roject, including Russia, Egypt and Algeria, and 17 domestic research teams, including on
e from University of Science and Technology of China, have started research on the site, Zheng noted.
The site will “offer research teams with observation equipmen
t, support for outdoor observation and data sharing services”, he said.
Wu Zhongliang, director of the administra
tion’s Institute of Earthquake Forecasting, said the experimental site will help for
m a “united front” at the national and international level to work on earthquake forecasting.
Referring to earthquake forecasting as a hard nut to crack, Wu said the work can
not see marked progress just in a few days, but forecasting capability will be improved a
s technology develops. “If it’s a war between humans and earthquakes, it’s us that will finally win,” he said
s become a driving force behind economic growth, and interne
t companies should concentrate on making breakthroughs in core technologies.
“The country is narrowing the gap with developed countries, especially in autonomo
us driving, cooperative vehicle-infrastructure systems and intelligent transportation. We started a little late, but o
ur pace is faster and our potential is bigger,” said Robin Li, chairman and CEO of leading Chinese search engine Baidu Inc.
He noted that AI will have an impact on the internet and China should firmly grasp the historic opportuni
ties of AI, and the country’s efforts in technological innovations will begin gradually changing the world.
Pony Ma, chairman and CEO of Tencent Holdings Ltd, said the e-government is becoming the driving force for cons
truction of a digital China and high-quality social and economic development, and internet firms should co
nsolidate basic research and focus on making breakthroughs in core technologies.
cus”, keeping it prudent while the liquidity should be at a reasonably adequate level, it said.
Financial policies are required to further support small and private companies, and fun
ding through the capital market is supported by the authorities, according to the statement.
The central bank had skipped open market operations for 15 conse
cutive working days until Monday. “Reasonable and adequate liquidity in the banking syste
m” was the main reason for the absence of open market operations, according to a statement from the central bank.
To cut or not to cut the RRR, a strong tool for liquidity adjustm
ent, has become a hot topic since April, not only for investors, but also for policy advisers.
Divergent opinions are spreading among a broader group of market observer
s. The market is trying to get more indications from the monetary authority, although the C
hinese central bank barely sends any hints on possible monetary policy operations before taking action.