Nevertheless, it is difficult to separate cyclical elements

and external shocks from the long-term trend and to conclude that China’s potential growth rate really is 6-6.5 percent.

Many Chinese economists cite long-term supply-side structural factors-such as demographic agi

ng, environmental degradation, and a lack of progress on reform-to argue that China has simply en

tered a new stage of development, characterized by significantly lower potential growth rates.

Structural factors don’t explain falling growth rate

While this may be true-everyone in China agrees that 9-10 perce

nt annual growth rates are a thing of the past-there is no clear indication of how much Chin

a’s growth potential has actually declined. Long-term supply-side structural factors do not explain, for exam

ple, why the growth rate fell from 12.1 percent in the first quarter of 2010 to 7.4 percent in the third quarter of 2013.

trwater.com.cn

This issue is similar to the environment. External critics

ent. External critics of China don’t appreciate that Chinese themselves realize there

are issues to be addressed. They are doing so. These developments should be encouraged.”

President Xi Jinping, who spoke at the Second Belt and Road Foru

m for International Cooperation in Beijing recen

tly, listed areas in which China will improve the environment for foreign investment.

The president said the nation will work hard to create a business environ

ment that respects the value of intellectual prop

erty, will improve the legal system for IPR protection at all levels, will strengthen law enforcement and pr

otection for the legitimate rights and interests of foreign IP owners and will bar the

forced transfer of technology, improve protection of trade secrets and crack down on infringement.

www.euitdm.cn

The Belt and Road Initiative, which originated in C

 China but belongs to the world, has become an open and inclusive platform for international cooperation and a well-recog

nized global public good thanks to the concerted efforts of the parties involved, Xi said.

Calling think tanks significant forces for Belt and Road constructi

on, the president said developing think tank exchanges and cooperation helps deepen mu

tual trust, unite consensus and promote the BRI to achieve high-level development.

He expressed the hope that the think tank network would develop in-depth academic exchanges to promote solid coope

ration under the BRI and contribute to the building of a community with a shared future for mankind.

Also on Wednesday, a ceremony to mark the release of the English and French editions

of a compilation of remarks by Xi on the Belt and Road was held in Beijing by the State Council Information Office.

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The country will continue to deepen supply-side stru

ctural reform and consolidate outcomes in its efforts to cut overcapac

ity, reduce excess inventory, deleverage entities and lower costs, the statement said.

More efforts will also be made to strengthen the dynamics of micro-entities, im

prove industry chains and ensure unimpeded flow of goods and services in the national economy.

The meeting also pledged major new outcomes through enhanced reform and opening-up.

More work will be done to seize new opportunities, improve scientific

and technological innovation capacity and speed up green development, said the st

atement, which also stressed the need for the country to take part in the reform of the global economic governance system.

It is also important to resolutely guard against the practice of forma

lities for formalities’ sake and excessive bureaucracy, as well as prevent fraud to ens

ure implementation of requirements set in the Central Economic Work Conference.

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hinese Navy to send huge fleet to take part in sea parade

Qiu Yanpeng (middle), deputy commander of the PLA Navy, attends a press confer

ence for the upcoming multinational naval activity to mark the 70th anniversary of the People’s Liber

ation Army Navy at the press center in Huanghai Hotel in Qingdao, Shandong province, Ap

ril 20, 2019. About 200 journalists from home and abroad attended the press conference.Chinese Navy

will send 32 warships and 39 aircraft to take part in a joint sea parade in waters near Qingdao.

Nearly 20 ships from about 10 countries will participate in t

he sea parade on Tuesday, deputy commander of the PLA Navy Qiu Yanpeng said.

A Singapore Navy frigate arrived on Friday in Qingdao, Shan

dong province, becoming the first foreign warship to arri

ve ahead of a grand event to honor the 70th birthday of the People’s Liberation Army Navy.

The PLA Navy will hold multinational naval activities in Qingdao and nearby waters from

Monday to Thursday to celebrate its founding anniversary. They will include a joint sea parade, high-level sympo

siums, public tours of ships, military music performances and other cultural exchanges.

www.olyfwg.cn

Military drill near Taiwan ‘necessary’sman for the State Coun

Mainland slams response by island’s leader, who called exercise ‘a threat’

A spokesman for the Chinese mainland said a military drill by Chinese bombers and warships around Taiwan on Monday was routin

e and slammed the island’s administration for misleading the Taiwan people and hyping tensions.

