Latest news with #14thNationalPeople'sCongress
CNBC
07-05-2025
- Business
- CNBC
China to cut key lending rates by 10 points, bank reserve requirement ratio by 50 points
BEIJING, CHINA - MARCH 06: Pan Gongsheng, governor of the People's Bank of China, attends a new conference on economy for the third session of the 14th National People's Congress (NPC) on March 6, 2025 in Beijing, China. China's central bank and financial regulators announced sweeping plans on Wednesday to cut key interest rates in an effort to shore up growth in the face of trade worries. China will cut interest rates by 10 basis points and lower the reserve requirement ratio by 50 basis points, the central bank governor Pan Gongsheng said at a press briefing on Wednesday. Pan was speaking along with officials from the National Financial Regulatory Administration and the China Securities Regulatory Commission. The press conference took place hours after Beijing's affirmation that Chinese Vice Premier He Lifeng will hold talks with U.S. Treasury Secretary Scott Bessent in Switzerland later this week to discuss tariff and trade matters, in the latest sign that negotiations could begin between the two sides. This is breaking news. Please refresh for updates.
Khaleej Times
29-03-2025
- Business
- Khaleej Times
China and the UAE: Forging shared futures through strategic convergence
In March, as Muslims worldwide observe the blessed month of Ramadan, China welcomes its annual political highlight — the 'Two Sessions' comprising the third session of the 14th National People's Congress (NPC) and the third session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC). Serving as a vital window for the world to observe China's whole-process people's democracy, this year's meetings offer UAE observers not only deeper insights into China's development roadmap but also reveal striking alignment in the two nations' development philosophies and shared values — a convergence that unlocks new opportunities for bilateral cooperation. China and the UAE share development strategies anchored in economic growth and social welfare. According to a report on the work of the Chinese government, China's GDP rose to 134.9 trillion yuan, with a year-on-year increase of five per cent — ranking among the world's fastest-growing major economies and continuing to contribute about 30 per cent to global economic growth. A total of 12.56 million urban jobs were created, disposable income per capita grew by 5.1 per cent in real terms, and greater support was provided for compulsory education, basic old-age insurance, basic medical insurance, and social assistance. For 2025, China projects continued five per cent GDP growth while reorienting economic policy toward social priorities and promoting consumption: A series of new measures have been proposed in social security, assistance to disadvantaged groups, services for the elderly, and reducing the burden of childbirth, upbringing and education on families, highlighting China's adherence to the people-centred development concept. Concurrently, the UAE maintained robust GDP growth in 2024, rolling out citizen-centric initiatives in housing subsidies, healthcare modernisation, education reform, and infrastructure upgrades. Against a backdrop of global economic uncertainty, this strategic parallelism not only elevates living standards domestically but injects much-needed stability into worldwide recovery efforts. China and the UAE demonstrate convergent tech-forward trajectories. In 2024, China's national R&D expenditure surged to 3.6 trillion yuan, an eight per cent real-term growth, supporting nearly 500,000 enterprises holding valid invention patents. Five national innovation hubs were established in frontier fields including next-gen energy storage, micro-nano manufacturing, molecular pharmaceuticals, humanoid robotics, and embodied AI systems — yielding 672 critical technological breakthroughs and incubating 182 startups. New energy vehicle production surpassed 13 million units, capturing over 60 per cent of global output, while integrated circuit exports hit a historic high of 1.1 trillion yuan. The global ascent of Chinese generative AI — epitomized by DeepSeek's