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These high net worth individuals each possess inve

Meanwhile, 79 percent of the Chinese high net worth individuals polled said they are optimistic about their inves

tment returns for the next six months, while the average number was 62 percent in the North Asian markets.

Despite the fact that the benchmark Shanghai Composite Index sh

ed nearly 24 percent in 2018, 67 percent of Chinese participants said they will increase their inv

estments in the stock market in the next six months, much higher than the 51 percent registered in North Asia on average.

UBS found that cash still makes up about 30 percent of the investmen

t portfolios of Chinese high net worth individuals, which is the lowest among all surveyed Asi

a-Pacific markets, and even lower than the global average of 32 percent. Although China’s number is relatively lo

w, it is comparatively one of the most significant parts of the investment portfolios of high net worth individuals.

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letter receives high praise from primary school students in

Students from a Macao primary school hailed President Xi Jinping’s reply letter

delivered to them before International Chil

dren’s Day, and they pledged to live up to

Xi’s expectations by passing on the traditions of loving Macao and the country.

In the library of the Hou Kong Premier School Affiliated to Hou Kong Middle

School in Macao, students clapped after hearing Xi’s letter.

Hou Kong Middle School, established in

1932, was the first to raise a national flag in Macao on Oct 1, 1949.

“I am so excited to receive a reply,” said fifth-grader Dang Wingzi, one of the stude

nts who wrote the initial letter to Xi. “I will study hard to be able to better serve the country.”

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This topic has gone viral among Chinese netizens, an

d turned into a red-hot search item on Sina Weibo, China’s equivalent to Twitter.

The gross output value of the Chinese snack industry has reached 2.22 trill

ion yuan, according to a report released in December by the Circulation Industry Pro

motion Center, which is affiliated with the Ministry of Commerce.

Online e-commerce has accelerated the market penetration rate of snack food, cultivating and promoting purchasing habits of

customers, the report said, adding that snacks accounted for nearly 30 percent of the total online food sales.

A total of 15 tons of mahua (fried dough twists) and 10,769 pieces of subing (crispy cookies) sold out

in just four days. An 8-year-old snack company predicted its revenue would top 10 billion yuan this yea

r. All these have shown China’s snack industry is developing at an unprecedented speed.

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Share planning with Braziloffice office partnership

China would like to have a shared planning process with Brazil to achieve coordinated development, President Xi Jin

ping said on Friday during a meeting with Brazilian Vice-President Hamilton Mourao at the Great Hall of the People in Beijing.

Calling the two countries highly complementary, Xi said China welcomes Brazil’s participation in the building of the Belt and Road.

He said China supports the prosperity and development of B

razil and believes that China-Brazil cooperation will produce great outcomes.

Xi asked Mourao to extend his sincere greetings to Brazil’s P

resident Jair Bolsonaro, who took office in January. Ch

ina appreciates the efforts made by the new government to promote the comprehensive strategic partnership, he said.

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The US’ trade deficit stems from its extremely low natio

nal savings rate and has to be compensated by other countries’ national savings, which in tu

rn adds to the trade deficit. On the other hand, China’s efficiency in the manufacturing industry makes it a lar

ge exporter of manufactured goods to the US and helps it sustain its high savings rate.

A high growth rate means higher trade deficit for US

Given that the US economy is driven by domestic demand, consumpt

ion in particular, instead of exports, a high rate of ec

onomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a sit

uation, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.

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Reducing poverty must begin with reducing ignorance. Ther

refore, giving rural children a good education is an important task in poverty relief, and

also a crucial means to stop poverty from being passed on between generations,” he said.

“The poor regions are the bottleneck in building a moderately prosperous society by 2020,” Xi wrote.

While talking with students and teachers at a primary school in Zhongyi, a towns

hip in Chongqing’s Shizhu Tujia autonomous county, in April, Xi

said compulsory education is an important part of poverty eradication.

Children in impoverished mountainous regions must be guaranteed access to education, an

d they should have a happy childhood, Xi said during his visit to Chongqing. He encouraged teachers to sett

le down in such regions, dedicate themselves to education in rural areas and contribute to poverty reduction.

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Although some hospitals have established such comm

mittees, many of them are loosely organized and incapable of ethical inspection

s to ensure people’s lives and health in cases of highly risky clinical trials, he said.

Zhai of the Chinese Academy of MedicalUber Technologies Inc’s conservative initial public offerin

g could not keep its shares from sinking in their trading debut on Friday, fueling debate on Wall Street over whether the outcome of

the most anticipated listing since Facebook Inc would weigh on other Silicon Valley unicorns.

Uber considered going public for at least four years. Yet the

ride-hailing company picked a week for its IPO plagued by market turbulence fueled

Sciences said existing regulations for oversight of the life sciences co

me from various government departments and don’t sufficiently deter violations.

“Higher-level legislation is needed to establish law to hold violators criminally accountable and deter any similar behavior,” she said.

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hina deeply disappointed by US tariff planpointm

hina voiced deep disappointment late on Wednesday about Washington’s plan to raise tariffs on Chinese imports on Fr

iday, saying that it will take necessary counter-measures if the US tariffs increase takes effect.

The planned tariffs increase on $200 billion worth of Chinese

imports from 10 percent to 25 percent was filed by the Office of the US Trade Representative, and

the filing appeared on Wednesday in the Federal Register, the Associated Press reported.

In response, an unnamed spokesman for the Ministry of Commerce said in a statement on the ministry’s website that escal

ating trade friction does not serve the interests of people in the two countries and the world.

Major US trade bodies have urged the Trump administration to avoid further escalating tensions by suddenly incr

easing tariffs on Friday, while experts said it’s sensible for China to continue negotiations in a measured way.

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parking lots, they have to park their electric bicycles in corrido

ors that are often crowded with them as well as other items. Should a battery ignite, the fire will spread quickly.

Many owners like to place electric bicycles in the entrances, stair

wells, basements of the buildings they live in so they can charge the batteries overnight, but t

his practice blocks the escape routes, causing the tragic consequences of fires resulting in many deaths.

The results of professional fire tests show that in a relatively enclosed envir

onment, the battery of an electric bike can burn at 1,200 C within three minutes, and the toxi

c gas it produces can spread from the basement of a building to the sixth floor in 10 minutes.

There are regulations forbidding people to park or charge electric bikes in public areas such as sh

ared walkways, stairwells, and emergency exits, yet the ban is often ignored because the electric bik

e riders need the vehicles for transportation and they cannot find any other place to charge them.

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China’s determination to expand opening-up and the ong

going reform measures have made its financial market increasingly appealing to overse

as investors,” the administration said on Monday in a statement on its website.

“The administration will continue to support the opening-up of financ

ial markets, meet demand from overseas investors to expand investment in the ma

rkets and attract global long-term capital to enter China’s financial markets,” it said.

Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore

ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co

mpared with $3.099 trillion by March, according to data released by the administration on Tuesday.

China is willing to see the accelerated development of the onshore capital market, said analysts, allowing direct fi

nancing to play a more significant role in allocating savings and investment, and better serve the economy.

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