Nigeria Times

By Li Yanan, People’s Daily

Amid the sprawling desert of Hotan prefecture, northwest China’s Xinjiang Uygur autonomous region, greenhouses spread across vast expanses, providing abundant light and heat resources for the growing crops.

These greenhouses are within a plant factory of an agricultural industrial park. Here, the soilless cultivation has been made possible by three-layer frames, which provide a vertical space for the rice seedlings to grow, leading to a significant increase in the per-unit yield.

With this cultivating technology, it takes just 60 days for the rice seedlings to harvest, a remarkable improvement compared to ordinary farming practices that usually take 120 to 150 days on average for rice to mature.

“We used the local new rice for this cultivation by taking fast breeding technology. The seedling cultivation took 15 days, and the entire production cycle is 60 days by far,” said Wang Sen, a researcher with the Institute of Urban Agriculture (IUA) of the Chinese Academy of Agricultural Sciences.

The significant reduction of the rice growth cycle was accomplished by the research team led by Yang Qichang, chief scientist with the IUA. By adopting the speed breeding technology, the team has not only cut the growth cycle of rice by half, but allowed rice to be cultivated throughout the year, without being limited by seasonal factors.

According to Shi Dawei, a member of Yang’s team, the plant factory is equipped with numerous LED lights, which are indispensable for speed breeding. The team has managed to adjust the lighting conditions to meet the photosynthesis needs at different stages of rice cultivation, thereby achieving precise lighting and a shortened rice growth cycle, Shi noted.

Yang said that the plant factory can precisely control temperature, humidity, lighting, carbon dioxide, and nutrition in the root zone of the rice. In April 2024, the factory harvested the first batch of rice using speed breeding technology, achieving a yield of 1,051.5 kilograms per mu (about 70 kg per hectare). Since May, two more batches of the same rice variety have been harvested, both yielding over 1,000 kg per mu. Currently, the fourth batch of rice seedlings is being cultivated.

“We plan to further enhance grain production in the greenhouses of the Gobi Desert. With the potential to harvest five batches of rice annually, we could increase the yield to approximately 5,000 kg per mu every year, thereby contributing to food security,” said Yang.

The research team has also adopted a three-dimensional seedling cultivation machine that keeps rotating to ensure ample sunlight and even growth of each seedling, according to Yang Jun, another member of Yang’s team.

“The seedlings can mature in 15 days. Covering about 10 square meters, a single machine can provide seedlings for 50 mu of land,” he said.

Hotan is an ideal place for experimentation and building greenhouses because the land and operating costs are relatively low here with its vast deserts, abundant sunlight and heat resources. “We can make the most of natural light and accumulate heat without relying on coal heating to control temperature,” Yang said.

After more than two years of trial planting, Yang’s team has successfully addressed the main obstacles to speed breeding in desert greenhouses.

“The building cost of these efficient and energy-saving desert greenhouses is approximately 350 yuan (about $49.19) per square meter. The use of technologies such as new energy, machinery, and smart equipment will help to further reduce the costs,” said Yang Qichang.

The agricultural industrial park in Hotan has four plant factories. In addition to rice, other crops such as corn, tomatoes, and pepino melons are also cultivated here. Currently, Yang and his team are working on key technologies for speed breeding of staple crops like soybeans, corn, and wheat, as well as rapeseed, cotton, and alfalfa. Their goal is to provide technological support for speed breeding and efficient production of greenhouse crops.

By Qiu Chaoyi, People’s Daily

Hefei, capital of east China’s Anhui province, has been making headlines with a series of innovation breakthroughs recently.

In the first quarter of this year, Hefei’s high-tech manufacturing sector saw a 42.4 percent increase in added value, up 7.5 percentage points year-on-year. Meanwhile, the production of new energy vehicles (NEVs) in the city grew by 28.8 percent, and the export of integrated circuits increased by 31.4 percent, signaling rapid growth of new quality productive forces.

The Comprehensive Research Facility for Fusion Technology located in Hefei is expected to be completed next year; the chip “Xiaohong” independently developed by a Hefei-based research institution has been successfully delivered; the third-generation autonomous superconducting quantum computer, Origin Wukong, developed by a company in Hefei, has been accessed remotely by users from over 100 countries.

