Editor's Note:

The second session of the 14th National People's Congress (NPC) and the second session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) will open on March 5 and 4, respectively. The two sessions are a crucial window into China's whole-process people's democracy and will offer the world a window to observe the country's development and understand its policy direction for the following year.

Every year, China's top legislators and political advisors bring up the most concerning livelihood issues to the two sessions for discussion, so that the Chinese governments can have a deep understanding of the people's situation and demands and formulate corresponding policies that directly address the pain points.

In 2023, various departments of the Chinese State Council handled a total of 7,955 motions from NPC deputies and 4,525 proposals from members of the CPPCC National Committee, according to a press conference of the State Council Information Office on February 29.

In light of this, the Global Times has initiated a series of "understanding China through motions and proposals." This article, the first installment of the series, examines the significant livelihood issues that the two sessions have addressed in previous years. The second installment will compare the motions and proposals that have been adopted in a certain field with some new proposals this year, so that readers can gain insight into the new challenges in this field and have an overview of the society China will become in the future.
February 29 marks the 17th International Rare Disease Day.

The World Health Organization defines diseases with a prevalence of 0.065 percent to 0.1 percent of the total population as rare diseases.

As of the end of September 2023, around 780,000 cases of rare disease had been registered in China since the inception of a rare disease diagnosis and treatment service information system in 2019, according to the China Global Television Network.

To improve the diagnosis and treatment level of rare diseases and safeguard the health rights and interests of rare disease patients in the country, the Chinese National Health Commission, together with other four Chinese government departments, released the first catalog of rare diseases in 2018. Various localities in the country are implementing policies on medication, health insurance and research according to the catalog.

The catalog was revised in September 2023. It now contains 86 rare diseases of 17 medical specialties, including hematology, dermatology and pediatrics, according to the National Medical Products Administration.

In 2021, China also for the first time included a rare disease treatment in its National Reimbursement Drug List. These moves together benefited thousands of Chinese suffering from rare diseases, including spinal muscular atrophy (SMA) patient Zhang Jianuo and his parents.

SMA treatment Nusinersen was included in the NRDL in November 2021 for the first time, which cut the price of the treatment from 700,000 yuan ($97,266) per dose to 33,000 yuan per dose.

"Me and Jianuo's father cried when the news was announced. We are truly grateful to the country for showing us that our child has a chance to be saved and has hope," Zhang Jianuo's mother Li hui was quoted as saying by CCTV.

Chasing hope

When the first catalog of rare diseases was released in 2008, Ding Jie, who has served as a member of the CPPCC National Committee for 15 years since 2008 and participated in compiling the catalog, was one of the people most excited to hear the news.

Ding, former vice president of Peking University First Hospital, believed that this catalog was a milestone, and the joint release by five departments is a key demonstration that "the Chinese government is ready to face the rare disease problem," Ding said.

During the 15 years serving as a CPPCC member, Ding's focus has been almost entirely on rare diseases. She had reportedly offered proposals such as the establishment of a rare disease medical security system and regulations for the assistance of rare disease patients. In 2017, she once again suggested that rare diseases be included in the national medical insurance catalog, according to reports at the time by China National Radio.

When Ding first began her CPPCC journey, the public's attention to rare diseases was low. "At first, when I spoke at the conference, there were always people around me showing puzzled expressions. But in the past decade, the situation has changed. Whenever rare diseases are mentioned, the members are particularly concerned and want to contribute to solving the problem," she was quoted as saying in a report of the CPPCC Daily.

"In the past, it was 'I' suggesting, but in recent years it has become 'we,'" Ding was quoted as saying.

During the 2022 two sessions, the Chinese government included "strengthening research of rare diseases and better ensure the supply of medicines" in its yearly work report. This is an achievement thanks to previous efforts of NPC deputies and CPPCC National Committee members like Ding. It is also an encouragement to more political advisors to continue to fight for patients suffering from rare diseases in the future.

For example, this year, Sun Jie, a member of the National Committee of the CPPCC and deputy dean of the school of insurance at the University of International Business and Economics, will reportedly propose landmark legislation for rare disease drugs to ensure that patients have access to lifesaving medication.

With the increased awareness of rare disease, increased investment is being made available, and the medical needs of patients are becoming an increasing priority. It is imperative to clearly formulate or introduce a landmark law or special policy for rare disease drugs, and to systematically regulate research and development, Sun told chinatimes.net.

See the unseen

Similar to rare diseases, educational equality of children in remote and impoverished areas is also a focus of Chinese political advisors.

"It is such a good news for children in former underdeveloped revolutionary old areas, ethnic minority autonomous counties, and former key poverty-stricken counties in our province!" Li Xingling, a deputy to the 12nd and 13rd NPC, posted on her WeChat in April 2023, after South China's Guangdong Province released the special enrollment plan for key universities in 2023, relaxing admission requirements to cover more students in these areas, according to a report on the Guangdong provincial government's official website.

