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Tag: InternationalNews

  • China’s efforts to cultivate new quality productive forces to deliver global benefits

    During the latest episode of the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency, guest speakers concurred that this development strategy will not only generate vast opportunities for global investors seeking innovation-driven growth, but also create a more prosperous and sustainable future for the world.

    First introduced in 2023, new quality productive forces refer to advanced productivity freed from the traditional economic growth mode and productivity development paths. It features high-tech, high efficiency and high quality.

    CREATING NEW OPPORTUNITIES

    “Alongside Chinese companies, global investors are seizing a new round of opportunities arising from the development of new quality productive forces,” said Wang Jinxia, deputy director of the Qianhai Authority. Qianhai is a modern service industry demonstration zone in the southern economic powerhouse Shenzhen.

    Wang noted that as China remains the world’s largest market, the development of new quality productive forces will continue to generate market demand, attracting a growing number of global investors.

    Eyeing new business opportunities, foreign companies have invested over 40 billion U.S. dollars in Qianhai, official data shows.

    “Additionally, the development of new quality productive forces is offering global investors opportunities to play a greater role in the latest round of technological revolution as well as globalization,” Wang said.

    French multinational Schneider Electric established several research and development centers across China in 2023 on digital power, automation and artificial intelligence.

    “The importance of the Chinese market, from my point of view, has not changed,” said Barbara Frei, the executive vice president of Schneider Electric, in a recent interview with Xinhua. She voiced confidence in China’s position as a more mature economy and the biggest market in industrial automation, and highlighted the country’s role as an “innovation driver.”

    Amid China’s latest efforts to foster new quality productive forces, Vice Premier Zhang Guoqing recently emphasized the need to integrate sci-tech innovation with industrial innovation, calling for efforts to promote large-scale equipment and technological upgrades in China’s manufacturing industry.

    The country has also pledged to continue shortening its negative list for foreign investors, scrapping all restrictions for those entering the country’s manufacturing industry.

    Driven by the country’s unwavering focus on innovation, foreign direct investment in China’s hi-tech manufacturing sectors reached 37.76 billion yuan (about 5.32 billion U.S. dollars) during the first quarter of this year, according to the Ministry of Commerce.

    FUELING GLOBAL GREEN SHIFT

    As China continues to cultivate new quality productive forces through sci-tech innovation, the country is also sharing its intelligent, eco-friendly and inclusive technologies with other countries, said Liu Dongmei, secretary of the Party Committee of the Chinese Academy of Science and Technology for Development, during the China Economic Roundtable.

    The world is faced with challenges including food security, natural disasters and climate change, Liu noted, adding that with its rich experience, China has much to offer in addressing these issues.

    “The country is developing new quality productive forces in an open and inclusive manner, which means that it is willing to share its knowledge and innovation outcomes with the rest of the world,” Liu said. “I believe that developing new quality productive forces is essential for not only driving global economic growth but also for forging a better future for humanity as a whole.”

    Frei said that China boasts global leadership in supplying components for renewable markets, including wind turbines, solar panels and electric vehicle batteries. “In today’s energy landscape, China leads the way.”

    A report titled “Renewables 2023” by the International Energy Agency (IEA) has described China as the “world’s renewables powerhouse,” citing the economic attractiveness of renewable energy technologies as well as a supportive policy environment. “China’s role is critical in reaching the global goal of tripling renewables because the country is expected to install more than half of the new capacity required globally by 2030,” the report stated.

    According to Fatih Birol, executive director of the IEA, China is a “champion of the world in clean energy” due to its excellent progress in solar and wind power, electric vehicles and power batteries, which helps lower the prices of clean energy equipment for other countries.

  • China unleashes new quality productive forces in push for reform, innovation

    What are the core elements of “new quality productive forces”? How should they be developed, and what are the implications for the rest of the world? In the sixth episode of the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency, government officials and industry insiders shared their insights on some of the most frequently asked questions about the buzzphrase.

    INNOVATION AT CORE

    First introduced in 2023, new quality productive forces refer to advanced productivity freed from the traditional economic growth mode and productivity development paths. It features high-tech, high efficiency and high quality, and comes in line with the new development philosophy.

    The new strategy comes amid China’s push for high-quality development and the surging tide of new scientific revolution and industrial transformation, according to Liu Dongmei, Party chief of the Chinese Academy of Science and Technology for Development.

