Editor's Note:

The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) kicked off in Beijing on September 4. It takes place at a critical juncture when the world is grappling with various regional and global crises and there is a pressing need for countries from the Global South to join hands. How will this year's FOCAC elevate ties between China and Africa? What is the significance of building a high-level China-Africa community with a shared future? The Global Times (GT) interviewed a number of former officials and pundits from various African countries to share their insights and stories. 

In the third article of this series, GT reporter Li Aixin interviewed Hisham El-Zimaity (El-Zimaity), secretary general of the Egyptian Council for Foreign Affairs and former ambassador of Egypt to Japan, Hungary, Slovenia and Pakistan.

GT: This year marks the 10th anniversary of the establishment of the China-Egypt comprehensive strategic partnership. How do you view the progress in China-Egypt relations over the past decade?

El-Zimaity: A decade is a just a part of the friendship between China and Egypt. Our relationship originally dates back to 1956. Egypt was the first country in the Middle East and Africa to establish diplomatic relations with China. Since then, our friendship has grown deeper and deeper. The elevation of our relations to a comprehensive strategic partnership, which happened just 10 years ago, was a natural and logical outcome of this deep bond.

The civilizations of China and Egypt have histories that stretch back thousands of years, unlike other countries that count their histories in the hundreds of years. China and Egypt each have a history of 5,000 years, perhaps more. The depth of these civilizations is deeply rooted in history, rich in experience and abundant in wisdom.  

GT: How do you understand the idea of a "high-level China-Africa community with a shared future," which is a part of the theme in this year's FOCAC?

El-Zimaity: In this interconnected world and in this era of globalization, we are all in the same boat. While we may be geographically distant, we are united in our goal to develop our nations and benefit our people. We face significant challenges in education, health, industrialization and agriculture. We struggle with issues like water scarcity and diseases. Therefore, modernizing and building a strong China-Africa community with a shared future is essential. The populations of China and Africa together make up about one-third of humanity. Working together on issues and sharing a future is both natural and something we strongly support.

We should not forget the flagship initiatives introduced by China, such as the Global Development Initiative, which assists developing countries in meeting the UN Sustainable Development Goals and strengthens the understanding of development; the Global Security Initiative, which aims to bring countries together under a security framework governed by the principle of mutual non-interference; and lastly, the Global Civilization Initiative, which advocates for respect for the diversity of civilizations, rather than imposing ideas, such as universal values that are not universally agreed upon. If we add these three initiatives to what will be discussed by the leaders in Beijing, I believe we have a very rich agenda, which will contribute to the success of this forum.

GT: The FOCAC theme also focuses on modernization. How could China and Africa cooperate to join hands to advance modernization? 

El-Zimaity: Modernization is the culmination of development. Development begins with establishing political stability and educating people. Additionally, infrastructure is crucial for attracting investments. While Chinese investments across the continent are most welcome, there is a need to attract even more. To achieve this, we must focus on improving education, healthcare and infrastructure, while maintaining political stability. Modernization is a goal in itself that will be achieved through the sustainable development goals. 

During the pandemic, Egypt and China demonstrated a remarkable example of solidarity. While other countries were refusing to provide vaccines to Africa, China and Egypt worked together to supply vaccines to African nations. It's a wonderful example of our collaboration.

GT: How do the Egyptian public and businesses view the BRI? 

El-Zimaity: Egypt was among the very first countries to join this important initiative. When I say "important," it's because it was a game changer - a game changer that addressed a significant gap in the field of development. This initiative was introduced by the Chinese president as something that would bring us together - not only China and Africa, but China and probably the rest of the world, as the initiative now involves more than 150 countries.

For the Egyptian business community and the public in general, this is a very welcome initiative, and will be fruitful. The initiative itself, as you know, focuses on infrastructure, such as developing ports, roads and industrial zones. It also includes health, the digital Silk Road and the educational Silk Road. It is a comprehensive initiative, where everyone stands to gain, and no one loses.

On the other hand, other [countries'] initiatives launched after the BRI have not materialized. The only initiative that is functioning properly is the BRI. What has greatly contributed to its success is the AIIB, which serves as the tool to implement agreements made among governments. This is something we greatly appreciate in Chinese thinking regarding the development of our region.

China's developmental experience, which managed to lift over 800 million people out of poverty through hard work, sacrifice and real efforts by everyone, is something we in Africa would like to learn from. Unfortunately, in Africa, we have around 600 million homes without electricity and about 900 million households without clean cooking energy. These are challenges that Africa hopes to address by learning from China's successful experience in reducing and alleviating poverty, and hopefully, one day, eliminating it completely from the developing world. 

GT: From Egypt's perspective, what would an ideal world order look like? How can China and Africa collaborate to fulfill this vision?

El-Zimaity: It's a difficult question. We want a stable world where we can conduct business, trade, communicate, and exchange goods, services, and ideas. However, this ideal situation unfortunately does not exist.

What we need to do now is to try to pacify all parties. Let's do our best to achieve as much stability as we can. We need to stop further destabilization and the financing of terrorism by some actors. Terrorism has destabilized many countries in the Middle East and Africa. It's high time we cooperate to stabilize the world and address its problems. 

It would be much better to resolve these issues at the negotiating table so that we can all benefit from the future. Egypt is not an enemy to anyone and wants to play a role in stabilizing the world, or at least our region, if possible. This includes solving the Palestinian issue by allowing Palestinians to establish their own state and live in peace. This is crucial for our stability, future and the development of our nation.

