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ld shoulder the historical responsibility of leading the people in realizing national indep
endence, people’s liberation, national prosperity and happiness for the people, Xi said.
By doing so, it should be made clear why socialism has taken root and continues to improve and de
velop in China so as to guide people to draw lessons and wisdom from history, and foster stronger confi
dence in the path, theory, system and culture of socialism with Chinese characteristics, he added.
He called for in-depth studies of the great significance of patriotism, progress, democracy and science advocated in the movem
ent so that its spirit can motivate young people to make unremitting contributions to national rejuvenation.
Xi also underscored the importance of responding to why the theme of contemporary Ch
inese youth movements should be to strive to achieve the Chinese Dream of national rejuvenation, require all aspects of socie
ty to care for and serve the youth, and also create a sound environment for them to develop, innovate and undertake pioneering work.
China and the United States have made new progress in negotiating the text of an econom
ic and trade deal, but much work remains to be done, the Ministry of Commerce said on Thursday.
Negotiating teams from the two countries are hashing out the text of the deal, including
an enforcement mechanism, on the basis of mutual respect and benefit, said Gao Feng, ministry spokesman.
The remarks came as the world’s two biggest economies have been i
ntensifying their consultations and aiming to break the deadlock in a timely manner.
In the most recent round of trade consultations, the negotiators discussed technolo
gy transfers, protection of intellectual property rights, nontariff measures, the service sector, agriculture, tra
de imbalances and enforcement mechanisms, according to earlier reports.
The American Chamber of Commerce in China said in a recent white paper that the US business commu
nity in China, long an advocate of good bilateral relations, can no longer be relied on to be a positive anchor.
The ongoing China-led international collaboration project Tianq
in, a space-based gravitational wave detection syste
m scheduled to be completed by 2035, is expected to significantly improve unders
tanding of major cosmic phenomena, including black holes, scientists said.
Tianqin uses the Chinese words tian, meaning sk
y or heavens, and qin, meaning stringed musical instrument.
It will consist of three satellites forming an equilater
al triangle around Earth at an orbit of 100,000 kilometers.
Tianqin will work to detect gravitational waves, whic
h scientists theorize are ripples in the fabric of space-time caused by violen
t cosmic events, such as colliding black holes, supernovas and even the birth of the universe.
up a fifth of the total number in China. Up to 51 companies in the district realized annual revenue of more than 10 billion yuan. Baidu Inc, Cambricon Techno
logies Corp and Beijing Dream Ink Technologies Co have become global leaders in various cutting edge technologies.
“The fruitful results in Haidian’s scientific innovation sector are due to the increasing investment i
n research and development,” said Dai Binbin, head of the district. “In 2018, Haidian’s R&D intensit
y was 4.6 times the national level, and higher than levels in the Republic of Korea and Japan.”
Beijing’s Xicheng district, where many domestic and oversea
s financial companies and organizations are located, has carried out a series of policies to boost the
financial sector’s development, and is another example of the capital’s high-quality growth.
For instance, the district government provides subsidies of up to
50 million yuan to newly set up financial organizations. For financial companies that m
ove into the district, the government gives subsidies to help them offset rent and capital purchases.
For high-end talent, both local and foreign, the district offer
s better resources in medical care, education and living arrangements.
be a great literary device, but it makes little sense in a dynamic global economy. Since early research on the middle-income trap was published in 2012, the world economy
has grown by about 25 percent－presumably boosting the moving target of a middle-income threshold by a comparable magnitude over t
hat period. Largely for that reason, recent research has couched the trap not in terms of an absolute threshold, but as relative convergence to high-income cou
ntries. From this perspective, danger looms when developing economies’ per capita income approaches 20-30 percent of the level in high-income economies. Giv
en that China will hit about 30 percent of the United States’ per capita GDP (in PPP terms) in 2019, it must be time to worry!
Slowing growth not as alarming as feared
Third, not all growth slowdowns are alike. A country’s GDP is a broad aggregation of a multiplicity of activities across sectors, busin
esses and products. Structural shifts from one sector to another can give the appearance of a growth discontinuity that may be nothing mo
re than the outcome of a deliberate rebalancing strategy. This is very much the case with China today, given its shift from
higher-growth manufacturing and other “secondary” industries to slower-growing services, or “tertiary” industries. To the extent
that this shift is the intended result of China’s strategic rebalancing, a slowdown in growth is far less alarming.