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BEIJING, Dec. 11, 2024 /PRNewswire/ -- Heads of major international economic organizations hailed China's remarkable economic achievements and expressed confidence that China will remain a global growth engine as they gathered in Beijing for the "1+10" dialogue. Chinese President Xi Jinping met with them on Tuesday, reaffirming China's economic confidence and pledging to expand openness to provide more development opportunities for the world. The biggest engine of world economic growth Xi, also general secretary of the Communist Party of China (CPC) Central Committee, highlighted China's economic achievements, saying after more than 40 years of sustained and rapid development, the Chinese economy has ushered in a phase of high-quality development, contributing around 30 percent to the world economic growth. Xi said China has complete confidence in achieving this year's economic growth target and will continue to play its role as the biggest engine of world economic growth. A World Bank report in 2022 revealed that from 2013 to 2021, China accounted for an average of 38.6 percent of global economic growth, surpassing the combined contribution of the G7 countries, making it the leading driver of global economic growth. According to the National Bureau of Statistics in October, China's GDP in the first three quarters of 2024 reached 94.97 trillion yuan (about $13.09 trillion), reflecting a 4.8 percent year-on-year growth at constant prices. Xi pledged that China will further open up to the outside world, proactively align with high-standard international economic and trade rules, and build a market-oriented, law-based and internationalized business environment to boost global economic growth. He also noted the significant progress in the Belt and Road Initiative (BRI) over the past decade, saying that the initiative builds a bridge for shared development between China and the world. Xi welcomed international economic organizations to participate in the BRI to promote the modernization of all countries. So far, China has signed BRI cooperation documents with over 150 countries and over 30 international organizations. Data from the Ministry of Commerce showed that by the end of 2023, Chinese companies had established 17,000 overseas enterprises in countries participating in the BRI, with direct investment stock exceeding $330 billion, while the overseas economic and trade cooperation zones built under the initiative had created 530,000 local jobs. Building an open and fair global economic system During Tuesday's meeting, Xi underscored the major challenges facing the international community, firmly objected to decoupling and protectionism, and emphasized the importance of global cooperation in building an open global economic system. He called on countries to prioritize innovation, seize opportunities in areas such as the digital economy, artificial intelligence, and low-carbon technologies, and support the cross-border flow of knowledge, technology, and talent to create new drivers of economic growth. He strongly opposed approaches like building "small courtyards with high walls" and "decoupling and severing supply chains," saying it would harm oneself and others. As global trade faces headwinds from protectionism and geopolitical tensions, China has continuously expanded its opening-up policies, making significant strides in further integrating its economy with the global market. One of the key measures was the implementation of the new Foreign Investment Law in 2020. The law enhances intellectual property rights protection, ensures a level playing field for foreign enterprises, and promotes a more transparent and fair business environment. Additionally, in recent years, the country has drastically relaxed foreign capital restrictions in the financial services industry, allowing greater foreign participation in banking, securities, insurance, and asset management sectors. China has also completely lifted foreign investment restrictions in the manufacturing sector and launched pilot projects in the telecommunications and healthcare industries to expand foreign investment opportunities, signaling China's determination to build a more open, inclusive, and equal global economy. Discussing the importance of building an open global economy, Xi addressed China-U.S. relations. He said China is willing to maintain dialogue, expand cooperation, and manage differences with the U.S. government, expressing hope for the steady, healthy, and sustainable development of bilateral ties. "Tariff wars, trade wars, and sci-tech wars go against the trend of history and the laws of economics, and there will be no winners," he said. For more information, please click:https://news.cgtn.com/news/2024-12-10/China-reaffirms-confidence-vows-to-remain-global-growth-engine-1zdYcO2rHCo/p.html
