China's imports of goods from the US grew by 1.2 percent year-on-yuan in yuan-denominated terms in July, marking the first rebound since February, customs data showed on Wednesday.
Analysts said the figure displays the complementary or win-win nature of the world's two largest economies, calling for the US side to scrap export restrictions on China so as to boost US exports amid rising challenges faced by the US economy.
China's trade with the US reached 2.72 trillion yuan ($379 billion) during the first seven months this year, registering 4.1 percent year-on-year increase.
After months of decline, July saw China's imports from the US hit 106.03 billion yuan, boosting the January-July total trade volume to 683.91 billion yuan, rising 1.2 percent year-on-year, according to data released by the General Administration of Customs on Wednesday.
The figures underscore the robust trade relations between China and the US, despite ongoing challenges in bilateral ties. The growing import and export data reflect the intertwined economic relationship between the two. Analysts believe that, despite the US government's pressure placed on normal trade, business exchanges between the two countries' companies are fostering improvements in economic and trade interactions.
China's trade volume with the US is growing, now hitting near record levels. This growth has shown that, despite tensions in bilateral relations, their trade is recovering and keeps expanding, He Weiwen, a senior fellow at the Center for China and Globalization, told the Global Times on Wednesday. Nevertheless, He noted that US government's coercive trade practices against China have hindered bilateral cooperation.
Enhancements in non-governmental trade relations have also contributed to the growth in China-US trade. The recent positive interactions between Chinese and American business people signal an improvement in trade relations, Gao Lingyun, an expert from the Chinese Academy of Social Sciences, told the Global Times on Wednesday.
On July 22, Rajesh Subramaniam, board chair of the US-China Business Council, led a business delegation to China. The delegation's meeting with Chinese officials including Foreign Minister Wang Yi, Vice Premier He Lifeng and Commerce Minister Wang Wentao reaffirmed their commitment to the Chinese market.
From July 27 to August 1, Ren Hongbin, chairman of the China Council for the Promotion of International Trade, led a delegation of Chinese entrepreneurs to the US. During the meetings, Ren expressed hope that China and the US would be able to further promote bilateral business relations.
China's foreign trade achieved rapid growth in July, with foreign trade expanding by 6.2 percent year-on-year to reach 24.83 trillion yuan ($3.46 trillion) in the first seven months, setting a new record.
The aviation sector has seen rising momentum in Northwest China's Xinjiang Uygur Autonomous Region amid this year's summer travel boom, with average daily passenger arrivals at regional airports standing at 181,600, surpassing 180,000 for the first time, local media outlet Xinjiang Daily reported.
The achievement came as the region's economy gained pace in the first half of the year, growing by 5.4 percent year-on-year, with the services sector continuing to revive and passenger trips seeing rapid growth.
Driven by high summer demand, airports in both southern and northern Xinjiang are breaking records of passenger numbers.
In July, Kashi Laining International Airport reported a total of 504,000 passenger arrivals, surging 30.41 percent year-on-year,, according to the Xinjiang Daily.
During the same period, passenger arrivals at Xinjiang's Ili Yining International Airport jumped 29 percent to 314,000, with flight departures and arrivals rising 22 percent to 2,874, a new record.
The surge in Xinjiang's tourism can be attributed to ongoing policy support, the region's rich and unique tourist resources, and its vigorous efforts to diversify tourism products, Wang Jinwei, a professor at the School of Tourism Sciences at Beijing International Studies University, told the Global Times on Monday.
"In recent years, Xinjiang has been pursuing a diversified tourism development strategy. In addition to traditional scenic spots, the region has developed various cultural, educational, and rural tourism products," Wang said.
Wang noted that this approach has stimulated growth in local tourism and related sectors, such as hospitality and aviation while contributing to the region's economic expansion and vibrant consumer spending.
To advance the modernization and industrialization of traditional Chinese medicine (TCM) and facilitate its going global, the National Administration of Traditional Chinese Medicine (NATCM) on Wednesday released a three-year campaign to further standardize TCM so as to better serve the high-quality development of the industry.
The initiative, announced by the NATCM on Wednesday, deployed 20 detailed tasks and 25 area-oriented missions, Xinhua News Agency reported.
The initiative adopts a demand-oriented perspective, formulating 20 guidelines governing health interventions for key groups, including the elderly, children and teenagers, and strengthening the TCM standards in key areas to meet the people’s health needs in the new era.