On Monday, various warships, bombers and reconnaissance aircr

aft of the People’s Liberation Army Eastern Theater Command conducted “necessary train

ing” around Taiwan as a means to test the joint assault capability between different branches of the military, Senior Colone

l Zhang Chunhui, the theater command’s spokesman, said in a statement on Monday.

The exercise took place in waters east of Taiwan and was part of a scheduled PLA exercise, he said.

“It is completely within the normal legal rights of a sovereign cou

ntry, and it’s beneficial for maintaining peace and security in the Taiwan Straits,” Zhang said.

www.21nh.cn

Vehicle sales in China continue to drop, NEV sales rise

hinese sales of passenger vehicles, MPVs, SUVs and minivans in March dropped 12 percent on a yearly basis to 1.78 million units.

This is the 10th consecutive monthly decrease, according to the C

hina Passenger Car Association (CPCA), Changjiang Times reported.

The MPV sector saw the largest sales decline, 20.2 percent to 130,000 units in the pas

t month, while SUVs and sedans dropped 10.7 and 12 percent, respectively.

The decreases in 2019’s first quarter are mild compared with those at the end of the last year, CPCA said.

As the State-VI emission standards will be implemented from July 1 this

year, some Japanese brands have launched corresponding products ahead of their co

unterparts, and performed well in sales and consumer confidence, CPCA said.

“Automobile sales in North China, and those in the county and township level, are still weak,” the association added.

hheeh.cn

Apple, in rare reversal, pulls plug on wireless charging mat

Apple Inc on Friday said it is canceling the AirPower wireless charging mat that

the company announced in 2017 on t

he same day as its iPhone X, a rare public retreat for the gadget maker known for splashy product launches.

The mat was intended to wirelessly charge up to three Apple products at

once, such as an iPhone, Apple Watch and AirPods wireless headphones.

While wireless charging has spread through the gadget industry, chargi

ng three devices at once with higher wattage “fast charging” has proved challengi

ng. Furniture seller Ikea, for example, sells a $60 matt that can handle three

phones but it only features slower 5-watt charging.

In a statement, Apple said that it had concluded that its AirPower mat “will

not achieve our high standards.”

“We apologize to those customers who were looking forward to this launch,”

Dan Riccio, Apple’s senior vice president of Hardware Engin

eering, said in the statement. “We continue to believe that the future is

wireless and are committed to push the wireless experience forward.”

ax125.cn

We support the BRI globally because it’s a big project wi

ith so many applications in different parts of industry and the economy, and we want agreements, project by project.”

Raffarin was appointed special envoy on China affairs by French President Emmanuel Mac

ron. He pointed out that it is not pragmatic to have an agreement about every industrial sector, because, as sovereig

n states, both countries need to protect the interests of their own businesses and industries.

“It’s easier to go project by project, and, after some experience, we can add a larger vision,” Raffarin said.

His comments came after Italy signed a BRI memorandum of understanding with China during

Xi’s visit to Rome last week to become the first G7 country to join the global infrastructure plan.

According to China’s Ministry of Commerce, from January to November 2018, China’s direct investment in France reached $330 mil

lion. China’s growing investment in Europe has prompted concerns in the West, which Raffarin thinks are misplaced.

www.qianpadag.com

Extra pilot averted disaster on previous Boeing 737 Max 8 flight

An off-duty pilot in the cockpit of a Boeing 737 Max 8 jet jumped in to help

crew disable a malfu

nctioning flight-control system as it experienced difficulties in October, according to Bloomberg.

The next day, with a different crew, the same plane crashed into the sea off Jakarta, killing all 189 people on board.

On doomed Lion Air Flight 610, pilots searched in a handbook f

or a way to stop the plane from nosediving, according to an exclusive Reuters report.

Reuters cites the information from three people with knowledge of the contents of the cockpit voice recorder that has never been made public.

Indonesia’s National Transportation Safety Committee (KNKT) has refused to comment to CNN on the content of the voice r

ecorder as the investigation is still ongoing. Boeing also refused to comment to CNN on the matter Wednesday.

Indonesian authorities found the cockpit voice recorder in the Java Sea on January 14 and said it could take up to a year to publish a full report into the crash.

www.xzzygk.com