Editor's Note:

The 2024 Forum on China-Africa Cooperation (FOCAC) Summit is being held in Beijing from September 4 to 6. The theme of this year's summit is "Joining Hands to Advance Modernization and Build a High-Level China-Africa Community with a Shared Future." In light of this key event, the Global Times launches a series of China-Africa stories, including interviews with political leaders, stories of exchanges between young people from China and African countries, and intensive cooperation in various fields. Through these stories, we will see how China and Africa are deepening their ties and building a brighter future together.

The English adventure novel Robinson Crusoe, published in 1719, tells the story of a young man who gave up the conventional comforts of a middle-class life and embarked on a sea voyage to seek adventure.

Fast forward three centuries, Millennial Chinese national Cao Fengze, having graduated with a doctorate from China's prestigious Tsinghua University, is following in Crusoe's footsteps by leaving behind his secure career in China to pursue opportunities in Africa.

As he has worked on infrastructure projects in countries like Tanzania, Zambia, South Africa and Lesotho under the framework of the China-proposed Belt and Road Initiative (BRI), Cao's endeavors sparked heated discussion online and inspired a new generation of young Chinese to consider Africa as a promising destination for realizing their own aspirations.

These ambitious individuals recognize that conventional overseas destinations like Europe and the US are no longer the sole gateways to success in today's evolving global landscape. Africa, with its dynamic opportunities and potential, has emerged as a beacon for those seeking new horizons.

By venturing into Africa, these forward-thinking youth are not only forging their own paths but also helping pave the way for the development of both China and other developing countries.

This journey is made possible through the deepening collaboration and strong bonds between China and Africa on the global stage, as well as Africa's increasingly prominent presence in China's social media landscape. Together, these interconnected elements form a network of young individuals transcending the confines of the traditional capitalist order, fostering a "community of shared future for mankind."

Across social media posts sharing people's experiences working in Africa, there's a prevailing belief among these young go-getters that "If you can tough it out, Africa is a goldmine waiting to be tapped." In those posts, Africa is no longer a synonym for poverty and underdevelopment, but is a continent seen as a land of opportunity and growth. With Chinese goods gaining popularity in Africa, young entrepreneurs are seizing the chance to make their own marks in sectors like e-commerce.
Empowering small African traders

The active trade between China and Africa has created job opportunities for numerous foreign trade distributors. Among them, 24-year-old Fang Jing stands out for her focus on the emerging small wholesalers and African women running small businesses in this field, rather than the traditional large foreign trade clients.

Fang, the manager of trading company AKOMAPA, facilitates the direct sale and marketing of Chinese goods from factories to small-scale African wholesalers, with products ranging from diapers and mops to factory equipment.

With a turnover exceeding 10 million yuan ($1.4 million) in the past 12 months, Fang's company not only supplies goods but also offers free training to her African customers on selling products using a Chinese e-commerce mind-set.

For these emerging African small wholesalers and women looking to start their own businesses, finding the sources of authentic "Made in China" products. They face obstacles such as making sparse orders, language barriers, a lack of resources for on-site field research, difficulty in navigating online platforms, and troublesome after-sales services.

Fang told the Global Times that she addresses these needs by leveraging social media, where her vlogs showcase Chinese factories and product instructions, garnering significant interests from over 1,300 African retailers.

Fang's engaging videos, featuring the production process of items like diapers and slippers, resonate with African audiences via her down-to-earth personality and lively presentation style.

Her approach, inspired by Chinese e-commerce practices, intrigues many small-scale African retailers seeking to enhance their business strategies. Fang also provides online training on creating compelling product videos with a mobile phone and building customer groups for increased exposure and user engagement.

After quitting the high-paying and demanding IT industry and venturing into the uncharted territory of foreign trade with the Africans, Fang embarked on an adventurous journey two years after her college graduation.

She tirelessly braved the scorching sun to conduct surveys and investigations in various locations, seeking the ideal factory processing line that can manufacture products tailored to the daily habits and aesthetic tastes of African households. She fearlessly pursued debts across the ocean, risking bankruptcy, and burned the midnight oil scrolling through TikTok to grasp the consumption habits and cultural nuances of users in different African regions.

Witnessing the impact of her products, such as writing boards being used in African classrooms, Fang is filled with pride and satisfaction. She views herself as a mutually beneficial partner to her African customers.

In a shifting landscape where traditional manufacturing industries face pressure, young entrepreneurs like Fang are exploring new opportunities in Africa, attracting Chinese factories seeking to expand their presence in the African market. Fang's efforts have enabled her to ship an average of seven 40-foot containers overseas every month only one year after starting her business, showcasing the growing capabilities and confidence of Chinese youth in engaging with Africa.
Strengthening small-scale farmers

Before venturing into Kenya to engage in farming and vegetable sales, 30-year-old Li Yi held a prestigious position as a consultant at McKinsey. Working in the firm's Los Angeles office at the time, creating presentations, and catering to clients from diverse industries, she did not even envision that within a few years, she would own a thousand-acre farm nestled at the foot of a mountain in Kenya, waking up at three in the morning to escort trucks to the market in the largest slum in Africa to sell tomatoes.

By the end of 2020, Li and her Kenyan partner had established an agricultural company named "FarmWorks," which primarily utilizes advanced planting techniques to empower local small-scale farmers. Li's company provides seeds, fertilizers, and standardized services such as spraying, while also handling backend crop procurement and sales to guarantee sales for farmers. They address the issues of "what to plant, how to plant it, and who to sell it to" for local small-scale farmers.

"Kenya's agricultural sector may have a modest starting point, but it boasts immense potential and a high ceiling," Li told the Global Times about her entrepreneurial journey.

