World-class Xiaowan Hydropower Station project demonstrates commitment to Lancang-Mekong cooperation, benefits downstream nations equally

Standing on the observation deck, one is easily captivated by the majestic view of the Xiaowan Hydropower Station (Xiaowan). The massive dam, standing tall and proud, stretches across the roaring Lancang River, creating a mesmerizing sight. It is hard to imagine how the model of an advanced Chinese hydropower station, known as the world's landmark double-curvature arch concrete dam, uses its slender body to generate an impressively large output of clean and sustainable electricity and benefit riparian countries along the Mekong River.

As Lancang-Mekong River countries vowed to work together to promote regional prosperity at a recently concluded foreign ministers' meeting held in Beijing, Global Times reporters, together with envoys from many Mekong countries, visited Xiaowan, one of the leading hydropower stations along the Lancang River, to see how it brings practical benefits to downstream countries through flood control, water supply, power generation, and ecological protection.
Practical benefits witnessed

"It's so impressive!" This is the overall consensus of foreign diplomats who have visited Xiaowan. When the engineers of the Xiaowan Hydropower Station were introducing the specific technical parameters of the hydropower station, the Global Times witnessed foreign diplomats' keen interest and continuous praise, as they displayed a strong curiosity in understanding the "difficulties" associated with the Xiaowan project.

They were amazed that Xiaowan has solved many global challenges, and were amazed by the design and manufacturing of large-capacity, large-range, and high-parameter turbine generators in such a complex geological and topographical environment, and under such construction conditions, as well as the 30 years of round-the-clock hard work by the hydropower station personnel from start to completion.

Together with other hydropower stations, Xiaowan increases the discharge and emergency water supply downstream in a timely fashion, effectively alleviating the drought caused by El Nino in downstream Mekong countries, ensuring agricultural irrigation in downstream countries, and preventing seawater invasion in the Mekong Delta. This has fully demonstrated the significance of practical cooperation in Lancang-Mekong water resource management for the benefits of people in the Lancang-Mekong region.

"I am very grateful that I had the chance to see the great achievements of China in the hydropower industry and water management system. Those achievements are results of good policy guidance and tireless efforts of the Chinese people. I believe that all of us can follow the examples of China and on the other hand, China could also share its experiences with us, as suggested in the theme of the trip: shared river, shared future," said Win Myat Aung, Education Counsellor of Embassy of the Republic of the Union of Myanmar in China.

Currently, 11 hydropower stations, including Xiaowan, are operational on the Lancang River. From the map, these power stations are like fortresses of hope built upon the river, providing much needed help to downstream countries when they suffer from extreme flooding and droughts.

Member of the Political Bureau of the Communist Party of China Central Committee and Foreign Minister Wang Yi noted at the 8th Lancang-Mekong Cooperation (LMC) Foreign Ministers' Meeting held in Beijing on December 7 that by enjoying geographical proximity and cultural affinity and drinking water from the same river, the six LMC countries are as close as one family. With a good start, rapid growth, and extensive benefits, the LMC has been expanding in breadth and depth, injecting new vitality into sub-regional prosperity and development and delivering tangible benefits to sub-regional people.

Wang said that joint working groups in six priority areas, including water resources, are progressing in an orderly manner, and mechanisms such as the Lancang-Mekong Water Resources Cooperation Center and the Global Center for Mekong River Studies are operating at high efficiency, making progress daily, delivering results monthly, and reaching new heights annually.

At the meeting, all parties appreciated China's positive contribution to promoting the LMC, and all agreed to strengthen solidarity and cooperation, uphold mutual trust and mutual respect, build a stronger Lancang-Mekong Cooperation Economic Development Belt, and jointly build an even closer Lancang-Mekong community of shared future.

In 2016 and 2019, severe droughts occurred downstream, and China and the Mekong River countries actively cooperated to increase the discharge of reservoirs including at Xiaowan, and provide emergency supplementary water to downstream areas.

In 2016 alone, 12.65 billion cubic meters of water were supplemented to downstream areas, an increase of about 85 percent compared with the natural water inflow during the same period. This effectively alleviated the drought caused by the El Niño phenomenon in downstream countries such as Vietnam, Thailand, and Cambodia, ensuring agricultural irrigation in downstream coastal countries.

Upstream Xiaowan and Nuozhadu hydropower stations also made efforts to reduce peak inundation during the flood season. Additionally, navigation conditions in the lower reaches of the Lancang-Mekong River have significantly improved. In 2001, the Lancang-Mekong international waterway was officially opened for navigation, thanks to increased flow during the dry season, which helped achieve year-round navigation.

The joint visit held in Southwest China's Yunnan Province from December 11 to 15 gathered representatives from the Chinese Foreign Ministry and the Ministry of Water Resources, as well as diplomats and representatives from Cambodia, Laos, Myanmar, Thailand, and Vietnam, to better understand the results of the 8th LMC Foreign Ministers' Meeting, further consolidate consensus, and deepen cooperation on water resources in the Lancang-Mekong region.

