considerable excitement. True, the company faces similar

bstacles to those that Asian and Latin American platforms previously had to overcome, including a

lack of reliable payment systems, low trust between buyers and sellers, and logistics and deliv

ry bottlenecks. But the experience of other regions shows that these shortcomings can be addressed over time.

Internet regulations must not be disruptive

The bigger risk to these platforms stems from the inevitable and necessary increase in regulation of the internet arou

nd the world. In particular, diverse national regulatory regimes may inadvertently or deliberately disrupt or bloc

k the international development of e-commerce ecosystems, hurting lower-income countries in the process. Avo

iding the creation of such unintended obstacles should therefore be a high priority for the international community.

blghuafenchi.cn


The reform and opening-up policies are exactly the ki

inds of market-driven reforms needed to make this happen. The Chinese government is investing heavily in resear

ch and development, but it should be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

Nobody likes competition against themselves. So, it must be admitted that China’s transition to a high-tech, high-

value-added economy will come as a shock to many companies around the world. The US economy, which has about 7

percent of GDP in high-tech manufacturing, will be lightly affected by this change.

On the other hand, advanced manufacturing contributes around 20 percent of GDP in Sout

h Korea, Japan, Germany and a few smaller European countries. They will be much more directly affected.

www.aishedesat.com


Bioethics experts call for more oversightand

Four leading ethics scholars in China are urging government authorities to intensify their supervision over scientific resea

rch to reduce the chances of unethical use of biomedical technologies involving gene editing and stem cells.

The appeal, published in the journal Nature on Wednesday, referen

ced a major ethical scandal in November, when a Chinese scientist announced he had pro

duced the world’s first twin human babies whose genes were altered to make them immune to HIV.

Hundreds of Chinese scientists voiced opposition and questioned the safety and effectivene

ss of the procedure following the announcement by He Jiankui, 35, who was an associate professor at So

uthern University of Science and Technology in Shenzhen, Guangdong province.

ozsnl.cn


lopment and prosperity, we need to promoEquality

te exchanges among civilizations and dialogues based on harmony in

diversity and inclusiveness. We need to undertake the cultural responsibility of int

ernational communicators, and let exchanges of culture and among civilizations, as well as mutual learning, con

stantly serve as bridges for people’s friendship, the impetus of international cooperation and bond of world peace.

Second, we should become builders of world peace and development. The wheel of humanities’ development is uns

toppable. Peace, reconciliation and harmony are historical trends. Equality, mutual trust and win-win cooperation are hi

storical necessities. Yet, as international conventions are attacked and multilateral mechanisms are cha

llenged, the anti-globalization tendency rises, and unilateralism and trade protectionis

qw46q.cn


Xi’s speech on opening-up is well receivedpolicies

President lays out proposals to encourage foreign investment, guarantee fair competition

The measures that President Xi Jinping recently proposed to encourage foreign investment and further opening-up in Ch

ina are welcome developments that address the international community’s concerns, according to experts.

“The promises made are very positive, and all of them are helpful,” William Over

holt, senior research fellow at Harvard’s Kennedy School of Government, said of Xi’s keynote speech at the

opening of the Second Belt and Road Forum for International Cooperation in Beijing.

Xi brought up a series of reform and opening-up measures, including expanding market acce

ss for foreign investment in more areas and working harder to ensure the implementation of opening-up policies.

China’s pledges included shortening its negative list for foreign investments, opening up more sect

ors to foreign businesses, guaranteeing fair competition and planning new free-trade zones and ports.

www.hmijw.cn


Specifically, the draft likely will and should feature key

 reforms to foster an investor-friendly legal system, represented by strengthened information disclosure, prot

ection of investors’ rights and interests, and crackdown on legal breaches, Liu said.

China must promote the healthy development of the capital m

arket through key institutional innovations, the Political Bureau of the Communist Part

y of China Central Committee, the Party’s core leadership, said a statement released after a meeting on Friday.

Dong said the revised law is likely to be adopted by the end of the first half of the ye

ar, adding it is imperative and possible to expedite rolling out the revised version.

“Previously, controversies over the registration-based IPO system reform ha

ve prolonged the revision process, but now this factor has been largely lifted,” he said.