At the High Magnetic Field Laboratory of the Hefei Institutes of Physical Science (HFIPS), Chinese Academy of Sciences (CAS), in Science Island, a hub for nuclear fusion research in the outskirts of Hefei, stands a huge “iron can” as high as six meters.

“This is the Steady High Magnet Field Facility (SHMFF). It boasts world-leading comprehensive performance and internationally leading experimental conditions,” said Liu Jianguo, president of the HFIPS.

According to Liu, the facility is used to facilitate studies in physics, chemistry and material science, which not only promotes basic research, but also contributes to industrial innovation.

“For example, leveraging scientific facilities such as the SHMFF and the experimental advanced superconducting tokamak, also known as the “artificial sun,” a series of breakthroughs like proton therapy systems and new targeted drugs have been developed. Since the start of China’s 14th Five-Year Plan period (2021-2025), over 1,500 technology transfer agreements have been signed with enterprises,” Liu told People’s Daily.

Hefei is actively positioning itself as a hub for scientific and technological innovation by aligning the innovation chain with the industrial chain.

The city has deployed 13 large-scale scientific facilities, established 35 high-level new research institutes, and co-founded 53 collaborative innovation platforms with leading academic institutions. On Science Island alone, over 450 companies have been incubated, and around 80 of them have been nurtured into national high-tech enterprises.

Nestled among lush meadows, the Second Advanced Manufacturing Base of Chinese electric vehicle manufacturer NIO looks like a serene garden.

In the workshops of the factory, industrial robotic arms work swiftly, automatically welding car frames. On the ground, transport robots busily move about, while elevators go up and down for faster assembly.

“We’ve achieved 100 percent paperless operations here, and one car rolls off the line every minute,” said Jiang Zhaojun, head of the factory.

According to Jiang, the production line is flexible and of high precision, offering more than 3 million configuration combinations across different models to better meet diverse consumer needs.

Hefei has built a complete industrial chain for the NEV industry that covers key components, vehicle manufacturing and the aftermarket, and developed the most advanced industrial cluster in China for new display technologies. It also leads the world in terms of photovoltaic inverter shipments.

In recent years, Hefei has accelerated the formation of strategic emerging industrial clusters. Its capability is growing stronger and stronger in the development of such industries as chip, display, NEV, AI-business fusion, integrated circuit, smart terminal, biomedicine and AI speech.

In an exhibition hall of QuantumCTek in Hefei, a leader in the commercialization for quantum information technology, a seemingly ordinary smartphone catches the attention of many. When a text is typed in the communication app of the phone, the phone’s screen displays an entirely different sentence.

“This phone is equipped with quantum key technology, which can encrypt texts, voices, images, and other information, making it valuable for secure communications,” said Tang Shibiao, vice president of QuantumCTek. The company holds the highest number of patents in quantum communication globally, with its products applied in sectors such as government services and finance.

China’s leading AI and intelligent speech company iFLYTEK has an AI experience center in Hefei, where various intelligent products and services are exhibited. For instance, it houses an industrial diagnostic system that detects equipment anomalies by “listening” to sounds, iFLYTEK’s large language model SparkDesk has been installed in nearly 60 million vehicles, and the company’s smart education services are used by over 50,000 schools across the country.

“We are leveraging our expertise in AI to provide intelligent support for people’s work and life,” said Han Yuchen, deputy general manager of branding and marketing at iFLYTEK.

An official with the Hefei Development and Reform Commission said that in the future, the city will continue to promote the synchronized growth of technological innovation and industrial development, injecting new momentum into the advancement of new quality productive forces.

By Luo Shanshan, People’s Daily

The 7th China International Import Expo (CIIE) will be held in east China’s Shanghai from Nov. 5 to 10. As a major platform for high-level opening up, the 7th CIIE continues to demonstrate China’s continuous efforts to share its market opportunities with the world.

First held in 2018, the annual expo has fulfilled its platform function for international procurement, investment promotion, people-to-people exchanges and open cooperation, becoming a public good for the whole world.

According to Tang Wenhong, China’s assistant minister of commerce, the total exhibition area of the 7th CIIE will exceed 420,000 square meters. It has attracted participants from 152 countries, regions, and international organizations in both Country Exhibition and Business Exhibition. As an important part of the CIIE, the Hongqiao International Economic Forum will include a main forum and 19 sub-forums.

