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China strength for high-quality growth as nation vows development of new quality productive forces

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China’s annual Two Sessions, the second session of the 14th National People’s Congress (NPC) and the second session of the 14th Chinese People’s Political Consultative Conference (CPPCC) National Committee, kicked off in Beijing earlier this week. The important political season highlights new missions for steadily boosting high-quality development in a bid to build the country into a great modern socialist country while injecting new impetus into global growth.

This year marks the 75th anniversary of the founding of the People’s Republic of China and is a key year for achieving the goals outlined in the nation’s 14th Five-Year Plan (2021-25). In this pivotal year of comprehensively deepening reform, analysts, deputies and members attending the Two Sessions expect major measures to further promote high-quality development and advance Chinese modernization to be announced at the key political event.

Observers believe that China’s high-quality development in 2024 and in the medium- to long-term will be driven by new quality productive forces such as artificial intelligence (AI), the digital economy and other innovation industries. With continuous improvement in the overall economic structure, the Chinese economy will remain a promising destination for foreign investment and a major engine driving global growth.

New quality productive forces

At the 11th group study session of the Political Bureau of the Communist Party of China (CPC) Central Committee held on January 31, 2024, Xi Jinping, general secretary of the CPC Central Committee, said that developing new quality productive forces is an endogenous requirement and a pivot for high-quality development.

Sci-tech innovation has become an important driving force for China’s development. Recently, the term “new quality productive force” has become a key word for central and local governments in their arrangement of economic work, and is also an area that national legislators and political advisors are expected to provide suggestions for during the ongoing two sessions.

“New quality productive forces represent advanced productivity and is an important direction of China’s development. The vigorous development of new quality productive forces will eventually help achieve high-quality development in China,” Yu Miaojie, president of Liaoning University and a deputy to the 14th National People’s Congress (NPC), told the Global Times on Monday.

In order to boost the development of new quality productive forces, China should further increase investment in original innovations and basic research, Yu said. In 2022, the country’s investment in basic research accounted for 6.57 percent of the total research and development (R&D) spending, and the share should further climb to 7 percent or even 10 percent by the end of 14th Five-Year Plan period (in 2025), he said.

The development of new quality productive forces is currently picking up speed in China. Along with advances in the new technological revolution and industrial transformation, data, computing power and AI have become new drivers of the forces.

Yang Jie, chairman of China Mobile and a member of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), suggested that the country boost the “AI+” campaign at the national level by strengthening top-level design and clarifying development goals and key tasks, in order to give full play to the huge potential of AI in achieving leapfrog development of technologies, industrial upgrade and productivity.

Comprised of AI and the manufacturing sector, smart manufacturing is an important part of new quality productive forces. However, China’s smart manufacturing faces three major problems: Supply capability needs to be strengthened, application needs to be promoted and a standard system needs to be established, said Zhong Zheng, an NPC deputy and vice president of the Midea Group.

She suggested that the country support leading companies in various industries to take the lead in developing industry solutions so as to help more companies set up world-leading smart factories that contribute to sustained development.

While new quality productive forces are important to the world’s second-largest economy, private enterprises also need to earnestly enhance their own productivity and boost transformation surrounding sci-tech innovations, Wang Junjin, a member of the 14th National Committee of the CPPCC and chairman of Shanghai Junyao (Group) Co, told the Global Times on Monday.

Wang said that efforts should also be made to inject momentum into the country’s burgeoning consumption sector, for example by building new business models and new spending scenarios in order to drive the high-quality development of China’s economy.

Vibrant economy

China’s economy grew by 5.2 percent year-on-year in 2023, contributing to more than 30 percent of the world’s economic growth. More importantly, steady progress was made in pursuing high-quality development last year, with consumption playing a larger part in driving growth, tech innovations making breakthroughs and new momentum accumulating.

The Chinese economy kicked off 2024 with a robust display of economic resilience and vitality. For example, China saw 474 million domestic tourist trips during the eight-day Spring Festival holidays that ended on February 17, up 34.3 percent year-on-year. China’s box office revenue during the same holiday season reached 8 billion yuan ($1.1 billion), setting a new record for the period.