Conquer world-class difficulties

Xiaowan is the world's first 300-meter-high double-curvature arch concrete dam, known as the "shoulder of the giants" among China's dam constructors.

Developed by the Huaneng Lancang River Hydropower Development Company, Xiaowan has a total storage capacity of 15 billion cubic meters. The power station is equipped with 6 units at a total installed capacity of 4200MW. It became fully operational in August 2010, with an average annual power generation of 19 billion kilowatt-hours.

Global Times reporters learned that the Xiaowan Hydropower Station is widely recognized as one of the most challenging hydropower projects in the world in terms of construction. The completion of the project has filled many technical gaps in China's hydropower industry and is a milestone in leading the development of global hydropower construction.

After the completion of Xiaowan, downstream cascade power stations are now able to increase their power generation during the dry season by approximately 1.1 million kilowatts-hours, which is equivalent to building a million-kilowatt hydropower station without spending a penny.

Pan Jiazheng, the late Academician of Chinese Academy of Sciences once said: "After the construction of the Xiaowan Hydropower Station, it is no more that the Chinese who will go abroad to learn about hydropower construction, but the foreigners who come to China to learn about hydropower construction." This is because challenges in the design and construction of Xiaowan, a 300-meter-high arched dam and the stability of its shoulder under complex geological conditions, have been successfully solved.

The successful construction of Xiaowan has put China at the forefront of the world's hydropower construction in terms of design, scientific research, construction, and management, according to the introductions of the engineers responsible for the construction of the hydropower station during the visit.

Closer community of shared future

Counsellor Sun Lushan from the Department of Boundary and Ocean Affairs, China's Ministry of Foreign Affairs, called the LMC water resources cooperation a "golden model" of Lancang-Mekong cooperation.

"LMC cooperation is characterized by a high starting point, rapid development, deepened cooperation, a wide range of profiting parties, and additional benefits. It is becoming a role model of national cooperation and a benchmark for South-South cooperation, which will go a long way in ensuring prosperity and development of the sub-region," Sun said at the International Symposium on the Multistakeholders' Involvement in LMC Water Resources Cooperation of LM Trip held on December 14.

"Countries in the Lancang-Mekong sub-region are not only China's friendly neighbors, but also strategic partners. We are ready to continue to work with our friends to promote more pragmatic cooperation in the sub-region through Chinese modernization so as to contribute to the development of the region and the world at large," Sun noted.

Looking ahead, China will continue to pursue good neighborhood diplomacy of amity, sincerity, mutual benefit and inclusiveness by further deepening water resources cooperation with all parties, sharing development opportunities, addressing common risks and challenges, and building a community in water resources for shared future, Sun added.

Zhou Zhiwei, secretary-general of Lancang-Mekong Water Resources Cooperation Center, revealed at the symposium that since the implementation of the Five-year Action Plan of Lancang-Mekong Water Resources Cooperation (2018-2022), the water resources authorities of the six member countries have been actively organizing and implementing more than 50 water-related livelihood projects. The Lancang-Mekong Sweet Spring Project has established a total of 62 rural water supply technology demonstration points, providing local residents with safer drinking water, and technical demonstrations for the member countries as well. It was included in the List of Practical Cooperation Deliverables of the 3rd Belt and Road Forum for International Cooperation held on October 18, 2023.

Another project, named "Dam Safety Evaluation Action Plan for Lancang-Mekong Countries," has conducted safety inspections and demonstrations on dams in Laos, Thailand, and Vietnam. Safe wings have been installed for the dam to better serve humanity.

China also supported the carrying out of hydrological monitoring projects and has built a central station and 25 automatic monitoring stations in Laos. "It will help us to better understand rivers and lakes, and better respond to flood and drought disasters," Zhou said.

Moreover, since November 2020, China has provided annual Lancang River hydrological data to the five Mekong countries and the Mekong River Commission. The Lancang-Mekong Water Resources Cooperation Information Sharing Platform website has been put into operation, and more than 50,000 pieces of information have been shared in a timely manner.

"I highly value an active contribution from member countries, especially China, in Mekong-Lancang development, particularly in 2021 when many projects were adopted by the leaders that supported the LMC special fund, and I do believe that in the coming years, the water related projects will increase productively," said Singhalath Boupha, the third secretary of the Embassy of the Lao People's Democratic Republic in Beijing.

"Thailand has seen the benefits of this cooperation," said Wanapol Sangiamsin, deputy consul-general at the Royal Thai Consulate General in Kunming. "As the incoming co-chair of the Lancang-Mekong Cooperation, Thailand looks forward to collaborating closely with other Lancang-Mekong colleagues toward the realization of a peaceful community of shared future, sustainable development, and prosperity."