“As foreign investors are set to play a bigger role in China’s capital

market development, the revised law should also consider clarifying the rights and oblig

ations of overseas investors, to help them form a stable policy expectation,” said Xue Yi, an associate p

jsLongsun.com


Analysts guessing over central bank’s next move

Debates on whether the central bank needs to further ease monetary policy or not are continuing amo

ng analysts, with their emphasis on guessing the next liquidity injection through reducing banks’ reserved deposits.

Supporters of monetary easing expect that another cut in the re

serve requirement ratio (RRR) may come no later than this week, as a liquidity shorta

ge may occur after commercial banks pay back 366.5 billion yuan ($54.65 billion) to the central bank on Wedn

esday. That amount of interbank lending was conducted previously under the medium-term lending facilities (MLF) scheme.

Opponents, however, contend that the current liquidity is sufficient, and any further ea

sing will fuel inflation risks, especially as Chinese economy has started its upcycle.

The central bank’s monetary policy committee held the first quarter’s regular meeting on Friday.

The members achieved a consensus to continue the counter-cyclical measures and stren

gthen coordination between monetary and fiscal policies. Policy fine-tuning should be at the proper time, to prev

ent risks with the priority of stabilizing growth, according to a statement after the meeting.

renrencanzheng.org


But the underlying trend for the past five years is enc

ncouraging: annual TFP growth of about 3 percent, with especially strong growth in the tertiar

y sector. So, notwithstanding the recent slowdown in aggregate GDP growth, services-led Chi

nese rebalancing is imparting meaningful productivity leverage to the economy as a whole.

The question now is: Can China sustain its recent TFP trajectorya dist

inct possibility in light of an increasingly powerful shift to indigenous innovation and

the sustained services-led productivity of a growing cohort of well-educated knowledge workers-as well as rea

p the benefits of continued upgrading of its capital stock? If it can, the new Chinese study concludes that China’s potential GDP growth rate could hold aro

nd 6 percent over the next five years. Such an outcome would conform quite closely with China’s longer-term ambitions.

So, despite the days of 10 percent Chinese growth being over, which w

as inevitable, there is good reason to believe that the real story is China’s shift from qua

ntitative to qualitative growth. Which suggests China will defy yet again widespread fears of a looming middle-income trap.

www.ypwhl.cn


In a spectacular display of indecision, the House of Comm

ons has voted against remaining in the EU and every version of leaving the EU,” tweeted James Cleverly, the Conservative Party’s deputy chairman.

Nevertheless, some proposals fared better than May’s deal had done two weeks ago, and parlia

ment was due to hold more indicative votes on Monday after refining the options most likely to secure a majority.

Many Conservative eurosceptics had made clear they would only c

onsider supporting May’s deal if she gave a firm commitment to resign, hoping a new leader

would be more sympathetic to their views when negotiating the terms of Britain’s future relationship with the EU.

“I have heard very clearly the mood of the parliamentary party,” May told a meeting of Conservative lawmakers (MPs).

“I know there is a desire for a new approach – and new lead

ership – in the second phase of the Brexit negotiations – and I won’t stand in the way of that.”

But within hours of May’s offer, the Democratic Unionist Party, which props up her minority gov

ernment, said it would vote against the deal if May brought it back a third time.

chuangxiangjie.cn


If the US Congress continues to send the wrong signals

to the “pro-independence” DPP, it will embolden the Tsai authorities to take more risky acti

ons, and thus damage cross-Straits ties further, harming the interests of Beijing and Washington both.

US Congress members are elected by American voters as their representatives and, ther

efore, they should always put the interests of their people and country first. And instigating the Tsai authorities to fu

rther damage cross-Straits ties certainly doesn’t serve the interest of either American voters or the US as a country.

The author is a professor at the Institute of Taiwan Studies, Beijing Union University. The views don’t necessarily repre

sent those of China Daily.President Xi Jinping and Italian Prime Minister Giuseppe Conte (both seated), witness the

signing of a memorandum of understanding on joint construction of the Belt and Road between He Lifeng, head of the N

ational Development and Reform Commission, and Luigi Di Maio, Italian deputy prime minister, in Rome on Saturd

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