That is something we need in the moment of the 21st century,”

Solana hailed the development of relations between China and the Europea

n Union, saying they could work together to uphold the existing international system.

“I think cooperation between China and the European Union is very impor

tant. And fortunately, that relationship now is in a good direction,” said Solana, who se

rved as the EU’s high representative for common foreign and security policy between 1999 and 2009.

He expected China to play a bigger role in the upcoming Group of 20 summit in Osa

ka, Japan, saying that leaders of major powers should sit down and have productive talks.

He hailed the Belt and Road Initiative, and said it is a good platform for international cooperation.

www.renrencanzheng.org

the WTO is for the benefit of the public, not a tool for par

embers. If its members cannot reform the architecture and resolve the key issues, they may all end up in various regional groups.

“Many bilateral tensions or challenges countries are facing today requir

e a multilateral response, and WTO reform is definitely needed, especially in the area

s of trade and investment,” said Xue Rongjiu, deputy director of the Beijing-based China Society for WTO Studies.

Chen Fengying, a senior economics researcher at the China Institutes of Contemporary Internationa

l Relations, said the US government seems to have made driving WTO reform its priority so that the country can claim the high gr

ound in global trade and lead the process for making new rules and establishing a new global trading system.

This move poses a challenge to the WTO and its basic principles including that of most favored nation status and national treatment, she said.

www.youhuileyuan.cn

Uber was the biggest of a group of Silicon Valley startu

ups that have spent years raising money in private rounds at record prices. Many of these com

panies are now looking to follow with their own IPO. Some, like Uber and Lyft, are unprofitable.

Workplace messaging company Slack Technologies Inc plans to hold an investor presentation on Monday in adv

ance of its direct listing next month. Grocery and food delivery platform Postmates, WeWork owner The We Co

mpany and online mattress retailer Casper Sleep are among startups seeking to launch IPOs this year.

“If a venture capital investor wants to burn cash they can do that as long as they want, bu

t once you get to the public markets you have to show profitability or a path to it,” said Jordan Stuart, a po

rtfolio manager at Federated Kaufmann who often purchases companies’ shares during an IPO.

wrplg.cn

True, the first quarter of 2019 yielded better-than-expe

ted results. But the higher rate of FAI growth was to a large extent driven by a strong increase in investment in real estate, which is l

ikely to weaken sooner or later owing to the government’s commitment to cooling China’s “real-esta

te fever”. And, given the trade frictions with the US, China’s export performance for the rest of 2019 is highly uncertain.

To compensate for declining investment in real estate and weakening exports, China must maintain reasonable growth in inf

rastructure investment. To that end, the government should pursue higher spending (taking advantage of a strong fis

cal position), supported by accommodative monetary policy (amid very low inflation).

Fiscal and monetary expansion may be out of fashion among China’s mainstream economists, who insist that struct

ural adjustment must be the priority. But it could go a long way toward bolstering China’s economic per

formance in 2019, without impeding structural reform. The challenge is to strike the right balance.

weishow.com.cn

No quick fix for decades-old Israeli-Palestinian enmity

Concern over the recent escalation of tensions between Palestinians and Israelis have been temporarily relieved after Palestin

ian leaders in Gaza agreed a cease-fire with Israel early on Monday. Right now, nothing is more important than u

pholding the cease-fire as the atmosphere between the two rivals has not been so combustible since 2014.

Since Friday, militant groups in Gaza have fired more than 600 rockets a

nd other projectiles at southern Israeli cities and villages, killing four Israeli civilians, wit

h Israel retaliating with air and artillery strikes, killing 27 people, including 14 civilians, in Gaza.

The latest border clashes, the most deadly since 2014, have occurred against the backdrop of the changing Middle East po

licy of the United States, which has seen the US drop any pretense of impartiality and make clear its support of Israel.

cdyyfq.cn

In 2018, Huawei spent $15.3 billion on technology R&D

ranking in fourth place following Samsung, Google’s parent Alphabet and Amazon. Data als

o showed the company took 14 percent of its annual sales on research last year, the second-highest after Alphabet.

