China becomes second-largest source of ‘unicorn com

China becomes second-largest source of ‘unicorn com

China has become the world’s second-largest source of “unicorn companies” accordi

ng to the latest report on China unicorn companies by the Evergrande Research Institute.

With 88 in total, China is the world’s second-largest source of unicorn compani

es following the US with 151. The report cited data from IC Insight gathered between 2013 and Dec 31, 2018.

Twenty-two companies worldwide were included as super unicorn companies in 2018 and C

hina’s Fintech company Ant Financial ranked first in value worth $150 billion, the report said.

The US and China had the greatest number of new sup

r unicorns worth $10 billion last year with 12 and 7 respectively, accounting for 86.4 percent of

the world’s total. The UK, India and Singapore had one of these companies each in the same period.

New energy vehicles, artificial intelligence chips, robots, big da

ta, computer vision and cloud computing are the main areas for these emerging unicorns.

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Huawei’s rotating head addresses UK security concerns

Huawei’s rotating head addresses UK security concerns

Huawei’s rotating Chairman Guo Ping addressed UK’s securit

y concerns after the Chinese telecommunications company was criticized in a report on Thursday.

Huawei’s performance in the past 30 years has proven it has the best security record in the industry, Guo said at a press conference in Beijing on Friday.

The results from authorized professional test and evaluation companies in the US, UK and Finland show 9 out of 12 profes

sional capabilities of Huawei’s products have reached the top level and the other three are above average.

Huawei accepted the strictest and toughest tests from UK’s monitoring institution and was th

e first to promise worldwide that the company will make the process and results secure and trustworthy, Gao said.

The company’s board of directors made a decision to invest $2 billion to improve overall sec

urity capability in the next five years with openness, sincerity and trustworthiness, he added.

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streamline certain fees related to ports, highways and airpo

streamline certain fees related to ports, highways and airpo

he said. In addition, the ministry will step up its efforts to manage the effects of eliminating highway toll stations at provincial boundaries.

The ministry also called for small and medium-sized enterprises to forge alliances for common development to consolidate the fragmented logistics sector.

In recent years, China’s logistics industry has been experiencing consistent growth on the back of steady economic progress and a rising domestic market. Accor

ding to the National Development and Reform Commission, logistics expenditures rose 9.8 percent to 13.3 trillion yuan, am

ounting to 14.8 percent of last year’s national GDP. The share was slightly up from the previous year.

The logistics sector is of strategic importance in the development of the market econom

y, and the ministry has been making consistent efforts to reduce logistics costs and raise efficiency. It redu

ced logistics spending by 56 billion yuan in 2016, 68 billion yuan in 2017 and 98 billion yuan in 2018.

China ranked 12th last year in the World Bank’s logistics performan

ce index covering 160 countries and regions. China’s position has moved up 15 places since 2016.

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onfidence to tackle technology challenges risings better

onfidence to tackle technology challenges risings better

Chinese business leaders are more confident and prepared in addressing the challenges brought by new technologies than

those in many other countries, said Cindy Hook, CEO of Deloitte Asia-Pacific, a global consultancy firm, on Thursday.

While many business leaders in the rest of the world take a protective approach to using technologies, Ch

ina’s leaders would like to “disrupt their sectors” and facilitate real changes, Hook said on the sidelines of the Boao Forum for Asia.

“Chinese enterprises are looking at the technologies available-whet

her it’s artificial intelligence, big data or the like-to actually come up with whole-new busi

ness models and whole-new approaches to doing things, not just improving the old processes.”

With the readiness for technologies, China is likely to lead on many aspects of the unfol

ding Fourth Industrial Revolution, such as e-commerce, smart cities and the internet of things, Hook said.

The country’s impact on the revolution will be enlarged by its opening-up determina

tion, she added, citing the fresh opening-up measures announced by Premier Li Keqiang at the forum on Thursday.

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Liu, the spokesman, said the ministry dispatched a team co

Liu, the spokesman, said the ministry dispatched a team co

nsisting of 49 experts from institutes affiliated with the ministry and universities

, including Tsinghua University, to the site to help with the environmental aftermath from the explosion.

He also said the team has cut off the access of three rivers to Guanhe River, which empties into the sea, to prevent the pollution from spreading.

The three rivers inside the chemical industry park wer

e found contaminated soon after the blast. On Wednesday, an excessive amount of pollutants was still de

tected in two water bodies in the chemical park — the Xinfeng River and Xinnong River.