The special enrollment plan is one of the preferential policies in China to better promote educational equity and allow more rural students to enjoy high-quality higher education. Li was so happy as the move Guangdong made is an outcome after she submitted a motion during 2022 two sessions to call for adjustment to the plan in order to help more rural and impoverished students to be able to enroll in high ranking universities.

"Although I am no longer an NPC deputy [since 2023], I am still very happy to see my suggestions being adopted. I will continue to pay attention to this policy. In the future, I will continue to focus on my job, strengthen my responsibilities, and make efforts to promote the high-quality development of basic education in mountainous areas," Li was quoted as saying in the report.

Since being elected as an NPC deputy in 2013, Li has never stopped focusing on education. In 2013, she submitted a motion on providing subsidies to teachers in mountainous areas, and in 2015, she proposed increasing the per capita funding for high school students. From 2018 to 2021, she has put forward a total of 25 motions, with 13 of them related to education, according to a report of thepaper.cn in 2022.

Many rural teachers received subsidies after my motion was adopted, allowing them to teach in rural areas with more peace of mind and reducing talent drain, this is one of the happiest things that happened during my 10 years of service as an NPC deputy, Li told thepaper.cn.

Crucial pathways to problem solving

According to the press conference of the State Council Information Office on February 29, nearly 4,700 motions and proposals were adopted by a range of government departments, with over 2,000 related policies and measures being introduced, which greatly facilitated the resolution of a series of issues related to reform, development, and the urgent concerns of the people, leading to new achievements in promoting high-quality economic development and ensuring the well-being of the people, the office said.

"The two sessions play a powerful role in addressing people's most demanded livelihood issues," said Su Wei, a professor from the Party School of the CPC Chongqing Municipal Committee. Su has served as a CPPCC member in Chongqing for many years. "Besides my regular duties, I also participate in research and discussions organized by the NPC and CPPCC to investigate issues concerning people's livelihoods," he told the Global Times.

Su noted that because NPC deputies and CPPCC members usually come from different sectors such as healthcare and education, they can delve deeper into problems from their own professional experience, providing solutions to government departments. Therefore, the two sessions indeed play a unique and significant role in resolving medical and educational issues.

Motions and proposals during the two sessions are crucial pathways for addressing issues impacting people's livelihood, and they're becoming increasingly effective. First, it is because that governments are placing greater importance on proposals and motions put forward by CPPCC members and NPC deputies. Every year, during the two sessions, government departments are required to inform the NPC deputies, the CPPCC member as well as the public of the progress they've made in implementing motions and proposals of the previous year. Second, the quality of motions and proposals is improving, truly reflecting issues impacting everyday people. Furthermore, there are some reward mechanisms and regulations on NPC deputies and CPPCC members, which to some extent encourage them to brainstorm better ideas, according to Su.

Editor's Note:

The United Nations Human Rights Council's Universal Periodic Review (UPR) Working Group conducted a fourth review of China's human rights situation in Geneva on January 23. During the review, representatives from 161 countries requested to speak - the highest number in history. Among them, more than 120 countries positively evaluated the progress of China's human rights developments.

The China Society for Human Rights Studies, a non-governmental organization (NGO), and several other Chinese NGOs attended the review and held some side events. Global Times reporter Fan Lingzhi followed the review in Geneva and witnessed how Chinese NGOs carry out exchanges with international scholars and their counterparts.
It was still dark and rainy in Geneva around 7 am on the morning of January 23. Representatives from Chinese NGOs had already lined up at the entrance of the Palais des Nations to attend the Universal Periodic Review (UPR) of China as observers. They had not yet adjusted to the time difference, but they were eager to participate in the review.

Room XX of the Palais des Nations is also known as the "Human Rights and Alliance of Civilizations Room." It is used by the United Nations Human Rights Council on a regular basis and is easy to recognize.

The most distinctive feature of the room is the colorful giant dome created by contemporary artist Miquel Barceló. Some people interpret the dome as a reminder that the different shapes and colors of the protrusions represent different opinions and perspectives. Under the dome, representatives from different countries examine, discuss, and deal with human rights issues, which are closely related to all of humanity.

Since 2008, the UPR mechanism of the United Nations Human Rights Council has begun to conduct a rotating review of the human rights situation of all UN member states. China participated in the reviews in February 2009, October 2013, and November 2018.

On January 23, China participated in the fourth round of the UPR of the UN Human Rights Council. In the review that day, the progress of China's human rights cause was highly praised by more than 120 countries.

According to the procedures, China submitted a national human rights report before the review. During the review, the Chinese delegation first made a brief introduction, and then other countries were allowed to ask questions and make comments and suggestions in the interactive dialogue session. China responded to the questions raised during the interaction.

