Also on Friday, shortly after the US said it would ban Hu

awei from buying US technology without special approval, Huawei’s chipmaking arm, HiSilicon, said it has long been prepar

ed for the “extreme scenario” of the US blocking access to some components and technologies.

“We have been developing backup products for years in anticipa

tion. … Such efforts can ensure the strategic safety of most of the company’s products and

a continuous supply of most products,” said HiSilicon President He Tingbo in an internal letter.

Foreign Ministry spokesman Lu Kang said at a news conference on F

riday that the development and utilization of 5G depends on global cooperation, and int

erference by the US undermines the principle of fair competition and shows a lack of respect for other countries.

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Zhang Dawei, chief analyst with Centaline Property, sai

id the main reason behind this is the real estate market in some cities is at risk of going out of control, and the land market shows signs of overheating.

China’s house prices continued to stabilize despite slight increa

ses in April, according to the National Bureau of Statistics. Sixty-seven out of the 70 major Chi

nese cities saw an increase in the number of newly built homes that were sold in April.

On a month-on-month basis, new home prices in Dalian and Nanning rose 0.7 percent and 0.9 percent, re

spectively. On a year-on-year basis, new house prices in these cities grew 13.2 percent and 11.5 percent, respectively.

Although excluded from the 70 major Chinese cities surveyed by the N

ational Bureau of Statistics, Foshan and Suzhou also saw a surge in home prices in April.

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Telecom carriers, chipmakers and smartphone vendors

s in China are ready to commercialize 5G. China will directly grant 5G licenses, instead of the previ

ous plan to give several key cities interim 5G licenses, to better time the rollout,” said a source clos

ed to the telecom industry regulator who asked to remain anonymous because public statements are not authorized.

Michael Gao Wenhao, deputy general manager of the 5G industrial products line at ZTE, disclosed at a 5G conference in

Hong Kong on Thursday that “China is likely to start commercial use of 5G nationwide on Oct 1”.

He told China Daily that he got the information from the country’s major telecom operators.

China said earlier that it was considering a pre-commercial launch of 5G this year, follo

wed by large-scale commercialization in 2020. Miao Wei, minister of industry an

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Luckin, a Starbucks rival in China, rises in US stock debut

Shares of Luckin Coffee, a fast-growing rival to Starbucks in China, rose 20 percent in their US stock market debut Friday.

The Chinese company, which opened its first store in Beijing less than two years ago, has 2,370

locations and plans to surpass the 3,700 stores Starbucks has in China by the end of the year.

But unlike Starbucks, Luckin is losing money.

It brought in $125 million in revenue last year, but spent much more than

that on coffee beans, store rent and other costs. Last year, it lost $475 million.

Most of Luckin’s stores are small, have few seats and are used mainly as a place to pick up mobile orders.

It also offers delivery in 30 minutes and promises a refund for delays or spilled drinks.

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one right now. It’s the source of a lot of discussion in

Museums are not only there for enjoyment; they are education, and as such should be free.

While I can appreciate the enormous costs involved in maintainin

g and obtaining collections, let the wealthiest 1 percent of the country pay for it.

The Met in NYC is technically free; they ask you to give what you can afford. But the ide

a of a person or child interested in art not being able to view it because of cost is morally wrong.

Free entrance does not attract people, nor does it encourage them to appreciate it.

Sure, there are exceptions to this, but by and large human beings tend to look up to things that are difficult or costly to access.

A better option is to charge fees for regular visitors but provide free ti

ckets as prizes for high-achieving students and others who are likely to appreciate the reward.

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Many countries along the Belt and Road have high moun

tains, deserts, oceans and a lack of accurate meteorological information. The number o

f meteorological disasters in the regions is more than double the global average, the administration said.

Wei Caiying, deputy general-director of the National Satellite Meteoro

logical Center, said that real-time disaster monitoring by meteorological satellites coul

d provide these countries with a scientific basis for disaster prevention and reduction.

“Weather-related disasters such as typhoons pose a threat to life and property. T

racking their path could help local authorities decide how to proceed with evacuations,” she said.

In addition to real-time monitoring, the China Meteorological Administration set up the Emergency Support Mechanism for int

ernational users of Fengyun satellites last April, which covers disaster prevention and mitigation.

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Another major problem is that the return on equity in the

infrastructure sector is a mere 3 percent while that in the US capital market is about 12 percent. So how can the US attract more private capital to the infr

astructure sector without guaranteeing a return on equity equal to that in the capital market?

US suffering from a financial Dutch disease

The US’ monetary hegemony is itself a big impediment to the reindustria

lization process, which could be viewed as a sort of financial Dutch disease-the apparent causal

relationship between the increase in the economic development of a specific sector and a decline in other sectors. The mor

e heated the US stock market gets, the more serious the Dutch disease will become. And, ironically, the US leader is k

een on strengthening the stock market to showcase his political and economic track record.

Besides, the US administration cannot launch large-scale infrastructure construction projects, significantly redu

ce the trade deficit with China and deny Chinese investors access to its market all at the same time.

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hina formally arrests two Canadians over security concerns

China has formally arrested two Canadians who have been detained in December

last year on suspicion of endangering national security, Foreign Ministry spokesperson Lu Kang said Thursday.

Michael Kovrig, a former Canadian diplomat, has been arrested by Chinese authorities in accordance with the law on susp

icion of prying into state secrets and intelligence for overseas forces, Lu said at a regular news conference.

Michael Spavor, a Canadian businessman based in China, has also been arrested on suspicion of ste

aling and illegally providing state secrets to overseas forces, Lu added.Teenagers’ first exposure to elec

tronic gadgets and online games tends to be at a younger age, said a report released Wednesday.

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Health authorities suggest meditation every dayakes part in

China’s health authorities are advising people to meditate for five

minutes a day with the recent launch of a health knowledge promotion project.

The project has been jointly initiated by the disease prevention and cont

ol and promotion centers under the National Hea

lth Commission, China Health Education Center and All-China Journalists Association.

They advise a “5125” healthy living concept, suggesting people meditate f

ive minutes every day, do physical exercise for one hour every day, master one sport, join

one exercise community, take in at least 12 types of food every day and 25 types of food every week.

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protections made noticeable progress in China last yea

 because of multiple measures, including improved legislation, intensified law enforcement and more international coopera

tion, according to the Report on the Latest Development in IPR Protection and Business Environment in China.

Law enforcement authorities in China handled 215,000 cases involvin

g counterfeit products last year, including 77,000 cases involving patent infr

ingement, said Gan Lin, vice-minister of the State Administration for Market Regulation.

Courts across China concluded nearly 320,000 IPR cases of various type

s last year, an increase of 41.6 percent over the prev

ious year. More than 5,600 criminal suspects involved in IPR infringement were arrested last year, Jin said.

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