More steps needed to tackle debt problemscess shou

China has less motivation to further stimulate economic growth, but the government needs to search for more me

thods to control debt and reduce default risks, according to officials and economists.

China’s macroeconomic leverage ratio, or the total debt-to-GDP proportion, rose slightly in the first quarter, but the overall leve

rage level still remained stable, Huang Xiaolong, deputy head of the Financial Stability Bureau of the P

eople’s Bank of China, the central bank, said at a media conference on Wednesday.

Recent research from the Chinese Academy of Social Sciences s

howed that by the end of March, the macro leverage ratio climbed to 248.83 percent from 243.7 p

ercent in 2018, as the government utilized several easing policies to support GDP growth in the first three months

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yramid-shaped glutinous rice dumplings wrapped in reed leave

To celebrate the Dragon Boat Festival, which falls on June 7, the fifth d

ay of the fifth lunar month on the traditional Chinese calendar, foreign students from the C

hinese Culture and Literature School at Nankai University learned to make zongzi, or pyramid-shaped glu

tinous rice dumplings wrapped in reed leaves, and weave five-color strings to appreciate Chinese culture on June 3.

Students learned about the festival and its origins, as well as dragon b

oat racing, hanging calamus and wormwood, and drinking realgar wine.

The school has more than 700 foreign students

from 60 countries and regions, and regularly organizes events, such as flying kites and making mooncakes, to c

elebrate traditional Chinese festivals, helping the students learn and experience traditional Chinese culture.

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Vladimir Yakunin, chairman of the Dialogue of Civilizat

tions Research Institute, said that against the backdrop of growing globa

l discord, Xi’s visit demonstrates the strategic relationship of the two countries.

During Xi’s visit, the two leaders will attend a series of events commemorating the 70th anniversary of the establishment of bilater

al ties, which will include the official opening ceremony of a panda facility at Moscow Zoo, Zhang said. A pair of gia

nt pandas were delivered to Moscow Zoo in April for research cooperation.

St. Petersburg State University, Putin’s alma mater, will award Xi an h

onorary doctorate during the visit, Zhang said. P

utin was granted the same honor by Tsinghua University, Xi’s alma mater, in April.

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Efforts should be stepped up to build a higher-level, higher

quality food security system that is more efficient and more sustainable to guarantee the nation’s grain reserves, the statement sai

The US government is the one to blame for its self-contradictory actions that have led to escalating trade frictions with China, the Ministry of Commerce said on Thursday.

The US government has been sending self-contradictory signals, by saying that the two countries

will soon reach an agreement and then saying that it is not ready, said Gao Feng, the ministry’s spokesman.

US President Donald Trump said on Monday in Japan that Washington isn’t ready to strike a trade deal

with China, but he’s leaving open the possibility that the two nations could reach an agreement someday.

Gao said it is hard not to cast doubts on the sincerity of the US.

He added that the escalation of the trade dispute has seriously undermined the basis for further talks and the US is the one to blame.

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He cautioned that the government should have a clear

outlook on the long-term and complex characteristics of all unfavor

able factors both at home and abroad, and should prepare for all possible difficulties.

The most important thing for China is to focus on its own issues, X

i said, adding that joint efforts are needed to push forward reform and development.

Xi required governments in the central region to promote the high-quality development o

f the manufacturing sector and speed up the application of digital, internet and intelligent technologies in all areas.

More efforts are needed to promote independent innovation capabilities in key are

as, speed up developing core technologies with independent intellectual property rights, enc

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Central Committee decided to launch a campaign on th

he subject of remaining true to the Party’s original aspirations and keeping its mission firmly in mind.

On Monday afternoon, Xi also visited the home of Sun Guanfa, a 71-year-old veter

an who is also a descendant of a Red Army martyr, at Tantou village, Zishan township.

Hearing that Sun’s family members had no difficulties in employment and education, Xi said as long as the people follow th

e Party’s leadership, China will definitely achieve great rejuvenation and the people will enjoy a better life.

“The Communist Party is dedicated to making the people happy, and the CPC Central Committee is making all efforts to b

ring about better lives for the people,” Xi said while visiting a greenhouse in the township.

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Ren said the current difficulties can spur China to devel

lop the electronics industry in a down-to-earth manner. Pouring in money is not enough to develop the s

emiconductor industry. Instead, talent, including mathematicians and physicists, is needed to grow the chip sector.

“Global talent is also needed. It is very difficult to rely solely on China’s independ

ent innovation to succeed. Why can’t we embrace the world and rely on global innovation?” Ren added.

Don’t fan nationalist sentiment,” Ren also warned. Currently, the attitudes toward Hua

wei are divided into two groups. One represents the genuine patriots who support Huawei, while the o

ther believes that Huawei has kidnapped the patriotic feelings of the entire society.

“We should stop others from shouting empty slogans and inciting nationalist sentiment,” Ren said.

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Huawei launched its 5G smartphone in London on Thu

rsday as mobile network operators prepare to switch on 5G network in parts of the United Kingdom, Xinhua reported.

Also in Saturday’s call, Wang Yi urged the US to observe the one-China policy and the three joi

nt communiques between the two countries, and handle Taiwan-related issues carefully and properly.

The US House of Representatives passed a resolution reaffirmin

g the US commitment to Taiwan and the Taiwan Assurance Act of 2019 earlier this month.

Wang noted that China has expressed its firm opposition to the US recent negative remarks and actions related to Taiwan.

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Singaporean prime minister Lee Kuan Yew’s and curr

ent Malaysian Prime Minister Mahathir Mohamad’s championing of Asian values as the ideal way to govern their countries.

Lee and Mahathir maintained that in Asia, social order and strong governance are keys to a stable and wealthy society.

This type of governance succeeded in fostering rapid growth in Singapore, Malaysia, South Korea and China. Sant

arita said strong Asian leaders are effective because they serve their constituents and value mutual respect and discipline.

Analysts said the Asian emphasis on community and harmony can help resolve some of the wo

rld’s most pressing international issues such as territorial disputes, climate change and sustainable economic development.

Santarita cited the current dispute over the South China Sea which some

times strains relations between nations. He said the claimants can opt to work to

gether to develop and share resources offered by the South China Sea’s blue economy.

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During Spring Festival, the proportion of small-town yo

ouths who traveled rose by 101 percent year-on-year, compared with 50 per

cent among peers in bigger cities, according to major online travel agency Ctrip.

Ruan Tianying, deputy general manager of Western-style food chain Houcaller, said t

hat with fastgrowing urbanization in China, lower-tier cities definitely offer great potential.

Houcaller, founded in Xiamen, Fujian province, in 1993, plans to operate about 400 store

s in 100 Chinese cities, with more than two-thirds of them located in lower-tier centers by the end of this year.

Ruan said consumption per capita at Houcaller outlets is about

60 yuan, and about 80 percent of its more than 30 million customers a year are age 36 or younger.

“Opening a restaurant involves different factors, so we cannot reach lower-tier cities as quick

ly as fast-moving consumer goods do,” he said, adding that in these cities, the market still needs to be educa

ted about eating Western-style food, which involves a different dining etiquette from Chinese food.

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