Accurate carbon accounting gives leg up to green transition

By Ji Juesu, People’s Daily

In a plant of Shanghai Baosteel Packaging Co., Ltd. (Baosteel Packaging), machines were working on a beverage can production line, and the carbon consumption of each manufacturing process was shown in real time on a software on the computer of engineer Wang Zhiyou in an office building 15 kilometers away.

According to Wang, the software JIMU LCA Cloud, developed by Shanghai E-C Digital Technology Co., Ltd. (E-C Digital), can also automatically generate carbon footprint reports of products.

“Carbon accounting was both time- and energy-consuming, and the data were not very precise either. This software is easy to use, convenient and efficient,” Wang said.

E-C Digital is an internet company that focuses on cloud computing for quantifying carbon emissions of industrial manufacturers. Though it has a history of only seven years and its products were sold for only less than three years, the company has already helped many enterprises accurately calculate their carbon emissions.

As green and low-carbon development has become a global consensus, different countries and regions, as well as different industry associations, have put forward their own paths to reduce carbon emissions.

Since China set its “dual carbon” goals – reaching the peak of carbon emissions by 2030 and attainingcarbon neutrality by 2060 in September 2020, the demand for carbon reduction among Chinese enterprises has grown rapidly in recent years.

The precise quantification of carbon data is a foundational work for enterprises in advancing their green transformation, but its operation is not easy.

To make carbon accounting as simple as “building blocks,” E-C Digital went deep into industrial operations, transforming the smallest units, such as equipment units and manufacturing processes into individual “blocks,” each of which contains all the relevant data for that process, as well as the logical relationships between the data and between the “blocks.” This has truly lowered users’ access to precise quantification of carbon data.

In terms of corporate carbon accounting, E-C Digital developed the “JIMU Carbon Cloud” software, which includes built-in carbon accounting methods and models for 24 industries published by China. For product carbon accounting, the company launched the “JIMU LCA Cloud,” which supports the development of multiple national-level, industrial-level carbon data management platforms, and those of leading enterprises. The software interface and operations are simple and clear, which means primary-level engineers can become proficient in using the software.

For years, the can-making business unit of Baosteel Packaging had been hesitant about whether to upgrade the water-ring vacuum pumps on their production lines to screw vacuum pumps. Upgrading the equipment would require significant investment, but the water-ring vacuum pumps had high energy consumption and failure rates.

After introducing E-C Digital’s software, the company obtained precise data of energy reduction: screw vacuum pumps could save 1,300 kilowatt-hours of electricity per day, and the electricity cost savings would cover the purchase of the new equipment in about a year and a half. With such data support, Baosteel Packaging’s equipment upgrade began accelerating in 2022.

Anji, east China’s Zhejiang province, is the largest producer of office chairs in China. It is home to a number of small- and medium-sized manufacturing enterprises. However, establishing a dedicated team of carbon accounting engineers is unaffordable for most of them, and purchasing third-party consulting services is generally expensive and time-consuming in terms of report delivery.

Since 2023, office chairs produced in Anji have come with a “carbon label” that showcases the carbon footprint of products’ entire lifecycle, which are enabled by E-C Digital.

These carbon labels are developed by E-C Digital in collaboration with the Institute of Service-oriented Manufacturing under the Ministry of Industry and Information Technology. They aim at helping furniture-related small- and medium-sized enterprises in Anji carry out low-cost, efficient, and standardized carbon accounting, and deliver carbon footprint reports complying with relevant standards.

“Reliable carbon footprint reports make our products more competitive,” said the head of a furniture company in Anji.

After seven years of development, E-C Digital has grown from a five-person startup team into a high-tech company with over 100 employees. Its business scope has expanded from steel and power to over 30 industries including non-ferrous metals, chemicals, petrochemicals, batteries, and new energy. It provides precise carbon data quantification and overall “dual carbon” solutions to over 1,000 clients through a cloud computing model.

“China has a solid industrial foundation and a massive global trade supply chain system, providing extremely broad application scenarios for carbon quantification software. This is our advantage,” said Zhou Jing, chairman of board of E-C Digital.

E-C Digital has become the first non-European Union (EU) provider of carbon quantification tools recognized by the EU’s environmental impact assessment mutual recognition platform.

It is reported that multiple international manufacturing clients have contacted E-C Digital, hoping it can help them address carbon footprint information disclosure requirements for the EU market. “Our professionalism has gained international recognition,” said Zhou.

