The strategic guiding role of national development plannin

ng should be leveraged to improve coordination mechanisms

for economic policies such as finance, currency, employment, industry, and regional develop

ment to ensure the nation’s economic development stays within a reasonable range, the statement said.

The meeting highlighted the importance of strengthening innovative cap

abilities as well as opening-up and cooperation in this regard, and called for improving the serv

ices and environment for opening-up and cooperation so that development is promoted through opening-up, inn

ovation is advanced through reforms and win-win results are achieved through cooperation, it said.

Tough and newly emerging problems should be resolved through deepening reforms, the state

ment said, adding that the capability of dealing with challenges and preventing risks should be intensified.

www.guapogang.cn

The world’s second-largest economy maintained its fore

eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho

ugh it slightly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.

Li Yang, director of the National Institution for Finance and Development of the Chinese Academy

of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de

fend its currency, even if depreciation pressure rises amid any escalation in trade tension.

In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen

t under market pressure as global investors worried about the escalation of trade friction.

Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monday that higher US tariffs on Chin

a’s imports triggered financial market volatility, and this also affected the offshore RMB.

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Liu told Regan that China has made its position very cl

lear that if the US treats the Chinese negotiating team with respect and shows the willingness to talk wit

hout using outside pressure, there is a high possibility that there could be a productive trade deal.

“Otherwise, I think we might be facing a prolonged period of problems for both sides,” she said.

Regan, at the close of their 15-minute talk, said again, “No one wan

ts trade wars. But we have to think long hard about the right next steps.”

Liu, however, did counter an assertion by Regan that China’s government controls its entire economy.

“Everybody thinks that China’s economy is state-owned, state-controlled, every

thing is state, state, state. Let me tell you that is not the true picture,” Liu said. “We are a

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alwai highly commended China’s achievements in its ref

form and opening-up drive, and said the country’s success has not only brought changes to itself, but als

o has profound and positive influence on the world. Vanuatu firmly honors the one-China policy

and supports the Chinese government in its efforts to realize peaceful national reunification, he added.

oreign investors may get access to more onshore commodity contracts 

China will give foreign investors more access to its commodity futures market as part of it

s continuing efforts to strengthen the real economy, the top securities regulator said on Tuesday.

The move will benefit both overseas and domestic market participants, and

the opening-up of the stock index futures market will also speed up, experts said.

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During the team’s 40-day intensive training in Nepal, the

heir Sherpa guides had taught them how to maintain healthy blood circulation and remain safe in crowded conditions, she said.

This spring, 144 foreign and 12 Chinese climbers have also attempted to con

quer Qomolangma from Tibet, according to the Tibet Mountaineering Association. “D

espite having a smaller number of climbers, traffic jams also happened on the Tibetan side,” Ma said.

“Crowds are usual on some mountains. It’s not a new phenomenon. Climbers often lose their live

s when they don’t follow the instructions of Sherpa guides and make decisions on their own,” Kami Ri

ta, an experienced Sherpa who has reached Qomolangma’s summit 24 times, told Xinhua News Agency.

Sherpas are aware of every twist and turn and which paths to follow up mountains, so he urged the Nepali government to dis

courage mountaineers from climbing mountains without guides in order to prevent casualties.

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So far EU ministers have only agreed a modest mandat

 to discuss reductions in tariffs in industrial goods and to seek agreement on conformity assessments. EU Trade Commissioner Cecilia Malmstrom is opp

osed to any quota agreement on cars and has lambasted the national security excuse put forward by the White House.

The most prominent supporter of free trade is the center-right European People’s Party which lost sea

ts largely to right-wing parties opposed to free trade, and to the Greens which want tougher conditions attached to trade deals.

The center-left Socialists are also broadly in support of free trade but lo

st seats, while the pro-trade Liberals (the Alliance of Liberals and Democrats for Europe) gai

ned seats. But the Liberals are now aligned with French President Emmanuel Macron’s En Ma

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ale Zhang, managing director of Shanghai-based con

nsultancy Automotive Foresight, said SEAT’s smaller cars will help its parent company to reach custo

mers in China’s smaller cities, where electric cars built on Volkswagen’s own platforms would be less affordable.

Volkswagen, as well as its subsidiaries from Audi to Porsche, plan to deliver aro

und 1.5 million electrified vehicles, most of them pure electric cars, in China by 2025.

It also expects global sales of electrified vehicles will total 22 million by 2028, and half of them will be produced in China.

China overtook the United States as the largest producer and market of new energy vehicles in 2015.

The China Association of Automobile Manufacturers expected sales of su

ch vehicles to reach at least 1.6 million this year, up from 1.2 million in 2018.

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Xi envisions cooperation on big data development

resident’s message calls for tackling legal, security, governance challenges

President Xi Jinping called on Sunday for strengthened cooperation among countries to explor

e opportunities of digital, internet-based intelligent development and to properly address leg

al, security and governance challenges arising from big data industry development.

He made the remarks in a congratulatory letter to the China Intern

ational Big Data Industry Expo 2019, which kicked off in Guiyang, Guizhou province.

The new generation of information technology, represented by the

internet, big data and artificial intelligence, is booming at present and has significant and

profound influence on various countries’ economic development, social progress and people’s lives, Xi said in the letter.

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Spain’s SEAT set to make China comeback by 2021

Spain’s largest carmaker SEAT is set to make a comeback in China around 2021, a move that will help its parent

company Volkswagen AG secure a larger share in the world’s largest new energy vehicle market.

“The Spanish brand aims to enter the Chinese market in the coming two to three years,” said Volkswagen in a stat

ement on Tuesday, citing an agreement it signed with SEAT and Chinese carmaker JAC Motors.

SEAT pulled out of China in 2014 after two years of poor sales of its gasoline vehicles.

This time, it will enter the Chinese market through JAC Volks

wagen, a 50-50 joint venture established in Hefei, Anhui pr

ovince, in 2017 to develop, produce and sell pure battery vehicles.

www.qianpadaf.com

Nearly three years after the United Kingdom voted by per

rcent to 48 percent to leave the EU, it remains a member and its politicians are still argui

ng over how, when or even whether the country will leave the club it joined in 1973.

May quit on Friday, saying it was a matter of deep regret that she had been unable to deliver Brexit and

arguing that the decision of the 2016 referendum should be honoured. That opened up a period of furt

her uncertainty as the Conservatives decide on who will take over as party leader and prime minister.

BBC projections put the Conservatives on around 10 to 12 percent, down fr

om 23 percent in 2014, likely to be one of the party’s worst results in a nationwide election ever.

The Brexit Party was in first place, and was likely to do better than

the UK Independence Party did in 2014, according to BBC projections.

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