"The African country struggles with low yields per acre, a scarcity of skilled labor, and limited local operational capabilities," she said. "Nevertheless, rapid population growth in Africa, land degradation due to climate change, and heavy reliance on imported staple foods have created a strong demand for agricultural advancements, particularly in high-yield, cost-effective farming utilizing superior seeds, fertilizers, and technology."

Embarking on a business venture in Africa is no easy feat. Issues such as imperfect social governance and law enforcement in Nairobi, along with incidents of theft by acquaintances and occasional demands for bribes from police and urban management officers are common occurrences.

Nonetheless, Li views starting a business in this enchanting African country as an exciting adventure, offering the opportunity to explore endless possibilities.

"For instance, in 2023, our farm collaborated with the International Potato Center to establish Africa's first solar-powered sweet potato storage facility, utilizing solar energy and a water circulation system for power generation. This innovative storage method enhances the quality of sweet potatoes," Li said, adding that this sustainable development experiment intriguing.

"From a purely financial standpoint, Africa may not yield immediate or substantial profits. For me, the satisfaction of tackling new challenges and making tangible impacts on local livelihoods is immensely rewarding. I believe this is invaluable," she noted.

Risky but enthusiastic

Hu Zhenxing, from Central China's Henan Province, became an internet sensation in October 2023 after a video, which showed him speaking English with a strong "Henan accent" in a meeting with a dozen employees in Africa, went viral.

Over the last 10 years, the scale of the hair products company Hu works for has gradually grown, and the wigs his company produced have sold well in the African market, while providing many jobs for the local people.

At present, the company's Ghana factory employs more than 1,200 people. Hu also graduated from the initial workshop director to the head of the Ghana plant. His career path is also a microcosm of Henan's export-oriented enterprises exploring opportunities in Africa.

Many find that working in Africa offers a less stressful and more fulfilling lifestyle, with opportunities to align their careers with local development goals. With the ongoing implementation of cooperation initiatives within the bilateral mechanism framework between China and Africa aimed at boosting youth exchanges, promoting import and export trade, and advancing China's assistance in agriculture, industry, and talent development in Africa, young people in China are eagerly seeking opportunities to pursue their dreams in the growing dynamic interaction of bilateral relations.

With the right mind-set and determination, these young entrepreneurs are carving out a niche for themselves in Africa's booming economy, actively engaging with the continent's macroeconomic development strategies and making their mark in the vibrant African business landscape.

While the allure of Africa's development potential is strong, venturing into unfamiliar territories do come with risks.

One of the biggest risks is the unfamiliarity with the local market and business environment. Cultural differences, language barriers, and a lack of understanding of local customs can make it difficult for Chinese entrepreneurs to navigate the African market.

Another major challenge is the lack of infrastructure in many African countries. Poor transportation networks, unreliable electricity supply, and limited access to internet and communication services can hinder the smooth operation of businesses. Chinese entrepreneurs may find it challenging to set up their operations and ensure efficient logistics in such environments. The danger of infectious disease is also part of the concern.

Moreover, political instability and corruption in some African countries pose significant risks to Chinese entrepreneurs. They may face challenges in dealing with government officials, obtaining necessary permits and licenses, and protecting their investments from potential expropriation or unfair treatment.

Even with great enthusiasm, several entrepreneurs who spoke with the Global Times still urge young Chinese people to carefully consider whether they are suitable to come to Africa for development after they have fully understood the situation. But they also welcome more people to join their ranks, as only by expanding can they jointly find opportunities within this emerging market in the process of the continent's modernization.

Editor's Note:

The 2024 Forum on China-Africa Cooperation (FOCAC) Summit is being held in Beijing from September 4 to 6. The theme of this year's summit is "Joining Hands to Advance Modernization and Build a High-Level China-Africa Community with a Shared Future." In light of this key event, the Global Times launches a series of China-Africa stories, including interviews with political leaders, stories of exchanges between young people from China and African countries, and intensive cooperation in various fields. Through these stories, we will see how China and Africa are deepening their ties and building a brighter future together.

In Southern Africa, the Namib, a coastal desert stretching more than 2,000 kilometers along the Atlantic Ocean, is one of the oldest and driest deserts in the world. With little rainfall there, almost no grass grows. However, as the waves crash against the endless and distinctive sand dunes, illuminated by the ever-changing light and shadow of nature, a breathtaking symphony of sand and sea unfolds, creating the unparalleled beauty that is Namibia.

Driving through the heart of the Namib Desert, people can see from afar a Five-Starred Red Flag - China's national flag - fluttering in the wind.

In an open-pit uranium mine, thousands of Chinese and African people work hard under the scorching sun. Crushing equipment, water treatment plants, settling ponds, calciners, and other large equipment are laid out on the ground in the distance, with mining trucks shuttling back and forth, and workers busy with their duties.

This is the scene at the Rossing uranium mine, the largest and longest-operational open-pit uranium mine in the world. It is also a model of cooperation between China and Namibia. It is one of China's most important mining investments and projects in Namibia, producing about 5 percent of the world's uranium supply.

However, this Namibian landmark, once a "star enterprise," had faced difficulties in production and operation due to the sharp decline in natural uranium prices after the Fukushima nuclear accident in Japan. Declining production and aging equipment have left local employees lacking confidence in the future, fearing the risk of closure at any time. The Rossing uranium mine thus became known in the industry as the "Old Lady" struggling to move forward.

However, changes began to take place when a Chinese company came to the scene.

