No evidence was found to show Chinese monetary

 authority intervention in foreign exchange markets over the past se

veral months, according to the US Treasury’s semiannual foreign-exchange report to Congress.

The May report summarized that China’s growth appears to be stabilizing on the back of recently enhanced supportive measures.

The report expanded the number of countries it scrutinizes for curre

ncy manipulation to 21 from 12. Countries with a current account surplus with the US

equivalent to 2 percent of GDP were put on the watch list, compared with 3 percent of GDP before.

China didn’t meet the “currency manipulator” criteria listed by the US Treasury, but Washington will continue asse

ssing the RMB’s performance given China’s large trade surplus with the US, the report said.

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In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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be why despite the US government blacklisting Huawei, Re

Ren on Tuesday expressed continued willingness to collaborate with US partners in the future.

Ren’s confidence lies in Huawei’s capacity to serve its customer

s under “any circumstances”, and has the support of its growing clientele at home and abroad.

“Last week, in public bidding by China Mobile, we won contracts to build 5G networks for 37 of the 40 cities,” Ren dis

closed. “Our capacity for mass production is enormous, and will not drop much with US restrictions”.

The otherwise low-profile Huawei leader made no secret about his pride

in his company’s technologies: “Huawei’s 5G will absolutely not be affected. When it c

omes to 5G technologies, others will definitely not catch up in two or three years”.

That was why the confident Ren said the 90-day exemption Washington declared on Monday was dispensable.

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Trump must turn over financial records to House, judge rules

A federal judge in Washington ruled Monday against President Donald Trump in a financial records dispute with Congress.

US District Judge Amit Mehta, who was appointed by President Barack Obama, said T

rump cannot block a House subpoena of financial records. He sai

d the Democratic-led House committee seeking the information has said it belie

ves the documents would help lawmakers consider strengthening ethics and disclosure laws, among other things.

The committee’s reasons were “valid legislative purposes,” Mehta said, and it was not for hi

m “to question whether the Committee’s actions are truly motivated by political considerations.”

The decision comes amid a widespread effort by the White House and the preside

nt’s lawyers to refuse to cooperate with congressional requests for information and records.

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Winter Games: 1,000 days to gontdown activity unfolds in Be

With 1,000 days to go before the 2022 Winter Olympics, pr

eparations are well underway for a successful and sustainable event.

Built for the 2008 Summer Games, Olympic Park in Beijing’s north

ern downtown area entered the spotlight again on Friday as the country began its cou

ntdown. The 2022 Winter Olympics, will be held in Beijing and co-host Zhangjiakou in adjacent Hebei province.

As the symbolic “1,000” flashed on a digital clock on the park’s Lin

glong Tower, a broadcasting facility for the 2008 Games, expectations were heig

htened for the winter sports extravaganza, which will run from Feb 4 to 20 in 2022. Three zones will feature athl

etic events — downtown Beijing, the city’s northwest Yanqing district and Zhangjiakou’s mountain district Chongli.

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Reflecting China’s increasing global footprint, the next

 decade is likely to be driven by greater global financial sector integration,” said Alfred Schip

ke, the International Monetary Fund’s senior resident representative for China.

Chinese students are increasingly diversifying their choices of destinations for overseas stud

ies, with more students choosing to go to the United Kingdom, Australia and Canada, a new report showed.

In a multiple choice survey for the annual Report on Chinese Students’ Overseas Study, released

on Tuesday, while the United States remains the most popular destination for overseas study this year, pref

erred by 43 percent of the respondents, this was down by 8 percentage points compared with 2015.

US dominance looks uncertain as the number of students inclined to study in the UK r

ose sharply in 2019, accounting for 41 percent, up 9 percentage points compared with 2015.

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Boosting rural areas will help solve dilemmas of ove

rcrowding and rampant construction plaguing cities, and the development of cities will also offer unique ways to bring about rural revitalization,” Chen said.

“As restrictions on hukou will gradually be removed, cities need to be well-prepared to offer

accommodation and employment opportunities, and allow children of migrant workers to have equal access to education,” Chen added.

China has made steady progress in urbanization, as the ranks of permanent urban r

esidents stood at 831 million at the end of 2018, up 17.9 million from the previous year, said the National Bureau of Statistics.

Last month, the National Development and Reform Commission said it

plans to increase the urbanization rate by at least 1 percentage point by the end of this year.

Shen Chi, vice-director of the China Center for Urban Development, said the government’s new

plan will help foster high-quality and sustainable economic development across the nation.

“Relaxing the hukou policy will be a key step in promoting the free flow of labor across

the nation,” Shen said. “A systematic consideration and arrangement of the integratio

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Probe begins after Boeings off runway into Florida river

A team of 16 federal investigators was traveling to Jacksonville, Florid

a on Saturday after a Boeing jetliner with 143 people on board slid off a runway into a sha

llow river while trying to land at a military base during a thunderstorm, injuring 21 people.

The Boeing 737-800 chartered by the US military was arriving from Na

val Station Guantanamo Bay in Cuba with 136 passengers and seven crew members when it slid

into the St. Johns river at the end of the runway at Naval Air Station Jacksonville, authorities said.

No one was badly hurt and the 21 people taken to a hospital w

ere listed in good condition, the local sheriff’s office said.

The National Transportation Safety Board said on Twitter th

at 16 investigators were arriving in Jacksonville on Saturday.

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The company will consider adding employees, resear

rch and field development resources to expand in the Chinese market over the coming years, he said.

Ministry of Commerce spokesman Gao Feng said last month that the t

wo countries’ negotiating teams are hashing out the text of a deal, including an enfo

rcement mechanism, based on mutual respect and benefit. Both countries, the world’s two biggest eco

nomies, have been intensifying their consultations and aiming to break the deadlock in a timely manner.

In the ninth round of trade consultations, negotiators discussed tec

hnology transfers, protection of intellectual property rights, non-tariff measures, the servi

ce sector, agriculture, trade imbalances and enforcement mechanisms.

Trade between China and the US amounted to 815.86 billion yuan ($121.7 billion) i

n the first quarter of the year, an 11 percent year-on-year decline, according to the General Administration of Cus

toms. In March, Sino-US trade climbed 0.1 percent to 291.35 billion yuan, according to the administration.

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The volunteer team, having stayed in Lunar Palace

an environmentally contained research facility where occupants simulated l

ong-duration self-contained missions with no outside inputs for 200 days — broke the previous

record of 180 days set by researchers in Russia. The team recently won a China May Fourth Medal.

“President Xi has called upon young people to overcome hardships, and that is what our team has been doing,” Yi said.

Qiu Shuiping, Party secretary of Peking University, said the learning institution is pro

ud to be part of history. The university has chosen May 4 as the day to celebrate its founding.

“The choice of the date indicates our resolve to move forward along the path set by the movem

ent to realize national rejuvenation,” he said. “Our teachers and students will work harder to accelerate the

pace of building Peking University into a world-leading academic institution.”

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