I’m excited about the Asian cuisine festival,” said Li Jingy

n, who came to the main venue of the festival on Thursday with four friends.

“We went to Thailand for a vacation last month. The beautiful sunshine and beaches there

are enchanting,” the 54-year-old Beijing native said. “Now, we have a second chance to experience its food.”

Yang Lin, 26, who described herself as a foodie, also went to t

he gala. “I love Korean food most, except for Chi

nese cuisine, and I’m happy that Beijing is holding such a big food exhibition.”

Xu Hejian, a Beijing official in charge of the event, said visitors can see how Asian food i

s made at the venue and sample various cuisines made by more than 200 food enterprises.

Wuyutai Tea is one of the companies.It’s a good opportunity for the younger generati

on to learn more about traditional Chinese delicacies and desserts,” said Chen Huaji, an employee. “Tea is

quite an important element of Chinese culture, and the exhibition offers a stage to show off the essence of Chinese food and Chinese culture.”

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od films. This fact is attested by Chinese films’ soari

ring box office and increasingly impressive performance at major international film

festivals including the Berlin International Film Festival, Cannes Film Festival and Venice Film Festival.

But there is still a wide gap between the Chinese film industry and the Eu

ropean and US movie industries, be it in the art of filmmaking or in the publicity strat

egies and methods. That some Hollywood filmmakers spend nearly half of their budget on publicity and ad

vertising should give Chinese filmmakers some food for thought, especially since some Chinese movies, de

spite being well made and highly rated by movie critics and viewers alike, fail at the box office.

A wine-maker needs to get people to know his wine is good to make his business a success, so do Chinese filmmakers.

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In the 1980s, the share of the US in the world econ

omy was more than 20 percent; in the past four decades, it has steadily

declined to 15 percent. At the same time, China’s share (in purchasing powe

r parity terms) has soared from 5 percent to about 20 percent. While the PPP indicators inflate the

pace of progress, the trend lines do herald a coming structural shift in the world economy.

China can foster the share of developing nations

In the future, the well-being of the advanced economies will de

pend on the rising living standards in less-wealthy nati

ons. And just as US leadership supported the role of the advanced countries in the 20th century world, Ch

ina has the potential to foster the share of emerging and developing countries in the 21st century.

In particular, the China-proposed Belt and Road Initiative can redirect domestic overcapacity and ca

pital for regional infrastructure development to improve trade and relations with Southeast and So

uth Asia, Central Asia, the Middle East and Europe-even across the Americas and Sub-Saharan Africa.

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In the years since, the country has continued to maint

tain a breakneck pace of economic development, which has brought booming economic prosperity.

Unfortunately, it has also brought a deteriorating environment. Seeing heavy smog, for ex

ample, many people feel that a worsening environment will destroy the happiness brought by economic growth.

Since 2012, the new leadership under President Xi Jinping has put forward a series of ecol

ogical ideas. On Sunday, Xi said at the opening ceremony of the exhibition that “green mountains and cle

ar waters are indeed mountains of gold and silver, and environmental improvement means great productivity”.

This idea, dubbed the theory of two mountains, enjoys immense popular support in China.

Xi, who is also general secretary of the Central Committee of the Communist Party o

f China, urged officials at all levels never to sacrifice the environment for economic growth.

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China’s pledges included shortening its negative lis

 for foreign investments, opening up more sectors to foreign busines

ses, guaranteeing fair competition and planning new free-trade zones and ports.

Sourabh Gupta, resident senior fellow at the Washington-based Institute for China-American Studies, specifically praise

d the new Foreign Investment Law-passed in March by China’s national legislature and effective in 2020-which he s

aid is “a farsighted piece of legislation” that “will firmly usher in a new round of reform and opening-up”.

“Strong measures to deal with political, regulatory and administr

ative noncompliance are envisaged. A robust working mechanism to promptly address fo

reign businesses’ complaints is also envisaged,” said Gupta, who believes the prov

isions are a big step in assuring foreign businesses that the playing field is leveled in China.