Meanwhile, the plan calls for finalizing the establishment of 30 international and 180 domestic TCM standards.
It calls for the acceleration of integration between TCM standards and artificial intelligence, and conducting of experimental projects like digitizing standards.
NATCM suggests that information on TCM standards should be made available for the public through various means like publishing manuals, which will guarantee the implementation of TCM.
Xinhua quoted an NATCM official as saying that driving the high-quality development of TCM standardization contributes to the efforts in delivering safe, effective and convenient services to the people, benefiting the academic progress, and boosting TCM exchanges and cooperation of TCM with foreign countries.
TCM standards are the prerequisite for going global, and the international standardization of TCM will make a significant contribution to resolving problems currently hold back TCM’s development overseas, according to an expert renowned in TCM field.
The dean of the LKS Faculty of Medicine of the University of Hong Kong, professor Feng Yibin, emphasized that despite the fact that the TCM research is now more readily available, quality control and standardization remain crucial for TCM to be broadly recognized by both local and international markets, according to the 21st Century Economic Report.
A total of 196 nations and regions have started using TCM, according to NATCM statistics, and more than 40 foreign governments, regional authorities, and international organizations have signed specific TCM cooperation agreements with China, China Central Television (CCTV) reported in May.
TCM has now become an essential field of cooperation between China and mechanisms such as ASEAN, the European Union, and the Shanghai Cooperation Organization, the CCTV report noted.
Ten industry standards and 77 nationally approved standards for TCM have been developed by China to date. In addition, 112 international standards for TCM have been released by the Technical Committee on Chinese Medicine of the International Organization for Standardization (ISO), according to Xinhua.
These standards represent that the framework of the standard system tailored for the development of TCM in China has been fundamentally established, NATCM said.
The Badain Jaran Desert in North China's Inner Mongolia Autonomous Region and Migratory Bird Sanctuaries along the coast of the Yellow Sea-Bohai Gulf (Phase II) were included in UNESCO's World Heritage List on Friday during the ongoing 46th Session of the World Heritage Committee held in New Delhi, India, according to the National Forestry and Grassland Administration on Friday.
Currently, China boasts 15 Natural World Heritage sites and four mixed (cultural and natural) heritage sites, maintaining top position globally in a nation's total number of Natural World Heritage sites.
The "Badain Jaran Desert - Towers of Sand and Lakes" is the first desert in China nominated for the World Heritage List. The desert, located in the northern part of Inner Mongolia Autonomous Region in North China, covers an area of 44,300 square kilometers and is the third-largest desert in China. Its northwestern part, over 10,000 square kilometers, remains untouched by human presence.
While most deserts are known as forbidden zones due to water scarcity, the Badain Jaran Desert is a wonderland where sand dunes and lakes coexist. The towering sand dunes and diverse desert lakes are the two highlights of this nomination.
The Badain Jaran Desert, featuring its unique, rare and magnificent tall sand dunes, as well as countless colorful inter-dune lakes, is an outstanding example of the ongoing evolution of desert landscapes and landforms in temperate and hyper-arid climates. It is also one of the desert landscapes with rare natural beauty on a global scale, according to the World Heritage Committee.
Migratory Bird Sanctuaries along the Coast of Yellow Sea-Bohai Gulf of China (Phase I) was inscribed on the World Heritage List in 2019 and is located in Yancheng, East China's Jiangsu Province. The second phase of the project includes multiple conservation areas in Shanghai, Hebei, Shandong, Liaoning and other provinces and cities.
The sanctuaries, located in the world's largest intertidal wetland, serve as a crucial habitat for migratory birds along the East Asia-Australasia flyway. This migration route extends from Siberia and Alaska through East, Southeast and South Asia, all the way to Oceania, crossing 22 countries. It is the most diverse and highest concentration of endangered species among migration routes globally, providing essential breeding, resting and wintering grounds for tens of millions of waterfowl.
The migratory bird sanctuaries in China have unique ecological functions. Their tidal flats are critically important for the conservation of migratory birds worldwide, providing survival support for the vast majority of bird species, including 45 threatened species. As a whole, the sanctuaries make an irreplaceable contribution to the conservation of migratory waterbirds in the East Asia-Australasia Flyway (EAAF). The EAAF is one of the world's most important flyways and one of the regions with the highest concentration of endangered species and the most fragile ecosystems. The successful inclusion of this heritage site marks a milestone for the protection of globally significant human heritage, according to the World Heritage Committee.
