investment in environment-friendly urban mas

 transit. According to NBS preliminary estimates, the share of consumption of clean energy such as natural gas, hydropo

wer, nuclear power and wind power in total energy consumption in the first quarter was 1.5 percentage points hi

gher than that of the same period last year. Energy consumption per unit of GDP went down by 2.7 percent year-on-year.

Total investment in fixed aassets grew by 6.3 percent, with private invest

ment growing at 6.4 percent, slightly faster than the overall number. This is es

pecially significant in the light of last year’s fears that private investment in the econo

my might collapse. So, the government’s efforts to strengthen the private sector appear to have borne fruit.

Investment in high-tech manufacturing rose by 11.4 percent and investme

nt in high-tech services rose 19.3 percent, both far higher than overall investment gro]

wth. This shows that the shift toward advanced manufacturing and services is well underway.

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And, despite ongoing tensions, the total value of impo

orts and exports rebounded sharply in March, reaching 9.6 percent higher than March 2018. S

o, overall trade grew by 3.7 percent year-on-year in the quarter despite low growth rates in January and Febru

ary. Exports of electrical and mechanical products, which are higher value added, grew by 5.4 percent in the qua

rter. And, private sector trade grew 9.9 percent, far more than the overall growth rate.

I am worried to see that total investment in real estate grew by 11.8 per

cent year-on-year. Having lived through the 2008 finan

cial crisis in the United States, I’m wary of continued high investment in real estate in a time when property prices are al

ready astonishingly high and China’s living space per person has already surpassed that in Europe.

The bottom line is that fiscal and monetary policies combined with policies to promote structural transformation have

achieved a stable macroeconomic situation and steady movement toward supply side upgrading.

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Medical experts said bills for patients requiring 29

of the 55 rare disease medicines available on the Chinese mainland

have been partly or fully covered by the country’s medical insurance system.

The average medical bill for rare disease patients is 200,000 yuan ($

29,700) a year and more than 40 percent of patients have received no medical tre

atment due to the high prices, according to Li Linkang, China Alliance of Rate Diseases executive director.

Biogen, the United Sates-based pharmaceutical compa

ny that developed the drug, said that it is talking to the C

hinese government, the medical and patient communities, and charitable orga

nizations in a bid to establish a co-payment system to make the drug available to more patients.

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hinese prize for quantum research announced

A total of 12 million yuan ($1.78 million) of cash will be granted to 12 international scientists for their

groundbreaking academic contributions to the fields of quantum computation and quantum com

munications, according to a press release by the newly founded Micius Quantum Foundation on Friday.

With a combined donation of 100 million yuan from Chinese entrepreneurs, the foundation based in Hefei, East China’s Anhu

i province, will give each of the six annual laureates one million yuan. The foundation, a non-profit organization, ai

ms to promote development of quantum information science and technology.

The Micius Quantum Prize’s 2018 and 2019 laureates were announ

ced at the same time, as selection of first-year nominees took longer than expected, said Luo

Yi, president of the foundation and a scientist from the University of Science and Technology of China, based in Hefei.

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The prize includes two categories, theory and experiment

The 2018 laureates for theory are Juan Ignacio Cirac, David Deutsch, Peter Shor and Peter Zoller,

for their seminal theoretical work on quantum algorithms and physical architectures of quantum com

puters and simulators, while the experimental category prizes went to Rainer Blatt and David Wineland for pio

neering experiments that demonstrated fundamental elements of quantum computing with trapped ions.

The 2019 prizes were awarded to Charles Bennett, Gilles Brassard, Artur Ekert and Stephen Wiesner in the theory category for th

eir work on quantum cryptography, and experimental prizes went to Pan Jianwei and Anton Zeilinger for their grou

ndbreaking experiments that enabled practically secure and large-scale quantum communications.

The awards ceremony will be held on Sept 20, Luo said.