In July 2019, the state-owned China National Nuclear Corporation (CNNC) and the multinational corporation Rio Tinto completed the handover of the Rossing uranium mine, officially taking over the project and bringing new vitality to the mine that was originally scheduled to be shut down.

The Rossing project has now become a "ballast stone" for the natural uranium supply guarantee for nuclear power and a "propeller" for deepening global uranium mining capacity cooperation. The CNNC's acquisition and investment in the mine changed not only the fate of the desert mine, but also the fate of mine workers and many Namibians.

Under the China-proposed Belt and Road Initiative and the China-Africa Cooperation Forum mechanism, economic and trade cooperation between China and Africa is becoming increasingly close. More and more Chinese companies are investing and developing in Africa, growing together with the African market. These companies provide employment opportunities, conduct skills training, and cultivate batches of outstanding local talents. With the accelerated pace of Chinese companies "going global," the social status and labor skills of African women are also steadily improving.

After the CNNC acquisition, the Rossing project has not only created employment opportunities for many local women, but has also improved their economic and social status. More importantly, it has cultivated a group of high-quality female employees, empowering them to live independent and self-reliant lives.
Equally treated

Angela Kapapilo, principal resource geologist at the Rossing uranium mine, is one of the representatives. Angela joined Rossing in November 2010. After the CNNC acquisition, the company actively introduced new technologies and equipment, and the production has reached record highs year after year.

At the same time, the company has conducted efficient research on extending the life of the mine and restarted the Z20 uranium deposit exploration project. Kapapilo was then appointed as principal resource geologist, in charge of leading the Z20 exploration project, including geological, resource, geotechnical engineering, as well as hydrogeological research.

The Z20 deposit is currently in the deep exploration stage, with plans to drill over 30,000 meters by 2024-25. This will provide strong support for the feasibility study of developing over 50,000 tons of resources in the Z20 deposit and lay an important foundation for extending the life of the Rossing uranium mine for another 20 years.

"In the years working at the Rossing, I have gained experience in different positions. Serving as the principal resource geologist is a highlight of my career, thanks to the training provided by the CNNC. This is also a testament to the importance and cultivation of African employees by the Chinese company," Kapapilo told the Global Times.

While working at the Rossing, Kapapilo said, she feels that Chinese enterprises treat every employee equally, enabling them to have the opportunity to become a leader. Especially in the mining industry, being able to achieve personal ambition as a woman gives her a great sense of accomplishment. With the help of the Chinese company, she completed a master's degree in geology. Learning advanced geostatistics and machine learning techniques sharpened her ability to make wise decisions in mineral resource management.

The flexible working arrangements in the Chinese company also allowed her to better balance work and family responsibilities.

"I often take work home while also pursuing part-time studies and other personal interests, so the challenge is mainly around ensuring that I am a supportive and intentional parent. I do my best to achieve a work-life balance by following a schedule, and ensuring family time is prioritized," she said.

Kapapilo would often go to the mine, where vegetation is sparse, rocks are exposed, rainfall is scarce, and the wind is strong, to track project progress, identify problems, gather information, and seek solutions. Under her leadership, Chinese and local employees work closely together to complete their tasks on time.

"All Rossing employees have benefited from the CNNC acquisition, as the alternative would have been the mine closure, leading to an increased number of unemployed Namibians. The recent approval of the Phase 4 plan to extend the life of the mine to 2036 means that most employees will be employed beyond the original 2026. Furthermore, Rossing procures a significant number of supplies and services from Namibian companies, and the company's improved profitability in the last few years has contributed to company income tax revenue for our government," Kapapilo said. "This means that the benefit of Rossing's continued operations via the investment by the CNNC positively impacts the livelihoods of not just Rossing employees, but also the broader Namibian society."

Heartwarming and practical actions

The Global Times learned from the CNNC that the Rossing uranium mine, through the establishment of the Rossing Foundation, supports local medical, educational, and sports projects, with its footprint covering the entire Namibia.

The Rossing uranium mine has maintained a local procurement rate of about 75 percent annually, effectively driving local economic development. It also provides employment opportunities for about 1,000 direct employees and about 1,200 contractor employees, indirectly benefiting more than 10,000 people.

Besides actively cooperating with technical schools, the mine has launched female youth entrepreneurship training programs. Since 2019, eight young women in Namibia have successfully established their own businesses with the support of the Rossing.

Education conditions in Namibia are poor, especially in rural and remote areas where resources are severely lacking. Working with UNICEF and the Namibian Ministry of Education, the Rossing has also helped improve the quality of education in remote schools in the country. In 2023, the company donated materials, textbooks and teaching equipment to schools, as well as established three classes for mathematics, physics, and chemistry across Namibia, providing training courses for nearly 3,000 students.

These heartwarming and practical actions have benefited more Namibians, earning strong support from the local government and high recognition from the surrounding communities.

Namibian Minister of Mines and Energy Tom Alweendo said at a press conference held in Namibian capital Windhoek in June that Namibia's mining industry is one of the largest contributors to the country's economy, with Chinese investment playing a significant role in the development of the uranium mining sector.

In 2023, Namibia's mining sector contributed up to 14.4 percent of the country's GDP, Alweendo said, noting that Chinese investment has been instrumental in establishing Namibia as one of the world's largest producers of uranium, according to the Xinhua News Agency.

The longer Kapapilo works with Chinese employees, the more she intuitively feels the benefits of the latest technology brought along by Chinese enterprises.

"Since my interactions with Chinese colleagues in 2019, I have been directly exposed to the technological innovations within the CNNC and Chinese companies. There was one instance during which we wanted to source a particular technology based on internal metallurgical test results. However, no suitable product was available on the market. Our supply chain general manager then introduced us to a Chinese institution, which used the information we gained from metallurgical tests to help design a suitable solution," she said.

