BDC operator admits owing $90,000 to Chinese accused of money laundering, exonerates Nigerian for dealing in Crypto Currency transaction

In set above are two learned senior advocates of Nigeria, SANs: Mr. Edwin Anikwem, (left) counsel to Genting International Company Limited, (the 4th defendant), and Mr. Clement Onwuenwunor, counsel to the second defendant, Engr. Friday Audu…….. after the court session on Tuesday, July 8, 2025 at the Federal High Court, Ikoyi, Lagos.

By Ibeawuchi Uwaleke, (Advocatenewsng.com), 09064186047.

A Bureau De Change operator and the second prosecution witness procured by the Economic and Financial Crimes Commission, EFCC, Mr. Alhassan Garba in the N3.4 billion money laundering charge preferred against two Chinese and a Nigerian, admitted on Tuesday July 8, 2025 that he is still owing $90,000 USD to Mr. Huang Haoyu, (Aka Ken), one of the two Chinese standing trial at a Federal High Court, Ikoyi Lagos.

The witness equally exonerated the Nigerian charged along with the Chinese, Engineer Friday Audu for being part of the WhatsApp group he was relating with in the transaction of USDTN Crypto Currency Wallet from where he made several transfers to a company, Genting International Company Limited, also accused in the money laundering case.

Mr. Garba was led in evidence by counsel to Audu, Mr. Clement Onwuenwunor, a Senior Advocate of Nigeria, SAN who took on the witness in a cross examination to ascertain how he knew Audu and how his client, the second defendant, was robed in a case of dealing in Crypto Currency Wallet transaction he knew nothing about.

When Mr. Onwuenwunor SAN, asked Alhassan whether he still stands by the statement he made to EFCC implicating Audu as the person who told him what to say at EFCC and what not to say, as well as introducing him to one Mr. Sen, a Chinese, who is now at large, he claimed that he still stands by his statement, but however affirmed that Audu was not one of the people who he was dealing with in Crypto Currency transaction and also said it was not Audu that introduced him to Mr. Sen.

He gave the name of the person who was sending him the Dollars he was changing into Naira and transferring to Genting International Company Limited bank account with Union Bank as Huang Haoyu, Aka, Ken, the first defendant in the suit. He equally now accepted, under further cross examination, that it was not Friday Audu, the second defendant, who introduced him to Mr. Sen, but instead it was Mr. Ken who he had personal contact with.

When the learned Silk put it to him that all the statements he made to EFCC were all lies as he was now contradicting himself from the statements after he requested the Registrar of the court to bring the statements from the court’s record and showed them to the witness, he stammered the answer in response and claimed that what he was saying was the truth.

Under further cross examination on how he knew Mr. Sen whom he has been doing business with for quite some time, he denied knowing Sen, but admitted that it was only in August 2024 that he transacted business in Crypto Currency with Mr. Sen, adding that all other times it was Mr. Ken who transacted business with him in Dollars.

On the $90,000 USD he is still owing Mr. Ken, one of the accused persons, and why he did not state the amount in his statement to EFCC, as he was pressured by counsel to Audu, Mr. Clement Onwuenwunor, SAN, Alhassan said he did not remember to include the amount in his statement, but admitted that the $90,000 USD was the exact amount which got stuck in transmission during the transaction, which he agreed till date, has not been reversed.

When asked further by Onwuenwunor SAN, whether the WhatsApp group he was transacting USDTN with, Audu was a member of the group, Mr. Garba answered emphatically no, adding that the second accused was not part of the Dollar transactions, but was aware when the Naira equivalent was transferred to the Genting International Company Limited bank account, a company he facilitated its registration for Ken with the Corporate Affairs Commission, CAC, as sports betting concern.

Asked whether his business in dealing in Crypto Currency and in Dollar exchange transactions is genuine and registered with the relevant authorities, Alhassan said: “I work with Hugo Vice Bureau De Change as a staff, I am not the owner. I have been in the business for over 10 years now.

“Our Bureau De Change is registered to transact business in foreign exchange and we have the certificate. We also have Schmo certificates to deal in Crypto digital currency. All the certificates are still valid. All these certificates we also submitted to EFCC when we were requested to present them there.”

On the transfer that was made on September 4, 2024, of a certain amount to Genting International Company account, Alhassan claimed that he was not the one that made the transfer, adding that the Crypto Wallet Account he used to receive the Dollar transfers or made transfers with did not belong to him, but to one Jonathan Ifesinachi.

Mr. Edwin Anikwem, SAN, counsel to the company, Genting International company Limited, stepped in immediately after Mr. Onwuenwunor SAN concluded his cross examination on behalf of the second defendant, and after reviewing the whole charge on the money laundering case, asked Alhassan whether all the Dollars he received from the Crypto Currency Wallet account and converted into Naira equivalent which he transferred into Genting company account was reported one way or the other as an illegal money or money laundered into Genting International Company account as being alleged by the prosecution. His answer was an emphatically ‘no’. “There was no such thing, and all the money I converted and transferred into Genting account are not illegal money, that I know”.

