number of new sup

r unicorns worth $10 billion last year with 12 and 7 respectively, accounting for 86.4 percent of

the world’s total. The UK, India and Singapore had one of these companies each in the same period.

New energy vehicles, artificial intelligence chips, robots, big da

ta, computer vision and cloud computing are the main areas for these emerging unicorns.

www.shlfcom.cn

Huawei’s rotating head addresses UK security concerns

Huawei’s rotating Chairman Guo Ping addressed UK’s securit

y concerns after the Chinese telecommunications company was criticized in a report on Thursday.

Huawei’s performance in the past 30 years has proven it has the best security record in the industry, Guo said at a press conference in Beijing on Friday.

The results from authorized professional test and evaluation companies in the US, UK and Finland show 9 out of 12 profes

sional capabilities of Huawei’s products have reached the top level and the other three are above average.

Huawei accepted the strictest and toughest tests from UK’s monitoring institution and was th

e first to promise worldwide that the company will make the process and results secure and trustworthy, Gao said.

The company’s board of directors made a decision to invest $2 billion to improve overall sec

urity capability in the next five years with openness, sincerity and trustworthiness, he added.

www.shlf2019.cn

Hainan’s hybrid seeds sprout along Belt, Road

Island province ‘will ensure’ that Boao Forum continues to promote cooperation

The international exchanges and cooperative efforts prompted

by the Boao Forum for Asia are turning Hainan province into the Silicon Valley of seeds for co

untries involved in the Belt and Road Initiative, according to a Hainan government official.

More hybrid rice seeds cultivated by Chinese scientists at the Nanfan Scientific and Rese

arch Breeding Base in Hainan are being introduced to ASEAN countries. The total combined area of hyb

rid rice cultivation in India, Vietnam, the Philippines, Pakistan and Indonesia – major rice-growing countries – has reac

hed 4.28 million hectares, said Wang Sheng, director of the Foreign Affairs Office of Hainan province.

Wang spoke at a news conference on March 19 before the Boao For

um for Asia 2019 Annual Conference in Boao, Hainan, which ends on Friday.

www.wk368.com

hina to improve transport efficiency, reduce logistics costs

China will unveil various measures to improve transport efficiency and lower logistics costs, according to a spokesperson for the transport ministry.

Vowing to see a notable increase in transport efficiency in the next

three years, the country will accelerate the construction of a comprehensive tra

nsport network, spokesperson Wu Chungeng told a news conference on March 28.

Efforts will also be made to expand the electronic toll collection system and promote multimodal transport, Wu said.

Meanwhile, the logistics costs are expected to be reduced by 120.9 billion yuan (about $17.97 bil

lion) in 2019, and a logistics service system in line with the country’s high-quality growth will be established over the next three years.

To fulfill such targets, the ministry will optimize transport struct

ure, upgrade rail, road and waterway transport systems and expand the network of logistics hubs, Wu said.

shlf07.cn

Considering that the two accidents took place after ne

 Boeing 737 MAX 8s were delivered, and went down just minutes after taking off, within five months of each other, they have some degre

e of similarity,” the administration said in its statement. The administration grounded all Chinese Boeing 737 MAX 8 jets on March 11.

“With China suspending the airworthiness certificate for the Boeing 737 MAX 8, domesti

c airlines are unable to purchase this model,” Li said, adding that it will undoubtedly cause great economic losses to Boeing.

As of the end of January, the Boeing 737 MAX family had 5,011 orders worldwide, of which 3

50 had been delivered. More than 420 orders came from China, with 96 already in commercial operation.

The future of the commercial aviation market in China is very exciting, Li said, and no othe

r country has more demand for aircraft. But safety questions are hindering Boeing, Li said.

A Southwest Airlines Boeing 737 MAX 8 heading to the California desert for parking during a global ban of the aircraft m

ade an emergency landing on Tuesday due to an engine-related problem shortly after takeoff, according to the carrier.

www.shlf111.cn

hina urges UK to stop interfering in Hong Kong’s affairs

China on Thursday urged the United Kingdom to respect China’s sovereignty and stop interfering in Hong Kong’s affairs.

Foreign Ministry spokesperson Geng Shuang made the remarks after the UK government released its latest six-monthly report on Hong Kong.

“We urge the UK to face the reality that Hong Kong has returned to China for 22 years, respect China’s s

overeignty, stop releasing relevant reports, and stop interfering in Hong Kong’s affairs,” Geng said at a press briefing.

It is undeniable that the “one country, two systems” practice has achieved widely-acknowledged success, he said.

“Hong Kong’s affairs have been entirely China’s internal affairs since

July 1, 1997. The British side has no right to make irresponsible remarks or interfere with any excuses,” Geng said.

shlf111.cn

Liu, the spokesman, said the ministry dispatched a team co

nsisting of 49 experts from institutes affiliated with the ministry and universities

, including Tsinghua University, to the site to help with the environmental aftermath from the explosion.

He also said the team has cut off the access of three rivers to Guanhe River, which empties into the sea, to prevent the pollution from spreading.

The three rivers inside the chemical industry park wer

e found contaminated soon after the blast. On Wednesday, an excessive amount of pollutants was still de

tected in two water bodies in the chemical park — the Xinfeng River and Xinnong River.

According to the Jiangsu environmental watchdog, the density of ammonia nitrogen in Xinfeng River reached 183 millig

rams per liter, 90.5 times higher than the national standard, at 10 am on Wednesday. The content of methylene chlor

ide in the river was about 15 times above the national standard with a density of 0.321 mg/L. The ch

emical oxygen demand in the water body stood at 343 mg/L, 7.6 times above the national standard, the watchdog said.

The watchdog also found an excessive amount of these pollutants in Xinnong River, though with much lower densities.

shlf2021.cn

After a two-hour hearing on Wednesday, the top court up

held the original ruling, and said the two companies should stop their infringement immediately.

The Shanghai IP Court will further calculate the exact amou

nt of compensation that the two Chinese companies should pay to Valeo, accor

ding to the verdict. During the first trial, Valeo had requested compensation of 6 million yuan ($893,000).

Wednesday’s trial is of great significance as it shows China’s growing efforts in protecting IPR, the top court said in a release.

“It shows the country’s strong determination in fighting infringement, and intensif

ied judicial protection for IPR and innovation-driven development,” said Ma Yide, an intel

lectual property professor from Zhongnan University of Economics and Law who attended the hearing.

The final verdict was reached only two months after the original one.

Such a fast pace reflects improved efficiency in handling IP-related lawsuits in Chinese courts, he said.

shlf168.cn

For example, banks tend to gravitate to Frankfurt beca

 it is already a banking center in the European context, plus a clearinghouse. Also, Frankfurt has the Euro

pean central bank, which is now the regulator for all banks in Europe. So, the banks want to be closer to the major regulator,” Donoghue said.

As for asset management, insurance, and funds companies, Donoghue said, they are relocat

ing to Dublin because the city has a very broad and diversified set of capabilities in running funds and managing assets.

Andrew Pilgrim, associate partner at consultancy Ernst & Young, which is known as EY, sai

d it is probably not in the EU’s best interests to have financial services concentrated in one location.

“From policy and political perspectives, there is an argument to say that actually having a balanced financial sector across many EU jurisdi

ctions means that you have less risk concentrated in one jurisdiction,” Pilgrim said. “And it also means that you get a more balanced regu

latory and supervisory environment across all the EU member states, as opposed to all of that being focused on one.”

www.sh419ss.com