In March this year, Kapapilo came to visit Beijing and Central China's Hunan Province. She was very impressed by the hospitality of the Chinese people, the diversity of Chinese cuisines, the richness of Chinese culture, and the level of Chinese technological advancements.

During the interview, she shared an interesting experience with the Global Times.

"I normally wear masks because I have allergic reactions to various airborne respiratory tract irritants. I was pleasantly surprised when I realized there were almost no fumes from vehicles on the roads as all the vehicles we saw were electric! It gave me an impression of what carbon neutral could look like, albeit far into the future for most countries in Africa."

The People's Bank of China (PBC), the central bank, said on Thursday that there is still room to reduce the reserve requirement ratio (RRR) for banks and pledged to continue to implement the supportive monetary policy to shore up the economy. The comments underscored the PBC's commitment to creating a favorable monetary environment to boost market confidence that will help the country's economic recovery, experts said.

The average RRR for financial institutions now stands at approximately 7 percent, and there is still room for further reductions, said Zou Lan, a senior central bank official. 

The PBC will adjust the intensity and pace of monetary policy regulation based on the recovery of the economy and specific issues facing macroeconomic operations, Zou told a press conference.

The RRR reductions so far this year have produced many positive effects on the economy. For example, the PBC implemented a 50-basis point RRR cut for all commercial banks, effective February 5, to support the economic recovery.

Regarding interest rates, Zou said that the central bank will continue to cut the financing costs to aid enterprises and consumers. Since the beginning of this year, the one-year and five-year benchmark lending rates have dropped by 0.1 and 0.35 percentage points, respectively. However, the narrowing of banks' net interest margins would constrain further cuts in the central bank's policy rates.

The PBC said that it will stick to the supportive monetary policy, accelerate the implementation of previously introduced policy measures, and provide stronger support for high-quality economic development. 

It will utilize a variety of tools to ensure that overall liquidity remains reasonably ample, "aligning the scale of social financing and money supply with the expected targets for economic growth and price levels," Zou said. 

On the structural front, the PBC said it will improve the efficiency of fund utilization and provide high-quality financial services to support strategic industries and vulnerable sectors of the economy. 

The central bank has clearly manifested its firm commitment to maintaining the supportive monetary policy, which will help bolster market optimism, Zhou Maohua, an economist at China Everbright Bank, told the Global Times on Thursday.

"We do not rule out the possibility of the central bank implementing further RRR cuts and use structural tools in response to changes in the macroeconomic landscape, in order to ensure that market liquidity remains reasonably ample," Zhou said.

Given the domestic low-price environment, there is ample room for more favorable policy tools to be utilized, Zhou noted.

The world’s leading solar technology company, LONGi Green Energy Technology Co., Ltd. (hereafter as "LONGi"),?released its semi-annual report for 2024. Amidst the continuous transformation and challenges in the PV industry during the first half of 2024, the company achieved a business revenue of 38.529 billion yuan. Silicon wafer shipments totaled 44.44 GW (with 21.96 GW sold externally), while solar cell sales reached 2.66 GW externally. Additionally, module shipments amounted to 31.34 GW, with a remarkable year-on-year increase of over 140% in the Asia-Pacific region. Despite the significant decline in industry chain prices and elevated inventory challenges, the company demonstrated strong resilience and adaptability in the market.

Asia-Pacific sales surge; HPBC 2.0 brings industry reformation

In terms of capacity and shipment, LONGi has shown strong productivity and market competitiveness. In the first half of the year, LONGi's BC series module shipments reached 10 GW, and its excellent performance is gaining widespread market recognition. The significant increase of 140% in sales volume in the Asia-Pacific region not only highlights LONGi's deep foundation in the international market but also lays a solid foundation for expanding  global footprint

Based on the high-efficiency HPBC 2.0 cell technology, LONGi has launched the Hi-MO 9 bifacial module product for the utility market. By introducing advanced composite passivation technology and high-reliability back-contact interconnection technology, and leveraging the core advantages of the company's high-quality TaiRay silicon wafers—such as high resistivity concentration, effective impurity absorption, and strong mechanical properties—the module's mass production power has reached 660W. This is more than 30W higher than similar-specification TOPCon modules.

At the same time, the conversion efficiency of Hi-MO 9 has jumped to 24.43%, the bifacial rate has broken through 70%, and the anti-crack ability has increased by 80%. It has obvious advantages over TOPCon products in aspects such as temperature coefficient, degradation, and resistance to uneven light radiation. These excellent performances not only lead the industry by a large margin but also win more opportunities and market share for LONGi in domestic and international markets.

It is worth mentioning that LONGi's module products, with their excellent performance, have won the RETC "Highest Achievement" award for the 6th consecutive year and the PVEL Reliability Test "Best Performance" award for the 7th time. This series of honors is a high recognition of LONGi's technical strength and product quality by the PV industry and beyond. In addition, the company has also won the PV-Tech module bankability highest rating of AAA for the 18th time in a row, further consolidating LONGi's leading position in the global photovoltaic financing market.

It has been revealed that in the next three years, LONGi's mono-crystalline silicon wafer annual production capacity will reach 200 GW, with "TaiRay" silicon wafer capacity accounting for more than 80%; BC cell annual production capacity will reach 100 GW; mono-crystalline module annual production capacity will reach 150 GW, providing a solid support for the company to recover ahead of the industry.