BEIJING, Dec. 11, 2024 /PRNewswire/ -- On December 20, Macao will celebrate the 25th anniversary of its return to the motherland. Over the past 25 years, Macao's economy has grown rapidly, people's livelihoods have continuously improved, social harmony and stability have been maintained, and the scope for development has become increasingly broad. Macao Special Administrative Region (SAR) Chief Executive Ho Iat Seng recently shared in an interview how Macao maintains stability and development under the framework of "one country, two systems," as well as how it interprets the strong vitality of this principle. Ho told the Global Times and other media that integrating into the national development strategy is essential for Macao. Macao actively supports the national development agenda and promotes deep cooperation with the mainland in various aspects, including economy, culture and society. The moderate diversification of the economy is accelerating, and Macao's international metropolitan "golden business card" shines brightly. Ho introduced the significant progress having been made in Macao in promoting cultural tourism, technological innovation, and the convention and exhibition industry during his tenure to the Global Times and other media. Ho stated that although many people believe that Macao's GDP primarily comes from the gaming industry, in reality, by 2023, gaming revenue has recovered to about 75 percent of the 2019 levels, but its share in GDP is only 37.2 percent, which is slightly above one-third. The proportion of key industries in moderately diversified economic development is gradually increasing, and Macao's economic structure is becoming more diversified and robust. For Macao, it is no longer a city dominated by the gaming industry. Macao's goal is to increase the share of non-gaming value-added to about 60 percent by 2028, said Ho. Macao is a small city, and due to historical reasons, its economy has remained primarily focused on the gaming industry since its return to the motherland, said Ho. However, with the changes of the times, we realize the need to promote a moderately diversified economy to meet future challenges, said the chief executive. He added that since taking office his government has prudently handled the revision of Macao's gaming laws and the new round of gaming concession bidding, implementing stricter regulations on the gaming industry and clearly defining the direction for the development of non-gaming sectors. Especially in the face of uncertainties such as the pandemic, a single economic structure is vulnerable to risks, which is why Macao is actively promoting the development of non-gaming industries, said Ho. In the past 25 years, the "tourism plus" integrated industry in Macao has developed rapidly. Ho introduced that in terms of tourism, Macao is committed to showcasing the city's unique charm, including the blend of Chinese and Western cultures, as well as its rich snacks and cuisine. Macao is actively working to become a cultural capital, promoting the development of the performing arts industry and achieving significant results. The increase in ticket sales has not only boosted the prosperity of the performing arts sector but also stimulated the growth of related industries such as retail, dining and accommodation. In the past two years, Macao's performing arts scene has thrived, attracting many international artists who enjoy performing in the city, according to Ho. The only drawback is that there are limited number of venues in Macao, with the best indoor arena accommodating 16,000 people, Ho told reporters. The Macao SAR government has passed a plan in the Legislative Assembly to build an outdoor venue that can accommodate 50,000 to 80,000 people, which is expected to be completed by the end of the year and planned to be operational next year, in order to meet the demands of large-scale events such as concerts by international superstars. Under the framework of "one country, two systems," Macao has maintained stability and development, demonstrating the strong vitality of this principle. Ho stated in an interview with media outlets such as the Global Times that during the first three years of governance, despite the impact of the COVID-19 pandemic, work on the economy and people's livelihoods were not halted. The SAR government took this opportunity to vigorously promote infrastructure construction, addressing some past shortcomings. For example, the Macao Medical Center of Peking Union Medical College Hospital was built over a period of more than three years, with a total area of 430,000 square meters, including its construction, decoration, and equipment setup, which has enhanced the level of medical services in Macao. New buildings for the Public Security Police Force headquarters and Customs headquarters were also constructed, and efforts were made to strengthen connectivity with Hengqin and other areas to prepare for the smooth flow of customs in Macao. The successive governments of Macao have maintained a good fiscal reserve, which provides strong support for infrastructure construction and social welfare projects. By utilizing these reserve funds to vigorously promote infrastructure development and social welfare initiatives, the quality of life and happiness of citizens have been improved. Ho stated that in terms of housing, the SAR government has been actively providing affordable