To view, develop China-Germany bilateral relations from long-term, strategic perspective

By He Yin, People’s Daily

On the morning of April 16, Chinese President Xi Jinping met with German Chancellor Olaf Scholz in Beijing. This is Scholz’s second visit to China since he took office, and Scholz is the first leader of a major Western country to visit China this year. The two leaders exchanged views on bilateral relations and international and regional issues of mutual interest.

Xi called on the two countries need to view and develop bilateral relations from a long-term and strategic perspective, and work together to inject greater stability and certainty into the world. His remarks have charted the course for the two countries to further advance bilateral relations and to jointly contribute more to world peace and prosperity under new circumstances.

Over the past 50-plus years since the establishment of diplomatic ties, China and Germany have enjoyed robust bilateral relations. The two countries have had close exchanges at all levels and in all fields.

China’s policy toward Germany is highly stable and consistent. China always views Germany as its important partner of mutually beneficial cooperation and supports Germany in playing a more important role in Europe and the wider world.

The two sides successfully held the intergovernmental consultation and high-level dialogues on strategic and financial issues, and will hold a dialogue on climate change and green transition. As long as the two sides uphold mutual respect, seek common ground while reserving differences, enhance exchanges and mutual learning, and pursue win-win cooperation, China-Germany relations will continue to enjoy solid and sustained progress.

This year marks the 10th anniversary of the establishment of the all-round strategic partnership between China and Germany. Over the past 10 years, despite tremendous changes in the international landscape, China-Germany relations have maintained steady growth, and bilateral cooperation has strengthened and deepened across the board, providing impetus for the development of both countries.

Both history and reality have proved that the all-round strategic partnership is an inevitable choice and the optimal solution for China-Germany relations.

The more instability in the world, the greater the need for the two sides to strengthen the resilience and vitality of their relations,Xi said, calling for joint efforts to keep to the overall direction of cooperation and development in growing bilateral ties, and stick to the characterization of all-round strategic partnership.

Scholz said that going forward, the German side will work with the Chinese side to strengthen bilateral ties, deepen dialogue and cooperation in all fields, and promote people-to-people exchanges in such areas as education and culture.

Enhancing mutual understanding and trust, and strengthening dialogue and communication will contribute to the healthy and stable development of the all-round strategic partnership between the two countries.

Both China and Germany have deeply engaged in and benefited from each other’s development, with pragmatic cooperation always being the defining feature of China-Germany relations.

China and Germany are important trading partners for each other. Germany has been China’s largest trading partner in Europe for 49 consecutive years, while China has been Germany’s largest trading partner for eight consecutive years.

According to a report by German Economic Institute (IW), in 2023, German direct investment in China increased by 4.3 percent year on year to a record high of 11.9 billion euros ($12.7 billion).

In the face of weak global economic recovery and rising protectionism, German investment in China has remained strong. Thousands of German companies and institutions are actively engaged in the Chinese market, which once again demonstrates that mutually beneficial cooperation between China and Germany is not a “risk,” but the guarantee for a stable bilateral relationship and an opportunity for the future.

There is huge potential to be tapped for pursuing win-win cooperation in both traditional sectors such as machinery and automobile, and new areas such as green transition, digitization and artificial intelligence.

This time, Scholz visited Chongqing and Shanghai together with representatives of the German business community, and witnessed the great economic progress China made over recent years. He said that Germany opposes protectionism and supports free trade.

It is important for the two countries to adopt an objective and dialectical view on the issue of production capacity through a market and global perspective and based on the laws of economics, and devote more efforts to the discussion on cooperation, which will bring bilateral economic and trade cooperation to a new level and inject continuous impetus into global economic recovery.

As China and Germany are respectively the second and third largest economies in the world, the consolidation and development of their relations carries significance that goes beyond the bilateral scope, and has a major impact on the Eurasian continent and the entire world.

China and Germany share a lot in common on the issue of world multipolarity. Both of them support globalization and international cooperation.

Xi pointed out that a multipolar world is, in essence, one where countries with different civilizations, systems and paths respect each other and coexist in peace. China and Germany need to independently carry out collaboration on multilateral fronts, push the international community to take real actions to better address global challenges such as climate change, unbalanced development and regional conflicts, and make greater contribution to the balance and stability of the world.

Xi and Scholz reached consensus on the Ukraine crisis, Palestinian-Israeli conflict and other issues, which will inject greater stability and certainty into a turbulent and intertwined world.

China and Germany do not have clashing fundamental interests between them and pose no security threat to each other. Cooperation between the two countries benefits not just the two sides but also the world at large.

Both sides should cherish and inherit the valuable experience of the development of bilateral relations, constantly enhance mutual understanding and trust, and deepen practical cooperation, so as to inject new impetus into the all-round strategic partnership between China and Germany, and make greater contributions to world peace, stability, and growth.

