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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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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Another outbreak in Shaanxi province caused the dea

aths of five pandas between December 2014 and April 2015.

Pandas are docile but can be fierce. In 2005, a female photographer from Hong Kong jumped into a pand

a enclosure to take photos. To the surprise of onlookers, the panda slashed one of her arms, causing profuse bleeding, the center said.

Zhou Mengqi, a veteran photographer in Chengdu, was chased by a panda that had been eating quietly unt

il he took pictures of the animal up close at the Chengdu Research Base of Giant Panda Breeding in the early 1990s.

“Its claw touched my shoes before I escaped through a door,” he said.

China has a total of 548 captive pandas. Of those, 285 are in the China Conser

vation and Research Center for the Giant Panda and 196 live at the Chengdu Research Base of Giant Panda Breeding.

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In 1908, the rail line from Shanghai reached Nanjing

The rail link between Tianjin and Nanjing’s Pukou district-the Tientsin-Pukow Railw

ay-was completed in 1912. But the two lines could not be connected because there was no bridge across the river.

According to the Academy of Sociology, which was founded by scholars from Nanjing Univers

ity, at least two structures-the Wuhan Yangtze River Bridge and the Chongqing Baishatuo Yangtze

River Bridge-were built before the Nanjing structure. But neither was considered a landmark by the public.

In 1913, Zhan Tianyou, who was known as “the father of China’s railways”, traveled to Nan

jing to inspect the Yangtze riverbed to build a bridge. However, he dropped his plan because the river had an ave

rage width of 1,500 meters, was more than 70 meters at its deepest and the water flow was 3 meters per second.

Zhan reportedly stayed for a few days, left without saying a word, and then decided to inspe

ct the river in Wuhan, Hubei province, before completing the first design for the Wuhan Yangtze River Bridge.

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The National Copyright Administration issued a state

tement Friday morning saying a campaign will be launched to regulate the image copyright market.

The administration said it attaches importance to copyrigh

t protection and protects owners’ legal rights, and companies sh

ould establish a mechanism to safeguard rights appropriately according to laws, not abusing them.

The image company was founded in June 2000 and in 2014 it was listed on China’s A-share

market. In the first three quarters of 2018, the company achieved revenue of 700 million yuan ($104.18 million).

Some have questioned the company’s use of copyright lawsuits. One company faced more t

han 4,200 lawsuits from Visual China Group, and more than 3,900 cases were decided.

According to a plan, the company would release 388 million restricted

shares on Friday, equal to 10.33 billion yuan. The share price has plunged sharply on Friday.

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Geely, SAIC see rise in profits, JMC and FAW Car record decline

Nine China’s listed auto companies — Geely, Great Wall, JMC, FAW Car, TianJin FAW Xiali, BYD, BAIC, GAC, S

AIC — announced their 2018 financial results, news portal National Business Daily reported on Thursday.

The portal said the vehicle sales and net profits of Geely and SAIC increased in 2018, while the figures of JMC and FAW Car decreased.

Geely reported its revenue rose 15 percent year-on-year to 106.6 billion yuan last year, the net profits attributable to s

hareholders increased 18.05 percent to 12.55 billion yuan, and the vehicle cumulative

sales (including the company’s subsidiary brand LYNK&CO) reached 1.5 million units, surging 20 percent.

Great Wall’s revenue and vehicle sales in 2018 were 99.23 billion yuan

and 1.04 million units, respectively, a 1.92 percent and 1.63 percent decline from a year ear

lier, while its net profits attributable to shareholders saw a rise of 3.58 percent to 5.2 billion yuan.

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The roads were sandy and muddy in the past, causing him t

m to stumble on the roads. “One year, it was snowing, and I walked more than one hour to the s

chool. My colleague helped me half of the way — otherwise, I might have fallen into the gully,” he said.

Gao Yangyao, who worked with Gao Ziren for many years, said that “he has difficulty walking, but he is usually the first to come to school.”

Gao Ziren’s Mandarin Chinese was not so good in the beginning, and he continued listening to radio broadcasts to improve his pro

nunciation. When students had the wrong pronunciation, he would correct them, even when it cost the whole class time.

In 1980s, the mountainous area had poor teaching conditions, with a lack of desks and benches, so Gao br

ought some desks and benches from home. When some impoverished students had no stationery, he would buy it for them.

Gao Xiaomei, one of the first students Gao Ziren taught and now a school principal in Meiling, said that he taught child

ren carefully and usually walked close to students to help them solve problems. His carefulness led her to be a teacher.

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