Source: Asia Development Bank
Using state-dependent local projection methods, the results of the paper indicate a weaker transmission during boom phases. Stricter regulation on P2P lending since 2017 in the PRC and the substantial scaling back of P2P lending could positively impact the monetary management of the economy.
Source: People’s Republic of China – State Council News
Huajiang Grand Canyon Bridge’s first steel truss girder hoisted to designated position for installation in SW China
Source: China State Council Information Office 2
Chinese lawmakers are discussing a draft law amendment that is expected to improve the regulations for lawmakers to better perform duties.
The amendment to the Law on Deputies to the National People’s Congress and to the Local People’s Congresses at Various Levels was submitted on Monday to an ongoing session of the National People’s Congress Standing Committee for deliberation.
All levels of the standing committees of the people’s congresses should maintain close contact with deputies, supporting and safeguarding their lawful performance of duties and fully utilizing their roles, says the draft.
All levels of governments, supervisory commissions, courts, and procuratorates should strengthen their connections with deputies and listen to their opinions and suggestions.
Further enriching the forms and content of lawmakers’ connection with the public, the draft adds provisions that lawmakers should, based on the principle of proximity, carry out activities to strengthen their connection with the public, listen to, and convey the opinions and suggestions of the people.
The standing committees of the people’s congresses above the county level should broaden deputies’ participation in legislative, supervisory, and other duties, fully utilizing their roles, it adds.
The draft also clarifies that all levels of governments and their departments, supervisory commissions, courts, and procuratorates may invite deputies to participate in relevant work and activities and listen to their opinions and suggestions.
Source: China State Council Information Office 2
Chinese lawmakers are considering a draft preschool education law that stipulates better protection of the rights and interests of preschool children.
The draft law was submitted on Monday to the ongoing session of the National People’s Congress Standing Committee for deliberation.
Kindergartens and other entities or individuals, before collecting, using, providing, disclosing, or otherwise processing personal information of preschool children, must obtain consent from their parents or other guardians and comply with relevant laws and regulations, the draft says.
If a kindergarten finds that an employee may pose a risk to the physical or mental well-being of children, it must immediately suspend the employee from work. Kindergartens should also monitor the physical and psychological health of their staff, it says.
Source: China State Council Information Office 2
A draft energy law was submitted to an ongoing session of the National People’s Congress Standing Committee for a third deliberation on Monday.
To ensure energy security and green and low-carbon transition, the latest version adds a provision that says the country shall establish and improve an energy standard system to ensure energy security and green and low-carbon transition, and promote the development of new energy technologies, industries and business forms.
Modifications were made in the latest version submitted for the third deliberation after the second deliberation was made in September this year.
The version for the second deliberation stipulates that China will accelerate building a new type of power system and improve the grid’s ability to accept, allocate and regulate clean energy.
Some lawmakers proposed that clean energy includes renewable energy and nuclear energy. Nuclear energy generation is more stable and different from renewable energy generation such as wind and solar energy. They proposed to modify “clean energy” to “renewable energy.”
The latest version covers more detailed provisions on the responsibilities of energy enterprises to secure adequate supply and adds a provision that energy enterprises “shall not collect fees illegally.”
It adds a provision that the energy regulatory authority of the State Council, together with other departments of the State Council, shall strengthen guidance and coordination on energy emergency work across provinces, autonomous regions, and municipalities.
Source: China State Council Information Office 3
The Confucius Institute at the University of Malta received acclaim on Monday for its role in promoting friendship between China and Malta, as it marked its 15th anniversary.
The special anniversary celebration featured performances by university students from the Confucius Institute as well as primary and secondary school students.
In his address, Peng Yijun, charge d’affaires of the Chinese Embassy in Malta, praised the institute’s contributions over the past 15 years.
“The Confucius Institute has opened a door for Maltese young people to explore the real China,” he said, underscoring the strong partnership between the University of Malta and Xiamen University in southeast China’s Fujian Province.
Shi Dalin, vice president of Xiamen University, expressed hope that the Confucius Institute would continue to serve as a model for educational and cultural collaboration between Xiamen University and the University of Malta.
University of Malta Pro-Rector Frank Bezzina highlighted Confucius Institute’s role in language teaching and cultural exchanges, noting that institute plays a unique role by promoting dialogue and mutual understanding.
In a video message, Yu Yunfeng, director of the Center for Language Education and Cooperation at China’s Ministry of Education, said the Confucius Institute has played “a unique and important role” in promoting cultural exchanges and enhancing mutual understanding and friendship.
Source: China State Council Information Office 3
The Chinese Book Reading Classroom at the Mongolian University of Life Sciences was inaugurated in Ulan Bator on Monday.
“All of our teachers and students are delighted that the Chinese Book Reading Classroom has opened at our school. We hope this classroom will help us learn more about China,” said Gonchigdorj Enkhbayar, vice director of the university, at the launch ceremony.
Xue Ming, deputy editor-in-chief of the Inner Mongolia People’s Publishing House, spoke at the opening ceremony about the Inner Mongolia Publishing Group’s commitment to strengthening cultural exchanges under the framework of Belt and Road Initiative (BRI) cooperation with neighboring countries.
He said that the Chinese Book Reading Classroom will undoubtedly yield positive results in fostering cultural exchanges and mutual learning between the two countries. Additionally, it will provide new impetus and contribute to mutual assistance, friendly relations, and win-win cooperation.
The Chinese publishing group donated more than 800 Chinese books across over 400 categories, including traditional culture, science, agriculture, medicine, literature, and dictionaries, to the reading classroom.
Chinese Book Reading Classrooms have been gradually established in major universities in Mongolia since 2019, aimed at showcasing and introducing Chinese culture to Mongolian readers. Currently, there are six such classrooms.
The opening of the reading classroom at the Mongolian University of Life Sciences is part of a series of activities titled “Feel China,” co-organized by the Chinese Embassy in Mongolia, the Ministry of Culture, Sports, Tourism, and Youth of Mongolia, and the Information Office of the People’s Government of China’s Inner Mongolia Autonomous Region.
Source: China State Council Information Office 3
Munich welcomed the 12th Chinese Film Festival on Monday night, inviting locals to explore China’s cinematic world through a diverse lineup of films.
Organized by the Confucius Institute Munich, the two-week event will showcase 21 feature films, three short films, two animated features, and three animated shorts.
Munich’s mayor, Dieter Reiter, emphasized the festival’s role in fostering cross-cultural understanding, highlighting China’s global significance. The opening night featured a screening of “Five Hundred Miles,” marking the start of an immersive film program.
Beyond screenings, the festival offers lectures on the film industry, and the experience of traditional Chinese attire, Hanfu.
According to Kang Wei, director of cultural activities at the Confucius Institute in Munich, the festival has grown in popularity.
“Besides hosting the annual festival, we are also working to introduce outstanding Chinese films to German audiences year-round through our monthly Chinese film club in Munich,” Kang said.
Source: China State Council Information Office 3
The “Under the Castle” Halloween-themed pop-up store, designed by Jackson Wang and his team, will be open in Shanghai throughout November, following on from the pop star’s successful collaboration with Universal Studios Singapore last month, which brought the first Chinese intellectual property (IP) to the Singapore theme park.
The interior of the “Under the Castle” pop-up store in Shanghai. [Photo courtesy of Team Wang Design]
The store is open from now until Nov. 30 at No. 10 Yongyuan Road in central Shanghai. Hauntingly decorated both inside and outside, a wide range of merchandise specially designed by Wang and his team is on offer, with visitors even having the chance to obtain a free comic book. Preparations are also underway for an “Under the Castle”-themed carnival and exclusive market, although the date has yet to be announced.
The exterior of the “Under the Castle” pop-up store in Shanghai. [Photo courtesy of Team Wang Design]
“Under the Castle” was created by Team Wang Design, a luxury streetwear label founded by its creative director Jackson Wang and his friend and longtime partner Henry Cheung. The “Under the Castle” experience and merchandise originated from the “Sparkles – Knock Knock” series launched in October 2022, and an escape room created by the singer in Shanghai in 2023.
A display featuring the central characters Pumpkie and Spookie inside the “Under the Castle” pop-up store in Shanghai. [Photo courtesy of Team Wang Design]
The franchise introduces the characters Pumpkie and Spookie, around whom Jackson Wang has also crafted a comic book. Pumpkie, a pumpkin brought to life on Halloween, and Spookie, a playful ghost, explore a cursed castle in their village, encountering the building’s former royal residents and uncovering its secrets.
Ahead of the Shanghai store’s opening, Wang had already extended his star power and intriguing concept overseas. In late September, Team Wang Design announced its first partnership with Resorts World Sentosa when it opened the “Under the Castle” haunted house at Universal Studios Singapore’s 12th edition of “Halloween Horror Nights.”