It was interesting to observe the speeches of the representatives of various countries on the spot as they reflected each country's understanding of the development of China's human rights and the connection between this development and their own countries.

For example, many developing countries mentioned that China has formulated and implemented the four-phase national human rights action plan, and the progress China has made in poverty alleviation, the social security system, and women's rights. The number of countries that can accurately articulate China's specific measures and legal provisions are many.

Although China's achievements in human rights development are quite impressive, there are always critics who ignore the facts. A few Western countries led by the US still try to put forward so-called "suggestions" based on false information about China's Xinjiang, Xizang, and Hong Kong regions.

According to the Global Times' observation, some countries only based their speeches on rumors hyped by some Western media outlets.

A small number of countries seemed afraid of missing any opportunity to "condemn" China, to the point of skipping over opening thanks and acknowledgements. Christoph Stückelberger, president of the Geneva Agape Foundation expressed his "shock" at this aggressive behavior when communicating with the China Society for Human Rights Studies and said: "This is unacceptable in diplomacy."

In his concluding remarks, Ambassador Chen Xu, head of the Chinese Mission to the United Nations in Geneva and head of the Chinese delegation for the review, strongly condemned the unfounded accusations and smears made by a few countries and said that utterances are not in line with the purpose and principles of the UPR.

A few countries, intent on using human rights to smear China, interfere in China's internal affairs, and suppress and contain China's development, which China firmly opposes.

"We hope that individual countries will stop politicizing human rights issues, and objectively and fairly evaluate the development of China's human rights developments, uphold the authority of the UPR and the atmosphere of dialogue and cooperation, and inject positive energy into the development of the international human rights cause," said Chen.

"This round of reviews once again proves China's global influence and where the attention and expectation of the international community toward China is," Dai Ruijun, a member of the China Society for Human Rights Studies and a researcher at the Institute of International Law at the Chinese Academy of Social Sciences, told the Global Times.

Compared with the review of other countries on the previous day, all seats in Room XX of government representatives, media outlets from various countries, and domestic and foreign NGOs were taken. Many people were unable to enter the venue due to the lack of seats.

During the review, most countries recognized the Chinese government's unremitting efforts to promote and protect human rights since the last review cycle, and put forward a large number of constructive suggestions for China to further improve the level of human rights protection.

Developing countries have recognized China's contributions to amplifying the voice and influence of developing countries in the UN human rights mechanism and promotion of the healthy development of the UN human rights mechanism.
Wider friend circle

The Global Times found that during the UPR, anti-China forces from the US and other Western countries had also stepped up efforts in causing trouble inside and outside the venue. Within such a contest, Chinese NGOs played a unique role in safeguarding national interests and their own legitimate rights and interests.

Strengthening exchanges with people from all walks of life in the international community was the most important work of Chinese NGOs while in Geneva. The UN Human Rights Council's Practical Guide for NGO Participants clearly stipulates that NGOs with consultative status with the UN Economic and Social Council (ECOSOC) can hold side events on issues related to the work of the Human Rights Council.

Before and after China participated in the fourth round of the UPR, many organizations and institutions, including the China Society for Human Rights Studies, held side events on various themes, including Human Rights and Chinese Modernization. They deeply discussed the development of human rights and global human rights governance, effectively overshadowing the harassment and noise from the anti-China forces.

More than 50 experts, scholars, representatives of social organizations, and media representatives from China and abroad attended the side event on Chinese modernization and human rights protection held by the China Society for Human Rights Studies.

Seven Chinese scholars from universities and research institutions such as Nankai University, Southwest University of Political Science and Law, Jinan University, Central South University, and Xinjiang University introduced the development of China's human rights development from different perspectives.

The Chinese people have every reason to be proud of their country. In the interactive session of the side event, Peter Hediger, a Swiss sinologist, historian, and international security policy expert, noted that he was deeply impressed by the achievements of China's human rights development.

The Swiss expert also mentioned the famous saying "When the Great Way is practiced, the world is for the public" from the "Liyun" chapter of the "Book of Rites," a Chinese classic, and said this reflects the sense of responsibility possessed by the ancients of China.

Hediger believes that the reason why the US is trying to contain China is influenced by the notion of the US being the only superpower while ignoring the realities of the new era, where multilateralism is the only way to solve global problems.

At the side event, some foreign guests also had in-depth discussions with Chinese scholars on specific academic issues.

For example, some scholars were interested in the changes in the English translation of Xizang. Xiao Wu, a member of the delegation of the China Society for Human Rights Studies and an associate professor of the Human Rights Research Institute of the Southwest University of Political Science and Law, answered from the perspectives of history and international naming norms.
"Academic exchanges can help dispel many misunderstandings, and professional discussions can help to free views of preconceived political prejudices," Zheng Ruohan, vice president of the Yige Social Development Promotion Center in Chongqing, who also participated in the side event, told the Global Times.

