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Fortunately, a growing number of Chinese high net wort

th investors have started to realize the importance of not putting all their eggs in one basket, said Zi Yu

an, head of investment platforms and solutions at UBS Securities. One solution is to hold dif

ferent currencies to avoid the possible risk of the exchange rate fluctuation of one single currency.

“They are looking at more overseas markets. Different markets sometimes are litt

le connected. For example, the Chinese stock market was really disheartening last year. But if an investor all

ocated his assets in the US stock market or other markets with high yield bonds, the loss in the Chinese stock m

arket will be offset and the stability of the entire investment portfolio will be further consolidated,” he said.

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hina’s revised civil servant law takes effect

China’s civil servant law, newly revised in December 2018, took effect Saturday.

The revised law clarifies systems of civil servant promotion and asses

sment, and includes statutes to improve rewards and benefits such as pension schemes.

It also tightens supervision over civil servants, keeping its statutes in

line with the supervision law and disciplinary rules of the Communist Party of China.

The revised law bans civil servants from working as leaders of industry regulators or administrati

ve departments in charge of supervising businesses run by their spouses, children or in-laws.

The civil servant law first took effect in 2006.

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All-women quartet gives Peking Opera a unique touch

For the first time in the history of Peking Opera, four women recently performed a

piece in the China National Peking Opera Company production, Stories of the Red Army.

The Peking Opera performance was one of the 51 productions showcased at the 12th China Art Festival in Shanghai.

Two performances took place at Shanghai’s Majestic Theater on May 27 and 28.

For the show, the CNPOC brought together three stories based on events during the Red Army’s epi

c Long March (1934-36), to create the modern Peking Opera, which premiered in Beijing on Aug 1, 2018.

“They are stories about the resilience and bravery of the Red Army during the Long March,” says Song Chen, head of the CNPOC.

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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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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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hina promises to counter US tariffsay urged tes to c

China’s Ministry of Commerce on Thursday urged the United States to correct its use of tariffs, and vo

wed to take necessary countermeasures if the US’ new tariff plan targeting $300 billion in Chinese imports takes effect.

The US government’s bullying behavior and maximum pressure regime on China violate mu

ltilateral trade rules, ministry spokesman Gao Feng said at a regular news conference.

The office of the United States Trade Representative proposed to take further action by imposing 25 percent of addition

al tariffs on Chinese imports with an annual trade value of approximately $300 billion. The USTR is seek

ing comment and will hold a public hearing regarding the proposed modification on June 17.

Gao said the impact of US tariffs imposed on Chinese products starting last year was “completely controllable.”

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Govt should accelerate tax cuts to invigorate economy, pre

Premier Li Keqiang urged government departments to speed up the implement

ation of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturing, constructio

n and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measures in t

he past months, after the measures were introduced by Li in the Government Work Report in March. Th

ey also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision

made by the Communist Party of China Central Committee and the State Council. It has boosted

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He underlined the importance of properly mitigating

various social conflicts, and said efforts must be made to address legitimate and lawful concerns to safeguard public int

erests, and also guide the public in voicing their concerns in a law-based manner to maintain social order.

Strong pressure must be maintained to crack down on crimes such as organized gang activity, violent and terroristic cri

mes, as well as those related to fraud, robbery, food and drug safety, and environmental protection, Xi said.

Calling social fairness and justice a lifeline for judicial and law enforcement work, Xi called for improving the mec

hanism of the use of power in law enforcement as well as the supervision over such powers.

Efforts should be made to help the public feel fairness and justice in every case, Xi said.

He also urged public security staff to improve their work so that human rights can be guarant

eed while crime is fought, and fairness can be ensured while efficiency of law enforcement is pursued.

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teps aimed at helping further develop countryside opt

hina will undertake key measures to further integrate the country’s rural and urban areas

and encourage the transfer and free flow of people and resources throughout the nation.

Measures include relaxing hukou (household registration) barri

ers, reforming zoning regulations for rural and residential land, marketing collective land

in rural areas for development purposes and increasing infrastructure spending in the countryside.

Experts said the new plan, announced by the Communist Party of China Ce

ntral Committee and the State Council late on Sunday, is aimed at helping realize steady progr

ess in rural revitalization, driving up the process of urbanization and further boosting the economy.

China has a three-step plan. First, it will initially build a framework an

d mechanism for integrated development of urban and rural areas, and gradually rem

ove limits on hukou registration in cities by 2022. Second, it will bring about an improved framewo

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hina will provide proposals for World Trade Organ

ization reforms and enhance communication with member countries and regions to deal with trade issues. That will stre

ngthen the WTO and jointly maintain free trade and the multilateral trade system, he said.a

Beijing International Horticultural Exhibition welcomed its first tourist peak by serv

ing more than 320,000 tourists during the four-day May Day holiday, the organizer said Saturday.

Lei Lei, an official with the organizing committee, said the Chinese Pavilion, the Inte

rnational Pavilion, the Life Experience Pavilion, the Botany Pavilion and the Gui

Some 132 activities, including float parades, world ethnic and folk cultural perform

ances, and culture and art carnivals staged by central and eastern European countries, were held during the holiday.

With the theme of “Live Green, Live Better,” the expo opened to the public on M

onday at the foot of the Great Wall in the capital’s Yanqing District and will last until Oct 7.

rui Theater were among the most popular destinations, which h

ave received a total of over 734,000 visitors during the holiday.

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