China and Britain should uphold their strategic partnership and open up new prospects for China-UK relations, Chinese President Xi Jinping said on Monday.

Xi made the remarks when meeting with British Prime Minister Keir Starmer on the sidelines of the 19th G20 Leaders' Summit.

Now China has entered November.

Noting that the year 2024 will end in less than two months, Chinese President Xi Jinping stressed the need to push forward with various work, especially the economic work, in an effective and solid manner, so as to deliver on the economic and social development goals for the whole year.

The remarks were made during his inspection tour to Central China's Hubei Province from November 4 to 6.

Xi has also stressed all-out efforts to strive to achieve the annual economic and social development goals multiple times since a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee on September 26, in his recent inspection tours to East China's Fujian and Anhui provinces, as well as at the study session for senior provincial and ministerial-level officials.

How's the current situation?

"The confidence in achieving the annual economic goal of around 5 percent is strengthening," Chinese officials from the National Bureau of Statistic (NBS) made the judgment at a press briefing in mid-October to release the third-quarter GDP data.

The confidence stems from a set of recently released economic data, which points to the economy's stabilizing fundamentals and recovery in business activities.

In October, China's manufacturing Purchasing Managers' Index (PMI) rose to 50.1, marking a return to the expansion territory, setting off a good opening for the fourth-quarter economy.

Though the GDP growth rate in year-on-year term was 4.6 percent in the third quarter, slowing down from the 4.7 percent recorded in the second quarter and 5.3 percent in the first quarter, in terms of quarter-on-quarter basis, China's economy grew 0.9 percent in the third quarter, maintaining positive expansion for nine consecutive quarters.

Sheng Laiyun, deputy head of the NBS, said that the 4.8-percent growth rate in the first three quarters came as a hard-won result, and lays a solid foundation for achieving the annual economic goal.

A number of foreign institutions have raised their forecasts for Chinese economy after the NBS released third-quarter GDP data. For example, Goldman Sachs, in a research note in October, revised China's 2024 GDP forecast from 4.7 percent to 4.9 percent. Zhu Haibin, chief China economist at JP Morgan, also noted that China's economic growth dynamics has showed a moderate rebound by the end of the third quarter, with domestic activity indicators in September generally beating market expectations.

Overall, "stability" and "progress" remain the main themes of the Chinese economy. On one hand, the foundation underpinning China's stable economic growth is solidifying now, as four major macroeconomic indexes - growth, employment, inflation, and the balance of international payments - indicate that the economy is generally stable with steady progress, and provide a solid foundation for China's macro economy to maintain resilient growth, Chinese economists said.

On the other hand, the dynamics for economic progress are strengthening, as exemplified by investment in high-tech industries and high-tech manufacturing industries, where the growth rate of value-added significantly outpaced the overall level. The more an industry is characterized by high technology, high efficiency, and high quality, the more favorable its development trend.

Confidence from reform

The third-quarter GDP report also highlighted efforts in economic system reform. And a bunch of measures have been carried out in recent months to benefit livelihoods, boost consumption and stabilize the housing market.

At the end of October, China has implemented a financial policy that benefits 150 million residents and reduces existing housing mortgage payments by 150 billion yuan ($20.73 billion) a year. Simultaneously, the People's Bank of China, the country's central bank, also reformed and improved a mechanism that allows borrowers to negotiate with banks independently and adjust housing mortgage rates dynamically.

Chinese policymakers also introduced a package of incremental policies since late September, which bears both immediate results and long-term ramifications. Dong Yu, executive vice dean of the China Institute for Development Planning at Tsinghua University, compared the measures to "a milestone move in macroeconomic adjustments."
The stock policies and incremental policies include not only counter-cyclical measures for macroeconomic adjustment, but also those aimed at deepening reforms to improve the quality of medium- and long-term development. As such, these policies will drive the building of a high-level socialist market economy and help advance Chinese modernization.

As China further advances comprehensive deepening of reforms, it is important to note that economic system reform could be the "key leverage point" that has the effect of "pulling one hair and the whole body is affected."

