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In May, the offshore RMB exchange rate against the US do

dollar dropped more than 3 percent under market pressure as global investors worried about the escalation of trade friction.

Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monda

y that higher US tariffs on China’s imports triggered financial market volatility, and this also affected the offshore RMB.

The currency’s depreciation was purely caused by market forces, a

d China has never taken any measures to deliberately devalue the currency to make its exports more

attractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.

According to Guo, the short-term fluctuation of the RMB exchange

rate was normal, and the depreciation will not last long given the stable economic growth base.

ax148.cn

On Monday morning, Xi visited the JL MAG Rare-Earth

 Co and learned about the company’s production of rare earths and the development of the rare earth industry in Ganzhou.

On the heels of the United States government announcement it will ban unauthorized exports of US technology to Hua

wei, by Monday, a number of major US tech giants, including Google, had reportedly stopped supplies.

Amid the escalating tit-for-tat trade blows between the world’s tw

o largest economies, the US putting Huawei, the face of Chinese hi-tech progress, on its Ent

ity List is no doubt a calculated blow to hit China and Huawei where it hurts. “America will probably use its ability to with

hold components from Huawei as a bargaining chip in a future trade deal with China,” The Economist reckons.

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The report was based on an experimental survey condu

cted by the China Consumer Association from December to March, which included mor

e than 1,700 students from elementary, junior high and senior high school.

According to the report, most elementary school students were first exposed t

o the internet in third grade, and these 9-year-old students accounted for 32.2 percent of th

e total. For junior high school students, most had their first online experience at the age of 12 years in grade six, a

nd these students comprised 21.7 percent. Among high school students, the peak period to access the internet fell duri

ng their first year in junior high school, with these 13-year-olds representing 19.4 percent.

The report shows over 90 percent of teenagers use electronic devices for study or playing game

s every week. What deserves attention is that the percentage of inevitable exposure to electronic devi

ces among elementary school students is significantly higher than that of the other two groups.

www.qiuLuhuang.cn

Politburo upbeat on economic datag Motors on the assem

China’s economy grew better than expected in the first quarter and market confidence was raised in

an outstanding way, according to a statement from a meeting presided over by President Xi Jinping on Friday.

During the meeting of the Political Bureau of the Communist Party of China Central

Committee, members analyzed the current economic situation and made plans for economic work.

In the first quarter, government departments pushed forward high-quality growth, deepene

d supply-side structural reform and carried out positive fiscal policy and stable monetary policy, the statement said. Main mac

roeconomic figures were in proper range, and reform and opening-up was pushed forward continuously, it said.

The statement said lots of difficulties and problems remain in economic development, with m

ore tension in the external economic environment and downward pressure on the domestic economy. Government departments shou

ld remain steadfast and be brave in overcoming difficulties in economic development, it said.

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Last month, China has set its GDP growth target for this

year at a range of 6 to 6.5 percent, according to the 2019 Government Work Report.

A further 3.24 million new urban jobs were added in the first quarter, and the survey

ed unemployment rate remained at a comparatively low level of 5.2 percent in

March. Consumer price registered a moderate rise by 1.8 percent in the first three months this year.

A basic equilibrium in the balance of payments was m

aintained, and China’s foreign exchange reserves remain more than $3 trillion.

Economic structure further improved during the same period. Value-added high-tech se

ctor’s output rose by 7.8 percent, higher than the country’s value-added industrial output.

In the first quarter, NDRC has approved 50 fixed asset investment projects, mainly i

n the fields of energy, transportation and high-tech sectors. The total investment hit 370.3 bill

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People-to-people contacts, as a non-ignorable compon

ent of the Belt and Road Initiative, are boosted by China and Azerbaijan

via linking people of the two countries in cultural exchange, education, human

itarian dialogue and tourism cooperation. China and Azerbaijan signed a memorandum 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 more 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.”

yeaste.cc

being of the public, improve governance at the prim

 level and provide basic social services.Premier Li Keqiang met with the participants of the national conference on Tuesday.

He appealed to the civil affairs authorities to prioritize efforts to meet the basic needs of the people, extend assist

ance to those most in need and build an even more tightly woven safety net for the public’s livelihood.

It is also important for them to better meet the needs of the elderly, those with disabilities, the sick, and children living in difficult circ

umstances, he said, adding that basic social services should be better developed to help the public better address their problems.

The reform to streamline administration, enhance compliance oversight and improve governmen

t services should be deepened so that the public can more easily access administrative services, the premier said.

He also highlighted the importance of giving more play to the role of the private sector

so that services such as eldercare and nurseries can blossom to enrich the supply of social services and create more jobs.

www.qe78w.cn

The draft amendment to the patent law has been sub

The government has started formulating matching regulations and rules to support implementation of the Foreign Invest

ment Law, adopted two weeks ago, Li said, adding that supporting regulations will take effect along with the law on Jan 1.

The draft amendment to the patent law has been submitted to China’s top legisl

ators. It sharply increases compensation for infringement to a cost that violators will not be able to afford, he said.

Forced technology transfers are prohibited and violators will receive harsh penalties, Li said. The complaint mecha

nism for foreign-invested companies will be perfected to improve exchanges and coordination between the gover

nment and investors, making it an effective way to protect the legal rights of foreign companies, he said.

China will not resort to massive economic stimulus to boost

growth, but will continue to open up and innovate to energize market players, Li said.

www.7893396.cn

Three government ministers quit their posts so they could

back the motion. Richard Harrington, who resigned as a junior business minister, accused the government of “playing roulette with the lives and liveli

hoods of the vast majority of people in this country” by failing to resolve Britain’s Brexit impasse.

The government said it was disappointed by the vote, claiming it “upends the balance

between our democratic institutions and sets a dangerous, unpredictable precedent for the future.”

But it also conceded that the new votes might be a way to break the months-long Brexit gridlock. May said she would “engage

constructively” with the results of the process, though sahe said she was skeptical that it would produce a decisive result.

The move raises the chances that Britain will tack toward a softer Brexit, and is likely to be welcomed by th

e EU. Guy Verhofstadt, the European Parliament’s Brexit coordinator, tweet that it was an “opportunity to build a cross-party coope

ration leading to an enhanced political declaration & a closer future relationship!”Earlier in the day, May ack

nowledged, “with great regret,” that her deal still lacked “sufficient support” to be approved as of Monday.

qianhuain.com

Footage of the attack on one of the mosques was broa

  dcast live on Facebook, and a “manifesto” denouncing immigrants as

“invaders” was also posted online via links to related social media accounts.

  It is customary in Islam to bury the dead within 24 hours but no bodies have

been released because of the investigation, police said.

  Arden said bodies would be handed over to families from Sunday evening.

  ”It is likely, however, to be a small number to begin with,” she told a media

briefing, adding that all should be returned by Wednesday.

  Ardern said police would be posted at all mosques while they are open.

  Police Commissioner Mike Bush said the body of the 50th victim was found at

the Al Noor mosque, where more than 40 people

died after a gunman entered and shot at people with a semi-automatic rifle with

high-capacity magazines, before travelling to a second mosque.

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