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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 se
nior 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 excha
nge 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.
is 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
The emerging service sector also grew very fast, Meng said.
In April, the information transmission industry
, along with software and inform ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.
etail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.
d the transformation of traditional industries is speeding up as they combine with information technology. “Through implementing national big data and inter
net plus strategies, internet, big da ta, and artificial intelligence technologies have been widely used in China’s real economy,” she said
ent of the Belt and Road Initiative, are boosted by China and Azerbaijan
via linking people of the two countries in cultural ex
change, education, human itarian dialogue and tourism cooperation. China and Azerbaijan signed a m
emorandum of understanding to stim ulate tourism between the two countries. “Data from 2018 shows 15,000 Chinese tourists visited Azerbaijan last year, w
hich is not enough of course, and we aim to do mor
e to attract more visitors in the coming years,” Hajiyev said. He also highlighted education exchanges between the two countries, as China has sent students to study language in Azerba
ijan and viceAs Azerbaijan has a favorable political and geographic location
, the country aims to become a tran sport hub connecting Europe and Asia under the framework of the Belt and Road Initiative. “The point of the transp
ortation network is to integrate it with the original countries,” Hajiyev said, adding Azerbaijan has built a network of transp
ortation including seaports, airports, railways and land roads.-versa. “We are looking forward to increase the numb
er of (students) because we see they can play the role of a humanitarian bridge between our countries.”
diplomatic ties. During their meetings, Xi agreed with French President Emmanuel Macron and Prime Minister Edouard Philippe to f
orge a more solid, stable and vibrant China-Fra
nce comprehensive strategic partnership, and continue to explore the way for major countries to get al ong with each other, which should feature independence, mutual understanding, foresight, mutual benefit and win-win outcomes, Wang said.
In the joint statement issued by China and Fran
ce on jointly safeguarding multilateralism and improving global governa nce, the two sides pledged to build international relations of mutual respect, equality, justice, and win-win coop
n the basis of respecting international laws and the basic principles of international norms, Wang said. Speaking of Xi’s visit to Monaco, Wang said leaders of the two cou
ntries have agreed to firmly stick to the correct direction of bilateral relations, adhere to open
ness and co
operation, and pursue more win-win results so as to jointly elevate the China-Monaco relations into a new era. During Xi’s talks with Prince Albert II, head of state of the Prin
cipality of Monaco, the Chinese president said both sides should adhere to openness and cooperation a
nd pursue more win-win results, adding that China welcomes Monaco to actively participate in the joint development of the Belt and Road.
that was put forward by Xi, and the initiative is expected to promote the interconnectivity of the Eurasian continent.
The BRI is also a road of cultural exchanges, he said, adding that Italy would li
ke to enhance cooperation with China in tourism and culture. Italy ad mires China’s achievements in economic development, and it appreciates China’s opening-up policies, he said.
and China are ancient civilizations, and the people of the two countries have sufficient wisdom to deal with challenges nowadays, he said, adding that China’s rejuvenation will bring new contribut
ions to peace and prosperity. China will take a solid step toward becoming a high-income country this year,
reating more space to deepen reform and expand o
pening-up, economists said on Friday. A more balanced growth pattern will help the world’s second-largest ec
onomy pass the “middle-income trap”, with consumption and high-tech man
ufacturing leading growth, they said at a Beijing seminar leading up to the 2019 China Development Forum, which starts on Saturday.