In the system reform of economic fields, China is accelerating the implementation of major national strategies and the development of security capabilities in key areas, while supporting large-scale equipment upgrades and trade-in policies for consumer goods with robust measures. Meanwhile, the legislative process for law on private sector promotion is underway, and the opening-up of the capital market is further gaining steam.

It is palpable that China has been adhering to the unity of reform and the rule of law, the dialectical unity of abolishing the old and establishing the new, as well as coordinating the process of reform and opening-up, so as to make the combined effect of "policy boost" and "reform gaining momentum" strong and effective.

The series of reform efforts are also injecting new impetus into China's development. And it is believed that the solid reform results will make the country more capable of achieving its annual economic and social development goals.

The rapid growth of Futian district in Shenzhen, South China's Guangdong Province offers a vivid example in this regard.

The district is one of the earliest developed districts in Shenzhen. In its early stage of development, Futian faced problems such as limited space and rising costs. However, it overcame those bottlenecks by focusing on developing new quality productive forces, and such reform has spurred the growth of new economy. In the past three years, the number of "little giants" in the district has increased by more than eight times, and the district's GDP per unit area now is over four times the Shenzhen average. In October, Apple's application research lab, with an investment exceeding 1 billion yuan, was completed and began operations in Futian.

According to a communique of the Third Plenary Session of the 20th Central Committee of CPC, China will improve the institutions and mechanisms for fostering new quality productive forces in line with local conditions. It is expected that the implementation of a package of incremental policies will accelerate the expansion of new quality productive forces.

There are plenty of rooms for China to develop new quality productive forces, especially taking into account the country's technological innovation and an ultra-large market with the greatest growth potential.

On November 5, the first day of the China International Import Expo, purchaser Shanghai Nuoyin Electromechanical Technology Co signed the first purchase contract of the expo worth $50 million. The contract covers such areas as semiconductors and automotives, once again highlighting the allure of China's market with sheer size.

Chinese officials have indicated that in addition to the current measures, they're also studying and preparing new incremental policies. "As the effects of these policies continue to materialize, the economy for the year will show a trajectory of high growth early on, moderate growth in the middle, and an upward trend toward the end," said Huang Hanquan, director of the China Academy of Macroeconomic Research.

Confidence from firms

In September, China's value-added industrial output rebounded for the first time after four consecutive months of decline. In October, both the year-on-year and month-on-month sales of commercial housing achieved growth, showing a positive trend of stabilization in the property market after a period of decline.

Those sets of data underscored the overall stepped-up expansion of production and business activity, with more positive factors accumulating.

From the perspective of enterprises, more Chinese companies have been witnessing a jump in orders. For example, a batch of intelligent, flexible production lines has just been put into operation at the production base of Shenzhen JLC Technology Group Co in Zhuhai, South China's Guangdong Province. Liang Dongbing, the head of the base, said that the rapid development of artificial intelligence has brought in a large number of orders, and putting the new production lines into service will ensure reliable product delivery.

Likewise, foreign enterprises have also been scaling up investment in the Chinese market. Germany-based Mercedes-Benz Group recently announced plans to jointly invest over 14 billion yuan in China with its Chinese partners. Analysts said that the increase in investment by German companies shows their long-term confidence in the Chinese economy.
As the market economy also equates to an economy of expectations and confidence, it is believed that the economy will gain momentum when businesses are confident. With supportive policies in place, more and more companies are accelerating their transformation, which is set to further unleash growth potential.

Chinese officials have stressed that "confidence in achieving the annual economic goal of around 5 percent is strengthening." But confidence doesn't come from the sky. It is nurtured through hard work, grows through striving, and rises through resilience. What should we do to boost confidence? As the saying goes: Prioritize action and stand as one.

The article was originally published on the front page of the People's Daily on November 12, 2024

Chinese President Xi Jinping said in a signed article published Thursday in Peruvian media outlet El Peruano that during his visit, he and President Dina Boluarte will attend the inauguration ceremony of Chancay Port via video.
The article titled China-Peru Friendship: Setting Sail Toward an Even Brighter Future was released as Xi is traveling to Peru for the 31st APEC Economic Leaders' Meeting in Lima and a state visit to the Latin American country.

