Chinese leading securities firm Guotai Junan Securities has announced it will merge with smaller rival Haitong Securities in a bid to build a first-class investment bank and promote the high-quality development of the industry, with both companies having halted trading from Friday.

Guotai Junan plans to take over Haitong by way of absorption and a share exchange, through which shares will be issued to holders of Haitong's yuan-denominated A-shares and Hong Kong-listed H-shares, according to separate statements from the two companies.

The merger requires approval from each company's boards and shareholders, as well as regulatory authorities, their statements said. Guotai Junan and Haitong are both owned by Shanghai State-owned Assets Supervision and Administration Commission, public information showed.

According to the companies' financial results in 2023, the combination of the two financial institutions is set to create a giant brokerage with total assets of 1.68 trillion yuan ($236.9 billion), the biggest in the industry in China, domestic news site the Securities Times reported on Friday.

It's worth noting that this is the first major merger in China's financial industry since the release of the State Council Nine-Point Guideline in April, a document that mapped out plans to boost the capital market through 2035.

"The merger of the two securities firms will help give better play to each other's advantages, improve their layout in key areas and key industries so as to strengthen their competitiveness and better serve the real economy," Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times on Friday.

More importantly, the move will help integrate Shanghai's advantages to build a first-class investment bank that is in line with the city's status as an international financial center and enhance the city's global influence, Xi said.

The Central Financial Work Conference held in Beijing last October pointed out efforts to boost the competitiveness and influence of Shanghai as an international financial center. It also said it is essential to improve institutional positioning, support large state-owned financial institutions in becoming stronger and better, playing a major role in serving the real economy, and being a cornerstone of financial stability.

Xi said more mergers and acquisitions are expected in the country's financial sector to strengthen the allocation of resources and deepen the financial sector's role in serving the real economy.

Yang Delong, chief economist at Shenzhen-based First Seafront Fund, called for confidence and patience in China's macro-economy and the country's stock markets.

"Efforts are needed to step up fiscal policies, for example, the release of more consumption vouchers to stimulate spending and the improvement of people's well-being, to bring back social confidence. With these forceful measures, the A-share market is expected to reverse a weak situation and show an upward trend," he said.

Chinese and US commerce and trade officials will hold a meeting in North China's Tianjin Municipality next month to exchange views on a wide range of issues, including economic and trade policies, China's Ministry of Commerce (MOFCOM) announced on Thursday, adding to growing interactions between officials of the two countries.

At the meeting, Chinese officials will express concerns over issues, including the intensifying US crackdown against Chinese businesses and products, including Washington's plan to impose additional tariffs on Chinese products, according to Chinese experts.

At a press conference on Thursday, He Yadong, a spokesperson for the MOFCOM, announced that China and the US have agreed to hold a vice-ministerial meeting of the China-US commercial and trade working group in Tianjin on September 7.

The meeting will be co-chaired by China International Trade Representative and Vice Minister of Commerce Wang Shouwen and the US Under Secretary of Commerce for International Trade Marisa Lago. The two sides will exchange views on a wide range of issues, including their respective concerns about economic and trade policies, appeals from businesses and practical cooperation, the MOFCOM spokesperson said.

This will be the second vice-ministerial meeting of the commercial and trade working group. The first was held in Washington in April, where the Chinese side expressed concerns over issues, including the US Section 301 tariffs on Chinese goods, an overstretched concept of national security, sanctions on Chinese businesses and unfair treatment toward Chinese companies, the MOFCOM said at the time.

The announcement of the meeting on Thursday came as Chinese and US officials have increased interactions recently. On Tuesday and Wednesday, Wang Yi, director of the Office of the Central Commission for Foreign Affairs and a member of the Political Bureau of the Communist Party of China Central Committee, held a new round of candid, substantive and constructive China-US strategic communication with US National Security Advisor Jake Sullivan in Beijing.

In mid-August, Chinese and US officials held the fifth meeting of the bilateral Financial Working Group in Shanghai, where the two sides had "professional, pragmatic, candid and constructive" talks to ensure financial stability.

He Weiwen, a senior fellow at the Center for China and Globalization, said that increasing bilateral dialogue is necessary to address certain issues of concern to both sides and help stabilize bilateral ties, especially in the economic and trade fields.