The cross examination on Alhassan Garba continues on Thursday, July 17, 2025 when the court sitting before Justice Daniel Osiagor of the Federal High Court, Lagos division adjourned the matter to give opportunity to Mr. Adeniyi Joshua, counsel to the third defendant, Mr. An Hongxa, a Chinese, who was not in court at the last adjourned date, to take his turn to cross examine the second prosecution witness.

At the court on Tuesday, July 8, 2025 also was Mr. Emeka Okpoko, SAN, counsel to the first defendant, Mr. Haoyu, a Chinese, leading another senior lawyer, Mr. Nnaemeka Amaechina and they took their turn to cross examine the second prosecution witness, Alhassan on July 1, 2025.

China’s 1,000-kW-class civil turboshaft engine obtains production license

By Qiu Chaoyi, People’s Daily

China just achieved a significant milestone in aviation propulsion technology. According to Aero Engine Corporation of China (AECC), the AES100 engine has officially obtained its production license and secured its first sales contract, marking a transition from design and development to mass production. 

Aviation engine is often regarded as the “heart” of an aircraft. The AES100 represents China’s first independently developed 1,000-kW-class advanced civil turboshaft engine, achieving full compliance with international airworthiness standards. It has made breakthroughs in more than 200 key technologies and received approval for scaled and stable production, laying a solid foundation for its market entry and for accelerating the development of low-altitude aviation equipment.

The engine has a high safety level, excellent cost-efficiency and broad environmental adaptability. It can be used in 5-to-6-tonne twin-engine helicopters and 3-to-4-tonne single-engine helicopters, as well as tiltrotor aircraft and other aerial vehicles, and can undertake missions in such areas as transport, sightseeing, patrols and rescue operations.

The granting of this production license signifies China’s capability to independently develop and manufacture advanced civil turboshaft engines, said Li Gaiqi, chief designer of the AES100 engine. According to Li, China has established complete supply and industrial chains for the engine, which is crucial for large-scale applications, advancing the low-altitude economy, and supporting the development of the general aviation industry.

On June 5, AECC signed sales and lease contracts with Shenzhen-based drone maker United Aircraft, with deliveries planned before the end of next year. The AES100 engine will be used to power Lanying R6000, a model of 6-metric-ton unmanned tiltrotor aircraft designed for cargo transportation.

China’s 6G vision forges an era of universal intelligence

By Liu Guangyi

As 2025 dawns, the global telecommunications industry marks a pivotal moment: the commencement of the ” 6G standardization era.” International standards bodies are expected to crystallize by 2029, with initial commercial trials slated for deployment around 2030.

While 5G already delivers impressive capabilities: ultra-high speeds, minimal latency, and massive connectivity, 6G promises a quantum leap. It targets transmission rates exceeding 100 Gbps while slashing latency below one millisecond, crucial for real-time applications like smart-factory robotics and remote equipment operation. 

In terms of connectivity, 6G will integrate exponentially more devices, particularly sophisticated Internet of Things (IoT) systems, intelligent terminals, and biomedical sensors, laying the groundwork for a truly intelligent, interconnected world.

6G transcends mere speed enhancement. Its revolutionary potential stems from three integrated dimensions. First is sensing-communication integration, where communication signals not only transmit data but perceive physical environments. Second is terrestrial and non-terrestrial synthesis, with unified networks spanning ground, air, underground, and underwater for ubiquitous coverage. Third is communication-intelligence convergence, with computational intelligence embedded within network architecture. These advances will transform 6G from a communication medium into a comprehensive next-generation mobile information network.

As of June 2024, China retains its leading position worldwide of 6G-related patent applications. Regarding fundamental research, the longstanding “impossible triangle” in wireless communications – balancing latency, reliability, and throughput – has historically constrained progress. Now, researchers at China’s Purple Mountain Laboratories have pioneered spacetime two-dimensional channel coding, a breakthrough enabling ultra-reliable, near-instantaneous 6G transmission.

Engineering milestones further cement this momentum. Last July, Academician Zhang Ping from the Chinese Academy of Engineering unveiled the world’s first field test network for 6G communication and intelligent integration. 

China’s telecommunication operator China Mobile, in collaboration with the ZGC Institute of Ubiquitous-X Innovation and Applications, developed a cloud-native 6G prototype system, achieving single-user rates surpassing 8 Gbps and validating more than 10 novel 6G technologies via a ten-site network. In February 2023, China also launched the world’s first satellite to test 6G architecture in space.

