Month: March 2019

But China should realize that some EU countries have

 become increasingly cautious about deepening cooperation with China because of its rapid developm

ent; in fact, a few EU countries have decided to implement tougher measures for foreign trade. The European Commission even put

forward a 10-point policy package on China on March 11, which the European Council discussed on March 21.

But the fact that the Commission sees China as a “cooperation partner”, “negotiating partner”, “eco

nomic competitor” as well as a “systemic rival” means it wants to build on the partnership of strategic cooperation with China.

The EU’s attempt to coordinate the concerns of its different members and its efforts to continue dialogue with China reflect coope

ration are not a subjective choice of one single EU country but an objective choice for the mutual interest of all the parties involved.

China has addressed many of the EU’s concerns to strengthen coop

eration, including further opening-up. And it should keep taking measures to strengt

hen cooperation and communication to settle the disputes with EU countries and meet the emerging challenges.

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World’s widest immersed channel takes shape

The first tube of the world’s widest immersed channel is expected to be put in position of a mega bridge across the Lin

gding Bay at the mouth of the Pearl River in South China soon, according to an assistant chief engineer of the project.

Yang Runlai from CCCC First Harbor Engineering Co Ltd said Thursday that workers are preparing

for the connection of a tunnel end on an island with the first immersed tube, the Science and Technology Daily reported.

Yang’s company took charge of constructing an island and major part of the tunnel of the Shenzhen-Zhongshan Bri

dge, another mega project of bridge, island and tunnel after the Hong Kong-Zhuhai-Macao Bridge (HZMB).

The new project, 38 kilometers from the HZMB, is 24 kilometers long. It has the immer

sed tunnel in the east and the bridge section in the west to ensure the sea routes there.

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Chinese telescope collects more than 11 mln spectra

China has released 11.25 million spectra of celestial objects acquired by the Large Sky Area Multi-Object Fiber Spectroscopic Telescope (LAMOST) to astrono

mers worldwide, according to the National Astronomical Observatories of China (NAOC) of the Chinese Academy of Sciences Friday.

As the world’s largest spectral survey telescope, LAMOST mark

s the world’s first spectral survey project to obtain more than 10 million spectra.

Spectra are key for astronomers to read celestial bodies’ chemical compositions, densities, atmospheres and magnetism.

Among the released spectra, there are 9.37 million high-quality spec

tra, which is twice the total number of other astronomic surveys internationally. Th

ere are also 6.36 million stellar spectra, creating the largest stellar parameter catalog in the world.

Finished in 2008, LAMOST began regular surveys in 2012. The telescope is located in NAOC’s Xinglong Observatory, in north China’s Hebei Province.

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streamline certain fees related to ports, highways and airpo

he said. In addition, the ministry will step up its efforts to manage the effects of eliminating highway toll stations at provincial boundaries.

The ministry also called for small and medium-sized enterprises to forge alliances for common development to consolidate the fragmented logistics sector.

In recent years, China’s logistics industry has been experiencing consistent growth on the back of steady economic progress and a rising domestic market. Accor

ding to the National Development and Reform Commission, logistics expenditures rose 9.8 percent to 13.3 trillion yuan, am

ounting to 14.8 percent of last year’s national GDP. The share was slightly up from the previous year.

The logistics sector is of strategic importance in the development of the market econom

y, and the ministry has been making consistent efforts to reduce logistics costs and raise efficiency. It redu

ced logistics spending by 56 billion yuan in 2016, 68 billion yuan in 2017 and 98 billion yuan in 2018.

China ranked 12th last year in the World Bank’s logistics performan

ce index covering 160 countries and regions. China’s position has moved up 15 places since 2016.

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hina to improve transport efficiency, reduce logistics costs

China will unveil various measures to improve transport efficiency and lower logistics costs, according to a spokesperson for the transport ministry.

Vowing to see a notable increase in transport efficiency in the next

three years, the country will accelerate the construction of a comprehensive tra

nsport network, spokesperson Wu Chungeng told a news conference on March 28.

Efforts will also be made to expand the electronic toll collection system and promote multimodal transport, Wu said.

Meanwhile, the logistics costs are expected to be reduced by 120.9 billion yuan (about $17.97 bil

lion) in 2019, and a logistics service system in line with the country’s high-quality growth will be established over the next three years.

To fulfill such targets, the ministry will optimize transport struct

ure, upgrade rail, road and waterway transport systems and expand the network of logistics hubs, Wu said.