The Business Exhibition will maintain its massive scale of over 360,000 square meters, attracting 3,496 exhibitors from 129 countries and regions. Both the numbers have surpassed those of the previous edition.

A record-breaking 297 Fortune Global 500 companies and industry leaders will be present, with 186 companies and organizations participating for seven consecutive years.

The 7th CIIE will continue to establish itself as a global platform for product debuts, cutting-edge technology launches, and innovative service introductions. It has attracted 39 government procurement delegations and 4 industry procurement delegations, totaling 780 trade sub-groups, achieving a new record.

The innovation incubation zone in the Business Exhibition has achieved improvements in both scale and quality this year. For the first time, it features four major tracks: digital economy, green and low-carbon technology, life sciences, and manufacturing technology, with both exhibition area and number of projects reaching historic highs.

The technology and equipment exhibition area will focus on three main themes: technology, industry, and environmental protection. The technology section will feature a dedicated area for new materials for the first time. The industrial chain in the integrated circuit industry section has been further improved and the artificial intelligence (AI) experience zone further upgraded.

The industrial section is expected to highlight three exhibition areas: upstream industrial systems and basic equipment, midstream industrial control system automation and integration solutions, and downstream end-user applications.

The environmental protection section covers new energy, water treatment, and environmental technologies, and will be joined by four of the world’s major water treatment companies.

The Country Exhibition continues to serve as an important platform for countries to showcase their images and trade and investment opportunities, featuring the participation of 77 countries and international organizations.

France, Malaysia, Nicaragua, Saudi Arabia, Tanzania, and Uzbekistan will be the guest countries of honor. The expo will provide free exhibition booths to companies from 37 least-developed countries, facilitating their participation in the Country and Business Exhibitions. It will also expand the African products zone. This demonstrates China’s commitment to expanding unilateral opening up to the least-developed countries and making its development inclusive and universally beneficial.

The sub-forums of the Hongqiao International Economic Forum will address topics such as AI, new energy storage, new energy vehicles, and sustainable urban development, providing insights for emerging industries.

For the first time, it will host events themed around “sustainable development driven by new quality productive forces,” to explore pathways for businesses to achieve green and sustainable development.

The CIIE, which aims to expand imports of high-quality products and services into the Chinese market, serves to showcase China’s major opening-up measures. By constantly unleashing the dividends of openness, it strives to build a platform that allows the world to share China’s new development opportunities.

The previous six editions saw nearly 2,500 new products, technologies, and services make their debuts, with combined intended turnover reaching over $420 billion. The expo has facilitated precise matchmaking for more than 1,130 foreign enterprises and investment promotion agencies across different regions. Many exhibitors have gone on to open new stores, factories, and R&D centers in China.

Leveraging the vastly huge China market, the CIIE has enabled exhibits to become traded goods and exhibitors to spot more investment opportunities.

As China’s frontier of opening up, Shanghai is seizing the opportunities presented by the CIIE to advance high-level international engagement. According to Hua Yuan, vice mayor of Shanghai, the city has undertaken a series of explorations and practices benchmarked against the highest international standards and best practices.

The China (Shanghai) Pilot Free Trade Zone and its Lin-gang Special Area have shown remarkable progress. In the past five years since its establishment, the Lin-gang Special Area has seen the annual output value of industries above the designated size increase by 34.6 percent on average, and the actual use of foreign direct investment has reached an average annual growth rate of 45.3 percent. The special area has become a new engine for Shanghai’s economic growth.

The city is also innovating new platforms for open cooperation. The pilot zone for Silk Road e-commerce cooperation, the first of its kind in China, has been set up in the city and made steady progress, achieving ten institutional innovations including “single declaration, bilateral customs clearance” and cross-border e-invoice interoperability.

Among the 104 key tasks outlined in Shanghai’s overall plan for building the Hongqiao international opening-up hub, 100 have been implemented.

By Xu Lingyuan

In the town of Postmasburg in Northern Cape Province of South Africa, where there are abundant sunshine and vast land, the Chinese-built 100-megawatt (MW) Redstone Concentrated Solar Thermal Power (CSP) Project resembles a giant sunflower, harnessing the sun’s light and heat.

The project, known as South Africa’s largest renewable energy project, was successfully connected to the country’s power grid in mid-September this year, marking the beginning of a crucial phase in the construction of the project.