BC advantages emerge, and utility power station procurement opens BC section

In response to the rapid development and technological evolution of the PV industry, LONGi has consistently demonstrated its insight and a forward-looking strategy. In the first half of the year, the company announced the resolutions from the 2023 annual shareholders’ meeting, including the approval of the "Proposal on Public Issuance of 10 Billion Yuan of Corporate Bonds." The funds raised will primarily be allocated for the development of advanced technologies, such as "TaiRay" silicon wafers and HPBC 2.0 cell technology. The goal is to accelerate the industrial iteration of BC and other new technologies, further enhance the company’s competitiveness, and create a new growth driver for the PV industry.

Technological innovation is key to LONGi's continued leadership in the industry. As of the end of the reporting period, the company has secured a total of 3,166 authorized patents, including nearly 200 related to BC technology, establishing a strong and deep technological moat. During the reporting period, the company achieved notable recognition for its technological contributions in the photovoltaic field. Two of its scientific research projects won the 2nd prize for the National Science and Technology Progress Award and the 2nd prize for the National Technical Invention Award, respectively. This achievement makes LONGi the first private enterprise in China’s photovoltaic sector to receive the highest national science and technology honors as both the primary completing unit and the first completer.

With the progress of the first phase of the Xixian New Area’s 12.5GW project, the Tongchuan 12GW project, and other HPBC 2.0 cell and capacity transformation projects, a significant increase in production capacity is anticipated. The HPBC 2.0 product will enter the market on a large scale by the end of 2024, and it is expected that the company's BC production capacity will reach 70GW (with HPBC 2.0 capacity of about 50GW) by the end of 2025, and all domestic cell bases are planned to be fully migrated to BC products by the end of 2026. The company has achieved smooth customs clearance for shipments to the North American region, and the 5GW module factory in the United States is now officially operational. This development provides substantial support for the company's business expansion in North America. These strategic implementations not only show LONGi's deep insight into the future PV market but also reflect its determination and strength as an industry leader to promote technological progress.

It is worth mentioning that the excellent power generation performance and low decay performance of the company's BC series modules have been proven by a large number of market proofs. After 7 months of outdoor proof by the National Centre of Supervision and Inspection on Solar Photovoltaic Product Quality (CPVT), LONGi's Hi-MO X6 anti-dust module has an average monthly power gain of 2.84% compared to conventional modules, with the highest monthly relative gain of 5.4%. This proof result not only verifies the excellent performance of LONGi's products but also provides strong data support for its further expansion in the PV market.

In addition, on August 15th, the announcement of the 2024 photovoltaic module (second batch) framework agreement procurement tender by China Huaneng Group brought new momentum to the market application of LONGi's BC module technology. Notably, the third section includes a 1GW BC module procurement, marking the first time state-owned energy giants have issued a separate tender for BC modules. This represents a significant step forward for the application of BC technology in the domestic utility-scale PV market. As a leader in BC technology, LONGi is well-positioned to capture a larger share and gain a competitive edge in this emerging market.

Chinese scientists have successfully developed ultra-high pure graphite, reflecting that the China's graphite products now reach the world's leading standards, Xinhua News Agency reported on Tuesday.

At a press conference held in Hegang, Northeast China Heilongjiang Province, Wang Jionghui's team from China Minmetals Co unveiled innovational breakthrough in graphite purification technology, successfully producing ultra-high pure graphite with 99.99995 percent purity. This achievement positions China as a global leader in the making of ultra-high pure graphite, according to Xinhua.

Wang's research team has revolutionized graphite purification process by developing a process in tandem with top equipment manufacturers in the country. Their innovative approach, which merges physical-chemical, low and high-temperature, and ultra-high vacuum purification, elevates graphite purity from 95 percent to 99.99995 percent, while ensuring stable product quality. Additionally, their integrated process significantly reduces production cost.

Ultra-high pure graphite, which contains more than 99.99 percent carbon, features excellent self-lubrication, conductivity, corrosion and high-temperature resistance, and chemical stability, Liu Enqiao, a senior analyst at Beijing-based Anbound Think Tank, told the Global Times on Tuesday.

"The higher the purity of graphite is, the better the graphite's lubricity, conductivity, corrosion resistance and chemical stability. Such materials are extensively used in advanced industrial sectors such as aerospace, superconductors, integrated circuits, and semiconductors," Liu stated. 

"Currently, the breakthrough is still at an experimental stage with its commercial viability still under evaluation. If commercialized, the pure graphite would enable China to play a prominent role in the market. The demand for high-purity graphite in cutting-edge industrial sectors has been growing, and the technological advancement could significantly liberate us in this field, reducing our dependencies," Liu added.

Founded in 1950, China Minmetals Co has taken metals and minerals as its core business, operating as a state-owned capital investment company.

It operates one of the world's largest graphite mines in Hegang city, Heilongjiang Province, with a facility producing 200,000 tons annually and has phased in a set of deep-processing industrial chain. Now, Wang's team is accelerating the development of high-end anode materials, nuclear-grade graphite, as well as semiconductor-grade graphite.

Monday marked the third anniversary since the establishment of the Beijing Stock Exchange (BSE) was announced by Chinese President Xi Jinping, the first bourse based in the capital city, at the China International Fair for Trade in Services in September 2021. Based on various institutional innovations and market reforms, the BSE has developed rapidly since its inception, and has become an accelerator that's turbocharging the growth of innovation-oriented small and medium-sized enterprises (SMEs).

Analysts envision the BSE evolving into a well-regulated, influential and dynamic stock market over the next few years, noting that improved capital market services for the country's sci-tech innovations will contribute to the development of new quality productive services in China and the country's economic upgrade and transformation.

