Such studies must aim to make it clear why the CPC coul

ld shoulder the historical responsibility of leading the people in realizing national indep

endence, people’s liberation, national prosperity and happiness for the people, Xi said.

By doing so, it should be made clear why socialism has taken root and continues to improve and de

velop in China so as to guide people to draw lessons and wisdom from history, and foster stronger confi

dence in the path, theory, system and culture of socialism with Chinese characteristics, he added.

He called for in-depth studies of the great significance of patriotism, progress, democracy and science advocated in the movem

ent so that its spirit can motivate young people to make unremitting contributions to national rejuvenation.

Xi also underscored the importance of responding to why the theme of contemporary Ch

inese youth movements should be to strive to achieve the Chinese Dream of national rejuvenation, require all aspects of socie

ty to care for and serve the youth, and also create a sound environment for them to develop, innovate and undertake pioneering work.

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Xi’s remarks will guide younger generations in taking his

tory as a mirror, and combining their personal ideals with the dream of national rejuvenation, Hu Xianzhong, a senior re

searcher at the China Youth and Children Research Center, said in an article published by China Youth Daily on Sunday.

Since the movement began nearly a century ago, the country’s youth

has been collectively marching with the times and the people under the leadership of the C

PC-whether in periods of revolution, construction, or in the nation’s campaign of reform and openingup, Hu said.

As the centenary of the movement draws near, a good understanding of its history will make yout

hs know more about why their futures are closely connected with the rejuvenation of the Chinese nation so that

they will find their niches and play bigger roles in the country’s socialist cause, he added.

Chen Yuhao, a postgraduate student at the U

niversity of International Business and Economics, said the spirit of patriotism, progress, democracy and s

cience is still the core value of Chinese youth, and should be upheld and carried forward in the new era.

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Specifically, the draft likely will and should feature key

 reforms to foster an investor-friendly legal system, represented by strengthened information disclosure, prot

ection of investors’ rights and interests, and crackdown on legal breaches, Liu said.

China must promote the healthy development of the capital m

arket through key institutional innovations, the Political Bureau of the Communist Part

y of China Central Committee, the Party’s core leadership, said a statement released after a meeting on Friday.

Dong said the revised law is likely to be adopted by the end of the first half of the ye

ar, adding it is imperative and possible to expedite rolling out the revised version.

“Previously, controversies over the registration-based IPO system reform ha

ve prolonged the revision process, but now this factor has been largely lifted,” he said.

“As foreign investors are set to play a bigger role in China’s capital

market development, the revised law should also consider clarifying the rights and oblig

ations of overseas investors, to help them form a stable policy expectation,” said Xue Yi, an associate p

jsLongsun.com

China releases report on progress, contributions and pro

China on Monday published a report elaborating on the progress, contributions and prospects of the Belt and Road Initiative (BRI).

The document, prepared by the office of the leading group for promoting the BRI, was released ahead

of the second Belt and Road Forum for International Cooperation to be held from April 25 to 27 in Beijing.

The Belt and Road Initiative is an initiative for peaceful

development and economic cooperation, rather than a geopolitical or military alliance, said the rep

ort. “It is a process of open, inclusive and common development, not an exclusionary bloc or a ‘China club’.”

“It neither differentiates between countries by ideology nor plays the zero-sum

game. Countries are welcome to join the initiative if they so will,” according to the report.

The BRI has turned ideas into actions and vision into reality, and i

tself into a public product widely welcomed by the international community, the report said.

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Meanwhile, massive rescue operations are underway at

the explosion sites, the police said.Television footage showed ambulances r

ushing the injured to the Colombo National Hospital, the Batticaloa Hospital in

the east and the Negombo Hospital on the outskirts of the capital where the explosions took place.

There has been no claim of responsibility so far for the multiple blasts.

In just one church, St. Sebastian’s in Katuwapitiya, north o

f Colombo, more than 50 people had been killed, a police official told Reuters.

Media reported 25 people were also killed in an attack on a church in Batticaloa in Eastern Province.

Prime Minister Ranil Wickremesinghe called a national security council meeting at his home for later in the day.

One of the explosions was at St Anthony’s Church in Kochcikade, Colombo.

St. Sebastian’s church posted pictures of destruction inside the church on its Fa

cebook page, showing blood on pews and the floor, and requested help from the public.