cost-efficient models rivaling Western counterparts — has reinvigorated confidence in nations like the UAE pursuing sovereign AI capabilities. China prioritises future industries Looking to 2025, China prioritises future industries from biocomputing to quantum tech, embodied intelligence, and 6G networks. Its 'AI Plus' action plan accelerates high-quality growth through intelligent manufacturing upgrades and industrial ecosystem expansion. Meanwhile, the UAE intensifies its innovation drive — Dubai's D33 Agenda is reshaping its digital economy through blockchain integration and smart city deployments. As technological disruption reshapes global value chains, this dynamic synchronization positions both nations to harness innovation dividends across their development matrices. China and the UAE exemplify a shared commitment to open, mutually beneficial global engagement. President Xi Jinping's declaration — 'China's door will never close — it will only open wider' — resonates through concrete action: the nation now serves as the primary trading partner for over 150 countries and regions, with 23 free trade agreements spanning five continents. In 2024, China's total trade volume surpassed 43 trillion yuan, cementing its eighth consecutive year as the world's top merchandise trader. Foreign investment inflows surged, evidenced by a 9.9 per cent year-on-year increase in newly established foreign-invested enterprises. Visa-free policies — including unilateral visa exemptions for 38 countries and transit visa waivers extended to 240 hours for 54 nations -- further streamline global connectivity. This commitment is mirrored by the UAE's meteoric trade growth. The Emirates' 2024 foreign trade hit record levels, with China-UAE bilateral trade exceeding $100 billion — solidifying China's position as the UAE's top trading partner for 11 consecutive years. Amid global headwinds of protectionism and deglobalization rhetoric, the two nations' synchronized pursuit of institutional openness positions them as the international community's go-to partners. Serving as twin anchors China and the UAE serve as twin anchors underpinning global development and stability. Since President Xi Jinping launched the Global Development Initiative (GDI) in 2021, this framework has delivered tangible results across developing countries. China's $4 billion Global Development and South-South Cooperation Fund (GDSSCF) has financed over 200 poverty-alleviation projects. On Palestine, China has dispatched four tranches of emergency humanitarian aid since October 2023. In May 2024, President Xi pledged an additional 500 million yuan for Gaza's reconstruction — complemented by 25 million yuan in food/medical supplies through GDSSCF channels. African partnerships showcase scale: 20 agricultural demonstration centres across 50 countries, 300 agricultural collaborations, 130 hospitals, 170 schools, 40 stadiums and capacity-building programs for 160,000 professionals. Meanwhile, the UAE marked nationwide celebrations of Sheikh Zayed Humanitarian Day, while Dubai launched the 'Father's Endowment' charity fund -- initiatives epitomizing Emirati values of generosity and civic dedication. Amid declining foreign aid commitments from some countries, China and the UAE stand united in delivering equitable and sustainable development opportunities for the Global South, emerging as a catalytic force accelerating collective progress across emerging economies. In 2025, China will solemnly commemorate the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War. As this year's rotating chair of the Shanghai Cooperation Organization (SCO), China will host the SCO Summit in Tianjin this autumn. Marking three decades since the Beijing World Conference on Women, China will convene another Global Women's Summit in the latter half of the year. This year also marks the 41st anniversary of diplomatic relations between China and the UAE. Standing at a new historical juncture, the peoples of both nations, under the visionary leadership of President Xi Jinping and President Mohamed bin Zayed Al Nahyan and driven by shared development approaches and values, will work together to forge an even brighter future.