"Maintaining this type of dialogue mechanism is correct and necessary," He Weiwen told the Global Times on Thursday. "The two sides must rely on dialogue to maintain normal economic and trade ties and reduce artificial disruptions."

The Chinese side will express concerns over restrictions imposed by the US on many Chinese products, including hefty additional tariffs on Chinese electric vehicles (EVs). "These restrictions have caused serious disruptions to normal trade and investment relations between China and the US," He Weiwen said.

In one of the latest crackdowns against Chinese products, the US government is expected to announce implementation plans for tariff hikes on Chinese products, including EVs, this week, Reuters reported. However, the move is facing growing criticism from US domestic industries amid concerns over increasing costs.

Such moves by the US not only undermine bilateral economic and trade cooperation, but will also have a profound negative impact on global cooperation to address climate change, said Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation.

Given the importance of China-US ties, "it is necessary for the two sides to have sufficient, effective and timely communication to avoid miscalculations," Zhou told the Global Times on Thursday, noting that the two sides should focus on finding solutions to address disputes through such talks.

The China International Big Data Industry Expo 2024 concluded in Guiyang, Southwest China's Guizhou Province, attracting over 21,000 guests and 414 domestic and international companies, an official from the National Data Administration (NDA) told a press conference on Friday.

The expo, a major indicator of leading big data development, represents China's "digital appointment" with the world and its "development appointment" with the future, analysts said, adding that the diversity of exhibitions, showcased the latest trends in digital innovation and highlighted the importance of international cooperation in the digital sector.

New policies and leading technological achievements were unveiled at the expo, with over 1,300 new products and technologies on display. Additionally, 154 research and technical achievements were presented at the event, Wang Xudong, an NDA spokesperson said on Friday.

Many attendees observed a significant increase in the variety of applications across different industries at this year's expo, with large language models being one of the spotlights. The Global Times reporter learned from several industry insiders that the rapid advancement in artificial intelligence (AI) technology is a key driver behind the growing demand for computing power in traditional industries.

This year marks the 10th anniversary of the China International Big Data Industry Expo. The event has showcased numerous cutting-edge technologies and applications, ranging from autonomous driving, virtual reality, humanoid robots, digital humans and large language models.

"After a decade of development, the expo has emerged as a crucial platform in the country's data field, leading innovation trends, showcasing industry achievements and promoting opening-up and cooperation," according to Liu Liehong, head of the National Data Administration.

A record number of over 3,000 enterprises participated in the events, with global exhibitors showcasing their latest achievements in AI, data analysis, edge computing, and the Internet of Things, according to Jing Yaping, director of the Guizhou Big Data Development Administration. For instance, a Malaysian company, MEA, displayed high-grade air purification equipment and products, while Statista from the United States presented digital transformation solutions in quantitative data statistics.

This year's expo also provided a platform for Chinese and foreign companies to showcase the benefits of China's digital industry growth, with participants from foreign industry leaders such as Apple and Intel, as well as 77 overseas companies from over 30 countries and regions, including the US, France, Germany, Canada and Russia. Some expressed that China is leading the way in developing data industry and the digital economy, and expressed eagerness to enhance global collaboration.

Thorsten Tolksdorf, secretary general of the International Data Space Association, praised China's rapid development in the digital economy and expressed hopes to deepen interactions with Chinese companies and institutions through the expo, according to China Media Group.

Ginz Ooi, founder & CEO of Malaysian digital marketing agency Webqlo, highlighted the strong digital cooperation between China and Malaysia, noting China's impressive growth in the digital economy and e-commerce sectors over the past five years. Success stories like the expansion of Chinese e-commerce giants and the popularity of social media platforms such as TikTok and Xiaohongshu in Southeast Asia demonstrate the competitiveness of Chinese digital enterprises in overseas markets.

"Strengthened cooperation, especially in e-commerce, has created win-win opportunities for both Malaysian and Chinese enterprises," Ooi told the Global Times on Friday.

At the expo, an investment fair gathering 80 businesses from China and Arab States, was held, representatives like Doris Wang from an asset management company in the Arab region was one of the participants.

India's scrutiny of Chinese investments poses a dilemma for its own development, with political and economic considerations intertwined. It is imperative for India to strike a delicate balance between protecting national security and promoting economic development. Without enhancing mutual trust, India will struggle to boost Chinese investments that are vital for the advancement of its manufacturing sector.

