Nigeria Times

By Xie Weiqun, Shen Wenmin, People’s Daily

In the exhibition hall of Chinese tech firm Fourier Intelligent in the Zhangjiang AI Robot Valley, Pudong New Area, Shanghai, a humanoid robot GR-1 was showcasing its abilities. The 1.65-meter-tall and 55-kilogram-weight robot could walk at a speed of 5 kilometers per hour and carry a load of up to 50 kilograms.

“The GR-1 has a highly biomimetic body structure and human-like motion control, enabling it to perform functions such as fast walking, agile obstacle avoidance, stable uphill and downhill movement, and resistance to impacts. It is an ideal carrier for general artificial intelligence (AI),” said Gu Jie, chairman of Fourier Intelligent.

The company focuses on the development of high-performance rehabilitation robots. It has only eight years of history, but has already launched over 30 product series that are now used in more than 2,000 medical institutions.

“We have shifted our focus from ‘specialized robots’ to ‘general-purpose robots,’ aiming at the future mainstream of the industry. Humanoid robots have a certain degree of versatility and they have enormous potential in various application scenarios such as industry, rehabilitation, home services, and scientific research. Through independent innovation, we have been able to produce key components such as joints domestically,” Gu said.

Shanghai has made early and rapid progress in the development of the AI industry. Currently, there are over 350 AI enterprises above designated size in Shanghai, with a total output value of over 380 billion yuan ($53.6 billion), which is approximately three times of that five years ago.

Intelligent robots, involving advanced technologies such as AI, high-end manufacturing, and new materials, have become a new engine driving economic growth and a new frontier for technological competition.

Shanghai is proactively cultivating intelligent robots in order to build new engines of growth and competitive strengths for the future.

In October this year, Shanghai released an action plan on promoting high-quality innovative development of the intelligent robot industry in the 2023-2025 period. The plan aims at building Shanghai into a globally influential innovation hub for the industry by 2025.

According to the plan, Shanghai will create 10 leading robot brands, establish 100 exemplary robot application scenarios, and expand the total value of robot-related industries to 100 billion yuan.

Furthermore, the plan includes the establishment of three public service platforms: an intelligent robotics testing and pilot verification innovation center, a humanoid robot manufacturing innovation center, and a general-purpose robotics research institute.

It also aims to achieve a density of 500 industrial robots per 10,000 workers in key manufacturing sectors, and will significantly enhance the depth and breadth of robot applications in industries.

Under the guidance of the plan, all districts in Shanghai are making concerted efforts to create a sound environment for the development of the intelligent robot industry.

At the Lingang Summit of the Shanghai Intelligent Robot Industry Conference held in Shanghai’s Lingang Special Area on Nov. 14, the General Robot Industrial Research Institute and a Lingang robot industry base were officially unveiled.

Besides, an intelligent robot industry alliance was established in the area, and a group of high-level intelligent robot projects settled in. As a result, an intelligent robot industry ecosystem was initially formed in the area.

“Lingang Special Area is home to more than 150 core AI companies with over 5,000 research and development personnel. Around 40 industrial chain-related enterprises have gathered here, focusing on four major areas: general-purpose robots, industrial robots, service and special robots, and AI technology,” said Wu Xiaohua, an official in Lingang Special Area.

According to Wu, efforts will continue to be made in ten key fields such as whole robot manufacturing and AI chips, further strengthening the foundation for the development of the intelligent robot industry and building a demonstration area for intelligent robot applications.

Industrial data has a wide range of application needs in the field of intelligent industries, and it helps solidify the foundation of the intelligent robot industry.

To address the challenges of scattered and complex industrial data resources and long transaction chains, the Shanghai Data Exchange and Intsig, a leading tech company specializing in business data, artificial intelligence, and mobile applications, jointly established an industrial data innovation center on Nov. 25.

Through three innovative initiatives, namely, creating a new one-stop industrial data service link, building a new paradigm of on- and off-trading integration, and exploring cross-domain data integration projects, the center is committed to establishing a compliant, fair, and trustworthy data trading order and data commercialization ecosystem, turning industrial data from “resources” to “value.”

By He Yin, People’s Daily

The 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change, or COP28, kicked off in Dubai, the United Arab Emirates on Nov. 30.