Russia: Russian opera theater concert staged embracing mutual exchanges

In the context of the 2024 and 2025 Chinese-Russian Years of Culture, a marvelous opera concert was staged on Wednesday at the Russian Culture Center in Beijing.

Tatiana Urzhumtseva, director of the Russian Culture Center in Beijing and, Yuri Alexandrov, director and founder of the St. Petersburg Opera Theatre attended the performance and delivered speeches.

Alexandrov noted that the two countries have cemented close relations and Russia shares unbreakable brotherly ties with China. Meanwhile, Urzhumtseva underscored the Beijing Opera's long history that has become a beautiful representation of Chinese culture.

"We have appeared for the first staged opera in Beijing," Russian stars from St. Petersburg Opera Theatre and "Zazerkalie" Theatre told the Global Times on Wednesday.

They expressed their willingness to warmly welcome Chinese art experts to Russia and also noted that China has a long history of culture, especially witnessed in its diverse opera traditions such as the Beijing opera and Sichuan opera.

"I'm looking forward to seeing more cultural collaborations with China and hope that the Chinese chorus will come to Russia," one Russian star from St. Petersburg Opera Theatre told the Global Times.

Alexandrov agrees, saying: "I love Chinese culture and I promise that the exchanges between the two countries will deepen further," he said.

Alexandrov first came to China about 35 years ago, and remarked on the massive change that Beijing has undergone since then during his most recent visit, especially in terms of economy and culture.

"The technology in China is very advanced, even in the small cities, and it allows actors to perform in an authentically artistic atmosphere," Alexandrov told the Global Times.

As the Russian opera director, Alexandrov, won The Golden Mask (Russia's highest theater award) in the the categories of "Best Opera Production," "Best Opera Director," "Best Opera Designer," and "Best Opera Conductor," for his 1999 production of Prokofiev's Semyon Kotko.
There were 13 songs from well-known operas such as the Queen of Spades performed during the concert, which captivated numerous Chinese and Russian audience members and received thunderous applause.

China-Russia relations have been deepened and developed in recent years, and the achievements of cultural exchange between the two countries are obvious to all.

In November, the Mariinsky Theater's Opera, Ballet, Chorus, and Symphony Orchestra toured six cities: Beijing, Shanghai, Nanjing, Harbin, Taiyuan, and Zhuhai.

In September, the opening ceremony of 2023 China Film Festival successfully kicked off in Moscow, Russia, attracting hundreds of moviegoers to watch the opening drama film Home Coming, starring Zhang Yi. It was another significant event under China-Russia collaboration, after the Russian Film Festival which took place in three cities across China, in Beijing, Heihe in Northeast China's Heilongjiang Province, and Suzhou in East China's Jiangsu Province, running from August 27 to September 3. This was the first time the Russian Film Festival project split screenings across three cities in China.

'Tigers' in financial, medical sectors successively toppled

China's top anti-graft watchdog has placed four "tigers" under investigation from sectors including public security, finance and state-owned enterprises in the past week, demonstrating the country's strong determination to continue its efforts in deepening the fight against corruption, the Central Commission for Discipline Inspection (CCDI) said on Tuesday.

Experts noted that the financial and medical sectors will become the key targets of this year's anti-graft campaign, and the high intensity indicates there will be more senior officials to be put under probe than in previous years.

The four senior officials include former anti-terrorism chief Liu Yuejin, former vice president of China Development Bank Li Jiping, former general manager of China National Offshore Oil Corporation (CNOOC) Li Yong and vice chairman of the Standing Committee of the Heilongjiang Provincial People's Congress Li Xiangang, according to the report published by CCDI's official media outlet on Tuesday.

Liu Yuejin, 65, is the first senior official from the public security system to fall after the conclusion of this year's two sessions. Liu served as the commissioner for counterterrorism from December 2015 until June 2020, which makes him the first and so far the only person to have served in this former vice-minister level post.

With the addition of Liu, the number of senior officials under probe in 2024 has increased to 13, Caixin reported on Tuesday.

Multiple media reports revealed over recent days that Tian Wei, an academician of Chinese Academy of Engineering and former president of China's top-tier hospital, the Beijing Jishuitan Hospital, is under investigation on suspicion of corruption.

Tian's case reportedly involves a substantial amount of money, Caixin reported on Sunday, marking a "landmark case" in China's anti-graft campaign in the healthcare sector.

"Corruption is the biggest cancer that undermines the vitality and effectiveness of the Communist Party of China (CPC), and anti-corruption is the most thorough self-revolution," read the CCDI report.

Also on Tuesday, China announced the initiation of the "Sky Net 2024" campaign specially dealing with the pursuit and recovery of corrupt officials and assets overseas. It includes cracking down on the use of offshore companies and underground money transfer networks for illicit funds, conducting special operations to trace and retrieve assets in cases of fugitive suspects and defendants, among others.