Indian Foreign Minister Subrahmanyam Jaishankar said at the ET World Leaders Forum on Saturday that it's "common sense" to scrutinize Chinese investments, noting that many countries do the same for security reasons, Indian media reported. 

His remarks, to a certain extent, reflect India's attitude toward China on geopolitical and security issues, an important reason why India remains distrustful of Chinese investments. 

Such an attitude is influenced by some Western countries, particularly the US, which view China as a "security threat" and has pushed for "decoupling" from China. 

The result of India following the West in overstretching the security concept in economic issues is that India's investment policy toward China has fallen deeply into a security dilemma. On the one hand, India needs Chinese investments to promote the development of its domestic manufacturing, but on the other hand, it is wary of Chinese investments due to fears over potential "security risks." 

These dual concerns not only fail to effectively promote India's manufacturing development but also exacerbate its domestic divisions. Some Indian media reports said that Indian electronics manufacturers have suffered losses due to restrictions on Chinese businesses.

It is understandable that every country has its own legitimate and reasonable system for reviewing foreign investments. But since the Indian government in 2020 implemented restrictions on foreign direct investment (FDI) from countries sharing land borders with India, its scrutiny of Chinese investments has been particularly strict. 

The fundamental reason why India conducts strict scrutiny of Chinese investment is actually a trust issue. The deep-rooted hostility toward China among some Indian elites, interest groups and Western lobbyists continues to take advantage of the lack of mutual trust between China and India to influence decision-making in New Delhi. However, restricting Chinese investment cannot promote the development of Indian manufacturing, but instead affects India's investment appeal.

In the fiscal year 2023-24, India's actual FDI decreased by 37 percent year-on-year to $26.6 billion, according to Indian media reports - the lowest level since 2006-07. The development of the manufacturing sector relies on industrial clusters composed of small and medium-sized enterprises, and India's restrictions on Chinese investments are not conducive to the formation of the Indian manufacturing ecosystem.

Indeed, anyone who knows something about bilateral trade and investment understands that at present cooperation with China is essential for India's manufacturing development.

Despite India's imposition of economic and trade restrictions on China, trade between India and China has actually increased. In the fiscal year 2023-24, China once again became India's largest trading partner. According to India's official data, bilateral trade reached $118.4 billion. Data from the India-based Global Trade Research Initiative showed that 98.5 percent of the goods that India imported from China are industrial products, accounting for about 30 percent of India's total industrial imports, Indian media reported.

The trade figures demonstrate the complementarity of the industrial chains between China and India, which provides huge potential for cooperation. India needs to recognize that if it wants to achieve rapid development of its manufacturing sector, easing restrictions on Chinese investments and improvements in its business environment are necessary measures. 

China and India need to improve their mutual trust, especially India needs to trust Chinese investment, and enhanced economic and trade exchanges are conducive to this process. This is what really makes sense both economically and politically.

China on Sunday announced the release of the standard sheet music and official recording of the Chinese national anthem - "March of the Volunteers," with this year marking the 75th anniversary of the founding of the People's Republic of China and the 75th anniversary of the Chinese national anthem.

The standard sheet music for the national anthem includes orchestral, wind ensemble, and piano accompaniment scores. The official recording versions of the national anthem include orchestral version, orchestral choral version, wind ensemble version, and wind ensemble choral version, according to the State Council Information Office at a press conference on Sunday.

The released standard musical score for the national anthem has not made any changes to the melody, but focused on four areas of improvement, including standardized cover, title page, and publishing notation, unified tempo markings, as well as standardized expression terms.

The national anthem "March of the Volunteers," has lyrics by poet Tian Han and music by Nie Er. The original song greatly encouraged Chinese soldiers and civilians during the Chinese People's War of Resistance against Japanese Aggression (1931-1945). It was chosen as the national anthem in 1949.

Wu Zeng, an official from the Commission for Legislative Affairs of the National People's Congress (NPC) Standing Committee, stated at the press conference that the release of the standard sheet music and official recording of the national anthem will enhance the seriousness and standardization of its performance, broadcasting, and usage, uphold the image and dignity of the country, strengthen national consciousness and patriotism, and further promote the national spirit centered on patriotism.

China's National Anthem Law came into force in 2017 to ensure appropriate performance of the song, the Xinhua News Agency reported. 

