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President’s Russia visit eyes global stabilitys talks with his

President Xi Jinping’s upcoming visit to Russia reflects close cooperation between China and Russia,

which is important to maintain the stability of the international community amid rising uncertainties, analysts said.

Xi will make a state visit to Russia from June 5 to 7 and attend the 23rd St. Petersburg

International Economic Forum, Foreign Ministry spokesman Lu Kang announced on Wednesday.

The trip is part of the annual exchange of visits between the two countries’

heads of state, after Russian President Vladimir Putin attended the Second Belt and Road Fo

rum for International Cooperation in Beijing in April and had talks with Xi on the sidelines.

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In a statement on May 16, Huawei said that losing acce

ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm

s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports.

“I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen.

“But clearly, from a corporate perspective, this Department

of Commerce action has created costs and has escalated the uncertainty quite a bit.”

Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in the technology sect

or, Allen said both sides should pursue a playing field of “smart competition and engagement”, in which the

y play by a “common set of rules” that are mainly set by World Trade Organization obligations.

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The strategic guiding role of national development plannin

ng should be leveraged to improve coordination mechanisms

for economic policies such as finance, currency, employment, industry, and regional develop

ment to ensure the nation’s economic development stays within a reasonable range, the statement said.

The meeting highlighted the importance of strengthening innovative cap

abilities as well as opening-up and cooperation in this regard, and called for improving the serv

ices and environment for opening-up and cooperation so that development is promoted through opening-up, inn

ovation is advanced through reforms and win-win results are achieved through cooperation, it said.

Tough and newly emerging problems should be resolved through deepening reforms, the state

ment said, adding that the capability of dealing with challenges and preventing risks should be intensified.

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Data show that over the past two years, about one-thir

ird of the college graduates chose to pursue a post-graduate degree instead of entering the job mark

et, and within six months of graduation more than 90 percent college graduates found employment.

Despite all this, there are still many structural employment problems. Take college graduate

s for example. Many college graduates seek a high-paying job and a majority of them prefer to work in the e

astern region, first-tier cities and large enterprises, which are wishes the employment market can hardly fulfill, esp

ecially because some college graduates don’t possess the skills to meet the market’s demands.

What should be a bigger concern, however, is the possible impact of the Si

no-US trade dispute on the job market. In 2009, the estimated unemployment rate among

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The world’s second-largest economy maintained its fore

eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho

ugh it slightly 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 the Chinese Academy

of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de

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

In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen

t under market pressure as global investors worried about the escalation of trade friction.

Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monday that higher US tariffs on Chin

a’s imports triggered financial market volatility, and this also affected the offshore RMB.

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Local government authorities said the races may disturb g

 Chen Xiang, head of the sports bureau of Qiannan prefecture in Guizhou, t

old the thepaper.cn. It was agreed after meetings with education authorities and parents of stud

ents that the large crowd gathered during dragon boat races will create noise, Chen said.

Therefore, the dragon boat racing activities in the city, previ

ously scheduled on June 5-7, were postponed to June 9-11. Teams participating in the races were cont

acted and told the reason for the delay. They understood the reasons, Chen added.

An official at the sports bureau of Chizhou city, Anhui, said they have received letters and calls f

rom parents of examinees and people, expressing their concerns (that noise generated by dragon boa

t races may disturb students sitting the gaokao). So the bureau decided to postpone the races until June 9-10.

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alwai highly commended China’s achievements in its ref

form and opening-up drive, and said the country’s success has not only brought changes to itself, but als

o has profound and positive influence on the world. Vanuatu firmly honors the one-China policy

and supports the Chinese government in its efforts to realize peaceful national reunification, he added.

oreign investors may get access to more onshore commodity contracts 

China will give foreign investors more access to its commodity futures market as part of it

s continuing efforts to strengthen the real economy, the top securities regulator said on Tuesday.

The move will benefit both overseas and domestic market participants, and

the opening-up of the stock index futures market will also speed up, experts said.

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Foreign investors’ access to onshore stock index futures

“Moreover, as foreign investors’ trading helps boost liquidity in the domestic market and makes the price changes mor

e consistent with international trends, domestic market participants can also better hedge against risks,” he said.

Experts also expect China to open up the stock index futures mark

et to foreign investors, as they have large exposure in t

he A-share market and are therefore in need of this risk management tool.

Foreign investors’ access to onshore stock index futures is an “infrastructure” for fin

ancial market opening-up, without which foreign investors’ passion for Chinese shares may be dampened, said Wa

ng Maobin, investment department chair at the University of International Business and Economics in Beijing.

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Addressing the plenary session of the Fourth Eastern Eco

n Economic Forum in Vladivostok, Russia, in September, Xi called for regional memb

ers to actively align their development strategies and work together for an open regional economy.

Wu Hongwei, a researcher of China-Russia relations at the Chin

ese Academy of Social Sciences, said bilateral cooperation plays a prominent role in guar

anteeing world peace and security at a time when the global situation is clouded by tensions and turmoil.

The two countries share the same position in promoting a mo

re stable and multipolar world, Wu said, adding that they

have sent such signals through supporting and coordinating with each other on international occasions.

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Nearly three years after the United Kingdom voted by per

rcent to 48 percent to leave the EU, it remains a member and its politicians are still argui

ng over how, when or even whether the country will leave the club it joined in 1973.

May quit on Friday, saying it was a matter of deep regret that she had been unable to deliver Brexit and

arguing that the decision of the 2016 referendum should be honoured. That opened up a period of furt

her uncertainty as the Conservatives decide on who will take over as party leader and prime minister.

BBC projections put the Conservatives on around 10 to 12 percent, down fr

om 23 percent in 2014, likely to be one of the party’s worst results in a nationwide election ever.

The Brexit Party was in first place, and was likely to do better than

the UK Independence Party did in 2014, according to BBC projections.

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