MNI China Press Digest, May 17:China-U.S., Huawei, Home Prices

     BEIJING (MNI) - The following are highlights from Chinese press reports on

Friday:

     China urgently needs to accelerate its own innovation of core technologies

and stop relying on others, the People's Daily said in a front-page commentary.

The trade dispute with the U.S. has made China more aware of its overall

shortcomings, but there is nothing that can stop China's rejuvenation, the

newspaper said.

     The U.S.'s move to contain a Chinese private tech company Huawei is both

disgraceful and useless, the Global Times said in an opinion piece. Huawei as a

leading 5G network manufacturer has unchallengeable technology, and cutting it

out will also hurt American companies that cross-purchase technologies with

them, the paper said. China should also use diplomatic resources to hedge

against U.S. suppression of Huawei, the paper added.

     Home price gains are likely to slow, said the Economic Information Daily

after the official data published yesterday showing housing prices in 70 cities

surveyed have rose for 49 consecutive months. Prices in first- and second-tier

cities may continue to ramp up, thus triggering further regulations, while gains

in third-tier cities have already started to decelerate, the paper said, noting

that the housing market will likely be stable this year.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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