5G is not just a faster 4G. It will fundamentally reshape

 how enterprises run businesses and overhaul a wide range of industries by using data to create more value,” Lu said.

Greater access to China’s financial sector will encourage global investors and dispel the gloom clouding the global econo

my amid Beijing’s trade tensions with Washington, according to senior officials and economists.

Chinese financial regulators are preparing a comprehensive opening-up, with more new measures in the pipeline. Forei

gn institutions with advanced performance in risk management, credit rating, consumer finance, endowments an

d health insurance are especially welcome, senior officials stressed over the weekend.

The opening measures will offset part of the negative impacts of trade friction on economic

recovery, and enable China to reach its GDP growth target of above 6 percent this year, they said.

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it its lowest level since November. Trade talks betw

ween China and the United States recently faltered and a large amount of additional tariffs are expected to be imposed on imports from both sides.

China will take necessary measures, in response to foreign exchange market flu

ctuations, including using a strengthened risk management system, said Pan.

He also stressed that authorities would crack down on illegal activities in foreign exchange trading.

“China has sufficient policy tools,” said Pan, who is also director of th

e State Administration of Foreign Exchange, the country’s foreign exchange regulator.

The PBOC vice-governor also confirmed on Sunday that China will continually implement

opening-up policies and improve the environment for overseas investors and protect the legal rights of foreign investors.

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Huawei said in a statement on Thursday that restricting t

 company from doing business in the US will not make the US more secure or stronger.

“Instead, this will only serve to limit the US to inferior, yet more expensive alternatives, leav

ing it lagging behind in 5G deployment and eventually harming the interests of US companies and consumers.”

The company said it is ready and willing to engage with the US government to come up with effective measures to ensure product security.

In response to the ban on Huawei buying parts from US companies, the company said such a deci

sion will “do significant economic harm to the US companies with which Huawei does business, affect tens of t

housands of US jobs and disrupt the current collaboration and mutual trust that exist in the global supply chain”.

Wang Peng, deputy head of the China Center for Information Industry Development, said the new US moves will disrupt the whole global electronics in

ustry and hurt a string of US companies that supply chips and other components to Huawei.

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daily entry, exit trips expected for May Day holiday

The upcoming May Day holiday is expected to see an averag

e of 2.2 million inbound and outbound trips made by Chinese and foreign tourists per day, up 5.9

percent year on year, according to the National Immigration Administration (NIA) Friday.

This year’s holiday, from May 1 to 4, is a day longer than previous years and suitable for outbound long-distance trips, said

the NIA, adding that passenger volumes at major airports in places such as Beijing and Shanghai would increase notably.

It anticipates that the average daily tourist flow at the Beijing Capital Interna

tional Airport and Shanghai Pudong International Airport will reach 79,000 and 107,000 respectively.

The ports at different ends of the Hong Kong-Zhuhai-Macao Bridge a

re expected to see a daily average of 105,000 entry and exit trips during the holiday.

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Beijing to enlarge collaborative outreachcorations are pre

Beijing’s municipal government has built bridges between Chinese co

mpanies and countries associated with the Belt and Roa

d Initiative in recent years and plans to enlarge its communication in more fields in the future.

Xiong Jiuling, head of Beijing’s Foreign Affairs Office, said the capital w

ill make greater efforts in nongovernmental exchange programs this year by enh

ancing cooperation in commerce, technology, culture, education and urban management with other nations.

“We will employ better arrangements and methods to coordinat

e different departments to realize our target without increasing government spending,” she said.

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Zhao and Ladjevac will be joined by Hannah Ryder, C

CEO of Development Reimagined and former head of the Policy and Par

tnerships, the United Nations Development Programme, and Andreas Pier

otic, trade commissioner of Embassy of Chile in China. The four will also take questions after delivering their speeches.

China Daily’s Publisher and Editor-in-Chief Zhou Shuchun will open the event with a welcome speech on April 27.

Vision China events have been previously held in Beijing, Hangzhou, Joha

nnesburg and London. The events have been broadcast live on internet and mul

timedia platforms, reaching an international audience, particularly young people.

This upcoming event will also be broadcast live on the China Daily website and

app, as well as China Daily’s account on Sina Weibo, Tencent Video, Toutiao, Bilibili, Facebook and Twitter platforms.

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rists from China view cherry blossoms from a boat in Kyo

hen Zeyong, CEO of online visa service tigerwing.cn, said the Jap

anese government issued 7 million visa stickers for Chinese nationals last year.

“If visas become a bar code or QR code emailed to applicants, their w

orkload will be greatly lessened,” he said during the Shanghai World Travel Fair on Thursday.

Japan Tourism Agency data showed that 8.38

million tourists from the Chinese mainland trave

led to Japan in 2018, representing year-on-year growth of 13.9 per

cent and contributing nearly 27 percent of international tourists.

China has been the world‘s largest source of tourists since 2014, reachin

g nearly 150 million last year, according the Ministry of Culture and Tourism.

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Online visa applications smooth traveChina DailyUpd

Increasing number of countries going digital when reviewing documents

An increasing number of countries have tapped into the convenience of e-visas to at

tract more tourists from China, the world’s largest source of outbound tourists.

According to tourism insiders, the Japanese embassy in Beijing sa

id on Thursday during a meeting with local travel agencies that it will launch e-visa serv

ices on May 1, allowing applicants to submit their materials online instead of sending paper documents.

“The embassy said that e-visa services may be available in consulates in other Chinese cities next year,” said H

an Zhisu, co-founder and CEO of 666visa.cn, a dome

stic platform where visa applicants can submit materials.Chen Zeyong, CEO of online visa service tigerwing.cn, said the

Japanese government issued 7 million visa stickers for Chinese nationals last year.

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It is the duty of car dealers to deliver qualified autom

obile products, and those who refuse to bear responsibility or compensate consumers for

unqualified automobiles violate the law and will be punished, said the China Consumers Association.

The discussion heard that some dealers force consumers to purchase insurance or ask for financial serv

ice fees without issuing invoices, both illegal acts that should be severely punished according to the law, the association said.

During the discussion an unnamed womaen complained that she was sold a defective Mercedes-Benz car.

The woman said the engine of the CLS300 she bought from Xi’an, Shaanxi province dealership Lizh

ixing Co developed problems soon after she bought it March 27, but she failed to get a refund or exchange.

She also said she was asked to pay a “financial service fee” of 15,000 yuan to an employee without knowing what the money was for.

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The report also found out that in the choice of prope

perty, unlike men, women showed stronger preference to those that were close to premium education resources and transport infrastructure.

The changing trend has to some extent affected the marketing strategy of some property developers. Liu Ce, research direc

tor of Kaisa Group Holdings Ltd, a Hong Kong listed property developer, said the look of the property, inc

luding interior design and views, was becoming an important factor, while location and price were less decisive.

“The gender gap in the workplace is shrinking. Thus more women are financially capable of buying properties on th

eir own, especially those living in first and second-tier cities,” said Pan Helin, an economic commentator.

He said as the divorce ratio remained relatively high, owning property provided a sense of security for women.

“Growing salaries of women professionals have changed their perceptions about marriage,” he added. “More

women have come to realize the importance of having their own place and gaining independence.”

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