The “Under the Castle” attraction at Universal Studios Singapore. [Photo courtesy of Team Wang Design]
Combining Team Wang Design’s bold aesthetics with a spooky narrative, the attraction featured a terrifying take on the characters Pumpkie and Spookie, integrating elements from Wang’s 2022 album “Magic Man” through props and scare actors. Open from Sept. 27 to Nov. 2, it was the largest haunted house at this year’s event, consistently drawing long lines of visitors and fans. The collaboration also marked the first time a Chinese IP had been featured in the Universal Studios theme park in Singapore.
Henry Cheung, CEO and co-founder of Team Wang Design, revealed that he and Wang have loved Halloween since they were children. For “Under the Castle” to be part of the legendary celebration at Universal Studios Singapore was “truly an honor,” Cheung said in a statement, adding that the theme park’s Halloween event has been setting the gold standard for fear and fun for more than a decade.
Jackson Wang interacts with fans at the launch of his “Under the Castle” comic book at Resorts World Sentosa, Singapore, Oct. 13, 2024. [Photo courtesy of Team Wang Design]
Wang, who is working on his next album set for release in 2025, has taken time out this year to refresh and recharge. After years of relentless touring and intense pressure, he aimed to live a more balanced life and spend more time with friends. However, his desire to keep creating led him to undertake high-profile projects, including a collaboration in June with auction platform Joopiter, owned by his friend, the American musician and fashion designer Pharrell Williams.
Fans can look forward to more projects and surprises from the singer next year. At the Weibo Music Awards 2024, held in Beijing this September, Wang announced: “I’ve rested this year and will come back to the music scene next year. Check me out next year; wait and see.”
Source: People’s Republic of China – State Council News
PHNOM PENH, Nov. 4 — The 2024 China-Cambodia Digital Economy Cooperation Forum was convened here in Phnom Penh, capital of Cambodia, on Monday, exploring ways to boost stronger digital economy cooperation between the two countries.
In an opening speech, Cambodian Minister of Economy and Finance Aun Pornmoniroth said the forum was vital to further promoting cooperation between Cambodia and China, especially in the fields of technology, innovation, and digital economy.
“For Cambodia, the development of the digital economy is considered an important driver in the process of economic development,” he told the forum with approximately 250 participants.
Pornmoniroth, who is also a Cambodian deputy prime minister, said the development of digital technology is one of the top priorities in the Cambodian government’s Pentagonal Strategy Phase 1 and that digital technology will help Cambodia achieve its vision of becoming a high-income country by 2050.
“In recent years, digital technology has been rapidly developed, becoming a new stand for supporting and ensuring economic resilience,” he said.
“The digital technology has spurred new innovations that contribute to value added creation, productivity increase, and work efficiency, as well as become a catalyst for global trade and economic connectivity,” he added.
Pornmoniroth said Cambodia and China have been working closely to promote digital economy and that the Southeast Asian country has collaborated with Alibaba to boost e-commerce and with UnionPay International and Ant International’s Alipay+ to bolster cross-border QR code payments.
At the event, the Digital Economy Professional Association of the Chinese Chamber of Commerce in Cambodia was launched.
Pornmoniroth hopes that the association will play a leading role in promoting digital innovations, producing digital talents, and enhancing the use of digital technology.
Chinese Ambassador to Cambodia Wang Wenbin praised Cambodia for its rapid development of digital economy, and was amazed by the significant rise of mobile payments with smartphones.
He was pleased to see that China-Cambodia digital economy cooperation has progressed well, saying that China will continue to help Cambodia achieve the goal of 100 percent high-speed Internet coverage in urban areas and 70 percent coverage in rural areas by 2025.
“Chinese companies in Cambodia have fully utilized their own technological advantages to promote emerging technologies such as artificial intelligence, cloud technology, and mobile payments in Cambodia, helping the kingdom improve its digital level and promote digital transformation,” he said.
Lin Shiqiang, president of the China Chamber of Commerce in Cambodia, said China Unicom, Huawei and other companies have played a crucial role in constructing Cambodia-China submarine cable, providing strong support for the deep integration and connectivity of the digital economy of the two countries.
Joseph Matthews, a senior professor at the BELTEI International University in Phnom Penh, said China has been a great supporter of digitalization of Cambodia, gradually transforming Cambodia’s present system into digitalization.
“China has a policy. They are sharing their wealth and their technology with countries and with their friends like Cambodia,” he told Xinhua.
Source: People’s Republic of China – State Council News
Motivated by China’s complete removal of market access restrictions for foreign investors in the manufacturing sector, executives from multinational corporations attending the seventh China International Import Expo said they will deploy more resources in the country, with a particular focus on high-end manufacturing.
This year’s CIIE, scheduled in Shanghai from Tuesday to Nov 10, will debut more than 400 new products, technologies and services across advanced sectors, including high-end equipment, advanced materials and marine engineering products, according to the Ministry of Commerce.
The latest edition of China’s national negative list for foreign investment, which took effect on Friday, has removed the last two manufacturing-related restrictions, further opening the sector to global investors, according to the National Development and Reform Commission.
Attracted by China’s innovation capability, business model transformation and bilateral and multilateral free trade deals, many global manufacturers are increasingly inclined to invest in new innovation centers, expand production capacities and advance digital transformation initiatives within the country, said Sun Xiao, secretary-general of the China Chamber of International Commerce.
For China, the manufacturing industry is the earliest sector to open up to foreign investors, and it is also the most competitive, with a high level of integration with the global industrial division of labor, said Sun.
Schneider Electric, a French industrial and technology group and a seven-time participant at the CIIE, will present at this year’s event new concepts, products, services and applications that combine digital, automation and electrification technologies, underscoring its commitment to China through its “China Hub” strategy.
Yin Zheng, executive vice-president of Schneider Electric’s China and East Asia operations, said that China has become Schneider Electric’s second-largest market in the world and one of its four global research and development bases.
“Through the CIIE, a world-class communication platform, we aim to continuously deepen ecosystem cooperation and work with more Chinese industrial partners to jointly build new quality productive forces,” he added.
Arthur Xu, president for China at Danfoss Group, a Danish engineering company, said that Danfoss will bring its products and solutions in the data center, water and wastewater treatment, marine, food and beverage, and heat recovery fields, among others, to the CIIE this year. These proven solutions will offer unique value for China’s green transition, he said.
In addition to plans to begin construction in April in Jiaxing, Zhejiang province, on its new manufacturing facility, which will be one of the biggest production sites in Danfoss’ history, the company also announced in September that it has completed construction of a work campus in Nanjing, Jiangsu province.
The new campus is dedicated to the innovation and production of specialized transistor modules as well as electric and hybrid power train systems.
With the structure of foreign investment continuing to be optimized, China saw the high-tech manufacturing sector use 77.12 billion yuan ($10.87 billion) in foreign direct investment in the first three quarters of 2024, accounting for 12 percent of the national total, according to the Ministry of Commerce. That is an increase of 1.5 percentage points from the same period last year.
Tang Wenhong, assistant minister of commerce, said that China’s well-developed industrial system, commitment to continued openness, and efforts to scale up high-tech manufacturing remain key drivers for foreign manufacturers’ investment in the country.
Nipsea Group, a Singapore-based paint and coating manufacturer, will make its debut as a participant at the CIIE this week with a 300-square-meter booth.
“This year, we have officially transitioned from being a witness to a participant at the CIIE, presenting our latest products and technology solutions,” said Eric Chung, CEO of Nippon Paint China, a subsidiary of Nipsea Group.
“This move not only underscores our unwavering commitment to the Chinese market, but also reflects our firm determination to contribute to the high-quality development of China’s economy,” Chung said, adding that the company will showcase its newest automotive coatings and marine paint products at the expo.
Source: People’s Republic of China – State Council News
136th Canton Fair concludes in Guangzhou
Source: China State Council Information Office
The 2024 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), a premier oil and gas industry event, kicked off on Monday, highlighting the themes of artificial intelligence (AI) and sustainable energy transition.
In his keynote address, United Arab Emirates (UAE)’s Minister of Industry and Advanced Technology, Sultan Al Jaber, emphasized the transformative impact of AI, describing it as an “era-defining innovation” reshaping productivity and accelerating energy transition.
The ADIPEC 2024 has introduced a new “AI Zone” featuring top tech companies, including Microsoft and Accenture, to showcase solutions for sustainable energy management.
Sharif Al Olama, undersecretary for energy and petroleum affairs at UAE’s Ministry of Energy and Infrastructure, added that despite the growth of renewable energy, traditional oil resources continue to play a critical role in ensuring global energy stability.
