In Forbes’s ranking, 309 of the world’s top 2,000 largest publ

 public companies are from the Chinese mainland and Hong Kong.

The United States has 575 companies, the most among the 61 countries and regions involved in the ranking.

Japan is third-largest contributor, with 223 companies joining in the list.

This year marks the 17th release of the Global 2000 ranking since it was first published by Forbes in 2003, when the Unite

d States was home to 776 companies in the list while the Chinese mainland and Hong Kong only had 43.

Industry-wise, banks and diversified finance make

up most of the list, with 453 companies appearing on it, followed by tech ind

ustry and construction industry, with 184 and 123 companies on the list, respectively.

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Uber has also weathered controversies including revelati

ions of a culture of sexism and bullying at Uber and US Department of Justice investigations. After a series of embarrassments, Kalanick was forced to res

ign in 2017 by a group of investors. Uber then hired Khosrowshahi to lead the company.

Uber has said it has the potential to grow not just in the cab hailing business, but also as a “sup

erapp” to provide logistic services, such as grocery and food delivery, organizing freight tra

nsportation, and even financial services, much like Grab, its Southeast Asian counterpart.

But market experts have struggled to find value in a company that has consistently posted los

ses, and warned that it may never be profitable. “The business is unprofitable, new entrants can enter the ma

rket, there is potential regulatory risk, and it is very price sensitive. What is there to like about this opportunity?” Ro

bert Johnson, professor of finance at Heider College of Business, Creighton University in Omaha, Nebraska said.

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US policy has done a disservice to the international com

munity’s efforts to advance the Middle East peace process and the remarks by the president’s son-in-law and a

dviser Jared Kushner indicating that an upcoming US peace plan does not include a two-state solution with the Palestinians sh

ows the US is hoping to undermine the international consensus built on that premise. Given its complex and chronic nat

ure, there is no quick remedy to the decades-old enmity between Israelis and Palestinians. But both sides need to exe

rcise the utmost restraint so as to avoid sparking another vicious circle of violence.

Meanwhile, the latest bloodshed should convince the inte

rnational community of the urgency of finding a way to resolve the Israeli-Palestinian co

nflict. The US is in no position to act as mediator, but it should avoid doing anything to make the situ

ation worse. And notwithstanding the US stance, the consensus on a two-state solution needs to be shored up and grea

ter efforts need to be made to resolve the Palestinian-Israeli issue through dialogue and negotiations.

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“It is the predictability, transparency and nondiscr

rimination bent of the law which, in my view, will lead to a significan

t inward flow of foreign capital in key services and advanced manufacturing sectors,” he said.

Overholt said “the list of issues that President Xi has addr

essed are the issues that the business community is concerned about”.

“It is excellent that President Xi recognized some problems,” especially those associated with its Belt and Road Ini

tiative, such as transparency and corruption, said Craig Allen, president of the US-China Business Council.

Experts also were interested in how the reform policies and laws would be implemented, something Xi addressed in his speech.

“People are very positive about the direction, but they need t

o know the details” of how the promises would be delivered, Overholt said.

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Manufacturing remains in expansion territoryoducts at

The growth of manufacturing activity in China eased in April but remained within expansion territory, adding to the confidence that the country’s economy is stabilizing.

The purchasing managers index for the country’s manufacturing sector came in at 50.1 in A

pril, slightly down from 50.5 in March, the National Bureau of Statistics said on Tuesday.

A reading above 50 indicates expansion, while one below it reflects contraction.

Senior NBS official Zhao Qinghe said in a statement that factory activity continued a steady ex

pansion in April, with the subindexes for production and for new orders standing respectively at 52.1 and 51.4. T

he readings are slightly lower than those in March, but they are higher than the average performance of the first quarter.

“Market demand is driving a stable growth in production,” Zhao said, adding strong growth in e

merging industries, such as high-tech and equipment manufacturing, also contributed to the steady performance.

