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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administration escalating tariffs and Beijing retaliating.

It is important that we come to an agreement over time that addresses the problems that we have identified. And the sooner the better,” Allen said.

He said the council had opposed the use of tariffs from the very beginning and hop

ed a “mutually acceptable and supportive” agreement could be reached in the near term.

“But, currently, we are moving away from that agreement. We want to get back to moving toward a

n agreement so that our two economies can begin to interact with each other in a more normal manner,” he said.

Allen, who was in Lexington, Kentucky, last week for the Fifth US-China Governors Fo

rum, said he had spoken to a number of Chinese investors in Kentucky and throughout the United St

ates who are bringing jobs and opportunities that did not exist previously.

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A great debate set over tariffs, technologyhorwom

Two television anchorwomen — one from China and one from the US — will debate

two sides of the long-running trade dispute between the two countries.

Liu Xin, a mainstay of the China Global

Television Network, and Trish Regan, a former CNBC busi

ness correspondent who now hosts her

own show on the Fox Business Network, will have at it over i

ssues such as tariffs and technology

Wednesday at 8 pm EDT in the US and simultaneously at 8 am Thursday in China.

The discourse will take place via satellite, as Liu will be in CGTN’s studio in Beijing, while Regan will be at Fox’s studio in New York.

The debate idea came about after the two newswomen clashed earlier this month after Regan said Beijing stole “$600 bill

on worth of intellectual property a year”, leading to the Trump administration tariffs.

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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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RMB’s value determined by market forcesce forex rese

Beijing will not sacrifice forex reserves to defend its currency, analysts say

China would rather rely on market-oriented forces to determine the renminbi’s value than defend its currency by d

ipping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said.

The United States Treasury announced on Wednesday that it could not label China a

s a “currency manipulator” after Washington monitored the recent performance of the RMB.

No evidence was found to show Chinese monetary authority intervention in foreign exchange markets over the past sev

eral months, according to the US Treasury’s semiannual foreign-exchange report to Congress.

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The meeting highlighted the importance of strengthen

 innovative capabilities as well as opening-up and cooperation in this regard, and called for improving the services 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 statement said, adding that the

capability of dealing with challenges and preventing risks should be intensified.

The meeting required Shanxi province, a coal-abundant area in North Ch

ina, to conduct pilot reforms in its energy industry and take the lead in the whole cou

ntry in areas such as promoting clean and low-carbon energy use and enhancing innovatio

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Belt, Road high on China-Niger agendaming ceremoident

China and Niger should enhance Belt and Road cooperation and implemen

t major projects in areas such as infrastructure, energy and agriculture, President Xi Jinp

ing said on Tuesday. Xi made the remark while meeting with Niger’s President Mahamadou Issoufou at the Gre

at Hall of the People in Beijing. Issoufou is paying a state visit to China from Sunday to Thursday.

Witnessed by the two leaders, China and Niger signed a number of cooperation documents after their talks. Xi appre

ciated Issoufou’s efforts in promoting the China-Niger and China-Africa friendship over the past few years. Not

ing that China and Niger are good friends, partners and brothers, Xi said that the two countries have enhanced mu

tual political trust and have achieved fruitful outcomes in practical cooperation in several areas.

China would like to work with Niger to jointly implement the outcomes of the Beijing Summit of the Forum on China-Afri

ca Cooperation, strengthen strategic cooperation and bring more benefits to the people of both countries.

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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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China’s Qomolangma climbing season runs from April 10 t

At least four deaths have been blamed on crowding during the climbs, Agence France-Presse reported.

People should be well prepared to handle Qomolangma’s traffic jams which are common phenomena along climbing paths, said alpinists who had reached the summit.

“Although the news about the jam on Qomolangma this year has gone viral, people should understand that it happens every year during the brief cl

imbing window. Knowing what to do when climbers jam the narrow paths should be incl

uded in their training well in advance,” said Ma Liyamu, who reached the top of Qomolangma, the world’s ta

llest mountain at 8,848 meters, on May 22 and was also held up by the crowds on her descent.

She is the leader of a mountaineering team of three Chinese women w

ho scaled Qomolangma. They launched their expedition from Nepal, which issued 381 cli

mbing permits for the season that concludes this week. Nepal’s permits this season cost $11,000 each.

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Ameesha Chauhan, who is in a hospital in Kathmandu

andu recovering from frostbite she contracted during crowded conditions, told AFP that cli

mbers without basic skills should be barred to prevent a recurrence of this year’s deadly season.

The 29-year-old Indian had to wait 20 minutes to come down from the peak. She saw some clim

bers without basic skills fully relying on their Sherpa guides. Officials should change the qualification cri

teria. Poorly trained climbers put their own lives at risk and also the lives of the Sherpas, Chauhan said.

Some climbers died due to their own negligen

ce. They insisted on reaching the top even when their oxygen was running out, she added.

New European Parliament reflects divided policy options

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