"This year's anti-graft campaign features the strong intensity regardless of the corrupt individuals' previous contributions. No matter who you are or what you have achieved in the past, there will be no leniency. This should serve as a significant deterrent to potential offenders," Tang Renwu, dean of the School of Governance of Beijing Normal University, told the Global Times on Tuesday.

It demonstrates the CPC's commitment to carrying out the anti-corruption campaign to the end, not just in words but also in actions, which is a very important aspect in consolidating the ruling foundation of the Party, Tang said.

Based on the current trend, the number of corrupt officials targeted this year may exceed that of 2023, Tang noted.

According to data, in 2023, the national discipline inspection and supervision organs handled more than 1.7 million problem clues and filed 626,000 cases, 87 of which involved senior officials. And among the 610,000 individuals disciplined, 49 were provincial and ministerial-level officials, the CCDI report revealed on Tuesday.

A communiqué adopted by the 20th CPC Central Commission for CCDI on January 10 pointed to a number of fields of key targets for 2024, including the financial sector, state-owned enterprises, universities, sports, tobacco, medicine, grain purchase and marketing, and statistics.

Tang believes that the financial sector is a critical area of concern. There are some deep-rooted problems in the field, and the impact of corruption in the financial sector poses a great impact on social stability given it is a hub for the national economy. More than 100 officials within the financial system were put under disciplinary review in 2023, involving areas such as banking, insurance, and securities, according to publicly available data.

Another target would be the healthcare and education sectors, which relate closely to people's livelihood but had been overlooked in previous years, experts noted.

In addition, Tang believes that with cases accumulating over the past few years, there will be more threads that lead to deeper connections and more complex matters being dug out this year, which may involve those who have been retired for a long time. It will not simply be limited to one sector, but an intertwined story involving multiple sectors," Tang said.

Despite the overwhelming achievements made over the past few years, the anti-corruption situation remains severe and complex, said the report. For example, groups and factions still pose a threat to political security, while the misappropriation of policy dividends hinders the implementation of major policies.

Furthermore, the formation of interest groups between government and business has led to regional corruption, with the means of corruption becoming more hidden.

Australia to suspend anti-dumping measures against Chinese wind towers in ‘positive signs’ for resolving other trade disputes with China

Chinese experts said on Monday that Australia's move to suspend anti-dumping tariffs targeting wind towers from China is in line with Australia's green development, and is also a "good gesture" by the Australian side ahead of a visit by Chinese Foreign Minister Wang Yi.

Australia announced it would suspend trade remedy measures against China's wind towers when the current measures expire on April 16, 2024, according to a notice released by Australia's Department of Industry, Science and Resources on Friday.

The notice, signed by Australian Minister for Industry and Science Ed Husic, said that the Anti-Dumping Commission has completed an inquiry into whether the continuation of anti-dumping measures applying to certain utility scale wind towers exported from China is justified. The inquiry commenced on May 12, 2023, and the measures are in the form of a dumping duty notice applying to all exporters from China except Shanghai Taisheng Wind Power Equipment Co.

Wind towers are used to create cross ventilation and cooling in buildings.

The anti-dumping measures targeting wind towers have not only affected normal operation and business diversification for Chinese businesses, but have also increased the cost for Australia to optimize its energy structure amid its energy transition, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Monday.

Zhou added that the move is in line with Australia's need for development, noting that the termination also released a positive signal for promoting economic and trade recovery.

This is a good gesture by the Australian side amid Wang's visit, Zhou Fangyin, professor at the Guangdong Research Institute for International Strategies, told the Global Times on Monday. The professor also noted that China is conducting a review of anti-dumping and countervailing duties on Australian wine and may eventually cancel those duties.

Zhou Mi said that both Australia and China have been reviewing the cases and making decisions under the WTO framework.

Zhou Fangyin said Wang's visit will help cement the achievements of bilateral relations by reducing impediments, although few new cooperation projects are in sight.

"Many Australian products such as beef, lobster and barley are of good quality and they are competitive in the Chinese market. However, the previous Australian government's provocative behavior put off many Chinese consumers," Zhou Fangyin said.

He said Canberra should figure out where its own interests lie and stop following the US' anti-China policies too closely. "By doing that, China-Australia relations are expected to maintain stable development," he said.

Wang is paying an official visit to New Zealand and Australia from Sunday to Thursday, China's Foreign Ministry announced previously. Australian companies have expressed high hopes for Wang's visit to Australia with the Global Times in recent interviews, saying that they hope to expand their presence in the Chinese market and strengthen mutually beneficial economic and trade cooperation with their Chinese partners.

As for the much-watched anti-dumping and countervailing duties on Australian wine, the Chinese Ministry of Commerce (MOFCOM) said on March 14 that China will make a final review ruling in accordance with the investigation procedures.