Within about three years, the BSE has guided significant capital flow to SMEs engaged in technological breakthroughs, advanced manufacturing and green development, becoming an important force driving the development of new quality productive forces and specialized, high-end and innovation-driven SMEs, or referred to as "little giants."

Latest data from the BSE showed that the number of eligible investors has exceeded 7 million, with institutional investors including private equity, public funds and insurance firms, domestic news outlet Yicai reported on Monday.

As of Sunday, 251 companies are listed on the bourse, with the combined market capitalization hitting 300 billion yuan ($42.23 billion). High-tech companies account for more than 90 percent of the listed companies, the data showed.

"Different from Shanghai and Shenzhen stock exchanges, the BSE is a market more focused on early-stage, small, and innovative companies. Setting up the BSE is of vital importance in creating a multi-level capital market, improving support for SMEs, and promoting innovation-driven development," Wan Zhe, an economist and professor at the Belt and Road School of Beijing Normal University, told the Global Times on Monday.

Over the past three years, the development of BSE has always followed its strategic positioning and development goals, with multiple trading systems rolled out and various investors participating in market trading, Wan said.

"The BSE is a perfect platform through which SMEs can gain access to capital and then expand investment in research and development (R&D) and production," a general manager with a Beijing-based new material company told the Global Times on Monday. The manager declined to be named since the company is in the process of stock flotation on the BSE.

The launch of the BSE came only two months after China announced the plan for setting up a new stock exchange, a move widely welcomed by the market as it aims to address the long-standing financing conundrum of SMEs.

The China Securities Regulatory Commission in September 2023 released a 19-point set of guidelines to drive the high-quality development of the BSE, calling for listings of better-quality companies, more mutual-fund products to track the market and greater participation by overseas investors.

"Looking ahead, the BSE should accelerate the listing of high-quality innovation enterprises, especially by expanding the fundraising channel for 'little giants,' so as to form a reasonable market scale. Meanwhile, efforts are needed to strengthen market foundation, including law improvement, smooth delisting and investor rights protection," said Tian Xuan, vice president of the Tsinghua University PBC School of Finance.

The BSE should further improve capital market services, for example, rolling out BSE-themed creative investment products, boosting its opening-up and introducing long-term and overseas capitals, in a bid to sustainably spark market vitality and gather more high-quality innovation enterprises, according to Tian.

In January 2024, the corporate and enterprise bond market of the BSE started trading, marking a key step in the bourse's high-quality development. It only took 87 days from the release of relevant rules to bond trading, as the market once again witnessed the "speed of the BSE."

"The Chinese economy has shifted toward a stage of high-quality development and is currently at a critical period of transforming its economic development model. At the crucial moment, the BSE can take the Nasdaq Stock Market as a benchmark to step up support for tech innovations so as to contribute to the country's industrial upgrade and high-quality growth," Wan said.

In April, the State Council released a new guideline on strengthening regulations, forestalling risks and promoting the high-quality development of the capital market, which will provide strong guarantees for the healthy, long-term development of the country's capital market.

Chinese President Xi Jinping on Monday met with Comorian President Azali Assoumani, who is in Beijing for the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC).

Editor's Note:

Large models, robots, intelligent manufacturing, autonomous driving… In recent years, artificial intelligence (AI) has made headlines around the world.

In real life, AI has permeated all aspects of everyday life, helping with scientific research in laboratories, assisting in the restoration of mysterious ancient scrolls at archaeological sites, and helping rescue abducted children in the vast sea of humanity. The development of this technology has also raised a number of ethical and legal challenges. Many experts advocate that humans should see this technology as a tool created for the ultimate purpose of serving humanity, making life and work more efficient and comfortable.

In light of this, the Global Times has launched the "AI empowers industry, improves people's livelihoods" series, showcasing the tremendous energy and broad prospects that AI brings across every aspect of society.

This is the sixth installment in this series. The installment sets its sights on Paris, where global top athletes are vying for medals or personal bests. Behind Team China is the growing technological force, which helps them fight to win more scientifically and efficiently with AI tech. In China, the rapidly progressing AI not only plays a crucial role in high-level competitive sports, but also contributes significantly to the development of mass sports, and the popularization of sports culture.
Having jumped off the starting block and plunged into the water, Chinese swimmer Pan Zhanle, at La Défense Arena in Paris, won an Olympic gold medal in the men's 100m freestyle on Wednesday local time, breaking the world record amidst loud cheers.

This particular night echoed the past several months, when the Chinese swimmer and his teammates leaped into the water countless times during training sessions back home. At that time, their coaches and technical staffers gathered by the poolside around a screen, which displayed the complete process of a swimmer's start from the block and underwater movements, with data like the swimmer's entry distance and angle.

"Cameron van der Burgh (South African men's 100m breaststroke Olympic champion) made an entry angle of 37 degrees, which we can use as a reference." Fixating on the screen, they discussed the details of the swimmers' movements, probably for the umpteenth time.

They trained with the help of "SUS large sport model," China's first-ever large model designed for professional sports. Team China at the ongoing Paris Olympics is largely benefiting from AI, as the rapidly developing technology is widely used in China's various fields including competitive sports.

The very front line

Jointly developed by the Shanghai University of Sport (SUS) and a Chinese tech company, the SUS large sport model and its related technologies have been serving the daily training and Paris Olympic preparation of China's several national teams, such as diving, swimming, track and field, gymnastics, and rock climbing, according to Li Yongming, a SUS professor and member of the large model team.