Zheng noted that China's international human rights exchanges are increasingly focused on dialogue and are not afraid of inquiry.

Outside the conference venues in the Palais des Nations, making more connections was also an important task for Chinese NGOs.

The Global Times learned that during China's participation in the fourth round of the UPR, the China Society for Human Rights Studies also paid visits to many social organizations and relevant universities and academic institutions. Communication, cooperation, and equal consultation have always been the move and expectation in the international human rights field.

Relentless efforts

In the Palais des Nations, some Western countries were quick to apportion blame, but on the street a few hundred meters away, the human rights problems in front of them did not seem to attract much attention. Beggers who asked for handouts outside the hallowed venue were promptly ignored.

"I didn't see so many beggars when I came to Switzerland a few years ago, but this time I can see them at the door of every shopping mall. I was surprised," Chang Jian, director of the Human Rights Research Center at Nankai University, told the Global Times.

Although some Western countries have different social perceptions of begging than China, it is, after all a matter of people's basic right to survival. Moreover, most of these beggars seem to be refugees from other countries who are fleeing war, said the expert.

"These wars are inextricably linked to the US and other Western countries. On the one hand, they make the people of these countries homeless and relentlessly trample on their human rights. On the other hand, they slander the stability and harmony of China's Xinjiang as 'genocide.' This highlights the politicization, weaponization, and double standards of the West on human rights issues, which causes great damage to the healthy development of the global human rights cause," said Chang.

In Zheng Ruohan's view, solving the problem of poverty first requires political determination and political consensus. In fact, in many Western countries, there are also many advocacy groups that try to attract attention to and solve the problem of poverty through advocacy means.

However, due to the high cost of lobbying, it is difficult for these economically disadvantaged groups to truly achieve their goals in the short term. In contrast, the Chinese government can integrate social interests and better represent and express the interests of the poor, said Zheng.

Carrying out international human rights exchanges and letting more countries understand and agree with China's view on human rights cannot be achieved overnight.

Language, culture, values, international rules… These are all issues that need to be addressed in international human rights exchanges. The more difficult the road of exploration, the more Chinese NGOs should go out with an open and confident attitude to participate in the UN multilateral mechanism. This has become the consensus of many scholars of the China Society for Human Rights Studies.

Positive changes can only be achieved by working hard for a long time. At a side event, Suolang Zhuoma, an assistant researcher from the China Tibetology Research Center, introduced the inheritance and protection of traditional culture to the guests in fluent English. Her speech impressed many guests.

"Coffee is my favorite thing in life. I like to try every new flavor myself, rather than following other people's suggestions, because different people have different tastes. Speaking of this, I want to say that Xizang is like a cup of coffee. You have to try it yourself and experience it yourself. This means that only by coming to Xizang and seeing it with your own eyes can you have an objective and correct understanding of Xizang and its culture," said the expert.

A short video of Suolang Zhuoma's speech also became a hot search topic on the Internet.

Chang Jian believes that as an NGO, when participating in international human rights exchanges, it is not only necessary to be familiar with the UN's human rights discourse, but also to be good at using more vivid language.

The expert noted that in recent years, Chinese NGOs have been increasingly active in participating in the UN Human Rights Council meetings. They not only actively strive to speak at the meetings, but also hold side events to discuss how to promote the development of human rights in China and the world. The topics and contents of their speeches are becoming more and more specific, and the forums are becoming more and more vivid.

In the face of the major opportunities and challenges brought about by a new wave of technological revolution and industrial transformation, innovation has become a topic of particular concern for all countries as it is a key factor in pushing forward a country's continued development.

In September 2023, the World Intellectual Property Organization (WIPO) released the "Global Innovation Index (GII) Report 2023." The report showed that China, Turkey, India, Vietnam, the Philippines, and Indonesia are the middle-income economies that have made the most headway in innovation over the last decade. Among them, China is the only one that ranked among the top 30.

"China is far ahead in global innovation performance; it is close to the top 10 of the GII ranking and still the sole middle-income economy within the GII top 30," Sacha Wunsch-Vincent, head of the section of Economics and Statistics Division, and co-editor of The GII at the WIPO, told the Global Times in an exclusive interview.

A close look at the GII reports revealed that since the first release of the GII report in 2007, China's overall ranking has shown a steady upward trend. In this year's ranking, China ranks 12th, having climbed 31 spots from its lowest ranking in previous years (43rd in 2010). The report also specially mentioned that China is the only middle-income economy among the top 30, followed by Japan in the 13th place.

