भारतीय रोज़ नई ख़बरें – भारतीय रोज़ न्यूज़ भारत की सबसे अधिकारपूर्ण, समय पर और विश्वसनीय समाचार सलाहकार वेबसाइट है

China’s actual use of foreign capital in Q1 remains at historically high level, defying West’s ‘foreign capital withdrawal’ rhetoric

A view of the skyline of Lujiazui in Shanghai on January 24, 2024 Photo: VCG

China’s actual use of foreign capital in the first quarter of this year remained at a historically high level, an official with China’s Ministry of Commerce (MOFCOM) said at a press conference held by the State Council Information Office on Friday, defying claims by some Western media that foreign capital is withdrawing from China.

The country’s continuous opening-up, supportive policies and industry upgrade are among the key drivers for more foreign capital, officials and experts said.

Friday’s data also reflect the fact that the world’s second largest economy continues to be attractive to foreign businesses, despite the West’s intensified attempts at “decoupling” or de-risking.

Speaking at Friday’s press conference, Guo Tingting, vice commerce minister said that the number of newly established foreign-invested enterprises in the first quarter of this year came at 12,000, an increase of 20.7 percent, maintaining the rapid growth trend from last year.

In terms of investment scale, the actual use of foreign capital reached 301.67 billion yuan ($41.67 billion), which was still at a historically high level, the vice minister said.

It is noteworthy that in terms of investment structure, the proportion of investment in high-tech manufacturing reached 12.5 percent during this period, an increase of 2.2 percentage points year-on-year, according to Guo.

Investment in the service industry, which is closely related to residents’ lives, also witnessed rapid growth.

The growth was driven by multiple factors, particularly China’s continuous opening-up efforts, improved market environment and industry upgrade, officials and experts said.

For example, the “Invest in China” series of activities as part of the government’s opening-up effort has received an enthusiastic response. The first landmark event alone attracted more than 140 representatives of foreign companies and business associations from 17 countries and regions, according to the MOFCOM official on Friday.

The continuous optimization of China’s business environment for foreign enterprises allows more of them to participate more fully in China’s development and gives them a sense of achievement, Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Friday.

Although there is foreign capital moving out of China, Bai said it is a part of capital market development. “Foreign investment comes and goes, much like the continuous flow of international capital markets, but the structure is constantly optimizing,” Bai said.

As China pursues industry upgrades for high-quality development, many foreign investments, especially those with advanced technology, choose to expand their investments and outlays in China, experts said, defying some Western rhetoric that there is a trend of foreign capital leaving the country.

In the first quarter, the actual use of foreign investment in the manufacturing industry reached 81.06 billion yuan, of which investment in high-tech manufacturing reached 37.76 billion yuan, Ji Xiaofeng, an official with the department of foreign investment management under MOFCOM, told the press conference on Friday.

Data from some leading international consultancies also pointed to the positive trend.

The 2024 Kearney FDI Confidence Index released by American global management consulting firm Kearney shows China jumping from 7th position to 3rd, which shows that multinational companies will continue to expand their investment in China.

In the first quarter, China’s GDP grew 5.3 percent, which was well above market expectations, as the country got off to a robust start, laying the foundation for achieving its goal of growing by around 5 percent for the whole year.

As the trend of China’s economic development is further consolidated, foreign companies see new opportunities for growth in areas such as green transformation and digitalization.

Meanwhile, more policy support is also in place to boost foreign investment.

On Friday, MOFCOM, together with nine other government departments, including the Ministry of Foreign Affairs, the National Development and Reform Commission, the Ministry of Industry and Information Technology and the China Securities Regulatory Commission, issued 16 specific measures to further support overseas institutions’ investment in domestic technology-based enterprises.

These measures include implementing differentiated supervision, supporting bond issuance and facilitating personnel exchanges.

On the same day, China’s top securities regulator issued 16 measures to boost capital markets’ support for high-tech companies, including setting up green channels for fundraising, in a bid to boost innovation and development of new quality productive forces.

In March, China’s State Council, the cabinet, issued an action plan comprising 24 specific pro-foreign investment measures to attract foreign investment, facilitate data flows and business travel. The action plan demonstrates the Chinese government’s determination and efforts to attract foreign investment, which plays a positive role in further promoting high-level opening-up, experts said.

Looking ahead, Ji said that MOFCOM is further easing barriers to foreign investment, including reasonably reducing the negative list for foreign investment access, comprehensively abolishing access restrictions in the manufacturing sector, and relaxing market access in the medical, telecommunications and other service industries.

