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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Much work’ awaits new Sino-US trade talksnited Stat

hina and the United States will hold their eighth round of high-level economic and trade cons

ultations in Beijing on Friday, with “much work” remaining to be done, the Ministry of Commerce said.

Ministry spokesman Gao Feng said on Thursday that the two nations have made some progre

ss through recent phone discussions between Vice-Premier Liu He and US Trade Representative Robert Ligh

thizer and Treasury Secretary Steven Mnuchin. “But there remains much work to be done,” he said.

To iron out differences over certain economic and trade issues, China and the US have b

een intensifying their consultations. Next week, Liu will visit Washington for the ninth round of talks.

Negotiators from both sides are striving to implement consensuses reached betw

een the countries’ leaders in December, Gao said at a regular news conference.

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Event planned to fete PLA Navy’s 70th anniversary

More than 60 countries will send naval delegations to participate in the 70th anniversary of the founding of the Peo

ple’s Liberation Army Navy in late April, a spokesman for the Ministry of National Defense said on Thursday.

The celebration will showcase the progress of the PLA Navy and its growing capabili

ty in safeguarding China’s overseas interests as well as regional and world peace, an expert said.

The multinational naval event will take place in Qingdao, Shandong province, in late Ap

ril, said ministry spokesman Senior Colonel Wu Qian. April 23 is the 70th anniversary of the PLA Navy’s founding.

The naval event will include high-level dialogues, an international fleet review, military band performances, cultural and sports e

xchanges as well as other activities, Wu said. Some nations will send military ships to participate in the fleet

review, though details are still in the works and will be announced at a later date, he added.

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Retail sales of local government bonds attract eager

Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we

re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.

On Monday, individuals in China were able to purchase bonds issued by t

he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N

ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc

ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.

The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu

ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno

wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.

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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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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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Wang hailed Italian government’s forethought and pragmatis

gmatism over its decision of endorsing the Belt and Road Initiative (BRI), saying Xi and Mattarella agreed

that China and Italy, which are at the two ends of the ancient Silk Road, are natural partners in constructing the Belt and Road.

Conte, according to Wang, said the BRI will bring great opportunities to Italy. He also agre

ed to attend the second Belt and Road Forum for International Cooperation to be held in Beijing next month.

France is one of the earliest European countries that have expressed the willingness to take pa

rt in the BRI cooperation. During Xi’s visit to France, the two countries signed agreements on the third round of the BRI-related dem

onstration projects in third-party markets and kicked off a third-party market fund, Wang said.

At the closing session of a global governance forum co-hosted by China and France, Macron

said the BRI is significant and can play an important role in world peace, stability and development, adding that the EU could align

its development strategy with the BRI in an innovative way and jointly promote Eurasian connectivity.

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The Belt and Road Initiative is set to promote cooper

globally — not for China only, Asian Infrastructure Investment Bank President Jin Liqun said on Wednesday.

Jin made the remarks in response to questions over whether the BRI only involves C

hinese projects prior to the Boao Forum for Asia, which will officially begin on Thursday.

“It was a misunderstanding,” Jin said, adding any country or investor can do a BRI project

anywhere, so long as it promotes global and regional economic cooperation, peace and development.

“The so called ‘China strategy’ is simply to promote global cooperation,” he added.

Joint efforts essential to fight global warming: China Daily editorial

Record low temperatures in winter and record high temperatures in summer in many parts of the

world year after year and more frequent natural disasters caused by extreme weather events prov

ide strong evidence that global warming is not just an alarmist theory as some claim.

Yet striking a balance between the effective control of human activities that are contr

ibuting to climate change and economic growth is proving a hard nut for countries to crack.

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May has come under intense pressure to quit the prime minis

 minister’s post as the price of winning support for the deal.

At a meeting Sunday at the prime minister’s country retreat, Chequers,

prominent Brexiteers told May they might back the deal — if she agreed to step d

own so a new leader could take charge of the next phase of negotiations, which will

settle Britain’s future relations with the EU.

Former Foreign Secretary Boris Johnson, who attended the meeting and is likely to be a conten

der in any future Conservative leadership race, accused the government

of lacking “gumption” and chickening out on delivering Brexit.

Britaina’s best-selling newspaper, The Sun, put a call on its front page for the

prime minister to resign under the headline “Time’s up, Theresa.”

May is hanging on, hoping she can persuade Brexit-backing lawmakers that

rejecting her deal means Britain may never leave the EU.

She told lawmakers that Britain would not leave the EU without a deal unless

Parliament — which has already rejected the idea — voted for it.

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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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