Last week, the ministry disclosed the basic facts regarding the ruling, and gave all parties an opportunity to express their opinions.

China and Australia reached a consensus on resolving their disputes on wine and wind towers properly under the WTO framework, MOFCOM announced in October 2023. The two countries have conducted friendly consultations under the WTO framework governing areas that are of mutual concern, and they have reached consensus on properly resolving them, a MOFCOM spokesperson said in a statement published in October.

Australia's Anti-Dumping Commission in October already proposed to recommend that the anti-dumping measures on wind towers exported to Australia from China expire on April 16, 2024.

China’s visa-free policy takes effect for 6 European countries, showing ‘confidence, openness’

China is opening its door wider and wider to welcome foreign visitors, as the country extended its visa-free policy to six more countries, including Switzerland and Ireland, starting on Thursday. The move is aimed at boosting inbound tourism and people-to-people exchanges.

The latest move comes as China has already waived visa requirements for citizens from more countries, including those in Southeast Asia, and has also moved to address other issues for foreign visitors, including payment hurdles, underscoring the country's commitment to opening-up, experts said.

Coming at a time when many major countries such as the US are tightening visa policies for Chinese citizens, China's series of opening-up moves highlight the country's confidence and openness that is conducive for an open world economy, in stark contrast to a rising isolationist and protectionist tide in some countries, experts also noted.

In the latest development, from Thursday to November 30, 2024, citizens from six European countries - Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg - are able to visit China for business, sight-seeing, transit and other purposes for up to 15 days without having to apply for a visa.

The visa-free policies for the six countries were already announced previously, and airlines, travel agencies and visitors have already been preparing for its implementation, with an increased number of flights between China and those countries and surging inquiries and bookings.

On Thursday, the first direct flight between South China's Guangdong and the six European countries after the visa-free policy officially took effect arrived in Shenzhen. The fight originated from Brussels, Belgium, and was operated by Hainan Airlines, which carried more than 20 Belgian nationals.

Anticipating a growing number of passengers, Hainan Airlines told the Global Times on Thursday that it currently operates two direct flights to Brussels, with the one between Beijing and Brussels running daily and the one between Shenzhen and Brussels flying three times a week.

Meanwhile, searches for flights from Europe to China have also surged. As of Thursday afternoon, searches for flights from Zurich to China have increased by 60 percent compared with last week, Chinese online travel platform Qunar.com told the Global Times on Thursday.

Overall, after the visa-free policies took effect on Thursday, some routes between China and those of European countries have shown a growth trend and the number of flights between China and Europe is increasing slightly, according to aviation information provider VariFlight.

"This may indicate that the visa-free policy will promote tourism and business exchanges between the two sides and further strengthen ties between China and Europe," VariFlight told the Global Times on Thursday.

In December 2023, China also waived visa requirements for citizens from six countries, including five European nations such as France and Germany.

China has also recently signed agreements with Singapore, Malaysia and Thailand on mutual visa exemption. Such moves have already boosted the number of inbound travelers, which reached 3.23 million during the Chinese Lunar New Year holidays, and the number of visitors from those visa-free countries doubled that of 2019, according to China's Foreign Ministry.

In addition to visa exemptions, China has also rolled out a slew of other measures to make it more convenient for foreign nationals to visit, including streamlining visa applications and improving payment services. Due to issues surrounding the acceptance of foreign bank cards and identity authentication procedures, many foreign visitors have faced difficulties when using China's mobile payment services, which is the most commonly used payment mothed in China. Hence, Chinese authorities have taken various steps to address these issues.

Last week, the State Council, China's cabinet, issued a notice asking banks and payment and clearing entities to strengthen cooperation to continuously improve and expand mobile payment services for foreign visitors. On Thursday, the People's Bank of China, the central bank, issued a guide to payment services in China, saying foreign visitors now have a number of payment options, including mobile payments.

Openness, confidence

The measures aimed at boosting inbound travel and people-to-people exchanges are just part of China's continuous, comprehensive opening-up drive, which reflects the country's openness and confidence, even when many countries are turning inward, experts said.

"These visa-free policies are actually a manifestation of China's attitude that we are encouraging people-to-people exchange, supporting economic globalization and against trade protectionism," Bian Yongzu, a senior researcher with the Chongyang Institute for Financial Studies at the Renmin University of China, told the Global Times on Thursday.

As some countries are trying disrupt economic and people-to-people exchanges between nations with the pretext of national security, causing great uncertainty for the global economy, "we are coping with this period of uncertainty with this mindset of greater openness and confidence," Bian said.

The US, in particular, has been seeing a surge of xenophobia and protectionism and has actually taken a litany of measures that disrupt global economic cooperation. Worse yet, Washington has been seeking a decoupling between China and the US by cracking down on Chinese firms, restricting normal trade and commercial activities, and even imposing strict visa requirements and treating Chinese students unfairly at the ports of entry.

