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Renminbi to remain stable, regulator saysknotes at a ba

Central bank vice-governor voices confidence amid currency volatility

The monetary authority vowed to stabilize the renminbi amid escala

ted trade tensions, while continuing to push forward financial opening-up and pr

otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.

“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma

rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi

ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.

Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do

llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h

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The phone call took place days after the US Commerce Dep

artment announced on Wednesday it will add telecommunications eq

uipment maker Huawei and its affiliates to the Entity List on Wednesday. Being on the list

bars the company from buying US technology without government approval due to security concerns.

On the same day, US President Donald Trump signed an executive order that bars US companies fr

om using telecom equipment from manufacturers considered a national security risk, without mentioning Huawei by name.

Such moves, as well as the increase of tariffs on $200 billion worth of Chinese goods earlier this m

onth, complicated the prospect of continuing the bilateral trade talks that have been ongoing for more than a year.

China has always believed in and hoped to solve trade differences thr

ough talks, but such talks should be equal, Wang said. In any talks, China must protect its legitim

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hina plans to boost rural development via digital technologies

China plans to promote the applications of digital technologies in rural areas to boost local development.

As a step towards rural modernization and transformation, digital rural development play

s a crucial role in rural revitalization and building a digital China, according to the guideline jointly issue

d by the general offices of the Communist Party of China Central Committee and the State Council.

The country has vowed to achieve initial development of buildin

g digital villages by 2020, with 4G internet accessible to more than 98 percent of the adm

inistrative villages and the digital economy growing rapidly in rural regions, the guideline said.

With the upgrading of internet technology, 2025 will see a n

otable narrowing of the urban-rural digital gap, the establishment of various ent

repreneurial and innovation centers in rural areas, and an intellectual rural logistics system.

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Chinese coffee startup Luckin Coffee will price its initial p

public offering at $17 per share on Nasdaq Stock Exchanges, CNBC reported on Friday.

This price is at the top of its expected range from $15 to $17 in a regulatory filing, indicating the value of the company at about $4.2 billion.

Luckin Coffee raised $150 million in the most recent Series B+ round of financing, lifting the B

eijing-based company’s valuation to about $2.9 billion, the company announced on April 18.

With the aid of new technology, Luckin Coffee provides customers convenient service with innovative business model.

“The old way is people looking for coffee. With us coffee finds the people,” Luckin Coffee’s Co-founder Eric Guo told CNBC.

As a representative of China’s new retail based on mobile app, Luckin Coffee, founded in 2017, has expanded at a rapid pace.

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Quotable quotes from business leaders at 3rd WIC

Praising Tianjin’s efforts and achievements in intelligent sc

ience and technology, Liu Chuanzhi, board chairman of Legend Holdings Co Ltd, pred

icted the city will make a qualitative leap in two to three years by combining intelligent technologies with manufacturing.

Liu, also founder of Chinese computer giant Lenovo, said his company, like Tianjin, considers intelligent technology a new imp

etus. Lenovo is working on many intelligent applications and has invested in many high-tech ma

nufacturing enterprises. It uses various artificial intelligence-driven algorithms and machine learning to ana

lyze the data of its supply chain system, using it to optimize Lenovo’s new intelligent spare parts supply chain.

Liu Qingfeng, chairman and CEO of iFlytek, said the company has developed a series o

f products driven by AI applications, based on small samples over the past year.

The company’s latest technological breakthrough is for the first tim

e its machine has surpassed humans in English reading comprehension, Liu said.

He said that he believes AI in 2019 has entered the year of large-scale application.

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He said that it’s of great importance to promote such philos

philosophies to enhance the exchanges and mutual learning of diverse civilizations.

Frederick W. Russell-Rivoallan, a program specialist and head of social and human sciences for UNESCO, hailed the dialogue of Asian civilizations.

“It’s a great way to concentrate in this part of world, but it’s also

a global inspiration – bringing countries together, understanding other cultures, respecting each

other and sharing with each other,” he said. “That’s the way that we can understand each other better and live together better.”

China will extend 1,000-Megabyte broadband connection to more than 300 cities and cut the

average service rates by 15 percent for small and midsized enterprises this year. The measures are desi

gned to achieve multiplying effects of expanding domestic demand, boosting employment and improving people’s lives.

The decision was made at the State Council’s executive meeting chaired by Premier Li Keqiang on May 14.

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Roads and buildings were illuminated Tuesday evening befor

I hope all Asian countries will respect and trust each other, co-exist in harmony, expand cross-border, cross-time-and-space as well as cross-civ

ilization exchanges, and jointly maintain the peaceful time that is more valuable than gold.

Asian people expect Asia of common prosperity

I hope all Asian countries will jointly promote economic globalization that is open, inclusiv

e, balanced, and beneficial to all, and work together to eliminate poverty and backwardness in some countries.

Asian people expect open, integrated Asia

Civilizations will lose vitality if countries go back to isolation and cut themselves off from the rest of the world.

Mutual respect, equal treatment among civilizations stressed

It is foolish to believe that one’s race and civilization are superior to

others, and it is disastrous to willfully reshape or even replace other civilizations.

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Pilot project to eradicate urban waste gets underway in

China officially launched the “no-waste city” pilot program in 16 area

s on Monday as it steps up efforts to recycle its increasing waste stockpile.

The pilot program covers the entirety of 11 cities, including Shenzhen, Guangdong pr

ovince, and Weihai, Shandong province, and sections of the other five cities.

The central government has made arrangements to offer support to

the pilot areas in policy, technology and funding, said Zhuang Guotai, vice-mi

nister of ecology and environment, at the launch ceremony in Shenzhen on Monday.

He said an expert committee has been established to guide the pilot program and

evaluate progress, and seven groups have been put in place to offer technical support.

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“Learning to work together in an orderly, high trust

level, and supported by diverse interest groups will prevent conflicts among stakeholders in the South China Sea,” Santarita said.

Scientists from China and other countries involved in the Belt and Road Initiative will work together to enhance scientifi

c and technological cooperation in disaster prevention and mitigation, according to a joint declaration.

He said Asia’s emphasis on “respect for authority, respect for the environment and the discipli

ne to control the use of resources” will also see Asian leaders pursuing a more eco-friendly dev

elopment path and honor their commitments to the Paris climate agreement.

“If there is harmony, discipline, stability and the primacy of family and com

munity over the individual, then any problem can be easily addressed,” Santarita said.

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Since women have “internalized the thin ideal” from soci

ial media, they develop a negative relationship with their bodies. This often leads th

em to engage in “fat talk”-resulting in much lower self-esteem, Shen added.

Ye, from Hangzhou, who works as an accountant for Silergy Corp, said more than 90 percent of her colleagues in the finance

department are women, ranging in age from the early 20s to late 40s. Some have families, while others are singl

e or just “jump into” romantic relations. But all of them have varying degrees of dissatisfaction with their body shape.

“Every woman in our office is unhappy with at least one part of her b

ody. One of them might say her face is too round, while others are unhappy with their arms when

we sit together and gossip,” said Ye, who weighs 48 kg but frowns as she looks at the shape of her thighs.

“I have often thought I would be more attractive if my thighs were thinner,” she said, a

dding that one of her colleagues had not eaten dinner for at least two years in order to stay slim.

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