Once fully operational, the project is expected to contribute approximately 480 gigawatt-hours (GWh) of clean electricity to South Africa’s power grid annually, meeting the electricity needs of over 200,000 households.

While helping alleviate local electricity shortages, the project will also reduce South Africa’s reliance on traditional fossil fuels.

In the desert on the outskirts of João Câmara, a city in the northern Brazilian state of Rio Grande do Norte, State Grid Brazil Holding, a subsidiary of the State Grid Corporation of China, created an oasis of renewable energy – the Gameleira Wind Complex.

The wind power project generates around 360 million kilowatt-hours (kWh) of clean electricity per year, equivalent to saving 129,600 tonnes of standard coal and reducing carbon dioxide emissions by 358,900 tonnes. It has also created over 2,000 job opportunities for the local people.

In recent years, BRICS countries have actively carried out cooperation in green energy development, fully utilizing the unique renewable energy resources of each country, such as solar and wind power, to promote the implementation of clean energy projects, injecting “green power” into the efforts to boost development and improve people’s livelihood.

China has been continuously advancing energy transformation, effectively reducing the technological costs of clean energy cooperation among BRICS countries.

In recent years, China has accelerated the construction of a clean, low-carbon, safe and efficient energy system, and made significant progress in coordinated pollution reduction and carbon mitigation.

So far, China has established the world’s largest carbon emissions trading market, covering an annual carbon dioxide emissions volume exceeding 5 billion tonnes.

The country has also vigorously promoted the development of renewable energy, ranking first globally in terms of the installed capacity of hydropower, photovoltaic, and wind power.

Cooperation among BRICS countries in energy transformation and green, low-carbon initiatives is becoming increasingly close, resulting in the emergence of a good number of exemplary cooperative projects, including the Health Facility Solar Electrification initiative in Ethiopia and the supply of 96 subway cars to the Brazilian city of Belo Horizonte.

The “BRICS Industrial Cooperation Casebook”, a document released at the BRICS Forum on Partnership on New Industrial Revolution 2024 held in Xiamen, southeast China’s Fujian province in September this year, reveals a multitude of exemplary cooperative projects among BRICS countries in new industrial revolution in recent years, covering energy transformation and green, low-carbon initiatives.

The “International Cooperation Initiative on New Industrialization” launched during the forum proposes that BRICS countries expand pragmatic cooperation in industries such as photovoltaic power generation, wind power equipment, and new energy vehicles, to accelerate the green transformation of industries.

Funeka Yazini April, coordinator of the BRICS Research Center at Human Science Research Council, believes that the efforts of BRICS countries to enhance cooperation in green energy development, utilization, and technological innovation, and accelerate green and low-carbon transformation hold significant importance for promoting both their own and global sustainable development.

As the global challenges brought about by climate change intensify, developing countries have become the principal victims of climate change issues.

The BRICS countries have always been concerned about the common future of humanity and have emerged as a crucial force in addressing climate change.

The BRICS countries have initiated the BRICS cooperation to jointly tackle the challenges posed by climate change.

At the 14th BRICS Trade Ministers Meeting held in July this year, relevant parties adopted the Joint Communique of the 14th BRICS Trade Ministers Meeting and the “BRICS Statement on Environmental and Climate-related Trade Measures, emphasizing opposition to unilateralism and green protectionism.

During the meeting, relevant parties reached consensus on enhancing exchanges in green technologies and promoting cooperation on standards for green products, and agreed to compile standards and best practice cases related to green products, which laid a crucial foundation for further strengthening the alignment of standards and cooperation on new energy vehicles, lithium batteries, solar panels, and other products among BRICS countries.

In September this year, the New Development Bank (NBD) and nine other multilateral development banks announced that their global climate finance reached a record high of $125 billion in 2023.

The NBD’s previously released 2022-2026 General Strategy indicates that over the next five years, the bank would provide $30 billion in funding support to member countries, with 40 percent of the funds allocated for climate change mitigation efforts.

Andrey Gubin, an associate professor with Russia’s Far Eastern Federal University, believes that dialogue and exchanges between BRICS countries and more emerging markets and developing countries will promote extensive international cooperation and drive collective efforts to address issues such as imbalanced development and climate change.

By Lyu Shaogang, People’s Daily

On his way home from work in Shenzhen, south China’s Guangdong province, Mr. Yin, a new energy vehicle (NEV) owner, made a stop at a supercharging station located two kilometers away from his workplace.