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Guests share thoughts on president’s speech

What impressed me most is that President Xi highlighted the importance of sustainable d

evelopment. The hosting of the Horticultural Expo is the best chance to raise people’s attention to the conce

pt of sustainability, both in China and around the world.President Xi outlined his commitment to open and gre

en development as well as underlined China’s dedication to conserving the ecosystem now and for generations to come.

Xi’s call for countries to work together for the common goal o

f improving the global ecosystem aligns well with the Paris Agreement. This is an excellent foll

ow-on from the commitment outlined in the communique from the Belt and Road Forum.

In this communique, to which the UAE is a signatory, countries ag

reed that cooperation will be open and clean, with green development promoted.

The expo attracted widespread global participation, and I think everybody will recog

nize China’s vision in green development and its resolve to build a green future.

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hinese prize for quantum research announced

A total of 12 million yuan ($1.78 million) of cash will be granted to 12 international scientists for their

groundbreaking academic contributions to the fields of quantum computation and quantum com

munications, according to a press release by the newly founded Micius Quantum Foundation on Friday.

With a combined donation of 100 million yuan from Chinese entrepreneurs, the foundation based in Hefei, East China’s Anhu

i province, will give each of the six annual laureates one million yuan. The foundation, a non-profit organization, ai

ms to promote development of quantum information science and technology.

The Micius Quantum Prize’s 2018 and 2019 laureates were announ

ced at the same time, as selection of first-year nominees took longer than expected, said Luo

Yi, president of the foundation and a scientist from the University of Science and Technology of China, based in Hefei.

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The latest official tone came from central bank’s D

puty Governor Chen Yulu over the weekend. He reassured that monetary policy will remain “p

rudent” and “with proper intensity”. The growth of broad money supply (M2) and aggregate social financi

ng should align with nominal GDP growth, according to a statement on the central bank’s website.

The deputy governor delivered a speech at the 39th mee

ting of the International Monetary and Financial Committee in Washington.

Chen also stressed that the further improvement of the exchange rate regime wo

uld “keep the renminbi exchange rate generally stable at an adaptive and equilibrium level”.

Lu Ting, chief economist in China with Nomura Securities, wrote in a research note that de

spite solid credit growth, underpinned by ongoing monetary and credit easing measures, the government is u

nlikely to engineer another long and large-scale “credit boom” due to much narrower policy room than before.

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The fans have done well to find Free Sound, for it i

is a shoebox of a shop tucked away in a small alley in downtown Beijing. And those who do find it will qui

ckly be disabused of the quaint notion that old-style phonographic recordings have gone the way of the dinosaur.

nstead the 100-square-meter shop prides itself on being an independent distributor of vinyl records and other musical recordings.

In the basement Yang greets his fans, who have already bought the new album, either as vinyls or cassettes.

“I am impressed by the cover design of the new album,” says a rou

nd-faced young man with black-framed glasses. “It’s usually the first reason for me to buy an album.”

The experimental cover design of P.K 14’s latest album is a depart

ure from its previous use of paintings or photographs and was completed b

y the band’s drummer, Jonathan Leijonhufvud, along with two other designers and YVMIN Studio, a Beijing outfit that handled the 3D vi

sual aspects. Playing with the illusion and contrast of true and false, the cover is a 3D rendering layered on top of an im

age. The two overlap, adding dynamism to the experiment, reflecting the way the band’s 11 new songs are structured.

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Senior Colonel Zhou Bo, director of the Center for Secur

Cooperation at the ministry’s Office for International Military Cooperation, said that comp

ared with other branches of the military, the PLA Navy plays a relatively larger role in protecting China’s overseas inter

ests and maintaining security in key sea lanes such as the Gulf of Aden and waters off Somalia.

“The PLA Navy is at the forefront of proving that the Chinese milita

ry is an open, cooperative and competent force for peace,” he said, adding that the PLA Navy has f

requently participated in humanitarian rescue missions, naval escorts, joint exercises and exchanges in past years.

“Through these non-war military operations, the Chinese Navy has also improved its capability and operability in dis

tant waters,” Zhou said. “Many security issues around the world require global efforts, and as its capability impr

oves, the PLA Navy can play a bigger part and contribute more to global maritime security.”

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