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ectors have been a “wild west” where Chinese firms did not hesitate to
copy each other or foreigners. But, as China has developed its own technology and moved u上海千花网品茶微信
p the value chain, protecting intellectual property rights has become a high priority for the government.
上海千花网At the China Development Forum in March, Vice-Premier Han Zheng emphasized: “We w
ill step up our efforts for IPR protection as well as law enforcement in various aspects, and establish a sy上海千花网
stem of punitive punishment for IPR infringement to significantly raise the cost of violating the law.”
上海千花网品茶微信And, President Xi announced that China will strengthen intellectual property rights protectio
n in his April speech to the second Belt and Road Forum for International Cooperation.上海千花网
Also, the removal of the requirement that foreign companies enter in
上海千花网to joint ventures should alleviate any fears about mandatory technology transfers.
Financial market reforms
Reform of the financial sector is moving especially rapidly. China will allow full foreign ownershi上海千花网
p of securities firms, futures businesses and life insurance companies by 2020, a year earlier than was s
上海千花网品茶微信cheduled, Premier Li Keqiang told the Summer Davos Forum. Foreign institutions will be offered treatment e
qual to that of domestic companies in credit references, credit ratings and payments, he said.
Li emphasized that this reform is part of a broader push to force domestic上海千花网
firms to upgrade as they face foreign competition. “Further opening to foreign investors, we are no
上海千花网品茶微信t just providing them with opportunities to enter the Chinese market. We are also providing opportu
nities for the financial sector to upgrade and to improve its quality on a level playing field,” Li said.
Measures to boost private sectorThe Chinese government has also recently announced mea上海千花网品茶微信
sures to improve the availability of credit for the private sector and reduce taxes on it.
In a discussion with foreign CEOs at the Summer Davos meeting, Li noted that small and medium-sized companies and private e上海千花网
nterprises provide over 80 percent of employment in urban areas and 60 percent of GDP.
The Sino-Singapore Knowledge Forum was held in the city-state at the Four Seasons Ho
tel on Friday, when officials and top executives from both sides signed numerous agreements.上海千花网
It was the first time that the annual event has been held in Singapore. Previously, it had been hosted in Guangzhou, Guangdong province for the past five years.
上海千花网品茶微信As a flagship project of the Sino-Singapore Guangzhou Knowledge City, an example of bilateral cooperation, the SSK
F is currently the only high-level forum that is now taking turns to be held in China and Singapore, its organizers said.
Themed “forging new frontiers – all-round opening-up and innovation-driven development”, this year’s f上海千花网
orum was designed to tap the collective intelligence of think tanks, experts and business leaders from China and Singapore.
At the event, trending topics were explored during panel discussions regar
上海千花网品茶微信ding future cooperation and development between the two countries, the organizers said.
An estimated 250 guests from Singapore and China attended, following the Singa
pore-Guangdong Collaboration Council’s ninth meeting, which was held the morning of the same day.上海千花网品茶微信
A series of agreements were signed during the meeting.
Among them was a memorandum of understanding for the development of an international artificial intelligence innov
上海千花网品茶微信ation center funded by TUS Financial Group from China and Ascendas-Singbridge Group from Singapore.
In response to the Chinese government’s drive to create an international in
dustry innovation hub in the Guangdong-Hong Kong-Macao Greater Bay Area, the center is pl上海千花网
anned to be built at the Sino-Singapore Guangzhou Knowledge City and leverage its research and de
velopment resources to achieve breakthroughs in core chip technologies, local officials said.上海千花网品茶微信
The Sino-Singapore Guangzhou Knowledge City is located in the Guangzhou Development District.
he next five to seven years, China’s policy support for new energy vehicles will drive g
lobal growth,” said Kou Nannan, head of research at Bloomberg New Energy Finance.
As early as in 2012, the State Council introduced a pipeline to guide the development of the natio
n’s EVs, with a goal of producing 2 million units and selling 5 million EVs by 2020. Later on, cent
ral and local governments carried out a series of subsidy policies in the NEV industry, such as purchase tax exemption an
d purchase subsidies, to offer greater support to the industrialization of China’s NEV industry.
According to the agency, China will specifically lead in the e-bus market. It is estimated that by
2025, China’s e-bus fleet share will reach 50 percent, and by 2040, the ratio will rise to roughly 80 percent.
This year, PetroChina’s Xinjiang Oilfield Company has been fully develop
ing the Jimsar shale oil field, which boasts 1 billion tons of shale oil reserves, Xinhua reported.
The company has mobilized 36 drilling rigs, started drilling on 47 wells and completed eight wells till now. The daily drille
d footage surpassed 2,000 meters and the total drilled footage reached 160,000 meters.
PetroChina has ramped up exploration efforts on Bohai Bay Basin, Songliao Basin, Ordo
s Basin and Junggar Basin in recent years and shale oil was listed as one of the four exploration goals. Dagang Oilfi
eld, Xinjiang Oilfield, Tuha Oilfield and Changqing Oilfield have been set as important demonstration zones.
Xinjiang Oilfield Company said it planned to mobilize 45 drilling rigs this year to finish drilling nearly 100 wells.
trade, they could decline by 0.134 percent, 0.323 percent and 0.869 percent. Th
e US tariff hikes therefore will increase the economic pain of the US and world economies.
Agricultural products, chemicals and chemical products, textiles and g
arments are the main US items targeted by China’s higher tariffs. But despite the higher tar
iffs providing some protection for domestic industries, Chinese consumers might have to pay more to purchase them.
In the first four months of this year, the volume of Sino-US trade dropped by 15.7 percent to $161.23 billion. In terms of product
structure, US exports of raw materials and foods to China saw the biggest decline, among which the export of so
ybeans plummeted by half in March compared with the same period last year. And US exports of plant products, mi
nerals, jewelry and precious metals declined by more than 85 percent in the first quarter.
with five suburban districts of Tongzhou, Yanqing, Changping, Huairou and Shunyi upgrading it to yello
w alert later. These areas were hit with strong winds as high as 8-9 grades, with gales reaching 10 grade
at some places. According to forecast, the wind could still be as high as 7-8 grades on Monday.
The gale toppled a wall near Dongzhimen Bridge in downtown Beijing, hitting three pedestrians,
two males and one female. Two of them died at the scene and one at hospital, Dongcheng District said via Sina Weibo.
Food delivery service Meituan said one of its deliverymen was hit and killed by a fallen tree when delivering food.
The speed of wind reached 10-15 meters per second at the Capital International Airport starting from 10 a
m Sunday, with gales as fast as 20-25 meters per second, the airport said. Due to the strong wind, th
e operational ability of the airport dropped and remained low until 7 pm Sunday.
ward underground to Lize Financial Business Area, which is about 3.5 km from Caoqiao Statio
n, so passengers can transfer to Line 14 and Line 16, which are under construction, and Line 11, which is planned.
Masood Khalid, Pakistani ambassador to China, said Chinese culture is a reflection of the cou
ntry’s long and rich history. “It is a civilization that has made an imprint on global culture,” he said.
The ambassador listed a variety of manifestations of Chinese culture, which include Chinese cuisine, dance, art, and costume.
“The way Chinese people attach importance to their family and their children, lookin
g after the elderly – all these practices and traditions have been inherited over time,” he said. “Then after har
d work, they come together with their families and friends.”
A city terminal will be established in the Lize Financial Business Area, p
roviding check-in and luggage check services. Passengers will enjoy more convenience with
the ability to check their luggage and get their boarding passes before they arrive at the new airport.