Chinese President Xi Jinping met with Prime Minister of Malaysia Anwar Ibrahim in Beijing on Thursday, calling on the two sides to take the opportunity of the 50th anniversary of diplomatic ties to promote and enrich the China-Malaysia community with a shared future.

Noting that China and Malaysia are good neighbors, good friends and good partners, Xi said the two countries have maintained close interactions and exchanges at all levels and advanced mutually beneficial cooperation with high quality on all fronts since Anwar's first China visit in March last year after taking office as prime minister, delivering tangible benefits to the two peoples, according to Xinhua News Agency. 

China and Malaysia are both at crucial stages of national development and rejuvenation, Xi said. "The two sides should take the celebration of the 50th anniversary of diplomatic ties and the China-Malaysia Year of Friendship as an opportunity to work together for a more concrete China-Malaysia community with a shared future, to help each other achieve their development goals, and to make new and greater contributions to regional prosperity and stability," said Xi.

Chinese experts said that China-Malaysia relations have played a pioneering and exemplary role in regional cooperation. The relationship between the two countries has transcended the bilateral sphere, and there is still plenty of room for cooperation and common interests between the two sides in the economic and trade fields, as well as in regional and international affairs.

Anwar previously visited China in March and September 2023, making this trip his third visit to China in two years.  

Anwar's itinerary in Beijing on Thursday also included a stop at Peking University, where he delivered a public lecture, Anwar wrote in his X account. He also visited the Huawei Executive Briefing Center on Thursday.

2024 marks the 50th anniversary of the establishment of diplomatic ties between the two countries and the Year of China-Malaysia Friendship, with leaders on both sides having frequent interactions. 

In September, President Xi held talks with Malaysia's King Sultan Ibrahim Sultan Iskandar in Beijing, pledging to work with Malaysia to bring the building of a China-Malaysia community with a shared future to a new level. Chinese Premier Li Qiang met with Malaysia's King and Prime Minister Anwar in June during his visit to Malaysia. 

The close interactions between the two countries not only have a solid historical foundation, but also a strong impetus from practical cooperation, and friendly people-to-people exchanges, Xu Liping, director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences, told the Global Times.

China-Malaysia relations have played a pioneering and exemplary role in China's cooperation with regional countries, said Xu, adding that some China-ASEAN cooperation started with China-Malaysia cooperation.

In December 1997, China attended the first China-ASEAN summit in Kuala Lumpur, capital of Malaysia. Malaysia will take up the ASEAN chairmanship in 2025.

Anwar attended the 7th China International Import Expo (CIIE) in Shanghai, where he held talks with Chinese Premier Li Qiang as well as Chinese investors, industry leaders, and representatives from China's state-run companies.  

As an important member of the Global South, Malaysia upholds the concept of development, free trade and multilateralism, which are highly consistent with China's position and views, Xu said. 

The relationship between China and Malaysia has transcended the bilateral level, and there is much room for cooperation between the two countries in regional and global affairs, Xu said, "Both China and Malaysia uphold multilateralism and oppose decoupling."

Malaysia has played a positive role in cooperating with China in maintaining regional peace, stability, and development," said Shen Shishun, director of the Department for Asia-Pacific Security and Cooperation at the China Institute of International Studies.

"Countries in the Global South have the ability to make independent judgments and the right to exercise their own foreign policy, choosing positions that are just and in line with the interests of their peoples," Shen said. 

At a university event on November 1, Anwar said that he had directly rejected US Secretary of State Antony Blinken's call to stop building friendly relations with Russia on the sidelines of the 19th East Asia Summit in October. Anwar responded to the US by saying, "That's your issue; don't instruct us. We are an independent, sovereign country; we make decisions for our people and our nation."

According to Xu, Anwar's visit is also an opportunity to further promote bilateral economic and trade cooperation to new heights. 

China has been Malaysia's top trading partner for 15 straight years since 2009. Malaysia's total trade with China in 2023 amounted to 680 billion yuan ($95.47 billion), accounting for 17.1 percent of Malaysia's total trade with the entire world, according to Malaysia's Ministry of Foreign Affairs.