housing and social housing to those in need. It has also implemented free medical and educational policies to enhance the living standards of residents. This has been the approach of successive SAR governments. After five years of effort, despite significant expenditures on infrastructure and social welfare, the current SAR government still has a considerable amount of fiscal surplus to hand over to the next SAR government, and it has no internal or external debt, has not issued any bonds, and owes no payments to construction companies for infrastructure projects. The financial situation of the SAR government is very sound, which also creates important conditions for the long-term stability of "one country, two systems" in Macao, Ho underscored. During Ho's term, Macao actively maintained the national development framework and promoted deep cooperation with the mainland in various aspects, including economy, culture and society. In May 2021, the Working Committee for Integrating into National Development was established in Macao. When introducing the background, main functions and practical effects of this committee's establishment, Ho told media including the Global Times that "The establishment of the committee is primarily based on two major directions, and integrating into the national development framework is something Macao must do." Ho noted that the first major direction is that Macao, as an important node of the Maritime Silk Road, plays a significant role in the joint construction of the Belt and Road Initiative (BRI). In order to better integrate and promote the construction of the BRI, the SAR government has established a dedicated team responsible for liaising and following up with countries along the Maritime Silk Road, as well as important nodes such as Fujian, and to promote the implementation of relevant cooperation projects. The second major direction is that, with the promulgation of the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, how Macao can better integrate into this framework has become an important task for the SAR government. To this end, the Working Committee for Integrating into National Development has been established, aiming to promote in-depth cooperation between the mainland and Macao in various aspects such as economy, culture and society. Ho introduced that the Working Committee for Integrating into National Development has played a positive role in promoting cooperation between the mainland and Macao since its establishment. The mainland and Macao have engaged in extensive cooperation in various fields, including the establishment of an investment zone in Guangdong-Macao in-depth cooperation zone in Hengqin. This cooperation has not only facilitated economic exchanges between the mainland and Macao but also deepened cultural and social ties between the two sides. Ho stated that after more than three years of efforts, significant achievements have been made, laying a foundation for future development.
HANGZHOU, China, Dec. 11, 2024 /PRNewswire/ -- On the UNESCO world heritage map for five years, China's archaeological ruins of Liangzhu, in parallel with the Aegean Civilization in Greece, has gained growing international recognition with the progress of archaeological research and cultural exchanges.  China Matters’ Feature: Archaeologists on Universal Parallels between Civilizations Under the theme of "exchanges and mutual learning for a new model of human progress," the Second Liangzhu Forum, held from November 11 to 13 in Hangzhou, Zhejiang Province, brought together over 300 participants from more than 60 countries and regions, including cultural officials, diplomats, archaeologists, writers, and musicians, to explore the profound cultural and historical significance of Liangzhu. This video features a compelling dialogue between two archaeologists, Professor Minoru Yoneda from the University of Tokyo and Patricia Ledesma Bouchan, Director of Museo del Templo Mayor in Mexico City. Together, they explore the shared themes of ancient civilizations, including urbanization, cultural exchange, and the significance of artifacts like jade, while drawing parallels between Liangzhu and other early civilizations such as the Aztec and Mesopotamian cultures. Their discussion highlights the universal questions of human development and the interdisciplinary potential of archaeology in bridging global cultural connections. Join this thought-provoking dialogue, curated by China Matters, to uncover the remarkable similarities that transcend time and borders among ancient civilizations. Watch now and be inspired by this journey through history! https://youtu.be/xJv64XrOed4
