Balancing growth with structural reformting perform

After a disappointing performance in 2018, China’s economy appears to be stabiliz

ing. In the first quarter of 2019, GDP growth, at 6.4 percent year-on-year, matched that of the previous quarter. But grow

th in industrial production exceeded expectations, expanding by 6.5 percent year-on-year (and by 8.5 percent in Mar

ch). Even exports growth was positive, albeit weak, despite the ongoing trade frictions with the United States.

Moreover, fixed-asset investment (FAI) grew by 6.3 percent-0.2 percentage points higher than in the previous quar

ter. Investment in real estate grew the fastest (11.8 percent), followed by manufacturing (4.6 percent) and in

frastructure (4.4 percent). The growth of investment both in real estate and infrastru

cture was stronger not only sequentially, but also year-on-year. As usual, consumption growth was stable.

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Chinese firms ideal partners on Belt and Road Initiative

Firms from China and the UK are ideal partners in many countries along t

he Belt and Road Initiative, a China-Britain Business Council official said in Beijing.

“The UK has taken a very positive view on seizing these opportunit

ies for UK businesses, particularly our banks, our large consultancy firms and our infr

astructure companies,” said Jeff Astle, managing director of China operations at the council.

British expertise in areas of financial services, banking, legal services, consulting services around engineering pro

vides a broad range of opportunities for UK firms to collaborate with Chinese firms in other countries, Astle said.

“We benefit from many English legal jurisdictions in many

of these countries, the English language and our businesses have long history and experiences in these coun

tries. That means we are a great ideal partner for Chinese firms in many of these Belt and Road counties,” said Astle.

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Noting that China has the world’s biggest middle-incom

income population, Xi said that China would open up its market continuously and welcome quality products from around the world.

China does not pursue a trade surplus intentionally, and it would like to import more com

petitive farm products, finished products and services to promote the balance of trade, Xi said.

China will promote greater openness in modern services, manufacturin

g and agriculture, allow foreign capital to hold the controlling share in more areas and buil

d some new free trade pilot zones to further ease market access for foreign capital, he said.

China will speed up making relevant rules and regulat

ions and ensure the implementation of the Foreign Investment Law, Xi said, adding that the cou

ntry will push forward supply-side structural reform through fair competition and international cooperation.

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China is willing to work with New Zealand to enable

their bilateral relations to continue to play a pioneering role in China’s relations with the West, he added.

Xi also called on both sides to step up mutual understanding, trust

and respect each other’s core interests and major concerns with an open, inclusive spirit.

Xi added that China welcomes New Zealand to take part in building the Belt and Road.

He also urged greater bilateral cooperation in international affairs, jointly pro

moting the development of an open world economy and safeguarding multilateralism and the multilateral trading regime.

China has prioritized coping with the challenges of the climate change and is willing to wo

rk with New Zealand to jointly promote the sustainable development of Pacific island countries, he said.

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ao poses with a dog at her brick-and-mortar store in Chen

Zeng Niaoniao, a qipao designer in the post-95s generation, started her business when she was a sophomore in 2015, and now runs stores both online and off.

Last year, the turnover from her online store reached 12 million yuan ($1.78 million)

The 24-year-old designer has a track record on improving qipao, displaying her work at the 2018 Shan

g Fashion Week and attracting Chinese pop idol Yang Chaoyue to wear her design for an advertising photoshoot.

Zeng said her wish was to see people wearing her designs to stroll around town, and sh

e wanted to bring more improveqipao with new designs to young Chinese girls.

May’s offer to quit fails to break Britain’s Brexit stalemate

LONDON – British Prime Minister Theresa May failed to sway hardline opponents of her European Union divorce de

al on Wednesday with an offer to quit, but parliament’s bid to agree an alternative fell short, leaving the Brexit process as deadlocked as ever.

May told her Conservative lawmakers she would step down if her Brexit deal was finally passe

d by parliament at the third attempt, in a last-ditch bid to win over many of her party’s eurosceptic rebels.

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Mikaela Shiffrin extends record run as Marcel Hirscher hints

  She’s ski racing’s undoubted new queen, but Mikaela Shiffrin finished the

slalom season in regal fashion with victory in the final race in Andorra.

  The 24-year-old clinched her 16th win of a record-breaking season

Saturday to take her tally to 59 World Cup titles overall.

  The victory was also her 40th slalom win to equal the record of Swedish great

Ingemar Stenmark, who heads the all-time list with 86 World Cup wins.