After COVID-19, WHO defines disease spread ‘through air’

A visitor walks past an illuminated coronavirus (COVID-19) model as he visits the “Mini-Worlds on the Way of Illumination” exhibition during the Light Festival preview at the Botanical garden in Paris, France, November 12, 2022. /Reuters

The World Health Organization (WHO) and around 500 experts have agreed for the first time what it means for a disease to spread through the air, in a bid to avoid the confusion early in the COVID-19 pandemic that some scientists have said cost lives.

The Geneva-based U.N. health agency released a technical document on the topic on Thursday. It said it was the first step towards working out how to better prevent this kind of transmission, both for existing diseases like measles and for future pandemic threats.

The document concludes that the descriptor “through the air” is appropriate for infectious diseases where the main type of transmission involves the pathogen traveling through the air or being suspended in the air, in line with other terms such as “waterborne” diseases, which are understood across disciplines and by the public.

Almost 500 experts contributed to the definition, including physicists, public health professionals and engineers, many of whom disagreed bitterly over the topic in the past.

Agencies have historically required high levels of proof before calling diseases airborne, which required very stringent containment measures; the new definition says the risk of exposure and severity of disease should also be considered.

Past disagreements also centered around whether infectious particles were “droplets” or “aerosols” based on size, which the new definition moves away from.

The WHO logo is seen near its headquarters in Geneva, Switzerland, February 2, 2023. /Reuters

During the early days of COVID-19 in 2020, around 200 aerosol scientists publicly complained that the WHO had failed to warn people of the risk that the virus could spread through the air. This led to an overemphasis on measures like handwashing to stop the virus, rather than focusing on ventilation, they said.

By July 2020, the agency said there was “evidence emerging” of airborne spread, but its then chief scientist Soumya Swaminathan, who began the process to get a definition, later said, the WHO should have been more forceful “much earlier”.

Her successor, Jeremy Farrar, said in an interview that the new definition was about more than COVID, but he added that at the beginning of the pandemic, there was a lack of evidence available and experts including the WHO acted in “good faith”. At that time, he was head of the Wellcome Trust charity and advised the British government on the pandemic.

Farrar said getting the definition agreed among experts from all disciplines would allow discussions to begin about issues such as ventilation in many different settings, from hospitals to schools.

He compared it to the realization that blood-borne viruses like HIV or hepatitis B could be spread by medics not wearing gloves during procedures.

“When I started out, medical students, nurses, doctors, none of us wore gloves to take blood,” he told Reuters. “Now it is unthinkable that you wouldn’t wear gloves. But that came because everyone agreed on what the issue was, they agreed on the terminology… [The change in practice] came later.”

Source(s): Reuters

15 movies vie for Tiantan Awards at the 2024 Beijing film festival

Members of the Tiantan Award International Jury Committee pose for photos at the opening ceremony of the 14th Beijing International Film Festival, April 18, 2024. /CGTN

A total of 15 movies from across the world are competing for the Tiantan Awards at the 14th Beijing International Film Festival (BJIFF), which runs from April 18 to 26.

The festival, organized by China Media Group (CMG) and the government of Beijing, features nearly 100 events for film lovers, such as forums, roadshows and masterclasses.

The opening ceremony featuring a two-hour launch gala was held at the Beijing Yanqi Lake International Convention and Exhibition Center in Huairou District.

Over 350 film professionals, including the seven Tiantan Award jury committee members, walked the red carpet on Thursday.

“Film is an artistic bond that connects our hearts,” said Yin Yong, mayor of Beijing and chairman of the festival’s organizing committee. “In 2023, Chinese movies witnessed a rebound.”

Shen Haixiong, president of CMG and chairman of the festival’s organizing committee, expressed his respect and best wishes to the movie industry at the ceremony.

Margareth Menezes, minister of culture of Brazil, also made a speech via video link during the ceremony. “The year marks the 50th anniversary of the establishment of diplomatic relations between Brazil and China,” she said. “We are bringing four films that portray part of our cultural and territorial diversity.”

Click here to watch the live rebroadcast of the launching ceremony and the gala.

The jury committee will select the winners of 10 awards based on their depth, artistry and public appeal. The winners will be announced at the festival’s closing ceremony.

The festival will also feature over 250 high-quality films in 27 movie theaters in Beijing, Tianjin and Hebei.

Brazil is the guest country of this year’s festival. A dedicated event will be held to play Brazilian movies. Renowned director Carlos Saldanha is participating in the festival as a member of the jury committee for the Tiantan Awards.

