Paula Polito, client strategy officer at UBS global wealth

 management, said they are seeing high levels of cash globally. But she also stressed that, alth

ough it increases liquidity, cash may not necessarily be a safe strategy in the long run.

Faced with many uncertainties, including downward pressure on China’s economy and escalating trade fricti

on between China and the United States, 36 percent of the 465 Chinese high net worth ind

ividuals – those with average personal wealth of at least 10 million yuan ($1.45 million) – polled by the Hurun Research In

stitute said that the focus of their investment strategy will be to “avoid risks” this year, mainly by increasing

asset allocation to fixed income products, gold, bank deposits and currency products in the next three years.

Mark Haefele, chief investment officer at UBS global wealth management, said that investors sometimes focus too much on th

eir home region. “Diversification is still the best way to access opportunities and sidestep domestic risks,” he said.

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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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tinue to purchase China-made goods if there are no substitut

Research released by the International Monetary Fund on Friday showed that some of these tariffs hav

e been passed on to US consumers, while others have been absorbed by importers leading to lower profit margins.

US restrictions on high-tech exports to China will push up Washington’s trade deficit with China, an

d rising prices could also reverse the low inflation in the US. Meanwhile, any speculative trading on the

Chinese currency amid its depreciation pressure will “inevitably suffer from a huge loss”, Guo said in his speech.

To eliminate bad outcomes from trade tensions, further opening-up in China’s services sec

tor, together with high-tech development supported by artificial intelligence, will help lift Chinese eco

nomic growth from 6.3 percent to around 7 percent by 2035, said Zhu Min, a former deputy managing director at the IMF.

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To make up for the increasing savings gap, the US need

eds to introduce and use more foreign capital, which will further enlarge

the trade deficit. Therefore, the US cannot simultaneously maintain a high growth r

ate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.

What is really questionable is that, despite its contempt for over-regu

lation of the economy, the US administration has been trying to impose regulations on int

ernational trade, even for its trade partners’ domestic economic management.

Results for US may be unsatisfactory

The US administration’s more often than not conflicting goals have

resulted in the trade conflicts with China and other countries. For instance, China’s exports to t

he US grew 11.3 percent and its trade surplus with the US increased to $323 billion in 2018, up 17.3 percent year-on-year.

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As a result, it is paramount to use new technologies and

international cooperation to jointly tackle these natural disaster risks, protect ecological security and achieve sustainable development,” Bai said.

The academy will continue to collaborate with foreign partners to create new platform

s and mechanisms to improve disaster management and ecological protection, he added.

Mami Mizutori, head of the UN Office for Disaster Risk Reduction, said in a video speech that th

e scale and reach of the world’s largest infrastructure initiative will impact billions of people and reshape the ph

ysical world, and countries should be mindful of these projects’ impact on the environment and inhabitants.

“It is encouraging that the government of China is taking proac­tive measures to ensu

re that the development of the Belt and Road Initiative is risk-informed and sustainable,” she added.

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Meanwhile, China is willing to jointly promote the mo

nitoring and evaluation of Arctic climate and environmental changes, develop platforms for po

lar scientific research, and promote the sharing of Arctic observation data and international work pr

ojects, Wang said during the Arctic Circle China Forum in Shanghai on Friday.

“We look forward to working with other countries to smooth the economic channel that conn

ects the European and American continents through the Arctic Ocean and jointly create a ‘Polar Silk Roa

d’ to facilitate connectivity and sustainable economic and social development of the Arctic,” he said.

Wang said that Arctic affairs, especially those regarding climate c

hange, environmental protection, scientific research and the use of waterways, are closel

y related to the well-being of people living in the polar region and the survival and development of all humankind.

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Pam Marsden, head of production for Sony Pictures Anim

mation, also considers characterization as a crucial element to developing successful animated works.

The studio’s 2018 smash hit Spider-Man: Into the Spider-Verse won a string of awards, including the 91st Os

cars’ best animated feature, thanks to its unique look that combines computer animation and traditional hand-drawn techniques.

Speaking of developing a formula for making hit movies, Marsden says: “It begin

s with characters. If you can create a character that is beloved, charming and appealing, and touches the hearts of an audie

nce, you are well on your way to creating a successful animated movie that can cross all borders.”

If Hollywood’s experience leads it to focus primarily on the characters they create, Japanese director Hay

ato Date says he believes that voice-over dialogue is another important factor affecting the success of any animated work.

Best known for the manga-adapted animated TV series Naruto and Naruto: Shippuden, Date r

eveals that he has developed a particular method which gathers all the voice artists together to record the scenes.

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The market potential remains huge,” said Dai Bin, direct

or of the China Tourism Academy. “Compared to the United States, w

here 48 percent of its citizens hold a passport, the figure in China is only around 10 perce

nt. It’s estimated that the number of Chinese outbound travelers will reach 230 million in 2030.”

A report published by major Chinese travel agency Ctrip showed th

at 160 million Chinese people have travel plans during the upcoming four-day May Day hol

iday. Thailand, Japan, Vietnam, Taiwan and Indonesia are the top destinations outside the mainland.

Malaysia, which receives around 10 million Chinese tourists annually, began to i

ssue e-visas for Chinese in 2017. “The number of visa stickers on passports of Chinese na

tionals dropped by 70 percent in the first year after the service was introduced, showing its high popularity,” said Han.

Since last year, countries including Australia, New Zealand, Singapore, Turkey, Thailand and Sri Lanka have starte

d to accept visa application documents online and issue e-visas, either a bar code or QR code.

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If visas become a bar code or QR code emailed to

applicants, their workload will be greatly lessened,” he said during the Shanghai World Travel Fair on Thursday.

Japan Tourism Agency data showed that 8.38 million tourists from the Chinese mainland traveled to Japan in 2018, repre

senting year-on-year growth of 13.9 percent and contributing nearly 27 percent of international tourists.

China has been the world’s largest source of tourists since 2014, reac

hing nearly 150 million last year, according the Ministry of Culture and Tourism.

“The market potential remains huge,” said Dai Bin, director of the China Tourism Academy. “Compared to the United S

tates, where 48 percent of its citizens hold a passport, the figure in China is only around 10 percent. It’s estim

ated that the number of Chinese outbound travelers will reach 230 million in 2030.”

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Shaorong, vice-general manager of Qinzhou Nixing Po

He told China Daily his company’s priority is to attract more peo

ple, especially non-locals, to visit and boost sales, as local consumption has limited potent

ial. The company is eyeing more business opportunities based on word-of-mouth among visitors, Long said.

This “one-stop industrial tourism”, as Long calls it, has contrib

uted more than 60 percent in total sales since his company started to feel out the market in 2005.

Long witnessed the company transform from a State-owned enterprise to a market-orient

ed limited company at the turn of century. By streamlining internal bodies and lifting the proportion of em

ployees involved in production while promoting its products via culture and tourism, costs can be cut, according to Long.

Now, he added, the annual production value of the company has reached 10 million yuan ($1.5 million).

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