Through its app, customers can watch their coffee being

Luckin raised $561 million in its initial public offering Friday by selling 33 million American depositary shares at $17 apiece.

The ADS, which are trading on Nasdaq under the symbol “LK,” closed at $20.38 after rising as high as

$25.96 earlier in the day.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 maintai

ning 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 idea

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

www.cn-yongan.com

Bernard Dewit, chairman of the Belgian-Chinese Cham

ber of Commerce, said that industrial and trade relations between the EU and China will i

ncrease following the meeting, and that China has made great efforts to open its market to European companies.

“China’s new Foreign Investment Law, which has just been (approved), will greatly reassure European investors of the com

mitment of the Chinese government to further protect foreign investments in China,” he said.

Wang Yiwei, a professor of international relations at Renmin University of China, said in an article

published in the People’s Daily Overseas Edition on Wednesday that the Chinese and EU lead

ers’ strategic communication on important issues will help foster new areas for bilateral cooperation.

The concerted efforts made by the two sides to cope with the common challenges

and develop win-win cooperation will add stability to an increasingly uncertain world, he added.

Hu Yongqi contributed to this story.

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But the underlying trend for the past five years is enc

ncouraging: annual TFP growth of about 3 percent, with especially strong growth in the tertiar

y sector. So, notwithstanding the recent slowdown in aggregate GDP growth, services-led Chi

nese rebalancing is imparting meaningful productivity leverage to the economy as a whole.

The question now is: Can China sustain its recent TFP trajectorya dist

inct possibility in light of an increasingly powerful shift to indigenous innovation and

the sustained services-led productivity of a growing cohort of well-educated knowledge workers-as well as rea

p the benefits of continued upgrading of its capital stock? If it can, the new Chinese study concludes that China’s potential GDP growth rate could hold aro

nd 6 percent over the next five years. Such an outcome would conform quite closely with China’s longer-term ambitions.

So, despite the days of 10 percent Chinese growth being over, which w

as inevitable, there is good reason to believe that the real story is China’s shift from qua

ntitative to qualitative growth. Which suggests China will defy yet again widespread fears of a looming middle-income trap.

www.ypwhl.cn

Ardern met with Premier Li Keqiang on Monday morn

ing, and the two witnessed the signing of four cooperative documents to pr

omote cooperation in tax issues, agriculture, finance and science at a signing cer

emony. A joint declaration on climate change was also released after their meeting.

Zhao Jianglin, a researcher of Asia-Pacific economic studies at the Chinese Academy of Social Sciences, said the visit by Ardern

will provide a timely boost to China-New Zealand relations after the dispute over the use of Chinese telecom equipment.

China has been a key trade partner with New Zealand, which could also provide important s

upport to the Belt and Road Initiative and China’s relations with countries in the South Pacific, she said.

A price cut swept China’s many sectors on Monday, as value-added tax rate reduction officially kicked in.

This year’s Government Work Report, which was released las

t month, said the rate bracket of 16 percent in manufacturing and other industries will

www.hmijw.cn

India’s richest man put his brother out of business. Now he’s

  India’s richest man just helped his cash-strapped younger brother avoid months in prison by paying off debts worth tens of millions of dollars.

  The gesture by Mukesh Ambani to bail out his brother, Anil, is the latest twist in a sibling saga that has gripped India’s t

elecommunications industry. A price war started by Mukesh in 2016 nearly put Anil out of business a year later.

  Last month, India’s top court ordered Anil Ambani and his company, Reliance Communications, to pay a 5.5 billion rupe

es ($80 million) debt to Swedish mobile firm Ericsson (ERIC) by Wednesday or face three months in jail.

  READ MORE ON INDIA

  Spotify just added a million new users in India

  WhatsApp is getting ready for the world’s biggest election

  This Indian hotel startup plans to be bigger than Marriott

  The future of the internet is Indian

  By Monday, the deadline was looming and the debt remained unpaid. Then Mukesh Ambani, who’s estimated to be worth more than $50 billion, stepped in.

  Reliance Communications said in a statement late Monday that it had made the paym

ent to Ericsson in full, with Anil Ambani thanking his brother and sister-in-law for their help.

chinaherb.cc

Facebook to target vaccine misinformation with focus on

  Facebook, the world’s largest social media site, will soon take aim against anti-vaxe

rs. The company will start by lowering the ranking of groups and pages that spread misinformation about vacc

inations in its News Feed and Search options, a representative said Wednesday.

  ”These Groups and Pages will not be included in recommendations or in predictions when you type into Search,” Monika Bickert, Facebook’s vice pres

ident of global policy management, said in a statement. She added that when ads that include misinformation about va

ccinations are found, “we will reject them.” Ad accounts that continue to violate company policies may even be disabled.