Japan should not be a disrupter of a stable Asia-Pacific

By Zhong Sheng, People’s Daily

Japanese Prime Minister Fumio Kishida recently made provocative remarks on the Taiwan question, maritime issues, and regional security during his visit to the United States.

His blatant interference in China’s internal affairs and collusion with relevant countries to incite confrontation in the Asia-Pacific region seriously violated the basic norms in international relations. Such Cold War mentality and small group politics severely undermine the strategic security and interests of regional countries.

If the Japanese side keeps to its conspiracy and wrong perception of China, and acts recklessly, China will resolutely make necessary responses.

When discussing the situation in the Taiwan Strait, the United States and Japan expressed “strong opposition to any attempts to unilaterally change the status quo by force or coercion,” which is a blatant interference in China’s internal affairs.

It is a historical fact and an international consensus that there is only one China. The real status quo of the Taiwan question is: there is but one China in the world and Taiwan is part of China. The biggest threat to cross-Strait peace now is the separatist activities of “Taiwan independence” and the interference of external forces. It is for the purpose of safeguarding cross-Strait peace and stability that China resolutely curbs against separatist activities and interference from external forces.

Both the United States and Japanese governments have made serious commitments to China on the Taiwan question. In particular, Japan bears serious historical responsibilities for its aggression against Taiwan and colonial rule over the island, and should all the more honor its words and act prudently.

China’s activities in the East China Sea and South China Sea are in full compliance with international law and there’s nothing wrong about them. Diaoyu Dao and its affiliated islands are China’s inherent territory. China will take firm measures against illegal moves that violate its sovereignty.

China has indisputable sovereignty over Nanhai Zhudao and its adjacent waters. China stands ready to continue to properly handle maritime issues with parties concerned through dialogue and consultation and jointly uphold peace and stability in the South China Sea. In the meantime, no one should violate China’s territorial sovereignty and maritime rights and interests, and China remains steadfast in safeguarding its lawful rights.

A few countries including the United States and Japan wish nothing but chaos in the South China Sea. They blatantly support and back the Philippines’ provocations and violation of China’s sovereignty, stirring up troubles in the South China Sea, which causes serious threat to regional peace and stability.

Neither the United States nor Japan is directly involved in the South China Sea issue. They should respect the efforts made by regional countries in developing norms through negotiations and upholding peace and stability in the South China Sea. They should stop stirring up trouble and confrontation in the South China Sea.

The Japanese side claimed that China’s current external stance and military actions present an “unprecedented and the greatest strategic challenge,” not only to the peace and security of Japan but to the peace and stability of the international community at large.

Such remarks utterly twist the truth. China has never been a threat to Japan in their relations over the past 2,000 years. On the contrary, Japan’s militarist past, marked by devastating wars of aggression against China and other Asian countries and brutal crimes against humanity, brought untold suffering on this region and beyond. Instead of drawing serious lessons from its past,  Japan has displayed a dangerous tendency of rearming itself, stepping into a new wrong path, adding to the growing danger of history repeating itself.

Japan is exaggerating the security threats in its surrounding areas, with the ultimate goal of finding excuses to lift its military restrictions.

In recent years, the country has significantly readjusted its defense policy, continuously increased its annual defense spending, and loosened its arms exports restrictions, breaking free from the constraint of its pacifist Constitution. It doesn’t care about exposing its military ambition, and has triggered concerns of its Asian neighbors and the international community.

The Japanese government is actively seeking to collude with NATO to interfere in Asia-Pacific affairs, aiming to create tension and confrontation by participating in defense cooperation with the trilateral security partnership among the United States, Britain and Australia, and other exclusive alliances. This attempt to pursue Japan’s own strategic interests poses a hidden threat to regional security.

On one hand, the Japanese side claims to comprehensively promote the China-Japan strategic and mutually beneficial relations; on the other hand, it is increasingly hyping the so-called “China threat,” trying to provoke confrontation. This is typical duplicity and has no credit at all.

Who is truly seeking peace, development and cooperation and who is fanning the flames, forming cliques and creating tensions? The answer is clear. China always works to defend world peace, contribute to global development, and safeguard international order.

China pursues the path of peaceful development and a defensive national defense policy. It has never started a war or posed a threat to any country.

Through the farce jointly staged by the United States and Japan to interfere in China’s domestic affairs, contain China’s development and smear China’s image, the international community once again sees clearly that forming cliques and inciting bloc confrontation is the true challenge to regional peace and stability.