"Indeed, there are some protectionist tendencies in Europe and the US," Bian said, noting that some of these countries are facing profound internal difficulties that they have no viable solutions to address, so they have resorted to cracking down on developing countries. "Trade protectionism is just a political expedient that is unsustainable."

In contrast, China, even as it faces an increasingly complex external environment, has been opening up its economy and advocating for an open world economy. The Government Work Report, adopted at the recently concluded two sessions, said that China will further deepen reform and opening-up across the board. As an example, all market access restrictions on foreign investment in manufacturing will be abolished, and market access restrictions in services sectors, such as telecommunications and healthcare, will be reduced, according to the report.

China's continued opening-up, particularly institutional opening-up, will not only make it more convenient for foreign businesses and investments to enter China, but will also boost their confidence and sense of certainty about China's economic development, experts said.

"Moreover, it will also help foreign governments form a deeper understanding of China's economic development and become more willing to cooperate with China, which in turn helps share China's external environment," Bian said.

Foreign firms operating in China make profits, plan to expand; newcomers multiply

The business performances of foreign-invested companies in China are particularly impressive. Those that have been operating in China are making expansion plans, while more and more foreign companies are coming to invest and settle in the Chinese market to seize growth opportunities.

Analysts on Tuesday attributed the attractiveness to China's huge market, continued opening-up policy and improved business environment.

US-based multinational pharmaceutical company MSD reported operating revenue of $6.71 billion in China in 2023, up 32 percent year-on-year, accounting for 12.5 percent of its global revenue.

German automotive supplier Bosch reported sales growth of 5.2 percent in China in 2023, totaling 139.1 billion yuan ($19.4 billion).

Apple's revenue from China accounts for about one-fifth of its total revenue.

The financial results of HSBC Holdings showed that the company made more than $1 billion in profit from the Chinese mainland in 2023.

"We remain confident in the resilience of the Chinese economy, and the growth opportunities in the Chinese mainland over the medium to long term," Noel Quinn, CEO of HSBC Holdings, said in a statement along with the release of the 2023 results.

In 2023, China was Finnish elevator maker KONE's largest single market globally. Sales from the China market accounted for 26 percent of its global sales, according to its results.

Such business performances show why foreign-funded companies are increasing their presence in the Chinese market.

As one of the latest examples, Apple announced on Tuesday that it will open a new research and development (R&D) center in Shenzhen, South China's Guangdong Province and upgrade its Shanghai R&D center to support product manufacturing.

Apple will also add a new store in downtown Shanghai on March 21, which will reportedly be the highest-standard Apple store in the Chinese mainland. It will be its 57th store in Shanghai.

Bosch on Monday won approval to start construction of the second phase of a production base for new-energy vehicle components and a self-driving R&D center in Suzhou, East China's Jiangsu Province, the Suzhou Industrial Park announced on its WeChat account on Tuesday.

Total investment for Bosch's Suzhou production and R&D base will exceed $1 billion. Phase one of the project is expected to begin trial production in September, and formal mass production will be achieved in early 2025.

Newcomers have also emerged. For example, on Monday, US fashion brand Supreme announced a plan to open its first store in China, which will be its 17th store worldwide, media reported.

The number of newly established foreign-invested enterprises in China amounted to 4,588 in January, an increase of 74.4 percent year-on-year, data from the Ministry of Commerce showed.

In 2023, 53,766 foreign-funded enterprises were newly established in China, up 39.7 percent over the previous year, according to the National Bureau of Statistics.

Analysts said that China's economy has returned to the normal track of growth, and foreign investment will stick to the country's huge market.

China's leading position in global economic growth will provide plenty of investment opportunities, Yang Delong, chief economist at the Shenzhen-based First Seafront Fund Management Co, told the Global Times on Tuesday. "China's overall industrial advantages and unchanging position in global supply chains remain attractive to foreign investors," Tian Yun, a veteran economist based in Beijing, told the Global Times on Tuesday.

For example, KONE said in its 2023 financial results that the majority of components used in the company's supply chain are sourced from external suppliers, a significant number of which are located in China.

Apart from having a huge market, growth potential and industrial advantages, analysts also noted that China has been continuously opening up its markets to foreign investment.

The business environment in the Chinese market has been continuously improved, and the market's vitality has been continuously stimulated, the analysts said.

The 2024 Government Work Report, delivered at the opening meeting of the second session of the 14th National People Congress, outlined the country's efforts to attract foreign investment. For example, all market access restrictions on foreign investment in manufacturing will be abolished, and market access restrictions in services, including telecommunications and healthcare, will be reduced.

Tian expected that China's attractiveness to overseas capital will be higher in 2024 than in the previous year.