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Considering that the two accidents took place after ne

 Boeing 737 MAX 8s were delivered, and went down just minutes after taking off, within five months of each other, they have some degre

e of similarity,” the administration said in its statement. The administration grounded all Chinese Boeing 737 MAX 8 jets on March 11.

“With China suspending the airworthiness certificate for the Boeing 737 MAX 8, domesti

c airlines are unable to purchase this model,” Li said, adding that it will undoubtedly cause great economic losses to Boeing.

As of the end of January, the Boeing 737 MAX family had 5,011 orders worldwide, of which 3

50 had been delivered. More than 420 orders came from China, with 96 already in commercial operation.

The future of the commercial aviation market in China is very exciting, Li said, and no othe

r country has more demand for aircraft. But safety questions are hindering Boeing, Li said.

A Southwest Airlines Boeing 737 MAX 8 heading to the California desert for parking during a global ban of the aircraft m

ade an emergency landing on Tuesday due to an engine-related problem shortly after takeoff, according to the carrier.

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Xie Zenggang, commander of the 83rd Group Army who t

 took the examination, was quoted by China National Radio as saying that it had broade

ned his horizons and enabled him to gain a higher strategic perspective that can be used in planning future operations.

“It also reminded me of the necessity that as a commander, I not only need to take into consideration joint o

perations by various services in the PLA but also to think about joint campaigns with foreign militaries,” he said.

In June, the Ground Force organized a test for commanders of its 13 group armies – its la

rgest combat units. Since the start of this year, the Ground Force has conducted a wide range of exam

inations for almost all of its members to verify their professional knowledge and skills.

Geely and Daimler plan a 50-50 joint venture in China, which will develop and produce electric Smart br

anded vehicles and sell them globally starting from 2022, according to a deal the two signed earlier this week.

Representatives of the two carmakers said the Fi

nancial Times’ report of Daimler selling a 50 percent stake of Smart to Geely was not true.

Daimler, also owner of Mercedes-Benz, is currently prod

ucing the Smart branded vehicles in a plant in Hambach, France, but the plant will produc

e electric Mercedes-Benz models instead when the Chinese plant is finished. The location of the plant has not yet been disclosed.

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More appetite among Chinese, Asian collectors for Western art

hinese and Asian art collectors have become more knowledgeable, sophisticated and are branching out for m

ore Western works, said Francis Belin, president of Christie’s Asia, who is excited about the trend.

“Chinese clients have evolved from being very dedicated to Chinese arts to gaining increasing interest

in other categories and expanding the spectrum of the type of objects that they wish to collect,” Belin told

Xinhua in an interview in New York City during Christie’s Asian Art Week held on March 19-26.

Diversity of collecting is one of three “fundamental trends” the auction house has obse

rved among the Chinese and Asian buyers, Belin said, noting the increased appetite to collect across categories.

About 10 or 20 years ago, Asian collectors focused primarily on the art that relates to their own c

ulture, he said, “we’ve seen this evolved in the past years to be much more holistic in the collecting of our Asian buyers.”

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Cities emerging into new post-Brexit financial centers

The United Kingdom’s decision to leave the European Union has led major

financial companies in London to move assets and staff to continental Europe, mea

ning the post-Brexit landscape is likely to be far more “polycentric” than it is today

and far less centered on one location.

According to a recent report by think tank The New Financial, more than 40 companies have shifted staff or oper

ations to more than one financial center within the EU, with 100 choosing the

Irish capital as a post-Brexit location, whi

ch was the most popular choice ahead of Luxembourg, with 60, Paris with 41, Frankfurt with 40, and Amsterdam with 32.

William Wright, principal author of the

New Financial Brexitometer report, said: “One of the most strikin

g findings of our analysis is the extent to which Europe will become a much more

‘multipolar’ world as a result of Brexit.”

Companies are migrating to, or expanding in, multiple financial centers, with man

y either establishing a dedicated division for EU business or spreading their staff

more evenly throughout the EU.

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Europe alone is not what makes London the number one cen

ter for foreign exchange, for example. We clear more dollars than New York, and are the largest center for RMB trading outside greate

r China. London is strong and international,” she said. “The long-term fundamentals of London and the UK still remain strong.”

Alex De Ruyter, director of the Centre for Brexit Studies at Birmingham City University, echoed the

view of McGuinness, saying: “Whilst I think Brexit has clearly had a significant impact, it must be remembered that Lon

don is a global financial center and the majority of assets held by the financial services sector are outside of th

e EU, with the US, China, and other emerging economies particularly important markets.

“The 800 billion pounds figure only comprises about 10 percent of the estim

ated total assets of the UK banking sector,” he said. “So, the total volume of business affected has been relatively small.”

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