The concurrent rise of AI, robotics, and low-altitude economy technologies, coupled with the intelligent transformation of manufacturing, propels 6G advancement. Empowered by unprecedented advancements in sensing, computing, big data, and AI integration, 6G is expected to unlock transformative applications.

Consider low-altitude drones: future 6G networks could imbue them with real-time environmental perception and distributed computing capabilities, optimizing design and extending flight time. Similarly, embodied AI robots could offload computation-intensive tasks to nearby 6G base stations, yielding lighter, more durable, and cost-effective units, paving the way for mass adoption across industries. This signals 6G’s fundamental distinction: not merely an incremental upgrade from 5G, but a core technological pillar poised to reshape entire industrial ecosystems.

In transportation, 6G could drive the construction of fully connected transportation systems and smart cities, seamlessly connecting surrounding vehicles, infrastructure, and pedestrians. Such integrated systems would enable truly intelligent traffic management and make fully autonomous driving to a reality. Pilot projects based on these principles are already being deployed in several Chinese cities.

Globally, however, perceptions of 6G’s trajectory remain fragmented, reflecting divergent technological infrastructures and developmental priorities. Technical discussions must evolve beyond simplistic metrics like peak speeds and latency reductions because 6G’s true potential lies in embracing cross-disciplinary innovation. Strategically, it cannot be viewed through a single-industry lens, but as a foundational enabler for digital and intelligent transformation across all sectors.

To that end, global industry stakeholders must strengthen collaboration and strive toward early technical consensus. Such alignment will be vital for establishing unified global 6G standards and ecosystems.

(Liu Guangyi is the chief expert of China Mobile and chief scientist of the ZGC Institute of Ubiquitous-X Innovation and Applications. The article is based on an interview with Liu by People’s Daily journalist Yu Sinan.)

Resurrecting ancient art: Digital technology reawakens murals of Kizil Caves in Xinjiang

By Li Yanan, Dong Yingxue, People’s Daily

Within the Kizil Thousand-Buddha Caves in Baicheng county, Aksu prefecture of Xinjiang Uygur autonomous region, visitors are greeted by a refreshing coolness – a welcome respite from the arid expanse of northwest China. Here, among the country’s earliest large-scale grotto groups, cave walls shimmer with rows of jewel-toned diamond patterns. Each geometric frame encapsulates a story, with blues and greens from millennia-old murals unfolding in solemn procession across stone canvases.

Yet time has been unkind. As China’s oldest surviving Buddhist cave complex, Kizil confronts relentless preservation challenges. Centuries of aging, smoke damage, and human intervention have compromised its artistic legacy. “Restoration is painstaking,” said Yang Jie, a staff member at the Kizil Grottoes research institute. “A single four-to-five-square-meter mural can demand over two months of meticulous work.”

Of Kizil’s 349 caves, 107 contain murals spanning nearly 4,000 square meters, only a fraction of their original glory. In the early 20th century, foreign expeditions removed significant portions. According to Zhao Li, a researcher at the institute, around 500 square meters of murals from 59 caves were stripped away.

From 2002 to 2016, Zhao collected 487 high-resolution images of these scattered fragments from over 20 international museums and brought them back to China for digital restoration. This meticulous effort required extensive research to determine each mural’s original location. She digitally cropped and reassembled the pieces like a massive jigsaw puzzle, culminating in 2020 with the most comprehensive catalog of displaced Kizil artworks – a 1,200-plate compendium mapping each artwork to their ancestral caves.

Where soot obscures murals, advanced technologies now illuminate. A project jointly launched by the China Cultural Heritage Information and Consulting Center, the Digital Culture Laboratory under Tencent’s Sustainable Social Value organization, and the Tencent Research Institute, is pioneering the use of terahertz imaging, X-ray analysis, and large language models to identify,  reconstruct and digitally restore damaged artworks

In Cave 161, layers of grime cloak artistic narratives. A research team from the School of Art and Archaeology of Zhejiang University employed terahertz time-domain spectroscopy to non-invasively penetrate the darkened surfaces, revealing pigment layers beneath and effectively seeing through centuries of residue without damaging the murals.

“We’ve identified one figure, two concentric circles on the dome, and diamond motifs, all classic Kuqa artistry,” said Zhang Hui, professor with Zhejiang University, gesturing toward the blackened ceiling. Next, the team will digitally reconstruct these findings using advanced analytical techniques.

Meanwhile, Cave 38’s fragmentary murals defy conventional restoration. Here, artificial intelligence offers a breakthrough: The Digital Xinjiang Group utilizes image recognition to hypothesize and reconstruct missing sections – a technological leap accelerating preservation.

At the foot of the Mingwutag Mountain, poplars planted decades ago by researchers stand sentinel beside the caves. Today, as these silent witnesses guard Xinjiang’s cultural legacy, technological innovation breathes new vitalityinto ancient pigments, ensuring their stories endure for generations.