Steady progress in innovation

Data in the GII report showed that in 2023, China ranked first globally in six specific indicators, including the proportion of creative goods export in total trade volume, domestic market scale, labor productivity growth rate, PISA scales in reading, math, and science, the ratio of trademarks by origin to GDP, and the ratio of utility models by origin applications to GDP.

"The GII rankings are compiled based on about 80 indicators which can be gleaned from the country profiles. The indicators are structured around innovation input and innovation output dimensions and cover fields such as human capital, research and development, venture capital, high-tech manufacturing, and patents, but also rank intangible assets and creative goods and services," Wunsch-Vincent explained.

A special excerpt from the GII also showed that the world's five biggest science and technology (S&T) clusters are now located in East Asia, with China emerging as the country with the greatest number of clusters as Tokyo-Yokohama leads as the biggest S&T cluster.

"The emergence of Chinese top science and technology clusters does not come as a surprise with all the science and innovation activity that has propelled China forward in the GII. It is impressive nonetheless - some of the top-ranked cities or regions are obvious leaders such as around Beijing or Shanghai," Wunsch-Vincent noted to the Global Times.

"In addition, there are many cities or clusters emerging, which are new and not that well-known yet as science and technology hubs around the world. In that sense, the ranking also allows the rest of the world to better understand the geography and potential of innovation in China," he said.

Feng Xingke, secretary general of the World Financial Forum and director of the Center for BRICS and Global Governance, told the Global Times that this reflects the shifting of the global center of technological activities to the East, with East Asia leading global technological innovation.

"The increase in the number of Chinese technology clusters is mainly due to China's continuous strengthening of regional technological innovation development strategies in recent years, forming an ecological system for technological innovation with central coordination, local healthy competition, and mutual development," Feng said.

Analysts generally believe that China has made remarkable achievements in the fields of new energy, high-speed rail, modern information, new materials, and artificial intelligence, and related new industries and products have shown strong growth momentum.

Feng pointed out that one important reason for China's innovation progress lies in the strong support from the government.

In recent years, the Chinese government has invested a large amount of funds in major scientific and technological innovation research and development, and has provided a favorable policy and business environment for scientific and technological innovation, strengthened the team of scientific and technological innovation talents, and laid a solid foundation for technological innovation progress, he said.

In a previous interview with the Global Times, Manuel C. Menendez, founder and CEO of MCM Group Holdings, hailed the great achievements that China has made over the last decade.

He noted that in addition to the country's policy, it is necessary to give credit to Chinese entrepreneurs and China's ability to take a policy and make it work step by step.

According to Wunsch-Vincent, an important reason for China to progress rapidly is that China has "prioritized innovation and science and technology policy as a means to achieve economic growth and development for many decades now. It has consistently increased its innovation expenditures and has built an impressive innovation ecosystem."

"I also believe that China has a dynamic start-up scene with abundant young and highly skilled human capital. These factors have helped China achieve the rise that the GII describes, and to stand out among other middle-income economies," he noted.

China has a long tradition of placing high emphasis on innovation and the capability to turn applications into industrial development. China is also sharing its outcomes from scientific development with other regions of the world, which experts pointed out will help facilitate global development.

For example, in November 2023, China hosted the first Belt and Road Conference on Science and Technology Exchange in Southwest China's Chongqing Municipality. China has signed intergovernmental science and technology cooperation agreements with more than 80 Belt and Road Initiative (BRI) partners, jointly building a comprehensive, multi-level, and wide-ranging science and technology cooperation pattern, Xinhua reported.

"China's growth - both economic and also innovation-wise - is significant both for the world and the wider region. China has made notable strides in innovation in fields such as information technology, health, electric vehicles and batteries with commercialized products, and nanotechnology or other deep science fields," Wunsch-Vincent said.

However, several experts also noted to the Global Times that such innovation in China also faces increasing challenges as some people in the West actively call for so-called "technological decoupling" from China.

"China should establish an open international cooperation mechanism for scientific and technological innovation and clearly oppose 'technological decoupling.' It is necessary to build a systematic, multi-level, comprehensive, and targeted international strategy for scientific and technological innovation cooperation," Feng told the Global Times.

"China should continue to strengthen innovation cooperation with the US, deepen scientific and technological cooperation with Russia, make good use of European scientific and technological innovation resources, seize opportunities for innovation cooperation with Japan and South Korea, and actively participate in the formulation of international regulations for emerging technologies," Feng said.

Middle-income economies full of development potential

The GII, launched in 2007 and is now in its 16th edition, takes the pulse of innovation by tracking the most recent global innovation trends and benchmarking about 130 countries worldwide and the top 100 science and technology clusters on their innovation performance.

With the theme "Innovation in the Face of Uncertainty," the GII 2023 report used the average of the input and output sub-indices to track the global state of innovation. The highlight is that innovation investments showed mixed performance in 2022 within a context of many challenges and a downturn in innovation finance, Wunsch-Vincent said.

