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Fortunately, a growing number of Chinese high net wort

th investors have started to realize the importance of not putting all their eggs in one basket, said Zi Yu

an, head of investment platforms and solutions at UBS Securities. One solution is to hold dif

ferent currencies to avoid the possible risk of the exchange rate fluctuation of one single currency.

“They are looking at more overseas markets. Different markets sometimes are litt

le connected. For example, the Chinese stock market was really disheartening last year. But if an investor all

ocated his assets in the US stock market or other markets with high yield bonds, the loss in the Chinese stock m

arket will be offset and the stability of the entire investment portfolio will be further consolidated,” he said.

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All-women quartet gives Peking Opera a unique touch

For the first time in the history of Peking Opera, four women recently performed a

piece in the China National Peking Opera Company production, Stories of the Red Army.

The Peking Opera performance was one of the 51 productions showcased at the 12th China Art Festival in Shanghai.

Two performances took place at Shanghai’s Majestic Theater on May 27 and 28.

For the show, the CNPOC brought together three stories based on events during the Red Army’s epi

c Long March (1934-36), to create the modern Peking Opera, which premiered in Beijing on Aug 1, 2018.

“They are stories about the resilience and bravery of the Red Army during the Long March,” says Song Chen, head of the CNPOC.

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General Wei is scheduled to give a speech on China’s se

ecurity cooperation with the international community and will meet heads of several

foreign delegations, Wu said at a news conference in Beijing on Thursday afternoon.

hina’s tech giant Huawei Technologies Co maintained its ranking as the w

orld’s No 2 smartphone vendor, continuing to narr

ow the gap with Samsung, the first on the list, market research company Gartner Inc reported.

With 71.62 million in smartphone sales, the world’s top vendor Sam

sung saw its market share reduce from 20.5 percent to 19.2 percent in the first quarter of this year.

Huawei sold 58.4 million units of smartphones in the same p

eriod, up 44.5 percent year-on-year, the highest growth among the world’s top five.

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Xi envisions cooperation on big data development

resident’s message calls for tackling legal, security, governance challenges

President Xi Jinping called on Sunday for strengthened cooperation among countries to explor

e opportunities of digital, internet-based intelligent development and to properly address leg

al, security and governance challenges arising from big data industry development.

He made the remarks in a congratulatory letter to the China Intern

ational Big Data Industry Expo 2019, which kicked off in Guiyang, Guizhou province.

The new generation of information technology, represented by the

internet, big data and artificial intelligence, is booming at present and has significant and

profound influence on various countries’ economic development, social progress and people’s lives, Xi said in the letter.

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Xi highlights independent IPR, core technologiesirs a meet

Meeting in Nanchang eyes achieving new advances in development of country’s central region

President Xi Jinping stressed the significance of owning indep

endent intellectual property rights and core technology while visiting a producer of rare

earth, which he hailed as an “important strategic resource”, in Gan­zhou, Jiangxi province, on Monday.

Xi, also general secretary of the Communist Party of Chin

a Central Committee and chairman of the Central Military Commission, visited the JL MAG Ra

re-Earth Co immediately after he arrived in Jiangxi for the three-day inspection tour.

At the company, Xi learned about its production and operation, the r

are earth industry’s development in Ganzhou, the development and application of the co

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industrial internet and the internet of vehicles are am

ong the country’s top development priorities in the telecommuni

cations industry,” Zhang Feng, chief engineer of the Ministry of Industry and Information Te

chnology, said on Friday during the World Telecommunication and Information Society Day.

Zhang called for accelerated efforts to set standards in key areas, including 5G, to expedit

e the commercialization of this forefront technology and bolster the nation’s core competitiveness.

Major Chinese smartphone maker Huawei Technologies Co has a

lready unveiled its first 5G chip and first 5G foldable smartphone, the Mate X, which is

expected to hit the market in June, despite challenges involving the United States.

Also on Friday, shortly after the US said it would ban Huawei from buying US t

echnology without special approval, Huawei’s chipmaking arm, HiSilicon, said

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countries work to tackle disastersrs ago during which the s

Scientists from China and other countries involved in the Belt

and Road Initiative will work together to enhance scientific and technological coop

eration in disaster prevention and mitigation, according to a joint declaration.

The collaboration aims to make areas along the initiative safer, more sustainable a

nd disaster-proof, according to the declaration published during the two-day International Conference on Silk-r

oad Disaster Risk Reduction and Development, which concluded in Beijing on Sunday.

Sunday marked China’s 11th National Disaster Prevention and Reduct

ion Day, an annual event which began in 2009 after a devastating earthquake hit Sic

huan and neighboring provinces on May 12, 2008, leaving over 87,000 dead or missing.

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Govt should accelerate tax cuts to invigorate economy, pre

Premier Li Keqiang urged government departments to speed up the implement

ation of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturing, constructio

n and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measures in t

he past months, after the measures were introduced by Li in the Government Work Report in March. Th

ey also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision

made by the Communist Party of China Central Committee and the State Council. It has boosted

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China’s determination to expand opening-up and the ong

going reform measures have made its financial market increasingly appealing to overse

as investors,” the administration said on Monday in a statement on its website.

“The administration will continue to support the opening-up of financ

ial markets, meet demand from overseas investors to expand investment in the ma

rkets and attract global long-term capital to enter China’s financial markets,” it said.

Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore

ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co

mpared with $3.099 trillion by March, according to data released by the administration on Tuesday.

China is willing to see the accelerated development of the onshore capital market, said analysts, allowing direct fi

nancing to play a more significant role in allocating savings and investment, and better serve the economy.

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Sino-US talks on trade seen as productiveeets with U

Negotiators from two sides aim to meet next week in Washington to continue

Vice-Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven M

nuchin met in Beijing from Tuesday to Wednesday for the 10th round of trade talks between China and the United States.

The two sides are working on putting bilateral trade on a stronger footing, and the lat

est meetings were productive, Mnuchin wrote on his Twitter account, without giving details.

A Chinese team is scheduled to visit Washington next week for another round of talks, Xinhua News Agency reported.

Liu is also a member of the Political Bureau of the Communist Party of China Cent

ral Committee and chief of the Chinese side of the China-US comprehensive economic dialogue.

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