The Asia-Pacific region is a promising land for peace and development. It should not be turned into a boxing ring for major power rivalry, still less a battlefield of a cold war or hot war.

The peace and stability as well as economic development in the Asia-Pacific region are the trend of the times and the will of the people. Japan should not become a disrupter of a stable Asia-Pacific and stop finding excuses for loosening military restrictions by fanning up surrounding military threats, in order to avoid further loss of trust from neighboring Asian countries and the international community.

(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy and international affairs.)

Global exhibitors share open opportunities at fourthChina International Consumer Products Expo

By Cui Qi, Dai Kairan, Yang Xiaoyu, Deng Jianyang, People’s Daily

The 4th China International Consumer Products Expo (CICPE) was held in Haikou, south China’s Hainan province from April 13 to 18. More than 4,000 brands from 71 countries and regions came together, demonstrating the vibrant energy and appeal of the Chinese consumer market.

Foreign guests and exhibitors told People’s Daily that the CICPE provides a platform for global institutions and companies to explore the Chinese market, demonstrating China’s commitment to high-level opening-up. They believe that the vast Chinese market is bringing tremendous opportunities to the world as the country opens its door even wider.

Over the past four years, the scale, quality and influence of the CICPE, the largest consumer products exhibition in the entire Asia-Pacific region, have been continuously improved. With an indoor exhibition area of 128,000 square meters, this year’s CICPE was joined by 57 Fortune Global 500 companies and industry-leading companies, attracting more than 55,000 buyers and professional visitors.

With the theme of “60th anniversary of diplomatic relations between China and France,” the French Pavilion offered visitors an immersive Parisian shopping experience.

Sylvain Fourrière, consul general of France in Guangzhou, said French companies had participated in the expo since the maiden event, showcasing the friendly exchanges between the two countries.

He noted that French companies have performed well in the Chinese market, thanks to China’s efforts to promote high-quality development and high-level opening-up. France and China will achieve common progress in the times ahead.

“This is our first time to a Chinese expo, and we are delighted to be here. It’s very helpful that we are able to stay here for a few days in which people would come to us and be interested in our products,” said Luke McAllister, brand ambassador of an Irish whiskey company.

The CICPE provides an important platform for global companies to enter the Chinese market, McAllister said, adding that his company had been approached by numerous importers for potential partnerships, and they are eager to introduce their products to the vast Chinese market via the expo.

Consumption is a main driver for economic growth. According to the data released by China’s National Bureau of Statistics, in the first quarter of 2024, the total retail sales of consumer goods in China exceeded 12 trillion yuan ($1.66 trillion), with per capita expenditure on services consumption increasing by 12.7 percent year on year. Consumption contributed 73.7 percent to China’s economic growth, playing a crucial supportive role.

More than 300 themed activities and featured activities such as new product releases were held at the 4th CICPE. A total of 38 brands launched 115 new products, covering a wide range of categories such as perfumes and cosmetics, high-end foods, electronic products, and biotech products. The debut of new products and technologies showcases China’s continuously upgrading consumption pattern, making the huge Chinese market highly attractive to foreign companies.

“China has a very large market and a growing middle-class group. The market will offer growth potential for our company and for other investors,” said Rainer Kern, a representative of German company Kärcher, the world’s leading provider of cleaning technology.

Kern said that Kärcher has expanded its brand influence through the China International Import Expo, the CICPE, and other international exhibitions held by China. Multiple exhibits that were unveiled for the first time at these exhibitions had proven to be highly popular, demonstrating the enormous opportunities in the Chinese market.

“With the continuous improvement of China’s business environment, Kärcher remains absolutely confident in the Chinese market,” Kern added.

German carmaker Volkswagen debuted its comprehensive charging solutions at this year’s CICPE. “By participating in the expo, Volkswagen hopes to boost its engagement with Chinese consumers and strengthen its presence in the Chinese market,” said Zhang Lan, vice president of sales of Volkswagen Group (China).

Volkswagen recently announced to expand its innovation hub in Hefei, east China’s Anhui province, to bolster its R&D capabilities in China and accelerate the electrification, digitalization, and intelligentization of the automotive industry.

The 4th CICPE displayed over 100 geographical indication (GI) products from China and the European Union such as French Champagne and Spanish olive oil, allowing visitors to taste high-quality products with different flavors and diverse culinary cultures.

“We hope to promote Spanish products in the Chinese market through the expo,” said Jamie Lorenzo, chief economic and commercial counselor of Spanish Consulate in Guangzhou.