“Even as renewables grow, oil remains the largest fuel source,” Al Olama said, highlighting UAE’s approach to maintaining a balanced energy mix.
The four-day event is anticipated to attract 184,000 participants from 164 countries, including ministers, more than 200 industry leaders, and over 2,200 exhibitors representing key energy players.
Hundreds of Chinese companies, including PetroChina, China National Offshore Oil Corporation, are participating the exhibition, showcasing technological advancements in digitalization, decarbonization, and renewables in the evolving landscape of the global energy industry.
Key topics at the ADIPEC this year also cover decarbonization, digital innovation, and mobilizing capital for clean energy projects, with an emphasis on bridging financing gaps in emerging markets to support a sustainable and equitable energy future.
Source: China State Council Information Office
Buyers select massage machines at the 136th China Import and Export Fair in Guangzhou, south China’s Guangdong Province, Nov. 4, 2024. [Photo/Xinhua]
The 136th Canton Fair, officially known as the China Import and Export Fair, concluded on Monday in Guangzhou, south China, recording a historic high in terms of overseas buyer attendance, according to data from the organizers.
As of Sunday, a total of 253,000 overseas buyers from 214 countries and regions had attended the event, marking an increase of 2.8 percent compared to the previous edition held from April 15 to May 5 this year, setting a new record, Zhou Shanqing, deputy director of China Foreign Trade Center and head of the fair’s media center, told a press conference held on Monday.
Buyers from countries participating in the Belt and Road Initiative (BRI) accounted for over 60 percent of the attendance. The number of buyers from Middle East countries grew the most, reaching 34,000 or a surge of 32.6 percent compared with the previous edition. There was also a notable rise in the number of buyers from the United States and European countries, with 54,000 attending, an 8.2-percent increase from the previous edition.
The intended turnover of export transactions at this session reached 24.95 billion U.S. dollars, 1 percent higher than the previous session. Notably, transactions with Belt and Road partner countries accounted for more than half of this total, while transaction volumes involving buyers from Europe and the United States both logged growth.
Yang Zhusong, an associate professor at the School of Public Policy and Management, Tsinghua University, said that the growing number of exhibitors at the fair is a microcosm of China’s influence in global import and export trade.
The increase in buyer attendance from Europe and the United States is attributable not merely to their confidence in China’s huge market potential but also to China’s efficient manufacturing prowess, which provides a complete industrial chain of services, Yang said.
The attendance of increasing number of enterprises from Belt and Road partner countries indicates that China’s cooperation with these countries is pragmatic and the benefits are mutual, according to Yang.
Christian Noll, a buyer from Germany, was still busy on the last day of the fair. Focused mainly on garments, he browsed some booths and settled on a cooperation plan with a partner from Fuzhou in east China’s Fujian Province.
“It is the biggest trade show I’ve ever seen. Normally trade shows happen every two years or at most once a year, to allow companies to innovate in between. This show occurs twice a year and each time the size is amazing, and there is a lot of new stuff. This is the coolest show on the planet,” said Noll.
Having attended the fair for four consecutive years, Moulay Elkamel, a buyer from Morocco, described his latest trip to China as “beyond delightful.”
“I’ve met great friends and partners and have seen many interesting products. It’s a pity the fair only lasts for half a month. I plan to come back for the show next year in April. There are already some orders ready for settlement,” Elkamel said.
Themed “Serving high-quality development, promoting high-level opening up,” the 136th Canton Fair featured more than 30,000 exhibitors showcasing 1.15 million new products.
Yang said international buyers are leveraging the Canton Fair as a platform to forge deeper, more mutually advantageous and promising partnerships with Chinese companies.
The continuous development of “Made in China” and “Created in China” is also injecting fresh impetus into the growth of global industrial and supply chains, Yang added.
Chu Shijia, deputy director and secretary general of the fair and head of China Foreign Trade Center, said that the continuous expansion of the Canton Fair reflects the growth and strength of China’s foreign trade, and demonstrates China’s unwavering determination to open wider to the outside world, providing new opportunities for the world with the country’s new development and contributing to the development of an open global economy.
Founded in 1957, the Canton Fair is held twice a year in Guangzhou, the capital of Guangdong Province. It is the longest-running of several comprehensive international trading events in China, and is hailed as the barometer of China’s foreign trade.
Source: China State Council Information Office
The launch ceremony of the White Paper on the Intelligently Interconnected Digital Economy is held in Beijing, Nov. 3, 2024. [Photo courtesy of WIOTC]
The ninth annual World Internet of Things Convention (WIOTC 2024) commenced on Nov. 3, in Beijing, bringing together leaders of government agencies, enterprises, industrial associations and standards organizations worldwide to discuss the future of the Internet of Things (IoT) under the theme, “Towards a New Future for Digital Economy: An Intelligently Interconnected New World.”
The aim of the event was to support the U.N. sustainable development agenda, bridge the global digital divide, create an international model of an intelligently interconnected digital economy in China, and explore new pathways for digital economic collaboration.
In his message to the convention, U.N. Secretary-General Antonio Guterres addressed the transformative impact of digital technology on business and economic growth. He emphasized that “real-time data sharing, IoT applications, information networking, and artificial intelligence are empowering the development of smart grids, smart homes and smart cities.”
However, he noted the digital divide, saying: “Not all countries or communities are benefiting equally. For those without capacity or connectivity, the digital divide is also an opportunity divide.”
“Digital technology is about bridging divides,” he added, calling for efforts to ensure evolving technologies benefit all people equally.
During the convention, speakers noted China’s significant strides in IoT and digital economy innovation, underscoring the country’s investments in digital infrastructure and supportive government initiatives that have positioned it as a global leader in these fields.
According to He Xuming, chairman of the WIOTC executive committee, the number of global IoT connections is expected to surpass 25 billion this year, with China playing a crucial role. The country’s digital infrastructure is expanding significantly. It is on track to build over 4.3 million 5G base stations to support IoT this year and surpass 3 billion IoT connections, he said.
Yu Hongjun, former vice minister of the International Department of the Central Committee of the Communist Party of China (CPC), added that in recent years, China has actively promoted the innovation and development of the internet and digital economy. He said, “The establishment of foundational communication networks, the widespread application of 5G, and the development of 6G have laid a solid foundation for digital economic transformation and upgrading.”
The country’s strategic initiatives proposed during the 20th CPC National Congress, focusing on building a strong digital China and a smart society, were further reinforced by the third plenary session of the 20th CPC Central Committee. The resolution emphasized “improving the commodity distribution system, and speeding up the development of the Internet of Things.”
“China’s leadership in advancing digital innovation and IoT continues to serve as a powerful model, inspiring nations worldwide to embrace the possibilities of digital technologies,” said Sinisa Berjan, ambassador of the Embassy of Bosnia and Herzegovina to China.
The ambassador also stressed the shared responsibility to ensure that the advantages of digital transformation are distributed equally, calling for a world where technology can support an inclusive digital landscape that benefits all.
Berjan called IoT a “critical driver of digital development,” explaining it has the potential to revolutionize key sectors like health care, agriculture, energy and transportation. “IoT enhances productivity, optimizes resource use and empowers communities, ensuring that economic progress aligns with environmental stewardship,” he added.
However, Berjan stressed the need for strong international cooperation to fully unlock these benefits. He called for the sharing of best practices, the development of unified standards, and mutual support among countries to help every nation tap into the potential of IoT.
Platforms like the WIOTC provide invaluable opportunities for such exchanges, fostering a spirit of collaboration that fuels progress, innovation and economic development, he said, adding that “together, we can lay the foundation for a future where the benefits of digital transformation reach every community and individual.”
Leaders from major standardization bodies also underscored the importance of collaboration. Jo Cops, president of the International Electrotechnical Commission (IEC), emphasized that, given the current environmental challenges, “IoT supports the energy transition and the deployment of renewables through smart grid applications.” He added, “To meet our common challenges and goals, we need to collaborate.”
Similarly, Sung Hwan Cho, president of the International Organization for Standardization (ISO), advocated for an inclusive digital future, saying, “It is crucial that this progress actually supports the U.N. Sustainable Development Goals and bridges the digital divide.”
At the convention, the WIOTC released the White Paper on the Intelligently Interconnected Digital Economy. Zhang Hua, vice chairman of the WIOTC executive committee, explained that the white paper outlines the innovative development direction and theoretical foundation of the global IoT digital economy, including concepts, advanced digital economy models, global market structures, and sustainable development pathways.
The white paper provides expert guidance for global governments on internet development and digital economy upgrades, and serves as a reference for enterprises aiming to transform and enhance their data applications, Zhang said.