The meeting will carry out the first-ever two-year assessment of the world’s collective progress toward the goals of the 2015 Paris Agreement, and is of great phased significance for the global climate governance process.

The international community expects all parties to adhere to the objectives, principles and institutional arrangements outlined in the United Nations Framework Convention on Climate Change, and send a positive signal of focused action and enhanced cooperation.

The COP28, themed “Unite, Act and Deliver,” reflects the aspiration of the international community to jointly cope with climate change. According to a recent report issued by the United Nations Framework Convention on Climate Change secretariat, national climate action plans remain insufficient to meet the goals of the Paris Agreement.

UN Secretary-General Antonio Guterres noted that the COP28 must be the place to urgently close the climate ambition gap, and developed countries must rebuild trust “by delivering on their finance commitments.”

China is a doer in advancing global climate governance. Since the beginning of this year, it has maintained close communication with all parties to promote a successful COP28 and the comprehensive and effective implementation of the Paris Agreement.

Recently, Chinese President Xi Jinping met with his U.S. counterpart Joe Biden in San Francisco. The two heads of state underscored the importance of working together to accelerate efforts to tackle the climate crisis in this critical decade.

They welcomed recent positive discussions between their respective special envoys for climate, including on national actions to reduce emissions in the 2020s, common approaches toward a successful COP28 and operationalization of the Working Group on Enhancing Climate Action in the 2020s to accelerate concrete climate actions.

Secretary-General of the World Meteorological Organization Petteri Taalas believes that this echoes the spirit of global cooperation and has a positive impact on addressing the challenges of climate change worldwide.

Xi recently emphasized in a phone call with French President Emmanuel Macron that China stands ready to work with France in sending a strong signal of jointly addressing the issue of climate change, so as to prompt the success of the COP28.

As a responsible developing country, China has actively addressed climate change as the intrinsic demand for it to realize sustainable development. It has contributed its wisdom and strength to global climate governance.

China has implemented a national strategy to actively address climate change, announced its carbon peak and carbon neutrality goals, and put in place a “1+N” policy framework for carbon peak and carbon neutrality.

It has promoted structural adjustments of industry, energy, and transportation, adopted energy-saving and efficiency-improving measures, established and improved market mechanisms, and increased forest carbon sinks.

China places mitigation and adaptation on equal footing, and has made positive progress in addressing climate change. In 2022, China’s carbon emissions intensity decreased by over 51 percent from its 2005 level.

China has been actively engaged in South-South cooperation on climate change, and actively participated in the multilateral process of climate change, showing great responsibility as a major country.

Recently, the Al Dhafra PV2 Solar Power Plant in the United Arab Emirates, which was contracted by a Chinese company, has been completed. It is currently the world’s largest single photovoltaic project, providing electricity for 200,000 households and reducing carbon emissions by 2.4 million tons annually.

By September 2023, China had signed 48 memorandums of understanding on South-South cooperation on climate change with dozens of developing countries. It has collaborated on the construction of four low-carbon demonstration zones and implemented 75 projects on climate change mitigation and adaptation.

Furthermore, China has trained over 2,300 officials and technical personnel in the field of climate change for more than 120 developing countries.

China has launched close cooperation with Europe on green development, established a China-Europe carbon neutrality research center, initiated the China-France Carbon Neutrality Center, and hosted the Global Sustainable Transport Forum. These efforts have helped build consensus on global climate governance and boosted confidence in addressing climate change worldwide.

Addressing climate change is a cause shared by all of humanity. All parties should uphold the United Nations Framework Convention on Climate Change as the main channel for global climate governance, stay committed to the principle of common but differentiated responsibilities, and promote full and effective implementation of the Convention and the Paris Agreement.

China will work with all parties to use the Global Stocktake as an opportunity to step up implementation, strengthen supporting measures and jointly build a fair, reasonable and win-win global climate governance system.

By Tian Hong, Du Yifei, People’s Daily

Chinese President Xi Jinping inspected a government-subsidized rental housing community and learned about the city’s efforts in constructing government-subsidized rental housing projects in Shanghai on Nov. 29.

It is reported that the rental housing community provides affordable rental accommodation for new urban residents and young people.

The rental pricing takes into account both market prices and the income levels of the targeted group. Each apartment in the community is equipped with independent cabinets, a bathroom, and a kitchen. Public spaces such as shared kitchens, laundry rooms, recreational areas, and book corners are also provided.