China’s port economy powers ahead with strong momentum

By Han Xin, People’s Daily

Along the Bohai Sea coast, Tianjin Port stands as a dynamic hub where the value of port-driven development continues to expand.

Within the port, towering gantry cranes and docked vessels form a bustling scene. Smart control systems work in tandem with AI-powered transport robots to keep operations running smoothly, handling over 1.5 million tons of cargo everyday.

Just a few dozen kilometers away in Binhai New Area, trading companies leverage direct shipping routes to Latin America, establishing a rapidly maturing supply chain for imported fruits. During the first five months of this year alone, Tianjin Port recorded imports of fruits and seafood from Latin America worth 8.1 billion yuan ($1.13 billion).

In Tianjin’s Heping district, a steady flow of cross-border trade financing is helping inject fresh vitality into international shipping. The growing logistics simultaneously drives with modern service sector enterprises now comprising 98% of district businesses.

Tianjin Port offers a vivid snapshot of the broader growth seen across China’s port economy. According to the Port Economic Development Report of Chinese Seaport Cities 2024 released by the Transport Planning and Research Institute under the Ministry of Transport, the total value-added output of China’s coastal ports reached 6.7 trillion yuan in 2024, a year-on-year increase of 360.6 billion yuan.

“The port economy of seaport cities centers on the port itself, using the city as a platform. It encompasses a wide range of port-related industrial activities, integrating ports, industries, and urban development into a unified, open economic system,” said Liu Zhanshan, deputy director of the Transport Planning and Research Institute.

Ports’ economic impact is quantifiable: each 10,000 tons of cargo handled at coastal ports generates roughly 1.94 million yuan in GDP. Additionally, every 100 million yuan invested in port construction creates nearly 10,000 jobs. By the end of 2024, China had 2,971 berths capable of accommodating vessels of 10,000 tons or more, 1.4 times the number from a decade ago.

On May 15, China’s largest vessel powered by solar energy and liquefied natural gas , the Yuanhai Kou, was officially delivered at Nansha Port in Guangzhou, south China’s Guangdong province. The ship transported nearly 4,000 China-manufactured vehicles to multiple European destinations.

Today, shipping vehicles from Guangzhou has become the preferred solution for many automakers. In 2004, Guangzhou Port handled just 15,000 vehicles. By 2024, the number had soared to over 1.4 million, a near 100-fold increase over two decades. As southern China’s largest automotive export terminal, the port reflects the rapid rise of the country’s new energy vehicle industry.

While the composition of port cargo continues to evolve, the drive toward industrial upgrading remains constant. The report shows that in 2024, port-driven economic activity accounted for 15%, 22%, and 8% of the output in the primary, secondary, and tertiary sectors, respectively. Ports are playing a particularly strong role in supporting agriculture and manufacturing sectors.

“Within the secondary sector, port-driven growth has been especially notable in strategic emerging industries such as computer and communication equipment and chemical products. These industries accounted for 15.9% and 12.7% of incremental growth in the secondary sector, respectively,” Liu explained. “This shows ports are playing a key role in helping surrounding industries upgrade and transform.”

The evolution of China’s port economy also reflects the increasingly symbiotic relationship between ports and cities.

In Rizhao, east China’s Shandong province, summer breezes now sweep across Hailong Bay, a site once dominated by coal yards. As China’s first “port-to-city restoration” project, Hailong Bay has undergone a dramatic transformation: the coal operations were relocated, 1,882 meters of ecological shoreline restored, and 460,000 square meters of new beach area created. The port is now a scenic zone, attracting a steady stream of tourists, said a local official.

By leveraging a “port-industry synergy model,” Rizhao Port has built an integrated supply chain spanning grain logistics, storage, and feed processing. The port serves as a key logistics node for multiple provinces including Shandong, Henan, Shaanxi, and Sichuan, attracting major players such as COFCO and China Grain Reserves Group. Currently, over 85% of Rizhao’s output value of industrial enterprises above the designated size comes from port-related industries.

Ports drive urban growth, and in turn, cities fuel the development of ports. The report highlights how port economies are becoming increasingly significant drivers of urban development. In Tianjin, for instance, 147 container shipping routes link Tianjin Port to over 500 terminals around the world, and the city’s marine economy has surpassed 400 billion yuan. In Yantai, Shandong province, a comprehensive supply chain service park is under construction, set to upgrade the traditional port area into a modern port service hub that better integrates with city development.

Across China, a growing number of modern, globally competitive ports are emerging as vital pillars in the country’s journey toward high-quality development.

China’s port economy powers ahead with strong momentum

By Han Xin, People’s Daily

Along the Bohai Sea coast, Tianjin Port stands as a dynamic hub where the value of port-driven development continues to expand.

Within the port, towering gantry cranes and docked vessels form a bustling scene. Smart control systems work in tandem with AI-powered transport robots to keep operations running smoothly, handling over 1.5 million tons of cargo everyday.

