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Month: March 2019

The draft amendment to the patent law has been sub

The government has started formulating matching regulations and rules to support implementation of the Foreign Invest

ment Law, adopted two weeks ago, Li said, adding that supporting regulations will take effect along with the law on Jan 1.

The draft amendment to the patent law has been submitted to China’s top legisl

ators. It sharply increases compensation for infringement to a cost that violators will not be able to afford, he said.

Forced technology transfers are prohibited and violators will receive harsh penalties, Li said. The complaint mecha

nism for foreign-invested companies will be perfected to improve exchanges and coordination between the gover

nment and investors, making it an effective way to protect the legal rights of foreign companies, he said.

China will not resort to massive economic stimulus to boost

growth, but will continue to open up and innovate to energize market players, Li said.

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Cooperation is the best choice for China and the US,” Ga

 said. “This is not only beneficial to the two countries and their peoples, but also conducive to the entire world.”

The words came as the US Department of Commerce reported that the US trade deficit with China narrowed by 6.4 perce

nt to $34.5 billion in January. US goods exports to China dropped 22.3 percent to $7.1 billion, the lowest since Sep

tember 2010, and Chinese imports dropped 9.6 percent to $41.6 billion, the Commerce Department said.

The trade imbalance has been at the center of monthslong tensions between China and the US. Other iss

ues at the top of the list for their consultations include technology transfers and protection of intellectual property rights.

Gao said guaranteeing that companies can pursue technical cooperation based on voluntary principles and business rules is cond

ucive to creating a fair and competitive business environment and promoting high-quality economic development.

“It is in line with China’s need to further deepen reform and opening up,” he said.

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Currently, all special purpose local government bonds are

domestically rated “AAA”, the safest level. The sale to individual investors is mainly of project-link

ed special-purpose bonds, a type of local government bond vigorously promoted by the government in re

cent years. The cash flows generated from the underlying projects will be used as the primary repayment sources.

In China, there are two types of local government bonds: general bonds and special purpose bonds. According to the country’s 2019 budget repor

t, which was approved by the top legislature earlier this month, the budgeted deficit for local governments is 930 billion yuan, up 100 billi

on yuan compared with 2018, and this fund gap will be supplemented by general bonds.

In the meantime, 2.15 trillion yuan of special purpose bonds will be issued to support la

rge infrastructure projects, such as shantytown renovation projects and railways, said the ministry.

Letting individual buyers invest in local government bonds is a way to narrow the government’s financin

g gap, said Hu Yijian, a tax professor at Shanghai University of Finance and Economics. The gap is expected to expand, as policym

akers decided to cut about 2 trillion yuan in taxes and fees this year while at the same time increase spending on investment.

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But some were unmoved and the Northern Irish party cruc

rucial to getting the agreement through said it would reject the deal again.

Britain was supposed to leave the bloc on Friday but Brussels agreed last week to put back the

divorce date until April 12 to give it a chance to resolve a three-year crisis that has split the country down the middle.

However, it still remains uncertain how, when or even whether the United Kingdom, the wo

rld’s fifth-biggest economy, will leave the EU. The possibilities that it will leave with no deal to so

ften the shock to its economy, or delay the departure date to hold a general election, have increased as other options fade.

While May’s deal continued to stumble, an attempt by parliament to take control of the proc

ess by holding a series of indicative votes on other options produced no immediate way through the impasse.

None of the proposals, many of which involved closer alignmen

t with the EU than May envisages, won the support of a majority of lawmakers.

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Li, who inspired the boom after winning Asia’s first major

 title at the 2011 French Open, warned that increased funding and exposure for the sport does not guarantee Grand Slam champions will follow.

“After the US Open (in August), players don’t need to travel overseas with tournam

ents held at home one after another,” said Li, who is an ambassador for her hometown Wuhan Open in Hubei province.

“However, for the younger players nowadays they are likely to squander the opportuni

ties that we had to fight hard to earn, because everything comes easier and more frequently.

“They have to focus on the game itself rather than the exposure or expectations off

the court to really improve one event at a time and benefit from the momentum.”

When Li turned pro in 1999 China had only two entry-level tournam

ents. Now the Women’s Tennis Association calendar features nine Chinese tourn

aments, including the premier mandatory China Open in Beijing and year-end WTA Finals in Shenzhen.

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Dinosaur-era bird fossil found with unlaid egg dating back abo

A group of scientists in Gansu province have discovered a fossilized b

ird dating back about 110 million years and the first ever to have an unlaid egg in its abdomen.