Shanghai is a megacity. It attracts frontline workers and managers across the country engaging in its urban construction and function. They are important contributors to the city’s development and orderly operation.

In recent years, Shanghai has actively explored the provision of more rental housing with good location, high quality and low rent for frontline laborers, thus better satisfying their actual demands. It has implemented precise supply to ensure their life and work in Shanghai with more safety, comfort and dignity, which have been welcomed by the targeted group.

Adhering to the principle that “cities are built by the people and for the people,” Shanghai has been working to promote high-quality development, improving people’s living quality, and pursuing high-efficiency governance, to make urban management more science-based, refined and intelligent, and to make people’s life more convenient, comfortable, and enjoyable.

In the construction of the city, Shanghai always puts the people’s needs in the first place. It has expedited efforts to revitalize and transform old buildings and urban villages.

This year, the city has renovated 85,200 square meters of lower-grade, scattered, old housing and refurbished 247,700 square meters of aging residential properties. Ten urban village renovation projects have been launched.

Shanghai is actively exploring sustainable development models for urban renewal, while establishing and improving relevant policy systems and mechanisms.

Remarkable progress has been made in key urban renewal projects, such as the Fangua Long in Jing’an District, the ancient Panlong Town in Qingpu District, and Wukang Building in Xuhui District. Meanwhile, an additional 68,000 affordable rental apartments have been constructed.

With an aim to build an urban space that is not only livable but also enjoyable and engaging, Shanghai has worked to ensure coordinated development, management, and quality enhancement of the Huangpu River and the Suzhou Creek.

The Suhe Bay Green Space, a maritime park in the North Bund, and the Dongjiadu Road Skywalk have become popular destinations for citizens and visitors. Furthermore, eight kilometers of riverside paths in Pudong and Minhang have been connected and opened to the public.

Shanghai is accelerating the construction of sponge city demonstration areas and pilot zones for green and low-carbon development, to enhance the overall quality of the city. This year, it has built 75 “beautiful blocks.”

To build a green, smart, and resilient metropolis, Shanghai has reinforced the management of green building projects, and advanced the development of green urban spaces.

This year, approximately 2.6 million square meters of ultra-low energy-consuming buildings are underway, complemented by energy-saving renovations in 5.3 million square meters of existing public structures.

Shanghai has been solidifying the digital infrastructure of urban governance, pursuing digital transformation in all areas of urban construction and management. Particular attention has been focused on gas supply safety, while the control and emergency response to major risk sources are fortified, to forge a robust security line for this megacity.

These explorations and practices of Shanghai are the epitome of China’s commitment to sustainable development and the promotion of new urbanization.

In recent years, China has been continuously advancing a people-centered approach to new urbanization, strengthening the construction of major projects to ensure people’s livelihood, and improving the quality of life for its citizens.

It has accelerated the renovation and upgrading of urban pipelines, increased the availability of inclusive elderly care and medical services, improved urban ecology through the construction of “pocket parks,” and continuously enhanced public fitness facilities.

In the first seven months of this year, investment in the production and supply of electricity, heat, gas, and water in China increased by 25.4 percent. During the same period, renovation was launched for a total of 46,600 old urban residential communities nationwide, benefiting 7.95 million households.

By Wu Qiuyu, Li Xinping, People’s Daily

“The efficiency and service attitude are amazing,” said Deng Xianhua, giving a thumbs-up to the staff members of a police station after getting her household registration transferred.

Deng, who lives in Wukang neighborhood in Deqing county, east China’s Zhejiang province, needed to transfer her household registration to her current residence from her hometown in Anhui province as her daughter was about to attend school in Wukang.

However, she was too busy with work to go back to Anhui to handle the matter. Fortunately, through a video remote service, she got the transfer done within minutes under the guidance from the staff members at the Wukang police station.

Deng’s story has gradually become the norm in the Yangtze River Delta region. In May 2019, the region launched a one-stop e-government service platform where 148 services were available. Over the past four years, Shanghai, Jiangsu, Zhejiang and Anhui in the Yangtze River Delta region have worked hand in hand to optimize this platform. As of June this year, the platform had handled over 6.4 million matters.

