Substantial and resolute efforts must be made to prevent

 major contradictions and outstanding problems through coordinated planning and targete

d measures to make reform better serve the country’s economic and social development, Xi said.

The meeting reviewed and approved a series of official documents including a guideline on innovation and improving ma

cro-regulation, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.

The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize eco

nomic growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr、

eventing risks, and ensuring social stability, according to a statement issued after the meeting.

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new college graduates aged up to 24 years old increased by

ed by 8.4 percentage points, as the global financial crisis caused demands to fall drastically. It i

s possible that the Sino-US trade dispute could have a similar impact on the job market.

So the government should implement an expansionary macroeconomic policy to create a loose em

ployment environment and better implement social security measures to cope with frictional u

nemployment and the structural employment problem of college graduates.

To offset the possible negative impact of the Sino-US trade dispute on college graduates’ employment, the government sho

uld also expand post-graduate enrollment, increase internships for unemployed college graduates and imp

lement favorable policies to ease the enterprises’ financial burden so they can recruit more employees.

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Wuxi officials punished over kindergarten ‘gang’ question

Three officials in Wuxi, East China’s Jiangsu province, have been given Party and administrative

punishments on Thursday over an inappropriate question about whether kindergarten children wer

e involved in gangs, the local government said on its official Wechat account.

According to the government of Wuxi’s Xishan district, Feng Dongyan, director and Party ch

ief of the Xishan Education Bureau, has been given the punishment of warning within the Party.

Wang Zhaoyu, director of the educational bureau’s general office, has been given a serious war

ning within the Party and removed from office. Lu Zhongxian, director of the bureau’s educational equ

ipment and student aid management center, was also given a serious warning and dismissed.

www.qianpdd.com

The global market share for Huawei witnessed an incre

 increase from 10.5 percent to 15.7 percent over the same period last year.

Huawei’s smartphone sales grew in all regions and the company did particularly well in the European market, with sales up 69 percent.

Apple ranked third on the list with sales declining to 44.56 million and market share down to 11.9 percent in the first quarter of 2019.

China’s smartphone vendors OPPO and Vivo ranked fourth and fifth, respectively, on th

e list released by Gartner, indicating a 2.7 percent decline in global smartphone sales in the first quarter of this year.

According to another market research firm IDC, shipments by Huawei increased by 50 percent to 59.1 million uni

ts in the first quarter of this year, replacing Apple to grab the second spot again since the second quarter of last year.

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The US Treasury removed India from the watch list, whil

Chinese authorities have not used the exchange rate in prior easing cycles to support growth, and they are unlikely to do so now, as this could pose mac

roeconomic stability risk,” said Andrew Fennell, lead sovereign analyst for China at Fitch Ratings.

The world’s second-largest economy maintained its foreign exchange

reserves at $3.095 trillion at the end of April. The reserve amount was stable, although it sli

ghtly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.

Li Yang, director of the National Institution for Finance and Development of th

e Chinese Academy of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to def

end its currency, even if depreciation pressure rises amid any escalation in trade tension.

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The meeting reviewed and approved a series of official doc

ocuments including a guideline on innovation and improving macro-regulation

, as well as a guideline on strengthening opening-up and cooperation in innovation capacity.

The meeting called for taking the supply-side structural reform as the main task, making coordinated efforts to stabilize economic

growth, promoting reforms, readjusting the economic structure, improving people’s livelihoods, pr

eventing risks, and ensuring social stability, according to a statement issued after the meeting.

The strategic guiding role of national development planning should be leveraged to improve coordination mec

hanisms for economic policies such as finance, currency, employment, industry, and regional development to en

sure the nation’s economic development stays within a reasonable range, the statement said.

www.aishedesb.com

The results of the elections for the European Parliame

nt are broadly in line with expectations. Although pro-European Union parties have won a majori

ty of the seats, the EP is more fragmented than before with traditional center-right and center-left par

ties losing seats to Liberals and Greens, and Euroskeptic parties increasing their vote share. This is likely to

make it more difficult for the EU to agree new trade deals and choose new leaders for EU institutions.

The heads of government of EU states met on Tuesday to discuss who will fill the top jobs.

The new EP and the EU leadership face a difficult international environment, especially on th

e trade front. The United States administration, already engaged in a tariff war with China, has its sights on the

EU as well, describing the bloc as “a foe”. The US has imposed 25 percent tariffs on European steel and aluminum an

d threatened to slap similar tariffs on European cars unless the EU opens up its agricultural market.

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Speaking at a regular news conference, Lu said the US sid

de has made various remarks about trade negotiations, with some saying the agreement w

ill come out soon while others saying it’s still difficult to reach an agreement, from time to time.

China’s position has been consistent, Lu said. “The trade frictions should be resolved through friendly con

sultations and negotiations, which must be based on mutual respect, equality and mutual benefit,” he added.

SOUTHAMPTON, England – Nigel Farage’s Brexit Party was se

t to storm to victory in a European election, riding a wave of anger at the failure of Prime Min

ister Theresa May to take the United Kingdom out of the European Union, early results showed.

The country’s two main parties, May’s Conservatives and the opposition Labour Party, hemorrhaged support while sm

aller pro-EU parties did well: the Liberal Democrats were in second place, according to a BBC projection.

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“It looks like it’s going to be a big win for the Brexit

Party,” Farage told reporters in Southampton in southern E

ngland where vote tallies from across the southeast region were being collated.

“The intelligence I get is that the Brexit party is doing pretty well,” sa

id Farage, who headed one of the two Brexit campaigns in the 2016 referendum.

While May was forced to delay Brexit after agreeing a deal that the British parliament and much of her party reject

ed, the Labour Party has voiced both support for another referendum and a promise to honour the result of the 2016 vote.

The impact of such a severe election drubbing for the major parties is

unclear though potential successors to May are calling for a more decisive Brexit, while L

abour leader Jeremy Corbyn is under pressure to openly support another referendum.

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The US administration’s “America first” policy, repres

ented by its unilateral and protectionist moves, has harmed both countries’ economic interests an

d proved to be a drag on the global economy, as the recent turmoil in the international capital market shows.

Simulation tests of large general equilibrium models show that

both countries’ economic indicators would suffer due to the US tariff hike on $200 billio

n of Chinese goods two weeks ago. For example, China’s GDP could decline by 0.657 percent, manufacturing jobs by 1.02

8 percent, exports by 3.359 percent, and imports by 1.384 percent, while the decrease in the US’ GDP would be 0.004 per

cent, manufacturing jobs 0.652 percent, exports 1.876 percent, and imports 3.883 percent. And global GDP, ma

nufacturing jobs and trade could reduce by 0.123 percent, 0.28 percent and 0.79 percent.

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