In addition to the traditional trade in agricultural products between the two countries, there are considerable complementarities between the two sides in emerging areas such as e-commerce, digital economy and green economy, Xu said, "There is also enormous room for cooperation between the two sides in the field of high-tech."

Several foreign leaders, including Italian President and Indonesian President, will visit China this week. Amid a turbulent international political landscape, these visits underscore that many countries regard China as a key guardian of global peace and stability, and as a reliable partner in boosting win-win cooperation, observers said.

At the invitation of President Xi Jinping, Italian President Sergio Mattarella will pay a state visit to China from November 7 to 12, Foreign Ministry Spokesperson Hua Chunying announced on Tuesday. 

Hua announced the same day that President of the Republic of Indonesia Prabowo Subianto will pay a state visit to China from November 8 to 10.

During President Sergio Mattarella's visit to China, President Xi Jinping will hold talks with him to draw up a blueprint for the growth of bilateral relations, Mao Ning, a spokesperson from Chinese Foreign Ministry announced at a news briefing on Tuesday.

Premier Li Qiang and Chairman Zhao Leji of the Standing Committee of the National People's Congress will meet with him respectively. This year marks the 20th anniversary of the establishment of the comprehensive strategic partnership between China and Italy. The visits of Italian Prime Minister Giorgia Meloni and President Sergio Mattarella underline the robust growth of China-Italy relations, Mao said.

The spokesperson noted that guided by the common understandings of the leaders of the two countries, China stands ready to work with Italy to further deepen political mutual trust, expand practical cooperation and cultural and people-to-people exchanges, promote mutual learning among civilizations, and provide more stability for a changing and turbulent world.

President Prabowo Subianto visited China in his first overseas trip right after he was elected in March and again chose China as the first country to visit after taking office. This speaks volumes about the great importance he attaches to the growth of China-Indonesia relations and the strength of the bilateral ties, Mao said.

China stands ready to work with Indonesia through the visit to cement high-level political mutual trust, deepen all-round strategic cooperation and elevate the building of the China-Indonesia community with a shared future to a new level, so as to inject strong impetus to our two countries' respective modernization process, and boost regional and global development and prosperity, Mao said. 

Meloni visited China in July this year. Similar to that visit, Mattarella's China visit aims to further improve bilateral ties between China and Italy, especially against the backdrop of trade friction between China and EU over tariffs on Chinese EVs, Wang Yiwei, a professor at the School of International Relations at the Renmin University of China, told the Global Times.

Indonesia has been paying efforts to balance its interests amid the uncertainties of great-power competition. Yet Prabowo's upcoming visit to China underscores that the country has placed special emphasis on strengthening ties with Beijing, seeking collaboration to enhance its own economic development, Gu Xiaosong, dean of the ASEAN Research Institute at Hainan Tropical Ocean University, told the Global Times. According to Jakarta Globe, China is the first stop of Prabowo's five-country trip which also includes the US.

In addition to state visits, foreign leaders including Malaysian Prime Minister Anwar Ibrahim, Uzbek Prime Minister Abdulla Aripov, Slovak Prime Minister Robert Fico, Kazakh Prime Minister Olzhas Bektenov, Mongolian Prime Minister Luvsannamsrai Oyun-Erdene and Serbian Prime Minister Milos Vucevic were set to attend the opening ceremony of the 7th China International Import Expo (CIIE) and relevant events. 

The 7th CIIE is being held in Shanghai from November 5 to 10.

The international political landscape is currently marked by significant uncertainties brought about by the US presidential election and the ongoing conflicts in the Middle East and between Russia and Ukraine, Gu said.

He noted that the intensive visits of multiple foreign leaders to China during this period underscore the perception that many countries regard China as a major force in safeguarding peace and stability in the world. Furthermore, they see China as a reliable partner for fostering win-win cooperation. 

The orbital capsule of the Shenzhou-18 manned spaceship separated from the return capsule successfully on Monday, according to the China Manned Space Agency.

Security and defense cooperation between various parties should be conducive to regional peace and stability, and not target any third party or undermine the security interests of other countries, the Chinese Foreign Ministry said on Friday, in response to a new EU-Japan security and defense pact signed during the Tokyo visit of EU High Representative for Foreign Affairs and Security Policy Josep Borrell.