BEIJING, Dec. 11, 2024 /PRNewswire/ -- Wearing a kind of traditional Chinese robe emerging in the Ming Dynasty (1368-1644), renowned lyricist Vincent Fang Wenshan, who has been best known for his works often treated as poetry of artistic merit, sat at a teahouse in the ancient Xitang water town and whole-heartedly experienced the process of whisking tea in the Song Dynasty (960-1279). Surrounded by more traditional Chinese cultural elements, including clothing, tea and calligraphy, thousands of visitors, along with Fang, were immersed into the atmosphere at the Hanfu cultural festival. On the scene, a string of well-known songs featuring Chinese-style lyrics created by Fang resonating with visitors brought the atmosphere to a climax. Cultural influence "The deep blue and pearl white glow like porcelain"; "Wishing for the wheel of history rolling back, till the time when the wine is still mellow, when I can still anticipate your guzheng solo." Such lyrics in Fang's creation, inspired and nourished by ancient Chinese poetry, are featured in a string of Chinese-style pop songs performed by well-known Taiwan singer Jay Chou. These lyrics have inspired audiences across the Taiwan Straits and other regions influenced by Chinese culture, becoming a core part of their cultural memories. In 2000, Chou began his singing career. Since then, Fang has penned the lyrics for more than half of Chou's albums, earning numerous awards for his exceptional songwriting. His contributions have played a significant role in popularizing Chinese-style pop music. Fang's ability to craft intricate narratives filled with rich imagery and emotional depth truly sets him apart in the music industry. Fang's deft use of traditional Chinese motifs and contemporary themes reflects a unique blend of cultural heritage and modernity, resonating deeply with audiences. Fang's experience has also inspired a new generation of artists who are eager to explore the beauty of the Chinese language and emotions in their works. Now, Fang is not content to express the beauty of Chinese culture solely through lyrics and music. In an exclusive interview, the artist told the Global Times that he has been trying to take a broader approach to promote various traditional cultural elements, which is the foundation and nutrition of his creation, by launching Hanfu cultural festivals, experiencing tea culture, and promoting calligraphy art. "In my quest to delve deeper into traditional Chinese culture, I felt a strong sense of mission to promote its rich essence and share its beauty with a wider audience," Fang told the Global Times. In Fang's successful experience, a pop song can bring ancient cultural heritage, such as porcelain, into the public eye. Therefore, various forms of popular culture - including drama, music, and film - can serve as powerful tools for revitalizing traditional culture, Fang noted. Shared root In recent years, Fang has hosted Hanfu cultural festival for 12 consecutive years in the mainland as the initiator. The 2024 Xitang Hanfu Culture Week featured highlights such as Hanfu parades, garden fairs, situational dramas, and intangible cultural heritage lantern shows. As the lanterns illuminated the evening, Hanfu enthusiasts around the world wandered through the enchanting streets. Gazing skyward, around 1,000 drones ascend into the twilight, orchestrating a series of mesmerizing light shows that weave together elements of Hanfu culture. "What a person creates stems from his or her values. I have created a number of lyrics colored by Chinese style as I am deeply fond of the essences of traditional culture. The strong recognition of cultural identity is also an important engine for me to promote the Hanfu culture through the event," Fang shared his driving force to insist on revitalizing traditions with the Global Times. Fang has often stated that the essence of traditional Chinese culture serves as the foundation and nourishment for his creative work. The artist skillfully blends the beauty of classical literature - particularly Song Dynasty poetry - with modern pop culture. During his school years in Taiwan island, Fang immersed himself in traditional Chinese culture through textbooks and frequently visited bookstores to read ancient poems. This accumulation of knowledge set him on a long musical journey, enabling his Chinese-style lyrics to go viral on both sides of the Straits. "No one told me that you have to walk along this way in your career, but I love the cultural atmosphere so I naturally found the direction," said Fang. Diverse channels Fang feels a deep sense of responsibility when it comes to traditional culture. He is dedicated to promoting it and helping more people appreciate its beauty. Driven by this mission, he has been exploring various avenues beyond music to further his cause. Fang's next goal, following his promotion of Hanfu culture, is to showcase the beauty of Chinese calligraphy. In his view, Chinese characters are not just a means of communication but a unique form of art that deserves appreciation, setting them apart from other languages. "We should make the art form interact with people's life in the modern society, so as to bring these cultural heritages back to the public. For example, I believe a high-quality drama or film that showcases the beauty of calligraphy could attract younger audiences and inspire them to engage more willingly with this art," Fang noted. For many years, whether crafting lyrics in a Chinese style or venturing into cross-disciplinary arts, Fang has sought to popularize traditional culture. He is determined to continue this journey.