After plugging in and scanning a quick response (QR) code with his mobile phone, Yin saw the battery level of his car rising quickly. In no time, his car was fully charged.

“I recharge my vehicle once every two weeks for a quick 20-minute charge at a supercharging station. With a range of nearly 500 kilometers, it’s enough for my daily commute and weekend trips,” Yin explained.

Yin’s car has a battery capacity of 100 kilowatt-hours. According to him, it takes only a little over an hour for his car to be fully charged with a fast charger of around 80 kilowatts, while it would take a whole night in the case of a slow charger of 7 kilowatts.

“Supercharging really saves me a lot of time,” he said.

Charging piles can be divided into three categories according to their charging speeds: slow chargers, fast chargers, and superchargers. Slow charging piles primarily use alternating current (AC) charging, whereas fast charging and supercharging piles are based on high-voltage direct current (DC) charging technology, which can transmit larger amounts of power with lower energy losses compared with AC transmission.

The supercharging devices in Shenzhen all have a rated power of no less than 480 kilowatts, which can charge NEVs at a speed of up to one kilometer per second.

As of October 18, Shenzhen had built 671 supercharging stations for NEVs, with the number of supercharging stations and charging guns exceeding that of gas stations and fuel nozzles.

In September 2023, the city rolled out an action plan to construct high-quality NEV supercharging and battery swapping facilities from 2023 to 2025, aiming to build a world-class “city of supercharging.” The plan has ushered in the rapid deployment of supercharging stations across the city.

With electric vehicles massively adopted in urban buses and taxi fleets, Shenzhen’s NEV ownership has exceeded 1.16 million, accounting for over 25 percent of its total ownership of motor vehicles, which means for every 100 vehicles sold in the city, 75 are NEVs.

The ever-growing number of “high-output” charging facilities and “large-capacity” batteries in the city is helping to relieve the range anxiety among NEV owners.

To lower the charging time, it needs to improve the batteries’ chemical system, structural design, and application strategies, according to He Xuan, an executive with Sunwoda EVB Co., Ltd., a power battery manufacturer based in Shenzhen.

In 2019, the company began to develop supercharging technology in line with market and user demands. So far, it has collaborated with many Chinese automakers such as XPeng, Geely, and Li Auto. Its flash charging battery is now in mass production, enabling an 80 percent recharge in just 10 minutes, He noted.

Industry insiders pointed out that supercharging technology is still in its early stages, and most of the vehicle models available on the market continue to rely on slow or fast charging options.

While acknowledging that it may take some time for the market to fully embrace this technology, they believe that supercharging represents the future direction of the industry’s development.

Since 2023, Shenzhen has seen an intensive release of high-end supercharging car models, with the number exceeding 40 by June 2023 and 140 by May 2024, according to an official with Shenzhen’s development and reform commission.

Analysts of the industry predicted that more than 13 million high-voltage fast charging NEVs will be seen in the Chinese market by the end of 2026.

“Can I charge my car at a supercharging station if it does not allow supercharging?” Many car owners have raised this question.

Sources say that Shenzhen’s supercharging stations have combined supercharging and fast charging technologies. The supercharging piles, which are compatible with a range of vehicle models, can automatically adjust the single-gun output power based on the vehicle’s power.

Apart from building charging piles and stations, the “city of supercharging” is striving to develop a unified and open market system, which encourages orderly competition and a concentrated layout of charging facilities.

A range of measures have been taken in the city, such as expanding the charging facilities’ application scenarios, elaborating construction plans, setting standards, and promoting technological innovation, so as to build a sound industrial ecosystem.

With the continuous efforts to build easily accessible and user-friendly supercharging facilities, “making charging as convenient as refueling” has gradually become a reality in Shenzhen.

More and more local citizens are benefiting from the industrial ecosystem. For instance, Mr. Xiong, a ride-hailing driver, can now easily locate charging stations, find his way, and charge with just one click on the “i Shenzhen” app on his phone.

“I can easily find out where the nearest charging station is, the price, distance, the availability of charging piles, and whether there are available spots,” Xiong said.

The convenience is attributed to Shenzhen’s integrated power storage and charging network built on a unified spatiotemporal information platform with city-wide coverage, full automation, and fine modeling.