Now, National Anthem Law, National Flag Law and National Emblem Law together constitute a relatively complete legal system of national symbols in China, Wu said.

The anthem shall be sung at formal political gatherings, including the opening and closing of National People's Congress sessions, constitutional oath ceremonies, flag raising ceremonies, major celebrations, awards ceremonies, commemorations, national memorial events, important diplomatic occasions, major sport events and other suitable occasions, according to the National Anthem Law.

The Ministry of Public Security of China released details of four cases of combating and rectifying illegal activities related to toxic fan culture in sports on Thursday. Since the Paris Olympics, the cybersecurity departments of the Public Security Bureau have been paying close attention to this issue and have been combating related illegal activities.

Among these cases, a suspect, He, was found to have posted defamatory content about table tennis players and coaches on social media, causing significant social harm. The Beijing Public Security Bureau took criminal compulsory measures against her on August 6. 

Another suspect, Wang, was found to have repeatedly posted abusive and defamatory content about table tennis players and coaches on social media, causing significant social harm. The Guangzhou Public Security Bureau took criminal compulsory measures against her on Tuesday. 

Suspects Gai and Xu were found to have created and widely spread an article questioning a Paris Olympic champion on social media. This article caused negative social impact. The public security bureaus in Shandong and Hebei respectively have imposed administrative penalties on them. 

Another suspect, Yang, was found to have publicly abused a gymnastics athlete on social media, causing a negative social impact. The Henan Public Security Bureau has imposed administrative penalties on her.

These posts are malicious and false, posing significant risks. Recent actions have led social media platforms to clean up thousands of posts related to controversial discussions and malicious attacks.

“Most of these so-called fans do not understand or appreciate the professional skills or talents of famous athletes. Instead, they tend to focus solely on the athlete's image and appearance,” Wang Dazhao, a Beijing sports commentator, told the Global Times.

To support their idols, fans in this toxic culture see no teammates, only enemies. Anyone who hinders their idol's pursuit of victory becomes a target for attack, Wang noted.

Recently, some toxic fans have been aggressively leading discussions and attacks on various social media platforms, organizing and spreading derogatory comments, even fabricating scandals and spreading conspiracy theories.

“Those who invade others’ privacy should be punished, while those who do not violate criminal laws should be guided and warned through positive and healthy education,” Wang said.

Previously, some irrational fans were detained by the police for posting inflammatory and defamatory comments against Chinese athletes and coaches after the women's singles table tennis final at the Paris Olympics. The General Administration of Sport of China and the Chinese Olympic Committee condemned these comments, and the impact was limited.

The intrusion of toxic fan culture into the sports arena is not new and is not limited to summer sports; winter sports also face similar issues.

“In the past two years, there has been a phenomenon of sports becoming fan-centric, which has caused significant distress to some athletes,” Yang Yang, China's first Winter Olympic gold medalist, noted in a recent interview.

Table tennis player Fan Zhendong has also faced harm from toxic fans, including illegal intrusion into hotel rooms, exposure of personal information such as ID cards and phone numbers, and harassment at the airport.

Not only athletes but many sports enthusiasts and even viewers are harassed by these toxic fans for merely mentioning or commenting on their favored individuals.

“I faced cyberbullying because I mentioned an athlete’s poor performance online,” a person who was once targeted by extreme sports fans told the Global Times on condition of anonymity.

The anonymous victim expressed concern that such online behavior could lead to real-world violence. “I was worried that I might be ambushed when going out one day and was also concerned that my family might be harassed,” he noted.

Chinese swimming champion Pan Zhanle, who recently broke a world record at the Paris Olympics, disbanded his only fan group on Monday. 

He previously mentioned in a CCTV interview that many people were waiting downstairs at the hotel to get his autograph. 

The 20-year-old swimming prodigy is using his own way to say “no” to toxic fan culture.

“Be more low-key and keep things quiet,” Pan advised his fans.

Big Fish & Begonia, Nezha: Birth of the Demon Child, New Gods: Yang Jian... Chinese animated works inspired by China's folk myths have introduced Chinese imagination and aesthetics to international audiences one after another. The rising box-office revenue and hot discussions prove that audiences love to watch Chinese animation. Behind these vivid depictions of Chinese aesthetics and amazing details is China's rapidly developing cloud rendering technology. 

