Nation remains on the right track of maintaining gro

The National Bureau of Statistics reported last week that China’s top-line GDP growth rate

in the first quarter was 6.4 percent, at the upper end of the government’s target of 6 to 6.5 percent grow

th for 2019. This faster-than-expected growth gives policymakers some breathing room to continue a stable mone

tary policy and to implement fiscal policies aimed b

oth at transforming the economy and at reducing the risks of accumulated debt.

Chinese policymakers are dealing with the hard dilemma of simultaneously transformi

ng the long-term nature of the economy while avoiding short-term inflation or recession. To transform the econo

my, the nation needs to continue to reduce outstanding debt levels and shift from overcapacity heavy and extractive indu

stries to a more innovative, consumer-focused economy. The danger is that moving too fast in that direction coul

d throw lots of people out of work or cause the financial collapse of companies.

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This quarter’s data show that China is avoiding this

The consumer inflation rate was 1.8 percent year-on-year and produce

r prices went up only 0.2 percent. A standard rule of thumb used by central bankers wor

ldwide is that the inflation rate should be targeted at about 2 percent per year

. This rule is actually built in to the mandate of the European Central Bank. So, the stable monetary policy of the Peop

le’s Bank of China, the nation’s central bank, is working.

The March unemployment rate in urban areas was 5.

2 percent, slightly below the level last year. Most economists define “full employ

ment” as anything below 6 percent, so we are not seeing significant pro

blematic unemployment even during a period of major economic transformation.

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Beijing to enlarge collaborative outreachcorations are pre

Beijing’s municipal government has built bridges between Chinese co

mpanies and countries associated with the Belt and Roa

d Initiative in recent years and plans to enlarge its communication in more fields in the future.

Xiong Jiuling, head of Beijing’s Foreign Affairs Office, said the capital w

ill make greater efforts in nongovernmental exchange programs this year by enh

ancing cooperation in commerce, technology, culture, education and urban management with other nations.

“We will employ better arrangements and methods to coordinat

e different departments to realize our target without increasing government spending,” she said.

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According to the office, more than 100 social ins

titutions, companies and colleges in Beijing, including the Beijing sub-council of the China Council for the Promotion of Inte

rnational Trade, Beijing Enterprises Group Real-Estate Co and the Beijing Forestry University have participated in nong

overnmental exchange projects in countries such as Cambodia, Mongolia, Myanmar and Nepal.

Generally, those Belt and Road projects involve such fields as business cooperation, cultura

l exchanges, protection of women and children, charity, environmental protection and responses to natural disasters.

In 2018, Beijing and Phnom Penh, Cambodia, became sister cities.

Beijing Enterprises Group has been working on a Sino-Camb

odian special economic zone which is planned to be built as a new industrial city.

Qian Xu, president of the group’s Real-Estate Co, which is in charge of the project, said the company has completed the

regulatory planning process for the special economic zone and will start on infrastructure construction soon.

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Barca has won 26 league titles in Spain, compared to

 33 for Real Madrid. But Barca have won

eight of the last 11 leagues and 10 of the last 15 (all 10 with Messi in the squad).

Earlier in the day, second-placed Atletico Madrid won 1-0 at home over struggling Valladolid to delay Barca’s celebrations.

The only goal of the match came in the 66th minute when Valladolid’s Joaquin Fernandez put the ball into his own net, but

the visitors were convinced they should have had a penalty after Santiago Arias clearly handed the ball in his own area.

Referee Melero Lopez checked with the VAR but decided the handball was accidental.

Athletic Club Bilbao remains seventh after a 1-1 draw at home with Alaves in the Basque derby.

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The Maputo-Katembe Bridge, opened in November after

 four years of construction, is part of the Maputo Bridge and Link Roads project built by CRBC. It is 187 kilometers long and s

erves as an arterial highway that directly links Maputo to the border with South Africa, to the south.

CRBC mainly undertakes contracting, investment and infrastructure pro

jects, including roads, bridges, ports and railways, and has operations stretching ac

ross more than 60 countries and regions in Asia, Africa, Europe and the Americas.

“China Road and Bridge Corporation has a wealth of experience in building bridges of the highest quality, including many brid

ges in China that presented even tougher challenges than the Maputo-Katembe Bridge,” Wang said.

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The Belt and Road Initiative is now running for a coupl

of years and has achieved success even in Europe, but it is not finished yet and it should be a win-wi

n situation for China and Europe. China is a very big market and an important global player.

China is Germany’s biggest trading partner, so I think there will be a good future for the two countries.

The Belt and Road Initiative has been a very successful integration proj

ect which is bringing China closer to the world. President Xi Jinping’s speech today is outli

ning that more and more countries can participate, share prosperity, as well as win-win results.

I think that the future will be bright and that especially t

he West needs to better understand what this Belt and Road Initia

tive means and why this shared prosperity can be created and benefit people across the world.aime Irachande Gouv

eia, coordinator of Belt and Road Initiative Research Center at University Eduardo Mondlane, Mozambiqu

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By now, China Railway Express (Chengdu) has linked

overseas cities and 14 Chinese cities. It has seven international railway ch

annels and five international rail-sea combined channels to further open up the city.

Six years ago, when the initiative was put forward, Chengdu opened the first direct freight railway to reach L

odz in Poland, bridging a gap to link to Europe. Through the logistics channel, the products and servic

es from Chengdu were exported to meet the demands of countries and regions involved in the initiative. It beca

me an important platform for Chinese companies to go global and for foreign capital to be introduced.

For example, China Railway Express-Skyworth Express, with 41 full containers of televisio

ns and accessories, left Chengdu International Railway Port to reach Europe in March.

The express provided a more convenient channel for Shenzhen-ba

sed television manufacturer Skyworth Group to enter overseas markets.

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Wang Zhiguo, chairman and president of Shenzhen

 Skyworth-RGB Electronic, a subsidiary of Skyworth Group, said the express helped reduce logistics time by more than 66 percent.

Enticed by the growing influence of China Railway Express on China-Europe trade, more compa

nies have signed agreements with Chengdu to conduct import-export logistics and production capacity coop

eration with Europe. They’ve also reached cooperative intention with local companies in bonded processing and logistics.

That includes electronics giant TCL Corp, Lenovo Group, the world’s

largest manufacturer of personal computers, and AVIC Chengdu Aircraft Industrial Co Ltd.

The production of Skyworth, TCL and electronics company Dell in Chengdu also saw significant growth.

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Thanks to Chengdu’s geographical advantages with

regard to the Belt and Road Initiative, local companies have linked to global markets more frequently. Companies that

used to lack the confidence to go global began taking the step. Companies that have had export business for years upg

raded their product structure and expanded their business to production capacity cooperation and technological export.

Chengdu Xinzhu Road and Bridge Machinery is a prime ex

ample. The company was founded as an infrastructure company, and its business has exp

anded to include new energy and railway traffic. In September 2018, the company’s production base at the China-Bela

rus Industrial Park in Minsk was launched to produce super capacitors used in buses. They’re the first high-tech manu

facturer to begin operation in the park. Before that, the company mainly exported parts used in roads and bridges’ construction.

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