“Overall, China’s development is seeing more favorable conditions than unfavorable ones, and the overall trend of China’s economic recovery and long-term improvement remains unchanged. We have plenty of confidence in that,” Lou Qinjian, spokesperson for the second session of the 14th NPC, said at a press conference on Monday, one day ahead of the opening of its annual session.

It is widely expected that policymakers will set a GDP target of around 5 percent for 2024 in the Government Work Report to be delivered by Chinese Premier Li Qiang on Tuesday, which will greatly boost market confidence and gather strength for the high-quality development of the economy.

The two sessions are a timely and clear response to certain pessimistic voices on the Chinese economy, mainly from Western countries, Han Baojiang, a member of the 14th National Committee of the CPPCC, told the Global Times.

“Chinese policymakers are sober and their approach to economic development – as shown by the Central Economic Work Conference and the Government Work Report set to be delivered on Tuesday – is very clear,” Han said. “To put it simply, improving our economy, enhancing people’s livelihoods, and ensuring stable employment may be the most effective way to deal with all those challenges.”

Foreign chambers of commerce and companies operating in China have also shown confidence in the prospects of the Chinese economy, eyeing greater opportunities from Chinese modernization.

“China remains an important market for our member companies,” Juha Tuominen, chairman of FinnCham Beijing, told the Global Times, saying that the chamber’s latest surveys showed that Finnish companies are positive about Chinese market potential.

Although the Chinese economy faces challenges such as weak consumption, a property market downturn and weak export momentum, the Chinese government has drawn up the appropriate policies. It’s hoped that there will be an improvement after this year’s two sessions, and Panasonic will strengthen local operations to deal with market changes, Tetsuro Homma, executive vice president of Panasonic Corporation, told the Global Times.

“China is the most important technology and supply chain base for Panasonic… We will closely follow topics such as healthcare, smart manufacturing and green development during the two sessions and are seeking opportunities in other key areas as well,” Homma said.

Source(s): CGTN

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President Xi: progress in China-Russia ties attributable to five principles

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Chinese President Xi Jinping said on Thursday that the progress in China-Russia relations is attributable to the two countries’ commitment to the five principles of mutual respect, win-win cooperation, lasting friendship, strategic coordination, and fairness and justice.

President Xi made the remarks during a joint press conference with Russian President Vladimir Putin, following their talks at the Great Hall of the People in Beijing.

Describing the talks as “sincere and cordial,” Xi said they had a comprehensive review of the successful experience in developing the China-Russia relationship over the past 75 years since establishing diplomatic ties.

The China-Russia relationship has become a prime example of a new form of international relations as well as good-neighborly relations between two major countries, Xi told reporters.

Non-alliance, non-confrontation, not targeting any third party

President Xi said China and Russia are committed to mutual respect as the fundamental principle of relations and always render support for each other’s core interests.

Xi said he and Putin agree that the key to the two countries finding a new path to growing relations between major and neighboring countries lies in mutual respect and equality, as well as steadfast mutual support on issues concerning each other’s core interests and major concerns.

“This is central to the China-Russia comprehensive strategic partnership of coordination for the new era,” he said.

The two sides will uphold the principles of non-alliance, non-confrontation and not targeting any third party, Xi added.

China and Russia will continue to deepen two-way political trust, respect each other’s choice of development path, and realize development and revitalization with each other’s firm support, he said.

Win-win cooperation

China and Russia are committed to win-win cooperation as the driving force of relations and work to foster a new paradigm of mutual benefit, Xi said.

Last year, the two-way trade exceeded $240 billion, close to 2.7 times that of a decade ago, he noted. “This is a good indication of the all-round cooperation of mutual benefit that continues to deepen between the two countries.”

Xi stressed that he and Putin agree that the two countries need to look for areas where their interests converge, tap into their comparative strengths, deepen the integration of interests and enable each other’s success.

The two countries need to make further structural improvements to their cooperation, consolidate the good momentum in trade and other traditional areas of cooperation, support the formation of platforms and networks for basic research, continue to unlock cooperation potential in frontier areas, step up cooperation on ports, transportation and logistics, and help keep the global industrial and supply chains stable, he said.