TOKYO, Dec. 11, 2024 /PRNewswire/ -- The 20th Beijing-Tokyo Forum kicked off in Tokyo on Wednesday, drawing over 400 participants from the political, economic, business, academic and media sectors of both countries. The 20th Beijing-Tokyo Forum opens in Tokyo, Dec. 4, 2024. [Photo/CICG] Co-hosted by China International Communications Group (CICG) and Japan's Genron NPO, with support from China's State Council Information Office and Japan's Ministry of Foreign Affairs, this year's forum is themed "Restoring Peace and Rebuilding a Global Order Based on Multilateral Cooperation Through China-Japan Partnership." The event provides a platform to discuss key topics such as fostering multilateral collaboration, maintaining peace and stability, enhancing political trust, deepening economic ties, advancing digital governance, promoting cultural exchanges, and strengthening youth interactions. In a video address at the opening ceremony, Wang Yi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the Office of the Central Commission for Foreign Affairs, praised the forum for its role over the past 20 years in advancing China-Japan relations. He said that the over 2,000 years of interaction between China and Japan, along with more than 50 years of normalized diplomatic ties, have consistently demonstrated that a relationship steered in the right direction benefits both nations, the region, and global peace and development. Mo Gaoyi, deputy head of the Publicity Department of the CPC Central Committee and director of the State Council Information Office, noted in his keynote speech that the recent meeting between the leaders of China and Japan underscored their shared commitment to advancing the strategic and mutually beneficial relationship between the two nations. Mo expressed his hope that both sides would earnestly implement the consensus reached by the leaders, enhance interactions at all levels, strengthen mutual trust, deepen cooperation and work together to ensure the steady and long-term progress of China-Japan relations. Japanese Foreign Minister Takeshi Iwaya highlighted the Beijing-Tokyo Forum's long-standing role as a vital platform for bringing together visionary individuals from both countries to exchange ideas and collaborate. Reflecting on the past 20 years, he acknowledged that as neighboring countries, China and Japan have inevitably faced challenges and difficult periods. However, he commended the persistence and dedication of forward-thinking individuals on both sides in advancing bilateral relations despite these obstacles. On behalf of the Chinese co-organizers, CICG president Du Zhanyuan said that this year marks the 20th anniversary of the Beijing-Tokyo Forum, a significant milestone. Over the past two decades, the forum has demonstrated that as long as both sides remain committed to people-to-people exchanges, candid dialogue, trust-building and consensus-forming, relations between China and Japan can stay on a path of healthy and stable development, leading to an even brighter future. Looking to the next decade, Du emphasized that the forum should evolve with the times by broadening its agenda and enhancing its strategic vision. It is essential to foster innovation, bringing together diverse perspectives to deepen collaboration, he said, adding that expanding youth participation will be key to broadening the scope of exchanges for the future. Toshio Muto, representative of the Japanese co-organizers and chairman of the Daiwa Institute of Research, highlighted the forum's achievements, built on mutual trust and the spirit of "seeking common ground while reserving differences." He called for continued high-quality dialogue to promote stable and healthy bilateral relations and contribute to global peace and stability. Following the opening ceremony, CICG and Genron NPO signed a cooperation framework agreement for the next decade (2025–2034). Both sides highly commended the forum's contributions over the past 20 years in fostering mutual trust, building consensus, and promoting the healthy and stable development of China-Japan relations. They reaffirmed their commitment to advancing the forum's impact over the next decade and striving for even greater achievements. Together, they aim to write a new chapter of friendship and cooperation between China and Japan while contributing to peace and prosperity in the region and beyond. The two-day forum includes seven parallel sub-forums focusing on bilateral politics and diplomacy, economy and trade, security, media, digital economy, peace and order, and multilateral cooperation, alongside a dedicated youth dialogue session. Established in 2005, the Beijing-Tokyo Forum is an annual event held alternately in Beijing and Tokyo. Now in its 20th iteration, it has become one of the largest and most influential people-to-people exchange platforms between China and Japan, playing a vital role in enhancing mutual understanding and fostering a stable and healthy bilateral relationship.