Chinese President Xi Jinping once stressed the need to enhance the access to basic public services in the region, so as to shore up weak links in people’s livelihood while pursuing regional integration.

The ultimate goal of the integrated development of the Yangtze River Delta region is to ensure and improve people’s livelihoods, and allow the general public to better share the fruits of high-quality development.

Over the past five years, Shanghai, Jiangsu, Zhejiang, and Anhui have adhered to a people-centered development philosophy, accelerating the construction of a livable Yangtze River Delta.

For the 237 million residents in the Yangtze River Delta, shared public services in transportation, education, healthcare and elderly care are the most intangible experiences brought about by integrated development.

Today, with their social security cards, the residents can take public transportation, visit museums, hit scenic areas, and receive subsidies in many cities in the Yangtze River Delta region. Since the security card has been made multi-purpose, basic public services have become more convenient in the region.

During this year’s May Day holiday, a resident surnamed Huang in Hangzhou, Zhejiang province, took her family on a trip to visit relatives in Bozhou, Anhui province. According to her, they used their electronic social security cards to buy and validate tickets at tourist sites, which she found extremely convenient.

Dong Lidan, who lives in Jiashan county, Jiaxing, Zhejiang province, had similar experiences. She told People’s Daily that she could have her settlement completed at the First People’s Hospital of Jiashan with the electronic certificate for medical insurance.

Dong’s father-in-law is from Shanghai. In the past, when he needed to purchase medication for his high blood pressure in Jiashan, he had to pay in cash first and then submit the invoices, medical records and detailed lists for reimbursement when he went back to Shanghai. And the reimbursement process took as long as some 20 working days. Now, with the direct settlement of expenses of outpatient chronic and specific diseases, it is much more convenient and worry-free, Dong said.

The Yangtze River Delta region has taken the lead in China to pilot the direct settlement of outpatient medical expenses across different cities and provinces. More than 15,000 medical institutions in 41 cities are now able to directly settle medical expenses across provinces, benefiting a total of 13 million people.

As lunchtime approached, senior residents happily enjoyed their meals at a dining hall in Zhongleshan neighborhood in Xujiahui subdistrict, Xuhui district, Shanghai. In recent years, Xuhui district has made great efforts to build integrated elderly care centers with medical, cultural, and sports facilities available within a 15-minute life circle.

Since 2018, civil affair departments in Shanghai, Jiangsu, Zhejiang, and Anhui have signed memorandums of understanding on eldercare cooperation, rolling out regional integrated eldercare pilot programs.

Shanghai and Anhui have planned to jointly construct an ecological green rehabilitation base for the aged in Anhui. Yixing in Jiangsu, Changxing county in Zhejiang, and Guangde in Anhui have signed an agreement to set up the country’s first inter-provincial cross-county demonstration area for eldercare.

In Tangdi village in Shaoxing, Zhejiang province, 98 percent of the labor force is engaged in flower and plant production and relevant businesses.

“We have taken powerful steps on the path towards achieving common prosperity, so that the masses can truly enjoy the fruits of development,” said Liu Jianming, Party head of the village and the director of the village committee. By leveraging the village’s advantages in the floriculture business, per capita income for villagers reached 120,000 yuan ($16,934) in 2022.

In 2022, the Executive Committee of the Yangtze River Delta Integration Development Demonstration Zone, together with the governments of Shanghai’s Qingpu district, Jiangsu’s Wujiang district and Zhejiang’s Jiashan county, issued an action plan on achieving common prosperity in the Yangtze River Delta Ecological Green Integrated Development Demonstration Zone, the first cross-provincial plan of its kind in China.

According to the plan, the per capita GDP in the zone is expected to reach 150,000 yuan, and the income gap between urban and rural residents should be no more than 1.8 by 2025. The per capita disposable income of residents is targeted to reach 80,000 yuan.

The action plan sets 26 goals in six areas, including high-quality economic development, ecological progress, and regional urban-rural integration.

“The introduction of the action plan has left a strong mark on the blueprint for common prosperity in the Yangtze River Delta, and broken the provincial and municipal boundaries in achieving common prosperity. It explores new paths to shared development in the Yangtze River Delta with a broader perspective and in a greater space,” said Zhou Haiwang, deputy director of the Institute of Urban and Demographic Studies, Shanghai Academy of Social Sciences.

