Monthly Archive March 2019

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China becomes second-largest source of ‘unicorn com

China has become the world’s second-largest source of “unicorn companies” accordi

ng to the latest report on China unicorn companies by the Evergrande Research Institute.

With 88 in total, China is the world’s second-largest source of unicorn compani

es following the US with 151. The report cited data from IC Insight gathered between 2013 and Dec 31, 2018.

Twenty-two companies worldwide were included as super unicorn companies in 2018 and C

hina’s Fintech company Ant Financial ranked first in value worth $150 billion, the report said.

The US and China had the greatest number of new sup

r unicorns worth $10 billion last year with 12 and 7 respectively, accounting for 86.4 percent of

the world’s total. The UK, India and Singapore had one of these companies each in the same period.

New energy vehicles, artificial intelligence chips, robots, big da

ta, computer vision and cloud computing are the main areas for these emerging unicorns.

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Hainan’s hybrid seeds sprout along Belt, Road

Island province ‘will ensure’ that Boao Forum continues to promote cooperation

The international exchanges and cooperative efforts prompted

by the Boao Forum for Asia are turning Hainan province into the Silicon Valley of seeds for co

untries involved in the Belt and Road Initiative, according to a Hainan government official.

More hybrid rice seeds cultivated by Chinese scientists at the Nanfan Scientific and Rese

arch Breeding Base in Hainan are being introduced to ASEAN countries. The total combined area of hyb

rid rice cultivation in India, Vietnam, the Philippines, Pakistan and Indonesia – major rice-growing countries – has reac

hed 4.28 million hectares, said Wang Sheng, director of the Foreign Affairs Office of Hainan province.

Wang spoke at a news conference on March 19 before the Boao For

um for Asia 2019 Annual Conference in Boao, Hainan, which ends on Friday.

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We have sent farming experts to hybrid rice growing are

s overseas, and we give local farmers guidance, training and planning for future develop

ment,” said Xie, who has worked as an expert in Vietnam, Myanmar, Cambodia and Gambia.

Under the Boao Forum framework, Hainan has created a series of subforums, such as the

ASEAN-China Governors/Mayors Dialogue, the 21st Century Maritime Silk Road Island Economy subforum, the South China Sea su

bforum, the Roundtable Discussion for Overseas Chinese Business Leaders and Chinese think tanks, Wang said. “These diplo

matic platforms serve as new bridges to promote practical industrial cooperation between BRI countries.”

Activities at the Boao forum this year will highlight land and sea interconnectivity betwee

n BRI countries. Invitations will be sent to overseas participants to share in building a pilot free trade zone in Hainan.

Hong Kong youth groups will be invited to Hainan to see space satellite launch facilities, deep-sea science and techn

ology, seed breeding and other fields. Invitations will be extended to young people from ASEAN countries, Lanc

ang-Mekong river nations and BRI countries to promote people-to-people understanding, Wang said.

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onfidence to tackle technology challenges risings better

Chinese business leaders are more confident and prepared in addressing the challenges brought by new technologies than

those in many other countries, said Cindy Hook, CEO of Deloitte Asia-Pacific, a global consultancy firm, on Thursday.

While many business leaders in the rest of the world take a protective approach to using technologies, Ch

ina’s leaders would like to “disrupt their sectors” and facilitate real changes, Hook said on the sidelines of the Boao Forum for Asia.

“Chinese enterprises are looking at the technologies available-whet

her it’s artificial intelligence, big data or the like-to actually come up with whole-new busi

ness models and whole-new approaches to doing things, not just improving the old processes.”

With the readiness for technologies, China is likely to lead on many aspects of the unfol

ding Fourth Industrial Revolution, such as e-commerce, smart cities and the internet of things, Hook said.

The country’s impact on the revolution will be enlarged by its opening-up determina

tion, she added, citing the fresh opening-up measures announced by Premier Li Keqiang at the forum on Thursday.

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Liu, the spokesman, said the ministry dispatched a team co

nsisting of 49 experts from institutes affiliated with the ministry and universities

, including Tsinghua University, to the site to help with the environmental aftermath from the explosion.

He also said the team has cut off the access of three rivers to Guanhe River, which empties into the sea, to prevent the pollution from spreading.

The three rivers inside the chemical industry park wer

e found contaminated soon after the blast. On Wednesday, an excessive amount of pollutants was still de

tected in two water bodies in the chemical park — the Xinfeng River and Xinnong River.

According to the Jiangsu environmental watchdog, the density of ammonia nitrogen in Xinfeng River reached 183 millig

rams per liter, 90.5 times higher than the national standard, at 10 am on Wednesday. The content of methylene chlor

ide in the river was about 15 times above the national standard with a density of 0.321 mg/L. The ch

emical oxygen demand in the water body stood at 343 mg/L, 7.6 times above the national standard, the watchdog said.

