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WORLD RENOWNED ARCHITECT PASSES AWAY
Renowned Chinese-born architect Ieoh Ming Pei， popularly known as I. M. Pei， died on May 16 at age 102.
Pei’s modern designs and high-profile projects made him one of the most prominent architects of the 20th century.
Pei was born in Guangzhou， south China’s Guangdong Province， and raised in Hong Kong and Shanghai before moving to the United States in 1935. He studied architecture at the Massachusetts Institute of Technology and Harvard University.
Since the 1940s， he was the mastermind behind a wide variety of famous buildings including the glass pyramid at the Louvre in Paris， the Bank of China skyscraper in Hong Kong and the John F. Kennedy Memorial Library in Boston.
Pei won the Pritzker Architecture Prize， known as the Nobel Prize of architecture， in 1983.
The Committee of 100 （C100）， a premier U.S. organization of ChineseAmerican leaders from different fields， issued a statement on May 16， mourning the passing of the acclaimed architect， who was also a co-founder of the C100.
Night Economy
Guancha.gmw.cn May 15
The night economy refers to a category of economic activities that occur from 6：00 p.m. to 6：00 a.m. that include dining， nightlife， arts， music， theater， entertainment， festivals， events， activities and tourist attractions. It has become a new driving force for consumption and contributed to economic transformation and upgrading. According to Ministry of Commerce statistics， over two thirds of catering industry sales in southwest China’s Chongqing Municipality take place at night and 55 percent of service industry sales in Guangzhou， south China’s Guangdong Province， come from the night economy.
However， China’s night economy lags behind many other countries， with a gap in the development of the night economy among dif- ferent regions of the country. First- and secondtier cities see a prospering night economy whereas it is still at a preliminary stage of development in third- and fourth-tier cities.
To develop the night economy， service industries such as catering， entertainment， leisure and tourism should be boosted to provide more comfortable experiences for consumers.
According to Beijing’s government work report in 2019， the city will unveil measures to promote the night economy in order to boost consumption. It is encouraging shopping malls， supermarkets and convenience stores in major commercial districts to extend their hours of operation. Other cities like Tianjin， Chengdu and Qingdao have all come up with similar policies. The development of the night economy requires the guidance of the government and participation of various market entities. In addition， the government should provide a guarantee of public security at night to clear obstacles for the night economy.
Stabilizing Employment
Outlook Weekly May 20
Employment in China remained stable in the first quarter of 2019， with 3.24 million newly added urban jobs registered， completing 29 percent of the yearly target.
Multiple factors have contributed to stable employment. The emergence of new industries and business models such as big data， artifi cial intelligence and the Internet of Things have created new job opportunities， especially for college graduates whose number is expected to reach 8.34 million this year.
An increasing number of migrant workers have returned to their hometowns to fi nd jobs or start their own businesses under government preferential policies， which increased employment in rural areas. Moreover， the home service industry has developed rapidly and become a driver for employment as a result of the changed birth policy and the increasingly serious aging problem.
However， China still faces huge employment pressure. On the one hand， the number of working-age people is large， with an average of over 15 million new members being added to the labor force every year in urban areas till 2020. On the other hand， the structural problems of employment are still prominent. For instance， some college graduates lack the skills required by certain jobs.
In order to stabilize employment， the government should offer better services to college graduates by providing them with job information and giving them guidance on seeking jobs or starting their own businesses.
Enterprises have a crucial role in stabilizing employment. The government should reduce the social insurance contribution rate of enterprises and give subsidies to enterprises that absorb workers having difficulty finding employment. It should also support the growth of emerging industries to create more job opportunities.
Professional skills training should be strengthened by providing more government funding and expanding the enrollment of vocational schools to solve the structural problem of employment.
Electronic Products Aiding Education
People’s Daily May 16
Whether children should use electronic products is a question of concern for many parents. According to a survey， 60 percent of teenagers think their friends are addicted to smartphones and 33 percent would rather communicate with their friends online than meet them face to face.
A healthy body and sound brain are the basis for innovative talent. Unfortunately， excessive use of electronic products may lead to memory degradation， headaches and sleep disorders in children. The fragmented information and short videos which bombard children every day may affect their ability to think independently， while easy access to information may damage their desire to explore， as curiosity and the desire to learn are the essential qualities for innovative people. Moreover， as many children are used to social networking online， they may become shy in real life and lose the ability to participate in teamwork， which is an important quality today.