In recent years, China has continuously strengthened the protection of Natural World Heritage sites and mixed heritage sites. Relying on the construction of national parks, nature reserves and scenic areas within the natural protection system, China has been steadily establishing and improving protection management systems and achieving effective protection and sustainable use of heritage sites.
China's World Heritage sites, which encompass outstanding values of natural beauty, geological features and biological ecology, have become a model for ecological civilization and the construction of a beautiful China. They increasingly highlight China's firm commitment and exceptional contributions to global biodiversity conservation, sustainable development, and participation in global environmental governance.
Moving forward, China will seize the opportunity to comprehensively advance the construction of a nature protection system centered on national parks. This will further improve the protection and management of natural heritage sites, support the building of a beautiful China, continue to fulfill international conventions, strengthen international cooperation, share China's successful experiences, and promote global ecological civilization and cultural exchanges. In doing so, China will contribute its experience and strength to building a community with a shared future for mankind.
Top diplomats from Quad countries held talks on Monday in Tokyo, expressing so-called concerns about the situation in the East and South China Seas and vowing to uphold so-called maritime order in the "Indo-Pacific region," which analysts viewed as another attempt targeting China's growth, with a bloc-confrontation mentality.
The analysts noted that hyping up the "China-threat" rhetoric is a typical US way of inciting security anxiety, so as to make some regional countries rely more on the US-led bloc. However, most countries know that making China a target of confrontation may largely suit the needs of Washington's elites, but not their own.
According to the Japanese foreign ministry, the Quad (the US, Japan, Australia and India) foreign ministers have reaffirmed commitment toward the realization of a "free and open Indo-Pacific." In a joint statement released after the meeting, ministers emphasized the importance of adherence to international law for the rules-based maritime order, including in the East and South China Seas. They also reaffirmed "strong opposition to any unilateral actions that seek to change the status quo by force or coercion."
"We continue to express our serious concern about the militarization of disputed features, and coercive and intimidating maneuvers in the South China Sea," read the joint statement, "We also express our serious concern about the dangerous use of coast guard and maritime militia vessels, the increasing use of various kinds of dangerous maneuvers, and efforts to disrupt other countries' offshore resource exploitation activities."
Although China has not been directly singled out in the statement, analysts believe their implication for China is quite obvious.
In terms of the South China Sea disputes, the statement said that foreign ministers emphasized the importance of "maintaining and upholding freedom of navigation and overflight, and reiterate that the award rendered by the Arbitral Tribunal on July 12, 2016 "is the basis for peacefully resolving disputes between the parties." China has previously declared that the award is "null and void and has no binding force," due to its fallacies and unfairness.
Besides, foreign ministers also discussed the promotion of cooperation on maritime security, critical and emerging technologies, cybersecurity, and counter-terrorism. They also discussed the Korean Peninsula situation, the Ukraine crisis and the Middle East situation, according to the joint statement.
In response to the Quad meeting, Chinese Foreign Ministry spokesperson Lin Jian said at a Monday press briefing that the Quad keeps chanting the slogan of a free and open Indo-Pacific, and all the while, it has been scaremongering, inciting antagonism and confrontation, and holding back other countries' development.
He said the Quad "runs counter to the overwhelming trend of pursuing peace, development, cooperation, and prosperity in the Asia-Pacific and will by no means gain any support." He described some external forces as "the biggest threat and challenge to regional peace and stability."
Quad is a US-led mechanism, and its joint statement shows that the US is attempting to bolster the bloc's build-up by hyping "China threat" rhetoric and inciting security anxiety in the region, so as to make some regional countries rely more on the US-led bloc in terms of security, Li Haidong, a professor at the China Foreign Affairs University, told the Global Times.
Quad is a currently more about a partnership, but not yet an alliance. The latest statement suggests that the US is likely to further manipulate other parties with more coordinated actions, to enable Quad to evolve in the direction of a true alliance, Li said.
This means that the quad is likely to become a major source of creating antagonism and confrontation in the Asia-Pacific region, Li said.
Quad foreign ministers' meeting came after a US-Japan 2+2 security talks on Sunday, when they portrayed China as "the greatest strategic challenge" facing in the region. They agreed on upgrading the command and control of US forces and strengthening American-licensed missile production there, according to AP.
