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eign exchange reserves at $3.095 trillion at the end of April. The reserve amount was stable, altho
ugh it slightly retreated from $3.098 trillion at the end of March, according to the State Administration of Foreign Exchange.
Li Yang, director of the National Institution for Finance and Development of the Chinese Academy
of Social Sciences, said that China is unlikely to sacrifice foreign exchange reserves to de
fend its currency, even if depreciation pressure rises amid any escalation in trade tension.
In May, the offshore RMB exchange rate against the US dollar dropped more than 3 percen
t 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 Monday that higher US tariffs on Chin
a’s imports triggered financial market volatility, and this also affected the offshore RMB.
At least four deaths have been blamed on crowding during the climbs, Agence France-Presse reported.
People should be well prepared to handle Qomolangma’s traffic jams which are common phenomena along climbing paths, said alpinists who had reached the summit.
“Although the news about the jam on Qomolangma this year has gone viral, people should understand that it happens every year during the brief cl
imbing window. Knowing what to do when climbers jam the narrow paths should be incl
uded in their training well in advance,” said Ma Liyamu, who reached the top of Qomolangma, the world’s ta
llest mountain at 8,848 meters, on May 22 and was also held up by the crowds on her descent.
She is the leader of a mountaineering team of three Chinese women w
ho scaled Qomolangma. They launched their expedition from Nepal, which issued 381 cli
mbing permits for the season that concludes this week. Nepal’s permits this season cost $11,000 each.
resident’s message calls for tackling legal, security, governance challenges
President Xi Jinping called on Sunday for strengthened cooperation among countries to explor
e opportunities of digital, internet-based intelligent development and to properly address leg
al, security and governance challenges arising from big data industry development.
He made the remarks in a congratulatory letter to the China Intern
ational Big Data Industry Expo 2019, which kicked off in Guiyang, Guizhou province.
The new generation of information technology, represented by the
internet, big data and artificial intelligence, is booming at present and has significant and
profound influence on various countries’ economic development, social progress and people’s lives, Xi said in the letter.