"We have to race against time to ensure that the movie White Snake: Afloat could be released in time for the summer movie season while maintaining a high standard for the visuals," Bian Jinwei, operations and maintenance director of Light Chaser Animation, told the Global Times. "With the cloud rendering from China's tech companies, we can accelerate the post-production process."  

Rendering is the last step of CG imaging. It is also a very important step in animated films. Most film and television special effects and animation works presented in cinemas or on streaming platforms require post-synthesis CG. In those cool and explosive visual blockbusters, virtual characters, props, scenes, and special effects are all inseparable from this process.

According to Bian, film and animation studios used to complete this process with their own computers, which required a lot of waiting. In some cases, wait times for rendering could be one fourth of a whole production.  

China's CG workshop MORE VFX, which is responsible for the special effects of Chinese blockbuster The Wandering Earth 2, revealed that they once worked for six months on a 50-second-long scene. Each time the director proposed revisions, the rendering alone took at least one month to finish. 

In the case of White Snake: Afloat, the time was even longer, said Zhang Liang, a technician from Tencent Cloud. 

After watching the movie, audiences were amazed by the detailed visuals, as they could "distinguish the texture of the clothes on the big screen as being silk or cotton." 

Such special effects come from the powerful processing and computation brought by cloud rendering as "the total rendering time of the film reached 252 million core hours, 80 percent of which were used on rendering the lighting," said Zhang.

The introduction of cloud rendering technology has not only improved efficiency, but also breaks through many limitations of traditional animation production. 

Through the processing of high-performance computing resources and cloud servers, the rendering cycle of the film was reduced by 43 percent.

China's General Administration of Sport held a meeting on Wednesday to address the growing issue of toxic fandom culture, or "fan circle" behavior, within the sports industry, reported the China Sports Daily.

Director of the administration Gao Zhidan stressed that the crackdown on toxic fandom should be integrated into the broader ideological work of the sports system. He called for a strong stance against the escalating "fan circle" behaviors and urged the removal of the conditions that allow such a culture to thrive in the sports domain.

Gao said the increasing influence of fandom culture has disrupted the sports sector and posed significant risks to its healthy development. He also urged to be highly vigilant against the tendency toward the excessive commercialization of sports.

The meeting follows recent statements from the Chinese Table Tennis Association and the Chinese Gymnastics Association on August 17, both of which expressed support for law enforcement actions against illegal activities related to toxic fandom.

On August 15, the Ministry of Public Security disclosed details about four cases in sports.

Olympic women's 3m springboard champion Chen Yiwen revealed on Instagram on Wednesday that she had been the target of malicious rumors spread by two sports journalists. According to the chat screenshots she released, the other party even threatened to add stimulants to Chen's food to get her banned for life.

During an interview aired on August 18, table tennis star Fan Zhendong expressed concerns about the pressure caused by fandom culture, saying it has negatively impacted both his performance and the team's unity.

Pan Zhanle, a 20-year-old swimming prodigy who broke a world record at the Paris Olympics, disbanded his fan group. Pan previously mentioned in a CCTV interview that some fans waited for autographs outside his hotel and he said he just "hoped to be low-key and quiet."

During the women's singles final at the Paris Olympics on August 3, which featured Chinese players Sun Yingsha and Chen Meng, some fans displayed favoritism toward Sun while booing Chen when Chen defeated Sun to become the women's singles champion.

During an interview on August 7, Chen urged fans to appreciate the athletes' determination and approach competition outcomes with a balanced perspective, rather than focusing solely on the results.

"Most of these so-called fans do not understand or appreciate the professional skills or talents of famous athletes. Instead, they tend to focus solely on the athlete's image and appearance," Wang Dazhao, a Beijing based sports commentator, told the Global Times. "To support their idols, fans in this toxic culture see no teammates, only enemies and anyone who hinders their idol's pursuit of victory becomes a target for attack."

"Those who invade others' privacy should be punished, while those who do not violate the Criminal Law should be educated and warned," Wang said.

Last month, several social media platforms, including Sina Weibo and Douyin, announced measures to combat toxic fandom, such as removing harmful content and suspending or banning related accounts.

China's housing authority said on Friday that it will accelerate the construction of the new model for real estate development as a major reform task for the sector's upcoming work. The focus of the acceleration work will be on six aspects, including the urban real estate financing coordination mechanism, and a white list of developers for financing. 

