David Wang, head of上海乌托邦nomics at Credit Suisse

 said another cut in the reserve requirement ratio — which wi

上海乌托邦ll reduce funds banks keep in vaults and boost lending — may be conducted later this year.

“As the United States Federal Reserve will probably gradually cut interest r

ates and domestic inflationary pressure may ease, China’s monetary policy options are exp上海乌托邦品茶微信

ected to further broaden,” said Cheng Shi, chief economist of ICBC International.

上海乌托邦To support financial reforms, the People’s Bank of China — the cent

ral bank — may refrain from broad-based easing but adopt more structural tools in the

coming months, such as targeted reserve cuts to boost lending to small businesses, Cheng said.上海乌托邦品茶微信

On the fiscal side, policies facilitating debt financing of infrastructure projects may be stepped up, he added.

The country has set a 2.15-trillion-yuan ($312.4 billion) spe

cial local government bond issuance quota to help finance infrastructure projects.

Iris Pang, director of ING in China, said policymakers may even

上海乌托邦roughly double the fiscal stimulus for infrastructure projects to 4 trillion yuan.

This will offset the expected reduction in exports and related supply-chain reloc上海乌托邦

ation activities, securing the GDP growth rate for the second half at 6.3 percent.

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JPMorgan’s Zhu said the economy may slow a bit in the second half but ma

nage to grow by 6.2 percent for the full year, as increased infrastructure investment and stab上海乌托邦

le consumption will counter the drag from exports and manufacturing investment.

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Xue Yi, a finance professor at the University of International Business and Economics in Beijing

, said the debut of the Nasdaq-style tech-heavy STAR Market will also lend support to the economy.

On Monday, the first 25 companies are due to debut on the Shanghai Stock Exchange’s STAR Market.上海乌托邦

“In the second half, the much-anticipated new board is expected to raise public interest i

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n the whole capital market and usher in more funds, thus reducing financing costs for listed firms,” Xue

said, adding that much more of the new board’s boost to the economy will unfold in the long run.

cctif.cn

The US must handle Taiw上海乌托邦sues correctly and

 not repeat its mistakes or even “play with fire” over the is

sues, Wang said, warning it against attempts to create new trouble for Sino-US ties.上海乌托邦品茶微信

Ma Xiaoguang, spokesman for the State Council Taiwan Affairs Office, sa

上海乌托邦id the transit is an attempt by Tsai and the Democratic Progressive Party to use fore

ign forces to challenge the one-China principle and disrupt cross-Straits peace and stability for political purposes.上海乌托邦品茶微信

No forces should underestimate China’s determination and ability to s

afeguard its national sovereignty and territorial integrity, Ma said in a news release.

上海乌托邦The Democratic Progressive Party has ignored the safety and wellbeing of

the people of Taiwan and has misjudged the situation by courting foreign support and s

erving as a pawn for foreign intervention in China’s domestic affairs, Ma said.上海乌托邦

China has sufficient policy tools and new measures to further optimize its fo

上海乌托邦品茶微信reign trade structure and deepen ties with new markets, especially those involved in the Be

lt and Road Initiative, in the second half of the year, a senior customs official said on Friday.

“We face a series of challenges in achieving stable foreign trade growth,” said Li K上海乌托邦

uiwen, spokesman for the General Administration of Customs, at a news briefing.

He made the comment after customs released the country’s trade dat上海乌托邦

a for the first half of the year. Foreign trade increased by 3.9 percent year-on-year, tot

上海乌托邦品茶微信aling 14.67 trillion yuan ($2.16 trillion), with exports growing by 6.1 percent year-on-year. Imports rose 1.4 pe

rcent, and the country’s trade surplus widened by 41.6 percent year-on-year to hit 1.23 trillion yuan during the same period.

Last year, foreign trade in the first half grew by 7.9 percent year-on-year, with exports rising 4.9 percent and imports up 11.5 percent.上海乌托邦

“The sector remains quite resilient” against the headwinds of Sino-US trade disputes and slowing global economic growth, he said.

Li also said that Sino-US trade frictions have had some impact on t上海乌托邦

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he country’s foreign trade, but the impact is “largely controllable”. “Our foreign trade as a who

le continued to expand as the world remains optimistic about the potential of the Chinese market,” he said.