“China continues to steadily expand institutional opening-up and advance high-level opening-up, which will foster a market-oriented and world-class business environment governed by a sound legal framework. These steps demonstrate China’s commitment to the open world economy and win-win cooperation, said Chen Kai with Ernst & Young. He believes that foreign-invested enterprises in China will continue to maintain high-quality development this year.

Solid progress achieved in China-ASEAN agricultural cooperation

By Yang Yi, People’s Daily

Agriculture is a key area of cooperation between China and ASEAN. To date, China and ASEAN have signed over 40 bilateral documents on agricultural cooperation and established eight bilateral agricultural cooperation mechanisms. ASEAN is China’s largest agricultural trade partner and one of the most important destinations for agricultural investment.

The continuously deepening agricultural cooperation between the two sides will benefit the people of all countries involved.

In recent years, an increasing number of agricultural products including durian, banana, longan, and sugarcane from ASEAN countries such as Thailand, Laos, and Cambodia, have made their way to Chinese consumers through the China-Laos Railway and the New International Land-Sea Trade Corridor.

ASEAN countries will benefit from the tariff preferences, streamlined customs procedures, and facilitation of trade and investment brought about by the implementation of the Regional Comprehensive Economic Partnership (RCEP), which will promote long-term growth in their exports, said Cambodian Ministry of Commerce’s Undersecretary of State and Spokesman Penn Sovicheat.

According to statistics released by China’s Ministry of Agriculture and Rural Affairs, three ASEAN countries, namely Thailand, Indonesia, and Vietnam, were among the top 10 agricultural trade partners of China in 2023.

Last year, the total trade volume of agricultural products between Thailand and China reached $17.888 billion, with a total quantity of over 14.71 million tons.

A Thai media outlet said that thanks to the implementation of RCEP and the opening of the China-Laos Railway, fresh Thai fruits can reach China in just a few days, which makes them highly popular among Chinese consumers.

At a China–Laos crop excellent varietiesexperimental station in Vientiane, the capital of Laos, Chinese experts were guiding local villagers in Xaythany district to grow vegetables in a science-based manner.

Lyu Feng, Chinese technician of the experimental station and a lecturer with Guangxi Vocational University of Agriculture, told People’s Daily that the experimental station has tested over 300 crop varieties since 2013, and selected 67 excellent ones suitable for local cultivation.

Chinese experts have also organized multiple training sessions for local agricultural technicians, farmers, and students and faculties of universities.

In recent years, China has closely collaborated with ASEAN countries, establishing five agricultural experimental stations in Laos, Vietnam, Cambodia, Indonesia, and Myanmar.

These stations help improve cultivation efficiency of greenhouse vegetables with soilless cultivation and fertigation techniques. They have established demonstration bases to boost rice yield in green manners, introducing new techniques in seedling breeding, cultivation, water and fertilizer management, and green pest control. The stations also use unmanned aerial vehicles to sow seeds and promote intelligent transplanting and harvesting.

Together, they had elected and tested over 750 new and superior varieties of vegetables and rice, which were later grown on 4 million mu (266,667 hectares) of land, and trained more than 1,000 agricultural technicians.

Chinese agricultural experts have worked hand in hand with local farmers and agricultural technicians in ASEAN countries, contributing to the green and digital transformation of agriculture.

The ASEAN-China Joint Statement on Deepening Agricultural Cooperation, released in 2023, stressed the importance of promoting sustainable, resilient, circular and low-carbon agriculture.

According to the document, the two sides will scale up sustainable and resilient agriculture and low-carbon farming, reduce agrochemical use and recycle agricultural waste, where applicable.

They will promote the trade of such agricultural products, and establish traceability systems for them where possible, so as to enhance the competitiveness of green, quality and distinctive products of the region.

Satvinder Singh, ASEAN deputy secretary-general, said that the deepening agricultural cooperation between ASEAN countries and China, along with the joint promotion of smart agriculture projects, has enhanced the competitiveness of agricultural products from both sides.

Malaysia’s Agriculture and Food Security Minister Mohamad Sabu noted that China has valuable experiences in promoting agricultural production and technological advancements.

The expanding agricultural trade and deepening agricultural technology cooperation between China and ASEAN countries, including Malaysia, will bring about more development opportunities for ASEAN nations, the minister added.

Chinese Ambassador to ASEAN Hou Yanqi noted that China is ready to work together with ASEAN countries to promote greater synergy between the China-ASEAN Action Plan on Green Agricultural Development (2023-2027) and the ASEAN Sustainable AgricultureGuidelines, deepen cooperation in digital agriculture, smart agriculture, etc., collaborate on green agricultural research and innovation, in order to enhance the green, circular and sustainable development of agriculture in the region.