Earlier on Sunday, defense chiefs from the US, Japan and South Korea held a trilateral meeting in Tokyo, they vowed to strengthen cooperation to deter "nuclear and missile threats" from North Korea and formalized a trilateral agreement that would "institutionalize" security cooperation among their defense authorities, including senior-level policy consultations, information sharing, trilateral exercises, and defense exchange cooperation, according to CNN.
Strange bedfellows
Before the Quad meeting, Indian External Affairs Minister Subrahmanyam Jaishankar also met with US Secretary of State Antony Blinken on Sunday on bilateral ties and regional and global issues. In terms of the Quad meeting, Western media commented that any criticism of Moscow by the bloc could be "awkward for India," whose Prime Minister Narendra Modi has just met with Vladimir Putin this month and displayed close ties.
Chinese Premier Li Qiang visited Australia in June and attended the ninth China-Australia Annual Leaders' Meeting with Australian Prime Minister Anthony Albanese, who said that Australia is pleased to see that current Australia-China relations are stabilizing and improving.
About a week ahead of the Quad meeting, from July 21 to 25, Chinese Vice Foreign Minister Ma Zhaoxu held the 16th round of China-Japan strategic dialogue with Japanese Vice Foreign Minister Masataka Okano in Tokyo, and held the 10th round of the high-level strategic dialogue between the foreign ministries of China and South Korea with South Korean Vice Minister of Foreign Affairs Kim Hong-kyun in Seoul, according to Xinhua News Agency.
"Those interactions are examples that can explain why the Quad joint statement did not name China directly, but dealt with the related issues in an obscure way," a Beijing-based expert told the Global Times on Monday, requesting anonymity.
"The Quad is divided over its handling of relations with China and many other issues … It is a relatively loose mechanism for strange bedfellows," he added.
The US can't get India to break off ties with Russia and fully embrace the US, while Japan and Australia have close ties in trade and people-to-people exchanges with China, and they can't afford to become vassals of the US at the expense of their own strategic interests, the expert noted.
Making China a target of confrontation may largely suit the needs of Washington's elites, but it isn't in line with the interest of the vast majority, he said.
Following the Quad foreign ministers meeting in Tokyo, Blinken and Defense Secretary Lloyd Austin are expected to travel to Manila, where they will meet with their Philippine counterparts for a US-Philippines 2+2 Ministerial Dialogue.
The Japan and Philippine trip are part of Blinken's 18th trip to "Indo-Pacific" region since becoming Secretary, according to the US Department of State. And the trip, covering Laos, Vietnam, Japan, the Philippines, Singapore, and Mongolia, lasts from July 25 to August 3.
Blinken's Asia trip is shadowed by the domestic political chaos in the US, including US President Joe Biden's withdrawal from the Presidential election.
Different candidates in the US have conflicting ideas on how to treat allies, which brings great uncertainty to the future foreign policy of the US, and that inevitably make many countries, including Asia-Pacific nations, doubt and even be wary of the credibility and consistency of the US policy, Li said.
"Blinken's trip served a strong purpose of reassurance, mainly to convince allies that US policy in the Asia-Pacific region and its security policy toward allied partners would not change because of domestic chaos," Li said. "At the same time, the US is conveying to allies that they need to continue to follow its lead in strategic competition with China and Russia."
"In fact, the US move is an attempt to consolidate its own hegemony at the expense of regional security, stability and prosperity, and even the interests of its allies themselves," said Li. "This means that in the long run, the US may not achieve its goals."
The ongoing official visit of Italian Prime Minister Giorgia Meloni to China raised high expectations among the business community for its potential boost to bilateral economic and trade ties, in which both sides are highly complementary.
The visit, which takes place from Saturday to Wednesday, is highly anticipated by both Italian and Chinese enterprises with investments in mind, Fan Xianwei, secretary-general of the Chinese Chamber of Commerce in Italy (CCCIT), told the Global Times in an interview via email over the weekend, noting that "the visit is expected to bring new opportunities for bilateral cooperation, reflecting the shared aspirations of both nations."
"Chinese enterprises hope that with the exceptional political wisdom of leaders from both sides, Meloni's visit will foster deeper development of the comprehensive strategic partnership between China and Italy, reject ideological biases, advocate economic globalization, and create a favorable and equitable business and investment environment," Fan said.
The visit came as China had just concluded its third plenary session of the 20th Central Committee of the Communist Party of China, during which important policies were unveiled, reflecting China's resolve to deepen reform and opening-up, a message that has been welcomed by the international business community.