Observers noted that the implementation of the real estate financing coordination mechanism has been progressing, while the foundation for developing the new model has been further consolidated as some issues in the real estate sector are cleared up.  

Financial support will be granted for qualified projects, aiming to promote a change in financing for developers from relying on company credit to being based on the project's situation itself, Dong Jianguo, vice minister of housing and urban-rural development, told the press conference on Friday. 

Dong also stressed the importance of giving full play to the urban real estate financing coordination mechanism, to include as many eligible projects in the white list as possible, as an important means to ensure the delivery of commercial housing projects. 

Currently, domestic commercial banks have approved more than 5,300 projects under the white list mechanism with approved loans amounting to nearly 1.4 trillion yuan ($196.15 billion), which are being disbursed in accordance with the projects' progress, and have strongly supported the delivery of project construction, Dong said. 

The urban real estate financing coordination mechanism has been promoted effectively, and is also a systematic effort to promote housing delivery and mitigate risks, Yan Yuejin, deputy director of the E-house China R&D Institute in Shanghai, told the Global Times on Friday. 

The mechanism will ensure more home buyers actually move into their properties next year, and will be conducive to boosting consumer demand for home property services, Yan said. 

In addition, China is also advancing reforms in its real estate sector by promoting the sale of properties upon their completion, signaling a shift from the traditional pre-sale model, which is another of the above-mentioned six points of focus. 

Commenting on developing the new model for the real estate sector, Ni Hong, minister of housing and urban-rural development, said that the government should be the mainstay in meeting fixed housing needs, while the market should be the mainstay in meeting diversified and improved housing needs from a systematic perspective. 

Ni also vowed to reform and improve the mechanism for the development, trade, and use of the real estate sector.

Yan noted that the reform and improvement in the mechanism is an important institutional safeguard, and expected major pragmatic changes to take place. 

China and Russia will boost all-round cooperation with exploration in emerging fields and bilateral ties will not be weakened by the sanctions and containment imposed by the US and its allies, Chinese analysts said on Thursday after the two countries signed a joint communique of the 29th regular meeting between the Chinese and Russian heads of government and a new version of the outline of the China-Russia investment cooperation plan.

Visiting Chinese Premier Li Qiang on Wednesday voiced China's readiness to work with Russia to strengthen all-round cooperation to lift the China-Russia comprehensive strategic partnership of coordination for a new era to a new level, the Xinhua News Agency reported.

Li made the remarks when co-chairing the 29th regular meeting between the Chinese and Russian heads of government with Russian Prime Minister Mikhail Mishustin. In the joint communique issued Wednesday, the two sides agreed that joint efforts will be made to optimize trade structure, create new growth points for the two countries' economies and trade, and promote the development of e-commerce, Xinhua reported.

With 2024 and 2025 designated as the China-Russia Years of Culture, the two sides also agreed to take it as an opportunity to deepen people-to-people exchanges, consolidate popular support for friendship, constantly strengthen the internal driving force of bilateral cooperation, and improve the quality of cooperation.

According to the text of the joint communique released by the Chinese Foreign Ministry, the two countries will boost all-round cooperation in many fields, and in addition to traditional areas like trade, investment, finance and energy, it also includes pragmatic cooperation on artificial intelligence (AI) technology, cybersecurity, and aerospace cooperation.

Yang Jin, an associate research fellow with the Institute of Russian, Eastern European and Central Asian Studies at the Chinese Academy of Social Sciences, said that the joint statement shows that China and Russia will keep deepening and expanding their pragmatic cooperation regardless of the impact and pressure from the US and its allies, and it's a certainty that China-Russia relations will keep developing to reach new heights in the future. 

Cui Heng, a scholar from the Shanghai-based China National Institute for SCO International Exchange and Judicial Cooperation, said that apart from planning for pragmatic cooperation, the two countries are also looking forward to solving the problem caused by the blockade, isolation, long-arm jurisdiction and sanctions imposed by the US and some of its allies, which are attempting to contain the rightful development of China and Russia.

"China and Russia will explore new trade routes and improve the interconnectivity on trade ports; the two sides also agree to jointly develop AI and boost cooperation among BRICS members to strengthen connections between industries among the emerging economies," Cui noted.