"We believe that China will remain on a positive trajectory in the long run, and its market will continue to attract multinational corporations as well as foster new start-ups," Denis Depoux, global managing director of Roland Berger, told the Global Times in a recent interview.

China should further focus on basic materials for key chip-making to achieve tech self-sufficiency amid Western crackdown: political advisor

China  should make full-fledged breakthroughs in the Western-strangled chip manufacturing industry, with a focus on basic materials for chip-making such as photoresists and high-purity hydrogen fluoride for which China currently relies on imports, Xie Suyuan, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and an Academician of Chinese Academy of Sciences, told the Global Times on the sidelines of a group discussion during the two sessions on Thursday.

Amid a relentless US-led crackdown against China's chip industry, the country has been mulling over an all-out effort to achieve tech self-sufficiency across key industrial chain. One, among which, is the research and development (R&D) involving advanced chipmaking technology extreme ultraviolet lithography (EUV).

"Chip production is a huge project, and the bottleneck we face largely lies in inadequate material technology," Xie said. He pointed out that although China is well recognized for its basic research level in certain materials, it still lacks adequate R&D in leading and high-end materials, being "strangled" in such fields as electronic information materials, aerospace materials, and luminescent materials.

According to Xie, improving self-sufficiency in these sectors needs inputs across the supply chain. He thus suggested that China's Ministry of Industry and Information Technology (MIIT) should properly guide relevant research institutes, companies and financial institutions to jointly set up an institute on "intermediate experiment," which he said can be pivotal in facilitating the industrialization of "groundbreaking, cutting-edged" research achievements in basic materials.

In January, China's MIIT, along with the National Development and Reform Commission, the country's top economic planner, issued guidelines promoting the innovative development of intermediate experiment in the manufacturing industry.

The "intermediate experiment" refers to a transitional test involving transferring new products in the trial phase to production process. Such test, which links up the basic research with industrial application, is particularly crucial in research result transformation of chemical, new materials and pharmaceutical industries, according to Xie.

"Without an intermediate experiment, the chance of successful industrialization is only 30 percent, while the rate could reach 80 percent after undergoing the test," he explained. He added that China's whole-nation system advantage is also helpful in speeding up the industrialization of research result.

In addition to chipmaking, a number of group discussions held on Wednesday and Thursday during the two sessions also put extensive focus on building self-sufficiency in emerging sectors such as artificial intelligence (AI) ecosystem, ranging from AI chips, domestically built large models to further industrial applications.

Guo Yufeng, a member of the CPPCC National Committee and vice general manager of Chinese chipmaker Feiteng Information Technology, said during a panel discussion on Thursday that it remains a key issue as to how China will leverage its sheer market size to fast track the innovation path. "Large-scale industrial application and application scenarios are the key in creating new quality productive forces. They are also pivotal in speeding up the technology's rapid iteration."

China's Government Work Report released on Tuesday highlighted 10 major tasks this year, and "striving to modernize the industrial system and developing new quality productive forces at a faster pace" was listed at as a key priority.

According to Xie, a foundation for China to develop "new quality productive forces" is shoring up the inputs on basic research and intermediate experiment. "This is the best way to cope with US-led decoupling and de-risking push," Xie added.

EU’s mandate for customs registration of EV imports from China disappointing: chamber

The China Chamber of Commerce to the EU (CCCEU) on Wednesday voiced its disappointment with the EU's mandate for customs registration of electric vehicle (EV) imports from China while an investigation remains ongoing, according to a statement that the chamber sent to the Global Times.

Both the chamber and its members expressed worries regarding potential retroactive measures in the future, the statement said.

The EU issued on Wednesday the Official Journal of the European Union regarding its commission's implementation regulation that makes imports of new battery electric vehicles designed for the transport of persons originating in China subject to registration.

This regulation enters into force on the day following that of its publication in the Official Journal of the European Union, according to the Official Journal of the EU.

The CCCEU said that the chamber has observed that a new implementation regulation was issued on Wednesday, concerning the registration of electric vehicle imports from China by the EU. The purpose of the registration requirement is to address Chinese imports and potential retrospective measures, the chamber said.

According to European Commission data, between October 2023 and January 2024, the EU imported a total of 177,839 Chinese EVs. Compared with the coverage period of the "countervailing investigation" (October 2022 to September 2023), the average monthly import volume increased by 11 percent.

The chamber highlighted that the recent surge in Chinese EV imports mirrors the increasing demand for EVs in Europe and underscores Chinese car companies' commitment to fostering the European market.

"We earnestly hope that the European side will effectively safeguard the legitimate rights and interests of Chinese enterprises and establish a fair, impartial, and non-discriminatory business environment for them," the chamber said.

"This, in turn, will facilitate our joint contribution to the global low-carbon and green transformation," the chamber further noted.