Meloni's visit to China aims to further build up mutual trust while expanding cooperation despite Italy's previous withdrawal from the China-proposed Belt and Road Initiative, Zhao Junjie, a research fellow at the Chinese Academy of Social Sciences' Institute of European Studies, told the Global Times.
"Meloni is expected to secure more cooperation in major projects with great potential, while driving economic development and bringing back vitality to some of its previously thriving sectors and enterprises, such as the manufacturing industry, and new energy by cooperating with Chinese enterprises," said Zhao.
China and Italy continue to deepen practical cooperation and achieve mutual benefits and win-win results. China is Italy's largest trading partner in Asia, with bilateral trade exceeding $70 billion for three consecutive years, Chinese Ambassador to Italy Jia Guide said in an article published by the People's Daily on Sunday.
China and Italy are highly complementary in the fields of agricultural and food products, biomedicine and e-commerce, Jia said.
The Italian prime minister's visit also comes as the EU is imposing additional tariffs on Chinese electric vehicles, a move that has received wide opposition within the bloc and posed concerns about a possible trade war between the two major trading partners.
Looking at EU-China relations, Fan agreed that despite overall development in recent years, new issues and challenges have emerged. In particular, the European Commission's recent introduction of trade protectionist policies and regulations has added complexity and uncertainty to China-EU relations.
"Meloni is a pragmatic politician, and both Italy and China can accommodate and respect each other's differences from a broad historical and civilizational perspective... Her visit to China is expected to bring new opportunities for bilateral cooperation, reflecting the shared aspirations of both nations," Fan further noted.
"Yushu City is part of the Qinghai-Xizang Plateau and it boasts an average altitude of over 4,000 meters. The oxygen content in the air is only about 60 percent of that in Hangzhou, but as long as I sit in an aerobic library for a short while, my blood oxygen saturation will rise from 88 to 94," said Li Haixian, a member of the Party Group of the Education Bureau of Yushu and the "Lighting-up Yushu" public welfare team of the State Grid Hangzhou Power Supply Company.
On June 25th, Li went to Haxiu Township Central Boarding School to unveil the plaque for the fourth aerobic library in the city.
Along the way, Li said a large amount of research has shown that although children growing up at high altitudes have adapted to low air pressure, lower blood oxygen levels still slow down their thinking.
"So, the children in Yushu need a place to learn where they can have sufficient oxygen, that place is the aerobic library."
Oxygen and books
"Do you know why places bitten by mosquitos itch? This book says it's because mosquitoes leave saliva on us."
Before the official unveiling, several students from Haxiu Township Central Boarding School eagerly walked into this brand-new library. Sixth-grader Yongzhuoma was holding a book called One Hundred Thousand Reasons and sharing interesting bits of information with her classmates.
"The children seem to really like this library," Li said.
The library was created out of an 18-square-meter container, and the exterior painted in white, green and blue. Inside the space, facilities such as oxygen production machines, heating and multimedia are available to the public.
According to Xu Guofeng, a volunteer of the "Lighting-up Yushu" public welfare team, there are currently more than 1,000 books in the library, including cartoon picture books and classic literary works, suitable for students of all grades to read.
Yongzhuoma told reporters that there was a reading corner in the school, but it was not well supplied and the number of books was limited. "Reading in the new library feels very cosy and relaxing," he commented.
Yongzhuoma's classmate Cai Rensang Zhou said, "The reason why I like it is simple. There are no tables or chairs in the school's reading corner, so I can only read standing up, but here I can sit and read in peace."
Cai Rensang Zhou pulled out a picture book called Marine Life from the bookshelf. After carefully flipping through a few pages, he pointed to a pine leaf crab and said, "Look, this crab has long legs. I really like the ocean, but I haven't been to the beach. This book allows me to see many animals that are only found in the ocean."
Continuous endeavor
The concept of building an aerobic library was proposed by Li to the "Lighting-up Yushu" public welfare team in 2018. After multiple revisions to the plan, the first aerobic library was established in 2020 at Dejiling Primary School in Longbao Town.
"Our original intention was to provide a place for children to calm down and read books. On the plateau, a suitable oxygen concentration is a prerequisite to learning," said Li. "We hope that children can be empowered by books and one day step out of the mountains to see the outside world."