Associated Press
12-03-2025
- Business
- Associated Press
China remaining largest contributor of global growth not a belief but pure algebra
03/12/2025, Beijing, china // KISS PR Brand Story PressWire // The 'two sessions' are not only a major political event in China but also a key window for the world to observe the country's democratic politics and development trajectory. This year, as in years past, the event has captured considerable global attention, highlighting China's ongoing development and its implications for the world stage. In the 'Unraveling the allure of China' series, the Global Times (GT) invites experts and scholars from around the world to delve into the multifaceted allure of China and explore how the lessons drawn from its unique experiences can provide valuable insights for other nations. In the sixth piece of the series, Global Times reporter Wang Wenwen talked to Margit Molnar (Molnar), head of the China Desk of the OECD Economics Department, about the significance of new quality productive force in maintaining China's economic growth and the effect the Chinese economy continues to have on the world economy. GT: The government work report delivered by Chinese Premier Li Qiang at the opening of the third session of the 14th National People's Congress on March 5 said that in 2024, solid headway was made in pursuing high-quality development and fostering new quality productive forces. The report also listed developing new quality productive forces in light of local conditions and accelerating the development of a modernized industrial system as a major task in 2025. Why do you think China attaches such great importance on new quality productive forces? Molnar: Factor-accumulation based growth is no longer an option for China, only productivity growth can secure sustained and steady economic growth. Since a few years ago, more attention has been paid to the quality of growth instead of purely its rate. This is a crucial switch of strategies toward sustainability in the longer term. However, the rate of growth is not something that can be completely ignored, as it is growth that creates employment and raises incomes. For that reason, it is the right choice to shift the focus on how to boost productivity. And there is ample room to do so, as the productivity gap with the frontrunner is sizeable, in particular in services, while it is smaller in manufacturing. Upgrading of the factors of production, including the capital stock and upskilling the labor force as well as adopting structural reforms, could all lead to stronger productivity growth. China's national program of promoting large-scale equipment renewals and replacing old consumer goods with new ones will enable greater productivity growth in the longer term. However, the large-scale investment in new equipment during the programs is a way of frontloading replacement investments, and in turn this will likely lead to lower investment in the coming couple of years. To compensate for that, other growth-enhancing measures, notably structural reforms, are needed. GT: New quality productive forces have been a buzzword at this year's two sessions. What new proposals or policy suggestions are you expecting from this year's two sessions? Molnar: As I see it since its inception, the term 'promoting new quality production forces' to me means boosting productivity. This is the only way economic growth can be achieved in a sustainable way. I would expect the two sessions to bring about more structural reforms that would ensure that the growth of productivity and that of the economy are sustained. While the impact of demographics weighs heavily on China's growth prospects, the good news is that through well-designed structural reforms there is room to boost the country's growth potential, which could potentially lift productivity. Moreover, including reforms that boost competition will have a positive effect on growth, a proven fact. Such reforms include further opening to foreign capital. As we saw recently, restrictions in the manufacturing sector have been removed entirely. China has also said that it will continue to relax market access restrictions for the services sector. GT: AI is empowering new quality productive forces in all aspects, from multiple angles and over a long period of time. China's AI development is advancing very fast. How can China's AI model drive its economic growth? Molnar: China is undoubtedly a frontrunner in AI and its applications are spreading to an increasing number of fields. AI can potentially boost economic efficiency as it frees up human resources to perform complex tasks that AI is not able to perform currently. Its data-processing ability enables managers to make better-informed decisions and reduce costs of business processes across the spectrum, just to mention a few channels through which AI affects growth. A widespread adoption of AI is for sure one of those tools that can boost productivity and hold up growth in the medium term. To ensure strong growth in the long term, more innovation with large impact, such as AI, would be needed. GT: In previous interviews, you voiced optimism of the Chinese economy and said you believe that China continues to be the driving force of the world economy. What makes you so confident? How do new quality productive