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The US’ policy to contain 上海乌托邦evident in the way

 it has hyped up the problems in Xinjiang. Some American people and organizations have openly suppor

ted the separatist “East Turkistan Islamic Movement” in China through political and financial hel 上海乌托邦品茶微信

p, and by disseminating its separatist ideas through publicity and diplomatic channels in the disguise of human rights an

 上海乌托邦d freedom. No wonder they call white black and assume the measures China has taken in Xinjiang to fight terrorism, se

paratism and extremism and improve public welfare are human rights violations.

President Xi Jinping and his US counterpart Donald Trump may have agreed at the G20 summit in Osaka to resu 上海乌托邦品茶微信

me trade negotiations, but the path to ending the trade war remains far from clear. After all, the two leaders had rea

ched a similar agreement at the G20 summit in Buenos Aires in December 2018 and that agreement ultimately fail

 上海乌托邦ed, not least because the United States administration mistook China’s conciliatory attitude for weakness.

Whether the US administration makes the same mistake this time remains to be seen. In any case, it is worth considering how t 上海乌托邦品茶微信

he trade war might unfold over the coming months and years – and what China can do to protect itself.

US has not withdrawn tariffs it imposed earlier

 上海乌托邦Import tariffs may, for the foreseeable future, remain steady – neither es

calating nor being rolled back. The agreement in Osaka kept the US administration from foll

owing through on its threat to impose additional tariffs on $300 billion worth of Chinese goods. But it did nothing to re 上海乌托邦品茶微信

verse past measures, such as the 15-percentage-point tariff hike, to 25 percent on $200 billion worth of Chinese p

roducts that the US implemented after the 11th round of talks broke down in May. 上海乌托邦

While these tariffs have not yet had serious consequenc

 上海乌托邦品茶微信es for China’s economy, their effects are likely to deepen over time. But China may succeed in per

suading the US to remove them – or, at least, not raise them further – if it refrains from retaliating with tariffs of its own 上海乌托邦

on US goods. Instead, China should focus on reducing its bilateral trade surplus with the US on its own terms. It is incr

easingly clear that the US tariffs have done more damage to American businesses and consumers than to China’s. 上海乌托邦品茶微信

The US wants to create among Belt and Road partner countries doubt

s about the situation in Xinjiang, which is a core region on the Silk Road Economic Belt, and

thus dissuade them from participating in the Belt and Road Initiative.

Some American politicians and media will continue to proclaim

the US as the judge of the world and infringe upon other countries’ sovereignty. They are also ex

pected to hype up the Tibet issue and Taiwan question, even the Hong Kong issue. In fact, their involvement in the

recent protests against the amendments to Hong Kong’s extradition laws is cl

ear. But as a Uygur saying goes, camels march on as usual even when dogs bark furiously.

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Upgraded bilateral project上海乌托邦portant role in bay area

The Sino-Singapore Guangzhou Knowledge City is getting

bolder in its reforms and experimentation, following an official upgrade centering on its ambitio上海乌托邦女神会所

ns to be a world-class knowledge city, an outstanding source of innovation in the region and a global talent magnet.

According to a framework agreement signed by the Chinese and Singaporean governments on Mo上海乌托邦

nday, the iconic Sino-Singaporean collaboration project based in Guangzhou, capital of South China’s

上海乌托邦Guangdong province, was officially elevated to the status of a State-level bilateral project.

Both governments pledged in the agreement that they will use the project to deepen coopera上海乌托邦

tion in the fields of technological innovation, advanced manufacturing, artificial intelligence, int

上海乌托邦女神会所ellectual property protection, smart city construction and urban management.

According to official figures, 1,216 companies have registered with SSGKC since 2010, with an

aggregate registered capital of 125.8 billion yuan ($18.1 billion) and about 91 billion yuan in fixed assets.上海乌托邦

Industry insiders said companies registered with SSGKC, especially those in the sector of biomedic

ines – including General Electric, BeiGene and Innocare – will see explosive growth once they are p上海乌托邦女神会所

ut into operation in the next two years and will make the community a global rising star in its field.