Out of Sri Lanka’s total population of around 22 million, 70 percent are Buddh

ist, 12.6 percent Hindu, 9.7 percent Muslim, and 7.6 percent Christian, according to the country’s 2012 cen

zzyosj.cn

A PLA Navy carrier battle group sails in formation. en active in

The Chinese People’s Liberation Army Navy has been active in pr

oviding security products for the international community since its founding, Qiu said.

The navy has paid over 100 visits to 94 countries and 138 ports, and has held more th

an 60 joint military drills with foreign navies over the 70 years, according to Qiu.

Since 2008, the navy has sent 32 escort fleets, 103 vessels, 69 helicopters and more than 27,000 officers and soldiers to escor

t over 6,600 vessels, more than a half of which were foreign merchant ships, he added.

Since 2010, the naval hospital ship Peace Ark has traveled to 43 countries and regions and provided free medical servi

ces to over 230,000 people, Qiu said.Under the current IPO system, new shares are subject to approval from t

www.fanxgq.cn

Politburo upbeat on economic datag Motors on the assem

China’s economy grew better than expected in the first quarter and market confidence was raised in

an outstanding way, according to a statement from a meeting presided over by President Xi Jinping on Friday.

During the meeting of the Political Bureau of the Communist Party of China Central

Committee, members analyzed the current economic situation and made plans for economic work.

In the first quarter, government departments pushed forward high-quality growth, deepene

d supply-side structural reform and carried out positive fiscal policy and stable monetary policy, the statement said. Main mac

roeconomic figures were in proper range, and reform and opening-up was pushed forward continuously, it said.

The statement said lots of difficulties and problems remain in economic development, with m

ore tension in the external economic environment and downward pressure on the domestic economy. Government departments shou

ld remain steadfast and be brave in overcoming difficulties in economic development, it said.

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Other revisions in the draft are made in light of new

progress of reforms and new developments of the capital market.

A draft amendment to the law was previously submitted to the top legislature for first reading

in April 2015, mainly to meet the legislative demand of reforming the IPO system toward a registration-based one.

The first draft also improved rules on developing a multi-layer capital market system, strengthen

ing investor protection, promoting securities industry innovations and enhancing regulation.

New revisions were submitted for a second reading in April 2017 to im

prove regulation on such areas as stock trading, acquisitions of listed firms, information disclo

sure and investor protection. The second draft also demanded the State Council to gradually advance the IPO sys

tem reform in accordance with authorization granted by the top legislature.

www.zzyosj.cn

Walmart banks on tech innovationn escalator in a Walmart

US retail giant Walmart Inc will continue to grow its hypermarkets, Sam’s Club stores, and community-ba

sed smaller-sized supermarkets businesses in China with more advanced technologies, according to a top official.

Doug McMillon, president and CEO of Walmart, told China Daily during his visit to Shanghai on Thursday that China is still one of

the most important markets for the US retailer. Technology will be another major focus area for the com

pany in China as Walmart has always been a “people-led company that relies heavily on technology,” he said.

McMillon said Walmart has developed digital solutions to better u

nderstand customer behavior and spending patterns, which in turn has helped the ret

ailer to create new products and to solve old retail problems with modern technology.

Wern-Yuen Tan, president and CEO of Walmart China, said digital technology has hel

ped Walmart to reach out to more customers and improved the overall decisionmaking process.

www.njLongrun.cn

Wang, the Chinese think tank member, said many of

nternational relations scholars of his generation think of the US

as an example of the value of “freedom, democracy, fairness and human rights”.

“But those words are no longer applicable to describe the US today,” he said.

Wang said that for him, cancellation of the visa is nothing m

ore than a short-term absence from US academic activities, and “it is the US’ loss, not ours”.

He also said the decision would not affect the Chinese think tank he leads in continuing aca

demic exchanges with the US, and he suggests that China should not take countermeasures over such matters.

“No matter how petty the US becomes, China should still stick to its open attitude rather compete for who’s worse,” he said.

The China-proposed Belt and Road Initiative is not a geopolitical tool or a debt trap for particip

ating countries, but a platform for cooperation, State Councilor and Foreign Minister Wang Yi said on Friday.

Wang made the remark at a press conference ahead of the second Belt and Road F

orum on International Cooperation, which will be held in Beijing next week.

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