Chinese coy provides pipe borne water for Nasarawa community

Residents of Angwan Mayo in Kokona Local Government Area, LGA, of Nasarawa State can now heave a sigh of relief as the perennial water problem that has bedeviled the area for a long time has been brought to an end, courtesy of China Harbour Engineering Company, CHEC.

The Chinese company, which handled the dualisation and expansion of the Abuja, Keffi, Akwanga, Lafia, Makudi road project said the donation was part of its corporate social responsibility efforts.
Speaking with journalist in Abuja, the project manager China Habour, Mr Wang Jijun said the company has been in Nigeria for more than 30 years and is committed to giving back to society.

“We provide value that benefit local people while actively participating in corporate social responsibility activities. Apart from donating water wells we have also donated cultural, sports and teaching supplies to local schools, sponsored the Nigeria National Youth Basketball League, repaired local school classrooms among others”. He noted that CHEC would continue to support local communities.

Also speaking with journalists the community leader of Angwa Mayo, Mai Angwa Agabi Tsona said that the water well has been a blessing as it helps the people in carrying out their domestic chores such as cooking, washing , bathing and doing other sundry works.

He said that the Mayo community has transited from a typical village bereft of any form of social amenity to a community where residents can actually enjoy clean water, and basic necessities of life.

Tsona said,” “Thanks to the intervention of the China Harbour Engineering Company social responsibility spirit by providing us clean and potable water our community has changed”, he stated.

The Community leader said that the provision of the water project to the community is a blessing to the people as accessing clean water for domestic use is now easy.

“With the flow of clean water, life has been easy because our wives, children, and men now have access to water, unlike when we used to go in search of water from surrounding dirty streams. We thank the China Harbour Engineering Company for this kind gesture towards the people of Angwan Mayo Agbabi.”

Another indigene in the community, Emmanuel Awuga Agabi, said, ” “Before the provision of the borehole we used to trek long distance to the river to fetch water but we thank God that China Harbour brought water to our doorstep and we are benefiting from the clean water in our community.”

“We use the clean water we fetch from the borehole to bath, wash our clothes, drink and cook, and also have enough water to mould blocks to build our houses.”

” We thank China Harbour for giving use access to clean water and for making things easy for us. It is no more difficult as before”, he noted.

Panic Rush: Investors Allegedly Liquidate Shares In Wema Bank

Following the constant negative reports on Wema Bank finances and activities under the leadership of Moruf Oseni, Investors in the capital market are allegedly selling off their shares to exit their investment in the financial institution, according to BusinessPost.

In the past few days, the mid-level financial institution has been in the news over the fines slammed on it by different regulators over operational breaches.

It was also picked from the recently released audited financial statements for 2023 that the lender, led by Mr Moruf Oseni, recorded about N1.13 billion frauds in the fiscal year.

These reports, coupled with the stir caused by the recent recapitalisation policy of the Central Bank of Nigeria (CBN), have given investors a second thought about keeping Wema Bank shares in their portfolios

Generally, banking equities have been witnessing panic selling on the floor of the Nigerian Exchange (NGX) Limited as a result of the tighter policies of the apex bank.

In the past weeks, the central bank has come up with policies aimed at strengthening the banking industry in Nigeria, including announcing new minimum capital requirements for financial institutions to as high as N500 billion, to raising their cash reserve ratio (CRR), to prohibiting them to hold foreign exchange (FX) for long and others.

These policies have made investors rethink their exposure to equities in the sector at the stock market.

Business Post observed that in the last five trading sessions, Wema Bank equities have taken a downward trend at Customs Street after closing flat at N8.50 on Thursday, April 4, 2024.

The next day, its value went down by 3.53 per cent to N8.20, and on Monday, April 8, it fell by 0.61 per cent to N8.15.

The market was shut down on Tuesday, Wednesday, and Thursday due to the public holiday observed to Eid el-Fitr, and at the resumption of trading activities last Friday, the bank weakened by 3.07 per cent to N7.90, and yesterday, it further declined by 4.43 per cent to N7.55.

