As it released data on China's economic performance in the first half (H1) of 2019 on July 15, the National Bureau of Statistics (NBS)suggested that a solid foundation has been laid for the country to achieve its annual growth targets as the economy maintained steady, resilient development.
在判定中小零售企业电子商务商业运营模式框架基本组成结构后，要结合其实际要求和市场环境建立健全完整的后续管理机制，从根本上提升企业的行业竞争力，也为管理工作的顺利开展奠定基础。
The GDP in H1 grew 6.3 percent year on year to about 45.09 trillion yuan ($6.55 trillion), meeting the annual target range of 6-6.5 percent set by policymakers. In the second quarter (Q2), it rose 6.2 percent year on year, slowing from 6.4 percent in the first quarter (Q1).
The Chinese economy has performed within an appropriate range despite global economic slowdown and domestic downward pressure. Instead of resorting to massive stimulus packages, the country has promoted reform and innovation, improved the domestic business environment and cut taxes and fees to boost the economy, NBS spokesperson Mao Shengyong told a press conference on July 15.
The bustling Chaotianmen Wharf in southwest China's Chongqing on April 7
Wang Jun, a senior economist at the China Center for International Economic Exchanges, attributed the slowdown in GDP increase to China's efforts to shift to higher-quality growth through economic restructuring. Despite the moderate growth,China had stable performances in employment and residents' income and saw rebounds in indicators such as social financing, he said at the Guoshi Forum in Beijing on July 15. Hosted by China News Service, the event focused on China's economic growth.
Driving forces
Consumption, export and investment—known as the troika of China's growth drivers—maintained steady growth in H1,with consumption continuing to play a key role by contributing 60.1 percent of overall growth. Consumer inflation also remained stable as the consumer price index rose 2.2 percent year on year, below the annual control target of about 3 percent, NBS data showed.
Total retail sales of consumer goods, a gauge of consumption, exceeded 19.5 trillion yuan ($2.8 trillion) in H1, up 8.4 percent from a year earlier. Notably, retail sales rose 9.8 percent year on year in June, up from 8.6 percent in May.
限制性喷嘴在压力增加过程到某一临界范围后，气体速度随着气体压力的变化显得不明显。由此相关研究人员通过对限制型喷嘴的结构改进，这就是目前使用最为广泛的紧耦合雾化法。原理是缩短喷嘴出气口和液流间的距离，合理利用气体动能达到高效破碎目的。依据是增加气体动能的传输效率。紧耦合雾化法由于气体动能传输效率高，可以将熔体直接雾化成熔滴，其熔体冷却速度≥105K/s，粉末平均粒度≤50μm。[13]该技术最早实际生产应用在英国PSI公司。
As China shifts its focus to high-quality growth from high-speed development, a high growth rate no longer indicates economic resilience. According to Wang, the efforts to promote economic restructuring in H1 have seen remarkable payoffs.
About 2.06 million cars were sold in June, up 7.5 percent compared to May.Data released by the China Association of Automobile Manufacturers on July 10 showed that sales of new-energy vehicles(NEVs) rose 49.6 percent in H1.
审计风险指的是具有很严重的错误和漏洞的财务报表当中，审计人员不正确地发表审计观点而导致损害的隐患性。审计风险的含义能够从三个层面来明确：首先是审计风险出现的核心，审计会计工作的注册会计师与所处的会计师事务所属于出现风险的核心。其次是审计风险出现的因素，审计过程、审计方式、错误判断等都是造成审计风险的因素。最后是设计风险的高低，注册会计师发表的审计观念和财务报表之间真实差距的大小，审计风险存在一定的客观性、普及性、潜在性、无法避免性以及能够控制性的特点。
Housing sales maintained stable growth in the January-June period as China continues to curb speculation and cool off the overheated property market. According to NBS data, commercial housing sales measured by floor area reached 757.86 million square meters in the six months, down 1.8 percent year on year.
蜘蛛精一步步地接近，青辰吓得大气也不敢喘。他有心逃跑，然而看对方那几条大长腿，他又自忖跑不过。他心中焦急，将身子紧紧缩在巨石的后方，恨不得变成一只老鼠钻进石头底下的缝隙。
“301条款”来源于美国《1974年贸易法》第301节。该节做出以下规定，当贸易对象国存在以下行为时，美国贸易代表可对他国不合理或不公平贸易做法发起调查，甚至有权终止或撤回与他国贸易协定减让的利益，或者对外国的货物或服务施加关税或其他进口限制（即各种贸易壁垒）。
Despite external uncertainties, half-year exports and imports of goods with major trading partners increased, with exports climbing 6.1 percent year on year to 8 trillion yuan ($1.2 trillion) and imports increasing 1.4 percent to 6.7 trillion yuan ($974 billion). The total value of imports and exports of private enterprises expanded 11 percent, representing 41.7 percent of overall foreign trade.