    “Scientific and technological innovation is the core of the new quality productive forces,” she said, noting that through sci-tech innovation, especially in breakthrough and disruptive technologies, new growth impetus can be provided for economic development.

    China’s overall strength in science and technology innovation has steadily improved in recent years, with the country’s research and development (R&D) expenditure exceeding 3.3 trillion yuan (about 463.5 billion U.S. dollars) in 2023, an increase of 8.1 percent year on year.

    Huang Hanquan, head of the Chinese Academy of Macroeconomic Research affiliated to the National Development and Reform Commission, said the development of the new quality productive forces covers both emerging industries and traditional industries, and that innovation involves technologies as well as institutions and management.

    “Sci-tech and institutional innovations are like two wheels propelling the growth of China’s total factor productivity,” Huang said at the roundtable.

    Qianhai in China’s southern tech hub Shenzhen, a modern service industry demonstration zone, has set an example in developing new quality productive forces through technological and institutional innovations.

    Wang Jinxia, deputy director of the Qianhai Authority, said local authorities focused on fostering an industrial cluster for artificial intelligence, intellectual property protection, strengthening financing support and building large platforms for industrial development.

    Today, there are around 55,000 tech firms in Qianhai, of which 2,239 are national high-tech enterprises, and 14 are unicorn companies or startups valued at more than 1 billion U.S. dollars, according to Wang.

    GUIDING FUTURE REFORMS

    The new strategy has charted a clear path for high-quality development and relevant reforms as China strives to eliminate the bottlenecks that strain the development of new quality productive forces, according to the panelists.

    Institutional reforms in the field of science and technology essentially involve forming new relations of production that are in line with the new quality productive forces, Liu said.

    Liu added that one crucial aspect of these reforms lies in interdepartmental coordination in terms of formulating strategy, allocating resources, and distributing major facilities to maximize the efficiency of resource utilization.

    Echoing Liu’s views, Huang said institutional reforms ought to be multifaceted and comprehensive, thereby facilitating the smooth flow of high-quality factors like capital, data and talent toward high-quality productive forces.

    Huang also underscored the need to reform the sci-tech system to encourage inputs into basic research for more original and disruptive achievements, and to reform services to expedite the application of technological advancements, transforming them into tangible productivity.

    In particular, both Huang and Liu highlighted the role of talent management in driving technological innovation.

    Efforts need to be made to create a more enabling environment for innovation to attract more talents to work and live in China, reform the education system to nurture more future scientists, craftsmen and engineers, and improve evaluation systems to encourage long-term basic research, Liu said.

    GLOBAL BENEFITS

    China’s ongoing efforts to foster new quality productive forces will inject fresh momentum into global economic growth and provide massive opportunities for investors, according to the panelists and other industry insiders present at the roundtable.

    “Alongside Chinese companies, global investors are seizing a new round of opportunities arising from the development of new quality productive forces,” said Wang with Qianhai Authority.

    China’s development of new quality productive forces would generate opportunities for tapping into the country’s expanding market, according to Wang.

    Global investors will also be able to work with China in pushing for the explosion of the new technological revolution, and participate in the latest wave of globalization, he said, adding that foreign companies have already invested over 40 billion U.S. dollars in Qianhai.

    The development of China’s new quality productive forces may have significant impacts on the global economy, influencing innovation and competitiveness across various sectors and industries, said Ronnie Lins, director of the China-Brazil Center for Research and Business.

    Driven by China’s unwavering focus on innovation, foreign direct investment in the country’s hi-tech manufacturing sectors reached 37.76 billion yuan (about 5.3 billion U.S. dollars) during the first quarter of this year, official data showed.

    As China continues to cultivate new quality productive forces, the country is also sharing its intelligent, eco-friendly and inclusive technologies with other countries, said Liu with the Chinese Academy of Science and Technology for Development.

    The world is grappling with several pressing global challenges, encompassing food security, natural disasters and climate change. With its rich experience, China has much to offer in addressing these issues, she said.

    “I am very optimistic that this new, high quality, high-tech, productive forces would be a huge step forward for humans, can make much better and lower-cost products. And we can do it in a much more environment-friendly way,” said Erik Solheim, co-chair of the Europe-Asia Center and former under-secretary-general of the United Nations.