According to Wunsch-Vincent, in 2023, global scientific publications, research and development (R&D), venture capital (VC) deals, and patents continued to increase more than ever. However, growth rates were lower than the exceptional increases seen in 2021. In addition, the value of VC investment declined and international patent filings stagnated in 2022. In particular, reflecting a deteriorating climate for risk finance, the value of VC investments declined sharply in 2022 from an exceptionally high level in 2021. And the VC volumes declined by over 30 percent in 2023 relative to 2022, and are expected to be only half of the amount invested in the VC boom year of 2021.

Wu Jinxi, Director of the Strategic Emerging Industries Research Center at the School of Social Sciences of Tsinghua University, told the Global Times that in the face of global issues such as rising R&D costs and slowing patent growth, the efficiency of scientific research and innovation system should be improved first, and scientific research resources should be allocated reasonably, "putting money where it matters most."

Despite downward pressure on the global economy, countries should not reduce investment in scientific research, he said.

However, many experts and analysts from various countries also see the current situation of opportunities and challenges coexisting. The 2023 GII report shows that the innovation performance of middle-income economies as a whole is quite remarkable. In the last decade, China has become the fastest-growing middle-income economy on the GII rankings along with Turkey, India, Vietnam, the Philippines, Indonesia, and Iran.

A total of 21 economies, mostly in sub-Saharan Africa, Southeast Asia, East Asia, and Oceania, are rated by the report as "exceeding expectations" in terms of their innovation performance relative to their level of economic development. India, Moldova, and Vietnam have outperformed expectations for 13 consecutive years.

According to Feng, the reason behind these economies' performance exceeding expectations is mainly the world governance pattern of globalization and multilateralism. In the context of the new round of scientific and technological revolution, the transformation and upgrading of traditional industries and the development of emerging industries have provided a historic opportunity for developing economies to catch up with developed economies in new areas, he noted.

Compared with Western countries using technological monopoly advantages to contain developing countries and emerging economies, China is more willing to share innovative technologies through technology transfer or joint development said Liang Zhihua, president of Southeast Asia Social Science Research Center.

Liang believes that with the export and sharing of China's scientific and technological innovation, the digital transformation of middle-income and emerging economies, including Malaysia, will further be propelled.

Wunsch-Vincent noted that the GII report is a "tool for action" regarding innovation policy for governments around the world. A survey carried out by WIPO in 2022 showed that 70 percent of WIPO member states were using the GII to improve innovation ecosystems and metrics, as well as being a benchmark for national innovation policies or economic strategies.

In Feng's view, middle-income economies have the corresponding economic strength, scientific and technological foundation, and late-comer advantages, and have the opportunity to become a new engine of global innovation, but this is not an inevitable result.

"Only by balancing the relationship between the government and the market, formulating sound industrial and financial policies, building a market-oriented, legalized, and internationalized business environment, and stimulating the motivation and vitality of enterprises to innovate through market mechanisms can middle-income economies be expected to become the main force of innovation," he said.

Prinat Apirat, Consul General of Thailand in Shanghai, recently attended the opening ceremony and related activities of the 2023 China Yiwu Imported Commodities Fair in Yiwu, East China's Zhejiang Province.

Following this, the Consul General Apirat, together with embassy and consulate representatives, met with, Yiwu City Mayor Ye Bangrui, and the Yiwu Municipal Government made arrangements for Apirat to visit the China Yiwu International Trade City, which is the largest wholesale market of small commodities in the world. 

Apirat also visited Yiwu Port, which is a land port with an efficient online customs clearance system and is seamlessly connected with Ningbo-Zhoushan Port in Zhejiang Province, which has been the world's largest port in terms of cargo throughput for 14 consecutive years.

During this visit, the Consulate General of Thailand in Shanghai also promoted future opportunities for Thai entrepreneurs to participate in the China Yiwu Imported Commodities Fair, and encouraging Yiwu to use Thailand as a regional distribution base.

In a video message to the Opening Ceremony of the Symposium on Global Maritime Cooperation and Ocean Governance 2023 held on Wednesday in South China's Hainan Province, China's top diplomat Wang Yi reiterated China's commitment to settling disputes and disagreements through dialogue and consultation while warning against maritime bloc confrontations. 

"Disputes over maritime territory and rights and interests that are left from history should be resolved through friendly consultation between the parties directly concerned. Bloc confrontation and zero-sum games at sea must be firmly rejected," said Wang, Chinese Foreign Minister and a member of the Political Bureau of the Communist Party of China Central Committee. 

Wang said China would continue to work with ASEAN countries to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea (DOC), agree on a Code of Conduct (COC) at an early date, and foster a peaceful and secure order in the South China Sea. 