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It is welcome news to hear that the National People’s

Congress has already taken steps to lay the groundwork” for implementing the new Fo

reign Investment Law, said Gupta, who brought up the possibility of China establishing “an ombudsperson’s desk” in

related government agencies to address foreign businesses’ legal concerns.

Gupta said China’s Foreign Investment Law could be a model for others looking to liberalize their foreign investment regi

mes, as China’s BRI is already delivering capital and know-how to other developing countries.

Overholt said that China’s past opening-up has been “extremely positive” gl

obally, and the BRI is a “very positive” vision that is good for China and the world.

“The key will be the implementation,” he said. “If the implementation is improved, it would be good for everyone.”

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The telecoms leader will also invest $300 million

annually to support academic research on basic science, technology and technological innovation, said Xu Wenwei, Hu

awei’s director of the board and president of the company’s newly established Institute of Strategic Research.

Huawei posted first quarter revenue of 179.7 billion yuan last Monday, a year-on-year growth of 39 percent.A new burst of messa

ging against China has been unleashed again by Australian newspapers and the Four Corners pro

gram of the Australian Broadcasting Corporation, giving the impression that hostile forces are threatening Australia. In Ma

ch, former Australian foreign minister Gareth Evans said, “a new form of Sinophobia is emerging”. He said this is on

e of the reasons Chinese-Australians are under-represented in senior leadership in Australia.

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Oh Ei Sun, a senior fellow at the Singapore Institut

e of International Affairs, noted Xi’s emphasis on high-quality development, free t

rade and people-to-people bonds, “all of which are sorely needed around the world”.

“The shift toward high-quality development is a natural extension of what China has been doing for the past few ye

ars. Now that the BRI is five years old, it’s about time to upgrade quality joint development,” he said.

“China is trying to address the concerns that have been raised sinc

e the last Belt and Road Forum two years ago. One of these concerns is the need for infr

astructure projects to be more responsive to the local circumstances of BRI member countries.”

Duncan Freeman, a research fellow at the EU-China Research Centre at t

he College of Europe in Bruges, Belgium, said infrastructure is important for economic gro

wth, so building infrastructure and building connectivity and efficient infrastructure are important.

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Lu Zhenwang, CEO of Shanghai-based Wanqing Consul

ltancy, said: “The lawsuit against Liu will bring damages to the image and reputation of JD, hav

e an impact on investors’ confidence, and cause fluctuations in its share price. Moreover, emp

loyees’ trust in the company may also be affected as the Beijing-based tech heavyweight is laying off staff to cut costs.”

Shen Meng, director of boutique investment bank Chanson & Co, said Liu’s case won’t chan

ge his actual control over JD, which is now making some innovations to reassure investors. Liu owns

15.8 percent of JD’s stock and controls nearly 80 percent of the company’s voting rights.

Liu was detained in Minneapolis, Minnesota, on suspicion of criminal sexual c

onduct on Aug 31 and later released without charge or bail. He returned to China on Sept 3.

In December, Hennepin County Attorney’s Office, the prosecutorial office handling the case announced that no sexual as

sault charges would be brought against Liu as prosecutors could not prove his guilt beyond reasonable doubt.

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Leaders would assess the situation again when they me

et for a regular summit on June 20-21. Britain could have left by then if May succeeds in bu

ilding a coalition for her deal with the Labour opposition — though there is no sign of agreement yet.

n order to continue as an EU member beyond June, May has agreed to organize British elections to

the European Parliament, though it is still unclear if that vote will go ahead and how far it might t

urn into a virtual second referendum on EU membership that some hope could mean Britain cancelling Brexit.

The other 27 had all but ruled out pitching Britain, and parts of the EU economy, into

chaos on Friday. But a drive by Macron to keep London on a tight leash saw the emergency summit bogged d

own in late-night wrangling as German Chancellor Angela Merkel and others argued the merits of a longer lag.

As at a summit last month, which put back Brexit for two weeks, several EU diplomats said May failed to persuade her peer

s that she could definitely break the paralysis of repeated failures to ratify the treaty within the coming months.

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