ered a barometer of innovation and entrepreneurship.

The majority of China’s unicorns are based in Beijing, Shanghai, Hangzhou and Shenzhe

n, with a combined number of 156, 19 more than the previous year and accounting for 77.2 percent of the total.

Nanjing, Guangzhou, Wuhan and Qingdao are new gathering places for unicorns, the report said.

Driven by global capital, China’s unicorns have accelerated the pa

ce at which they go public, with unicorns now taking an average of 71 months to IPO.

From January 2017 to May 2019, 36 unicorns were listed on the global stock market, with eight in 2017 and 21 in 2018.

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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.

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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.

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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.

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 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.

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e before Britons would have to vote in a May 23-26 election to the European Parliament — a condit

ion for the country to remain a member of the bloc beyond June 1 under the EU’s accord.

Many leaders had wanted a much longer extension, to the end of the year or even next March, but French President Emma

nuel Macron mounted stiff resistance throughout the evening, eventually forcing the compromise.

Macron questioned May’s ability to persuade parliament to her treaty, EU officials sa

id, and said that a tighter deadline would focus British minds. Others argued that an even longer exten

sion could spook May’s pro-Brexit critics into backing her deal for fear Brexit might stall.

Leaving at midnight on Oct 31 — Halloween, as social media commentators wer

e quick to note — would correspond with the end of the mandate of the present EU executive Commission.

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Editor’s Note: The May Day holiday this year would be extended to four days. When Premier Li Keqiang was asked at a news con

ference during the recent second session of the 13th National People’s Congress whether China would res

ume the May Day golden week holiday, he said relevant departments were studying the issue and would serio

usly consider the public’s opinions before making a decision. What effects will a four-day holiday have on the people and

the economy? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts follow:

Holiday answers people‘s appeals

The four-day holiday will, to a large extent, meet Chinese people’s require

ments for a better life, including the growing desire to enjoy quality longer vacations both at home and abroad.

There have been calls for longer holidays ever since the May Day golden

week holiday was reduced to three days. And the extension of the May Day holiday to four

days this year suggests the government has been taking public opinions into serious consideration.

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and greatly improve our work efficiency”, according to a released statement at a news conference held by the administration on Tuesday.

In the past, the residents in Chinese mainland could only apply for permits in their house

hold registration places with relevant documents, including identification card, hukou and application form.

National Immigration Administration holds a press conference on March 26, 2019.

Under the new measure, the residents will provide the same documents to apply for th

e passports and travel permits in their nearby exit and entry management departments, it said.

With the rapid development of China’s economy and society, a growing

number of people have been living, stuadying and working away from their hometown, and th

ere has been a strong demand for them to apply for the passports or travel permits in different places.

Data provided by the National Immigration Administra

tion show, this year, an estimated 21 million people will apply for passports and travel permits in di

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  made a jarring comment that hinted at the possibility of political violence.

  ”I can tell you I have the support of the police, the support of the milita

ry, the support of the Bikers for Trump — I have the tough people, but they don’t play it to

ugh — until they go to a certain point, and then it would be very bad, very bad,” Trump told the conservative website.

  Trump’s incessant appeals for his base are undeniably effective.

  One Republican, Sen. Thom Tillis, of North Carolina, made an 11th hour switch of hi

s vote on the declaration of national emergency, falling into line behind the President.

  A top GOP official in North Carolina told CNN’s Jim Acosta that Tillis was under fierce pressure ahead of a potential primary challenge next year.

  The official said, Tillis is “getting hit hard in the state.”

boervon.cn

  resentment against a ruling civilian and military cabal, and an economy in crisis have sparked mass protests across Algeria in recent weeks.

  President Abdelaziz Bouteflika praised the peaceful nature of the ongoing demo

nstrations and “maturity of our citizens, notably youth” in a message to mark International Women’s Day on Friday.

  Bouteflika also warned Algerians over “possible infiltration of misleading partie

s” who may seek to “provoke chaos” in a statement published by the Algeria Press Service.

  Why is everyone sick of Bouteflika?

  Protesters have been hitting the streets in the capital, Algiers, and other cities across the

North African country for weeks, demanding Bouteflika withdraw from contending forthcoming elections. The

announcement on Sunday that the octogenarian will seek a fifth term in office has sparked fury among Algerians.

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