ate interests, heed its people’s will and safeguard the basic

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The two countries should follow the direction set by their heads of state, manage d

ifferences on the basis of mutual respect and expand cooperation on the basis of mutual benefit, he added.

Ren Zhengfei, founder and CEO of Huawei, told the Nikkei Asian Review on Satu

rday that the company has not done anything that violates the law, and the ban will have a limited impact on its business.

However, Xiang Ligang, director-general of the telecom industry association Informat

ion Consumption Alliance, said the US ban will disrupt the global electronics industry, given the size of Hu

awei as the world’s largest telecom equipment maker and the second-largest smartphone vendor.

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it has long been prepared for the “extreme scenario” of the US blo

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access to some components and technologies.

“We have been developing backup products for years in anticipat

ion. … Such efforts can ensure the strategic safety of most of the company’s products an

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

Foreign Ministry spokesman Lu Kang said at a news conferen

ce on Friday that the development and utilization of 5G depends on global cooperation, and inte

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

HiSilicon, which was founded in 2004, has designed chipsets like Ki

rin, which has been used in Huawei’s high-end smartphones. In addition to server chips, th

e company has also developed chips for base stations, basebands and chipsets powered by artificial intelligence.

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

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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 th

an 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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This facial recognition app tells one panda from another

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Having trouble discerning one furry panda from another? A facial recognition app will make it easy for you.

The app is developed by the China Conservation and Research Center for Giant Pandas

along with researchers in Singapore Nanyang Technological university and Sichuan Normal University.

The image analysis research kicked off in 2017. A database now contains about 120,000 images and 10,000 video clips of giant pandas.

Close to 10,000 panda pictures have been analyzed, marked and annotated.

Using the database, researchers are able to carry out automa

tic facial recognition on panda faces to tell one animal from another, the center said.

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School students and adult visitors learn about making print

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In celebration of this year’s International Museum Day, the Palace Museum in Beijing turned itself into a dynamic stage on Saturd

ay and offered a variety of activities to echo this year’s theme, “Museums as Cultural Hubs: The Future of Tradition”.

Students and adult visitors were invited to the museum to learn about making prints and carving stamp seals and to learn about

the appreciation of and technological methods being used in the conservation of the age-old buildings at the Palace Museum.

The Chinese Musicians Association’s choir gave an outdoor performance. An exhibitio

n opened showing dozens of lithographs by artists from countries involved in the Belt and Road Initiative.

Wang Xudong, director of the Palace Museum, says it’s a duty for museums to provide a plat

form for scholars to exchange their academic findings, for artists from different cultural bac

kgrounds to show their work and boost mutual respect, and for children to pass traditions into the future.

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

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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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Telecom carriers, chipmakers and smartphone vendors

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

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

sed 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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Zhang Dawei, chief analyst with Centaline Property, sai

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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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it its lowest level since November. Trade talks betw

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ween China and the United States recently faltered and a large amount of additional tariffs are expected to be imposed on imports from both sides.

China will take necessary measures, in response to foreign exchange market flu

ctuations, including using a strengthened risk management system, said Pan.

He also stressed that authorities would crack down on illegal activities in foreign exchange trading.

“China has sufficient policy tools,” said Pan, who is also director of th

e State Administration of Foreign Exchange, the country’s foreign exchange regulator.

The PBOC vice-governor also confirmed on Sunday that China will continually implement

opening-up policies and improve the environment for overseas investors and protect the legal rights of foreign investors.

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he transformation and upgrading of existing industries

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thanks to measures to stimulate innovation, optimize the business environmen

t and public services, and to strengthen opening-up and cooperation in the digital sector.

“China’s high-tech industries, represented by new technologies, new industr

ies, and new products, have maintained rapid growth in recent months,” she said.

According to the commission, output in the high-tech manufacturing sector rose 8.7 percent ye

ar-on-year from January to April, 2.5 percentage points higher than that of industrial output. High-tech ma

nufacturing output was responsible for 13.6 percent of industrial output, 1 percentage point higher year-on-year.

Output of the electronics and communication equipment manufact

uring sector, pharmaceutical manufacturing and aerospace and equipment manufacturing wer

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