Through its app, customers can watch their coffee being

Luckin raised $561 million in its initial public offering Friday by selling 33 million American depositary shares at $17 apiece.

The ADS, which are trading on Nasdaq under the symbol “LK,” closed at $20.38 after rising as high as

$25.96 earlier in the day.Museums are not only there for enjoyment; they are education, and as such should be free.

While I can appreciate the enormous costs involved in maintai

ning and obtaining collections, let the wealthiest 1 percent of the country pay for it.

The Met in NYC is technically free; they ask you to give what you can afford. But the idea

of a person or child interested in art not being able to view it because of cost is morally wrong.

Free entrance does not attract people, nor does it encourage them to appreciate it

www.cn-yongan.com

Chinese exporters have from 20 to 50 percent of the

 US market in other low-value-added markets, plus electrical machinery and equipment, mechanical

appliances, 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 gadgets to the US. But, most of the profits and

wages go to Japanese or South Korean component producers or US-based designers. For example, China ma

kes less than $9 from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.

It’s a good thing that China is no longer a low-wage country. Most Chinese

are much better off than they were even 10 years ago. But it does mean that these lo

w-skilled, labor-intensive industries will be moving to less-developed nations. US tariffs on such products will only se

rve to hasten the transition to higher value-added industries that China has to make anyway.

www.shoppingfair.org

Lu made the remarks in response to recent media repo

 reports that India decided not to send a delegation to the second Belt and Road Forum for Internati

onal Cooperation later this month in Beijing. The reports said the initiative undermines the South Asia

n nation’s sovereignty via the BRI-related China-Pakistan Economic Corridor.

Lu said that, “If this decision about whether to participate in building the Belt and Road

was possibly made through a misunderstanding”, China firmly and sincerely advances the constr

uction of the Belt and Road on the basis of consultation and contribution for shared benefits.

He added that the initiative is open to all parties that are inter

ested in and willing to join in win-win cooperation.

It will not exclude any party, he said, adding that China is willin

g to wait if relevant parties need more time to consider their participation.

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But the underlying trend for the past five years is enc

ncouraging: annual TFP growth of about 3 percent, with especially strong growth in the tertiar

y sector. So, notwithstanding the recent slowdown in aggregate GDP growth, services-led Chi

nese rebalancing is imparting meaningful productivity leverage to the economy as a whole.

The question now is: Can China sustain its recent TFP trajectorya dist

inct possibility in light of an increasingly powerful shift to indigenous innovation and

the sustained services-led productivity of a growing cohort of well-educated knowledge workers-as well as rea

p the benefits of continued upgrading of its capital stock? If it can, the new Chinese study concludes that China’s potential GDP growth rate could hold aro

nd 6 percent over the next five years. Such an outcome would conform quite closely with China’s longer-term ambitions.

So, despite the days of 10 percent Chinese growth being over, which w

as inevitable, there is good reason to believe that the real story is China’s shift from qua

ntitative to qualitative growth. Which suggests China will defy yet again widespread fears of a looming middle-income trap.

www.ypwhl.cn

The European leaders said they are glad to see a greater

 development in China, and the EU welcomes China’s willingness to share its development opportunities.

Chinese enterprises are welcome to invest in European countries, said the European leaders, adding that they will not adopt restrictive measures against specific com

panies, and are willing to provide a fair, open and transparent business environment for all foreign enterprises.

During the visit, Peng Liyuan, Xi’s wife, also attended a number of events aimed at deepeni

ng cultural and educational exchanges between China and the European nations.

As a special envoy of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for the advanceme

nt of girls’ and women’s education, Peng was invited to visit the headquarters of the UNESCO in Paris.

Wang said Peng’s visit highlighted China’s image of a hardworking, responsible maj

or country that actively participates in international education, gender equality and other affairs.

www.shlftv.com

The revelation that an extra pilot saved the plane the day

before the crash has never been reported before, according to Bloomberg.