Source: China State Council Information Office
This photo shows the National Exhibition and Convention Center (Shanghai), the main venue for the 7th China International Import Expo (CIIE), in east China’s Shanghai, Nov. 4, 2024. [Photo/Xinhua]
On Tuesday morning, the Chinese commercial hub of Shanghai will once again assume its role as the host for the newest edition of the globe’s first national-level exposition dedicated to imports.
Now, the China International Import Expo (CIIE) stands as a telling example of China’s steadfast opening up and an unmissable opportunity for foreign enterprises to tap into the Chinese market.
Despite challenges and uncertainties in the global economic landscape, over the past seven years, CIIE has steadily grown.
The first six editions of CIIE have generated a total intended transaction amount exceeding 420 billion U.S. dollars. Additionally, over 1,130 foreign enterprises and investment promotion organizations have conducted targeted connections across the country.
This year, the business exhibition will be held at the National Exhibition and Convention Center (Shanghai), covering more than 360,000 square meters — equivalent to 50 standard soccer fields — and hosting 3,496 exhibitors from 129 countries and regions.
Both the number of participating countries and exhibitors have surpassed previous records.
Notably, 297 exhibitors from Fortune Global 500 companies and industry leaders will attend, marking a historic high. Among all participants, 186 enterprises and institutions have achieved full attendance across all seven editions of the expo.
Besides, this year’s event is also commanding the attention of global journalism. More than 400 media outlets are participating in the coverage of this event, including 220 foreign media organizations.
China’s vast market has become one of the most attractive destinations for global players, with the CIIE serving as the “golden gateway” to this opportunity.
For the CIIE frequenter of Japanese cosmetics giant Shiseido, the event serves as a second-to-none magnet.
“Over the past years of participating in CIIE, we have seen firsthand just how influential the expo can be for our business,” said Toshinobu Umetsu, president and CEO of Shiseido China.
According to the company, visitors will be able to see over 30 new product debuts from 12 different brands in their portfolio.
Umetsu described the expo as a boon for their growth in China’s thriving market, noting that many new skincare technologies, brands, and products have gained substantial attention and recognition from consumers after being featured at CIIE.
“CIIE successfully transformed our ‘exhibits’ to ‘products,’” Umetsu added.
Seizing the opportunity, new participants are eager to try their luck. Among the trendsetters is Canadian sportswear magnate Lululemon.
“A digital innovation here is leading the world, quite frankly, in terms of adoption and opportunities,” said Calvin McDonald, CEO of Lululemon during an interview with Xinhua.
Impressed by the market’s speed, agility and resilience, McDonald said the opportunity to move fast and accomplish big initiatives in the market is incredibly exciting, seeing CIIE as a precious opportunity to bring awareness to the brand.
“In the dynamic and healthy market, we are learning not just how we drive and see success here,” he said, adding that what Lululemon learned from the Chinese mainland consumers and innovation can help their business in other markets as well.
After years of development, the CIIE has become a symbol of China’s new development pattern, a platform for high-level opening-up, and an international public good shared by the world.
At its third plenum, the 20th Central Committee of the Communist Party of China renewed the country’s commitment to the basic state policy of opening to the outside world and continuing to promote reform through opening up.
Serving as another fine example, China removed all market access restrictions for foreign investors in the manufacturing sector on Nov. 1, a landmark move made by the world’s second-largest economy as it opens its doors wider.
“Reflecting on the past six editions of the CIIE, ‘high-level opening up’ has been a consistent theme. The expo has continually showcased an image of an ‘open China’ that shares opportunities and future with the world,” said Wu Zhengping, deputy director general of the CIIE Bureau.
Source: China State Council Information Office
China on Monday appealed to the World Trade Organization (WTO) against the EU’s final ruling of countervailing measures on Chinese electric vehicles (EVs), according to China’s commerce ministry.
China firmly opposes the final measures of the EU to impose high countervailing duties on Chinese-made EVs, despite a barrage of objections raised by relevant parties, including the governments of EU member states, the industry and the public, said a ministry spokesperson.
To safeguard the development interests of the EV industry and global cooperation on green transformation, China decided to make the appeal to the WTO dispute settlement mechanism, the spokesperson said.
The complaint followed China’s previous appeal to the organization against the EU’s initial anti-subsidy measures for Chinese EVs, according to the ministry.
China believes that the EU’s ruling, lacking factual and legal basis while violating WTO rules, is an abuse of trade remedy measures and a practice of trade protectionism in the name of countervailing, the spokesperson noted.
China has urged the EU to face up to its own mistakes, immediately correct its illegal practices, and jointly safeguard the stability of the global EV industrial chain and supply chain as well as the overall China-EU economic and trade cooperation, the spokesperson said.
Source: China State Council Information Office
Egyptian President Abdel-Fattah al-Sisi (at the podium) speaks at the opening ceremony of the 12th session of the World Urban Forum in New Cairo, Egypt, on Nov. 4, 2024. [Photo/Xinhua]
The 12th session of the World Urban Forum (WUF12) kicked off on Monday in New Cairo, Egypt, marking the forum’s first return to Africa in more than two decades.
Addressing the opening ceremony, Egyptian President Abdel-Fattah al-Sisi said this year’s WUF convenes at a critical time, as successive global crises, including devastating wars, have catastrophic repercussions for cities and urban communities.
This requires efforts and political will to establish peace, terminate conflicts, and prioritize development, and reconstruction, he added.
Noting the ongoing wars and conflicts in the Middle East, primarily the war in the Gaza Strip and Lebanon, he urged urgent response to end the bloodshed and destruction, and to embark on processes of reconstruction and development.
Palestinian President Mahmoud Abbas said the Israeli offensive has damaged 80 percent of facilities, hospitals, and buildings in the Gaza Strip. He noted more than 150,000 Palestinians were either killed or wounded, calling on the international community to take their responsibilities to stop the Israeli offensive.
At the opening ceremony, the Egyptian president announced the launch of the “National Smart Cities Strategy” and the “National Green Urbanization Strategy,” which aim to reinforce ongoing national endeavors in promoting urbanization.
Co-organized by the United Nations Human Settlements Program (UN-Habitat) and the Egyptian government, the WUF12 will run until Friday, attracting attendees such as government officials, academics, business people, community leaders, urban planners and civil society representatives. A delegation led by Chinese Minister of Housing and Urban-Rural Development Ni Hong also attended the opening ceremony.
The WUF was established in 2001 by the United Nations to examine urbanization and its impact on communities, cities, economies, climate change and policies. The first WUF was held in Nairobi, Kenya in 2002.
During the conference, Azerbaijan was announced as the next host for the forum.
Source: China State Council Information Office
China is ready to open a new chapter in its relations with countries that have not established diplomatic relations, including Palau, on the basis of the one-China principle, a spokesperson said on Monday, stressing that the trend of adhering to one-China principle is unstoppable.
Foreign ministry spokesperson Mao Ning made the remarks at a regular press briefing when asked to respond to Palau president’s comments on China.
According to reports, Palau’s incumbent President Surangel Whipps, who is also a candidate for the general election, claims that China has been ratcheting up pressure and asked him to sever the country’s “diplomatic relations” with Taiwan. Another candidate Tommy Esang Remengesau Jr. denied analysis and comments labeling him as pro-China.
Mao said that around the world, 183 countries have already established diplomatic relations with China on the basis of the one-China principle, noting that the prevailing historical trend of endorsing the one-China principle is unstoppable.
Only a very small number of countries in the world, including Palau, still maintain the so-called “diplomatic relations” with the Taiwan region, Mao said, adding that such practice not only goes against the interests of these countries and their people and against UNGA Resolution 2758, but also violates China’s sovereignty, and thus needs to be corrected.
“China urges these countries to fulfill their obligations under international law, stand on the right side of history and make right decisions that truly serve their fundamental and long-term interests at an early date,” said the spokesperson.
Mao quoted a Chinese idiom, “those who suit their actions to the times are wise.” She said it will be welcome for China to see people with vision in these countries to recognize the prevailing trend of history and the times and respect China’s sovereignty and territorial integrity and choose to stand on the right side of international fairness and justice at an early date.
“It’s never too late to make new friends. China stands ready to open up new chapters for relations with these countries on the basis of the one-China principle,” Mao said.
Source: New South Wales Government 2
Headline: NSW businesses set to shine at world-leading expo in China
The NSW Government is supporting 29 businesses across the food, drink, and health supplement sectors to exhibit their products at this week’s China International Import Expo (CIIE) – China’s premier import-focused six-day trade show.
