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lower-income－some growing and others not) developing countries will be of huge importance in red
ucing poverty further. Although these countries face significant headwinds, they could also seize imp
ortant new growth opportunities－especially with the help of digital platforms.
The headwinds are certainly considerable. For starters, advances in digital technolo
gies－robotics, machine learning, sensors, and vision－directly threaten the labor-intensive manu
facturing and assembly upon which lower-income, nonresource-rich economies have traditionally relied.
Moreover, climate change has had its greatest economic impact on the tropical and subtropical regio
ns where most of the lower-income countries are located. The effects of global warming are highly disrup
tive in fragile economies, and, taken together, constitute a major new obstacle to growthle
integration－trade, investment and finance－began benefiting large emerging and developing econ
omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m
ust also serve poorer and faster-growing economies, which today account for most of the global growth.
So, by flirting with trade protectionism and punitive tariffs on imports, adva
nced economies are seeking to implement the wrong policies at the wrong time. As the adv
anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco
nomies is not a win-lose game, because it benefits the advanced economies, too.
In the aftermath of the 2008 global financial crisis, all major advanced econom
ies would have faced another Great Depression without the support of large emerging economies, particularly Ch
ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.
future for mankind in his speech at the headquarters of the United
ations in September 2015, and in his report for the 19th National Congress of the Communist Par
ty of China in October 2017, Xi has pledged on different occasions to build a peaceful, safe, prosperous, open, inc
lusive, clean and beautiful world to let the sunshine of a community of shared future for mankind illuminate the world.
The world, which is going through a phase of adjustment that fea
tures huge development and fundamental changes, faces great and unfamiliar turbulent situ
ations — the overall trends of peace and development are irreversible, while instabilit
y and uncertainty are prominent. Some problems and challenges are unprecedented, and the int
ernational community faces crucial choices concerning the future of the world and the fate of humanity.
Hainan provincial health authorities have revoked Boao Yinfeng Healthcare International H
ospital’s business license, for illegally administering HPV 9-valent vaccines, according to a statement Sunday.
Located in the Boao Lecheng International Medical Tourism Pilot Zone, the hospit
al has since January last year vaccinated 37 customers with HPV 9-valent, charging each 9,000 yuan.
They did so without obtaining an official vaccination outpatient license, said the statement.
It said the local health commission of Qionghai, where the Boao pilot zone is loc
ated, on April 18 issued the hospital a notice of penalties, including a warning, confiscati
on of illegal income, a fine of 8,000 yuan, and a revocation of its business license as a medical institution.
ancing needs, sustainable development and debt sustainability, according to Finance Minister Liu Kun.
“We will build a high-standard and high-quality financing system to s
upport long-term and sustainable BRI investment while preventing debt risks,” Liu said.
He suggested promoting financing cooperation for projects in
third-party countries, equity investment and attracting more private funding.
Enhancing debt and risk management is a key consideration for deepening BRI financi
ng cooperation, said Yi Gang, governor of the People’s Bank of China, the central bank.
“The debt issue in developing countries should be treated objective
ly. If debt growth is accompanied by infrastructure improvement, enhancement of people’s liveliho
ods and productivity and poverty reduction, it will be beneficial for the sustainability of long-term debt,” Yi said.
China and the European Union have committed to achieving major progress this year in negotiations for a high-level bilateral in
vestment agreement with a view to concluding the ambitious accord next year, according to a joint statement.
The two sides pledged to widen market access, eliminate discriminatory requireme
nts for foreign investors and establish a balanced investment protection framework, according to a joint statem
ent issued after the China-EU leaders’ meeting held in Brussels, Belgium, on Tuesday.
Premier Li Keqiang, European Council President Donald Tusk and Eur
opean Commission President Jean-Claude Juncker co-chaired the annual meeting and reach
ed consensus on a wide range of issues, including bilateral ties, global challenges and governance.
They committed to building an economic relationship based on openness, nondiscrim
ination and fair competition, ensuring a level playing field, transparency and mutual benefit, the statement added.
Two-way trade between the EU and China reached more than $682 billion last year. The E
U is China’s biggest trading partner, and China is the EU’s second-largest trading partner.