Fan Yun, deputy editor-in-chief of CMG and vice chairman of the 14th BJIFF Organizing Committee, participated in the launch ceremony.

(Cover via CFP)

Doctor Victor’s Music Voyage, together for music

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For the first time, Icelandic musician Doctor Victor meets Chinese singer-songwriter Nerissa Wang and guzheng artist Lucy Luan at the Beijing Contemporary Music Academy. The trio previously collaborated on the dynamic hit “Space Fantasia” for China’s Space Day in April 2023. Now, they gather to engage in a salon discussion with aspiring music students, sharing insights from their creative processes and behind-the-scenes stories of the song, embodying their shared passion for music.

Concert commemorates 85 years of ‘The Yellow River Cantata’

This year marks the 85th anniversary of the premiere of “The Yellow River Cantata,” coinciding with the 75th anniversary of the founding of the People’s Republic of China. To commemorate this special occasion, a grand symphonic choral concert titled “Ode to the Motherland: Spirit of the Yellow River” has taken center stage at Tsinghua University.

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Composed by Xian Xinghai in 1939 during the Chinese People’s War of Resistance Against Japanese Aggression, “The Yellow River Cantata” remains a timeless ode to patriotic heroism and resilience in the face of hardship. With its enduring artistic charm, this musical masterpiece has spread far and wide across the continents.

Fireflies set to herald summer romance in Sichuan

The glow of fireflies burns bright each year at the Tiantai Mountain scenic area in Qionglai, southwest China’s Sichuan Province, dotting the night sky with mesmerizing light.

A recent update from local authorities revealed that the spot is about to welcome the peak period of this year’s first wave of fireflies in late April.

Photo: CFP

Tiantai Mountain is renowned as one of the world’s eight major firefly viewing spots and the largest of its kind in Asia. It boasts four main characteristics: a rich diversity of species, an abundance of fireflies, an extensive distribution, and prolonged viewing periods.

From April to October each year, about 17 species of fireflies take turns to soar through region from the foot of the mountain at an elevation of 800 meters and the spot at an elevation of about 1,200 meters. The Xiaojiawan “Firefly Valley” in the mountain area is the prime spot for firefly gazing in April. By mid-April, the forest there is adorned with a magnificent display of fireflies, resembling a dazzling galaxy.

A file photo shows a summer day in Tiantai Mountain scenic area in Qionglai, Sichuan Province. /IC

To meet public needs of firefly viewing both during the day and at night, the scenic area has been preparing a firefly micro-museum, which is nearing completion and is expected to open to visitors in mid-to-late May. Inside the museum lies a darkroom meticulously designed to replicate the natural ambiance of a nighttime setting, offering visitors the unique opportunity to witness the enchanting spectacle of fireflies illuminating the night sky.

Adding to the wonder, the museum also houses a nurturing room akin to a nursery. Here, staff cultivate fireflies, providing visitors with the chance to observe the various stages of their lifecycle.

A waterfall in summer is seen in a file photo of Tiantai Mountain scenic area in Qionglai, Sichuan Province. /IC

For those who are planning to marvel at the mesmerizing fireflies at the scenic area, it’s advisable to wear long-sleeved shirts and pants to protect yourself from mosquitoes and other insects, and use mosquito repellent sparingly as it can adversely affect the fireflies. In addition, remember to turn off all light sources, not catch the fireflies, embrace the tranquility of the night and refrain from making excessive noise, so as to allow everyone to savor the experience peacefully.

Could beer help brew up more China-Croatia trade?

WATCH: Beer and opera boosting China-Croatia ties

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Miroslav Šuvak makes beer in Croatia. Not just any beer – his brew has its own unique taste and texture.

Šuvak started Nova Runda Craft Brewery in 2013. It soon made an impact, earning a solid reputation across the European Union. Business was good, but after a while, Šuvak started looking for other opportunities. He wanted to tap into the Chinese market – something few Croatian companies had managed to get right.

“It was a challenge getting our beer into China,” says Šuvak. “You need to take into account that we are still a small company. There are only eight employees.”

Big opportunity brewing

Nova Runda may be small, but Šuvak’s big idea is paying off – the brewery is now exporting beer to China. The orders aren’t massive, but Nova Runda has developed relationships in the Chinese market. Officials say they’re trying to build more of those relationships as quickly as possible.

“As diplomats, we try to boost the amount of products that are imported by China,” says Qi Qianjin, China’s ambassador to Croatia. “We are now in negotiations to get Croatian products like tuna and honey to China.”