Attracting dignitaries and exhibitors from more than 150 countries, the CIIE gives NSW businesses direct access to buyers, distributors, and prospective customers from across China.
Our largest two-way trading partner for nearly two decades, China buys and consumes more agricultural produce from NSW than any other country, which was valued at $3.6 billion in 2023/2024. NSW’s wine exports are also continuing to ramp up following the removal of import tariffs earlier this year.
Considerable opportunities remain to grow exports even further, particularly in the food and beverage sector, where NSW is well recognised for its premium produce.
At last year’s CIIE, the NSW Government helped businesses achieve $40 million worth of export deals and the Government will once again facilitate opportunities for businesses to grow and expand.
Mrs Toddy’s Tonics from Sydney’s Northern Beaches is one of the NSW businesses to exhibit at this year’s CIIE, showcasing a range of plant-based drinks that are already available at supermarkets across Australia.
Other NSW businesses showcasing their products include Pablo & Rusty’s Coffee Roasters, Australian Vintage Wines, Balance Water, and Noumi.
The CIIE will be held in Shanghai from 5-10 November 2024.
For more information about the event and the full list of NSW businesses that’ll be exhibiting visit: https://www.investment.nsw.gov.au/news-and-events/events/china-international-import-expo-2024-shanghai/
Minister for Industry and Trade Anoulack Chanthivong said:
“The China International Import Expo is a leading event on the global trade calendar and offers unparalleled opportunities for NSW exporters to connect with buyers and distributors in China.
“We are excited to once again showcase the best from across NSW at this prestigious import-focused event, including meat from the Riverina, wine from the Hunter Valley, spirits from Wollongong, and health supplements made in Sydney.
“China has a strong appetite for produce made in NSW, which is globally recognised for its high quality and safety standards, with demand only set to grow.”
Mrs Toddy’s Tonics Co-Founder Sophie Todd said:
“We’re thrilled at the opportunity to introduce a proudly Australian, female-led brand to China, and look forward to showcasing the Mrs Toddy’s Tonic range on the international stage.
“We know that Chinese consumers are becoming more health conscious and are turning to products with natural ingredients, so there’s enormous potential for a business like ours to establish a presence in this lucrative market.”
Source: China State Council Information Office 2
An aerial drone photo taken on Sept. 8, 2024 shows a partial view of the Shichengzi photovoltaic power station in Hami City, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
The western regions of China have experienced remarkable economic strides in recent years, and one contributing factor to this success is the progress made in intellectual property (IP). Amidst the country’s green transformation and pursuit of high-quality growth, this once-impoverished hinterland has now taken an IP-driven development path.
The China National Intellectual Property Administration (CNIPA) has recently reported rapid growth in two key IP types in the regions. By the end of September, the number of valid invention patents in the regions reached 493,000, up 16.7 percent year on year. Registered trademarks also rose by 10.5 percent compared to the previous year.
Such growth has not been easy to achieve. Comprising 12 provincial-level regions, western China covers two-thirds of the country’s land area and is home to over a quarter of its population. A sparsely populated area with limited infrastructure, the western regions have lagged economically compared to the eastern provinces.
However, in recent years, these regions have actively promoted emerging industries, such as smart manufacturing, new energy vehicles and low-altitude economy, which in China are considered as new quality productive forces with high-value invention patents. Local departments have provided IP guidance and financial support to enterprises within these industries, facilitating their rapid growth and narrowing the gap with the east.
From innovation to invention
Some have even taken the lead in the country, such as clean energy technology.
In northwest China’s Qinghai Province, a vast photovoltaic power generation park has been constructed in the Talatan Gobi Desert, spanning 600 square kilometers. Amidst the solar panels, flocks of white sheep were spotted roaming around.
A few years ago, Talatan was a barren land. The locals creatively planted grass to prevent sand erosion and installed a large area of photovoltaic panels. The water used for cleaning the panels infiltrated beneath the surface, nourishing the grass. However, the grass growth-induced shade problem caused the solar panels to malfunction.
To manage grass without chemicals, the park integrated sheep farming — using the animals to control vegetation and contribute to ecological conservation.
This “photovoltaic sheep” concept, patented in 2018, has boosted the efficiency of local photovoltaic power generation, with the park now generating up to 80 million kilowatt-hours of electricity annually.
Another example is the China-Laos Railway, which links Kunming, the capital of southwest China’s Yunnan Province, and the Lao capital Vientiane.
The construction of the cross-border railway was a challenging task due to the complex geological structures along the route. Chinese engineers drilled solid tunnels through delicate mountain terrain and constructed high-pier and large-span railway bridges in earthquake-prone areas. Nearly 30 patents were obtained during the construction process, which has not only greatly improved efficiency and safety but also provided technical references for other major projects in both countries. In October this year, the patent-rich railway has facilitated over 42 million passenger trips since its operation in December 2021.
The innovative achievements from China’s western regions have also garnered global attention. According to the latest report by the World Intellectual Property Organization, four major cities in the area – Xi’an, Chengdu, Chongqing, and Lanzhou – continue to lead the top 100 science and technology cluster ranking. These cities have further enhanced their industrial concentration, attracting high-quality enterprises and talent, and establishing themselves as significant regional hubs of innovation.
“The market economy necessitates us to establish advanced technology as our competitive advantage and transform tech achievements into business resources. Therefore, we have chosen the path of IP,” said Wang Shechang, chairman of Xi’an-based China National Heavy Machinery Research Institute Co., Ltd.
“Protecting IP is not only safeguarding innovation but also utilizing them as a means to enhance value exchange and facilitate the transformation of tech accomplishments,” Wang noted.
From local to global
Geographical indications (GI) are also a key element in the winning formula of development in Western China.
GI is a type of IP that signifies a product’s specific origin and the qualities or reputation linked to that location. It serves as a mark of quality, setting the product apart from competitors.
The latest data shows that the western region has recognized 931 GI products, accounting for 38.8 percent of the national total, with a direct annual output value of 429.8 billion yuan(60.36 billion U.S. dollars).
“The brand value has been greatly enhanced as many products have obtained GI labels,” said Dolkun Awut, head of the Xinjiang IP department. “We leverage this advantage to drive the development of the GI industry and contribute to rural revitalization.”
The Guangxi Zhuang Autonomous Region is a major GI contributor. It has 211 GIs, with a comprehensive output value of over 200 billion yuan and employment for over 5 million people.
The promotion of GI has also strengthened cooperation between the western region and the world. According to the CNIPA, 36 GI products from the western regions have been included in the first China-EU GI list. In 2021, the two sides signed an agreement to enhance bilateral trade of agri-food products, with recognition and protection of 100 Chinese GIs and 96 EU GIs.
Taking the wine at the eastern foot of Helan Mountain as an example, since it was included in the first China-EU GI list, the product from northwest China’s Ningxia Hui Autonomous Region has been exported to over 40 countries and regions, and major wine-producing areas in European countries such as Britain and France have imported 228,000 liters of this Chinese wine.
Western China also places great importance on IP exchanges with neighboring countries.
In Xinjiang, the local IP department has been providing guidance to Chinese enterprises on marketing in Central Asian countries and helping them improve their ability to handle IP disputes.
Guangxi and ASEAN countries have established forums and conferences on IP cooperation. They have also collaborated on patent technology transfer within the biomedicine and new energy vehicle industries. Moreover, universities in Guangxi conducted academic IP programs with those in Macao Special Administrative Region and Vietnam.
China’s GDP saw a 5.2 percent year-on-year increase last year, with the western regions outperforming the national average at 5.5 percent. In this remote but robust area, more enterprises and innovators have valued IP, leveraging their innovations to bolster industries with competitive edges and stimulate better economic growth.
Source: People’s Republic of China – State Council News
Bringing a significant boost to the high-quality integration of the Yangtze River Delta region, the Hangzhou-Huangshan high-speed railway has injected new vitality into the region’s socioeconomic development, according to officials and industry experts.
Since its launch on Dec 25, 2018, the high-speed railway, part of the Hangzhou-Nanchang High-speed Railway, has bridged the distance between western Zhejiang province and southern Anhui province, ending the long-standing lack of railway access in western Zhejiang.
Chun’an county, located in northwestern Zhejiang, has been among the primary beneficiaries of this transportation breakthrough.
For Huang Yaqin, deputy director of the bureau of culture, sports and tourism in Chun’an, the railway has not only improved accessibility, but has also transformed local lifestyles and travel habits.
“Now, in just under 90 minutes, travelers can journey between the ‘paradise on Earth’ of Hangzhou and the ‘fairyland’ of Huangshan, connecting landmarks such as West Lake, Qiandao Lake and Mount Huangshan along a golden tourist route,” Huang said.