  • Xi holds talks with Polish president

  • Xi sends congratulatory letter to China-U.S. youth festival

    Noting that the century-long bond with Kuliang is a story of friendly exchanges between the Chinese and U.S. people, Xi said he is pleased to see young people from all walks of life in China and the United States gather in Fuzhou to relive the story of Kuliang, pass on the love of Kuliang, and help enhance exchanges and understanding between the two peoples.

    Young people are energetic and full of dreams, and the future of China-U.S. relations lies in young people, Xi stressed.

    Xi said it is hoped that Chinese and U.S. youth will have in-depth exchanges, enhance friendship, know each other well and work hand in hand to carry forward China-U.S. friendship, contribute to the sound and steady growth of China-U.S. relations, and work with people around the world to build peace, promote progress and create prosperity.

    The “Bond with Kuliang: 2024 China-U.S. Youth Festival,” opened on Monday, is co-organized by the Chinese People’s Association for Friendship with Foreign Countries, the Fujian Provincial People’s Government, and the All-China Youth Federation.

  • Xi presents China’s top sci-tech award, delivers important speech

    Li Deren and Xue Qikun won the national top sci-tech award for the year 2023.

    Accolades were also bestowed upon a selection of distinguished projects during Monday’s meeting.

    Research on the computational prediction of topological electronic materials and 48 other achievements were honored with the State Natural Science Award. Dozens of projects were presented with the State Technological Invention Award. More than 100 projects were issued with the State Scientific and Technological Progress Award.

    A total of 10 foreign experts won the International Science and Technology Cooperation Award.

  • Xi inspects northwest China’s Ningxia

    Xi visited a residential community in the city of Yinchuan, the regional capital, to learn about how Party organizations at the primary level perform their duties.

    He also learned about the community’s work in improving services for residents and facilitating exchanges and interactions among people of different ethnic groups.

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits a residential community in Yinchuan, northwest China's Ningxia Hui Autonomous Region, June 19, 2024. Xi inspected northwest China's Ningxia Hui Autonomous Region on Wednesday.

  • Xi inspects northwest China’s Qinghai Province

    During the inspection, Xi visited a middle school and a Tibetan Buddhist temple in Xining, capital city of Qinghai.

    He learned about local efforts in advancing the education work through collaboration between the eastern and western regions and paired assistance, and in strengthening education on forging a strong sense of community for the Chinese nation.

    Xi also learned about the efforts made by the Tibetan Buddhist circle in carrying forward the fine traditions of loving the country and the religion, and in promoting ethnic unity and progress.

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits a middle school in Xining, northwest China's Qinghai Province, June 18, 2024. Xi inspected Qinghai Province on Tuesday.

  • Commentary | New quality productive forces for better China and world

    At present, promoting high-quality development has become the main theme of China’s economic and social growth. Developing new productive forces will pave the way for China to seize the opportunities provided by a new wave of technological revolution and industrial transformation, further liberate and develop productive forces and achieve high-quality development in the new era.

    The new quality productive forces are featured by innovation. China will continue to promote innovation, better understand the importance of sci-tech innovation, boost sci-tech innovation with greater determination and intensity, firmly grasp key core technologies, persevere in strengthening basic research, and strengthen the main position of enterprises in innovation to promote the emergence of original and disruptive technological innovations.

    China will boost industrial innovation with sci-tech innovation, accelerate the transformation of sci-tech achievements into real productivity, transform and upgrade traditional industries, cultivate and strengthen emerging industries, plan and build future industries, accelerate the construction of modern industrial systems, and build a foundation for the development of new quality productive forces.

    Developing new quality productive forces is not just a matter of development but also a matter of reform. New quality productive forces are jointly cultivated and driven by the government’s “visible hand” and the market’s “invisible hand.”

    China will deepen reforms in its economic and sci-tech systems, strive to clear the bottlenecks restricting the development of new quality productive forces, establish a high-standard market system, and innovate the allocation of production factors so that various advanced and high-quality production factors can effectively contribute to the development of new quality productive forces.

    China will unswervingly expand high-level opening up, steadily expand institutional opening up with regard to rules, regulations, management and standards, and build a market-oriented, rule-of-law, and internationalized first-class business environment, so as to create a better environment and conditions for the development of new quality productive forces.

    As China develops new quality productive forces with a focus on the great rejuvenation of the Chinese nation, these efforts will also contribute to world peace, development, mutually beneficial cooperation and common prosperity through its modernization endeavors.

