Huawei earlier said it had been preparing a contingency

ncy plan for such a block to Android by developing its own technology, of

which some is already being used in products sold in China, said the Reuters report.

The impact is limited in the Chinese market, as most of Go

ogle’s services have alternatives offered by domestic competitors like Tencent and Baidu.

However, Huawei’s European market could be affected as Huawei licenses these serv

ices from Google in Europe.A radio telescope in Shanghai that has made significant contributions to ast

ronomy for nearly a decade and participated in long-term observations used to confirm data in the first image of a b

ack hole in deep space, won the top prize on Wednesday at the 2018 Shanghai Science and Technology Awards.

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hipmakers including Intel, Qualcomm, Xilinx and Broad

roadcom will not supply Huawei until further notice, the report said.

However, blocking components to Huawei could also disrupt the businesses of American ch

ip heavyweights like Micron Technology and slow down the rollout of 5G wireless networks, Blo

omberg said, which in turn could hurt US companies that rely on the Chinese market.

In a Reuters report on Sunday, it said that Google has also suspended business with Huawei requiring the transfer of hard

ware, software and technical services, except those with open-source licenses publicly available.

Google China replied via email that the company is “complying with the order and reviewing the implications”, The Beijing News said.

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The China-US trade disputes have significantly influe

enced the renminbi’s performance, said Wang Shengzu, co-head of Investment Strategy Group Asia Goldman Sachs.

But the currency is unlikely to slip out of a reasonable range, assuming there is no big shock from the trade talks, Wang said.

As a sound base for a stable renminbi, “the Chinese economy has shown sig

ns of bouncing up, shown by the faster-than-expected growth of industrial output, ret

ail sales, and credit in the first quarter, and this means that economic activity is improving with supportive pol

icies”, said Wang.Liu Shiyu, China’s former top securities regulator, was under investigation for alleged violations of

the law, according to a statement Sunday from the Central Commission for Discipline Inspection.

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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 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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attracting talents and capital. This in turn prompts the autho

rities to introduce more favorable policies and regulations for the enterprises bas

ed in the US, which is essentially a combination of representative democracy and market econ

omy. Under such circumstances, how can the US promote sustainable reindustrialization?

Besides, reindustrialization is not possible without rebuilding or strengthen

ing infrastructure facilities. And although the US leader has been claiming to implement a trillion-dollar infrastructure

plan-and even made it one of the pillars of his “Make America Great Again” campaign-not much has come of it.

Another major problem is that the return on equity in the infrastructure sector is a mere 3 percent w

hile that in the US capital market is about 12 percent. So how can the US attract more private cap

ital to the infrastructure sector without guaranteeing a return on equity equal to that in the capital market?

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The US’ monetary hegemony is itself a big impedim

ment to the reindustrialization process, which could be viewed as a sort of financial Dutch disease-the apparent causal relationsh

ip between the increase in the economic development of a specific sector and a decline in other sectors. The more

heated the US stock market gets, the more serious the Dutch disease will become. And, ironically, the US leader is k

een on strengthening the stock market to showcase his political and economic track record.

Besides, the US administration cannot launch large-scale infrastructure construction projects, significantly red

uce the trade deficit with China and deny Chinese investors access to its market all at the same time.

The US’ trade deficit stems from its extremely low national saving

s rate and has to be compensated by other countries’ national savings, which in turn

adds to the trade deficit. On the other hand, China’s efficiency in the manufacturing industry mak

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Luckin, a Starbucks rival in China, rises in US stock debut

Shares of Luckin Coffee, a fast-growing rival to Starbucks in China, rose 20 percent in their US stock market debut Friday.

The Chinese company, which opened its first store in Beijing less than two years ago, has 2,370

locations and plans to surpass the 3,700 stores Starbucks has in China by the end of the year.

But unlike Starbucks, Luckin is losing money.

It brought in $125 million in revenue last year, but spent much more than

that on coffee beans, store rent and other costs. Last year, it lost $475 million.

Most of Luckin’s stores are small, have few seats and are used mainly as a place to pick up mobile orders.

It also offers delivery in 30 minutes and promises a refund for delays or spilled drinks.

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one right now. It’s the source of a lot of discussion in

Museums are not only there for enjoyment; they are education, and as such should be free.

While I can appreciate the enormous costs involved in maintainin

g and obtaining collections, let the wealthiest 1 percent of the country pay for it.

The Met in NYC is technically free; they ask you to give what you can afford. But the ide

a of a person or child interested in art not being able to view it because of cost is morally wrong.

Free entrance does not attract people, nor does it encourage them to appreciate it.

Sure, there are exceptions to this, but by and large human beings tend to look up to things that are difficult or costly to access.

A better option is to charge fees for regular visitors but provide free ti

ckets as prizes for high-achieving students and others who are likely to appreciate the reward.

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International Museum Day celebrated at Palace M

Wang Xudong, director of the Palace Museum, says it’s a duty for museums to provide a platfo

rm for scholars to exchange their academic findings, for artists from different cultural back

grounds to show their work and boost mutual respect, and for children to pass traditions into the future.

The latest figures from the National Cultural Heritage Administration show China had 5,354 mu

seums by the end of 2018, and museums across the country held some 26,000 exhibitions in 2018 and

received 1.126 billion people, an increase of 30 percent and 16 percent, respectively.

The International Council of Museums organized the annual Inte

rnational Museum Day in 1977 to address the changing roles of museums.

Museums across the world are reinventing their roles to become more interact

ive, audience focused and active in delivering creativity and knowledge to their communities.

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