Just a few dozen kilometers away in Binhai New Area, trading companies leverage direct shipping routes to Latin America, establishing a rapidly maturing supply chain for imported fruits. During the first five months of this year alone, Tianjin Port recorded imports of fruits and seafood from Latin America worth 8.1 billion yuan ($1.13 billion).

In Tianjin’s Heping district, a steady flow of cross-border trade financing is helping inject fresh vitality into international shipping. The growing logistics simultaneously drives with modern service sector enterprises now comprising 98% of district businesses.

Tianjin Port offers a vivid snapshot of the broader growth seen across China’s port economy. According to the Port Economic Development Report of Chinese Seaport Cities 2024 released by the Transport Planning and Research Institute under the Ministry of Transport, the total value-added output of China’s coastal ports reached 6.7 trillion yuan in 2024, a year-on-year increase of 360.6 billion yuan.

“The port economy of seaport cities centers on the port itself, using the city as a platform. It encompasses a wide range of port-related industrial activities, integrating ports, industries, and urban development into a unified, open economic system,” said Liu Zhanshan, deputy director of the Transport Planning and Research Institute.

Ports’ economic impact is quantifiable: each 10,000 tons of cargo handled at coastal ports generates roughly 1.94 million yuan in GDP. Additionally, every 100 million yuan invested in port construction creates nearly 10,000 jobs. By the end of 2024, China had 2,971 berths capable of accommodating vessels of 10,000 tons or more, 1.4 times the number from a decade ago.

On May 15, China’s largest vessel powered by solar energy and liquefied natural gas , the Yuanhai Kou, was officially delivered at Nansha Port in Guangzhou, south China’s Guangdong province. The ship transported nearly 4,000 China-manufactured vehicles to multiple European destinations.

Today, shipping vehicles from Guangzhou has become the preferred solution for many automakers. In 2004, Guangzhou Port handled just 15,000 vehicles. By 2024, the number had soared to over 1.4 million, a near 100-fold increase over two decades. As southern China’s largest automotive export terminal, the port reflects the rapid rise of the country’s new energy vehicle industry.

While the composition of port cargo continues to evolve, the drive toward industrial upgrading remains constant. The report shows that in 2024, port-driven economic activity accounted for 15%, 22%, and 8% of the output in the primary, secondary, and tertiary sectors, respectively. Ports are playing a particularly strong role in supporting agriculture and manufacturing sectors.

“Within the secondary sector, port-driven growth has been especially notable in strategic emerging industries such as computer and communication equipment and chemical products. These industries accounted for 15.9% and 12.7% of incremental growth in the secondary sector, respectively,” Liu explained. “This shows ports are playing a key role in helping surrounding industries upgrade and transform.”

The evolution of China’s port economy also reflects the increasingly symbiotic relationship between ports and cities.

In Rizhao, east China’s Shandong province, summer breezes now sweep across Hailong Bay, a site once dominated by coal yards. As China’s first “port-to-city restoration” project, Hailong Bay has undergone a dramatic transformation: the coal operations were relocated, 1,882 meters of ecological shoreline restored, and 460,000 square meters of new beach area created. The port is now a scenic zone, attracting a steady stream of tourists, said a local official.

By leveraging a “port-industry synergy model,” Rizhao Port has built an integrated supply chain spanning grain logistics, storage, and feed processing. The port serves as a key logistics node for multiple provinces including Shandong, Henan, Shaanxi, and Sichuan, attracting major players such as COFCO and China Grain Reserves Group. Currently, over 85% of Rizhao’s output value of industrial enterprises above the designated size comes from port-related industries.

Ports drive urban growth, and in turn, cities fuel the development of ports. The report highlights how port economies are becoming increasingly significant drivers of urban development. In Tianjin, for instance, 147 container shipping routes link Tianjin Port to over 500 terminals around the world, and the city’s marine economy has surpassed 400 billion yuan. In Yantai, Shandong province, a comprehensive supply chain service park is under construction, set to upgrade the traditional port area into a modern port service hub that better integrates with city development.

Across China, a growing number of modern, globally competitive ports are emerging as vital pillars in the country’s journey toward high-quality development.

AI unlocks new frontiers for retail in China

By Lin Lili, People’s Daily

China’s retail sector is embracing AI through diverse innovations. In stores equipped with AI-enabled interactive shelves, picking up a product triggers a digital display that introduces its features and functions. In restaurants, AI-powered inspection tools automatically detect whether kitchen staff have washed their hands and monitor inventory in real time. In unmanned stores, computer vision and sensor-equipped shelves accurately track product selection, enabling customers to simply pick up items and walk out after paying via facial recognition or QR code scans.