However， as every coin has two sides， the Internet also has its bright side. It has transcended geographical restrictions to enable children anywhere to access the best educational resources. All kinds of homework apps have also increased interactions between students and teachers online.
Schools and parents should therefore give proper guidance to children in using electronic products in order for them to be useful study aids.
FORMER TOP SECURITIES REGULATOR SURRENDERS
Liu Shiyu， China’s former top securities regulator， has surrendered to anti-corruption authorities， according to the Central Commission for Discipline Inspection （CCDI）.
He is cooperating with the CCDI and the National Commission of Supervision in the investigation of suspected violations of disciplines and laws， the CCDI said in a statement on its website on May 19.
Liu， born in 1961 in east China’s Jiangsu Province， was the second ministeriallevel offi cial to surrender to anti-corruption authorities since the 18th National Congress of the Communist Party of China in 2012.
He served as assistant to the governor of the People’s Bank of China， vice governor of the People’s Bank of China and chairman of the Agricultural Bank of China. In 2016， he was appointed head of the China Securities Regulatory Commission.
Liu was replaced by Yi Huiman， former Chairman of the Industrial and Commercial Bank of China.
“China objects to the generalization of the national security concept and the crackdown on regulation-abiding Chinese firms.”
Gao Feng， Ministry of Commerce spokesman on May 23， urging the U.S. to halt its actions and create conditions for normal trade and cooperation between enterprises in the two countries “Why is investment from any other part of the world a good thing， but from China， it turns evil？”
Asad Umar， Chairman of Pakistan’s National Assembly Standing Committee on Finance， questioning the double standard of certain countries on investment and rebutting the “debt trap” allegations in a recent interview with Xinhua News Agency
“The commitment of European businesses to the Chinese market in spite of challenges from trade tensions has shown the importance of China in the strategies of many companies.”
Denis Depoux， head of Roland Berger Asia， in response to the European Business in China Business Confidence Survey 2019 released by the European Union Chamber of Commerce in China on May 20
“As a matter of fact， although the U.S. has been threatening to raise tariffs on Chinese products for more than a year， foreign investors’ enthusiasm in China remains high， and they are still optimistic about the Chinese market.”
Foreign Ministry spokesperson Lu Kang， in response to a question about U.S. President Donald Trump’s claim that tariffs on Chinese goods were causing companies to move production out of China to other countries ， at a news briefing on May 21
Renowned Chinese-born architect Ieoh Ming Pei， popularly known as I. M. Pei， died on May 16 at age 102.
Pei’s modern designs and high-profile projects made him one of the most prominent architects of the 20th century.
Pei was born in Guangzhou， south China’s Guangdong Province， and raised in Hong Kong and Shanghai before moving to the United States in 1935. He studied architecture at the Massachusetts Institute of Technology and Harvard University.
Since the 1940s， he was the mastermind behind a wide variety of famous buildings including the glass pyramid at the Louvre in Paris， the Bank of China skyscraper in Hong Kong and the John F. Kennedy Memorial Library in Boston.
Pei won the Pritzker Architecture Prize， known as the Nobel Prize of architecture， in 1983.
The Committee of 100 （C100）， a premier U.S. organization of ChineseAmerican leaders from different fields， issued a statement on May 16， mourning the passing of the acclaimed architect， who was also a co-founder of the C100.
Night Economy
Guancha.gmw.cn May 15
The night economy refers to a category of economic activities that occur from 6：00 p.m. to 6：00 a.m. that include dining， nightlife， arts， music， theater， entertainment， festivals， events， activities and tourist attractions. It has become a new driving force for consumption and contributed to economic transformation and upgrading. According to Ministry of Commerce statistics， over two thirds of catering industry sales in southwest China’s Chongqing Municipality take place at night and 55 percent of service industry sales in Guangzhou， south China’s Guangdong Province， come from the night economy.
However， China’s night economy lags behind many other countries， with a gap in the development of the night economy among dif- ferent regions of the country. First- and secondtier cities see a prospering night economy whereas it is still at a preliminary stage of development in third- and fourth-tier cities.
To develop the night economy， service industries such as catering， entertainment， leisure and tourism should be boosted to provide more comfortable experiences for consumers.
According to Beijing’s government work report in 2019， the city will unveil measures to promote the night economy in order to boost consumption. It is encouraging shopping malls， supermarkets and convenience stores in major commercial districts to extend their hours of operation. Other cities like Tianjin， Chengdu and Qingdao have all come up with similar policies. The development of the night economy requires the guidance of the government and participation of various market entities. In addition， the government should provide a guarantee of public security at night to clear obstacles for the night economy.