forces promoted by China boost the world economy? Molnar: It is not a belief but pure algebra. In the past decade or so, China's contribution to global growth was close to 30 percent. The size of China's economy and its growth rate jointly make it the largest contributor. Let's not forget that China's economy is the second largest in the world and its growth rate is higher than those in other large economies. Even though there are some emerging growth poles around the globe with bright population prospects, the size of those economies is currently very small and even with high growth in the coming few years, they are unlikely to catch up with the frontrunners. Assuming that China's economy will slow only very gradually over the next 20-30 years as its per capita income approaches that of the OECD average, China will very likely remain the major driver of global growth in the medium term. To ensure a gradually slowing growth, there is ample room for structural reforms that could keep the growth potential relatively high over the coming decade or two. China's growth is fueling growth in other countries through its tight integration into production networks and by being a major trading country as well as investment destination and investor. In the past decade or so, Chinese innovation has also been contributing to the growth of other countries. This article first appeared in the Global Times: Website: City: Beijing Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Times of Oman
12-03-2025
- Business
- Times of Oman
China continues to hike its defence expenditure
Hong Kong: On 5 March, at this year's 14th National People's Congress, China announced its defense budget for 2025. The latest figure rises 7.2% year on year. Interestingly, Beijing maintained the growth rate of its military expenditure at precisely the same percentage as last year, and the year before, as Chairman Xi Jinping prioritizes development of the People's Liberation Army (PLA). According to figures released on the opening day of the Third Annual Session, a formal gathering of China's legislature, the 2025 defense budget will rise to CNY1.784665 trillion, which equates to USD249 billion. China firmly remains the world's second-largest spender on its military, trailing only the USA. John Culver, a former US national intelligence officer and retired CIA analyst, astutely noted: "Beijing sets the defense budget target increase over each five-year period. It adjusts for inflation or emergency contingencies if necessary. From 2001 until the global financial crisis, they programed a doubling of the budget every five years, and hit it almost to the decimal point. Since 2010, they've programmed a doubling every ten years. The announced annual budget figure is top down, not bottom up. Example: 2014 = RMB808 billion; 2024 = RMB1,670 billion." The 2,977 members of the National People's Congress automatically rubber-stamped this budget, and other national spending plans of the Chinese Communist Party (CCP). Held annually, the Two Sessions is the nearest thing to a carnival in China's serious and stultifying political calendar. It opened on 5 March and was due to close on the 11th. This year's budget was a reminder that the double-digit percentage increases of a decade ago are long gone. In fact, this is the tenth year in a row where defense expenditure growth has been in single digits. Simultaneously, China's economy is trying to keep its chin above water; gross domestic product (GDP) growth is predicted to be 5% in the year ahead, the same as what it expected over the past two years. The 7.2% rise means defense spending as a percentage of GDP remains below 1.5%. Lou Qinjian, spokesperson for the Third Session of the 14th National People's Congress, boasted that China has held the GDP percentage below 1.5% for many years, a rate lower than the world average. However, a pertinent question is to ask what China's real defense spending actually is? Chinese proclamations must be closely scrutinized, because figures from the CCP should always be taken with a grain of salt. China's defense budget misses out swathes of funding allocated for related things such as its military-run space program, defense mobilization funds, provincial military base operating costs, military pensions and benefits, and civilian/dual-use research and development. Nor does the defense budget include major paramilitary organizations like the People's Armed Police and China Coast Guard, which are enormous forces that supplement the PLA. The Stockholm International Peace Research Institute estimated that China's real 2023 defense budget was 37% higher than announced, while the UK-based International Institute of Strategic Studies calculated it to be 42% higher than what Beijing claimed. However, it is unclear just how large the discrepancy is between China's reported and actual defense spending. In 2023, the Pentagon estimated that Beijing's real spending may be 30-40% higher than officially stated. Deflecting any culpability for contributing to growing global defense spending, Senior Colonel Wu Qian, spokesperson for China's Ministry of National Defense (MND), pointed the finger at US defense spending as being "concerning" to the international community. Wu declared, "I believe the United States should be the first to cut