The city has incorporated the previously scattered power storage and charging resources, such as charging piles, energy storage stations, and photovoltaic power stations, into the network through digital twin technology in a fully controllable manner. It has built a large-scale resource pool, achieving science-based, intelligent, and targeted management of these resources.

As one of the earliest cities in China to develop the new energy industry, Shenzhen has established a robust and complete industrial chain, with 24,000 new energy and digital energy companies closely interconnected. Chargers produced in Shenzhen account for more than 50 percent of China’s national market while charging modules, a core component of charging piles, manufactured in the city surpass 70 percent market share.

With a focus on key areas such as expressway services areas, transportation hubs, parks, shopping malls and supermarkets, Shenzhen is creating a supercharging network featuring a sound balance between supply and demand, advanced facilities, and leading technologies.

It aims to build 1,000 supercharging stations by the end of this year, and form a “600-meter charging service circle” for NEV owners.

By He Yin, People’s Daily

The substantial conclusion of the Version 3.0 China-ASEAN Free Trade Area (FTA) upgrade negotiations was recently announced.

This signified a further deepening of economic and trade cooperation between China and ASEAN, representing a significant step of the two sides in leading the economic integration in East Asia, and sending a positive signal of the two sides jointly upholding the free trade system.

The deepening of economic and trade cooperation between China and ASEAN will inject new impetus into the building of a closer China-ASEAN community with a shared future.

The China-ASEAN FTA 3.0 takes into account modern trade practices. It has achieved groundbreaking outcomes and will bring new opportunities to all parties involved.

This upgraded version covers nine areas, encompassing existing fields under the China-ASEAN Free Trade Agreement as well as emerging areas with significant cooperation potential.

The China-ASEAN FTA 3.0 for the first time included chapters on connectivity in digital economy, green economy and supply chains with the highest standards of all their respective economic and trade treaties.

These outcomes will comprehensively expand the mutually beneficial cooperation between China and ASEAN in emerging areas, further match the two sides’ standards and rules, bring the two sides together to build a safe, stable, unimpeded and effective supply chain cooperation network, and bring the mutually beneficial cooperation between the two sides to a new level.

The upgraded FTA cooperation will bring stronger and more sustainable development momentum for both sides – two major markets with over 1.4 billion and 600 million people, respectively.

Thanks to the China-ASEAN FTA, China has maintained ASEAN’s largest trading partner for 15 consecutive years, while ASEAN has been China’s largest trading partner for 4 consecutive years.

Currently, the issue of global insufficient demand is becoming more prominent, making markets a scarce resource in economic development. With nearly a quarter of the world’s population, the super large market is the biggest support for both sides to promote economic prosperity.

The upgraded version of the China-ASEAN FTA will promote a closer and more organic integration and connectivity between the two major markets of China and ASEAN, which will undoubtedly generate more significant economies of scale, industrial agglomeration effects, and development spillover effects.

ASEAN Secretary-General Kao Kim Hourn said that through the upgrade of the FTA, trade, investment and tourism of the two sides will further grow, bringing positive and significant development and transformation to economic cooperation between ASEAN and China.

The substantial conclusion of the Version 3.0 China-ASEAN FTA upgrade negotiations demonstrated the two sides’ firm commitment to multilateralism and free trade. China and ASEAN are working together to uphold the free trade system, enhance connectivity in production and supply chains, foster new drivers of high-quality development, advance regional economic integration, and continue to serve as a vital engine of global economic growth and a beacon of solidarity and cooperation.

United Nations secretary-general Antonio Guterres praised the China-ASEAN FTA 3.0, stating that this upgrade will promote global free trade and economic growth.

Singaporean Prime Minister Lawrence Wong views the upgraded FTA as a significant step, especially in an era where protectionism is on the rise around the globe. He said this move sent a clear and important signal to the world that free trade and mutually beneficial market cooperation are crucial.

Continuously expanding high-level opening up is necessary to promote Chinese modernization. Building a globally-oriented network of high-standard free trade areas is a crucial step in establishing a new system for higher-level open economy.

China attaches great importance to the Version 3.0 China-ASEAN FTA upgrade negotiations, actively proposing draft texts on emerging areas such as connectivity in digital economy, green economy and supply chains, which has played a positive and constructive role in reaching consensus in the negotiations.