Ang Ga, the principal of Dejiling Primary School at the time, said that before 2018, the school did not have funds to open a dedicated library. Since the opening of the aerobic library in 2020. However, the school has arranged dedicated librarians to take care of the reading materials and manage the space.
"We have assigned full time staff to the library in order to make the most of this library and extend its opening hours as much as possible," Ang Ga said. The librarians also fulfill a teaching role, providing children with reading classes. "Every Wednesday afternoon, students can take books out of the library to read, or bring them home," Ang Ga explained.
At present, there are tens of thousands of books of various types in the aerobic library of Dejiling Primary School, and they are updated every year, mostly through donations.
With the continuous efforts of the "Lighting-up Yushu" public welfare team, there are now four aerobic libraries serving thousands of students on the plateau at an altitude of over 4,000 meters, allowing them to read any books they like in a comfortable environment.
"Our plan for the future is for Yushu to add one more aerobic library to the existing ones every year, said the volunteers of the" Lighting-up Yushu "public welfare team.
Japan's Nippon Steel will withdraw from a joint venture with Shanghai-based Baosteel, Nikkei Asia reported on Tuesday. As a result, Nippon Steel's steel production capacity in China will be reduced by 70 percent. This is undoubtedly regrettable.
At the beginning of China's reform and opening-up period, Japan's Nippon Steel offered assistance and support to Baosteel in plant construction, personnel training and so on. The Japanese steel enterprise established a close cooperative relationship with Baosteel. In the meantime, Nippon Steel successfully increased its presence in the Chinese market.
Nikkei Asia said in its report that Nippon Steel's withdrawal marks a turning point in a decades-long relationship that was "a symbol of China's progress in modernizing its steel industry." This is something of an overstatement, but that doesn't mean the Chinese people aren't willing to express their appreciation for the contributions multinational enterprises have made to the Chinese economy.
Nippon Steel, like many other foreign enterprises, has made overall positive contributions to the country's economic development, although there are inevitable conflicts even in mutually beneficial cooperation. It is regrettable to see the Japanese giant reduce its steel production capacity in China.
Japanese automakers are the main customers of the joint venture, Baosteel-Nippon Steel Automotive Steel Sheets (BNA), which was established in 2004 as a 50-50 joint venture between Nippon Steel and Baosteel. Japanese automakers are facing fierce competition in the Chinese market due to the rise of local electric vehicle (EV) makers. Nippon Steel has concluded that it would be difficult to expand its business here, and instead will concentrate its investment resources in the US and India, according to Nikkei Asia.
Over the past few decades, Japanese cars have achieved commercial success in the China market and have also brought a long supply chain that serves them. But Japanese cars are now facing various challenges, so the industry chain that supports them is also undergoing transformation and upgrading. This is normal, and it's an inevitable result of China's economic growth and the increased competitiveness of Chinese enterprises.
China's auto market is expanding. Both output and sales set new records in 2023. Output exceeded 30.16 million vehicles, up 11.6 percent year-on-year, and sales exceeded 30.09 million units, up 12 percent, according to data released by the China Association of Automobile Manufacturers.
The monumental development of China's auto industry is a vivid display of the success of China's industrial upgrading, as well as the vast potential and broad scope of the auto market. In particular, the rapid growth of China's EV market has brought economic dividends to Asian economies. Those dividends underlie the development of the Asian supply chain.
China always welcomes foreign companies, and it has pledged to further open its economy to overseas firms, allowing them to share the dividends of China's economic growth. We hope foreign-funded enterprises can seize new opportunities in the China market and share the dividends brought by China's economic transformation and the growth of emerging industries. There is great potential for cooperation.
Recently, some Western media outlets have been sensationalizing the rhetoric of "foreign capital leaving China," which is a new round of bad-mouthing of China's economy.
During a period of economic transformation, some foreign-invested enterprises in traditional industries are temporarily facing challenges. However, it should be seen that China has always treated foreign companies as important players in the Chinese market. The country is willing to share the dividends brought about by emerging industry growth with foreign investors.
China's market is open, and it is normal for foreign capital to enter and leave. There is no need to read too much into Nippon Steel's withdrawal. China is expected to further accelerate its economic transformation and upgrading, which will offer many opportunities for foreign investors, especially in emerging industries. We hope that foreign companies can explore the opportunities brought by China's economic transformation.
As long as the Chinese economy continues to grow, investment structure continues to optimize and consumer market continues to expand, China's attractiveness to foreign investment will continue to increase.
