joint venture with registered capital of $241 million.
Chongqing Changan Automobile Co Ltd remains the largest shareholder, with a 50 percent stake.
Ford Asia-Pacific Automobile holdings own 35 percent of company shares, while Ford Motor (China) holds a 15 percent stake.
The share price of Chang’an Motors once plummeted around seven percent on Wednesday morning.
Changan Ford said in a statement later on Wednesday that the company fully respects
and will abide by the decision made by national authorities in the anti-monopoly investigation. The company fu
rther said that it has taken action to standardize regional sales management with dealers.
completed 5G call tests and more than 500,000 commercial 5G base stations are expected to be
built in South China’s Guangdong, North China’s Hebei, East China‘s Zhejiang and Jiangxi, and Central Chi
na’s Hubei provinces and the cities of Shanghai, Harbin, Tianjin, Chongqing and Wuhan in the future, the report said.
“With technologies and products related to the 5G network maturing, the main parts of the 5G ind
ustrial chain, including systems, chips and terminals, are ready for commercial use,” Wen Ku, a
spokesman for the Ministry of Industry and Information Technology, said on Tuesday.
The report said the ministry, having made a general plan fo
r 5G application, is estimated to formally issue 5G licenses at some point this year.
President’s message calls for tackling legal, security, governance challenges
President Xi Jinping called on Sunday for strengthened cooperation among countries to explo
re opportunities of digital, internet-based intelligent development and to properly address le
gal, security and governance challenges arising from big data industry development.
He made the remarks in a congratulatory letter to the China Internati
onal Big Data Industry Expo 2019, which kicked off in Guiyang, Guizhou province.
The new generation of information technology, represented by the internet, big data an
d artificial intelligence, is booming at present and has significant and profound influence on various cou
ntries’ economic development, social progress and people’s lives, Xi said in the letter.
Meeting in Nanchang eyes achieving new advances in development of country’s central region
President Xi Jinping stressed the significance of owning indep
endent intellectual property rights and core technology while visiting a producer of rare
earth, which he hailed as an “important strategic resource”, in Ganzhou, Jiangxi province, on Monday.
Xi, also general secretary of the Communist Party of Chin
a Central Committee and chairman of the Central Military Commission, visited the JL MAG Ra
re-Earth Co immediately after he arrived in Jiangxi for the three-day inspection tour.
At the company, Xi learned about its production and operation, the r
are earth industry’s development in Ganzhou, the development and application of the co
Mainstream political groups will continue to dominate in elections to the European Parli
ament this week but probably will lose some seats to nationalist and far-right parties, analysts predict.
“There is no fear for the solidity of the EU-decision-making system”, said Sven Biscop, director of the Euro
pe in the World Program at the Egmont-Royal Institute for International Relations, a think tank based in Brussels.
But he urged “those who favor the European project” to not be complacent, as the rise of
populist and far-right parties has already become a major concern for the EU and its member states.
About 400 million people from the EU’s 28 member countries – includi
ng for now the United Kingdom – are eligible to vote in polls to be held from Ma
nal savings rate and has to be compensated by other countries’ national savings, which in tu
rn adds to the trade deficit. On the other hand, China’s efficiency in the manufacturing industry makes it a lar
ge exporter of manufactured goods to the US and helps it sustain its high savings rate.
A high growth rate means higher trade deficit for US
Given that the US economy is driven by domestic demand, consumpt
ion in particular, instead of exports, a high rate of ec
onomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a sit
uation, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.
Transformation of traditional industries speeding up, riding wave of high tech
The Chinese economy is poised for more vigorous growth after gathering new strength through upgrad
es in traditional industries and accelerating the growth of high-tech industries and emerging sectors.
The country will further expand market access with a nationally unified, annually released and timely adjusted negative list for m
ore market vitality, according to the National Development and Reform Commission, China’s top economic regulator.
Meng Wei, spokeswoman of the commission, said at a media conference on Fri
day that China has made steady progress in cultivating new momentum and promoting t
Chinese partners in countries involved the Belt and Road Initiative should work together to create a
n ecosystem of a “one-stop shop”, providing diversified services to share in China’s prosperity along the Belt and Road.
President Xi Jinping asked countries to create conditions for other civilizations to develop while keep
ing their own vibrant. His keynote speech at the opening ceremony of the Conference on Dialo
gue of Asian Civilizations on Wednesday has aroused global interest. Here’s what some experts think.
As you know, I work for UNESCO and the general feelin
g I had after President Xi Jinping’s speech was that there were convergences on
many levels between his comments and the work UNESCO does in the world of dialogue among civilizations thro
ughout the world and also the work that we do specifically in relation to the ancient and modern Silk Road.
China said late on Monday that it will increase tariffs on the bulk o
$60 billion of US imports to three categories of rates between 10 percent and 25 percent.
For the rest of the US imports, the duty rate remains at 5 percent, acc
ording to a statement released by the Customs Tariff Commission of the State Council.
The tariffs will hit around 5,000 products such as food, chem
icals and auto parts, and are due to take effect on June 1, the commission said.
In a separate statement on Monday, the commission said i
t will be open to tariff exemption applications for part of qualified US imports.
This is China’s latest response to the additional US tariffs on $200
billion of Chinese goods, which were implemented on Friday morning.
ors that are often crowded with them as well as other items. Should a battery ignite, the fire will spread quickly.