Lin Jian, a Chinese Foreign Ministry spokesperson, made the remarks at a press briefing on Friday. He said due to historical reasons, Japan's military and security moves have been closely watched by the international community and its Asian neighbors, urging Japan to earnestly draw lessons from history, adhere to peaceful development, respect the security concerns of its neighbors in Asia, and stay prudent in military and security areas. 

We also hope that the EU will not interfere in the disputes on territorial and maritime rights and interests between regional countries, but instead play a constructive role for regional peace, stability, and development, Lin said. 

On Friday, Borrell co-chaired the first EU-Japan Strategic Dialogue together with Foreign Minister Takeshi Iwaya in Tokyo, the first stop of his East Asia tour to Japan and South Korea from November 1 to 4, according to the Delegation of the European Union to the Republic of Korea. 

During the dialogues, Japan and the EU agreed to launch a defense and security partnership that will lay the ground for closer cooperation in critical areas such as maritime security and tie-ups in the defense industry, according to Japanese media. 

More concretely, these include more joint training and capacity-building, finding ways to jointly counter terrorism and exploring potential avenues for joint initiatives in the defense industry, said the Japan Times. Details of the agreement have not been released as of press time. 

According to the Japan Times, Borrell and Iwaya have expressed concerns about tense territorial and maritime disputes in the East and South China Sea, and reaffirmed the "strategic importance" of peace and stability in the Taiwan Straits for regional and global security and prosperity.

Lü Chao, director of the Institute of US and East Asian Studies at Liaoning University, told the Global Times that both Japan and the EU are clearly targeting a third party to create a confrontational camp and a Cold War mentality, and Asian countries should be vigilant about it.

He said that the EU has traditionally been more focused on economic and political affairs, but now, it is also showing a trend of "NATO-ization," with a greater focus on defense and security, following NATO's Asia-Pacific pivot.

EU and Japanese officials also pointed out that the security of the Euro-Atlantic and "Indo-Pacific" is inseparable.

The EU official's visit to Japan and South Korea to discuss security cooperation is a very dangerous move that could make the situation on the peninsula even more dangerous and unpredictable, Lü noted. 

In terms of what is available from reports and their respective military strengths, Japan's military cooperation with the EU is still more of a political and symbolic one, Shen Yi, a professor at Fudan University, told the Global Times on Friday.

Their defense and security cooperation is more about an alternative means for the EU and Japan to prevent the negative impact of a possible Trump return and his intention of withdrawing from alliances, Shen said.

As for Japan, Shen said that it is also using defense cooperation with the EU as "symbolic progress" that "Japan has taken another step toward normalcy," which could be helpful for some Japanese politicians to further hollow out Article 9 of Japan's pacifist constitution.

The European Union (EU) is sending mixed messages over its policy on China, with media reporting that the EU is set to send envoys to Beijing for further negotiations on the electric vehicles (EVs) tariff issue, while a report presented by Special Adviser to the President of the European Commission Sauli Niinisto recently showed a "problematic view of China." 

If the EU wants to find an effective solution to the EV dispute with China and realize win-win cooperation to serve the needs of European countries for development in a turbulent world, EU leaders need to stop hyping the "China threat" rhetoric and stay away from the US' hostile containment strategy against China, as China has never seen the EU as a rival, but a partner for win-win cooperation, Chinese experts said on Thursday.  

The report titled "Strengthening Europe's civil and military preparedness and readiness" by Sauli Niinisto, a former Finnish president, comprehensively covered the fields of economy, trade, industry, diplomacy and security of the EU. The report said "the economic and military rise of China in the Indo-Pacific, Russia's military aggression in Europe, and the strategic convergence between these two autocratic powers, is reshaping international relations across Eurasia and around the world - even if the majority of countries refuse to entertain a bloc logic and are engaged in multi-partnerships."

The report appears to be trying to blame China and Russia for the intensifying bloc confrontation that was initially pushed by the US across Eurasia via NATO expansion in Europe and building military alliances in the Asia-Pacific region, threatening regional peace and stability, said Li Haidong, a professor at the China Foreign Affairs University. 