In the future, China will steadfastly promote high-level opening up, build a high-level, institutionalized agenda of opening up, promote connectivity in the Asia-Pacific region, maintain stable and smooth regional industrial and supply chains, and inject momentum into the economic recovery and sustainable development of the Asia-Pacific region.

Open cooperation is the trend of history, and mutual benefit and win-win cooperation are the aspiration of the people. China is willing to work together with ASEAN to continuously promote practical cooperation in various fields, so as to provide more solid support for the common prosperity of the region and the world.

By He Yin, People’s Daily

China’s gross domestic product (GDP) grew 4.8 percent year on year in the first three quarters of 2024, according to data recently released by the National Bureau of Statistics (NBS).

This growth, ranking among the top performers among major global economies, has laid a solid foundation for China to achieve its annual economic target.

This year, the Chinese economy has registered steady growth on the whole, with stable progress made in the development of new quality productive forces and solid advancement of high-quality development. Major economic indicators showed improvements recently. The resilience of the Chinese economy has significantly boosted the confidence of the international market.

In the face of a complex and challenging environment both at home and abroad, the Chinese economy is showing signs of steady progress, injecting certainty and positive energy into the global economic development.

The Chinese government has adopted a series of policies and measures. In particular, a raft of incremental policies launched by some departments are gradually taking effect. Positive factors for the recovery and growth of the Chinese economy are accumulating.

International financial organizations recently raised their forecast for China’s economic growth this year, including Goldman Sachs and UBS. The international community is optimistic about China’s economic prospects, believing the country is able to achieve its target of a GDP growth around five percent.

Singaporean Senior Minister Lee Hsien Loong holds that the measures issued by the Chinese government are conducive to lifting confidence and demand, and many Chinese industries have reached world-class standards. It’s very unwise to underestimate China, he added.

The economic performance of China in the first three quarters of this year showed that the country has optimized economic structure and improved the quality of its economy while maintaining steady economic growth.

In the first nine months of 2024, the value added of China’s high-tech manufacturing enterprises above the designated size, or those with annual main business revenue of at least 20 million yuan ($2.81 million), grew by 9.1 percent, and the investment in the high-tech sector was up 10 percent from a year ago.

Production and consumption in wind, nuclear and solar power sectors maintained rapid growth, accelerating the industrial transition toward new energy and green development.

The Chinese manufacturing sector is gaining wider support thanks to its advantages in innovation in high-end, intelligent and green development.

In the first three quarters, China’s export of high-end equipment increased 43.4 percent year on year, and those of integrated circuits, automobiles and home appliances grew by 22 percent, 22.5 percent and 15.5 percent from a year ago, respectively.

The country’s new energy industry is highly in line with the global trend of green development, with the exports of wind turbines and electric vehicles surging 73.9 percent and 22 percent, respectively.

Executive Director of the International Energy Agency Fatih Birol recently once again praised the important contributions made by China to the global energy transition, saying that almost every energy story is essentially a China story.

The steady growth of the Chinese economy is good news to the world economy. Currently, the world economic recovery remains shaky. According to the latest report issued by the International Monetary Fund, global growth is lower than the average in the first two decades of the 21st century.

Faced with the rise of unilateralism and protectionism, China steadfastly stands with solidarity, cooperation, openness and win-win cooperation. The country has made stable progress in advancing high-level opening up, burnishing its gold-lettered signboard of benefiting the world. It has constantly promoted high-quality Belt and Road cooperation, and actively built better international cooperation platforms such as the China International Import Expo, China International Fair for Trade in Services and China International Consumer Products Expo, to welcome the entries of more quality products into the Chinese market.

In the first three quarters, China saw a record high in its total imports and exports of goods, which for the first time exceeded 32 trillion yuan. It keeps making China an important engine driving the growth of global trade.

The imports of featured fruits, wine and clothing improved by 7.1 percent, 28.9 percent and 6.1 percent, respectively, which effectively met the diverse consumption demand at home.

As China continues releasing the potential of its domestic demand, the huge Chinese market will bring huge opportunities to the world.

China is pushing for in-depth reform and high-quality development by promoting high-standard opening up, broadening the development space for Chinese modernization.

The fundamentals of China’s economic development remain unchanged, and the country’s favorable conditions such as the huge market potential and strong economic resilience remain unchanged.

As policies take effect, China is confident in and capable of achieving long-term stable development, and will keep bringing new impetus and opportunities to the world with its new development.