Four Chinese banks ranked among world’s top moneymakers

Four Chinese banks were among the world’s top 10 most profitable companies over

the past year concluding at the end of March, according to a report by Bloomberg.

The Industrial and Commercial Bank of China and China Construction Bank achieved a net in

come of $45 billion and $38 billion respectively over the past year, closely following Apple Inc, which retai

ned its title of world’s biggest moneymaker for the fourth straight year with a net income of $57.2 billion.

The Agricultural Bank of China and the Bank of China were respectively ranked at the

seventh and 10th places in the top profit list, with $31 billion and $27 billion in net incomes.

While financial service companies claimed nine spots among the top 10 most profitable compa

nies, no drugmakers or automotive firms appeared in the list for the first time in eight years, the report said.

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Ministry of Industry and Information Technology data show

ed China’s digital economy had reached more than 27 trillion yuan ($4 trillio

n) in 2017, a year-on-year rise of 20.3 percent, accounting for nearly 33 percent of GDP.

Lu said the growth rate of the number of people working as new media operators in 2017 was mo

re than 10 times that of 2013. The growth comes as more consumers turn from mass media to new me

dia, which provides more information, is faster, has a more diversified presentation and cheaper cost.

Algorithm engineers, in particular, grew at exponential rates. More than fi

ve times as many people worked as algorithm engineers in 2017 than 2013, he said.

“Algorithm is the foundation for artificial intelligence. AI has started to integrate with other industr

ies and already had been successfully implemented in AI plus marketing, finance and assisted medical dia

gnosis. AI engineers will have more value as AI becomes more closely tied with more businesses,” Lu said.

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also largely now employ less-skilled working-class peop

ople. However, neither the US nor China can expect to keep, much less get back, low-wage, low-skilled manufacturing jobs.

Many people have the impression that Chinese goods are dominant in US markets. That is true only in a few highly com

petitive, low-profit sectors. According to US Commerce Department data, China has more than 50 percent of the

US market in such items as umbrellas, toys, prepared feathers, footwear, straw products, and bedding.

Chinese exporters have from 20 to 50 percent of the US market in ot

her low-value-added markets, plus electrical machinery and equipment, mechanical app

liances, and iron and steel. In most other categories, China has less than 20 percent of the US market.

China also assembles and then exports a lot of phones, computers and other gad

gets to the US. But, most of the profits and wages go to Japanese or South Korean componen

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Roughly 20 years ago, when China’s admission to the

World Trade Organization was being negotiated, China’s economy was ti

ny as a portion of world GDP. It was clearly a poor, less-developed country that, except in a f

ew areas, was not able to compete with Western companies in high-value-added products.

As Alexander Hamilton, the first US Treasury secretary, argued, a developing country may need to p

rotect its “infant industries” from already established foreign competitors. This was the policy foll

owed by the US in the 19th century and by Western Europe, Japan, and South Korea in the years after World War II.

China is no longer a poor country. It can no longer compete by using low-wa

ge labor. Fortunately, it has now developed world-class companies that are incre

asingly developing new products and services that can compete successfully in many foreign markets.

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Wang Chunyan has arranged to take her son on study

“We’ve been to deserts, grasslands and (sections of) the Silk Road over the years,” Wang says.

Wang has booked for her son-who is currently in the fifth grade-a two-week trip to Australia and a two-week trip to the US in August.

“He will be sitting in local classes and studying with local children there,” Wang says.

Although the outbound-study trips will cost her around 70,000 yuan, she believes it’s money well spent.

“He will learn things while having fun in a foreign country, which

will open his eyes to the world and enable him to make new friends,” she says.

Speaking about the effects of taking those study tours, Wang says her son has a better understanding of differ

ent cultures and has become more confident on such occasions as when he has to talk in public or participate in a performance.

“I will keep sending him on such trips so that he can see more places and get to know their culture and history,” she says.

Enthusiasm for study tours is likely fueled by the fact that some middle schools in Ch

ina have already put them under consideration when evaluating a student’s comprehensive performance.