Members of the Association of Southeast Asian Nations, European Union states and countries participating in the Belt and Road Initiative contributed the most to the growth of China's foreign trade, Bai Ming, Deputy Director of the International Market Research Institute, said at the Guoshi Forum.
China's trade with Belt and Road participants totaled 4.24 trillion yuan ($617.5 billion) in H1, increasing 9.7 percent year on year, according to the General Administration of Customs of China (GACC).
To further boost foreign trade, China needs to enhance manufacturing industries to gain more of an edge in exports and broaden its market access to better meet domestic demands and participate in the global industrial chain, Bai stressed.
上文通过对大数据和工程造价这两个基本概念的介绍，使得我们对它们有了一个清晰的认识，接下来就需要对大数据对工程造价的意义进行详细的分析，主要表现在以下四个方面：
On July 10, the State Council, China's cabinet, decided to launch an array of new policies to expand foreign trade with the focus on improving fiscal and tax policies. The reforms will further lower the overall import tariff level, refine export tax rebate policies and speed up the tax rebate process.
Notably, investment in the January-June period saw differentiated performances.According to NBS data, investment in the primary industry went down 0.6 percent year on year, while that in secondary and tertiary industries climbed 2.9 percent and 7.4 percent, respectively.
Investment in hi-tech manufacturing and services rose 10.4 percent and 13.5 percent,respectively, year on year, both higher than that of total investment.
However, infrastructure spending and investment performance by private sectors were not up to expectations. Fixed assets investment climbed 5.8 percent in H1, down from 6.3 percent in Q1, while real estate investment increased 10.9 percent year on year in H1, slower than the 11.2-percent increase in the first five months. Private investment in H1 gained only a 5.7-percent year-on-year increase.
“Since the decelerated GDP growth in Q2 can be partly attributed to the aforementioned decline, more efforts are needed to ratchet up total investment,” Xu Hongcai,Deputy Director of the Economic Policy Commission, China Association of Policy Science, told Beijing Review.
Higher quality
According to Wang, the consumer market was greatly boosted by rebounding car sales in June due to enhanced promotion by carmakers and dealers before new emission standards took effect on July 1.
学校、企业各方要有主人翁的姿态，要充分认识到自身在产教融合中的重要作用，应整合自身的优势资源，明确各自的身份、任务和使命，共同培养学生的职业核心能力，使学生能更快、更好地掌握烹饪技能，为将来快速适应工作环境打下坚实基础。
The industrial output expanded 6 percent year on year in H1. In June alone,industrial output growth accelerated to 6.3 percent from 5 percent in May. Although the profit of major industrial firms fell 2.3 percent year on year in the January-May period,the decline narrowed 1.1 percentage points from the first four months of the year.
China's job market experienced stable development as another 7.37 million people in urban areas were employed, accounting for 67 percent of the annual target. The percapita disposable income stood at 15,294 yuan ($2,227), up 8.8 percent year on year in nominal terms. The inflation-adjusted growth was 6.5 percent, NBS data showed.
Although car sales saw fluctuating growth in H1, rising NEV demand is still driving the auto industry as China pushes ahead to green development. According to NBS data, the output of NEVs and solar cells surged 34.6 percent and 20.1 percent, respectively, year on year.
According to Lai Youwei, Deputy CEO of Meituan, China's largest on-demand online service provider, rising online consumption of services and newly emerging service demand, such as home-sharing and cosmetology, have injected strong impetus into the economy. To maintain the growth momentum of these industries, he said the government should further improve the business environment and provide more supporting policies.
The value added of information transmission, software and information technology services, leasing and business services, transportation, warehousing and postal services all saw remarkable expansion. Consumption of services represented 49.4 percent of final consumption growth in H1, up 0.6 percentage points from the previous year.
The service industry also maintained a sound growth momentum. NBS data showed that the service sector output in H1 accounted for 54.9 percent of total GDP, rising 7 percent and outpacing the 3-percent and 5.8-percent increases in the primary and secondary industries, respectively.
In addition to industrial upgrading, improving people's income is also significant to the pursuit of high-quality economic growth,Wang said. He called for more targeted employment-boosting policies for middle- and low-income groups.