Miroslav Šuvak (right) founded his craft brewery in 2013. /Nova Runda

The culture of trade

Croatia’s relationship with China has been a little uneven over the last few years. The countries traded goods worth $2.5 billion in 2023, but Chinese exports accounted for the bulk of that. Croatia does export relatively large amounts of medicine and electrical appliances to China, but total exports came to just $85 million last year.

Some Croatian companies say it’s difficult to sell goods to Chinese firms. China is hoping that more contact will improve ties, and that means contact at every level. The stars of the Hangzhou Opera performed in the Croatian capital, Zagreb, earlier this month. Director Cui Wei says the performers were keen to share a little piece of Chinese culture.

“We hope that through the exchange of our traditional culture, we can bring our hearts closer,” says Wei. “We also hope that through such cultural exchanges, the two peoples can understand and integrate with each other.”

Nova Runda Craft Brewery is one of a handful of Croatian companies exporting to China. /Nova Runda

It may be a little early to toast a boom in China-Croatia trade. But Šuvak’s story suggests more deals could flow Croatia’s way. “We are not an industrial-scale producer of beer,” says Šuvak. “But yes, we still manged to get into the Chinese market.”

More exports to China may leave a very sweet taste in this part of the world – just like Šuvak’s rather special beer.

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Advanced manufacturing magnet for foreign firms amid upgrades

Daimler trucks are displayed during the 6th China International Import Expo in Shanghai in November. PHOTO/CHINA DAILY

BEIJING — China’s advanced manufacturing is attracting the attention of foreign-invested companies amid an innovation-led upgrade of the nation’s industrial chain.

“We see booming innovations in areas including new energy vehicles, and connected and automated driving trucks in China, and we consider China a place to pursue the development and application of such future-oriented products,” said Holger Scherr, president and CEO of Beijing Foton Daimler Automotive Co Ltd, and head of the Mercedes-Benz business unit.

David Fan, executive vice-president and China president of Japan-based auto parts supplier Marelli, also pointed to the growing innovation capabilities of the Chinese market as one of the important reasons for the country’s market and supply chain having an irreplaceable role for Marelli.

China’s manufacturing sector has remained a land of opportunity for foreign-invested companies over the years for its manufacturing prowess and the most comprehensive industrial chain in the world. In 2023, foreign investment into the sector accounted for 27.9 percent of the total, up 1.6 percentage points from the previous year, official data showed.

This year, the country has put developing new quality productive forces — featuring high-tech, high efficiency and high quality — atop its agenda.

The upgrade of industrial and supply chains is among the three aspects, that the development of new quality productive forces will cover, said Zhang Qingjie, head of digital enablement and head of AI at KPMG China.

Some foreign-invested companies have already noticed the gradual repositioning of China’s industrial chain, and are adopting a preemptive strategy to tap into the shift.

“We plan to promote a model of inverter compressors for heat pumps this year in Europe. The model is developed through a technology platform that we built in China, reflecting the change of the Chinese market’s core competitiveness from a comprehensive supply chain to an innovation-oriented one,” said Xu Yang, president of the China unit at Danfoss, a Denmark-based energy efficiency solutions company.

Xu said the company has been actively leveraging China’s innovation capability and improving its smart manufacturing. In April, Danfoss will launch construction of the second phase of its Haiyan campus in Zhejiang province, which is its largest manufacturing base in China, according to Xu.

Landscapes, country people and homesickness highlighted under strokes

Fang Xiangming’s works show landscapes and people in his hometown in Zhejiang province. [Photo provided to China Daily]

Fang Xiangming’s landscape paintings evoke the spirit of the Barbizon School, known for its regal depictions of the fields, woods, and people of Barbizon, near Paris, creating a sanctuary for the soul. However, Fang’s work takes on a distinct mood as he captures the landscapes and inhabitants of his native town in Kaihua, located in west Zhejiang province.

His ongoing exhibition, Hometown, at the Chinese Academy of Oil Painting until May 3, is a heartfelt tribute and offering to the land that has continuously nurtured his art and provided solace. The exhibition showcases approximately 280 oil works, sketches, and watercolors, offering a glimpse into the natural beauty and the local inhabitants who have served as his artistic and life mentors over the span of three decades.

This collection represents his gratitude and deep connection to the place that has shaped his artistic vision and provided him with inspiration and comfort.

