Sandrine

Move shows Beijing’s resolve to safeguard its interests

China said late on Monday that it will increase tariffs on the bulk o

$60 billion of US imports to three categories of rates between 10 percent and 25 percent.

For the rest of the US imports, the duty rate remains at 5 percent, acc

ording to a statement released by the Customs Tariff Commission of the State Council.

The tariffs will hit around 5,000 products such as food, chem

icals and auto parts, and are due to take effect on June 1, the commission said.

In a separate statement on Monday, the commission said i

t will be open to tariff exemption applications for part of qualified US imports.

This is China’s latest response to the additional US tariffs on $200

billion of Chinese goods, which were implemented on Friday morning.

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We believe that these things are major issues of prin

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.

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parking lots, they have to park their electric bicycles in corrido

ors that are often crowded with them as well as other items. Should a battery ignite, the fire will spread quickly.

Many owners like to place electric bicycles in the entrances, stair

wells, basements of the buildings they live in so they can charge the batteries overnight, but t

his practice blocks the escape routes, causing the tragic consequences of fires resulting in many deaths.

The results of professional fire tests show that in a relatively enclosed envir

onment, the battery of an electric bike can burn at 1,200 C within three minutes, and the toxi

c gas it produces can spread from the basement of a building to the sixth floor in 10 minutes.

There are regulations forbidding people to park or charge electric bikes in public areas such as sh

ared walkways, stairwells, and emergency exits, yet the ban is often ignored because the electric bik

e riders need the vehicles for transportation and they cannot find any other place to charge them.

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China’s determination to expand opening-up and the ong

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.

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Detailed information on the foundation and the laurea

Peng Yuxing, vice-governor of Southwest China’s Sichuan province, is under disciplinary and supe

rvisory investigation for suspected severe violations of disciplines and laws, an official statement said Sunday.

The investigation is being conducted by the Communist Party of China Central Co

mmission for Discipline Inspection and the National Supervisory Commission.

Peng, a Sichuan native, was born in 1962. He graduated from Sichuan University with a master’s degree in 1985 and in July 1992 r

eceived his science doctorate from Pierre and Marie Curie University in Paris, specializing in polymers and materials.

He pursued a postdoctoral degree at ExxonMobil Chemical France from July 1992 to December 1993.

Peng then served in leadership positions at the Chengdu Institute of Organic Chemistry under the Chinese Academy of Sciences from 1997 to 2009.

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