The fossil represents a new species, Avimaia schweitzerae, belonging to a group called the Enantiornithes, which was a

bundant around the world and coexisted with dinosaurs in the Cretaceous period.

The well preserved fossil was discovered in the city of Yumen.

Because the specimen was crushed flat, it was only after a small fragment was extracted and analyzed under a micro

scope that the research team at the Chinese Academy of Sciences’ Institute of Vertebrate Paleontology and Pal

eoanthropology realized the unusual tissue was an egg, said Alida Bailleul, the lead author of the article.

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This year marks the 55th anniversary of China-France

diplomatic ties. During their meetings, Xi agreed with French President Emmanuel Macron and Prime Minister Edouard Philippe to f

orge a more solid, stable and vibrant China-France comprehensive strategic partnership, and continue to explore the way for major countries to get al

ong with each other, which should feature independence, mutual understanding, foresight, mutual benefit and win-win outcomes, Wang said.

In the joint statement issued by China and France on jointly safeguarding multilateralism and improving global governa

nce, the two sides pledged to build international relations of mutual respect, equality, justice, and win-win coop

eration on the basis of respecting international laws and the basic principles of international norms, Wang said.

Speaking of Xi’s visit to Monaco, Wang said leaders of the two cou

ntries have agreed to firmly stick to the correct direction of bilateral relations, adhere to open

ness and cooperation, and pursue more win-win results so as to jointly elevate the China-Monaco relations into a new era.

During Xi’s talks with Prince Albert II, head of state of the Prin

cipality of Monaco, the Chinese president said both sides should adhere to openness and cooperation a

nd pursue more win-win results, adding that China welcomes Monaco to actively participate in the joint development of the Belt and Road.

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After 10 years of development, China’s new energy veh

cles are starting to gain momentum in the private market. With the overall vehicle market remaini

ng flat, sales of new energy vehicles last year reached 1.25 million, up 61.7 percent year-on-year, and

the figure is expected to reach 1.6 million this year according to the China Association of Automobile Manufacturers.

China plans to stop subsidies on new energy cars by the end of 2020. To ensure a smooth transi

tion, the government decides to achieve this goal by enacting policy in several phases. This year’s subs

idy standard was slashed 50 percent on average from 2018, Xinhua reported, citing a person with knowledge of the matter.

The source said the proportion cut is basically consistent with falling ratios of general cost for co

mplete vehicles, while pointing out with the rapid expansion of the NEV industry some enterprises tend

ed to become reliant on long-standing subsidies, leading to weak competitiveness.

The statement also asked local governments to remove subsidies on purchases o

f new energy cars after a three-month grace period starting Tuesday. Instead, more funds will be used

to build infrastructure, including charging and hydrogen refueling facilities, and to facilitate relevant services.

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Livestreaming to vitalize cross-border e-commerce

Zhang Ying, 32, a white-collar worker in Beijing, is a jewelry lover. She prefers watching lives

treaming videos via some cross-border e-commerce platforms to buy foreign products in her spare time.

“Pictorial representations are not exactly the right way to purchase commodities online, I had som

e problems as the products did not match up to the expectations promised on the onlaine platform advertisements.”

Zhang said daigou (overseas shoppers who buy foreign products for customers on the Chinese mainland) can dem

onstrate details of products like jewelry in accordance with what the buyer wants through the livestreaming method.

“I can take a good look at the design, material, color, size and even every angle of the jewelry. It feels like that I can pick out the

products on my own. After comparing various necklaces and bracelets, I can decide which one fits me the best.”

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Zeng Bibo, founder and CEO of Ymatou, said overseas shopp

ping via livestreaming services could completely and truly demonstrate the detailed infor

mation of overseas products to domestic consumers, and have gained wide popularity with the younger generation.

Zeng added that the consumers’ demands have become more p

ersonalized and diversified. “They have higher requirements for high-quality and cost-effe

ctive products, which brings out huge opportunities for cross-border e-commerce industry.”

It is noteworthy that the post-90s generation favor niche

and designer brands, and also are addicted to livestreaming videos, Zeng said.

Founded in 2010, Ymatou is a consumer-to-consumer or C2C marketplace engaged in cross-border e-commerce.

By the end of the second quarter in 2018, the site had about 50 million users and hired more than 60,000 overseas buyers in 83

countries including the United States, the United Kingdom, Japan, South Korea and Australia.

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