its nuclear arsenal and military expenditure, and put into practice 'America First' in this regard." A Xinhua news report added, repeating old canards trotted out at this time every year, "China upholds a national defense policy that's defensive in nature, with its military spending mainly focusing on protecting its sovereignty, security and development interests. China's development strengthens the world's forces for peace, and the country will never seek hegemony or engage in expansionism, no matter what stage of development it reaches." The CCP mouthpiece added, "As China continues to play an increasingly important role on the global stage, its military has taken on greater responsibility in providing the international community with more public security goods. Over the years, Chinese military personnel have frequently joined in international humanitarian aid and disaster relief efforts, contributing significantly to global stability." Xinhua quoted a figure of 50,000+ peacekeepers being dispatched to more than 20 countries over the past 30 years. As such, it is the largest contributor among the five UN Security Council permanent members. However, putting the sum of USD249 billion in perspective, it is greater than the defense budgets of the next 22 Indo-Pacific countries combined, and that includes the likes of serious spenders such as India, Japan, South Korea, Australia and Taiwan. What is China spending the money on? The budget is very opaque, with no breakdowns provided. However, Wu of the MND said "increased expenditure will be mainly used to develop new-domain forces with new combat capabilities, and to enhance systems and capacity for reconnaissance and early warning, joint strikes, battlefield support and integrated logistics support". Additionally, funds would be invested to improve military training under realistic conditions and to deepen national defense and military reform. Wu added, "The Chinese military faces tough challenges in safeguarding national sovereignty and territorial integrity." He alleged that China faces one of the most complex peripheral security environments in the world, and that the PLA "will spare no effort to reach the goals set" for the force's centenary in 2027. He said it was a strategic imperative that the PLA speed up building a world-class armed force. "We must dedicate our efforts to ensuring that we achieve our goals with strong performance on schedule." Nuclear weapons make up a considerable chunk of spending, plus satellite images have emerged of what is likely to be the PLA Navy's fourth aircraft carrier under construction in Dalian. There are some indications that this will be China's first nuclear-powered carrier. Delivering his government work report, Premier Li Qiang promised the party faithful that the PLA would "step up military training and combat readiness so as to firmly safeguard China's sovereignty, security and development interests". In his address to the congress, Xi as well stressed the need to intensify joint civil-military endeavors, and implement an effective oversight system to investigate corruption. State media also noted, "Calling for the accelerated development of new-quality combat capabilities, Xi urged efforts to improve a swift response and rapid transformation mechanism for advanced technologies." This year marks the end of China's 14th Five-Year Plan (2021-25), which includes military development. According to state media, Xi "called for efforts to strengthen confidence, face challenges head-on, and implement the requirements for high-quality development to achieve the established goals and tasks on schedule". He urged the pursuit of "a high-quality, highly efficient, cost-effective and sustainable path of military development to ensure that its outcomes withstand the test of time and real combat". Earlier, Premier Li said the CCP preferred a peaceful solution to the Taiwan "issue", but Beijing "resolutely opposes" Taiwan pushing for any formal independence and the backing of any foreign supporters. This is rather a moot point because nobody is really calling for such a thing, but it fits the CCP's narrative to up the ante. Li added, "We will firmly advance the cause of China's reunification and work with our fellow Chinese in Taiwan to realize the glorious cause of the rejuvenation of the Chinese nation." Taiwan President Lai Ching-te insists that only Taiwanese people can decide their future; Beijing cannot impose its own agenda. Lai has offered to hold talks with China, but Beijing rebuffs him as a "separatist". Overall, however, China's tone on Taiwan did not alter much in this year's government work report. Taiwan, rightfully alarmed at the USA's abandonment of Ukraine so that it now swings in the wind before Russia's onslaught, can no longer be assured of American assistance. Taipei is therefore planning to boost defense spending in the face of the "rapidly changing international situation and the escalating threats from adversaries," said Taiwanese Defense Minister Wellington Li-Hsiung Koo. Somewhat ironically, Li and President Donald Trump each delivered their State of the Union or work reports on the same day. In his speech, Trump invoked China six times in connection to perceived unfairness or tariffs, but he never mentioned it as a strategic threat. On the other