Huawei’s R&D spending totaled 480 billion yuan ($71.3 billion) over the past 10 years, ac

cording to its annual report. Besides, the tech behemoth achieved 721.2 billion yuan in global sales in 2018, a 19.5

percent increase year-on-year, and net profit reached 59.3 billion yuan, up 25.1 percent compared with a year earlier.

Smartphone sales from the company gained 348.9 billion yuan las

t year, a 45.1 percent rise year-on-year accounting for 48.4 percent of total revenue.

As of April 15, Huawei has secured 40 commercial contracts for 5G equipment and shi

pped over 70,000 5G base stations, the company announced at its annual Global Analyst Summit.

www.weilutu.cn

China does not own the Belt and Road Initiative. Nor doe

 it want to. From the start, Beijing has been accentuating the desirabi

lity of voluntary participation, consultations on equal footings, a joint construction proces

s and fair sharing of subsequent dividends.VLADIVOSTOK, Russia – Top leader of the Democratic People’s Rep

ublic of Korea (DPRK) Kim Jong-un arrived in Russia’s Far Eastern city of Vladiv

ostok in his train on Wednesday for the first meeting with Russian President Vladimir Putin on Thursday.

Kim’s armored train stopped at the Khasan railway station

of the territory at 10:30 am local time (0030 GMT) and he was rec

eived by the territory’s governor Oleg Kozhemyako, Russian Minister for the

Development of the Far East and the Arctic Alexander Kozlov, Russian Deputy For

eign Minister Igor Morgulov, and Russian Ambassador to the DPRK Alexander Matsegora.

“I am glad to be on Russian soil,” said Kim, according to the pr

ess release. Kim said that this will not be his last trip to Russia.

www.shlfat.com

China will improve the market environment for c

 car sales and expand the supply of automobiles as part of its latest efforts to boost auto consum

ption, Gao Feng, the spokesperson for the Ministry of Commerce, said at a press conference early this month.

By the end of 2018, China’s six cities namely Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou and Tianijin carried

out the purchase restriction of fuel-powered passenger cars, said Shao Jiang, an analyst at Everbright Securities. “If thes

e cities double their rising number of new cars, it could bring a 2.8 percent year-on-year growth for the wh

ole passenger car market.”Editor’s Note: The eight explosions in Sri Lanka on Easter Sunday have claimed more tha

n 300 lives and left over 500 people injured. A ninth explosion was reported on Monday near a church in Colombo, but n

one was reported killed or injured. The Islamic State reportedly claimed responsibility for the bombings on Tue

sday. Two experts share their views on the attacks with China Daily’s Liu Jianna. Excerpts follow

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Specifically, the draft likely will and should feature key

 reforms to foster an investor-friendly legal system, represented by strengthened information disclosure, prot

ection of investors’ rights and interests, and crackdown on legal breaches, Liu said.

China must promote the healthy development of the capital m

arket through key institutional innovations, the Political Bureau of the Communist Part

y of China Central Committee, the Party’s core leadership, said a statement released after a meeting on Friday.

Dong said the revised law is likely to be adopted by the end of the first half of the ye

ar, adding it is imperative and possible to expedite rolling out the revised version.

“Previously, controversies over the registration-based IPO system reform ha

ve prolonged the revision process, but now this factor has been largely lifted,” he said.

“As foreign investors are set to play a bigger role in China’s capital

market development, the revised law should also consider clarifying the rights and oblig

ations of overseas investors, to help them form a stable policy expectation,” said Xue Yi, an associate p

jsLongsun.com

The eastern area and central China region are accele

rating the push for economic upgrading, which offers strong impetus for the growth. Despite the pressure, we still can see gr

owth momentum,” Zhang said during a macroeconomic seminar earlier this month in Beijing.

“Recently, the government has introduced a series of su

pportive policies which will gradually help grow the real economy,” Zhang added.

NDRC said a further 3.24 million new urban jobs were added in t

he first quarter, with surveyed unemployment ra

te remaining at a comparatively low level of 5.2 percent in March. And consu

mer prices registered a moderate rise of 1.8 percent in the first three months of this year.

A basic equilibrium in the balance of payments was maintai

ned, and China’s foreign exchange reserves exceeded $3 trillion, Yuan added.

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