Emerging industries of strategic importance and hi-tech manufacturing industries stood out in the H1 economic performance.The value added of strategic emerging industries secured an increase of 7.7 percent year on year, while the value added of hi-tech manufacturing industries rose 9 percent year on year, 1.7 and 3 percentage points higher than that of all major industrial enterprises,respectively.
AR的发现是治疗TNBC患者的一个重要进展。TNBC患者预后较差，又缺乏有效的分子治疗位点，所以AR很有可能会成为TNBC的一个新的治疗靶点。
微课展示的内容生动形象，但是仍需要注意一些问题，比如：一是微课时间较短，内容应该呈现课程重点，并不是要将整节课程减短；二是在高职院校的德育课堂上展示的内容不能一遍过，而应该同时用于学生自主学习、提前预习、课后复习；最后是微课设计内容要根据高职学生的情况及其学习特点进行制作，播放的内容要切合实际、贴近生活，将教材内容和实际生活相结合，引起学生的注意，激发学生学习德育课程的兴趣，展现微课在德育课堂的教学效果。
China's Economy in H1 2019
Support and stimulus
To cope with downward pressure and boost the domestic market, China has implemented a string of fiscal and monetary policies as it seeks stronger market confidence and more tangible benefits for enterprises and individuals. According to the 2019 Report on the Work of the Government released in March, the tax burden and social insurance contributions of enterprises will be cut by nearly 2 trillion yuan ($291.12 billion) this year, in line with a proactive fiscal policy.
Shoppers queue to pay for their purchases at a duty-free store in Haikou, south China's Hainan Province, on April 13
In the first five months of the year, newly introduced tax cuts and fee reductions saved businesses about 893 billion yuan($129.8 billion), data from the State Taxation Administration showed.
In June, new policies were introduced to encourage local government special bond issuance to fund eligible major projects and bolster infrastructure growth.
According to Zhang Xuedan, a researcher with the Chinese Academy of Fiscal Sciences,the tax cuts and fee reductions have shown positive results in boosting the economy.To make the policy sustainable, he said the government needs to improve transfer payments to impoverished areas to ensure local fiscal revenue.
In addition, to provide financing support for the real economy, the People's Bank of China, the central bank, lowered the reserve requirement ratio (RRR) for small and medium-sized commercial banks in May, which is expected to release 280 billion yuan ($40.7 billion) of long-term liquidity. The freed fund will be used for providing more loans to private as well as micro and small companies,the bank said in a statement.
让学生思考定义的注意点，比让学生回忆定义，效果也许更好.此问题，要求学生分析出两个注意点：(1)从第二项起，即an-an-1=d(n≥2)；(2)差d为常数，即公差.
Against mounting external challenges,China has announced measures to improve the domestic business environment and open up more sectors for foreign investment. In the latest move to widen opening up, it unveiled new negative lists for foreign investment market access on June 30, further cutting off-limit items.
While boosting domestic market expectations, the move may also trigger risks,which calls for precautions, Tan Yaling, Dean of the China Foreign Investment Research Institute, told the Guoshi Forum. “The country needs to improve management of foreign investment and enhance the competitiveness of domestic market players,” she said.
Future outlook
According to GACC, China had a 45-percent year-on-year growth in trade surplus at 5.5 trillion yuan ($799 billion) in the first five months.
The economy will still face great downward pressure while the trade surplus is likely to narrow in H2, Xu warned.
Although Wang has an upbeat view about the economic performance in the remaining months of the year, he stressed that China needs to further cut overcapacity, strengthen high-end manufacturing and translate technologies such as 5G into products to avoid bubbles in hi-tech industries.
According to Mao, the effects of the counter-cyclical adjustment policies such as tax and RRR cuts to boost the economy will become more prominent in H2.
“With ample economic policy tools at its disposal and the expanding domestic consumer market, China's economic growth will remain stable in H2,” Mao said.
“Although China's GDP growth rate may decline to 6.1 percent in the fourth quarter,the figure for this year is expected to fall between 6.2 and 6.3 percent which still meets the annual target,” Xu said, adding that encouraging private investment and boosting consumption will remain priority tasks. ■
（1）要“严之有理”。比如，我对学生作业本的使用要求就非常严格，特别是书写格式，要求写上日期、作业出处，要求画上边线，左边写题号，右边写题，像等号、分数线一律要求用直尺画，所有阿拉伯数字的书写要规范。现在班上大部分学生认真验算的习惯已经形成。
Copyedited by Rebeca Toledo
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