ntry’s rare earth resources, and the environmental pro

ironmental protection measures the company takes in production.

Only when a company has independent intellectual property rights and core technology

will it make competitive products and succeed amid fierce competition, Xi said.

Noting that technological innovation is the lifeblood of enterprises, Xi encourag

ed the company to focus on technological innovation and master more core technologies.

Rare earth is a non-renewable important strategic resource, Xi said, addin

g that more efforts are needed to upgrade the technology for its exploitation and applic

ation, increase its added value, and protect the environment, to achieve green and sustainable development.

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Ministry: Foreign firms won’t disregard own interests

Enterprises in any country will not disregard their own interests and blindly follow other cou

ntries’ “political command”, Foreign Ministry spokesman Lu Kang said on Thursday, after comp

anies confirmed cooperation with Chinese telecommunications equipment maker Huawei will continue.

Panasonic made a “solemn statement” on Thursday that it is supplying Huawei normally, rebukin

g reports that it will cut parts of the component supply. British Telecom, parent group of telecom oper

ator EE, said on Wednesday Huawei will continue to supply their 5G radio network infrastructure, Xinhua reported.

China hopes that the US can take a serious attitude about going back to the negotiating table and ensure that negotiations are meaningful, said Lu.

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It was in the European Parliament elections five years

ago that small numbers of nationalists and far-right politicians won seats, signaling the challenges since faced by ruling parties acr

oss the EU, said Cui Hongjian, director of the department for European studies at the China Institute of International Studies.

Mainstream European political groups have tried hard to curb their

rise and haven’t coped well with problems raised by the populist and far-right parties, Cui said.

Clemens von Goetze, Germany’s ambassador to China, said at a news conference

in Beijing on Saturday that he hopes mainstream political groups that support the integration of EU will win the elections.

He said, mainstream groups in Germany are working hard to tell voters the importance of the EU and encouraging those realize the value of EU integration to

cast their ballots this week. The turnout of voters was quite low in the 2014 European Parliament elections.

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ent capturing the signals that were eventually translated int

ed into the image detected wavelengths of 1.3 millimeters, and there was no corresponding equipment in China.

But Tianma, part of EAVN, together with telescopes in the Republic of Korea and Japan, h

ad been making observations at wavelengths of 7 and 13 millimeters for a long time, Shen said.

“EHT could capture the image without assistance of the network but the supporting observations provided supplement

al information and showed consistency with the EHT observations to better verify their accuracy,” Shen said.

“The job of the network was included in one of the six papers about the res

earch published by The Astrophysical Journal Letters in the United States,” he added.

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urged to avoid more damage to China tiesonly

Beijing urged Washington on Saturday “not to go too far” in harming China’s interest

s, and called for it to change course to avoid further damaging bilateral ties.

China firmly opposes the United States’ recent remarks and actions that harmed China’s interests, in

cluding its resorting to political means to suppress normal operations of Chinese companies, State Coun

cilor and Foreign Minister Wang Yi said in a phone call with US Secretary of State Mike Pompeo.

History and reality show that China and the US both benefit f

rom cooperating with each other, while both suffer from bilate

ral conflicts, and cooperation is the only proper choice for the two major countries, Wang said.

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The move fully demonstrates Beijing’s firm determinati

on to defend its due interests and legitimate rights in international trade and economic cooperation, according to analysts.

The US has totally ignored the fact that China has been eager to resolve trade and economic issues through high-level official ta

lks and pledged to further expand market access for global businesses, said Liang Ming, a senior resea

rcher at the Chinese Academy of International Trade and Economic Cooperation.

China has emphasized that the US should not use the tariff method. That is not just for China’s benefit; it is the rational choice a

ny country would make when facing unreasonable requests in trade, said Dong Yan, director of the inte

rnational trade office at the Institute of World Economics and Politics under the Chinese Academy of Social Sciences.

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China has also recently announced a strengthened reg

gime of intellectual property rights protection. Again, this is what foreign negotiat

ors are seeking, but also is important for China’s own economy as it transitions to being a technology leader.

Trade agreements can affect the types of goods being traded and they can redirect trade toward one c

ountry, away from others. They cannot directly affect any country’s worldwide current account bal

ance. A country that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gov

ernment system to encourage increased savings. China has almost nothing to do with it.

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by US-China trade worries. Moreover, smaller rival Lyft Inc’s s

hares plunged this week after its first earnings as a public company.

Uber was the biggest of a group of Silicon Valley startups that have spent ye

ars raising money in private rounds at record prices. Many of these companies are

now looking to follow with their own IPO. Some, like Uber and Lyft, are unprofitable.

Workplace messaging company Slack Technologies Inc plans to hold an investor presentation on Monday in adv

ance of its direct listing next month. Grocery and food delivery platform Postmates, WeWork owner The We Co

mpany and online mattress retailer Casper Sleep are among startups seeking to launch IPOs this year.

“If a venture capital investor wants to burn cash they can do that as long as they want, but on

ce you get to the public markets you have to show profitability or a path to it,” said Jordan Stuart, a por

tfolio manager at Federated Kaufmann who often purchases companies’ shares during an IPO.

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Rich Chinese parents also caught up in college admissions scandal

Paying millions of dollars to secure their children a spot at an elite college may

sound absurd to many parents, but some are willing to do this.

Nicole Shen, the Chinese mother of a high school student in Palo Alto, California, said she would be wi

lling to pay a pretty penny upfront to get her daughter admitted to a top-tier university if she could afford it. “As long as eve

rything is legal,” she added.Zhao, 52, was introduced to William “Rick” Singer, a college consultant in California and the mast

ermind behind the scandal, by Michael Wu, who worked as an adviser at the Los Angeles area branch of in

vestment bank Morgan Stanley, according to the Los Angeles Times. Wu has since been fired.

Two wealthy Chinese families have recently been in the spotlight and t

he subject of widespread discussion after media reports showed they paid huge am

ounts in a high-profile college admissions scandal. The sums they paid dwarfed the typical amount footed by US parents.

The highest-known payoff to date is the $6.5 million by billionaire Zhao Tao, president and co-founder of Shandong Buchang Pharmaceuticals Co.

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The regulation also called for stricter implementation

 of programs and compliance oversight to ensure that the required funds of investment programs are in place on time.

The approval mechanism for government-invested pro

grams will be further standardized, and major programs must go through procedures suc

h as evaluations by intermediary service institutions, the public and experts, as well as risk assessment.

Government investment funds must prioritize investments into areas where the market cannot effectively allocate res

ources, such social services, public infrastructure and environment protection, the regulation said.

It also calls for equal treatment of various

types of investment entities, adding that authorities should not set up biased conditions.

The premier said in his Government Work Report this year that Chi

na will pursue a proactive fiscal policy with greater intensity and enhance its performance.

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