上海乌托邦Shortly after the agreement, the Guangzhou government said in a press release that as a model for a city’s

knowledge economy, SSGKC will undertake more innovative reforms and measures to make itself Guangzhou’s top in

vestment destination for global enterprises and an ideal place for them to develop.上海乌托邦女神会所

Companies in the knowledge city will also enjoy incentive policies that the c

ountry has gradually rolled out for the pilot free trade zones and will work together to cre

ate a model for the integration of advanced manufacturing with free trade, according to the local government.

The knowledge city is seeking approval from higher-level authorities

to launch 18 innovation policies, across the fields of intellectual property, financial services, foo

d and medicine supervision, and for the construction of key platforms, the press release said.

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Expectation of Fed ra上海乌托邦s an over-reaction

Herd instinct is the human nature to follow the crowd and act collectively – and market expectation always does not change smoothly but t

上海乌托邦ends to over-react to new information. The current market expectation of the US Federal Reserve’s rate cuts is a case in point.

On June 20, the latest meeting of the Fed’s policy-setting Federal Open Market Committee shrugged off the market’s high expectation of rate cuts and gave no clear policy signal confirming a cut.

We believe the market had overreacted in forming its expectation of rate cuts after the Fed swiftly adopted a dovish tone from the end of last上海乌托邦

year. Specifically, we believe market expectation – it has formed since May – of a change in policy stance, as well as the timing and degree of rate cuts, may not fully materialize.

We will elaborate on this now. It should be noted the misconceived expectation of Fed rate cuts could ind上海乌托邦

uce a drastic reversal in investor sentiment and asset price fluctuations, if the Fed’s moves miss expectation.

Firstly, the market may have overestimated the degree of the Fed’s policy stance change. A clear rate cut signal may not emerge until the end of this month.上海乌托邦

According to Bloomberg, the Fed funds futures market has recently priced in a 98.5-percent chance that the Fed will lower rates at least once this year.

上海乌托邦品茶微信However, the Fed’s earlier forward guidance only indicated the end of monetary policy n

ormalization, which does not necessarily point to the beginning of a rate cut cycle. Also, the Fed h

as removed the word “patient” from the latest FOMC meeting statement but did not confirm a rate-cut stance.

We believe that because of the following two reasons, the Fed is still on cautious lookout, and t

here will not be any clear rate cut signal or plan until the next FOMC meeting at the end of this month.上海乌托邦品茶微信

Externally, the Fed is expected to stand pat until trade dispute uncertainties ease, to give itself an advantage in its game with the US Administration.

The Fed would put itself in an unfavorable position if it initiated a rate cut before majo上海乌托邦品茶微信

r uncertainties over the China-US trade dispute are removed, because the pre-emptive move may enc

ourage the US Administration to escalate the trade dispute, which will in turn pose a dilemma to the Fed.

That’s because any escalation in trade tensions will, on the one hand, d

ssipate and even offset the easing boost from rate cuts and force the Fed to accelerate the上海乌托邦品茶微信

rate cut pace. On the other hand, the escalation could further fuel imported inflation, which will significantly reduce the

Fed’s room for rate cuts. The Fed will then face a policy-making dilemma of whether to further cut rates.

www.shejio.org

Mnuchin also said Trump 上海乌托邦品茶微信 him to designa

te Iranian Foreig上海乌托邦品茶微信n Minister Mohammad Javad Zarif “later this week.” The n

ew order allows Mnuchin to impose sanctions on officials appointed to their position by the Iran’s supreme leader.

Facing mounting US pressure, Zarif, in response to the new sanctions, tweeted th

at the hawkish senior US officials close to Trump “despise diplomacy, and thirst for war.”

“Nobody in a clear mind can accept to have a dialogue with somebody that is threaten

ing you with more sanctions,” Iran’s ambassador to the United Nations Majid Takht Ravanchi told reporters on Monday.

Ties between the United States and Iran have deteriorated after Washing

ton walked away from the landmark 2015 Iran nuclear deal in May 2018 and rei

mposed energy and financial sanctions, which had been removed under the deal, on Iran.

