介绍:
World Bank lowers projection for 2014 global economic outlook
The World Bank has lowered its projection for this year's global economic outlook, as developing countries are heading for "disappointing growth," while high-income countries are gaining momentum.
The Washington-based bank forecasts the global economy to grow 2.8 percent this year, down from its January estimate of 3.2 percent.
According to its twice-yearly Global Economic Prospects report, bad weather in the United States, the crisis in Ukraine and rebalancing in China slow progress on structural reform.
The bank has lowered its forecasts for developing countries to a growth of 4.8 percent this year, down from its January estimate of 5.3 percent.
China is expected to grow 7.6 percent this year, slightly down from its January estimate of 7.7 percent, but the bank says this will depend on the success of rebalancing efforts.
China saw sustained fiscal revenue growth this May
China's government revenue continued to grow in May, reaching nearly 1.4 trillion yuan, or around 220 billion U.S. dollars.
That represents a growth rate of over 7 percent from the same period last year.
Tax revenue stood at just over 1 trillion yuan, up some 6 percent year on year.
But compared with the first four months of the year, growth in May appears to be slowing.
Liu Shangxi, an official with the Ministry of Finance, explains.
"It reflects changes from several aspects. One is that economic growth is slowing down, and revenue growth is slowing with it. The other issue is revenue reform. Then, there are policies like tax reductions related to employment. So the economic factor, the reform factor, and the policy factor together have slowed revenue growth."
However, he notes the slowing of growth rates can actually promote future economic development, which can be reflected from the structural changes between secondary and tertiary sectors.
In May, revenue from the tertiary sector was more than 11 percent higher and grew 3.4 percent faster than that of the secondary sector.
China to strengthen support for 5G research
China's Ministry of Industry and Information Technology has already turned its attention to the next generation of mobile communication.
The 4G network was introduced to China only last year but the ministry has announced it is stepping up support for research into 5G technology.
The announcement was made at a global forum on mobile telecommunications in Shanghai.
Officials say more than 80 percent of China's internet users surf the 'net using mobile phones.
Alibaba buys mobile Internet business
China's largest e-commerce company Alibaba Group is to buy all the remaining shares of mobile browser firm UCWeb in the biggest merger in Chinese internet history.
The e-commerce giant is stepping up its spending spree ahead of its U.S. listing.
Alibaba's latest deal will be larger even than Baidu's 1.9 billion US dollar acquisition of 91 Wireless last year.
Alibaba has finished a string of investments totaling 4.8 billion dollars in the past six months.
Alibaba's investment in UCWeb emphasises the company's push to do more business on mobile in the world's biggest smartphone market.
UCWeb has said the mobile search service has a market share of more than 20 percent.
What's Next After the $400 Billion Deal?----China-Russia Relations On the Spotlight
Anchor:
Politicians and analysts have gathered in Washington, DC to discuss what they call the "triangular" relationship between China, the United States, and Russia.
The seminar follows the signing of a 400-billion US dollar natural gas deal between China and Russia.
CRI's He Fei has more from Washington.
Reporter:
China and Russia clinched the 30-year gas export deal a few weeks ago.
The final agreement has been reached after 10 years of negotiations over pricing.
Many observers feel the Russian side was motivated to get the deal done as quickly as possible, given its natural gas dispute with Ukraine, and subsequently, Europe.
Attending a conference on current global dynamics, Zbigniew Brzezinski, the former US national security advisor to President Jimmy Carter, says he believes the economic relationship between China and the United States is still the most important one.
"The Chinese-Russian relationship is not the preeminent global relationship. It is the Chinese-American relationship that is the globally preeminent relationship. But the decline of Russia in that triangular relationship obviously boosts the influences of China, gives China the option of utilizing Russia whenever convenient."
Brzezinski has made the comments at a seminar in Washington that has explored the triangular relationship among China, the US and Russia.
Also at the seminar was Kevin Rudd, Australia's former prime minister.
"China, in doing so, has been simultaneously active and re-affirming the principles which governance relationship with Russia and these are not new but continuing since days of Yeltsin. And that is principles of, first of all, there would be no alliance; second one is that there would be no conflict and the third is not directed to a third party."
Stapleton Roy, a former US ambassador to China who worked in Moscow during the height of the Cold War, says neither China or Russia like a world dominated by a sole superpower.
But at the same time, Roy notes that with trade between China and the US still more than 5-times the volume between China and Russia, China can't afford to completely turn its attention to Russia.
"In terms of modernizing its economy, in terms of the expertise needed, China has largely turned to the Western countries, particularly the United States, not Russia as it did in the past…There is no question that the Sino-Russian relationship at the momen
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