The country’s GDP grew by 6.4 percent in the first qua

arter, which represented the 14th consecutive quarter in the 6.4 percent to 6.8 percent range.

The country added 4.59 million urban jobs in the first four months, with total imports an

d exports up by 4.3 percent year-on-year and its foreign exchange reserves remaining above $3 trillion.

Xi said there will be ample factors to reinf

orce the steady, healthy and sustainable growth of the Chinese economy.

The president called the country’s large pool of resources a prima

ry factor. China has a population of nearly 1.4 billion, a 900-million-strong workforce, the w

orld’s largest middle-income population and over 100 million market entities.

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In 2016, Xi wrote a reply to 12 primary school students

 in Taizhou, Zhejiang province. They were the grandchildren of those who cultivated the uninhabited Dachen Islands in the 1950s.

In March 2017, Xi joined with primary students in Beijing to

plant trees and encouraged them to foster a219ccccom-3/nvironmental protection from childhood.

In 2018, replying to a letter from a primary school in Shaanxi provi

nce, Xi expressed hope that the students would learn more about the history of the revolution, follow th

e example of heroes and role models, love the Party, the country and the people and carry on fine revolutionary traditions.

hina has raised additional tariffs to a maximum 25 percent on part of the $60 billion worth of US prod

ucts, effective June 1, according to a statement by the Customs Tariff Commission of the State Council.

The rates of additional tariffs on some of the products will be increased to 25 percent, 20 perc

ent, and 10 percent, respectively. The 5 percent additional tariffs applied to some products remained unchanged.

The move came after the US’ latest tax increase on $200 billion worth of Chinese goods from 10 percent to 25 percent.

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China and India are already working together to tackle t

 the impending oil crisis and the rising threat of the Islamic State group. China and India are the world

‘s largest and second-largest importers of oil and also the second-and fourth-largest buyers of liqu

efied natural gas. As such, energy imports are critical to their development. The US’ attempts at regime change in Ira

n and Venezuela-the world’s third-and fourth-largest oil suppliers-by imposing stifling sanctions accompanied by a m

ilitary buildup in the Gulf have raised the specter of the potential closure of the Strait of Hormuz.

China and India have revived their 2005 proposal and formed a “joint w

orking group on energy” to identify avenues for cooperation including how to rein in risi

ng oil prices. They already have a “joint working group on countering terrorism”. A

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Wuxi officials punished over kindergarten ‘gang’ question

Three officials in Wuxi, East China’s Jiangsu province, have been given Party and administrative

punishments on Thursday over an inappropriate question about whether kindergarten children wer

e involved in gangs, the local government said on its official Wechat account.

According to the government of Wuxi’s Xishan district, Feng Dongyan, director and Party ch

ief of the Xishan Education Bureau, has been given the punishment of warning within the Party.

Wang Zhaoyu, director of the educational bureau’s general office, has been given a serious war

ning within the Party and removed from office. Lu Zhongxian, director of the bureau’s educational equ

ipment and student aid management center, was also given a serious warning and dismissed.

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he May report summarized that China’s growth appear

ears to be stabilizing on the back of recently enhanced supportive measures.

The report expanded the number of countries it scrutinizes for curr

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

quivalent 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 Washi

ngton will continue assessing the RMB’s performance given China’s large trade surplus with the US, the report said.

The US Treasury removed India from the watch list, while it added Singapore, Malaysia and Vietnam.

“Chinese authorities have not used the exchange rate in prior easing

cycles to support growth, and they are unlikely to do so now, as this could pose macr

oeconomic stability risk,” said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

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Multiple channels needed to keep job market healthy

The Chinese government has accorded priority to achieving stable and expanding employment

among its six stabilization tasks. The importance of stable employment has also been highligh

ted in this year’s Government Work Report. And the State Council, China’s Cabinet, recently established the Emp

loyment Work Leading Group headed by Vice-Premier Hu Chunhua to deal with employment issues.

The government is making special efforts to stabilize and expand employment, especially be

cause of the intensifying Sino-US trade dispute and the increasing uncertainties in international trade.

The China Institute for Employment Research of Renmin University

of China has calculated the employment market index, which shows the health of th

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Chinese investment in the United States is creating go

ood jobs in areas that are poor, where good jobs are needed,” he said. “We should celebrate that advancement of econ

omic opportunity in the United States. And similarly, we should expand US investment in China.”

US goods exports to China declined by 7 percent in 2018, as trade disputes between

the two economies began to bite, but still outpaced growth in exports to the rest of the world over the past decade, ac

cording to the 2019 State Export Report released earlier this month by the US-China Business Council.

The report said China continued to be important to US economic growth, supporting more than 1.1 million jobs.

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Besides electrified vehicles, Volkswagen and JAC have

also partnered with local authorities in Hefei to test autonomous

driving technologies, including robotaxis and autonomous fleet management, and on-de

mand mobility services, like ride hailing and car sharing, but none of the parties revealed the details.

Kong Xuanyou, vice-foreign minister and special representative of the Chinese government on

Korean Peninsula affairs, will take up his new post as Chinese ambassador to Japan on Thursday.

Kong, 59, is a fluent Japanese speaker. During his 34-year diplomatic care

er, he has spent two-thirds of the time dealing with issues related to Japan.

He has served in Chinese diplomatic missions in Japan on three occasions, and was China’s ambassador to Vietnam from 2011 to 2014.

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In April, the CSRC pledged to promote the opening-up

 of stock index futures. At present, onshore stock index futures are unavailable to overseas invest

ors, and they can only hedge risks associated with investing in A shares through offshore instruments.

“After the stock index futures market opens up, investor bases will dive

rsify, helping China’s capital market achieve a higher efficiency in asset pricing,” Wang sai

d, adding that capital market reform and opening-up is part of China’s moves to promote quality development.

“One of the key priorities this year is to accelerate the development o

f direct financing and the capital market, to strengthen the capital market’s capacity to pr

omote economic growth,” Guo Shuqing, the People’s Bank of China’s Party secretary and head of the China Ban

king and Insurance Regulatory Commission, said in an interview with China Central Television on Monday.

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hile the United Kingdom remains deeply divided over Br

ded over Brexit, most agree that it will shape the future of the United Kingdom for generations to come.

Pro-Europeans fear Brexit will undermine London’s position as one of the world’s top two financial capitals and weake

n the West as it grapples with Donald Trump’s unpredictable US presidency and growing assertiveness from Russia and China.

The Liberal Democrats, who campaigned under the slogan “Bollocks to Brexit”, oppose Brexit and want a second referendum to stop it.

The loss of Britain for the EU is the biggest blow yet to more than 60

years of efforts to forge European unity after two world wars, though the 27 other me

mbers of the bloc have shown surprising unity during the tortuous negotiations.

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