According to the Jiangsu environmental watchdog, the density of ammonia nitrogen in Xinfeng River reached 183 millig

rams per liter, 90.5 times higher than the national standard, at 10 am on Wednesday. The content of methylene chlor

ide in the river was about 15 times above the national standard with a density of 0.321 mg/L. The ch

emical oxygen demand in the water body stood at 343 mg/L, 7.6 times above the national standard, the watchdog said.

The watchdog also found an excessive amount of these pollutants in Xinnong River, though with much lower densities.

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After a two-hour hearing on Wednesday, the top court up

After a two-hour hearing on Wednesday, the top court up

held the original ruling, and said the two companies should stop their infringement immediately.

The Shanghai IP Court will further calculate the exact amou

nt of compensation that the two Chinese companies should pay to Valeo, accor

ding to the verdict. During the first trial, Valeo had requested compensation of 6 million yuan ($893,000).

Wednesday’s trial is of great significance as it shows China’s growing efforts in protecting IPR, the top court said in a release.

“It shows the country’s strong determination in fighting infringement, and intensif

ied judicial protection for IPR and innovation-driven development,” said Ma Yide, an intel

lectual property professor from Zhongnan University of Economics and Law who attended the hearing.

The final verdict was reached only two months after the original one.

Such a fast pace reflects improved efficiency in handling IP-related lawsuits in Chinese courts, he said.

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

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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largest source of imports. Given that Italy enjoys many tec

largest source of imports. Given that Italy enjoys many tec

hnology and brand advantages, it has become one of the main destinations for Chinese ente

rprises’ overseas investment in recent years, with the scale of investment gradually increasing.

The establishment of the China-Italy Government Committee and dialogue mechanisms such as regul

ar meetings between the Chinese premier and Italian prime minister has provided a solid institutional foundation for cooperation bet

ween the two countries. And frequent high-level interactions between the two sides have deepened their economic ties.

But there is still enough room to expand Sino-Italian economic relations. In terms of trade, th

e industrial structures of China and Italy are highly complementary, and the huge potential for

bilateral cooperation in manufacturing, agriculture and innovation has not been fully tapped.

China has a vast market and is the world’s second-largest impor

ter of goods and services, and has vowed to further increase its imports. At the first China Inter

national Import Expo in Shanghai in November, President Xi said China’s imports of goods and service

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To attract more foreign investment to China, the country’s

To attract more foreign investment to China, the country’s

 top legislature recently passed the Foreign Investment Law, which says China will gradually shorten the negative list fo

r foreign investors to increase inbound foreign investment. This, together with Italy’s policy to welcome Chin

ese investment, is expected to help the two countries take more measures to boost investment cooperation.

Sino-Italian friendly exchanges have a long tradition, and the prospects for deeper bilateral cooperation are bright. This ye

ar marks the 15th anniversary of the establishment of the Sino-Italian comprehensive strategic partnership, and in 2

020 the two countries will celebrate the 50th anniversary of the establishment of their diplomatic relations.

Therefore, the two sides should synergize their development strategies and tap the potential for further bilateral cooperation. They should also strengthen bilate

al macroeconomic policy coordination under the frameworks of G20, World Bank, Asian Development Ban

k, Asian Infrastructure Investment Bank and other multilateral mechanisms, and help maintain the rule-based multi

lateral trading system and jointly promote global governance reform apart from deepening Sino-Italian and Sino-EU relations.

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Dream lifestyles in Dali end in disappointment

Dream lifestyles in Dali end in disappointment

“If you are not satisfied with your life and don’t know why you have lost your smile; if you are unhappy and don’t like being where you are, go west – with Dali your destination.”

These lyrics form part of a song in the Chinese blockbuster movie Breakup Buddies, wh

ich was shot mostly in Dali, an attractive city in Yunnan province, and released in 2014.

The film inspired many middle-income earners tired of the hustle and bustle of urban life to quit their jobs in big cities and move to Dali.

However, unlike in Breakup Buddies, many people’s dreams of finding a

better life in Dali – which has provided the perfect backdrop for romantic trysts in hun

dreds of movies – have not had happy endings, and they are beginning to leave for a variety of reasons.

Chu Xiaogui, an author of popular books who moved to Dali from Beijing with her husba

nd in December 2015, said she had since witnessed many friends leaving and returning to their hometowns.

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