The two sides also dis亚博88娱乐场会所the increased purchase of

?US agricultural products by China according to its own domestic needs and favorable conditions to be offered by the US side for the purchase.

亚博88娱乐场会所Minister of Commerce Zhong Shan, Governor of the People’s Bank of China Yi Gang, Vice Minister in Charge of the Nat

ional Development and Reform Commission Ning Jizhe, Deputy Director of the Office of the Central Commission for亚博88娱乐场会所品茶微信

Financial and Economic Affairs and Vice Finance Minister Liao Min, Vice Foreign Minister Zheng Zeguang, Vice Mi

nister of Industry and Information Technology Wang Zhijun, Deputy Director of the Office of the Central Ag

亚博88娱乐场会所ricultural Work Leading Group and Vice Minister of Agriculture and Rural Affairs Han Jun, and Vice Minister of Co

mmerce and Deputy China International Trade Representative Wang Shouwen joined the consultations.

The two sides will hold the next round of high-level economic and trade consultations in the United States in September.亚博88娱乐场会所品茶微信

hina’s official manufacturing Purchasing Managers’ Index rose to 49.7 in July, up from

49.4 in June, according to a statement of the National Bureau of Statistics on Wednesday.

亚博88娱乐场会所品茶微信The non-manufacturing business activity index stood at 53.7 in July, compared with 54.2 in the previous month.

The composite index, which combines results of manufacturing an

d non-manufacturing surveys, came in at 53.1 in July, up from 53 in June.亚博88娱乐场会所

A reading above 50 indicates activity expansion while one below that mark means contraction

Skateboarding is thriving now, but it’s taken the hard work of dedi

亚博88娱乐场会所cated and bruised practitioners to build up momentum, Xing Wen reports.

A low rumble, punctuated by the rhythmic “click, click, click” caused by the grouting bet

ween paving slabs. A scrape, a sharp “CLACK”, silence, and a clatter, followed by the return of that mo亚博88娱乐场会所品茶微信

notonous rumble… It’s a soundtrack heard on nearly every street in almost every corner of the world.

It is the music of defiance and rebellion, of freedom and youth. It’s a song

that parents hate and that evokes dollar signs in the minds of osteopathic doctors.

亚博88娱乐场会所品茶微信Yet, in Tokyo next year, it will be one of the loudest played pieces in the concerto of the Summer Olympics. Skateboarding

has finally arrived on the biggest stage in the world-and China is looking for a front-row seat.

These days, young people skateboarding wherever the street furniture for亚博88娱乐场会所品茶微信

ms ramps, bumps, rails and ledges may be common-along with hearing slang terms lik

e “lock in” and “drop in”-but, the development of skating culture in China is a 30-year story.

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Watching rankings o亚博88娱乐场会所er capita consumption ex

penditure and national per capita disposable income, the two rankings’ top 10 provincial level regions are almost same, showing Shangh

亚博88娱乐场会所品茶微信ai (22,513 yuan), Beijing (21,134 yuan), Tianjin (15,967 yuan), Zhejiang (15,732 yuan), Guangdong (13,884 yuan), Jiangsu (1

3,025 yuan), Fujian (12,521 yuan), Liaoning (10,709 yuan), Hubei (10,416 yuan) and Chongqing (10,263), as well as Sh

anghai (35,294 yuan), Beijing (33,860 yuan), Zhejiang (26,356 yuan), Tianjin (22,461 亚博88娱乐场会所yuan), Jiangsu (21,624 yuan), Gua

ngdong (20,322 yuan), Fujian (18,591 yuan), Liaoning (16,421 yuan), Shandong (16,159 yuan) and Chongqing (14,990 yuan).

亚博88娱乐场会所Among of the top 10 provincial level regions with the highest spending on consumption, the figure of Southeast Chin

a’s coastal provinces accounted for a half, including Shanghai, Zhejiang, Guangdong, Jiangsu, and Fujian, with the pe

亚博88娱乐场会所品茶微信capita consumption expenditure in the five regions exceeding the national average level.

Shanghai’s wholesale and retail sales jumped 9 percent year-on-year t

o 607.93 billion yuan in the first six months of 2019, with the accommodation and c

atering retail sales reaching 58.22 billion yuan, up 2.9 percent from same period of last year.亚博88娱乐场会所

In addition, the retail sales in Zhejiang reached 1.27 trillion yuan, a 9.3

percent climb year-on-year and in Guangdong 2.07 trillion yuan, up 7.7 percent year-on-year.亚博88娱乐场会所品茶微信

Although the consumption volume in the country’s central and western regio

ns was less than in southeastern coastal provinces, the consumption grew fast.

