Over 80 percent believed internship experience on the

e mainland will improve their competitiveness, and most expected to learn more of the vocational culture and work environment.

The HKUYA Student Exchange Network, an organization unde

r the Hong Kong United Youth Association, launched this year’s summer internship program on Wednesday.

More than 200 Hong Kong college students will go to Beijing, Shanghai, Harbin and Dalian to take part in a six-week

program. They will work in government organs, State-owned enterprises, cultural and business institutions.

Stanley Choi Tak Shing, honorary chairman of the student exchange network, said he hoped students would learn

more about the country’s development through the internship, especially those who want to work on the mainland.

A student who will work in the Mei Lanfang Theater in Beijing this summer vacation said she wanted to work in the art indu

stry after graduation, and expected to learn more about the industry through the internship.

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He said it does no one any favors to delink over poss

ssible national security concerns. Fair engagement across technologies is a better way to secure national security than delinking.

“The cost of decoupling will be very high for both economies,” he said. “Engage

ment in a fair competition with common rules is a far better outcome than decoupling.”

If there has to be some “decoupling” due to “valid national security conc

erns” in both countries, that should be kept to a minimum and not exaggerated, he said.

“Normal commerce is in the interest of both of our countries. And we should pursue it vigorously,” he added.

Allen also said members of the council are worried that they are now i

n a “very uncertain time” when the already tense situation could potentially deteriorate, as th

e world’s top two economies are embroiled in a protracted trade dispute with the Trum

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The currency’s depreciation was purely caused by mark

et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at

tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.

According to Guo, the short-term fluctuation of the RMB exchan

ge rate was normal, and the depreciation will not last long given the stable economic growth base.

“Any speculative activities to short the RMB will suffer huge losses,” he warned.

The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou

nd 6.89 per dollar for eight days from May 20, and market watchers said market-oriented depreciation pressure was losing steam.

Yi Gang, the central bank governor, has said several times that the PBOC has ceased

direct intervention in foreign exchange markets, and the performance of RMB is address

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The NDRC said in the recent media interview that Chin

na will adhere to the principle of fair and free trade in its management of rare-earth ex

ports, but “the Chinese people will be unhappy” if the country’s exported rare-earth metals are used against China.

Since the start of the China-US trade friction more than a year ago, Washington has taken many measures, includin

g taking advantage of its edge in high-end chip making, to stymie Chinese high-tech firms, the NDRC said.

The NDRC added that in its latest move to dampen China’s industrial development, the US governme

nt has used an executive order to effectively ban products of Chinese tech giant Huawei from being use

d in the US, which has been widely seen as unreasonable and unfair. Having been increasingly used in high-tech ind

ustries, rare-earth metals are critical in making products from advanced weaponry to chips and hybrid cars.

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These parties tend to look at trade agreements purely from

m a nationalist point of view and if a trade agreement is seen as overall beneficial for their co

untry, they could support it. For instance, Italy voted in favor of the EU agreement with Japan but again

st the agreement with Canada. The content of the agreement is key. For instance, these parties do not like clauses tha

t curtail the powers of single EU member states, such as the establishment of new regulatory or arbitration bodies.

Another uncertainty is Brexit. Whether it will happen or not? And what might change under

a new British prime minister? The new Brexit Party under Nigel Farage was the clear leader in the EP

election in the United Kingdom, but the UK’s 73 EP members have to leave the EP as soon as Brexit takes place.

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Cyclists should travel on the right and be aware that rid

t riding against the traffic and parking are not allowed on the bikeway. In t

he event of a bicycle breakdown, cyclists should wheel their bikes to the nearest exi

t and leave the bikeway, keeping to the right side of the road, said the rules. There are eight entrances and exits on th

e 6.5-km bikeway and six of them are equipped with assistive mobility devices for bicycles.

To better meet the needs of commuters, a reversible lane has been introdu

ced on the bikeway, and cyclists should ride in the direction shown on the signs.

Some 11,600 commuters travel between Huilongguan and Shangdi daily, and the ope

ning of the reversible lane is expected to provide convenience to them during rush hours.

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A spokesperson at Volkswagen China said SEAT is schedu

uled to become a shareholder of the joint venture by the end of 2019, holding at least 1 percent of i

ts equity. According to Chinese norms, it is mandatory for international brands to produce vehicles in China bearing its names.

Luca de Meo, CEO of SEAT, said: “China is the benchmark country for electric vehicles. We aim to be a part of this ecos

ystem in order to exchange knowledge and make progress in achieving global mobility that is more sustainable.”

Currently, JAC, Volkswagen and SEAT are building a 4 billion yuan ($579 million) research and development center in Hefei, which is expected to open in 2021.

JAC and SEAT also plan to develop their own platform for smaller electric cars, a segment that is growing faster than the large-sized ones in China.

“The close cooperation between SEAT and JAC will allow us to create synergies, which wil

l significantly increase our market coverage,” said Volkswagen CEO Herbert Diess, who is also chairman of SEAT.

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US President Donald Trump, in the name of “national sec

urity”, signed an executive order on May 15 that led the US Department of Commerce to put Huawei and its affilia

tes on an Entity List, which would restrict the sale or transfer of US technologies to the company.

Craig Allen, president of the council, said many of its members are suppliers to Huaw

ei, and all of them have been impacted by the Department of Commerce’s move.

Founded in 1973, the council represents around 200 US companie

s doing business with China, including Apple and Microsoft. It also includes chipmakers Inte

l and Qualcomm, which have said they would stop offering supplies to Huawei until further notice.

The members will follow US law, but there is a cost associated with that, Allen told China Daily.

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China attaches great importance to the development of th

 the big data industry and is willing to share opportunities of the dig

ital economy’s development with other countries and jointly explore new growth drive

rs and development paths by exploring new technologies, new business forms and new models, Xi added.

With increasingly wider applications of digital technologies in China, the country is expected to genera

te and store 27.8 percent of global online data by 2025, up from 23.4 percent last year, according to a re

port by market researcher International Data Corp and data storage firm Seagate.

In comparison, the US share will stand at 17.5 percent by 2025, a drop from its 21 percent share in 2018, the report added.

United Nations Secretary-General Antonio Guterres said that f

rom medicine to transportation to farming, big data presents the world with a r

emarkable tool to advance global progress, but with that opportunity also comes risk.

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Li Daokui, director of the Academic Center for Chine

se Economic Practice and Thinking at Tsinghua University, said China “should be more confident” in accelerating open

ing-up of its financial sector, which will help global investors seize numerous opportunities in the Chinese market.

Domestic financial institutions are now capable of engaging i

n fiercer competition with global peers as their service abilities in many aspe

cts, such as banking and insurance, have improved a lot over the past years, Li said.

Despite headwinds from the trade tensions, global investors are still optimistic about China’s economic pro

spects, said Zhang Zhiwei, Deutsche Bank’s chief China economist and head of China equity strategy.

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