The remarks came amid some disturbing changes in the South China Sea, including the notably frequent provocations from the Philippines against China in the region since August. The increasing provocations have led to growing concerns about potential "violent crashes between China and the Philippines" among experts and officials who closely follow related issues.

In the latest provocative move, the Japanese government promised to give five ships to the Philippine Coast Guard (PCG) to boost its maritime security capability, as the two countries - two of the US' closest allies in Asia - are working with the US to help enhance Manila's security capabilities, according to Reuters.

Apart from the Philippines, Vietnam is also stepping up its land reclamation in the South China Sea. The country has been building a reef in the Nansha Islands and expanded its reclaimed area in the region more than four times in less than a year, according to media reports.

Although frictions, disputes, and claims of conflict have always existed in the South China Sea, some incidents are inevitable. However, it is surprising that these incidents have occurred so frequently in the context of the overall good relations between China and the Philippines, as noted by some experts. 

They pointed out that the current tense situation in Ren'ai Reef has largely been caused by the overt or covert intervention of the US, calling on the Philippines to come back to bilateral dialogue to seek peaceful resolution to disputes rather than blindly following a third party's footsteps to target China as an enemy and risk aggravating the situation. 

Increasing provocations

The Philippines started the recent wave of provocation over China's islands and reefs in the South China Sea on August 5, when two Philippine transport ships escorted by two Philippine coast guard ships illegally trespassed into waters off China's Ren'ai Reef of the Nansha Islands, forcing the China Coast Guard (CCG) to take lawful, necessary measures, including issuing a warning with water cannons, to block the Philippine vessels that were carrying illegal building materials.

The aim of the trespassing ships was to reinforce a Philippine warship that was illegally grounded on Ren'ai Reef in 1999. At the time, China lodged solemn representations and the Philippines promised several times to tow away the grounded vessel.

Now, 24 years has passed, and the Philippines not only has not towed away the warship, but is attempting to repair and reinforce it now that it is on the verge of disintegration, so the Philippines can occupy China's Ren'ai Reef permanently.

On August 22, the Philippines made another attempt to send illegal building materials to Ren'ai Reef, again sending two transport ships and two coast guard ships, which were again restricted by the CCG.

After the CCG restricted a third attempt by Philippine transport and coast guard ships to reinforce the illegally grounded warship on Ren'ai Reef on September 8, the Philippines switched to Huangyan Island on September 22 to divert China's attention from Ren'ai Reef and increase its bargaining chips.

Following yet another attempt to reinforce its grounded warship on Ren'ai Reef on October 4, which was also restricted by the CCG, the Philippines returned to Huangyan Island on October 10, when a Philippine navy gunboat intruded into waters off the Chinese island despite repeated warnings from the Chinese side.

The Philippine gunboat was expelled by the CCG through professional, lawful measures.

It marked the first event since the start of the Philippines' recent provocations since August that the Philippine side deployed a naval vessel to stir up trouble, which analysts said was a sign of escalation of tensions from a paramilitary level to a military level.

The Philippines then claimed that a Chinese naval vessel had shadowed a Philippine warship on October 15 near Zhongye Island, another Chinese island in the Nansha Islands, to disrupt a resupply mission. 

The tensions around Ren'ai Reef again escalated on October 22, when the Philippines hyped collision events in its latest attempt to send vessels to the reef.

In the latest provocation by the Philippines, a Philippine navy corvette illegally trespassed into waters off China's Huangyan Island on October 30.

Instead of the CCG, the Chinese People's Liberation Army (PLA) Southern Theater Command organized naval and aviation forces, tracked and monitored, verbally warned, and then blocked and restricted the Philippine warship in accordance with the law.

With the involvement of military ships from both sides, observers warned of potential violent clashes between China and the Philippines in the South China Sea. 

China will not step back when it comes to safeguarding national security and territory, a military expert told the Global Times on condition of anonymity, while for the Philippines, the US will not allow it to retreat. 

US shadow

The US is without doubt the biggest negative element that is affecting the peaceful and stable situation of the South China Sea, Wu Shicun, president of the National Institute for South China Sea Studies, told the Global Times. 

The overall situation in the South China Sea remains stable and controllable. The second round of text review consultations on the COC have been completed as planned and the third round of review has been officially initiated. At the bilateral level, China and relevant countries such as the Philippines have established emergency communication hotlines between their foreign ministries and have conducted productive dialogue, laying the foundation for the stabilization and improvement of the situation in the region. However, at the same time, there have been some disturbing changes, including increasing military presence by some external countries and bloc confrontation targeting China led by the US, Wu pointed out.