People-to-people and cultural exchanges

President Xi said that China and Russia are committed to lasting friendship as the foundation of relations and carry forward the torch of Sino-Russian friendship.

Both China and Russia have a long history and a splendid culture, he said.

“The works of Pushkin and Tolstoy are household names in China, and Peking Opera and tai chi are much loved by the Russian people,” said Xi.

By focusing on implementing the Roadmap for China-Russia Cooperation on People-to-People and Cultural Exchanges Before 2030, the two countries are expanding people-to-people and cultural ties, he said.

Xi and Putin have also set 2024 and 2025 as China-Russia Years of Culture.

The two sides have proposed a series of cultural activities that are down to earth, close to people’s hearts and popular among them, and encouraged closer interactions between various sectors and at subnational levels, so as to enhance mutual understanding and affinity between the two peoples, Xi said.

Multipolarity and multilateralism

China and Russia are committed to strategic coordination as an underpinning of relations and steering global governance in the right direction, President Xi stressed.

The two countries are firmly committed to safeguarding the UN-centered international system and the international order underpinned by international law, he said.

Xi said China and Russia should stay in close coordination and collaboration on multilateral platforms such as the UN, APEC and G20, and advance multipolarity and economic globalization in the spirit of true multilateralism.

With Russia chairing BRICS this year and China taking over the chairmanship of the Shanghai Cooperation Organization later this year, the two sides will support each other’s chairmanship, build a high-quality partnership that is more comprehensive, close, practical and inclusive, and build the unity and strength of the Global South, he said.

Dedication to political settlement of hotspots

President Xi said China and Russia are committed to fairness and justice as the purpose of relations and dedicated to the political settlement of hotspots.

The Cold War mentality still exists, and unilateralism, hegemonism, bloc confrontation and power politics threaten world peace and the security of all countries, he said.

The two presidents are of the view that it is urgent to solve the Palestine-Israel conflict, he noted.

The UN resolutions must be earnestly implemented, and the question of Palestine must be solved on the basis of the two-state solution, said Xi.

The two sides believe that a political settlement is the right way forward for the Ukraine crisis.

China’s position on the issue is consistent and clear, including observing the purposes and principles of the UN Charter, respecting the sovereignty and territorial integrity of all countries, respecting the legitimate security concerns of all parties, and building a new security architecture that is balanced, effective and sustainable, Xi said.

“China hopes that peace and stability will return to the European continent at an early date and stands ready to play a constructive role to this end,” he said.

On Thursday, the Chinese and Russian presidents also signed and issued the Joint Statement of the People’s Republic of China and the Russian Federation on Deepening the Comprehensive Strategic Partnership of Coordination for the New Era in the Context of the 75th Anniversary of China-Russia Diplomatic Relations.

The leaders also witnessed the signing of a number of intergovernmental and interagency cooperation documents.

Source(s): CGTN

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President Xi: relations with Russia have been moving forward steadily

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Chinese President Xi Jinping on Thursday hailed relations with Russia as the two countries celebrate 75 years of diplomatic ties.

With the concerted efforts of the two sides, China-Russia relations have been moving forward steadily, with enhanced comprehensive strategic coordination and further cooperation on economy and trade, investment, energy and people-to-people exchanges, at the subnational level and in other fields, President Xi said when meeting with Russian President Vladimir Putin during large-group talks at the Great Hall of the People in Beijing.

Xi pointed out that Putin’s trip to China is his first foreign visit since he began his new term as Russian president, fully demonstrating the great importance Putin and the Russian government attach to developing China-Russia relations. China highly appreciates this, the Chinese president said.

Xi said China is advancing Chinese modernization on all fronts and moving faster to foster new quality productive forces through high-quality development, which will add new drivers to global economic growth.

Both China and Russia are permanent members of the UN Security Council and major emerging markets, Xi noted. It is the shared strategic choice of both countries to deepen strategic coordination, expand mutually beneficial cooperation and follow the general historical trend of multipolarity in the world and economic globalization, Xi told his Russian counterpart.