By Xu Yuyao, Chungda Dolkar, Xian Gan, People’s Daily

Grabbing his phone and packing his backpack, Sonam Tsering, a forest ranger from a village, Bayi district, Nyingchi, southwest China’s Xizang autonomous region, started another patrol in the woods.

The village, located in the northwest of Bayi district, is surrounded by thick primitive forest. As Sonam Tsering trekked further down a small path in the forest, he occasionally took photos of the surrounding trees and made notes, promptly uploading the issues he discovered to a system through a mobile application that was specifically developed by Nyingchi for forest rangers.

With this application, forest rangers can record problems found in patrols and track their routes, so as to ensure the patrols are science-based and efficient.

And all of this was made possible with the support of a stable network. “Since our village accessed the 5G network, we could use more equipment and facilities, which are playing an increasingly important role,” Sonam Tsering told People’s Daily.

Kelsang Tseten, head of the village, has witnessed the village’s network upgrading. According to him, the villagers could not open even a simple web page before, but now they can watch online videos smoothly.

Many travelers were more than surprised. Kelsang Tseten often sees tourists livestreaming at the entrance road of the village. Many tourists pass through the village because it is near a renowned forest park, and the 5G network covering the village makes it easier for them to share their experiences.

“In fact, this has made our village more visible. When tourists post content on social media marked with our village location, many others follow the location and make this place their destination. Tourists can take a break in the village, have some snacks, and shop in local convenience stores, which contribute to the development of the village,” Kelsang Tseten said.

The developed network has allowed the world to learn more about Nyingchi. Every March and April, the Nyingchi peach blossom festival opens in various places in the city, attracting a large number of tourists. Thanks to the fast 5G network, the beautiful peach blossoms can be shown to viewers all over the world through livestreaming.

In addition, the harvests of the Nyingchi are also able to find new markets through the 5G network. For instance, apples and grapes in Mainling county, Zayu county’s kiwi fruits, and Medog county’s artisanal stone pots and teas are all sold through livestream marketing today.

The 5G network has brought new ideas for industrial development. In order to better integrate information technology with traditional agriculture, an ecological agriculture and animal husbandry company called Yarlung in Xizang’s Shannan has implemented a smart greenhouse project using 5G and Internet of Things technologies.

This has achieved production automation and intelligent management, saving 6.5 million yuan ($722,300) in labor costs for the company each year. The project has increased corn yields by 15 percent and tomato yields by 29 percent, and reduced maintenance costs by 50 percent compared to the original level.

The Julong Copper Mine, located in Lhasa, has an average altitude of over 4,000 meters with harsh operating conditions. Thanks to a 5G-enabled unmanned driving project for open-pit mining, the mine has been developed with reducing labor input and improving working environment. This project sets a benchmark for the upgrading and transformation of the industrial internet sector in Xizang.

According to Xizang’s communications administration, the autonomous region has built over 8,700 5G base stations so far, covering all the counties and main townships with the 5G network and providing 5G services to 1.84 million users. There are 23 5G base stations per 10,000 people in the region, reaching the national average.

By Wu Qiuyu, Li Xinping, People’s Daily

The Yangtze River Delta is one of the most economically vibrant, open and innovative regions in China. It encompasses four major economic engines – Shanghai, Jiangsu, Zhejiang and Anhui.

Shanghai serves as a frontier of openness and a prime innovation hub. Jiangsu province features strong real economy. Zhejiang province boasts a developed private economy. Anhui province possesses a rather comprehensive industrial system and rich scientific and technological resources…

On Nov. 5, 2018, Chinese President Xi Jinping announced at the opening ceremony of the first China International Import Expo that China would support integrated development of the Yangtze River Delta region, and make it a national strategy.

Over the past five years, the region’s night light development index jumped 57.24 percent, and the number of cities with a GDP of over 1 trillion yuan ($141.29 billion) increased to eight, or around 1/3 of the total in China. The integrated development strategy has brought tremendous changes to the Yangtze River Delta, writing a new chapter on Chinese modernization.

“In the past, when we encountered technical difficulties, we had to find solutions and resources by ourselves. Now we can directly post requests on the platform,” said Yang Weizhong, executive chairman of Shanghai Different Advanced Material Co., Ltd. (Shanghai Different), referring to an open competition platform for selecting the best candidates to undertake research projects launched by Shanghai’s Pudong New Area earlier this year.

