of understanding on bilateral economic and trade issues, Xinhua reported. The two sides said they will step up their work
within the time limit for consultations set by both heads of state, and strive for consensus.
Vice-Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin headed the talks.
After tit-for-tat exchanges of hefty import tariffs, China and the US agreed in December to halt new ta
riffs for 90 days to allow for talks. Since then, the world’s two largest economies have conducted i
ntense negotiations on a wide array of topics, such as trade and structural issues.
Wei Jianguo, vice-president of the China Center for International Economic Ex
changes, said China and the US have maintained close contacts in recent m
onths, which reflects their positive desire to solve genuine problems and foster cooperation.
Wei, a former vice-minister of commerce, underlined the importance of conducting rule-based negotiations and seeking win-win solutions.
Diao Daming, associate professor at Renmin University of China’s School of International Studies, said the world’s two la
rgest economies can deliver positive results in future trade talks to allay global concerns.
China is expected to generate 48.6 zettabytes (48.6 trillion gigabytes) of data in 2025, while the number for the US is forecast to be
30.6ZB, according to a study by the International Data Corporation (IDC) and data storage firm Seagate, a CNBC report said.
In addition, the global total amount of new data generated is set to grow from 33ZB in 2018 to 175ZB by
2025, with data collected from entertainment platforms, video surveillance footage, internet-co
nnected devices, productivity tools and metadata contributing to most of the growth, according to the report.
In the race for data, which, as IDC analysts put in their report, is
“at the heart of this digital world” and “a company’s most valuable intangible a
sset, which can create a competitive edge in digital transformation”, there is already a victory sign coming from China.
The country generated about 7.6ZB data last year, around 0.7ZB more than the US, the report said.
Zhou Xiaochuan, former governor of the People’s Bank of China (PBOC), has won the UK’s 2019 Central Banking lifetime achievement award, according to the publication’s website.
Zhou, the sixth winner of the award, stands out for his high levels of integrity, intellectual ri
gor and bold reforms that have served the public interest in China and elsewhere, said a statement of the website.
The Central Banking Awards were established to recognize outstanding perform
ance in individuals and organizations in the central banking community.
Zhou, who stepped down as PBOC governor in March 2018, had served in his position from
December 2012-2018, which makes him China’s longest serving central bank governor since 1949.
The award recognizes the impact Zhou had on the central bank and the Chinese economy.
“While in office, Zhou demonstrated high levels of integrity in his pursuit of public s
ervice. He brought academic rigor to real-world decision-making, acting as a prag
matic policymaker with a strong sense of what was in the public interest,” the statement said.