At the 2025 ChinaShop, the largest retail exhibition in Asia, AI’s presence was seen throughout the retail ecosystem. Technologies ranged from smart shelving and cold-chain logistics to unmanned vehicles and drones, as well as data analytics platforms that interpret consumer behavior and automate responses. This technological integration is fundamentally transforming retail operations while redefining the consumer experience.

China is advancing AI-consumption integration as a strategic component of its digital economy development. This approach enriches the AI application scenarios while creating new avenues for expanding domestic demand. By deploying AI, virtual reality, and big data technologies across consumer sectors, the country enhances supply-demand alignment, boosting consumer confidence with more personalized, responsive services.

As China has moved beyond the era of “shortage economy,” the central question in retail business becomes what compels consumers to willingly spend in today’s market? 

A key shift in modern retail is the transition from product-centered to user-centered models. Younger consumers, who grew up in the digital age, now drive market trends. Retailers must offer more personalized, immediate experiences to meet rising expectations. 

For example, some beauty stores now use AI-enabled shelves that respond to voice commands, helping shoppers find and select suitable products. E-commerce platforms are also rolling out virtual fitting rooms and 3D previews to simulate “try-before-you-buy” experiences. 

With the integration of AI, retailers can deliver customized recommendations, targeted promotions, and flexible payment and delivery options, putting the users truly at the center of the retail journey.

Big data and AI are also transforming supply chains by bridging the gap between consumer data and production insights. Through precise user profiling, companies can better match supply with demand. One example is the rise of C2M (Customer-to-Manufacturer) models, where businesses collect consumers’ personalized preferences and convert them into tailored product designs. This helps resolve the long-standing tension between mass production and personalized customization. In this way, “AI + consumption” creates a closed data loop that allows demand to guide supply, reinforcing a two-way cycle of value creation.

AI is not only reshaping front-end consumer interactions but is also redefining value across the entire retail chain. Traditional retail structures centered on people, goods, and spaces are evolving into intelligent retail ecosystems. With AI tools, manufacturers, logistics providers, and retailers can connect seamlessly across both online and offline channels. From product development and marketing to process optimization and inventory management, AI dramatically improves supply chain efficiency and responsiveness.

China’s consumer market boasts vast potential, backed by a population of over 1.4 billion, including more than 400 million middle-income earners, and a robust manufacturing base. The country produces more than 220 types of industrial goods at world-leading volumes and is the only nation to encompass all categories in the United Nations industrial classification system. 

As AI integrates more deeply into the economy, it will more effectively align China’s unmatched production capabilities with its enormous consumer base, unlocking new opportunities of growth and unleashing even greater consumption potential.

Tiny city, big impact: Arxan emerges as cross-cultural bridge

By Fan Wei, Jiang Bo, Wu Yong, Tian Liang

Tucked away in the northwestern corner of Xing’an league in north China’s Inner Mongolia autonomous region, Arxan ranks among China’s “tiniest city” by population – just 28,600 residents – yet exerts a disproportionate influence in tourism and cultural exchanges.

Once a remote border town, Arxan has transformed in recent years into a magnet for visitors drawn by pristine natural beauty and commitment to sustainable development. Its unique mix of volcanoes, crater lakes, vast forests, and thermal springs has earned it a reputation as a “healing destination,” especially among travelers from neighboring Mongolia.

For O Adiya, a Mongolian businessman and president of the chamber of commerce in Dornod, Mongolia, Arxan stands out among the many places he has visited in China. “The natural scenery is absolutely breathtaking. For many Mongolians, Arxan is an ideal travel destination,” he said.

Nestled on the southwestern slopes of the Greater Khingan Mountains, Arxan offers a rare convergence of forest and grassland civilizations. Visitors can hike through dense woods, stroll across sweeping grasslands, and marvel at dramatic rock formations and snow-covered peaks. In winter, naturally heated mineral springs with a variety of temperatures and therapeutic properties become especially popular.

“Every year, many Mongolian tourists enter through the Arxan border port,” said Tang Xin, deputy head of a border inspection team at the city’s immigration inspection station. Beyond shopping, most visitors seek the natural landscapes and therapeutic springs, Tang added. 

“September offers peak scenery – when the forests are ablaze with color, like nature’s very own palette,” he said.

Local businesses have seized the opportunity to tailor experiences to cross-border visitors. Fu Lihong, a local tourism service provider, has developed customized wellness packages featuring hot springs and traditional therapies. “Mongolians value traditional Mongolian medicine, which recognizes the health benefits of thermal springs and medicinal baths, ” Fu explained. “This drives Arxan’s geothermal resorts’ popularity.” 

To accommodate rising visitor numbers, the Arxan border port, once only open seasonally, for eight months a year, now operates year-round.

Arxan’s development is rooted in a larger transformation. Formerly a major timber industry hub, the city pivoted to ecological protection after China’s nationwide natural forest conservation program took effect. Today, with forest coverage above 80 percent and vegetation exceeding 95 percent, Arxan is both a biodiversity haven and a ecotourism model. Leveraging its robust green industries, Arxan is cultivating an outward-facing ecological culture.