NORTH CENTRAL PDP STAKEHOLDERS CALL FOR RETENTION OF THE PARTY’S NATIONAL CHAIRMANSHIP IN BENUE STATE

Ahead of the upcoming PDP National Executive Council (NEC) meeting a group of members of the Party under the aegis of North Central PDP stakeholders have called for the retention of the National Chairmanship position of the Party in the North Central Part of the Country and Benue State in particular where the suspended National Chairman Dr. Iorchia Ayu comes from.
This call was delivered on behalf of the group by Senator Orker Jev at a town hall meeting in Abuja on Monday.
Senator Orker Jev who was guest speaker at the Occasion said based on the provisions of the constitution of the PDP it was necessary for north central where the position subsists to produce the next Chairman to replace Dr. Ayu.
Speaking earlier the Convener of the Town hall meeting Dr. Paul Ubwa said the concerned PDP members were loyal party men and women who are simply insisting that the right thing be done.
Former minister for Sports, Damishi Sango from Plateau State & former Minister of State foreign Affairs, Prof. Nicholas Ada from Benue also insisted if the provisions of the constitution of the PDP must be followed the party has to allow North Central/Benue State to produce the next Chairman.
Other speakers at the town hall meeting were Former House Representative members RT Hon Terngu Tsegba Former Speaker Pro. Tempo, Hon.Hon. Zakari Mohammed (Kwara) Hon. Jiba Micah (FCT) and Chairman Former Councilors forum in Nasarawa State Hon. Hamisu Abubakar who all stood firm on the same position.
RT Hon. Samson Okwu Hon. Chief Mrs. Susan Waya, Hon. Richard Gbande. RT. Hon. Ezekiel Adaji who were also at the occasion also spoke and lent their voices to the town hall resolution.

Chinese cross-border e-commerce platforms gain popularity overseas

By Xu Peiyu

Nowadays, an increasing number of overseas consumers prefer to buy Chinese products on Chinese cross-border e-commerce platforms.

According to a recent report by a third-party market analysis firm, Chinese e-commerce platforms claimed half of the top 10 most downloaded shopping apps worldwide in 2023. SHEIN, a China-based international fashion e-commerce platform, ranked first on the list, followed by Temu launched by Chinese e-commerce giant Pinduoduo. Alibaba, AliExpress, and Pinduoduo were on the seventh, ninth, and tenth places, respectively.

AliExpress, a cross-border retail platform under Chinese e-commerce titan Alibaba, is the app that has gained the most new users in South Korea over the past year, said a report by a South Korean media outlet.

Temu has been well received by American consumers. An executive of the app said that it now offers nearly 4 million SKUs (Stock Keeping Units) in the United States, and has long remained the most downloaded app on both the Apple Store and Google Play in the United States.

Currently, Temu exports over 400,000 packages daily, with more than half of them being shipped to the United States.

Over 100,000 companies engage in cross-border e-commerce in China. Behind the rapid growth of cross-border e-commerce platforms is the rise of the country’s manufacturing capabilities. More and more Chinese factories are able to produce highly competitive products in terms of both quality and price.

The Pearl River Delta and the Yangtze River Delta, two major manufacturing hubs in China, have become important sources of goods for cross-border e-commerce. According to a report, the Yangtze River Delta has 32 comprehensive pilot zones for cross-border e-commerce, accounting for about 20 percent of the total in China. It also accounts for nearly half of the country’s cross-border e-commerce revenue.

“These Chinese cross-border e-commerce platforms are favored by global consumers mainly because, against the backdrop of global inflation, there is a greater demand for affordable goods. Compared to those on some other overseas e-commerce platforms, the products on Chinese platforms have significant price advantages,” said Li Mingtao, head of the research institute at the China International Electronic Commerce Center.

Li said these platforms have price advantages by connecting consumers directly with manufacturers, which eliminates intermediaries, and adopting shipping methods that have advantages and flexibility in terms of taxes, warehousing costs, and delivery. Besides, these platforms are still expanding their market share by offering subsidies and incentives to users, which greatly benefits consumers, Li added.

The rise of Chinese cross-border e-commerce platforms overseas has generated more opportunities for Chinese small- and medium-sized enterprises to expand the overseas market.

Multiple Chinese cross-border e-commerce platforms have rolled out one-stop services, helping merchants with consumer attraction, logistics fulfillment, and after-sales services. The only thing merchants need to do is to put their products on the shelf.

“The benefit of this approach is that it greatly lowers the access to cross-border e-commerce. In the past, you may need to have excellent English skills, know how to run a store and make logistics calculations, and handle after-sales issues. Now you only need to know your products and be able to supply them,” said a staff member of AliExpress.

After adopting the one-stop services, an online shop that sells children’s clothing on AliExpress saw a tenfold increase in its daily order volume on the first day of the “Double 11” shopping festival, and the shop’s monthly performance is still improving, according to the staff member.

SHEIN has adopted an on-demand flexible supply chain system, enabling efficient digital manufacturing while reducing inventory pressure.