亚博88娱乐场会所In the first six months of this year, the retail sales in Sichuan, Henan and Jiangxi increase

d 10.5 percent, 10.7 percent and 11.2 percent, respectively, which were higher than 2.1 percentage p

oints, 2.3 percentage points and 2.8 percentage points than the national average level.亚博88娱乐场会所品茶微信

Some regions feature service consumption, developmental consump

tion and experience consumption as the mobile internet technology developing, said the People’s Daily.

亚博88娱乐场会所In Beijing, the service consumption contributed 70.4 percent to the consumption g

rowth in the first half of this year, and the upgrading consumption such as communication, ed

ucation, culture entertainment, and medical care contributed more than 60 percent to the consumption growth.

In Shanghai, the no-store retail sales reached 117.32 billion yuan in the first half of this year, surged 20.4 percent year-on-year.亚博88娱乐场会所品茶微信

The online consumption will continue to grow rapidly, as the ne

twork infrastructure and telecommunications services promoting, the 5G networking accelerati

ng, the new generation information technology breaking through, the new business featuring digitization,

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Luo also noted that inte亚博88娱乐场会所mpanies are the new

?this endeavor. Youku started its digital restoration project in 2017, with many results. E

arlier this year, iQiyi also launched its own restoration project featuring the use of ZoomAI, a video-en亚博88娱乐场会所

hancing solution devised by the company, to restore and remaster 50 select TV dramas.

亚博88娱乐场会所Before the adoption of new technologies, restoration of the old works, most often in lower resolution, was done manually and it

took a day to restore a 40-minute-long episode. Now, iQiyi’s ZoomAI software, comprising algorithm modules suc

h as color enhancement, sharpening, and white balance, can restore a high resolution feature film in just one hour.亚博88娱乐场会所

The restoration process starts with scanning the film negatives or prints into a digital pict

亚博88娱乐场会所品茶微信ure and raw sound format. Then each frame of the scanned material undergoes an automated digital res

oration process that involves the correction of color, brightness, and contrast. The process also involves the dig

ital removal of scratches and unnecessary noises, restoration and remastering of sound, said Liu Junhui, a senior director from iQiyi.亚博88娱乐场会所

Even with the aid of AI technologies, digital restoration of old productions is no mean fea

亚博88娱乐场会所品茶微信t, as increasing the image resolution is one thing, but restoring its original texture is quite another, which requ

ires technologies, as well as a craftsmanship spirit. For instance, 30-plus members of the Youku digital res

toration team worked for as long as a month to fully restore the 1983 megahit,?The Bund.

“Our team has made various attempts to enhance audiences’ viewing experien亚博88娱乐场会所

ce. If only the definition is increased through transcoding, audiences may feel that the im

ages have been doctored through filters. So we went to great lengths to restore the texture that is unique to the pe

riod when the classical series was shot,” said Guo Linna, a senior visual optimization engineer from Youku. 亚博88娱乐场会所品茶微信

Though Youku’s digital restoration team is made up of no more than 40 members who

do not work full time, every week it can restore 100-plus episodes of old TV dramas.

Speaking of her original motivation, Guo said that she chose to restore those old TV series because on the one hand, she wa

亚博88娱乐场会所品茶微信nted the post-80s generation to have better access to recalling childhood memories, and on the other hand, she wan

ted the younger generation to gain new experience through watching these classic works.

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On the other hand,亚博88娱乐场会所he past, the Fed now has t

to take the delayed effect of balance sheet reduction conducted earlier into its consideration of rate cuts. The current phase-out of balanc

亚博88娱乐场会所e sheet reduction already has some easing effect, and only after the balance sheet reduction ends in September, can its impact become clearer.

By incorporating that impact into consideration, the Fed can draw up a better rate cut plan that maximizes effects of the policy mix.亚博88娱乐场会所

Thirdly, the market may have overestimated how much the Fed will cut the rates. There may be no more than three rate cuts by the end of 2020.

St. Louis Fed President James Bullard – the major advocate of this

round of rate cut – has suggested the use of the modern-day Taylor rule, which fairly well explains th亚博88娱乐场会所

e Fed’s interest rate decisions. Even based on this model adopted by dovish Fed officials, we found that the degree of rate cuts may be weaker than m

亚博88娱乐场会所arket expectation for quite some time going forward: at most one cut by the end of this year and likely two or three cuts by the end of 2020.