The city’s lush forests also provide a safe haven for local wildlife. Winter visitors might spot Mongolian gazelles, red deer, and roe deer wandering along forest trails – just a few of the many wild animals thriving in the protected habitat.

Environmental cooperation has become a cornerstone of foreign exchanges between Xing’an league and neighboring Dornod. As Mongolia advances a campaign to plant 1 billion trees, the cold-resistant, high-survival-rate tree species native to the Greater Khingan Mountains – like spruce and larch – have emerged as ideal choices for reforestation.

“Building a greener homeland is a shared aspiration for China and Mongolia,” said Xiao Cuiyan, head of the foreign affairs office of Xing’an league. “The resilient trees of the Greater Khingan Mountains have become ‘envoys of friendship,’ representing both ecological hope and cultural bonds.” 

According to Xiao, the league is actively partnering with Mongolian partners to provide saplings and expertise, with the goal of planting these green seeds across the Mongolian steppe.

Located at the intersection of China, Mongolia, and Russia, Arxan has long served as a gateway for cultural exchanges. With a rich history of cross-border interaction, Xing’an league remains a fertile ground for people-to-people ties. In recent years, it has hosted a range of major events and cultural exchanges, including the China-Mongolia-Russia cultural and arts week, subregional basketball tournaments, and performances of Mongolian long songs.

“China, Russia, and Mongolia are close neighbors connected by mountains and rivers. We share a common future and long-standing friendships,” Xiao said. “Here in Xing’an, the most beautiful scenery lies not just in nature, but in the spirit of openness, inclusiveness, and harmony of the people.”

Tiny city, big impact: Arxan emerges as cross-cultural bridge

By Fan Wei, Jiang Bo, Wu Yong, Tian Liang

Tucked away in the northwestern corner of Xing’an league in north China’s Inner Mongolia autonomous region, Arxan ranks among China’s “tiniest city” by population – just 28,600 residents – yet exerts a disproportionate influence in tourism and cultural exchanges.

Once a remote border town, Arxan has transformed in recent years into a magnet for visitors drawn by pristine natural beauty and commitment to sustainable development. Its unique mix of volcanoes, crater lakes, vast forests, and thermal springs has earned it a reputation as a “healing destination,” especially among travelers from neighboring Mongolia.

For O Adiya, a Mongolian businessman and president of the chamber of commerce in Dornod, Mongolia, Arxan stands out among the many places he has visited in China. “The natural scenery is absolutely breathtaking. For many Mongolians, Arxan is an ideal travel destination,” he said.

Nestled on the southwestern slopes of the Greater Khingan Mountains, Arxan offers a rare convergence of forest and grassland civilizations. Visitors can hike through dense woods, stroll across sweeping grasslands, and marvel at dramatic rock formations and snow-covered peaks. In winter, naturally heated mineral springs with a variety of temperatures and therapeutic properties become especially popular.

“Every year, many Mongolian tourists enter through the Arxan border port,” said Tang Xin, deputy head of a border inspection team at the city’s immigration inspection station. Beyond shopping, most visitors seek the natural landscapes and therapeutic springs, Tang added. 

“September offers peak scenery – when the forests are ablaze with color, like nature’s very own palette,” he said.

Local businesses have seized the opportunity to tailor experiences to cross-border visitors. Fu Lihong, a local tourism service provider, has developed customized wellness packages featuring hot springs and traditional therapies. “Mongolians value traditional Mongolian medicine, which recognizes the health benefits of thermal springs and medicinal baths, ” Fu explained. “This drives Arxan’s geothermal resorts’ popularity.” 

To accommodate rising visitor numbers, the Arxan border port, once only open seasonally, for eight months a year, now operates year-round.

Arxan’s development is rooted in a larger transformation. Formerly a major timber industry hub, the city pivoted to ecological protection after China’s nationwide natural forest conservation program took effect. Today, with forest coverage above 80 percent and vegetation exceeding 95 percent, Arxan is both a biodiversity haven and a ecotourism model. Leveraging its robust green industries, Arxan is cultivating an outward-facing ecological culture.

The city’s lush forests also provide a safe haven for local wildlife. Winter visitors might spot Mongolian gazelles, red deer, and roe deer wandering along forest trails – just a few of the many wild animals thriving in the protected habitat.

Environmental cooperation has become a cornerstone of foreign exchanges between Xing’an league and neighboring Dornod. As Mongolia advances a campaign to plant 1 billion trees, the cold-resistant, high-survival-rate tree species native to the Greater Khingan Mountains – like spruce and larch – have emerged as ideal choices for reforestation.