The watchdog also found an excessive amount of these pollutants in Xinnong River, though with much lower densities.

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After a two-hour hearing on Wednesday, the top court up

held the original ruling, and said the two companies should stop their infringement immediately.

The Shanghai IP Court will further calculate the exact amou

nt of compensation that the two Chinese companies should pay to Valeo, accor

ding to the verdict. During the first trial, Valeo had requested compensation of 6 million yuan ($893,000).

Wednesday’s trial is of great significance as it shows China’s growing efforts in protecting IPR, the top court said in a release.

“It shows the country’s strong determination in fighting infringement, and intensif

ied judicial protection for IPR and innovation-driven development,” said Ma Yide, an intel

lectual property professor from Zhongnan University of Economics and Law who attended the hearing.

The final verdict was reached only two months after the original one.

Such a fast pace reflects improved efficiency in handling IP-related lawsuits in Chinese courts, he said.

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The improvement is attributed to the establishment of a nati

national-level IP court under the Supreme People’s Court on Jan 1, which has strea

mlined the appeals process and helps prevent inconsistency in legal

applications, Ma said.

With such a national-level IP court,

litigants who disagree with the verdicts of local cou

rts at the city level or local IP courts can appeal directly to the top court instead

of appealing to provincial-level courts.

Under previous procedures, the two Chinese companies could not have appealed

to the top court directly but would have had to go to the Shanghai High People’s

Court after the first verdict.

Guan Yuying, an IP researcher at the Chinese Academy of Social Sciences, said

a streamlined litigation process and more p

rofessional judges for IP-related lawsuits will help ensure the judicial quality of

such complicated patent cases.

Wednesday’s trial was heard by a five-judge panel led by Luo Dongchuan, vice-

president of the top court and the chief judge of its IP court.

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The study shows that nearly 20 large enterprises have spli

their business by locating the post-Brexit hub for one division in Frankfurt or Paris, and another in Dublin or Lux

embourg. The most obvious example is Bank of America Merrill Lynch, which has chosen Dublin as the EU hub for its bank

ing business, and created a new entity in Paris, which will be the hub of the its markets business.

Kieran Donoghue, the global head of international financial services, strategy and public

policy at IDA Ireland, an agency responsible for attracting foreign investment into that country, attributed the “m

ultipolar” scenario to the fact that no single financial center in Europe has the full and unique set of capabilities that London has.

“What makes London unique is that it has such a deep and broad set of capab

ilities in servicing the insurance, the asset management, and the investment banking industries, and none of t

he European financial centers has the same range of capabilities that currently reside in London,” Donoghue explained.

Nearly half of asset managers, hedge funds, and private equity companies in the re

port have chosen Dublin as the location for their post-Brexit operations, while more banks have chosen Frankfurt as th

eir main EU hub. Many are also expanding their markets business in Paris or adding staff in Amsterdam, Madrid, or Milan.

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Former vice-minister of public security expelled from Party

Taking a step requires just one second for a typical person. But not for Gao Ziren, whose paral

yzed left leg requires him to first move a crutch forward before his leg, and then balance himself.

For 42 years, Gao, a teacher at Lixin village primary school in a mountainous area of East China’s Jiangxi province, has walked th

is way between his home, the school and his students’ homes. Over the course of his career, he has worn out more than 60 crutches.

Gao, 60, was born in a mountainous area of Meiling township, Wanli district of Nancha

ng. After coming down with polio at the age of 1, his left leg suffered muscular atrophy, which left him unable to walk normally.

He did not give up, relying instead on his mental strength to finish his studies from primary school through high school.

He started his career in 1977 when a village official visited him about being a teacher in the village, as one of the two teachers the

re had left. Gao agreed to take the position, as he knew the importance of a teacher to students, especially those like him.

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Zhang Zuhao, a sixth grade student, used to misbehave and h

ve and have little interest in his studies, not even finishing homework. In order to change his

attitude, Gao Ziren visited his home every weekend, talking with his parents about the importance of studying.

Zhang Guangxing, Zhang Zuhao’s father, still remembered when Gao Ziren first visited

his home. Because of Gao’s insistence, the parents paid more attention to the child’s studies.

Gao Ziren said that because he walked slowly, it was too late for him to visit stud

ents’ homes after school, and therefore, he visited them on the weekends.

Now, many children follow their parents to live and study in cities, while som

e become left-behind children who live in rural areas and lack family care. Gao said it w

as important to be patient with left-behind children and pay more attention to their mental health.

Gao Xinyue, a second grade student who lives with her grandparents because her paren

ts work outside the rural area, was reticent and very timid when she first came to the school, performing poorly in her studies.

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