CHINA People's Daily Tonight: Podcast News (5/21/2019 Tue.)

CHINA

People's Daily Tonight: Podcast News (5/21/2019 Tue.)

People's Daily app

19:05, May 21, 2019

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This is People’s Daily Tonight, your news source from China. 

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US’ 90-day temporary general license does not make much sense to Huawei: Ren Zhengfei

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The 90-day temporary general license created by the US does not make much sense to Huawei.

That’s according to company founder and CEO Ren Zhengfei.

He said what the US government does is not something we can control, and this is not a matter of American companies.

He added that Huawei can also make the same chips, which have provided half of its supply.

But he said the company will not exclude US chips. (People's Daily app)

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Trump says disagrees with ruling backing subpoena seeking his financial records

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US President Donald Trump said Monday that he disagrees with a court ruling that backs a congressional subpoena seeking his financial records from an accounting firm.

"Well, we disagree with that ruling. It's crazy because if you look at it, this never happened to any other president," Trump told reporters.

The remarks came shortly after US District Judge Amit Mehta ruled that Mazars USA must comply with the House Oversight and Reform Committee's subpoena for eight years of Trump's financial records, a decision that the president called "wrong".

"As far as the financials are concerned, we think it's totally the wrong decision by obviously an Obama-appointed judge," Trump said, referring to Mehta's appointment by former President Barack Obama. (AP) 

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Sudan's military council, opposition vow to reach deal

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Sudan's ruling Transitional Military Council and an alliance of opposition forces vowed to work together to reach an "urgent agreement.”

This, as their negotiations continue.

They still differ on the representation of the military and civilians in the transitional sovereignty council as well as the chairmanship of the new ruling body.

They agreed that the transition period would be three years, with the first six months to be allotted for achieving peace all over Sudan. (Xinhua)

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China's central bank resumes cash injection

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China's central bank on Tuesday resumed open market operations to inject liquidity into the money market after suspension for five consecutive trading days.

The People's Bank of China (PBOC) conducted 80 billion yuan (about $11.6 billion) of seven-day reverse repos at an interest rate of 2.55 percent.

No reverse repo is due on Tuesday.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

China will keep its prudent monetary policy "neither too tight nor too loose" while maintaining market liquidity at a reasonably ample level in 2019. (Xinhua) 

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Record number of graduates face tough job market entry

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The number of college graduates in China is projected to reach a record high this year.

That would turn an already tough job market into a pressure cooker and would intensify the scramble for talent nationwide.

To many graduates, mega cities such as Beijing, Shanghai and Guangzhou are less attractive because of their high cost of living and greater peer pressure in the job market.

A recent report by the Beijing Municipal Education Commission said more than 231,000 college students graduated in the capital last year, but over a third of employed graduates chose to work outside the capital. (China Daily)

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DJI allays security fears after US issues warning

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Chinese drone manufacturer DJI said safety is at the core of everything the company does, and the security of its technology has been independently verified by the United States government and leading US businesses.

The company's statement came in response to an alert warning issued by the US Department of Homeland Security (DHS).

"We provide all our customers full and complete control over how their data is collected, stored and transmitted. For government and critical infrastructure customers that require additional assurances, we provide drones that do not transfer data to DJI or via the internet, and our customers can enable all the security steps DHS recommends," the Shenzhen-based company said. (China Daily)

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Former F1 champion Niki Lauda dies at 70

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And legendary Formula One driver Niki Lauda has died.

He was 70.

Lauda won the Formula One drivers' world championship three times, in 1975 and 1977 for Ferrari and in 1984 with McLaren.

He had been non-executive chairman at Mercedes F1 since 2012, and was instrumental in bringing in Lewis Hamilton to spark a run of success that has brought five consecutive world drivers' and constructors' championships. (AFP) 

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And that’s People’s Daily Tonight.  Thanks for joining us.

(Produced by David Nye and Wang Xiangyu)

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