“Building a greener homeland is a shared aspiration for China and Mongolia,” said Xiao Cuiyan, head of the foreign affairs office of Xing’an league. “The resilient trees of the Greater Khingan Mountains have become ‘envoys of friendship,’ representing both ecological hope and cultural bonds.” 

According to Xiao, the league is actively partnering with Mongolian partners to provide saplings and expertise, with the goal of planting these green seeds across the Mongolian steppe.

Located at the intersection of China, Mongolia, and Russia, Arxan has long served as a gateway for cultural exchanges. With a rich history of cross-border interaction, Xing’an league remains a fertile ground for people-to-people ties. In recent years, it has hosted a range of major events and cultural exchanges, including the China-Mongolia-Russia cultural and arts week, subregional basketball tournaments, and performances of Mongolian long songs.

“China, Russia, and Mongolia are close neighbors connected by mountains and rivers. We share a common future and long-standing friendships,” Xiao said. “Here in Xing’an, the most beautiful scenery lies not just in nature, but in the spirit of openness, inclusiveness, and harmony of the people.”

AIIB sets new model for international multilateral cooperation

By He Yin, People’s Daily

The 10th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) Board of Governors was held in Beijing from June 24 to 26. Over the past decade, the AIIB has navigated mounting global development challenges with a steadfast commitment to enhancing infrastructure connectivity, advancing open cooperation, and upholding multilateralism. Its development offers a distinct paradigm for international financial cooperation and sustainable development, both within the region and globally.

Building on the momentum of this meeting, the AIIB has articulated its strategic priorities for the next phase of development. It will work to consolidate consensus among its members, injecting new vitality into global development, and fostering greater openness and collaboration in a world fraught with uncertainty and changes.

When the AIIB was launched, Chinese President Xi Jinping proposed making it a new type of professional, efficient, and clean multilateral development bank. Throughout its first decade, the AIIB has maintained international, rule-based, and high-standard operations, and embarked on a trajectory with a high starting point, high-quality development, and high-level cooperation, setting a new standard in global financial governance. 

Founded in 2015, AIIB has grown from 57 founding members to 110 across six continents, covering 81 percent of the world’s population and 65 percent of global GDP. It has approved over $60 billion in financing for 320 projects, leveraging more than $200 billion in infrastructure investment, benefiting 38 member economies within and beyond Asia. 

On the capital markets side, it had issued over $54 billion equivalent bonds in multiple currencies as of the end of May, and has consistently maintained triple-A credit ratings from Moody’s, S&P, and Fitch. Moody’s, for instance, credited the bank’s top rating to its strong financial footing, well-performing assets, and ample liquidity.

These impressive achievements stem from the bank’s unwavering commitment to multilateralism, adherence to international rules, and dedication to high operational standards. Robert Zoellick, former president of the World Bank, once noted that the AIIB has set a good example in the world in terms of governance, transparency, international standards, and cooperation.

According to the AIIB’s latest partnership report, over 131 of its more than 300 projects have been co-financed with other multilateral development banks, highlighting its open and collaborative approach and its growing role in promoting multilateral cooperation. 

The AIIB has renewed memoranda of understanding with major institutions such as the World Bank, Asian Development Bank, and Islamic Development Bank. Actively engaged in G20 mechanisms, it contributs substantive perspectives to global financial governance. Its engagement with regional organizations, including participation in ASEAN summits, also reinforces its commitment to fostering regional connectivity networks.

Amid persistent global infrastructure gaps, the AIIB’s commitment to the principle of “extensive consultation and joint contribution for shared benefit” is increasingly relevant in mobilizing development resources and minimizing duplicative investments.

Despite global economic headwinds and shifting dynamics in international trade, the AIIB remains project-driven and development-oriented, responding to the urgent needs of its members, especially developing countries. 

In Egypt, the Abu Qir Metro Line in Alexandria eases congestion and curbs emissions, benefiting tens of thousands of commuters. In Uzbekistan, the Bukhara Region Water Supply and Sanitation Phase II project strengthens the local water supply system and enhances public health. In the Maldives, solar power and battery storage projects drive a green energy transformation. These tangible results have translated multilateral development cooperation into concrete local benefits.

As a founding member, major shareholder, headquarters host country, and development partner of the AIIB, China has consistently supported the bank’s growth. It has worked with the bank to implement a number of high-quality projects and shared development experience with fellow members, and contributed to the AIIB’s Project Preparation Special Fund and Concessional Financing Fund to support low-income members. 

Looking forward, China calls for the AIIB to strengthen its capacity-building efforts, broadening international dialogue and cooperation, and better fulfilling its mission as a new type of multilateral platform. At a critical juncture in global development cooperation, the AIIB is well-positioned to make greater contributions. China is ready to work with all partners to support the bank’s continued progress and contribute even more to infrastructure connectivity, sustainable development, and the building of a community with a shared future for mankind.