  Overall champion Shiffrin, who topped the slalom standings from Slovakia’s P

etra Vlhova and Swiss Wendy Holdener,

is hot favorite to clinch the giant slalom crystal globe Sunday.

  The American has a 97-point lead over Vlhova, with 100 points available to the winner in Andorra.

  Shiffrin, who passed Vreni Schneider’s mark of 14 wins in a season

earlier this month, could become the first skier — mal

e or female — to win the World Cup title in overall, slalom, giant slalom and the

faster super-G discipline in the same season.

  She secured a third straight World Cup overall crown earlier this season and first super-G c

rystal globe to add to a fourth consecutive slalom world title in Sweden last month. She also won super-G gold in Are.

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They of course are the same model of 737 MAX 8 planes,” but G

  It added that a passenger information center and hotline “will be available shortly for family or friends of those who may have been on flight.”

  The Ethiopian government expressed its “deepest condolences to the families,” the office of

Prime Minister Abiy Ahmed, who first broke the news of the crash, said on Twitter.

  The Office of the PM, on behalf of the Government and people of E

thiopia, would like to express it’s deepest condolences to the families of those that hav

e lost their loved ones on Ethiopian Airlines Boeing 737 on regular scheduled flight to Nairobi, Kenya this morning.

  — Office of the Prime Minister – Ethiopia (@PMEthiopia) March 10, 2019

  Ethiopian Airlines has gained the reputation of being one of the best airlines in

Africa. It has a good safety record and the newest fleet of planes on the African continent, according to its website.

  ”Ethiopian Airlines is a very, very well-run airline,” said CNN anchor Richard Quest, who specializes in aviation. “There i

s no safety issue on Ethiopian. They’ve made it their business to be the African airline that operates like a western airline.”

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denounced May’s “disastrous” handling of Brexit, conde

  mned the Conservative Party’s shift to the right and warned it was in danger of being taken over by extremists.

  Their announcement was timed for maximum impact, dropping just before the weekly s

ession of Prime Minister’s Questions. In a move freighted with symbolism, the three ex-Conservative MPs

joined the eight former Labour lawmakers on the opposition benches in Parliament on Wednesday.

  The move could mark the start of a reshaping of British politics as the clock continues to tick down to March 29, when the U

K is due to leave the European Union. With 37 days to go, Parliament has still not approved a Brexit deal.

  In a joint letter to May, Heidi Allen, Anna Soubry and Sarah Wollaston blamed their departure on the government’s “dismal failure to stand up to

the hard line ERG [European research Group],” whose members advocate a no-deal Brexit. The three lawmakers, who have

been vocal anti-Brexit campaigners, said that Britain’s exit from the EU had “re-defined the Conservative Party — undoing all the efforts to modernize it.”

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ending by banks surges in Januaryasures fend off nega

hina’s credit growth surged unexpectedly to a record pace in January, strengthening production in the real econo

my and easing overall downward pressure, People’s Bank of China, the country’s central bank, said on Friday.

Bank lending in domestic currency increased by 3.23 trillion yuan ($476.8 billion) last month, the fastest single-month growth

since the figure was first tracked in 1992. It increased by 2.9 trillion yuan in January 2018, the bank said.

Total social financing, a broader measure comprising all money the real economy receives from the fi

nancial sector, including off-balance-sheet financing activities, rose by 4.64 trillion yuan in Ja

nuary, which was also the fastest monthly growth ever, according to the central bank.

The month’s rapid credit growth was a result of a series of precauti

onary measures to ease the negative effects of slowing domestic demand and external h

eadwinds, according to Sun Guofeng, head of the bank’s monetary policy department, at a news conference.

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Talks can produce fresh progress toward a dea ina Daily editorial

It is encouraging that after the deputy-level meetings on Monday and Tuesday

to work out the technical details for an agr

eement — including a mechanism for enforcing any deal — the face-to-face discussions being conducted between d

ecision-makers from both countries are being held amid a general air of optimism.

The negotiations are being led by Chinese Vice-Premier Liu He and US Trade Representative Robert Lighthizer and US Treasury Secr

etary Steven Mnuchin, whose cordial discussions in Washington on Jan 30 and 31 raised hopes that the two s

ides are genuinely doing their utmost to reach an agreement ahead of the March 1 deadline when US tariffs on $

200 billion worth of imports from China are set to rise to 25 percent from 10 percent.

But there are still obstacles to be overcome, and no one should underestimate how daunting a task the two s

ides face trying to resolve all the differences that have long existed between them in one clean sweep.

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