With its vertical models that can study global sports literature data and automatically analyze videos and images from sports training and matches, the SUS large sport model assists athletes to better review and understand their performances with quantifiable metrics, and to make targeted training plans based on the metrics, Li told the Global Times.

As the Olympics unrolls in Paris, busy tech support staff are usually seen in venues apart from traditional personnel like coaches and team doctors. Then how much can AI help China's Olympic athletes striving for gold medal glory?

On Wednesday night local time, China pulled off an amazing 21-15 victory over gold medal favorites Serbia in a men's basketball 3x3 game. When the match ended, some Chinese tech support staff hurried away with videos they just shot during the game.
About one hour later, a detailed analysis with almost all the kinematics data relevant to this game came out. From every move of the players to their physical states, these data will effectively contribute to their post-match summary and preparation for the next match, said Zhang Mingxin, who directs the science and technology support team of the Chinese national basketball 3x3 team at Paris Olympics.

Based on a three-dimensional dynamic capture technology and algorithm, the AI system real-time tracks and analyzes the players' motions and the basketball's trajectories, explained Zhang, who is now in Paris. "Then we can obtain useful data, like a player's real-time load intensity and movement path, and AI-generated professional analyses according to the data," Zhang told the Global Times via phone.

All the dynamic capture process is completed without bothering players in the game, Zhang noted. "Comparing with the previous techs that might require players to wear uncomfortable censoring devices, this system does everything in a contactles way," he said.

Moreover, traditional dynamic capture technologies that depend on wearable censoring devices and GPS (Global Position System) usually have 30 to 40 centimeter margin of error, Zhang said. "But our new system has centimeter-level accuracy, leading the world in this (basketball 3x3) field," he told the Global Times.

This AI system is co-invented by SUS, Shanghai Artificial Intelligence Laboratory and a domestic tech firm. It can provide detailed data and analysis on a short turnaround time, helping the team better recover, prepare the next match and adjust tactics according to different opponents in tight schedule, said Zhang.

AI dynamic capture tech is also being used in Olympic preparations of some other Chinese national teams, such as archery. Xiu Yu, who is responsible for motion and technology analysis of the archery team, earlier told media that more than 10,000 data are generated for every arrow shot by the athlete.

"After processing and analyzing the data, [the AI system] will form a report for which is passes to team coaches," Xiu told to People's Daily in April.

Customized training based on intelligent analysis of big data are widely used in the training of Chinese athletes, said Chen Xiaoping, a distinguished research fellow from the China Institute of Sport Science affiliated to the General Administration of Sport of China.

"The overall improvement of scientific training level is an important way to improve [athletes'] performance," People's Daily quoted Chen as saying on April 8. "Behind the competition of competitive sports is a showdown of technological strength and proficiency."

Being part of the pageant

Only being a spectator of the Paris Olympics is somewhat outdated for China's younger generation. Instead of passively sitting in front of the TV, some young Chinese prefer to actively get involved in the Olympics, being a part of this global sports pageant in creative ways.

China AIGC (AI-generated content) Industrial Alliance, for instance, holds a themed event during the Olympics, inviting AIGC lovers to create Olympic-related picture, music, video works with generative AI tools. The event has received more than 70 unique submissions, with most of the participators being millennials and Gen Zers, according to the alliance's initiator Ni Kaoming.
Ni shared some of the highlight works they have received, including an interesting AI-generated animated video that tells the magical journey of a panda to the Olympics. "Although there are some limitations on the use of Olympic elements due to copyright concerns, such as the Olympic rings, there are still many high-quality works that well express the Olympic charm and spirit," Ni told the Global Times.

Chinese tech companies are also offering various creative AI products being specifically designed for the Paris Olympics, which have attracted lots of young Chinese users.

Gen Zer Elaine (pseudonym) shared how she enjoys the Olympics in Shanghai through AI tools. While watching a diving match on Wednesday, she interacts with the event with a "virtual diving expert" - an AI agent of renowned former diving Olympic champion Wu Minxia - on her phone. When the event ends, she uploads her profile photo to an AIGC platform, and seconds later she got an AI-generated poster of her "attending" an Olympic diving match as an athlete.

"And before the Olympics began, I had had a virtual tour to Paris last week with the help of an AI large model," she told the Global Times.

AI does benefit the dissemination of the Olympic spirit and sports culture, Ni noted. "With AI technology, people get much closer to the Paris Olympics, its host city and athletes, and thus make them feel more connected with this pageant," he told the Global Times.

Great sporting potential

The AI market in sports industry is expected to grow from $5.93 billion in 2024 to $20.94 billion by 2029, at a CAGR (compound annual growth rate) of greater than 28.69 percent, according to data from market research company Mordor Intelligence.

Apart from the high-level competitive sports, mass sports is becoming a broader stage for AI applications in China. From last year, AI robots are gradually used in post-match rehabilitation of public marathon events across the country. The AI robots, as the robot team's director Li Xiaoning told the media in January, are more helpful and efficient than traditional rehabilitation ways of ice water and manual stretching.

The current 1.0 version of the SUS large sport model mainly focuses on competitive sports. Li said it will definitively cover mass sports in later versions, adding in more content that general public are interested in, such as how to exercise to lose weight.

The AI dynamic capture tech being used for the Chinese basketball 3x3 team has many potential application scenarios in mass spots as well, Zhang said.

He gave an example: the system can be changed into an AI coach that assists beginners of a certain sports to modify their incorrect moves.

"Also, AI tech can mark people's sport performances by evaluating their moves, and that may encourage entertaining competitions and interactions among friends," he added. " In general, AI will bring sports lovers more fun while making them more productive."

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