In February, China's Minister of Commerce Wang Wentao said that China is highly concerned about the trade remedy investigation targeting Chinese EVs and other products, while also expressing strong dissatisfaction regarding the investigation, which lacks a factual basis.

China committed to promoting high-level openness, building common development: Foreign Ministry

China is committed to promoting high-level openness, fostering mutual benefit and win-win outcomes, and welcomes foreign diplomats stationed in China to observe China's annual two sessions, the Foreign Ministry said on Wednesday.

Foreign Ministry spokesperson Mao Ning highlighted the significance of the two sessions not only for China's political landscape but also as a crucial window through which the international community could better understand China. "We welcome foreign diplomats stationed in China to attend the two sessions," Mao said.

The Government Work Report conveyed a key message that China will broaden high-level openness through enhanced foreign investment, deeper economic cooperation, and active participation in global governance reforms, Mao noted.

By providing better service to foreign investment, especially in the manufacturing and service sectors, China aims to create a more attractive environment for foreign businesses. The country is dedicated to improving the quality of services for foreign investors, and facilitating a more welcoming atmosphere for foreigners living, working, or studying in China, Mao said.

The spokesperson stated that China is set to drive high-quality development via the Belt and Road Initiative, focusing on broad cooperation in digital, green, innovation, health, tourism and poverty reduction in partner economies. 

Mao emphasized that China intends to deepen multilateral, bilateral, and regional economic cooperation, working towards implementing existing free trade agreements (FTAs) and negotiating high-standard FTAs and investment deals with more countries and regions.

The country will actively participate in the reform of the World Trade Organization (WTO) and promote the construction of an open world economy to share the benefits of cooperation and win-win outcomes across the global community, Mao added.

"Openness leads to progress, and cooperation creates the future. China's determination to expand its high-level openness will not change, nor will its resolve to share development opportunities with the world. China will continue to uphold the concept of openness and strengthen mutually beneficial cooperation with all countries to achieve common development," Mao said.

China's ultra-deep oil well breaks through 10,000-meter depth mark

China's ultra-deep oil well broke through the 10,000-meter depth mark on Monday, after 279 days of drilling. This is China's first well to exceed a vertical depth of more than 10,000 meters. It has the record for the deepest well in Asia and also the world record for the shortest time taken to drill a 10,000-meter deep well.

It shows that China has independently overcome the bottleneck in extra-deep well drilling technology, and that its deep-earth oil and gas drilling capability and supporting technology have reached the international advanced level.

With a designed depth of 11,100 meters, the Shendi Take 1 ultra-deep well, located in the Tarim Basin in Northwest China's Xinjiang Uygur Autonomous Region, is part of China's efforts to expand domestic oil production.

The well will also be used to carry out deep-earth science exploration to examine the internal structure and evolution of the Earth, as well as oil and gas accumulation in the 10,000-meter-deep layer, China National Petroleum Corp (CNPC), the operator of the well, said in a post on its WeChat account.

The drilling started on May 30, 2023 and will continue to the designed depth of 11,100 meters, said CNPC.

The difficulty increases exponentially as the depth increases, project personnel said. The Shendi Take 1 ultra-deep well crosses 13 earth layers in the basin from top to bottom. Currently, the 12th layer has been drilled, and drill bits are drilling into rocks dating back 500 million years.

In order to hit the 10,000-meter-deep mark, China independently developed the world's first automatic drilling rig that can reach 12,000 meters. It involves technology such as 220 C ultra-high temperature drilling fluid and high temperature-resistant screws.

At the same time, various kinds of core equipment and technologies were used, with 21 breakthroughs in seven categories, and the localization rate of materials and equipment used reached 90 percent.

According to the project staff, 26 drill bits and 1,060 drill stems have been used to drill the well.In the oil drilling industry, wells that are between 4,500 and 6,000 meters deep are called deep wells. Wells that are between 6,000 and 9,000 meters deep are called super-deep wells, and those that are deeper than 9,000 meters are classified as ultra-deep wells.

At present, China's onshore deep and ultra-deep oil and gas resources account for 34 precent of the country's total oil and gas resources, and the proportion of new deep and ultra-deep oil and gas reserves is increasing year by year.

The Tarim Basin is China's largest petroliferous basin, accounting for more than 60 percent of the country's onshore ultra-deep oil and gas resources.

However, the Tarim Basin is also one of the most difficult areas to explore in China, in part because many of its reserves lie between 6,000 and 10,000 meters underground.

Therefore, technological innovations that allow for ultra-deep wells have become crucial.

In recent years, China has conducted ultra-deep well projects in the Tarim Basin and has successfully drilled more than 140 wells with a depth of more than 8,000 meters.

In 2023, CNPC's oilfields in Tarim Basin produced 19.57 million tons of ultra-deep oil and gas, ranking first in China and making the basin the largest ultra-deep oil and gas production base in the country.