Businesses embrace opportunities for innovation at Canton Fair as China pursues new quality productive forces despite Western protectionism

A visitor takes photos of an automated production line on display at the 135th session of the Canton Fair in Guangzhou, South China’s Guangdong Province, on April 16, 2024. Photo: Chi Jingyi/GT

Companies from both the domestic and overseas markets are flocking to the China Import and Export Fair, commonly known as the Canton Fair, held in Guangzhou, South China’s Guangdong Province, with their latest fashions on display to tap into the new opportunities for innovation as the world’s second-largest economy pursues industry upgrading for high-quality development in the new era.

While the US-led West pushes for protectionism by building a “small yard, high fence” around technologies and industry and supply chains, China’s open and cooperative stance in its development, as reflected at the Canton Fair, aligns with the world trend of globalization, experts and industry insiders said.

The Canton Fair should play a bigger role in expanding China’s high-level opening-up and promoting the building of an open world economy, Premier Li Qiang said on Thursday. He made the remarks when visiting an exhibition on the history of the Canton Fair, the Xinhua News Agency reported on Thursday.

Li Qiang also toured the booths of multiple enterprises at the venue of the 135th session of the Canton Fair, which kicked off on Monday. The Chinese premier encouraged enterprises to continuously improve their research and development capabilities, and strive for digital, intelligent and green transformation, according to Xinhua.

On Wednesday, Premier Li held a symposium with overseas buyers attending the 135th session of the Canton Fair, during which overseas buyer representatives spoke about their experience in strengthening cooperation with China through the Canton Fair, noting that the fair has long played an important role in promoting trade exchanges and friendly relations between China and other countries, the Xinhua News Agency reported on Wednesday.

Chinese experts said that the presence of Premier Li at the event sent a very important message to the world that China is always and will continue to stay open for global cooperation as the country is pursuing industrial transformation and upgrading.

The nation’s efforts on striving for industrial upgrades reflect on the proliferation of high-tech products showcased at the Canton Fair as the country is shifting from a labor-intensive manufacturer to a significant technology-driven industrial powerhouse, Li Youhuan, a research fellow at the Guangdong University of Finance and Economics, told the Global Times on Thursday.

“This transition signifies China’s capacity to offer a greater array of high-quality products with robust competitiveness and reliable supply chains to the global market,” the expert said.

Businesses have also captured the opportunities under this industry transformation.

“The Canton Fair was originally a place to source finished products and key components. But now it has become a dynamic platform for product development and innovation,” Talip Murat Kolbaşi, chairman of Arzum, Turkey’s leading electrical home appliances brand, said on Sunday during an opening reception for the 135th session of the Canton Fair.

“Most of our company’s most innovative products and best-selling goods are derived from the Canton Fair. We hope to further explore the international market through the Canton Fair platform,” said Murat Kolbaşi.

Intelligent and green products are playing leading roles at the Canton Fair. There are more than 8,700 exhibition booths set up by about 3,600 exhibitors related to electronics and home appliances, new energy, new-energy vehicles, smart mobility, industrial automation and intelligent manufacturing, the Global Times learned.

Behind the appearance of more and more intelligent sci-tech innovation products at the Canton Fair is that Chinese enterprises have gradually established the foundation and advantages to support the development of new quality productive forces.

Embracing global markets and establishing a more stable industrial chain and supply chain have become the direction of Chinese manufacturing enterprises doing foreign trade, industry insiders said.

“It’s important to come to the Canton Fair to get deals done, but it’s more important to look at industry trends. Chinese products and technologies are being updated and iterated very fast and are now leading the world,” Zhu Qiucheng, CEO of Ningbo New Oriental Electric Industrial Development, an exporter of pet furniture and home furnishing products, told the Global Times on Thursday.

Innovative pet products have always seen an increase in exports, said Zhu, adding that the company releases new products every two months to meet market needs.

“Productivity upgrading promotes the transformation and upgrading of China’s foreign trade, and the more difficult the external environment is, the more high-tech products can seize the foreign trade market,” said Zhu.

In recent years, the proportion of intermediate and capital goods on display has increased significantly. In the machinery exhibition area where capital goods are concentrated, the number of booths has increased by more than 50 percent in the past five years, the Global Times reporter learned.

China’s open stance on sharing opportunities arising from its industrial transformation sharply contrasts with the intensified actions taken by some Western countries, led by the US, which have implemented regressive and even negative measures in international trade, said Li Youhuan.

“As China continues to pursue opening up to the outside world, the role of the Canton Fair as a platform for global cooperation will only be strengthened. This will enable both domestic and overseas businesses to share greater benefits of joint development,” the expert added.