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Recent monetary and fiscal stimulus measures are expe

cted to bolster domestic demand, partially offsetting the adverse impact of trade tariffs on overall growth,” the report said.

The US recently signaled its intention to impose additional tariffs on the European Union, primarily targeted at the

aircraft and food industries. It is in addition to the imposition of steel and aluminum tariffs that are already in place.

Amid unresolved trade disputes and higher tariffs, the projected growth of world tra

de has been revised downwards to 2.7 percent in 2019, slowing markedly from 3.4 percent in 2018.

The report warns that “the impact of a spiral of additional tariffs and retalia

tions would not only dampen growth of these large economies, but also have severe spi

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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.

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Conflict also disrupts growth. Although many conflic

icts appear to have a religious or ethnic basis, some scholars believe their root cause may be economic, with ethnic divisio

s serving as a way to exclude other groups from access to scarce resources and opportunities. Whatever its so

urce, inequality of opportunity has a highly disruptive effect on governance and hence growth.

But these obstacles are not insurmountable. For one th

ing, developing countries now have huge potential export markets in middle-inc

ome countries, and no longer depend entirely on advanced economies for access to global markets.

Belt and Road can play vital development role

There is also a renewed awareness of the importance of infrastructure in e

nabling growth. In addition to roads, railways and ports, electricity and digital conn

ectivity are crucial. In this regard, the rapid expansion of cellular wireless technology, combined with the install

ation of high-capacity undersea broadband pipes around Africa, represents major prog

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This issue is similar to the environment. External critics

ent. External critics of China don’t appreciate that Chinese themselves realize there

are issues to be addressed. They are doing so. These developments should be encouraged.”

President Xi Jinping, who spoke at the Second Belt and Road Foru

m for International Cooperation in Beijing recen

tly, listed areas in which China will improve the environment for foreign investment.

The president said the nation will work hard to create a business environ

ment that respects the value of intellectual prop

erty, will improve the legal system for IPR protection at all levels, will strengthen law enforcement and pr

otection for the legitimate rights and interests of foreign IP owners and will bar the

forced transfer of technology, improve protection of trade secrets and crack down on infringement.

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Before the drug was available on the Chinese mai

nland, there was little effective therapy for the disease, and patients depended mainly on treat

ment such as respiratory and nutrition supports, said Xiong Hui, Beijing Medical Association rare disease c

ommittee member and Peking University First Hospital deputy director of pediatrics.

Spinraza debuted on the Chinese mainland having been fast-tracked through the marke

t approval process for rare disease drugs, which, available overseas since July, are urgently needed in China.

The drug began the approval process in September and was issued a license in February.

Premier Li Keqiang said in February that the government will step up efforts to gua

rantee more than 20 million rare disease patients have access to required medication.

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Chinese Navy to send huge fleet to take part in sea parade

Chinese Navy will send 32 warships and 39 aircraft to take part in a joint sea parade in waters near Qingdao.

Nearly 20 ships from about 10 countries will participate in the sea parade on Tuesday, deputy commander of the PLA Navy Qiu Yanpeng said.

A Singapore Navy frigate arrived on Friday in Qingdao, Shandong province, becoming the first for

eign warship to arrive ahead of a grand event to honor the 70th birthday of the People’s Liberation Army Navy.

The PLA Navy will hold multinational naval activities in Qingdao and nearby waters from Mo

nday to Thursday to celebrate its founding anniversary. They will include a joint sea parade, high-level sy

mposiums, public tours of ships, military music performances and other cultural exchanges.

A press center opened on Wednesday in Qingdao for the upcoming multi

national naval activity.eputy commander of the PLA Navy, attends a press conference for the u

pcoming multinational naval activity to mark the 70th anniversary of the People’s Liberation Army Navy at t

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Apple, in rare reversal, pulls plug on wireless charging mat

Apple Inc on Friday said it is canceling the AirPower wireless charging mat that

the company announced in 2017 on t

he same day as its iPhone X, a rare public retreat for the gadget maker known for splashy product launches.

The mat was intended to wirelessly charge up to three Apple products at

once, such as an iPhone, Apple Watch and AirPods wireless headphones.

While wireless charging has spread through the gadget industry, chargi

ng three devices at once with higher wattage “fast charging” has proved challengi

ng. Furniture seller Ikea, for example, sells a $60 matt that can handle three

phones but it only features slower 5-watt charging.

In a statement, Apple said that it had concluded that its AirPower mat “will

not achieve our high standards.”

“We apologize to those customers who were looking forward to this launch,”

Dan Riccio, Apple’s senior vice president of Hardware Engin

eering, said in the statement. “We continue to believe that the future is

wireless and are committed to push the wireless experience forward.”

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In a spectacular display of indecision, the House of Comm

ons has voted against remaining in the EU and every version of leaving the EU,” tweeted James Cleverly, the Conservative Party’s deputy chairman.

Nevertheless, some proposals fared better than May’s deal had done two weeks ago, and parlia

ment was due to hold more indicative votes on Monday after refining the options most likely to secure a majority.

Many Conservative eurosceptics had made clear they would only c

onsider supporting May’s deal if she gave a firm commitment to resign, hoping a new leader

would be more sympathetic to their views when negotiating the terms of Britain’s future relationship with the EU.

“I have heard very clearly the mood of the parliamentary party,” May told a meeting of Conservative lawmakers (MPs).

“I know there is a desire for a new approach – and new lead

ership – in the second phase of the Brexit negotiations – and I won’t stand in the way of that.”

But within hours of May’s offer, the Democratic Unionist Party, which props up her minority gov

ernment, said it would vote against the deal if May brought it back a third time.

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The Italian Senate warmly welcomes Xi for his visit, Casell

llati said, noting that the Italian and Chinese peoples have always trusted each other and

maintained profound friendship, with close ties in such fields as economy and trade, and culture.

The Senate speaker said she agrees with Xi on his remarks about the traditional friendly exchanges between the two cou

ntries dating back over 2,000 years, published in leading Italian newspaper Corriere della Sera ahead of his visit.

China and Italy are major countries that boast a rich culture, she said, adding that Italy is willing to boost communication and c

ooperation with the Chinese side in such fields as culture, art, language, heritage protection, tourism, science and tec

hnology, and innovation, and encourage their youths to increase exchanges and mutual understanding.

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Tax cuts on the way as steps taken at meetingplement a g

China will implement a group of measures to cut value-added ta

x rates, ensuring that the tax burden on all industries will only go down, according to a

decision made by the State Council’s executive meeting presided over by Premier Li Keqiang on Wednesday.

The Government Work Report this year set out a plan for l

arger tax cuts, including lowering the VAT rate in manufacturing and other industries from 16 t

o 13 percent and the VAT rate in transportation, construction and other industries from 10 to 9 percent.

A number of concrete measures were decided upon at the

Wednesday meeting to achieve the targets, which will be enacted on April 1.

Input VAT eligible for deduction will be expanded and will cove

r passenger transportation services. Taxpayers will be able to get their input tax on real esta

te payments deducted in full on a one-time basis, instead of on two occasions in two years.

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