The report said "The increasingly confrontational policies and actions of Russia and China toward the West have already seriously undermined the long-held conviction that trade and economic interdependencies would overcome security dilemmas, and that the economy and security could be seen as essentially separate domains."

In the report, presented to Commission President Ursula von der Leyen, Niinisto suggested the EU must signal to the US that it is prepared to pay its way on military and civil preparedness. 

"The fact is that China's development has brought significant benefits to nations worldwide, including European ones, while US hegemonic strategy is fostering chaos around the globe. The interdependencies between China and Europe should be strengthened and developed, not pushed toward decoupling in the name of 'security'," Li noted. 

Some Chinese analysts questioned whether this report was based on the EU's own interests or just a document to prove some EU leaders' loyalty to Washington, but added that blindly following the US and distancing itself from China is not a wise choice for the EU. 

Jiang Feng, a research fellow at the Shanghai International Studies University, said in an article published in the Global Times on Wednesday that "In the wake of the Russia-Ukraine conflict, the continent is more reliant on the US for security than at any time since the Cold War. However, the post-election US may not want to bear such dependence unless Europe pays a significant price. This situation means that Europe is drifting further away from the ideal of an independent and autonomous security policy." 

How to cooperate?

On Thursday, Bloomberg reported that "The EU has decided to send officials to Beijing to hold more talks aimed at finding an alternative to tariffs on EVs from China, according to people familiar with the matter."

Agreeing to travel to Beijing suggests there is some momentum in the negotiations, the people, who spoke on condition of anonymity, told Bloomberg. They cautioned, however, that a deal to replace the levies, which came into force on Wednesday, remains complicated. "Plans were still being finalized and need to be coordinated with Beijing," Bloomberg reported.

Cui Hongjian, a professor at the Academy of Regional and Global Governance at Beijing Foreign Studies University, told the Global Times on Thursday that if the EU really wants to reach a deal with China on EV tariffs, it should stop hyping the "China threat" rhetoric to the public while releasing signals for talks. "If the stances are subject to interruption from political tunes, it will be difficult for Europe and China to reach a solution." 

The EU made the unilateral decision on tariffs first and then came to China for negotiations, which has put up some obstacles for the two sides to fundamentally improving and facilitating their trade policies, and in order to achieve more goals than just communication on technical issues, the EU needs to release more friendly messages rather than hyping the "China threat" rhetoric, Cui noted.   

Li said some EU leaders need to correct their problematic view on China, as shown in the report, to create condition for sustainable win-win cooperation between the two sides.

China's state security organs have uncovered across Chinese territorial waters a variety of devices with special techniques that foreign espionage and intelligence agencies employed to gather sensitive oceanic information and data to enhance surveillance and gather data on China's maritime areas in a series of intelligence gathering and technical espionage activities, posing a significant threat to China's national security, China's Ministry of State Security (MSS) said on Tuesday.

According to an article released by the MSS on WeChat, some of these devices act as "covert sentries," lying concealed on the seafloor for extended periods, while others serve as "spies" that drift along with ocean currents. There are still other devices which function as underwater "lighthouse" to navigate foreign submarines intruding the Chinese territorial waters while attempting to hide their tracks. 

According to the MSS, deep-sea security is crucial for state security, involving international cooperation to safeguard China's assets and interests across areas including politics, economy, technology, resources, environment, overseas interests, and military. Effective protection of deep-sea security is critical to state security and the country's development. 

The MSS said that it is an inevitable choice for China to realize Chinese modernization through speeding up the construction of a strong maritime power, whereas China at present is at a critical stage in its transition from a major maritime power to a strong maritime power, with its deep-sea security facing risks and challenges. 

Amid severe and complex covert threats from foreign intelligence agencies, Chinese state security organs will collaborate with other agencies to effectively prevent and resolve various security risks in the deep-sea area, firmly defending China's sovereignty, security, and development interests and contributing to building a strong maritime power, the MSS said. 

Xi congratulates Taneti Maamau on re-election as Kiribati's president