Stabilizing Employment
Outlook Weekly May 20
Employment in China remained stable in the first quarter of 2019， with 3.24 million newly added urban jobs registered， completing 29 percent of the yearly target.
Multiple factors have contributed to stable employment. The emergence of new industries and business models such as big data， artifi cial intelligence and the Internet of Things have created new job opportunities， especially for college graduates whose number is expected to reach 8.34 million this year.
An increasing number of migrant workers have returned to their hometowns to fi nd jobs or start their own businesses under government preferential policies， which increased employment in rural areas. Moreover， the home service industry has developed rapidly and become a driver for employment as a result of the changed birth policy and the increasingly serious aging problem.
However， China still faces huge employment pressure. On the one hand， the number of working-age people is large， with an average of over 15 million new members being added to the labor force every year in urban areas till 2020. On the other hand， the structural problems of employment are still prominent. For instance， some college graduates lack the skills required by certain jobs.
In order to stabilize employment， the government should offer better services to college graduates by providing them with job information and giving them guidance on seeking jobs or starting their own businesses.
Enterprises have a crucial role in stabilizing employment. The government should reduce the social insurance contribution rate of enterprises and give subsidies to enterprises that absorb workers having difficulty finding employment. It should also support the growth of emerging industries to create more job opportunities.
Professional skills training should be strengthened by providing more government funding and expanding the enrollment of vocational schools to solve the structural problem of employment.
Electronic Products Aiding Education
People’s Daily May 16
Whether children should use electronic products is a question of concern for many parents. According to a survey， 60 percent of teenagers think their friends are addicted to smartphones and 33 percent would rather communicate with their friends online than meet them face to face.
A healthy body and sound brain are the basis for innovative talent. Unfortunately， excessive use of electronic products may lead to memory degradation， headaches and sleep disorders in children. The fragmented information and short videos which bombard children every day may affect their ability to think independently， while easy access to information may damage their desire to explore， as curiosity and the desire to learn are the essential qualities for innovative people. Moreover， as many children are used to social networking online， they may become shy in real life and lose the ability to participate in teamwork， which is an important quality today.
However， as every coin has two sides， the Internet also has its bright side. It has transcended geographical restrictions to enable children anywhere to access the best educational resources. All kinds of homework apps have also increased interactions between students and teachers online.
Schools and parents should therefore give proper guidance to children in using electronic products in order for them to be useful study aids.
FORMER TOP SECURITIES REGULATOR SURRENDERS
Liu Shiyu， China’s former top securities regulator， has surrendered to anti-corruption authorities， according to the Central Commission for Discipline Inspection （CCDI）.
He is cooperating with the CCDI and the National Commission of Supervision in the investigation of suspected violations of disciplines and laws， the CCDI said in a statement on its website on May 19.
Liu， born in 1961 in east China’s Jiangsu Province， was the second ministeriallevel offi cial to surrender to anti-corruption authorities since the 18th National Congress of the Communist Party of China in 2012.
He served as assistant to the governor of the People’s Bank of China， vice governor of the People’s Bank of China and chairman of the Agricultural Bank of China. In 2016， he was appointed head of the China Securities Regulatory Commission.
Liu was replaced by Yi Huiman， former Chairman of the Industrial and Commercial Bank of China.
“China objects to the generalization of the national security concept and the crackdown on regulation-abiding Chinese firms.”
Gao Feng， Ministry of Commerce spokesman on May 23， urging the U.S. to halt its actions and create conditions for normal trade and cooperation between enterprises in the two countries “Why is investment from any other part of the world a good thing， but from China， it turns evil？”
Asad Umar， Chairman of Pakistan’s National Assembly Standing Committee on Finance， questioning the double standard of certain countries on investment and rebutting the “debt trap” allegations in a recent interview with Xinhua News Agency
“The commitment of European businesses to the Chinese market in spite of challenges from trade tensions has shown the importance of China in the strategies of many companies.”
Denis Depoux， head of Roland Berger Asia， in response to the European Business in China Business Confidence Survey 2019 released by the European Union Chamber of Commerce in China on May 20
“As a matter of fact， although the U.S. has been threatening to raise tariffs on Chinese products for more than a year， foreign investors’ enthusiasm in China remains high， and they are still optimistic about the Chinese market.”
Foreign Ministry spokesperson Lu Kang， in response to a question about U.S. President Donald Trump’s claim that tariffs on Chinese goods were causing companies to move production out of China to other countries ， at a news briefing on May 21