Aviation analyst and editor in chief of Airlineratings.com, Geoffrey Thomas, said it was not unusual for off-duty pilots, known as dead heads, to fly in the cockpit of planes.

“It could well be that the flight is full and he needs to get back t

o Jakarta — so as long as he is authorized to do so — then it’s absolutely fine,” he said.

However, the presence of the third pilot in the cockpit did not appear in the National Tra

nsportation Safety Committee’s (KNKT) November preliminary report into the crash.

Thomas said this fact should have been reported “as you could argue that the pilot was a distraction or an assistance,” he said.

Wall Street Journal: Transportation Department inspector general investigating FAA’s approval of Boeing 737 Max

CNN contacted Lion Air Group Captain Daniel Putut for comment and he directed questions to the KNKT.

xzzygk.com

hinese President Xi Jinping sent a message of condolenc

to New Zealand Governor-General Patsy Reddy on Friday over the deadly shooting incidents earlier Friday in New Zealand’s Christchurch City.

In his message, Xi said he was shocked to learn about the serious shooting incidents which have caused heavy casualties.

On behalf of the Chinese government, the Chinese people and in his ow

n name, Xi expressed deep sympathy with and sincere condolences to the New Zealand gov

ernment and the New Zealand people, while expressing grief for the victims and wishing the injured an early recovery.

Also on Friday, Chinese Premier Li Keqiang sent a message of condolence to New Zealand Prime Minister Jacinda Arder

n, expressing grief for the victims while extending sincere sympathies to the injured and the bereaved families.

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Is the United States about to lose control of its secretive

  The secretive Diego Garcia military base may be 1,000 miles from the nearest continent, but it has all the trappings of a modern American town.

  The troops here can dine on burgers at Jake’s Place, enjoy a nine-hole golf course, go bow

ling or sink a cold beer at one of several bars. The local command has nicknamed the base the “Footprint of Freedom.”

  But while cars here drive on the right side of the road, this is not

American soil: It is, in fact, a remote remnant of the British Empire.

  That is because in 1965, in the middle of the Cold War, the Unite

d States signed a controversial, secret agreement with the British government to lease one of the

60 or so Indian Ocean atolls that make up the Chagos Islands to construct a military base.

  That deal was secret because the UK was in the process of dec

olonizing Mauritius, of which the Chagos archipelago was a dependency.

www.shangjianxiachui.cn

Economist offers insights on China’s global growth

When the whole world is searching for a therapy to calm the anxiety arising from economic slowdown, China, the most important global growth engine, provides its

routes to maintain vitality – through supportive macro policies and technology-driven innovation.

That point of view was shared by Zhu Min, an influential Chinese economist and a former deputy managing director of the Intern

ational Monetary Fund. He sat down for an exclusive interview with China Daily, when international media desi

re to learn the reasons for China’s 2019 economic performance at the ongoing annual two sessions in Beijing.

“We did a study that estimated China will continue to have more than 6.3 or 6.4 percent growth this year,” he predicted.

Even if the pace of growth moderates from last year’s 6.6 percent, China is able to m

aintain the strongest economic engine and contribute more than 30 percent of the worl

d’s GDP growth, said Zhu, who is now the chair of the National Institute of Financial Research at Tsinghua University.

ax142.cn

Once implemented, the law will replace three existing

 laws on Chinese-foreign equity joint ventures, non-equity joint ventures and wholly foreign-

owned enterprises, which were mainly legislated between 1979 and 1988 and then revised.

“The draft law reflects experience on foreign investment governance that China has accumulated over the past decade, and

it sets up a comprehensive basic law framework that resonates well with China’s current situation in attract

ing foreign investment,” said Cui Fan, a professor at the University of International Business and Economics.

“When the three old laws were made, foreign investment came to China mainly because of t

he low human resources cost, but now China’s huge market potential is much more alluring.”

In addition, as globalization goes further, competition between countries and regions is intensifying, which has indu

ced China to further adjust laws and regulations to create a better environment for foreign investment, he said.

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