Liu, who turned himself in, stepped down in Janua

ary as chairman of the China Securities Regulatory Commission, a position he kept for three years before being replaced by Yi Huiman.

The central commission said in the statement that Liu is cooperating with the probe.

hina’s housing regulator has warned four Chinese cities over price rises in the past three months, the Economic Observer reported.

Local governments of Foshan, Suzhou, Dalian and Nanning were urged by the Ministr

y of Housing and Urban-Rural Development to stabilize land and housing prices as well as market expectations.

This came a month after six other cities were also warned over similar reasons on April 19.

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Moreover, Washington has forbidden US companie

 to sell chips to ZTE, a Chinese multinational telecommunications equipment and

systems company, even after imposing huge fines on the company. By so doing, the US has act

ually encouraged China to increase investment in its high-tech sector. So, even if China and the US were to strike a de

al, China would be prompted to import lower volumes of energy and agricultural products from the US.

In macroeconomic terms, the China-US trade dispute has added h

uge uncertainties to the US economy and raised the likelihood of recession. Which cou

ld thwart the US president’s chances of being re-elected in 2020. And the trade dispute c

ould prevent the US from taking the measures it intends to in order to consolidate its national power.

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Asked whether China will retaliate by targeting certain US co

 companies, Lu said that as for foreign enterprises operating in Chi

na, there is no need for them to worry as long as their businesses are law-abiding.

S President Donald Trump issued an executive order on Wednesd

ay in which he declared a national economic emergency and banned the technology and

services of “foreign adversaries” deemed to pose “unacceptable risks” to US national security.

The US intention is so obvious that media outlets around the world have without exception interpr

eted this as targeting Huawei, by excluding the Chinese telecommunications giant from US networks.

Washington has repeatedly claimed that Huawei’s equipment poses a security threat, but for all the sound and fury, it sign

ifies nothing, as it has never produced any credible evidence, indeed any evidence at all.

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anqing and Zhangjiakou are preparing another venues, in

including existing ski resorts and some newly built projects, to host all eight Olympic snow sports

in 2022. The three clusters will be connected by a new high-speed railway, which will be completed by t

he end of this year. It looks beyond the Games to boost future winter sports tourism.

According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the f

irst test event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.

About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hecta

re forest reserve has been built nearby for transplantation of all the trees affected by the construction.

“The preparations are ready to step up to the next stage, from planning to

the readiness phase. Beijing is ahead in the race against time,” said Liu Yumin, dire

ctor of the planning, construction and sustainable development department of the 2022 Olympic Organizing Committee.

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The Conference on Dialogue of Asian Civilizations, whic

will be held later this month following the proposal of President Xi Jinping, demonstrates China’s deep thinking and resp

onsibility for promoting the development of civilization in Asia and the world. The conference will have great and

far-reaching significance to the construction of a community of shared future for mankind.

The history of humanity is one of the coexistence and joint development of multiple civilizations. In his article on excha

nges among civilizations and mutual learning, published by the Qiushi journal on May 1, Xi wrote that “civiliz

ation becomes colorful because of exchanges, and abundant because of mutual learning”. He urged nations to “seek wisd

om, absorb nutrition from different civilizations, provide the people with spiritual support and comfort for thei

r soul, and join hands to resolve common challenges of various kinds confronting human beings”.

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He called on the two countries to deepen all-aroun

 cooperation and build the comprehensive strategic par

tnership between China and Portugal to a higher-level, with broader vision and greater vitality.

Xi said the two countries should strengthen high-level exchanges and value th

eir respective core interests and major concerns based on mutual respect and understanding.

Saying China views Portugal as a significant partner in jointly building the Belt and Road, Xi called for the stren

gthening of bilateral cooperation in fields such as trade, investment, energy and infrastructure.

He also urged the two nations to strengthen coordination on major inter

national issues, firmly uphold the multilateral system and build an open global economy.

Xi added that China stands ready to work with the European nation

to advance more productive cooperation between China and Portuguese-speaking countries.

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And, despite ongoing tensions, the total value of impo

orts and exports rebounded sharply in March, reaching 9.6 percent higher than March 2018. S

o, overall trade grew by 3.7 percent year-on-year in the quarter despite low growth rates in January and Febru

ary. Exports of electrical and mechanical products, which are higher value added, grew by 5.4 percent in the qua

rter. And, private sector trade grew 9.9 percent, far more than the overall growth rate.

I am worried to see that total investment in real estate grew by 11.8 per

cent year-on-year. Having lived through the 2008 finan

cial crisis in the United States, I’m wary of continued high investment in real estate in a time when property prices are al

ready astonishingly high and China’s living space per person has already surpassed that in Europe.

The bottom line is that fiscal and monetary policies combined with policies to promote structural transformation have

achieved a stable macroeconomic situation and steady movement toward supply side upgrading.

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Country’s 1st space station to be shared a full-size m

China’s plan to involve international communities in its space mis

sions to jointly conduct space research shows its determination to further enhance global coop

eration in space projects, according to the director of the United Nations Office for Outer Space Affairs. That incl

udes opening up its planned space station to other countries, especially developing countries.

China’s space station, which is expected to be completed and operating by 2022, will be the world’s first space station open

for cooperation with all UN member states in manned space flights and exploration. The station will be able to sup

port research on astronomy, space life sciences, biotechnology, microgravity fundamental physics and space materials science.

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Overall, the country’s industrial output grew 6.5 percent

year-on-year in the first quarter, compared with 5.7 percent in the previous quarter.

The ministry said more than two-thirds of enterprises it surveyed received ample orders to

keep factories busy after the Spring Festival break, also signifying an upward trend.

Qu Xianming, an expert at the National Manufacturing Strategy Advisory Committee, s

aid the sound performance in the first quarter is the result of improved market expecta

tions and it mirrors the resilience and sustainability of the country’s manufacturing sector.

“The central government said in March that it would slash the value-a

dded tax rate of 16 percent in manufacturing to 13 percent. Such an aggressive cut sends a strong

positive signal to companies, which has motivated them to accelerate production and intensify investment,” Qu said.

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Xi underlines studies on May Fourth Movementnjiang

The call made by Xi Jinping, general secretary of the Communist Party of China Central Committee, for more study of the

May Fourth Movement, will help younger generations better understand the value of its spirit, observers said.

Xi underlined the need to strengthen studies of the May Fourth Move

ment and its spirit during a speech at the group study session of the Political Bureau of the C

PC Central Committee on Friday, according to a news release issued on Saturday.

This year is the 100th anniversary of the movement launch

ed by young intellectuals and participated in by people from all walks

of life. It was a political, anti-imperialist movement that stemmed from student demonstrations in Beijing on May 4, 1919.

Presiding over the session on the historical significance and modern value of the movement, Xi said the studies shoul

d elaborate on why the movement is of great and far-reaching significance for development and progress in conte

mporary China, and why Marxism has become a guide for the cause of the Chinese people’s revolution, construction and reform.

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