  Facebook won’t be disabling personal accounts that post misinformation about vaccines, a spokeswoman told CNN on backgrou

nd. General misinformation doesn’t violate the company’s community standards. If something blatantly violates th

e standards, it will be removed, but that will not happen to individual posts containing misinformation.

  Bickert said the company is also “exploring ways to share educational informa

tion about vaccines,” possibly by adding educational information to inaccurate posts.

riuy8.cn

Foldable smartphones might not be the future: experts

On Sunday, China’s tech giant Huawei officially unveiled Huawei Mate X, its first foldable smar

tphone. That came just five days after Galaxy Fold, the first foldable smartphone of Samsung. But fol

dables might not be the future of smartphones, comment two experts with China Daily’s Zhang Zhouxiang:

Yuan Xuanhua, a renowned industrial designer with 20 years’ experience in smartphone engineering

Some media outlets have described foldable smartphones with so many sweet w

ords as if they were a technological breakthrough. Unfortunately, they are not. The te

chnology of foldable displays were invented as early as 20 years ago in a quite easy way — By replacing the glass th

at supports the display with foldable organic materials. Such displays can not only fold, but also curve.

Concerning the foldable screens of Huawei and Samsung, they have better displays with higher density rate and cl

earer, more stable display performance, but in essence they are still using the same technology. Therefore, f

oldable smartphones are more like a consumption-led innovation rather than a technology

www.chitudoudemao.cn

Amid the easing ties between North and South Korea, as

as well as between Pyongyang and other stakeholders on the Korean Peninsula, if Japan maintains

its conservative strategy for North Korea, its overall Northeast Asia diplomacy will be affected.

Japanese Prime Minister Shinzo Abe would find it hard to shore up d

omestic support through vibrant diplomacy. Tokyo can take advantage of the positive si

gnals the next Trump-Kim summit generates to win the opportunity to boost its ties with North Korea.

If Washington-Pyongyang ties are significantly enhanced, it will send a conciliatory messag

e to Tokyo. Under the US-Japan-South Korea alliance and under the framework of US-Japan m

ilitary cooperation, if North Korea is still hostile toward Japan, it may find it hard to get a multilateral diplomatic fo

othold in East Asia. In fact, Pyongyang hopes to talk to Tokyo. North Korea’s geopolitics depends on support from tra

ditionally friendly states such as China and Russia. Meanwhile, it also desires to enhance relations with South Korea and Ja

pan, so as to gain maximum advantage in multilateral geopolitics and security in East Asian and Asia-Pacific regions.

sh419as.com

echnology revolution and urbanization still carricenter added.

Meanwhile, a slump in population increases and growing aging populations will become a ke

y factor dragging down economic growth in developed countries and some developing countries.

The global population is predicted to rise from 7.35 billion in 2015 to 8.89 billion in 2035 and 9.77 billion in 2050. The pr

oportion of the aging population is expected to rise from 8.3 percent in 2015 to 13 percent in 2035 and 15.8 percent in 2050.

Over the next 15 years, global economy is expected to trend more toward multipolarity. By 2035, developing co

untries’ GDP will surpass developed economies’, contributing nearly 60 percent in global economy and investment.

The focus of global economic growth will shift from Europe and the United States to

Asia and extend to other developing countries and regions, the center added.

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China to remain NYSE’s major contributor of int’l IPOs i

China has been a major market for the New York Stock Exchange (NYSE) when it comes to international initial public offerings

(IPOs) over the past few years, and the trend will continue in 2019, according to the exchange.

The wholly-owned subsidiary of Intercontine

ntal Exchange finished 2018 with 125 billion U.S. dollars in proceeds raised from 356 transactions. In a year mark

d by elevated volatility in U.S. equity markets, NYSE issuers raised 30 billion dollars in proceeds from 73 IPOs, statistics showed.

A total of 25 international IPOs were executed during the year, raising 10 bi

llion dollars in proceeds, including Tencent Music Entertainment Group from C

hina, PagSeguro Digital Ltd. from Brazil, and Hudson Ltd. and Farfetch Ltd. from Britain.

A total of 18 Chinese companies raised more than 4 billion dollars in proceeds las

t year, the exchange said in its response to Xinhua’s inquiry. The compa

nies are from a variety of industries, including education, hospitality, technology, and automotive.

Alex Ibrahim, head of international capital markets at NYSE, told Xinhua that it was a “huge highlight” to have compan

ies like Tencent Music Entertainment listing on the exchange and raising over 1 billion dollars.

The IPO of Nio, a leading Chinese electric vehicle maker, also raised more than 1 b

illion dollars and was a very successful transaction, he noted. “It was super exciti

ng to see those cars in front of the exchange and in Times Square,” Ibrahim said in an exclusive interview with Xinhua.

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