    Standing at a new crossroads of human development and facing the world’s profound changes unseen in a century, developing new quality productive forces will further stimulate the vitality and potential of China’s large market, enhance the role of China’s economy as a global growth engine, and inject new impetus into the world economic recovery.

    China’s efforts to develop new quality productive forces will also create new opportunities for win-win development, expand new practices in economic governance, and continuously develop new forms of human civilization.

    As China is comprehensively promoting Chinese modernization with high-quality development, accelerating the development of new quality productive forces will not only ensure that China’s economy navigates through challenges and achieves sustained progress, but will also enable other countries to share the dividends of China’s development.

  • Xinhua Institute launches report on new quality productive forces in Brussels

    “Empower China, Benefit the World — an Analysis of the Theoretical Contribution and Value Orientation of New Quality Productive Forces” (Chinese and English editions) was launched at the China-Europe Think Tank Forum, which was co-hosted by Xinhua News Agency and the Europe-Asia Center.

    In a speech delivered at the meeting, Fu Hua, president of Xinhua News Agency and chairman of the academic committee of Xinhua Institute, said that the concept of “new quality productive forces” creatively put forward by Chinese President Xi Jinping was based on his insightful observation of the world’s sci-tech and economic trends.

    Fu said that the concept contributes greatly to international economic theories, deepens understanding of the laws of productivity development, and further answers a series of major issues concerning the development of the Chinese economy in the new era.

    Developing new quality productive forces will not only propel the great ship of the Chinese economy to ride the wind and waves, and sail far and wide, but will also promote sharing of development dividends between China and other countries in the world, and make win-win cooperation more fruitful, so as to help build a better world that features peaceful development and prosperity for all, Fu said.

    The report is the latest achievement of Xinhua Institute’s research on this concept, Fu noted, adding that Xinhua News Agency will strengthen research and cooperation with think tanks from other countries and jointly provide suggestions and proposals on developing the world economy.

    Fabrizio Hochschild, former under-secretary-general of the United Nations, said at the forum that the concept of new quality productive forces is beyond China’s border.

    Noting that China is the world’s second-largest economy, the scale of its manufacturing industry ranks first in the world and it also leads in the green energy sector, he said that China developing new quality productive forces is critical not only to its economic development but also to promoting new round of sci-tech revolution and industrial revolution represented by artificial intelligence.

    The report with five chapters focuses on Xi’s important discourses on developing new quality productive forces. Based on in-depth investigation and research, it systematically elaborates on rich connotation, essential elements, practice pathways and scientific methodologies of the new quality productive forces.

    It presents ten cases from various fields, showcasing the live practices of new quality productive forces in China.

    Over 100 representatives from political, think tank, media and business circles of China and Europe, as well as from international organizations, participated in the forum.

    Fu Hua, president of Xinhua News Agency and chairman of the academic committee of Xinhua Institute, delivers a speech at the China-Europe Think Tank Forum and the Launch of the Report on New Quality Productive Forces in Brussels, Belgium, June 19, 2024. (Xinhua/Zhao Dingzhe)A robot demonstrates Chinese calligraphy writing at an exhibition hall of JAKA Robotics in east China's Shanghai, May 24, 2024. (Xinhua/Gong Bing)This photo taken on May 10, 2024 shows an assembly workshop of Ruipu Saike Power Battery Co., Ltd in Liuzhou, south China's Guangxi Zhuang Autonomous Region. (Xinhua/Jin Haoyuan)

  • Xinhua, AP presidents discuss media cooperation

    The AP is an important partner of Xinhua, and the two sides have maintained an amicable relationship for a long time, said Fu, who leads a delegation in the United States.

    Fu expressed the hope that the two sides further extend cooperation in news and information services, strengthen exchanges on the application of new technologies in the media industry, and deepen cooperation under multilateral mechanisms.

    The AP and Xinhua have a relationship going back over 50 years, and it has stood the test of time, said Veerasingham.

    “We have seen many changes in the world, but I think the relationship that the two organizations have forged together for so long is a really important indicator for how we can strengthen our relationship in the years ahead,” said Veerasingham.

    The two sides exchanged signed copy of their cooperation agreement on the distribution of photos, videos and press releases, and also discussed challenges and opportunities like the utilization of artificial intelligence and the coverage of Olympic Games.

    President of Xinhua News Agency Fu Hua and Daisy Veerasingham, president and CEO of the Associated Press (AP), exchange signed copy of cooperation agreement in New York, the United States, June 12, 2024. (Xinhua/Li Rui)