hand, Ryan Hass, Director of the John L. Thornton China Center at the Brookings Institute, assessed China's work report thus: "Premier Li Qiang's main message was to implore China to have confidence in its course. He described steady progress in China's economic growth and improvements to wellbeing. The bumper sticker of his speech was that the CCP would pursue progress while ensuring stability. Premier Li vowed measures to support PRC economic growth in the coming year, such as more proactive fiscal policy, more accommodative monetary policy, greater support for consumption, boosting innovation through investment in education and science research, etc." Significantly, Li made no direct references to the USA, although he did obliquely refer to "hegemonism and power politics". Nor did American tariffs garner a headline in the premier's speech. There seems to be calm acceptance in Beijing that a trade war is coming. Hass said, "Beijing appears focused on preparing itself for the bumpy period ahead. Both sides appear to be practicing patience and working to strengthen their own hands as they lay the groundwork for Trump and Xi to meet in the coming months, where the two leaders will set the direction, priorities and scale of ambition for the relationship going forward." Elsewhere, though, there was fighting talk. China's Foreign Ministry and its Embassy in the USA warned, "If war is what the US wants, be it a tariff war, a trade war or any other type of war, we're ready to fight until the end." This combative talk came after the USA smacked 20% tariffs on Chinese imports. Beijing also announced tit-for-tat tariffs of 10-15% on certain American imports beginning 10 March. China's Foreign Ministry tweeted, "Intimidation does not scare us. Bullying does not work on us. Pressuring, coercion or threats are not the right way of dealing with China." Indeed, Grant Newsham, Senior Research Fellow at the Japan Forum for Strategic Studies, said of Beijing's goals: "[China] sees this very much as a 'zero-sum game', as a word some might use. And whatever China can get, it will take. And it will not make concessions because it does very much view this as a fight to the finish. And Xi has said this. If you actually read the translations of his speeches, both spoken and written, he's clearly saying that the Chinese system cannot survive if the American system survives. One of them has got to go. And he has referred to the United States, the US system, particularly these ideas of freedom and human rights, and the things we hold dear - he refers to these as 'the enemy', as something that must be destroyed." Alarm is growing about the growing heft of the PLA. China recently conducted live-fire gunnery drills in the Tasman Sea between Australia and New Zealand. Three Chinese warships then almost completed a circumnavigation of Australia before heading into the Indian Ocean. China throws its weight around the South China Sea, bullying or angering the Philippines and Vietnam. The PLA's coercion of Taiwan continues unabated too. China's actions contradict its words at the Third Annual Session, where it claimed its "development strengthens the world's forces for peace, and the country will never seek hegemony or engage in expansionism".
Associated Press
11-03-2025
- Politics
- Associated Press
Orchestra melodies of Chinese diplomacy are growing resonant and influential
03/10/2025, Beijing, China // KISS PR Brand Story PressWire // The 'two sessions' are not only a major political event in China but also a key window for the world to observe the country's democratic politics and development trajectory. This year, as in years past, the event has captured considerable global attention, highlighting China's ongoing development and its implications for the world stage. In the 'Unraveling the allure of China' series, the Global Times (GT) invites experts and scholars from around the world to delve into the multifaceted allure of China and explore how the lessons drawn from its unique experiences can provide valuable insights for other nations. On Friday, Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, attended a press conference on China's foreign policy and external relations on the sidelines of the third session of the 14th National People's Congress. In the fifth piece of the series, Global Times reporter Wang Wenwen talked to Yury Tavrovsky (Tavrovsky), head of 'Russian Dream-Chinese Dream' analytic center of the Izborsk Club, to discuss China's diplomatic confidence, as well as its approaches and commitment to supporting the development of other countries. GT: In Foreign Minister Wang Yi's press conference, there were some frequently mentioned terms such as cooperation, stability, opening-up and equality. Summarizing China's diplomatic practices, what do you think are the features of China's diplomacy, and how do they reflect China's diplomatic confidence? Tavrovsky: The success of Chinese diplomacy in the new era can be described as the 'Chinese foreign policy miracle.' Just four months after the 18th National Congress of the CPC, President Xi Jinping introduced the vision of a global community of shared future when addressing the Moscow State Institute of International Relations. This signals China's commitment to contributing to global order. A few months later, another