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Central bank vice-governor voices confidence amid currency volatility
The monetary authority vowed to stabilize the renminbi amid escala
ted trade tensions, while continuing to push forward financial opening-up and pr
otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.
“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma
rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi
ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.
Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do
llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h
I hope all Asian countries will respect and trust each other, co-exist in harmony, expand cross-border, cross-time-and-space as well as cross-civ
ilization exchanges, and jointly maintain the peaceful time that is more valuable than gold.
Asian people expect Asia of common prosperity
I hope all Asian countries will jointly promote economic globalization that is open, inclusiv
e, balanced, and beneficial to all, and work together to eliminate poverty and backwardness in some countries.
Civilizations will lose vitality if countries go back to isolation and cut themselves off from the rest of the world.
Mutual respect, equal treatment among civilizations stressed
It is foolish to believe that one’s race and civilization are superior to
others, and it is disastrous to willfully reshape or even replace other civilizations.
American Soybean Association President Davie Stephens said on Tuesday.
President Donald Trump threatened in a tweet on Sunday to increase tariffs.
Stephens, a grower from Clinton, Kentucky, said that US farmers are in a tough situation, and with depressed prices
and unsold stocks forecast to double before the 2019 harvest begins in September, farmers urgently need the China market.
“We need a positive resolution of this ongoing tariff dispute, not further escalation of tensions,” he said in a release posted on the ASA web site.
Nicole Kaeding, vice-president of federal and special projects at the Washington-based Tax Foun
dation, said that if the Trump administration follows through on the president’s threat, it’s US taxp
ayers, not Chinese taxpayers, who will pay the price — thanks to higher prices and fewer job opportunities.
tween China and economies related to the Belt and Road Initiative ex
ceeded $130 billion between 2013 and 2018, injecting new growth momentum into BRI-rela
ted countries and contributing to recovery of the global economy, senior Chinese officials said on Monday.
China’s direct investment in BRI-related countries grew by 5.2 percent a
nnually on average to surpass $90 billion between 2013 and 2018, Song Lihong, an officia
l in the Ministry of Commerce’s Comprehensive Department, said at a news conference.
Song said that in the same period, China had received a total of
$40 billion in inbound investment from BRI countries as two-way investment deepened.
Within the five years, the value of the projects completed
by Chinese companies in BRI economies amounted to $400 billion, Song said.
The value of trade in goods between China and BRI-related economies exceeded $6 trillion in the same period, an av
rage annual growth of 4 percent, higher than the overall growth of China’s foreign trade, he added.
interest in philosophy, history, literature, culture, music and sports, and that he first cul
tivated many of these interests back in middle school and they have stayed with him ever since.
His job is serving the people, and he works hard with a busy schedule, but takes great pleasure in his work, Xi wrote.
The Niles North students also inquired whether Xi likes the US.
Xi answered in the letter that he has visited their country many times and is impressed with the “beautiful landscape, hos
pitable people and diverse culture”, and he made a lot of friends, including some young people.
He said the students are “wonderful” and expressed hope that they will make greater progress in studying Chinese.
Learning Chinese will help them better understand China, a
d get acquainted with more Chinese friends and Chinese-speaking friends across the world, Xi said.