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President’s message calls for tackling legal, security, governance challenges
President Xi Jinping called on Sunday for strengthened cooperation among countries to explo
re opportunities of digital, internet-based intelligent development and to properly address le
gal, security and governance challenges arising from big data industry development.
He made the remarks in a congratulatory letter to the China Internati
onal Big Data Industry Expo 2019, which kicked off in Guiyang, Guizhou province.
The new generation of information technology, represented by the internet, big data an
d artificial intelligence, is booming at present and has significant and profound influence on various cou
ntries’ economic development, social progress and people’s lives, Xi said in the letter.
ciple. So every country has important principles, and we absolutely c
annot make concessions on such issues of principle,” the vice-premier said.
Liu, however, added that he hoped both sides would exhibit flexibility in the talks.
He refuted the criticism of the US side that China reneged on its promises in the draft trade text.
“We believe that it is only natural to have changes before a final deal; it is something that surely occurs in the process, so we
don’t think the Chinese side has back-walked,” he said, adding that he disagreed with the wording of “renege”.
“We just had differing views on how to phrase some things in t
he text, and we hope to resolve it, so it’s unnecessary to overreact to the issue,” he said.
going reform measures have made its financial market increasingly appealing to overse
as investors,” the administration said on Monday in a statement on its website.
“The administration will continue to support the opening-up of financ
ial markets, meet demand from overseas investors to expand investment in the ma
rkets and attract global long-term capital to enter China’s financial markets,” it said.
Given the stable performance of the yuan and expectations of balanced capital flows, China’s fore
ign exchange reserves remained stable in April, reaching $3.095 trillion by the end of last month, co
mpared with $3.099 trillion by March, according to data released by the administration on Tuesday.
China is willing to see the accelerated development of the onshore capital market, said analysts, allowing direct fi
nancing to play a more significant role in allocating savings and investment, and better serve the economy.