management, said they are seeing high levels of cash globally. But she also stressed that, alth
ough it increases liquidity, cash may not necessarily be a safe strategy in the long run.
Faced with many uncertainties, including downward pressure on China’s economy and escalating trade fricti
on between China and the United States, 36 percent of the 465 Chinese high net worth ind
ividuals – those with average personal wealth of at least 10 million yuan ($1.45 million) – polled by the Hurun Research In
stitute said that the focus of their investment strategy will be to “avoid risks” this year, mainly by increasing
asset allocation to fixed income products, gold, bank deposits and currency products in the next three years.
Mark Haefele, chief investment officer at UBS global wealth management, said that investors sometimes focus too much on th
eir home region. “Diversification is still the best way to access opportunities and sidestep domestic risks,” he said.
recent and future tariffs will cut about 0.3 percent of global GDP in the short ter
m, with half stemming from negative effects on business and market confidence.
Failure to resolve the trade differences and further escalation in other areas, such as the auto
industry, which would cover several countries, “could further dent business and financial market se
ntiment, negatively impact emerging market bond spreads and currencies, and slow investment and trade“, the research said.
Experts urged the US government to stop its protectionism and proposed options for a resolution between the two countries.
Chen Wenling, chief economist of the China Center for International Economic Exchanges, said the US needs to correct moves that have
already added pressure to global economic prospects. Otherwise, it will “pay the price” for its protectionist behavior, she said.
enced the renminbi’s performance, said Wang Shengzu, co-head of Investment Strategy Group Asia Goldman Sachs.
But the currency is unlikely to slip out of a reasonable range, assuming there is no big shock from the trade talks, Wang said.
As a sound base for a stable renminbi, “the Chinese economy has shown sig
ns of bouncing up, shown by the faster-than-expected growth of industrial output, ret
ail sales, and credit in the first quarter, and this means that economic activity is improving with supportive pol
icies”, said Wang.Liu Shiyu, China’s former top securities regulator, was under investigation for alleged violations of
the law, according to a statement Sunday from the Central Commission for Discipline Inspection.
old student from Xidian University in Shaanxi province, died from a rare cancer of the soft tissue. Wei was re
searching the disease on Baidu and came across an advertisement for treatments that proved ineffective.
After Wei’s death, Baidu announced a sweeping restructuring and optimization of its medical business, especially regardi
ng its paid listing practices. It also tightened regulations on medical promotion and enforced clear labeling rul
es that differentiate advertisements from credible medical information, according to media reports.
However, medical advertising remains one of the key sources of income for Baidu, and some are still trying to exploit the s
ystem. In April, the police in Shenzhen, Guangdong province, detained a team of medical fraudsters who drove up r
ankings on Baidu’s research results to promote faulty hospitals to patients, local authorities said.
Zhang Tianhang, a pet photographer based in Beijing, has taken photos of over 10,000 stray animals over the past eight ye
ars. Working with animal shelters, he is determined to raise people’s awareness of these abandoned pets and find them a new home.
“You won’t believe these are photos of the same dog,” Zhang said, pointing at two picture
s showing a dog before and after a complete makeover. “The animals feel so much happier if someone cares for them.”
This lucky dog got adopted by Chinese actress Gao Yuanyuan, whic
h made Zhang believe in his cause even more. “Every dog is adorable. We want people to
see that and give them a home,” he said. “You just need to connect with the animals, let them trust you.”
Many of Zhang’s “models” have been adopted by local people, and
some even start a new life overseas. Zhang hopes more people will consider adoption ins
tead of buying a pet at the store. “It’s a very big responsibility, usually over 10 years,” he said.