ABU DHABI, UAE, Dec. 11, 2024 /PRNewswire/ -- Abu Dhabi Finance Week (ADFW), the flagship event hosted by ADGM, continued into a second day with the 2024 edition of Asset Abu Dhabi. The forum, organised with theme partners ADCB, Mubadala and PGIM Global Asset Management, discussed topics such as investing in the next decade of technology, opportunities in Private Equity & Credit and investing in cities of the future. Asset Abu Dhabi gathered asset allocators and asset managers, investment bankers, venture capitalists, private equities, family offices and other institutional investors, which collectively manage over USD 42.5 trillion in assets, to share their perspectives and offer insights into some of the world's biggest hedge funds. Ray Dalio – Founder & CIO Mentor at Bridgewater Associates – delivered an insightful session on the Principles of a Changing World Order that set the tone for the discussions during the day. His thought-provoking keynote address delved into some of the most turbulent economic and political periods to reveal why the future is likely to be different to those in recent history. With AUM levels in the asset management industry rising to almost USD120 trillion in 2023 and multi-trillion-dollar managers holding around 61% of the total industry assets, the session on The Market View of Trillion Dollar Asset Managers provided insights on the market view from the top with asset management experts Aleksandar Ivanovic – President of UBS Asset Management, David Hunt – President and CEO of PGIM and Bill Huffman – CEO at Nuveen. Other prominent names in the financial investment space such as Robert Smith, Founder – Chairman & CEO at Vista Equity Partners and Aron Landy – CEO at Brevan Howard, also provided notable discussions and keynote speeches. Topics covered included an update on the falcon economy, how to spot and grow a world-class opportunity, the big picture of real estate and a brief guide on Abu Dhabi's top sovereign funds. Commenting on the event's prominence, H.E. Ahmed Jasim Al Zaabi, Chairman of ADGM and the Abu Dhabi Department of Economic Development (ADDED) said: "Convening some of the biggest names within the asset management sector, Asset Abu Dhabi is an unparalleled platform to share insights on and shape the future of this dynamic sector. Through this platform, we are highlighting the next frontier of technology and investment opportunities and providing critical perspectives on regional and global economic prospects that will transform the next decade of investments in an evolving world order. Asset Abu Dhabi underscores ADGM's unwavering commitment to driving the growth of the Falcon Economy." 14 Memorandums of Understanding (MoU) have been signed at ADFW so far. Some of the major ones signed by ADGM today included prominent names such as Istanbul Financial Centre, Beijing Financial Street Services Bureau and Polygon. Another agreement signed between Circle and Lulu Financial Holdings was also a highlight at the event. Abu Dhabi Investment Office (ADIO) signed MoUs with leading entities such as PGIM, EXIM Bank and MasterCard. In parallel to Asset Abu Dhabi, ADFW celebrated 40 years of bilateral relations between the UAE and China with the inaugural special edition of the UAE-China Investment Forum in collaboration with HSBC. The event explored the opportunities for mutual trade and prosperity with some very special guests such as Carl Ge –Partner at Hillhouse Investment, Dr. Nasser Saidi – President at Nasser Saidi & Associates, Sean Ho – CIO at Triata, Chi-Man Kwan – Founder & CEO at Raffles Family Office and Casey Ge – Group VP and Chief Strategy Officer at WInd Information. ADFW hosted several other special events on day two such as RESOLVE, the UBS Investor Forum, the International Family Office Congress and T.R.I. (Turnaround Restructuring & Insolvency) Summit, Spears Summit – Private Wealth Forum and the Future of Talent Summit. ADFW's event series continues for another two days with flagship events such as Fintech Abu Dhabi and Abu Dhabi Sustainable Finance Forum (ADSFF) that will bring together the industry's best to its international stage.
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