USTC has been leading the world’s quantum information science and techno

ogy development in recent years, with Pan’s team attracting enormous attention from home and abroad.

ex177.cn

Detailed information on the foundation and the laurea

Peng Yuxing, vice-governor of Southwest China’s Sichuan province, is under disciplinary and supe

rvisory investigation for suspected severe violations of disciplines and laws, an official statement said Sunday.

The investigation is being conducted by the Communist Party of China Central Co

mmission for Discipline Inspection and the National Supervisory Commission.

Peng, a Sichuan native, was born in 1962. He graduated from Sichuan University with a master’s degree in 1985 and in July 1992 r

eceived his science doctorate from Pierre and Marie Curie University in Paris, specializing in polymers and materials.

He pursued a postdoctoral degree at ExxonMobil Chemical France from July 1992 to December 1993.

Peng then served in leadership positions at the Chengdu Institute of Organic Chemistry under the Chinese Academy of Sciences from 1997 to 2009.

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The forum helped countries upgrade their concept

 of cooperation, defined key areas and strengthened the mechanism to seek high-quality development of the BRI, he said.

Leaders reached wide-ranging agreement on high-quality cooperation on the BRI at the leaders’ roundtable on Saturday after an i

n-depth exchange of views on issues such as connectivity, policy integration and sustainable development.

They supported comprehensive infrastructure connectivity as a way to foster economic growth and to build high-q

uality, reliable, resilient and sustainable infrastructure, according to a joint communique issued after the roundtable.

All parties involved supported strengthening synergies in development policies using the principle

of extensive consultations, joint contributions for shared benefits and building even closer partnerships, the joint communique said.

The leaders also upheld green and sustainable growth and agreed to enhance cooperation in areas such as environ

mental protection, circular economy and clean energy, according to the communique.

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Noting that China has the world’s biggest middle-incom

income population, Xi said that China would open up its market continuously and welcome quality products from around the world.

China does not pursue a trade surplus intentionally, and it would like to import more com

petitive farm products, finished products and services to promote the balance of trade, Xi said.

China will promote greater openness in modern services, manufacturin

g and agriculture, allow foreign capital to hold the controlling share in more areas and buil

d some new free trade pilot zones to further ease market access for foreign capital, he said.

China will speed up making relevant rules and regulat

ions and ensure the implementation of the Foreign Investment Law, Xi said, adding that the cou

ntry will push forward supply-side structural reform through fair competition and international cooperation.

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Pledges at forum draw overseas experts’ praise

The international community has hailed President Xi Jinping’s call on Friday to ease market

access for foreign capital and increase imports so that opening-up reaches a higher level.

Xi said in his keynote speech at the opening ceremony of the S

econd Belt and Road Forum for International Cooperation in Beijing that the purpose of buil

ding the Belt and Road is to achieve win-win cooperation and common development.

China will increase its imports of goods and services and will further lower its tariff rates, Xi said.

Francis Chua, chairman emeritus of the Philippine Chamber of Commer

ce and Industry, noted Xi’s emphasis on quality imports and state-of-the-art products.

“China will keep its commitments,” said Chua, who was attending the forum as a member of the Philippine business delegation.

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Chris Rowley, a visiting professor from Oxford Unive

rsity’s Kellogg College in England, called opening to more foreign investment a very important development.

“Of course this will expose both inward investors and indigenous organiza

tions to some stark differences in management and doing business between them, which in tu

rn requires more globally effective leaders who are less ethnocentric and more culturally aware,” he said.

Sikhumbuzo Zondi, a research assistant at the Institute for Global

Dialogue associated with the University of South Africa, said another important aspect of Xi’s

opening address was the desire to invest more resources in scientific innovation and technology.

The aim is to develop technologies and business models that will foster new growth an

d development. To do this, China is committed to spearheading the Belt and Road Science, Technology and In

novation Cooperation Action Plan to advance information and communications technology infras

tructure development with the aim of improving internet connectivity and security, Zondi said.

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