In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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RMB’s value determined by market forcesce forex rese

Beijing will not sacrifice forex reserves to defend its currency, analysts say

China would rather rely on market-oriented forces to determine the renminbi’s value than defend its currency by d

ipping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said.

The United States Treasury announced on Wednesday that it could not label China a

s a “currency manipulator” after Washington monitored the recent performance of the RMB.

No evidence was found to show Chinese monetary authority intervention in foreign exchange markets over the past sev

eral months, according to the US Treasury’s semiannual foreign-exchange report to Congress.

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The debate seems to be generating wide interest in Chi

 China, with related hashtags getting more than 150 million views on Weibo.

Eunice Yoon, Beijing bureau chief and Inside China host at CNBC Interna

tional, tweeted to Regan that 120 million people viewed a Chinese hashtag that she tran

slated to: “Fox News female anchor challenges debate after being accused by CCTV for being emotional”.

Yoon, incidentally, was a former classmate of Regan’s at Phillips Exeter Academy, a prep school in New Hampshire.

“Seeing the kind of reaction online, I want to say, it’s important for us to have a meaningfu

l discussion to try to understand each other better. I appreciate the opportunity,” Liu wrote on May 24.

Liu has been working at CCTV since 1997, after graduating from Nanjing University’s English studies program.

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Liu told Regan that China has made its position very cl

lear that if the US treats the Chinese negotiating team with respect and shows the willingness to talk wit

hout using outside pressure, there is a high possibility that there could be a productive trade deal.

“Otherwise, I think we might be facing a prolonged period of problems for both sides,” she said.

Regan, at the close of their 15-minute talk, said again, “No one wan

ts trade wars. But we have to think long hard about the right next steps.”

Liu, however, did counter an assertion by Regan that China’s government controls its entire economy.

“Everybody thinks that China’s economy is state-owned, state-controlled, every

thing is state, state, state. Let me tell you that is not the true picture,” Liu said. “We are a

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Local government authorities said the races may disturb g

 Chen Xiang, head of the sports bureau of Qiannan prefecture in Guizhou, t

old the thepaper.cn. It was agreed after meetings with education authorities and parents of stud

ents that the large crowd gathered during dragon boat races will create noise, Chen said.

Therefore, the dragon boat racing activities in the city, previ

ously scheduled on June 5-7, were postponed to June 9-11. Teams participating in the races were cont

acted and told the reason for the delay. They understood the reasons, Chen added.

An official at the sports bureau of Chizhou city, Anhui, said they have received letters and calls f

rom parents of examinees and people, expressing their concerns (that noise generated by dragon boa

t races may disturb students sitting the gaokao). So the bureau decided to postpone the races until June 9-10.

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No evidence was found to show Chinese monetary

 authority intervention in foreign exchange markets over the past se

veral months, according to the US Treasury’s semiannual foreign-exchange report to Congress.

The May report summarized that China’s growth appears to be stabilizing on the back of recently enhanced supportive measures.

The report expanded the number of countries it scrutinizes for curre

ncy manipulation to 21 from 12. Countries with a current account surplus with the US

equivalent to 2 percent of GDP were put on the watch list, compared with 3 percent of GDP before.

China didn’t meet the “currency manipulator” criteria listed by the US Treasury, but Washington will continue asse

ssing the RMB’s performance given China’s large trade surplus with the US, the report said.

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Xi calls for bolstering reform, developmentonomic gro

Xi Jinping, general secretary of the Communist Party of China Central Committee, called on Wednesday for further efforts to prevent and eliminate major

problems in the nation’s reform and development against the backdrop that uncertainties and instabilities are on the rise.

Xi, also Chinese president and chairman of the Central Military Commission, made the remarks whil

e presiding over a key meeting of the Central Committee for Deepening Overall Reform. He is the director of the committee.

Saying China is facing profound changes in its reform and development against the backdro

p of increasing external uncertain and unstable factors, Xi said the country must maintain a strategic focus.

Substantial and resolute efforts must be made to prevent major contra

dictions and outstanding problems through coordinated planning and targeted mea

sures to make reform better serve the country’s economic and social development, Xi said.

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Issoufou congratulated Xi on the 70th anniversary of the f

 founding of the People’s Republic of China and the great achievements that Chinese people have made under

the leadership of the Communist Party of China. Noting that China’s development has made important contributions to m

ankind, Issoufou said that China’s inclusive economic growth has lifted a huge number of people out of poverty.

Niger supports the goal of building a community with a shared future for mankind, and the BR

I put forward by Xi will bring benefits for the whole world, he said, adding that Niger would like to pro

actively participate in the Belt and Road. While meeting with Issoufou on Tuesday, Premier Li Keqiang said that Chi

na would like to offer a hand to Niger for the country’s economic development and the improvement of people’s lives.

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Foreign investors’ access to onshore stock index futures

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures mark

et to foreign investors, as they have large exposure in t

he A-share market and are therefore in need of this risk management tool.

Foreign investors’ access to onshore stock index futures is an “infrastructure” for fin

ancial market opening-up, without which foreign investors’ passion for Chinese shares may be dampened, said Wa

ng Maobin, investment department chair at the University of International Business and Economics in Beijing.

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The Sino-US trade tensions have had a limited impact

mpact on China’s financial markets and the effects will be “even smaller” in the future, Guo said.

Yi Huiman, chairman of the CSRC, also pledged earlier in May to continuously enhance the quality of listed firms as part of s

upply-side reforms in the financial sector to promote the high-quality development of the real economy.

The National Development and Reform Commission, China’s top economic planner, said on

Tuesday that the country is willing to continue supplying rare-earth metals to world markets but is oppo

sed to those who use products made with such rare earths to “suppress and dampen China’s development”.

It also said that the industries of China and the United States are highly compleme

ntary. Cooperation will benefit both countries while confrontation will only undermine their interests, it said.

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