The improved transportation links have made Qiandao Lake a magnet for tourists from nearby areas such as Shanghai and Jiangsu province, significantly increasing visitor numbers.
Huang noted that the high-speed railway has also strengthened the lake’s tourism brand, allowing it to tap into niche and diverse markets.
Qiandao Lake now hosts over 20 major cycling events each year.
With the establishment of a high-speed bicycle transportation service from key Yangtze River Delta cities to the area this June, cyclists can conveniently send their bicycles ahead of time from hubs such as Shanghai Hongqiao station, Xuzhou East station and Hangzhou East station, where staff members handle secure packing and delivery.
“This direct bicycle transportation service has made it easier for cyclists from the Yangtze River Delta to participate in events and has helped us position Qiandao Lake as a ‘city of sports,’” Huang said.
The railway drastically shortens the travel time between Hangzhou and Huangshan, creating a crucial corridor that enhances the regional rapid transit network.
On Dec 27 last year, the Huangshan to Nanchang segment of the Hangzhou-Nanchang high-speed rail line began operation, bringing Yixian county in Anhui’s Huangshan city into the “high-speed era “with direct connections to cities including Hangzhou, Hefei and Nanchang within two hours.
The railway network’s expansion has had a profound impact on scenic spots like Xidi town, according to Zhang Sheli, general manager of Yixian county Huihuang Xidi Tourism Development Co.
“The opening of the Hangzhou-Nanchang high-speed line has not only increased visitor numbers, but has also fostered cooperation with nearby attractions such as Qiandao Lake and Mount Jiuhua. This connectivity has attracted more investments and business opportunities.”
Xidi has seen an 11 percent increase in the number of visitors year-on-year, positively impacting local hospitality and retail businesses.
As of Oct 28, the Hangzhou-Huangshan railway has transported over 15 million passengers, with an average of about 50,000 per day.
Song Fengming, a native of Huangshan and an assistant technician at the Nanjing Power Supply Division’s Huangshan North high-speed rail unit, has witnessed the positive changes high-speed rail has brought to the region.
“In the past, it took seven to eight hours to travel from the Yangtze River Delta’s major cities to Huangshan. Now, it only takes one to two hours, significantly enhancing communication and interaction with the ‘Greater Huangshan’ area,” he said.
“The new rail lines have not only raised awareness and boosted the reputation of the region, but have also catalyzed economic growth in the cities along the route.”
Source: People’s Republic of China – State Council News
SHANGHAI, Nov. 5 — The newest edition of the China International Import Expo (CIIE), the world’s first national-level exposition dedicated to imports, opened on Tuesday in Shanghai.
Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony of the 7th CIIE and the Hongqiao International Economic Forum.
Running from Nov. 5 to 10, the 7th CIIE has attracted 3,496 exhibitors from 129 countries and regions. It also sets a new record with 297 Fortune Global 500 companies and industry leaders attending the event.
More than 400 new products, new technologies and new services are set to be unveiled during the expo, which experts believe is a strong indication of global companies’ confidence in the Chinese market and their commitment to further development in China despite a sluggish global economic recovery.
Source: China State Council Information Office
Jinbao, the mascot of the China International Import Expo (CIIE), and Xiaoxin, a humanoid robot providing inquiry service, are pictured at the media center of the 7th CIIE in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
Global investors are eyeing fresh opportunities in China as the world’s second-largest economy accelerates its intelligent, green transformation.
With the seventh China International Import Expo (CIIE) set to open on Tuesday, multiple industry leaders from across the world are gearing up to showcase their latest innovations and technologies, aiming to tap into China’s vast market potential.
Tapping smarter manufacturing
Aptiv, a multinational developing automobile parts, made its debut at the seventh CIIE, exhibiting software and hardware products featuring intelligence and electrification.
“The CIIE provides an excellent platform for enterprises from all over the world to exchange ideas and cooperate,” said Simon Yang, president of Aptiv for China and the Asia Pacific region. He noted that Aptiv hopes to make full use of the CIIE to showcase its innovative solutions.
The company is committed to its long-term development strategy of “In China for China,” and will continue to increase its investment in the Chinese market while expanding business cooperation with Chinese original equipment manufacturers.
Aptiv is one of a number of multinationals gathering in Shanghai to test the pulse of China’s smart manufacturing market, which plays an important part in the country’s pursuit of high-quality development.
Swedish technology company Hexagon has brought its new solutions to help traditional manufacturers become more digital-savvy to this year’s CIIE, including cloud platforms for industrial software and smart quality-testing systems.
“The company is ready to ride the wave of the country’s pursuit of new quality productive forces, which are high-tech, highly efficient and of a high quality,” said Qin Lei, marketing business partner at Hexagon Manufacturing Intelligence (Qingdao) Co., Ltd.
Merck Group, Germany’s leading tech company, is showcasing its innovative achievements in the new materials section of the CIIE, which is new to the annual event.
China’s great market potential, improving business environment and rich talent pool have reinforced Merck’s confidence in its long-term investment in the country, said Marc Horn, executive vice president of Merck and president of Merck China.
Embracing a greener future
Entering its seventh year, the CIIE has retained its “New Era, Shared Future” theme, which holds special meaning for Christian Bruch, president and CEO of Siemens Energy AG.
“I strongly agree with the theme, as it envisions a sustainable and more decarbonized future that requires collaborative efforts from governments, enterprises, customers, partners and the entire supply chains,” Bruch said.
In his view, China’s dedication to building a modern energy system creates “extensive market opportunities” for global energy technology companies, including Siemens Energy.
“Together with Chinese customers and partners, we have developed many energy infrastructure projects, continuously invested and expanded our manufacturing capacity in China, in order to meet the growing market demand in China and across the world,” he said.
Pledging to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060, China has been steadfast in accelerating its energy transition. Over the past decade, the share of clean energy in the country’s total energy use has increased 10.9 percentage points, according to the National Energy Administration.
Dedicated to promoting clean energy in China, Siemens Energy has established 15 manufacturing facilities across the country. It has become an important partner in the country’s energy transition, Bruch said.
At this year’s CIIE, the company is poised to showcase its cutting-edge decarbonization technologies for the energy sector. Many of its exhibits will be presented for the first time in Asia or China.
“During the expo, I look forward to meeting and exchanging ideas with partners, building consensus and fostering collaborative development,” Bruch said. “Tackling climate change and driving energy transition is a daunting task that no single country or region can accomplish alone.”
Bruch’s emphasis on collaboration aligns with China’s increasing global contributions. According to a white paper issued by China’s State Council Information Office in August this year, the country’s wind power and photovoltaic exports helped other countries reduce their carbon dioxide emissions by about 810 million tonnes in 2023.
Recognizing China’s role in the global energy transition, Bruch highlighted Siemens Energy’s confidence in deepening cooperation with its Chinese partners. “We are fully committed to working together to build a new energy ecosystem that supports China’s dual-carbon goals and fosters sustainable energy development worldwide.”
Source: China State Council Information Office
Foxconn, the world’s leading electronics manufacturer, is set to build a new business headquarters in Zhengzhou, central China, in a move the Taiwan company described as “a crucial step” in expanding its presence on the mainland market.
Analysts say the decision highlights Foxconn’s commitment to investing in the mainland, despite rising global trade protectionism and “decoupling” and “de-risking” rhetoric ratcheted up by certain Western politicians.
The tech giant recently won a bid for a 2.84-hectare plot at 150 million yuan (about 21.07 million U.S. dollars) in the Zhengdong new district in Zhengzhou, capital of Henan Province, where it plans to build a headquarters focusing on key technology sectors, according to the Zhengzhou Public Resources Trading Center in a recent statement.
This initiative aligns with Foxconn’s “3+3” strategy targeting electric vehicles, digital health and robotics, along with advancements in artificial intelligence (AI), semiconductors and next-generation communication, the company said.
Foxconn’s planned headquarters will feature a construction area of approximately 70,000 square meters in its first phase, with an investment of 1 billion yuan. The company has not yet provided a groundbreaking date.
In a speech at the unveiling ceremony for the new business headquarters in April 2023, Chairman Young Liu emphasized that the headquarters will mark the beginning of a new journey for Foxconn’s strategic industry development on the mainland, and the company’s new businesses are both a response to global market trends and an embrace of the latest wave in technological advancement.
Henan’s favorable infrastructure and business environment, as well as the collaborative relationship between Foxconn and the local governments, were pivotal factors in the decision to locate the headquarters there, Liu noted.
Between February and April 2023, Liu visited Henan three times, pledging to “build a new Foxconn” in the province. In July this year, the company signed a strategic cooperation agreement with the Henan provincial government to accelerate projects related to new business ventures.