original concept of Xi appeared. During a meeting with then US president Barack Obama, he outlined the vision of a new model of great power relations. In subsequent years, major concepts were put forward, producing a coherent theoretical basis for the new Chinese foreign policy. On this basis, China was able to establish effective mechanisms of practical diplomacy. China has been consistent in how it implements global and regional policies and confident in its strength. These are the defining features of China's diplomacy. I believe that this is the strongest side of China's foreign policy and the key to advancing the great rejuvenation of the Chinese nation. GT: How does China's diplomatic confidence contribute to its active participation in global governance? Tavrovsky: China plays the role of a stabilizer of international relations not only due to its economic and military power. Some great powers use their potential precisely to create global chaos. It is very important that the creators of foreign policy in different capitals of the world always know where China stands and what actions it will take, which are evident in the stability and consistency of its global and regional course. Beijing's word is always followed by action. Beijing speaks of its commitment to a world order with the UN at its center and is actively involved in the funding and operations of this key organization, including the UN Security Council and the UN General Assembly. Reputable Chinese diplomats have rightfully held leadership positions in important global structures. Concerned about the stability of the existing world order, China is taking an active role in the formation of new regional and global organizations. The creation of the Shanghai Cooperation Organization and BRICS demonstrates China's confidence in its current capabilities as well as its future prospects. The phenomenal success of these innovative structures can be largely attributed to Chinese contributions - financial, economic, and conceptual. Having created a highly effective model of economic and social development called 'socialism with Chinese characteristics of a new era,' China showcases to the world the possibility of a fundamentally new socio-economic structure. By transmitting 'Chinese wisdom' to all corners of the planet, Chinese diplomacy delivers a tangible contribution to world governance. The attractiveness of the Chinese model is growing with the increasing success of China. GT: What do you think of the balance China strikes in pursuing its own development while shouldering global responsibilities? Tavrovsky: China cannot take its rightful place in the world without strengthening its domestic capabilities. Meanwhile, the achievements of 1.4 billion Chinese in their cities and villages cannot be properly explained to and fully appreciated by the international community without an active foreign policy. The Chinese leadership's systemic management and preparation of long-term development projects over the years has ensured the synergy of foreign policy and domestic Chinese political, economic and defense strategies. To enter a 'new orbit' in world politics, the basic concept of a global community of shared future is being advanced, as well as the Belt and Road Initiative, and the global development, global security and global civilization initiatives. At the same time, a holistic set of basic strategies for internal development was formulated and is being consistently implemented. In specific conditions, these concepts were either adjusted or gave rise to new strategies. For instance, the BRI has given credibility to the concept of a global community of shared future. By advocating a win-win philosophy, through vehicles like its various initiatives and concepts, China is not only serious about its own development, but also committed to supporting the economic development of other countries. It also actively participates in global governance, achieving both national interests and shouldering global responsibilities as a major power. GT: How does China's diplomacy reflect its support for developing countries? At Foreign Minister Wang's press conference, the term 'Global South' was a key highlight. What does China's support mean to the Global South? Tavrovsky: Beijing is taking on an important role as an organizer of regional and global structures in the Global South. This role is not limited to the SCO and BRICS, as large-scale summits of African, Central Asian and Latin American countries are being organized and financed. Despite its relatively short presence in these regions, China's diplomacy is able to play a peacekeeping role in overcoming problems between different states. A noteworthy example is its success in reconciling Iran and Saudi Arabia. Additionally, Beijing is making efforts to apply its accumulated experience of mediation in resolving the Ukraine crisis. It is also asserting its authority as an honest broker in complex relations between many countries of the Global South and in solving global problems. Chinese diplomacy, with various departments involved, is like an orchestra, and the orchestra's melodies are growing increasingly resonant and influential. This article first appeared in the Global Times: City: Beijing Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