According to him, developing high-performance hybrid fiber materials had been a headache bothering the company for years. Immediately following the launch of the platform, Shanghai Different posted its technical requests, which were soon picked up and solved by Jiangsu Gem Advanced Fiber Materials.

“Integrated development truly brings innovation resources to one focal point, opening up new possibilities,” Yang noted.

Innovation possesses the core position in China’s modernization drive. In recent years, the synergetic innovation index in the Yangtze River Delta region has been growing at 9.47 percent annually on average, and the region has shared 23 major scientific research facilities and more than 40,000 large scientific instruments. High-caliber technological supplies are effectively bolstering the high-quality economic development of the region.

On May 28 this year, C919, China’s self-developed large passenger aircraft, completed its first commercial flight, which was a testimony to the manufacturing muscle of the Yangtze River Delta. About 10 percent of the aircraft’s parts, 50 percent of its aluminum materials, and 50 percent of composite structural components were manufactured in Zhenjiang, Jiangsu province.

It marked a close collaboration andintegration of industrial chain resources among Yangtze River Delta cities, including Shanghai, Hefei, Hangzhou, Suzhou and Zhenjiang, which realized the dream of the Chinese people to make a large passenger jet of their own.

Under the promotion by Commercial Aircraft Corporation of China, C919’s main manufacturer, around 1,000 enterprises in the nine cities and districts along the G60 Science and Innovation Corridor have been incorporated into the aircraft manufacturing chain.

In Changzhou, a series of innovative industrial clusters have sprouted up around the new energy industry chain, with production value already surpassing 500 billion yuan.

In Jiaxing, the Yangtze Delta Region Institute of Tsinghua University, Zhejiang and the Zhejiang Institute of Advanced Technology under the Chinese Academy of Sciences are thriving; top-tier scientific innovation platforms – China Nanhu Academy of Electronics and Information Technology, Nanhu Laboratory, and Institute of Flexible Electronics Technology of Tsinghua University, Zhejiang – have also been launched.

In Hefei, Chinese new energy vehicle giant BYD has built a new manufacturing base, while establishing supporting facilities for key components like power batteries, battery materials, high-voltage devices and wire harnesses in Bengbu, Chuzhou and Fuyang, to form a comprehensive industry chain.

“These epitomize the modernized industrial landscape in the Yangtze River Delta, the unique strengths bred by integrated development,” remarked BYD chairman and president Wang Chuanfu.

The ever-strengthening innovation and industrial chains come from the continuous unleashing of the talent chain. As the Yangtze River Delta’s primary attraction for talents and highland for innovation, Shanghai welcomes both domestic and foreign talents, while also encouraging various talents to fully realize their potential in the region.

Jiangsu, Zhejiang, and Anhui provinces have established incubators and empowerment centers in Shanghai to further tap the metropolitan’s advantages in talent attraction and innovation resources.

“Previously, for foreigners in China to work in the securities industry, they had to ‘follow local customs’ and sit China’s securities qualification exam – a tall task halting many international finance talents,” said Park Pu, Chairman of J.P. Morgan Securities (China).

“Now Pudong has set up an international finance qualification accreditation catalog system, creating favorable conditions to draw global experts,” Pu added.

Integrated development is not a simple equation of combining strengths, but rather realizing complementary advantages and building synergy to form new advantages of high-quality development.

As the strategy of integrated development moves ahead, the four major economic engines of the Yangtze River Delta will work together even more closely to propel high-quality development.

By Xie Weiqun, Ji Juesu, People’s Daily

On Nov. 5, 2018, Chinese President Xi Jinping announced at the opening ceremony of the first China International Import Expo that China would expand the China (Shanghai) Pilot Free Trade Zone (FTZ) to include a new section.

Since its inauguration on Aug. 20, 2019, the Lingang new area of the China (Shanghai) Pilot FTZ has launched a series of measures of opening up.

The gigafactoryof Tesla, the first solely foreign-invested car manufacturing project in China, was put into operation. Amundi BOC Wealth Management Co., Ltd., the first foreign majority-owned wealth management venture in China, opened for business. The first financial technology company fully funded by a multinational financial group HSBC FinTech was established.