Per the deal, Foxconn plans to leverage its expertise in smart manufacturing, along with its global technological capabilities and supply chain resources, to advance projects in the new energy vehicle, energy storage battery, digital healthcare and robotics industries.
Construction of a trial manufacturing center for new energy vehicles has started at Zhengzhou Airport Economy Zone, with operations expected to commence by the end of the year.
Foxconn’s increased investment in Henan and its focus on future industries represent a win-win approach, said He Liang, an official with Zhengzhou Airport Economy Zone.
“We will continue to provide quality service and foster a first-rate business environment that is market-oriented, law-based and internationalized,” He added.
Henan and Foxconn share a deep bond.
Foxconn, the principal assembler of Apple iPhones, established operations in the inland province in 2010. By the end of 2023, its Zhengzhou factory spanned around 2.8 million square meters and had recorded 12 consecutive years of growth in industrial output. Over the years, Foxconn has further expanded its footprint across Henan, setting up facilities in cities such as Jiyuan, Hebi and Zhoukou.
The cooperation has also transformed Henan’s economy, turning the province into a global hub for intelligent terminal manufacturing. From 2016 to 2020 alone, the Zhengzhou factory attracted over 200 related supply chain enterprises to the Zhengzhou Airport Economy Zone, with total investments exceeding 300 billion yuan, according to the zone administration.
Analysts view Foxconn’s moves as part of a broader bet on emerging industries, such as new energy vehicles, solid-state batteries, robotics, AI and semiconductors — sectors that are likely to shape the future of global manufacturing.
Song Xiangqing, deputy head of the Commerce Economy Association of China, noted that the company’s increased investment in Henan underscores the opportunities created by the digital economy and technological progress on the mainland, as well as the resilience of its industrial chain and its shift toward high-quality manufacturing.
The world’s second-largest economy has been steadfastly expanding its institutional opening-up in recent decades, rolling out various policies aimed at achieving high-quality development and offering the rest of the world new growth momentum and opportunities.
At its third plenum, the 20th Central Committee of the Communist Party of China renewed the country’s commitment to the basic state policy of opening to the outside world and continuing to promote reform through opening-up.
The commitment to an open economy, paired with its massive domestic market, presents significant opportunities for companies that are aiming to scale up operations in China despite global headwinds.
In May, U.S. carmaker Tesla began construction on a mega factory in Shanghai to manufacture its energy-storage batteries. In his recent visit to China, Apple CEO Tim Cook also reaffirmed the company’s investment commitment in the country.
Source: Hong Kong Government special administrative region
Following are the closing remarks by the Secretary for Justice, Mr Paul Lam, SC, at the Second Legal Forum on Interconnectivity and Development under the Hong Kong Legal Week 2024 today (November 5):
Your excellencies, distinguished guests, ladies and gentlemen,
Thank you very much again for participating in this year’s Second Legal Forum on Interconnectivity and Development. I would first like to express my gratitude to the Commissioner’s Office of China’s Foreign Ministry in the Hong Kong SAR (OCMFA) for co-organising this forum with the Department of Justice (DoJ) of the Hong Kong SAR. OCMFA’s support and contribution are invaluable to the success of this event.
I would also like to extend my sincere thanks to the Asian Infrastructure Investment Bank (AIIB) and especially to their General Counsel, Mr Alberto Ninio, who delivered an impactful keynote address on promotion of good governance and high-quality development under international law earlier this morning. Hong Kong, China became a member of AIIB in 2017. Our arrangement for secondment of DoJ counsel to the legal department of AIIB in the past few years has been conducive to enhancing our collaboration with AIIB and strengthening the development of Hong Kong international legal and dispute resolution services, especially in the financial fields.
Following the keynote address from AIIB, the two Panel Sessions examined the critical importance of legal connectivity in our increasingly globalised landscape, as well as its impact across various fields, from international trade and commerce, dispute resolution, sanctions to emerging domains such as the governance of artificial intelligence (AI). The experience and practice of Hong Kong in connecting with high-standard international legal rules provide a good illustration for our discussion. Allow me to reflect briefly on today’s discussions and Hong Kong’s role in these vital developments.
Cross-border legal connectivity and China’s foreign-related rule of law
Legal connectivity transcends borders, bringing jurisdictions closer and promoting shared prosperity. As President Xi Jinping has noted, the fundamental purpose of advancing foreign-related rule of law is to better safeguard the interests of the country and the people, promote the progress of international rule of law and the development of a community with a shared future for mankind. China’s institutional opening-up progresses alongside its development of foreign-related legal frameworks. The rule of law forms the foundation of a favourable business environment.
The first session explored Hong Kong’s evolving legal landscape, where, under the “one country, two systems” framework, it serves as a strategic nexus for trade and commerce and dispute resolution, regionally in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as internationally. In this era of ever-changing global business norms, as China’s institutional opening-up progresses, Hong Kong serves not only as a “super-connector” but also provides unique legal services under its legal and international arbitration framework.
Rule of law to safeguard sustainable development
On the importance of the rule of law to mitigate risks and to safeguard Hong Kong’s and national sustainable development, the learned speakers have shared their insights into the global developments in financial sanctions and anti-sanctions, as well as legislative trends on anti-interference in major western countries.
As AI rapidly advances, it transforms industries and economies in a revolutionary way. This also brings with it complex global regulation and governance issues and related risks. As the final report on this subject by the United Nations Secretary-General appointed panel concludes, “the very nature of the technology itself – transboundary in structure and application – necessitates a global approach”. The discussions on this topic today are timely and relevant as we consider how to safeguard sustainable development in an increasingly inter-connected world with AI.
As President Xi stressed during the 16th BRICS Summit, “as the world becomes more turbulent, it is even more important to uphold the banner of peace, development, co-operation and win-win outcomes”. It is my sincere hope that the discussions in today’s forum could bring out a spirit of co-operation and collaboration in traditional fields like economy and trade, as well as emerging areas like artificial intelligence, with our sustainable development safeguarded by the rule of law.
Hong Kong as a global legal and dispute resolution hub
On co-operation and development, aligned with Hong Kong’s development of “eight centres” as outlined in the National 14th Five-Year Plan, the Department of Justice has taken forward policies to strengthen Hong Kong’s role as a leading legal and dispute resolution hub.
The staunch support of the Central People’s Government in strengthening the city as a centre for international legal and dispute resolution services in the Asia-Pacific region under the National 14th Five-Year Plan can be demonstrated by the establishment of the International Organization for Mediation (IOMed) Preparatory Office last year. The IOMed Preparatory Office has successfully facilitated the conclusion of negotiations on the Convention on Establishment of the IOMed last month. A decision has also been made by all the negotiating parties that a signing ceremony of the Convention will be held in Hong Kong next year and the IOMed headquarters will also be situated in Hong Kong once the Convention has entered into force.
As the world’s first intergovernmental international legal organisation dedicated to resolving international disputes through mediation, IOMed is important for the implementation of settling international disputes by peaceful means as set out in the United Nations Charter. Upon its establishment, the IOMed will provide friendly, flexible, economical and efficient mediation services, thereby building Hong Kong as a capital for international mediation.
Apart from exciting development on IOMed, we also continue to enhance our collaboration with prominent law-related international organisations, such as the International Institute for the Unification of Private Law (UNIDROIT), with which we co-organised this year’s Asia-Pacific International Private Law Summit yesterday. We are also in active discussion with UNIDROIT for the possible establishment of its liaison office in Hong Kong in the near future. These forms of collaborations enable Hong Kong to contribute to and align with international standards, thus enhancing its appeal as a global hub for dispute resolution.
In addition, with the support of the Central People’s Government and the assistance of the OCMFA, the Department of Justice has put in place programmes to second local legal talents to several law-related international organisations including the UNIDROIT. Through participating in the work of such international organisations, local legal professionals can enhance their knowledge of international legal matters and develop global vision. Nurturing Hong Kong’s legal talents is crucial for the sustainable development of the legal community, for consolidating our position as a leading international legal and dispute resolution services centre and for the long-term development of the rule of law, matters to which the Central Authorities and the HKSAR Government have attached great importance.
Fostering legal talent: Hong Kong International Legal Talents Training Academy
Following the announcement in the Chief Executive’s 2024 Policy Address, the Hong Kong International Legal Talents Training Academy will be officially launched on this Friday, Day five of Hong Kong Legal Week. To make good use of Hong Kong’s bilingual common law system and international legal status, the Training Academy will regularly organise practical training courses, seminars, international exchange programmes and more to promote exchanges among talents in regions along the Belt and Road region. It will also provide training for talents in the practice of foreign-related legal affairs for the country, and cultivate legal talents to be familiar with international law, common law, civil law, national legal systems and other legal areas. In future, our Department will make use of this capacity building platform to enable practitioners from different jurisdictions to exchange ideas on promoting the culture of harmony.