Compliance is important for cross-border trade. Li said that protecting intellectual property rights is a key focus for major platforms, and strict measures have been formulated to prevent counterfeiting.

Products infringing upon intellectual property rights, suspected of dumping or receiving relevant complaints will be immediately delisted, said an executive of Temu.

With supply chain upgrades, innovations in platform models, and enhanced product competitiveness, it is believed that more and more Chinese products will be placed in the shopping carts of overseas consumers.

China accelerates efforts to develop brain-computer interface technology

By Gu Yekai, Yang Yanfan, People’s Daily

Beijing-based Xuanwu Hospital affiliated to Capital Medical University and a team at Tsinghua University successfully implanted a wireless brain-computer interface (BCI) processor into the skull of a paralyzed man during a clinical trial this January, significantly recovering his motor skills.

Thanks to the implantation, the man is now able to drink a bottle of water on his own via an air-filled glove.

Controlling movements through brain electrical activity, allowing brain cells to “interact” with computers via tiny electrical currents…These scenarios, once found only in sci-fi novels, are gradually becoming reality with the development and application of BCI technology.

BCI is a cutting-edge technology in the field of human-computer interaction and human-machine hybrid intelligence. It is believed to have the potential to promote economic and social development and improve people’s health and well-being in the future.

The medical and health sector is the primary application area for BCI. According to Luo Minmin, co-director of the Chinese Institute for Brain Research, Beijing, BCI has promising future applications, including decoding language and movement for patients with high paraplegia, treating epilepsy, depression, and even converting images into electrical signals to stimulate the visual cortex and restore some vision for people with visual impairment.

BCI integrates advanced theories and cutting-edge technologies from multiple disciplines. In recent years, the engineering and industrialization of BCI has accelerated significantly, largely due to the development of biomedical engineering, neural engineering and rehabilitation engineering, cognitive neuroscience and psychology, and artificial intelligence.

For instance, Juliano Pinto, a Brazilian who has paralysis, took the first kick of the 2014 FIFA World Cup in Brazil under the assistance of BCI. In 2016, Chinese astronauts on China’s Shenzhou-11 manned spacecraft completed in-orbit verification of BCI. Multiple international teams are implementing BCI technology to assist patients in typing and speaking with their mind.

China attaches great importance to the development of BCI technology. According to the Outline of the 14th Five-Year Plan (2021–2025), in brain-like intelligence and other areas of cutting-edge technology and industrial transformation, China will organize and implement the plan for incubating and accelerating industries of the future, and plan and create a layout for such industries.

In recent years, China’s BCI innovation ecosystem has been continuously improved, with continuous technological advancements and a growing range of product and service offerings. The industry is moving towards large-scale development.

In early 2023, the Chinese Institute for Brain Research, Beijing initiated an intelligent BCI enhancement program which aims to break through key technologies in invasive BCI and achieve initial clinical applications in three to five years. Besides, the institute has also established an entrepreneur and investment foundation and NeuCyber NeuroTech (Beijing) Company Ltd. in cooperation with other organizations.

So far, NeuCyber NeuroTech (Beijing) Company Ltd. has initiated more than 10 innovation projects in partnership with multiple Chinese universities and achieved significant progress in research and development. Li Yuan, business development director of the company, told People’s Daily that one of the BCI systems developed by the company utilizes cortical electrode technology, and its key components such as flexible high-density cortical electrodes and high-performance brainwave data acquisition device have been successfully developed and gone through validation through animal experiments.

Another BCI system of the company benchmarks against internationally advanced high-throughput flexible microwire electrode technology, and is equipped with large-bandwidth high-speed neural signal acquisition devices and motor imagery decoding algorithms. With a wired version of the system, macaques can agilely intercept a two-dimensional moving cursor with their minds.

The Tianjin University neural engineering team is one of the earliest research groups in China to focus on BCI. Ming Dong, vice president of Tianjin University, told People’s Daily that the university’s “Shen Gong” artificial neural robot series are able to synchronize cortical and muscle activities in active rehabilitation training.

For example, the core components of “Shen Gong – Shen Jia”, a neuro-regulated mechanical exoskeleton system of “Shen Gong”series, has obtained the medical device registration certificate issued by China’s National Medical Products Administration, and the system’s key technologies have been tested in over 1,000 clinical trials at multiple top-tier hospitals in China. “China has made significant breakthroughs in the innovation of software, key algorithms, and typical applications in the field of BCI,” Ming said. However, to expand the use of this technology, it still needs to make continuous exploration and innovation, and test the effectiveness of the technology through practice, Ming added