Qingdao debuts high-speed maglev train prototype

hina rolled off the production line a prototype magnetic-levitation train with a designed maxim

um speed of 600 kilometers per hour in Qingdao on Thursday, filling the gap in travel speed bet

ween aviation and high-speed rail passenger transport in the country, according to its manufacturer.

Launched in July 2016, the train is designed and manufactured in CRRC Qingdao Sifan

g Co Ltd in the eastern coastal city of Qingdao, Shandong province. The company is a wholly owned su

bsidiary of Beijing-headquartered China Railway Rolling Stock Corp, the largest rolling stock manufacturer in the world.

The debut of the country’s first high-speed maglev train testing protot

ype marks a major breakthrough for the nation in the high-speed maglev transit system.

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Commenting on the suggestion of quickly shifting sou

rcing to countries other than China under the tariff specter, the FDRA said there had been com

panies moving away, but “footwear is a very capital-intensive industry, with years of planning required to m

ake sourcing decisions, and companies cannot simply move factories to adjust to these changes”.

Douglas H. Paal, vice-president of the Asia Program at the Carnegie Endowme

nt for International Peace, said the footwear industry’s complaints are justifiable, albeit a little late.

“Since their issues do not involve critical technologies, the

re might be room for the administration to offer a degree of relief,” Paal told China Daily.

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Footwear makers: cut and run from tariffsrtment at the

US sneaker giant Nike and fancy shoemaker Allen Edmonds have joined the chorus of busines

s groups calling for the White House to hit the brakes on its move to raise duties on Chinese shoes an

d other products, further challenging President Donald Trump’s claim that China is paying for the tariffs.

A week after Trump threatened to impose tariffs on the remaining $300 billion of goods imported from Chi

na, more than 100 American shoe and sneaker companies, brands and retailers signed an open letter to the president saying the p

olicy “would be catastrophic” for consumers, businesses and the US economy.

“Your proposal to add tariffs on all imports from China is ask

ing the American consumer to foot the bill,” said the letter, dated on Monday and signed by

the companies. It was posted on the website of the Footwear Distributors and Retailers of America (FDRA).

www.tsinghuagxbedu.cn

President Xi inspects high-tech companyL MAG Rare-Earth

President Xi Jinping inspected a company that manufactures high-tech magnetic m

aterials as he kicked off an inspection trip to East China’s Jiangxi province on Monday.

Xi learned about the business operations of the JL MAG Rare-Earth Co Ltd, based in Ganzhou, which speciali

zes in rare earth permanent magnetic materials, as well as the development of the rare earth sector in the city.

Ren Zhengfei, founder and CEO of Huawei, said on Tuesday that the US governm

ent’s 90-day extension “doesn’t mean much”, adding that the company was ready to deal with the ban.

Ren’s comments came after the US Commerce Department said on Monday that it gave Hu

awei a 90-day license to purchase US technologies to maintain existing networks and provide software upd

ates to existing Huawei handsets. That marks a delay of the ban on US technology exports to Huawei.

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ed it from repaying investors’ principal and interest. La

September, 53 people in the company were transferred for examination and prosecution.u’an, a county in

China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun

Emerging fields including online lending, investment, pension services, consumer reb

ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.

Since the collapse of P2P online lending platforms beginning last Jun

e, public security authorities have investigated and handled more than 400 illegal fun

draising platforms and arrested more than 60 fugitives from 16 countries and regions.

“To grab excessive profits, the criminals keep changing and upgrading their criminal

methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”

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nd information technology, had confirmed at the Boao Fo

oao Forum for Asia, that China will grant 5G licenses this year, but didn’t disclose a specific date.

“5G, industrial internet and the internet of vehicles are among the country’s top development priorities

in the telecommunications industry,” Zhang Feng, chief engineer of the Ministry of Industry and Information Technology, sa

id on Friday during the World Telecommunication and Information Society Day.

Zhang called for accelerated efforts to set standards in key areas, including 5G, to expedite the com

mercialization of this forefront technology and bolster the nation’s core competitiveness.

Major Chinese smartphone maker Huawei Technologies Co has already unveiled its first 5G chip and first 5G fold

able smartphone, the Mate X, which is expected to hit the market in June, despite challenges involving the United States.

www.shanghaidianbaobao.cn

information technology, had confirmed at the Boao Foru

um for Asia, that China will grant 5G licenses this year, but didn’t disclose a specific date.

“5G, industrial internet and the internet of vehicles are among the country’s top development priorities in the teleco

mmunications industry,” Zhang Feng, chief engineer of the Ministry of Industry and Information Technology, sa

id on Friday during the World Telecommunication and Information Society Day.

Zhang called for accelerated efforts to set standards in key areas, including 5G, to expedite th

e commercialization of this forefront technology and bolster the nation’s core competitiveness.

Major Chinese smartphone maker Huawei Technologies Co has already unveiled its first 5G chip and first 5G fol

dable smartphone, the Mate X, which is expected to hit the market in June, despite challenges involving the United States.

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Quotable quotes from business leaders at 3rd WIC

Praising Tianjin’s efforts and achievements in intelligent sc

ience and technology, Liu Chuanzhi, board chairman of Legend Holdings Co Ltd, pred

icted the city will make a qualitative leap in two to three years by combining intelligent technologies with manufacturing.

Liu, also founder of Chinese computer giant Lenovo, said his company, like Tianjin, considers intelligent technology a new imp

etus. Lenovo is working on many intelligent applications and has invested in many high-tech ma

nufacturing enterprises. It uses various artificial intelligence-driven algorithms and machine learning to ana

lyze the data of its supply chain system, using it to optimize Lenovo’s new intelligent spare parts supply chain.

Liu Qingfeng, chairman and CEO of iFlytek, said the company has developed a series o

f products driven by AI applications, based on small samples over the past year.

The company’s latest technological breakthrough is for the first tim

e its machine has surpassed humans in English reading comprehension, Liu said.

He said that he believes AI in 2019 has entered the year of large-scale application.

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China has to walk a fine balance between local govern

nment debt management and stable economic growth, especially at a time when trade te

nsions with the United States have imposed more downward pressure, said economists.

More financial resources and investors will be involved in the debt resolution process, said Qiao Baoyun, head of the Acad

emy of Public Finance and Public Policy at the Central University of Finance and Economics.

The last round of local government debt swaps started in 2015 and ended in August 2018, w

hich saw 14.34 trillion yuan ($2.08 trillion) of local government debt being swapped into bonds.

Local governments are set to face more debt burden in the next three ye

ars, as many of the previously issued bonds are set to expire, income from land sales has

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Under current party rules, she cannot be challenged again

n for a year, but some on Brady’s committee had pushed for those rules to be change

d in order to try to force her out earlier if she refused to set out a clear departure date.

Boris Johnson, the face of the campaign for Britain to leave the Europea

n Union, said he would stand as a candidate to replace May as Conservative leader.

May’s Brexit deal has been rejected three times by parliament, and weeks of talks with the opposition Labour Party, the idea

of which was deeply unpopular with many Conservatives, have failed to find a consensus on the way forward.

A BBC reporter said on Thursday those talks were due to be

called off soon after the ruling Conservatives gave up on any hope of a resolution.

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