Looking ahead: Hong Kong’s future role as an international legal hub
Looking to the future, we are reminded of the traditional Chinese saying by Confucius, in Chinese is “å�›å�和而ä¸�å�Œ and in English “a gentleman seeks harmony, not uniformity”. This philosophy encourages us to pursue a shared vision despite our differences, and is crucial for enhancing interconnectivity and development in building a community of shared future for mankind. In our interconnected world, such harmony through diversity is essential for achieving lasting success and mutual respect across boundaries. Hong Kong’s dedicated efforts in aligning with and contributing to international legal standards, its experience in international dispute resolution, as well as its commitment to legal capacity-building could leave a positive impact as the world navigates through complex challenges. As China moves towards deeper institutional opening-up, Hong Kong has a significant role to play in facilitating international engagement and promoting the progress of international rule of law.
In closing, my sincere thanks to all speakers, participants, supporting organisations, colleagues at the OCMFA and the DoJ for making this forum a success. I look forward to your support for the Third Legal Forum on Interconnectivity and Development next year. Thank you very much.
Source: China State Council Information Office
Chinese President Xi Jinping on Tuesday congratulated Ratu Naiqama Lalabalavu on election as Fijian president.
In his congratulatory message, Xi said that Fiji was the first Pacific island country to establish diplomatic relations with the People’s Republic of China.
Since the establishment of diplomatic ties 49 years ago, the two countries have made substantial progress in their relations, improved the wellbeing of the two peoples and promoted peace, stability and development of the region and the world at large, he said.
The Chinese president said that he attaches great importance to the development of China-Fiji relations and stands ready to work with Lalabalavu to promote the sustained, sound, and steady development of the comprehensive strategic partnership between the two countries so as to bring more benefits to the two peoples.
Source: China State Council Information Office 2
Following strong, widespread rainfall that hit the entire island at the end of October, Hainan province encountered a new round of heavy precipitation on Sunday, triggering road closures and class suspensions in many areas.
Influenced by cold air colliding with warm, humid air currents from the southeast, multiple cities and counties in Hainan experienced sustained heavy rainfall on Monday of between 150 to 200 millimeters, leading to a level four rainstorm warning and a level four emergency response for flood and wind prevention, the lowest-level in the country’s four-tier emergency response system.
Classes in kindergartens and primary and secondary schools were forced to suspend classes in hard-hit regions such as Qiongzhong and Wanning on Monday.
Due to the impact of the rainfall, sections of some highways in Hainan have been closed to traffic because of road damage such as bridge deck cracks.
In Qiongzhong, Tunchang and Wanning, some provincial roads and village roads have been closed to traffic due to landslides.
From 8 am to 6 pm on Sunday, 11 townships in Qionghai experienced heavy rainfall, with eight hit by severe storms.
“The water in the paddy fields at the end of October hadn’t completely receded, and they’re all flooded again,” said Yang Dongqing, a resident of Xinchao village in Tanmen town, Qionghai.
He said the rain had been falling throughout the day, starting from moderate showers in the morning and escalating to a severe downpour around noon.
According to the Qionghai emergency management bureau, as of Sunday, 1,285 people have been relocated from flood prone areas of the city.
A spokesperson from the Qionghai fire and rescue brigade said members have intensified inspections on water rescue equipment and drainage facilities, and are replenishing rescue supplies comprehensively.
All fire and rescue personnel are on standby 24 hours a day and are adequately prepared for emergency rescue operations.
At a meeting on Sunday, provincial authorities emphasized the need to strive toward the goal of “zero casualties, minimal injuries and reduced losses” in the face of the latest round of heavy rainfall.
Source: GlobeNewswire (MIL-OSI)
CHINA, ZHUHAI, Nov. 05, 2024 (GLOBE NEWSWIRE) — Recently, VTR Biotech proudly announces the comprehensive upgrade of its National Enterprise Technology Center, a landmark achievement reflecting its commitment to advancing the biotechnology sector. The history of VTR Biotech began in the early 1990s when the company was founded with a vision to revolutionize the biotechnology landscape in China. From its inception, VTR Biotech has prioritized innovation and scientific excellence, rapidly establishing itself as a leader in the field. In the years that followed, the company made significant strides in research and development, resulting in groundbreaking advancements in biotechnology solutions.
The upgraded center features five state-of-the-art technology platforms: the Genetic Engineering Platform, High-Throughput Screening Platform, Biosynthesis Platform, Technology Transfer Platform, and Technical Support Platform. These platforms are designed to enhance VTR Biotech’s R&D capabilities, paving the way for groundbreaking advancements in biotechnology.
Key investments in high-performance artificial intelligence computing servers, advanced microbial selection robots, liquid handling workstations, and an expanded fully automated fermentation tank system are poised to enhance VTR Biotech’s independent R&D capabilities. These improvements aim to increase research efficiency and facilitate the practical application of research outcomes, ensuring that VTR Biotech remains at the forefront of biotechnological innovation.
“The upgrade of our National R&D Center is a monumental achievement for VTR Biotech,” said Mr. Chen, Chairman of the company. “We are proud to lead a global team of scientists and engineers working on transformative biotechnology solutions in life sciences, including genetic modification, microbiology, biosynthesis technology, and enzyme engineering. This upgrade elevates our R&D capabilities and strengthens our ability to provide innovative solutions to the global market.”
VTR Biotech’s National Enterprise Technology Center is recognized as one of China’s most prestigious enterprise technology innovation platforms, evaluated jointly by the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration. This recognition underscores VTR Biotech’s significant contribution to technological advancement in China.
In recent years, VTR Biotech has demonstrated its dedication to research and development by employing over 200 professional R&D personnel, more than 30% of whom hold postgraduate degrees. The center also boasts a team that includes 15 PhDs and 10 senior engineers. Collaborative projects with leading research institutions such as the University of Sydney, South China University of Technology, and South China Agricultural University further emphasize VTR Biotech’s commitment to transforming scientific discoveries into practical applications for the global market.
The company has undertaken four national key R&D program projects and four key R&D projects in Guangdong Province, in addition to establishing 15 national, industry, and group standards. VTR Biotech has been recognized for its innovative efforts, receiving the China Patent Excellence Award for five consecutive years.
As VTR Biotech embarks on this new chapter with the upgraded National Enterprise Technology Center, the company is poised to set new standards in the biotechnology industry, driving innovation and delivering cutting-edge solutions that meet the evolving needs of its customers. For more information about VTR Biotech and its upgraded National Enterprise Technology Center, please visit www.vtrbiotech.com
About VTR Biotech
VTR Biotech is a leading biotechnology company dedicated to advancing the field through innovative research and development. With a commitment to scientific excellence and sustainability, VTR Biotech aims to deliver high standard biosolutions that address the challenges faced by the biotechnology industry.
Media Contact
Brand Name: VTR Biotech
Contact Person: Marketing Team
Email: vtrbiotech@vtrbio.com
Tele: +86-756-8676888
Website: www.vtrbiotech.com
SOURCE: VTR Biotech
Source: China State Council Information Office 2
The 2024 Global Forum on Hehe Culture was held in Taizhou, Zhejiang province, on Saturday.
Essam Sharaf (C), former Egyptian prime minister and Orchid Awards recipient, Erik Solheim (R), former U.N. under-secretary-general, and Piet Steel (L), honorary chairman of the Europe-Asia Center and a member of the Board of Directors of Special Olympics, are honored ambassadors of Hehe Culture during a forum in Taizhou, Zhejiang province, on Nov. 2, 2024. [Photo/China.org.cn]
To honor the contributions of those in promoting Chinese cultural values and facilitating cultural exchange, the forum’s organizing committee named three distinguished global figures as ambassadors of Hehe Culture. They were Essam Sharaf, former Egyptian prime minister and Orchid Awards recipient, Erik Solheim, former U.N. under-secretary-general, and Piet Steel, honorary chairman of the Europe-Asia Center and a member of the Board of Directors of the Special Olympics .
Launched at the 2023 Global Forum on Hehe Culture, the Cultural Ambassadors of Hehe Culture program is a joint initiative by China International Communications Group, the Publicity Department of the Communist Party of China (CPC) Zhejiang Provincial Committee, the CPC Taizhou Municipal Committee, and the Taizhou municipal government, as part of their efforts to implement the Global Civilization Initiative. Every year, the program honors individuals who champion Chinese traditional culture, foster cultural exchange, and contribute to the building of a community with a shared future for mankind.