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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.
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
in 2018, up 10.9 percent year-on-year with mobile games accounting for 47 percent of the total at $63.2 billion, up 12.8 per
cent year-on-year, gamesindustry.biz reported citing statistics from market analysts Newzoo.
China’s actual sales revenue of gaming industry rose 5.3 percent year-on-year to 214.44 billion yuan ($31.11 billion) last year, accounti
ng for 23.6 percent of the global gaming market, Financial Times reported, adding that social respo
nsibility should be an important part of gaming industry development.With the approach of full com
mercial use of 5G, local governments in China have intensively introduced their plans on 5G development recently, as r
egions like the Pearl River Delta region, Yangtze River Delta region and Beijing-Tianjin-Hebei region are gearing up t
o cultivate industrial clusters valued at trillions of yuan, according to a report by Economic Information Daily.
would have likely been fine, but with minimal support, once something goes wrong it’s tough to get back on course,” Madison told Reuters.
Mount Everest can also be climbed from Tibet and casualties have been reported from there this season too.
China overwhelmed Japan 3-0 to win the record 11th title of the Sudirman Cup here Sunday afternoon.
Li Junhui and Liu Yuchen, the World Championships 2018 winners, awarded China th
e opening point in the men,s doubles by beating Hiroyuki Endo and Yuta Watanabe 21-18, 21-10 in 54 minutes.
Then, the 3rd-ranked Chen Yufei rallied from one game down to turn the t
ide for the hosts, winning the women’s singles 17-21, 21-16 and 21-17 in one hour and 21 m
inutes against 4th-ranked Akane Yamaguchi who took the last six points in a row to take the first game.
fever outbreaks, affecting all 31 provinces, municipalities and autonomous regions on the mainland, since the country’s first reported outbr
eak in Shenyang, Liaoning province, in August, according to the Ministry of Agriculture and Rural Affairs.
This resulted in more than 1 million pigs being slaughtered to prevent and control the disease, which is deadly to pigs but does no
t affect people. The ministry has called for intensified research and development to expedite the availability of va
ccines for disease prevention and control, but admitted difficulties due to the complex nature of the virus.
China is the world’s largest producer and consumer of pork, with an annual produc
tion of 700 million pigs. Pork accounts for 62 percent of meat consumption in China, and su