By contrast, before the June FOMC meeting, the market expected a higher-than-85-percent chance of more than one rate cut by the

end of this year as well as an about 60-percent chance of more than three cuts by the end of 2020, according to Bloomberg data.亚博88娱乐场会所品茶微信

In conclusion, we think as economic downside pressure gradually emerges, the Fed will have to kick off the rate cut cycle. But the rate cut si亚博88娱乐场会所品茶微信

gnal, timing and degree may not measure up to the market expectation. Therefore, two future developments appear possible:

First, investor sentiment can reverse drastically if the Fed’s action fails to meet market expec亚博88娱乐场会所品茶微信

tation. Considering the market has fully priced in the unrealistic expectation of rate cuts sinc

e early June, any reversal of expectation can lead to short-term fluctuations of key price signals such as the US Treasury yield cu

rve, the US Dollar Index, and the gold price, which may pose extensive spillover shocks to asset portfolios.

Second, the long-term trend of rate cuts will continue even if the market expectation reverses. In the long

run, the Fed is expected to proceed with rate cuts in a fairly slow and smooth way. This will enlarge the monetary policy room of ot

her major economies and expedite the shift toward an easing global monetary environment, which may in turn lift the sen

timent of global stock markets and ease any currency risk of emerging markets gradually.

Cheng Shi is the managing director, head of research and chief economist of ICBC Interna

tional Holdings Ltd.Qian Zhijun is a senior economist of ICBC International Holdings Ltd.

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China will channel 亚博88娱乐场会所品茶微信s from the Belt and

d Road Initiati亚博88娱乐场会所品茶微信ve to Africa, he said, adding that both partners should respect market pri

nciples and ensure economic and social benefits to improve the continent’s capacity for sustainable development.

Wang said more than 880 cooperation projects will be carried out in the next three years.

In a news conference on Tuesday afternoon, Vice-Minister of Com

merce Qian Keming said that in their next step, China and Africa will carry out capacity-buil

ding cooperation and promote infrastructure, trade and investment cooperation. China will increase imports fro

m Africa to ensure the continent shares in the huge Chinese market, he added.

Ugandan President Yoweri Museveni said the eight major initiatives have helped address the de

velopment challenges facing African countries and will help guide their cooperation in the right direction.

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And the process to re亚博88娱乐场会所女神会所 nuclear issue can

?achieve progress o亚博88娱乐场会所女神会所nly if the neighboring countries including China, the Republic of Korea, Japan and Russia can

mediate between Pyongyang and Washington and bring them back to the negotiation table. Joint third-party eff

orts have become even more necessary now that the US-DPRK talks are deadlocked.

If the neighboring countries are willing to provide large-scale economic help to the DPRK, the latter could take active part in global affairs while expediting its denu

clearization process. And if the DPRK integrates with the international community, it will learn from China’s ope

ning-up experience how to accelerate its economic development for the benefit of its people.

Jin Qiangyi, head of International Politics Institute at Yanbian University

Strong China-DPRK ties key to peninsula stability

Xi was invited by top DPRK leader Kim Jong-un to visit the country and chose to do so in

the year marking the 70th anniversary of the establishment of Beijing-Pyongya

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tries virtual reality technology in a smart classroom prim

Use of new tec亚博88娱乐场会所品茶微信hnologies in online education is breaking boundaries for the nation’s students

Yang Ming, a 33-year-old immobile and partially sighted man from

Chengde, Hebei province, never imagined he could become his family’s “financial adviser”.

However, in late April, he noticed trouble brewing in the financial stat

ements of a company whose stock was owned by his relatives, so he advised selling the shares.

Although they were reluctant at first, his relatives sol亚博88娱乐场会所品茶微信d the s

hares at a slight loss, but kept most of their 4,000 yuan ($578) investment intact.

A short time later, the company’s stock went into free fall when the Shanghai Stock Exchange plunged as a result of risi

ng uncertainty over trade negotiations between China and the United States.

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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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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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By late April, China had been hit by 129 African swin

fever outbreaks, affecting all 31 provinces, municipalities and autonomous regions on the mainland, since the country’s first reported outb

reak 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 v

accines 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 a

nnual production of 700 million pigs. Pork accounts for 62 percent of meat con

sumption in China, and sustained outbreaks of African swine fever will cause devastating consequences to the pi

g industry and endanger China’s food security, the Chinese Academy of Agricultural Sciences said.

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