The Lingang new area also became the first in China to allow well-known overseas arbitration institutions to set up offices and launch foreign-related arbitration activities.

In 2020, the actual foreign investment in the Lingang new area reached $520 million, and the figure increased to $2.04 billion in 2022.

In order to enhance its capability in allocating factor resources globally, the Lingang new area has launched a pilot program on high-level opening up of foreign exchange management in cross-border trade and investment. So far, the volumes of cross-border domestic and foreign currency settlements have exceeded 2 trillion yuan ($282.73 billion) and $40 billion, respectively.

The area completed China’s first purchase of liquefied natural gas using cross-border RMB settlement from a member country of the Gulf Cooperation Council, and established a new type of public service platform for international trade.

Besides, the area has launched an international ship registration system, which ranks first nationwide in the number of ships registered for international routes. In 2022, the container throughput of Shanghai Yangshan Deep Water Port reached 23.92 million twenty-foot equivalent units, accounting for 50.6 percent of the total throughput of the Shanghai Port.

The Lingang new area completed China’s first security assessment for cross-border data flow in the field of intelligent connected vehicles, built a new type of data infrastructure system that meets international advanced level, established dedicated channels for international data transmission, and built a high-performance computing center.

It has constructed five international submarine fiber optic cables and two landing stations, and is preparing for building a direct international submarine fiber optic cable connecting Shanghai and Singapore, to attract more data elements to China.

The Lingang new area continues to enhance its capacity in breeding innovation and collaborating innovation globally. From Nov. 6 to 8, the 6th World Laureates Forum was held at the event’s permanent site in the Lingang new area, convening over 300 scientists from 25 countries and regions.

Now, foreign talents employed or invited by entities in the Lingang new area can apply for a residence permit for up to five years, and the area grants one-time work permits for no less than two years to urgently needed talent.

Besides, the area has relaxed restrictions on the employment of high-end overseas talent in the modern service industry, and established a positive list for filed practice and qualification examinations.

In order to build cutting-edge industrial clusters with international competitiveness, the Lingang new area has gathered leading enterprises and attracted over 200 supporting enterprises to settle in the area. In 2022, the total output value of intelligent new energy vehicles in the area exceeded 260 billion yuan.

At the same time, the Lingang new area has launched the Dishui Lake AI Innovation Hub, joined by 150 AI companies with more than 5,000 AI R&D personnel.

The Lingang new area is developing a specialized industrial park for the biopharmaceutical industry, with a focus on constructing a high-level research-oriented hospital. It is also establishing an independent, controllable, secure and reliable industrial cluster for domestic large aircraft. China’s first domestically developed engine for large commercial aircraft has been successfully used, and the self-developed large passenger aircraft C919 has commenced commercial passenger flights.

On Oct. 27, the International Data Economy Industrial Park was officially unveiled in the Lingang new area. According to the plan, the industrial park will be built into a high-level bridgehead for international data cooperation, a high-standard pioneer zone for institutional innovation in the sphere of the cross-border data system, a high-quality hub gathering international data industries, and a high-capacity new center for data circulation infrastructure.

So far, the Lingang new area has initially established a relatively mature system of investment and trade liberalization and facilitation, and has built a number of functional platforms with a higher degree of openness. It has initially developed an open industrial system that is internationally competitive.

The area has optimized its government services, consolidating the exercise of 1,215 administrative matters at the municipal and district levels. It has implemented a registration confirmation system, reducing the time required for enterprise registration by 75 percent.

It has also carried out a unified certificate and license application program, realizing one-time processing for enterprise entry and approval.

Since its inauguration, the Lingang new area has witnessed a significant increase in its economic strength and overall economic output. The area has produced 102 breakthrough innovation cases. It has signed nearly 500 projects in cutting-edge sci-tech industries, with total investment exceeding 600 billion yuan. In the first half of 2023, the total output by industrial enterprises above designated size in the Lingang new area increased 52.6 percent year-on-year. The area’s fixed asset investment and tax revenue grew by 57.2 percent and 47.5 percent, respectively.

By Zou Xiang, People’s Daily

A wave of executives from prominent foreign companies have been visiting China since the start of the year, seeking opportunities to expand their cooperation with partners in the country. With tangible actions, they have demonstrated confidence in the Chinese market. Their engagement underscores China’s enduring magnetic appeal to international investors.

