On May 22, on her own program, The Point With Liu Xin, Liu a top anchor on the English-languag
e channel of CGTN, said the $600 billion figure is an estimate by a nonprofit organization that had not been verified.
Liu said it refers to the US’ possible IP loss to the world in a year, according to the organization’s report, China Daily reported.
She said Regan’s points were “all emotion” with “little substance”.
Regan responded on Twitter: “Hey #China State TV – let’s have an HONEST debate on #trade. You
accuse me of being ’emotional’ and not knowing my facts – wrong! You name the time and place, and I’ll be there!”
In accepting the challenge, Liu wrote on Twitter: “My name is not #China State TV. It’s LIU Xin and ple
ase, feel free to call me Xin. … But I don’t want to play any mud throwing game, if that’s what you prepare to do.”
ocuments including a guideline on innovation and improving macro-regulation
, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.
The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize economic
growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr
eventing risks, and ensuring social stability, according to a statement issued after the meeting.
The strategic guiding role of national development planning should be leveraged to improve coordination mec
hanisms for economic policies such as finance, currency, employment, industry, and regional development to en
sure the nation’s economic development stays within a reasonable range, the statement said.
of stock index futures. At present, onshore stock index futures are unavailable to overseas invest
ors, and they can only hedge risks associated with investing in A shares through offshore instruments.
“After the stock index futures market opens up, investor bases will dive
rsify, helping China’s capital market achieve a higher efficiency in asset pricing,” Wang sai
d, adding that capital market reform and opening-up is part of China’s moves to promote quality development.
“One of the key priorities this year is to accelerate the development o
f direct financing and the capital market, to strengthen the capital market’s capacity to pr
omote economic growth,” Guo Shuqing, the People’s Bank of China’s Party secretary and head of the China Ban
king and Insurance Regulatory Commission, said in an interview with China Central Television on Monday.
ch means even if Beijing does not take countermeasures equal in scale to Washington’s, the US economy will not be left unscathed.
Tariff hike will harm both China and US
The list of products subject to US tariff hike covers daily necessities, light industry and machinery, with the main targets
being agricultural and food products, and general manufacturing goods produced by light industries.
In terms of agricultural and food products, China is the third-largest supplier to the US, with processed fruits and
vegetables; fruit and vegetable juice; fast food and snacks; fresh vegetables and tea leaves being the main items.
d to bear the brunt of the tariff hike, because the tariffs will raise t
he prices of consumer goods. Besides, the higher tariffs will deal a blow to many US industries.
China’s countermeasure will have intended effect
The results of a quantitative simulation analysis show China’s counterm
easure of imposing tariffs on $60 billion of US goo
ds will have the intended effect, as the US’ losses are set to mount. According to the simulation analysis, China’s GDP, man
ufacturing jobs, exports and imports could reduce by 0.622 percent, 1.046 percent, 3.402 percent and 1.945 percent, w
hile that of the US could dip by 0.067 percent, 0.907 percent, 2.611 percent and 3.936 percent.
technologies that it enables, are harnessed for the benefit of mankind while minimizing the risks to develo
pment, peace and security and human rights,” Guterres said in a congratulatory letter to the expo.
Miao Wei, minister of industry and information technology, said China has already made signif
icant progress in bolstering the big data industry with a string of big data platforms established in sec
tors such as manufacturing, commerce, finance, transportation and medical care.
“We will make a fresh push to integrate cutting-edge information technologies into the real econo
my, including establishing a national industrial data center, to better power the country’s sp
rawling manufacturing sector,” Miao said at the opening ceremony of the big data expo.
According to the ministry, China’s digital economy reached a total volu
me of over 31 trillion yuan ($4.5 trillion), or 34.8 percent of its GDP, in 2018.