It is one of the oldest festivals, not only in China but also thro

roughout the world, with a history of more than 2,000 years. In 2006, the traditional festival was listed

as part of China’s national intangible cultural heritage. In 2008, it was recognized as a public holiday in the Chinese mainland.

The Dragon Boat Festival commemorates the death of Qu Yuan, a Chu state official and poet who lived during the Warring State

s Period (475-221 BC) before the reunification of China under the Qin Dynasty (221-206 BC). He was exiled after

opposing his king’s decision to ally with the neighboring state of Qin, and when Chu was finally conquered by Qin, h

e committed suicide by drowning in the Miluo River on the fifth day of the fifth lunar month.

The Chu people, who admired Qu Yuan for his loyalty and integrity, threw rice dumplings into the river to feed the fish so t

hey would not eat the body of their poet hero. People then started dragon boat racing to scare off the fish.

Since then, the fifth day of the fifth month on the lunar calen

dar is celebrated as the Dragon Boat Festival. The following are some customs for the festival.

pristinefood.org

The world’s largest unicorn is Beijing Bytedance Tech

nology Co. The Chinese multimedia giant, owner of personalized news aggre

gator Toutiao and popular short video platform Douyin or Tik Tok, is worth $75 billion.

More than 100 unicorns are projected to have an initial public offering this year, including Uber and Airbnb, while ride-hailing servic

e provider Lyft and online scrapbook company Pinterest have already hit the public market, the report said.

Unicorns are most likely to appear in internet software services and e-commerce, while the most valued ones are m

ostly found in the on-demand transportation sector, Desjardins said. celebrate the Dragon Boat Festival, fo

reign students from the Chinese Culture and Literature School at Nankai Univer

iglhlg.cn

In May, the offshore RMB exchange rate against the US do

dollar dropped more than 3 percent under market pressure as global investors worried about the escalation of trade friction.

Guo Shuqing, Party secretary of the People’s Bank of China, the central bank, said on Monda

y that higher US tariffs on China’s imports triggered financial market volatility, and this also affected the offshore RMB.

The currency’s depreciation was purely caused by market forces, a

d China has never taken any measures to deliberately devalue the currency to make its exports more

attractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.

According to Guo, the short-term fluctuation of the RMB exchange

rate was normal, and the depreciation will not last long given the stable economic growth base.

ax148.cn

Experts say more work needed on AIo in Suzhou, Jia

hina has published the most research

papers on artificial intelligence around the world, while AI research from the Unite

d States remains the most influential, said a report on AI development released in Shanghai on Friday.

More than 300,000 papers on AI have been published globally from 2013 to 2018, among which around 74,000 were publishe

d by Chinese researchers and 52,000 by their US counterparts, and the US dominated in fields such as citation impact,

number of patents, and the scale of companies and funds, the report said, adding that China lacks basic theoretical research.

The report was compiled by the Research Center for AI Development, which was established last year by the Ministry of Science and Technology.

“China and the United States are the two main pillars of the world’s AI r

esearch network, and the most cooperation on AI research happened between the two

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Renminbi to remain stable, regulator saysknotes at a ba

Central bank vice-governor voices confidence amid currency volatility

The monetary authority vowed to stabilize the renminbi amid escala

ted trade tensions, while continuing to push forward financial opening-up and pr

otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.

“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma

rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi

ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.

Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do

llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h

www.hebeishengxin.cn

Different from 3G and 4G technologies, 5G technolo

 will impact various industries and stimulate the emergence of many new products, services and industries.

China Daily’s app was named the “Highly Commended” news app of the year at the newsawards 2019 in London on Wednesday.

The result was announced at the gala dinner held at the Royal Lancaster London. Ch

ina Daily beat two other nominees – The Independent and the Belfast Telegraph – to win the honor.

The China Daily app offers “a powerful mix of technology and innovation, with great clarity on audience needs,” said the judges.

The automotive sector will most likely be one of the first industries to rely

on 5G, connecting vehicles to other vehicles, roadsides, traffic lights, buildings and the inter

net to process data across cars or in the cloud, according to the report.

As 5G technology has integrated various industries and technologies, the number of 5G Stand

ards-Essential Patents applications surged to more than 60,000 globally by the end of April, the report said.

www.newbalancestore.cn

Other commonly used disaggregated growth meas

ures are consistent with the top-line measured GDP growth number. For example, production and

supply of electricity, thermal power, gas and water increased by 7.1 percent in the quarter. Pl

us, value-added index of transport, storage and post increased by 7.3 percent.

A closer look at the highest growth sectors shows that the economy is moving toward the long-term goal of shif

ting away from a development strategy based on heavy investment in industry and

infrastructure to one based on services and domestic consumption. Also, more productive industries that tur

n out higher-value added goods are growing at a much faster rate than traditional heavy industry.

Among large companies, State-owned enterprises grew 4.5 percent yea

r-on-year while shareholding enterprises grew almost twice as fast, at 7.8 percent. So, stro

ng progress is being made toward the goal of promoting private enterprise, which was re

inforced by many policies announced at last month’s meeting of the National People’s Congress.

www.sjhtjn.cn

One dead, three injured in California synagogue shooting

One person died and three were injured at a synagogue shooting in San

Diego, California, on Saturday, San Diego County authorities confirmed.

A man has been detained for questioning in connection with the shootin

g at the Chabad of Poway synagogue, said San Diego County Sheriff’s Department.

Deputies from the Poway station were called to Chabad Way, where the synagogue is located, just before 11:30 am.

Multiple law enforcement sources told local media that four people were shot.

Poway Mayor Steve Vaus told media that the facility was targeted because it was a place for the Jewish community to gather.

“I understand that this was someone with hate in their heart, hate for the Jewish community,” he said of the shooter.

www.qianpadat.com

More than 500 cases have been handled through the

WTO dispute settlement system. Although the rulings are not bindi

ng, most WTO members take them seriously and view the process as a normal part of their

participation in the multilateral trading system, regardless of whether they win or lose any particular case. In do

ing so, they show their respect for the WTO’s principles of consultation and consensus.

China had filed 17 cases with the WTO as of Ap

ril 2018, of which eight had been closed. At the same time, 27 cases had been filed a

gainst China with 23 closed. The United States has had more cases filed against it than any other member state

in the WTO, and it lost quite a number of these cases. In 2016, for example, the WTO ruled against the Unite

d States with regard to a complaint from China in 2013 that it had violated WTO rules by imposing anti-dumping duties

on a number of industries, including machinery, electronics, light industry, metals, and mining.

www.nyavov.cn

Remaining poverty alleviation tasks are quite arduou

s, and government departments must make continuous efforts to ensure tasks are completed. Off

icials of poverty-stricken counties must keep a close eye on problems to ensure people can escape poverty.

The Party’s publicity work was also discussed. It’s the top political task to learn and publi

cize Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the statement said. A

ll Party committees must pay great attention to publicity work and ensure the implementation of regulations.

A draft amendment to the Securities Law was submitted Saturday to a bimonthly session of

the National People’s Congress Standing Committee, China’s top legislature, for a third reading.

The latest revisions to the law include rules on the newly-devised science and technol

ogy innovation board, which will pilot a registration-based initial public offering (IPO) system.

Under the current IPO system, new shares are subject to approval from the China Securities Regulatory Commission before being listed.

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