Multinational corporations are in the best position to describe this magnetic appeal. A Q3 survey by the China Council for the Promotion of International Trade, which covered over 700 foreign-invested enterprises, found that 80 percent of the surveyed companies expect stable or rising profits this year, and nearly 90 percent anticipate stable or increased profits in the next five years.

From January to October, 41,947 foreign-invested enterprises were newly established in China, a  year-on-year increase of 32.1 percent. Actual investment from Canada, the UK, France, Switzerland and the Netherlands surged 110.3 percent, 94.6 percent, 90 percent, 66.1 percent and 33 percent, respectively, from a year ago.

Many foreign companies consider investing in China as a “must-have” option, as the open and continuously developing country remains a hotspot for global capital. As Chinese President Xi Jinping pointed out, China has become a synonym of the best investment destination, and that the “next China” is still China.

The increasing foreign investment in the Chinese market stems from a firm belief in the prospects of China’s development. This year, the momentum of world economic growth is sluggish. Destabilizing, uncertain and unpredictable factors are increasing. Economies around the world are facing significant challenges. However, the Chinese economy has withstood the pressure, maintained stability, and improved its quality.

China’s GDP grew 5.2 percent year-on-year in the first three quarters, ranking among the top performers among major economies, and the resilience, vitality, and potential of China’s economic development continued to show this October. China still remains the largest engine driving global growth, and is expected to contribute 1/3 to global economic growth this year.

Facts speak for themselves. The fundamentals of the Chinese economy – its strong resilience, enormous potential, vast room for maneuver and long-term sustainability – remain unchanged. The high-quality development of the Chinese economy injects strong positive energy into global economic growth, bringing about more market opportunities, growth opportunities, and cooperation opportunities.

The confidence in investing in the Chinese market comes from the increasing openness of China. The recently concluded 6th China International Import Expo (CIIE) saw a total of $78.41 billion worth of tentative deals reached for one-year purchases of goods and services, setting a record high, and representing a growth of 6.7 percent compared to the previous year.

These solid figures serve as concrete evidence to the world that “Modernization for 1.4 billion Chinese is a huge opportunity that China provides to the world.”

Besides, the third Belt and Road Forum for International Cooperation concluded with 458 deliverables. During the forum, Chinese and foreign companies reached business deals worth $97.2 billion.

China has generated fresh momentum for greater openness, stronger cooperation, and better development through platforms such as the CIIE, China Import and Export Fair, China International Fair for Trade in Services, China International Consumer Products Expo, and through its efforts to pursue high-quality and high-level Belt and Road cooperation.

“We will continue to pursue high-quality development and high-standard opening up. Chinese modernization will bring the world more and greater opportunities for the modernization of all countries.” The remarks made by Chinese President Xi Jinping at the 30th APEC Economic Leaders’ Meeting represented not only a solemn promise, but also practical actions.

China enjoys distinct advantages such as a socialist market economy in systemic terms, a supersize market in terms of demand, a full-fledged industrial system in terms of supply, and abundant, high-caliber labor force and entrepreneurs in terms of human resources. These inherent advantages manifest the internal logic and strong resilience of China’s economic growth, which also determines that the long-term trend in attracting foreign investment in China will not change.

An international accounting firm said in a report that China will still remain the most attractive growth market in the world. Looking ahead, China’s resolve to foster a market-oriented, law-based and world-class business environment will not change. And its policy of providing equal and quality services to foreign investors will not change. It will continue to improve the mechanisms for protecting the rights and interests of foreign investors, further shorten the negative list on foreign investment, fully ensure national treatment for foreign investors.

Practice will continue to prove that investing in China is investing in the future, and choosing China is choosing the future.

McKinsey Global Institute estimated that in 2020, 55 cities in China with 27 percent of the country’s population were “higher income” cities, and by 2030, this number will reach 93 cities, covering 44 percent of China’s population. “If you are looking for growth, the answer is very simple,” the organization noted.

In an open and continuously developing China, the Chinese market, full of infinite possibilities, is bound to attract more multinational companies to invest and thrive there. Together with Chinese enterprises, they will write more splendid chapters of creating new opportunities for the world with high-quality development.