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More than 18,500 vaccinations have been provided,

 more than 4,300 clients completed the standard se andries of three vaccinations within si

x months.a-free policy will further cement Guangzhou Baiyun International Airport’s

The Boao pilot zone is the first place on the Chinese mainland a

llowed to import HPV 9-valent vaccines and other drugs wit

hout needing central government permission, in line with the nine preferential policies granted by the State in

2013 – in this case, special permission to import medical technology, medical equipment and medicine.

The provincial health and drug administrations will also send more supervisors to the pilot zone to provide guida

nce and coordination and strengthen supervision of medical institutions, the statement said.

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Contents regarding collective copyright managem

ent organizations, including stock image platforms, have been debatable and remain a key issue among lawmakers,” she said.

“I believe such copyright agencies will be regulated in the future version of the law after Visual

China’s incident, and our IP protection will also be further strengthened thanks to the case,” she added.

Different from many comments that criticized the company and its business, Chen sai

d it is “Okay” for stock image platforms to profit from selling images or filing copyright lawsuits.

“Proper commercial operations can help defend the rights of individual creators, as it is difficult a

nd costly for individuals to sift through seas of information and find out who infringes their rights,” she said. “Or su

ch platforms create a better environment for copyright owners to easily and effectively safeguard their rights.”

But she suggested the country set up a third-party to supervise

the platforms’ operation to prevent them from exercising the rights beyond the legal scope.

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Defending champion Mark Williams fought off a Marti

Gould fightback with a 10-7 win.Gould pegged Williams back from 9-4 to 9-7, before the Welshma

n eventually managed to get himself over the line and boo

k a second round meeting with either David Gilbert or Joe Perry.

Williams, who also lifted the trophy in 2000 and 2003, said

, “It was a tough first round match and I thought I played quite well.

“I just think my form has been improving for the last month or two and

it showed there. Even though the last few frames were a bit scrappy, overall it was good.”

In the day’s other matches, 2010 champion Neil Robertson of

Australia stormed to a 9-0 lead over Michael Georgiou of Cyprus. World number 14 see

d Luca Brecel of Belgium fought back from 3-2 down to lead England’s Gary Wilson 5-4.

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The signed exhibitors at trade in service area are Deloitt

PWC, KPMG, Ernst&Young, UPS, DHL, CMA CGM, HSBC, and VALE International.

The food showing area will be 60,000 square meters showing d

airy products, vegetables, fruits, meats, aquatic products, snacks, condiments, liquor and bever

ages, and the exhibitors will include Nestle, Danone, Fonterra, Theland, Dole, Louis Dreyfus and Cargill.

The 12th China Arts Festival will bring a slew of art activities to the Chinese economic and art hub Shanghai.

From May 20 to June 2, more than 50 shows selected nationwide will be perform

ed in 19 major theaters in Shanghai, over 600 artworks will go on display at the China Art Museum, and a fine

selection of creative cultural products will be shown at the Shanghai Exhibition Center. The festival will inclu

de various art forms, such as opera, chamber music, dancing, painting, sculpture and photography.

As 2019 also marks the 70th anniversary of the foun

ding of the People’s Republic of China, this year’s repertoire will be centered aro

und the lives of modern Chinese people as well as the diversified and prosperous art development in the new era.

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The seized animals and products included ivory, rhinocer

ros horns, pangolin scales, dried sea horses, red corals, and hawksbill turtles, Zheng said.

A major overseas criminal gang once active in smuggling animals to Guangdong province has been busted following the crackdown, he said.

He suggested that further special campaigns will be launched to fight against such smuggling in the coming months.

Water pollution has forced many regions, especially in southern China, to change their sou

rces of drinking water, with many reaching out to the Yangtze River, a report said.

The contamination of water bodies has made drinking water in souther

n China more scarce, despite a dense network of waterways, according to the report, publ

ished earlier this year by the Institute of Public and Environmental Affairs, an NGO.

A campaign to root out environmental violations at water intake sites is expect

ed to improve things, but environmental authorities should be aware that local governments may choose to aba

ndon their water intake sources to avoid rectifying problems, said Ma Jun, director of the institute.

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