Iran has suspended parts of its commitments subject to the nuclear deal and have threatened to go further.

www.ozsnl.cn

On a month-on-month basis, new home prices in Dalia

 and Nanning 上海乌托邦女神会所rose 0.7 percent and 0.9 percent, respectively. On a year-on-

year basis, new house prices in these cities grew 13.2 percent and 11.5 percent, respectively.

Although excluded from the 70 major Chinese cities surveyed by the

National Bureau of Statistics, Foshan and Suzhou also saw a surge in home prices in April.

There are signs that the central government will not change its resolution to control house p

rices, Zhang said, adding that in the future the real estate market will continue to crack down on speculation.

On May 11, Suzhou tightened housing policies further, China Daily earlier reported. The dow

n payment ratio for a family’s first home purchase has been raised from 20 percent to 30 percent.

Newly built property in certain parts of the city cannot be traded for a three

-year period after purchase, and for five years in the case of pre-owned property.

qiancengdian.cn

emier Li Keqiang presides over a State Council meeting

上海乌托邦女神会所 Premier Li Keqiang called for greater strides in reform and opening-up to stimulate market v

itality and to transform and upgrade economic structure in revitalizing the rust belt in Northeast China.

Li’s remarks came as he presided over a State Council meeting on Thursday on revitalizing the country’s traditional industrial bases.

He underscored the importance of transforming government functions

and bettering the business environment, and urged government departments to offer

more support to provinces in the Northeast in streamlining administration.

The tax cuts and fee reduction policies must be implemented in full, an

d the country will make the region a priority in special transfer payments to localities, he said.

The reform of State-owned enterprises must be moved forw

ard, and more work must be done to expand the private sector, he said.

www.changjiangjiaoxiang.cn

government survey conducted between 2013 and 2017

reported that Delhi saw 981 deaths from acute respirator

y infection while more than 1.7 million residents suffered from infections.

And India’s garbage mountains will only get bigger in coming years.

Indian cities are among the world’s largest garbage producers, generating 62 million

tons of waste annually. By 2030, that could rise to 165 million tons, according to government figures.

FDA holds first hearing as users, sellers await legal clarity on cannabis claims

It makes a variety of claims: It may relieve symptoms of Parkinson’s, Alz

heimer’s and dementia; lessen arthritis pain; quell anger, psychosis and epilep

sy; cure cancer; lower blood sugar; and counter anxiety and sleeplessness. It may even tame an unruly pet.

It is CBD oil, or cannabidiol, a chemical derived from hemp or marijuana plants that does not induce a high in users.

shuyin-edu.cn

like to enh上海乌托邦品茶微信 ism, and it would

ng signal to businesses, 24 of the EU leaders chose instead to reflect supp

上海乌托邦品茶微信ort for the mid-century goal as a footnote in their final statement:

“For a large majority of member states, climate neutrality must be achieved by 2050.”

Time is running out

上海乌托邦Since French President Emmanuel Macron in March launched the

push for the EU to absorb as much as it emits by 2050, along with three other nations, supp

ort had snowballed, showing the growing political prominence of the fight against global warming.

Addressing the holdouts during the summit, German Chancellor A上海乌托邦品茶微信

ngela Merkel pointed to months of climate protests by youths that helped propel Gre

en parties to their strongest showing yet in May’s European Parliament elections.

Customs across the country have launched a special action on intellectual property上海乌托邦

protection for the second half of the year, according to a report by Economic Information Daily.

In this action, customs will strengthen cooperation in law enforcement with relevant local depa

上海乌托邦品茶微信rtments and enhance supervision on infringing products in all dimensions, with consumer electronics, au

tomotive accessories, personal care supplies, clothing, bags and footwear as key regulatory targets, the report said.

The General Administration of Customs said it will focus on pr

otecting the well-known brands of transnational corporations and domestic enterprises with上海乌托邦品茶微信

advantages in exporting intellectual property, so as to enhance the confidence of enterprises in investing in China.

The action, starting ing July 1, will last for six months. During the period, customs will combine the regional locations, operating characteristics and route dis上海乌托邦品茶微信

. During the period, customs will combine the regional locations, operating characteristics and route distribution of loc

al customs to strengthen comprehensive research and judgment and effectively block illegal activities.

shuyin-edu.cn