Xi said he believes the two sides should take the 75th anniversary of diplomatic ties as a new starting point, further synergize development strategies and continue to enrich bilateral cooperation, to bring greater benefits to the two countries and their people.

The Chinese president also expressed his readiness to work with Putin to jointly steer the future direction of bilateral relations and make new plans for cooperation between the two countries in various fields.

Source(s)L CGTN

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Palestinians mark 76th anniversary of Nakba amid ongoing conflict with Israel

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As the Israel-Palestine conflict entered its 222nd day on Wednesday, Palestinians marked the 76th anniversary of Nakba (Arabic for catastrophe), the exodus of Palestinians after the establishment of the state of Israel in 1948.

In the West Bank city of Ramallah, thousands of Palestinians gathered to commemorate the Palestinian victims of 76 years ago and protest against the ongoing Israeli attacks on Gaza that have killed more than 35,000 Palestinians in the enclave.

Protesters waved Palestinian flags, held portraits of Palestinians who were expelled from their homes in 1948, displayed pictures of refugee camps in the Gaza Strip, and carried banners bearing slogans including “The Nakba is recurring in Gaza now.”

Several Palestinian faction leaders and members of the Executive Committees of the Palestine Liberation Organization (PLO) and the Central Committee of the Palestinian National Liberation Movement (Fatah) also attended the rally in Ramallah.

The Palestinian death toll from the ongoing Israeli attacks on the Gaza Strip has risen to 35,233, health authorities in the Palestinian enclave said in a press statement on Wednesday.

Mahmoud Al-Aloul, a senior Fatah official, said more than 1.9 million Palestinians in Gaza have been forced to leave their homes since the outbreak of the ongoing conflict, labeling it a “perhaps far more severe Nakba” compared to that of 1948.

He also accused the U.S. administration of being complicit in Israel’s “crimes” in Gaza as it supplied weapons to Israel and vetoed UN resolutions that called for a ceasefire and a full UN membership for Palestine.

For his part, Ahmed Abu Holi, the head of the refugee affairs department of the PLO, stressed the essential role of the UN Relief and Works Agency for Palestine Refugees (UNRWA) and denounced the U.S. and the West at large for suspending UNRWA funding.

In January, Israeli officials claimed that UNRWA personnel took part in the October 7 Hamas attack, which set off the current conflict in Gaza. The allegations remain unverified but prompted the U.S. and many other Western donors to halt the agency’s funding.

Australia, Canada, Germany and several other countries have resumed their funding, whereas the U.S. and Britain continue to hold back their funds.

“Our people need the UNRWA to continue its work in the Gaza Strip because it is the only institution capable of working there,” Abu Holi told Xinhua.

In Gaza, locals said there is no need to mark the Nakba anniversary because they are already living in one.

Mohammed al-Maqadma, a 58-year-old resident of Jabalia refugee camp, said that his parents, survivors of the Nakba 76 years ago, were killed in the recent Israeli strikes on Gaza.

“For the rest of their lives, my parents could not stop talking about their ordeal during Nakba. Now, for how many years will I speak about the new Nakba to our next generations?” al-Maqadma lamented.

Post-war plan

Israeli Defense Minister Yoav Gallant said on Wednesday that he would oppose the establishment of Israel’s rule in the post-war Gaza Strip.

Speaking in a televised press briefing, Gallant urged Israeli Prime Minister Benjamin Netanyahu to make a decision and declare that Israel will not establish civilian or military control over the Gaza Strip, adding that a governing alternative to Hamas, the Islamist Palestinian resistance movement that runs the enclave, must be named by Netanyahu “immediately.”

Gallant said that soon after the beginning of the Israeli conflict with Hamas in October last year, he had tried to promote a plan for a new Palestinian administration unaffiliated with Hamas but “received no response” in cabinet meetings.

In response, Netanyahu said in a statement that “as long as Hamas remains, no other party will run Gaza, certainly not the Palestinian Authority.” He did not address the issue of a possible Israeli rule in the Palestinian enclave.

Source(s): CGTN

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