In a recent event, two sorties by a vessel-borne helicopter from the Canadian Navy's frigate HMCS Ottawa with unknown intentions approached China's territorial airspace above the Xisha Islands, and despite the PLA naval and aviation forces' lawful identification, verification and repeated verbal warnings, the Canadian helicopter not only refused to respond, but also took provocative maneuvers including flying at a very low altitude, Senior Colonel Zhang Xiaogang, a spokesperson for China's Ministry of National Defense, said in a press release on Saturday.

It marks a third provocation from the Canadian military over the past month. In mid-October, a Canadian CP-140 reconnaissance aircraft illegally entered China's airspace over Chiwei Islet, approached China's eastern coast and entered the Taiwan Straits for close-in reconnaissance, forcing the PLA Air Force to take lawful management and control measures.

On November 1, the Canadian Navy's HMCS Ottawa frigate made a transit through the Taiwan Straits together with the US Navy's USS Rafael Peralta destroyer, while the PLA handled the event in accordance with the law and regulations.

Since 2021, the US has also been building small cliques with relevant countries in or outside the South China Sea, such as the Quad Security Dialogue between the US, Japan, India, and Australia, and the trilateral cooperation between the US, Japan, and South Korea, as well as the AUKUS alliance between the US, the UK and Australia. 

In May this year, the US and the Philippines signed the Bilateral Defense Guidelines. In September, the navies of the two countries launched their first joint patrol in the South China Sea. 

The US is attempting to use the joint patrol as a lever to build a mechanism for coordination among the US, the Philippines, Japan and Australia in the South China Sea. These US-led cliques all regard China as an imaginary enemy, according to Wu.

The essence of the disputes over the South China Sea is the disputes over territorial sovereignty and maritime jurisdictional claims among various claimants. While China has been actively seeking and promoting a maritime cooperative mechanism to solve the disputes, the US' partiality and connivance to some claimants has encouraged provocative actions. These claimants do this to enhance their own interests and create a "fait accompli" before the COC is launched, Wu explained.  

Such actions hinder the implementation of practical cooperation under the forum of the DOC, Wu noted, and he predicted consultation on the COC would enter a "deep water area" in the third round of the review.  

Back to direct talks

The second round of text review for the COC was completed in July during the ASEAN-China Foreign Ministers' Meeting. The ministers agreed during the meeting to complete the COC negotiations before fall 2026, according to the Associated Press.

But the previous two rounds of review did not address core issues such as geographical scope, island construction, oil and gas extraction, and implementation mechanisms. As the negotiations enter the third round, the divergences, the conflicts and the dilemmas of all parties will gradually surface, Wu pointed out. One need not go into the details to imagine how challenging it will be for 11 countries to reach a consensus on these issues, he said.

The Philippines and Vietnam may want the COC to be launched as late as possible so that they can boost their negotiating position with the support of the US. But is the US a reliable backer for these countries? Observers hesitate on this question and have called on relevant countries to put more emphasis on direct talks rather than reliance on the intervention of a third party.

Obviously, the US is the biggest external factor in the South China Sea. It is widely believed in China that the US is behind almost all of the provocations in the South China Sea. But this is only part of the US' strategy to contain China. Another strong concern of the US is to avoid being dragged into conflict merely over land features in the South China Sea, Yang Li, executive director of the Institute for China-Europe Studies, said at a round-table meeting jointly organized by Malaysia-based think tank East West Bridge and Chinese think tank Global Governance Institution (GGI).  

Some observers slammed current Philippine President Ferdinand Romualdez Marcos Jr for abandoning his predecessor's more friendly policy toward China. Instead, he has focused more on enhancing ties with the US to promote the development of his country's military capabilities. By doing this, Marcos Jr is hoping to consolidate domestic support. In addition, by constantly provoking troubles with China in the South China Sea, he also wants to test how strong the US-Philippines alliance is, observers said.

In the past six to seven years, the South China Sea dispute between the two countries has been well managed. Relevant bilateral mechanisms have been put in place and have been progressing as planned. However, the current situation between the two countries is continuously escalating. This is because the development of these events is not a simple repetition of what happened 10 years ago, but rather a significant change and deterioration in the environment. 

Geopolitical tensions around the world are intensifying, and the strategic competition between China and the US is escalating. In this unfriendly environment, any incident between China and the Philippines will face greater risks. Compared with 10 years ago, today's events are more prone to spiraling out of control. Therefore, both China and the Philippines must demonstrate greater political will, employ more political wisdom, and allocate more resources to address these disputes and differences, experts said at the round-table meeting. 

China's cyberspace regulator will conduct a special campaign to crack down on the behavior of discrediting companies and entrepreneurs, the latest move aimed at better serving China's private economy. 

The campaign will focus on rectifying the spread of false and untrue information related to enterprises, deliberately spreading rumors to discredit enterprises and entrepreneurs, and extorting enterprises in the name of "public opinion supervision," according to a notice published by the Cyberspace Administration of China (CAC) on Friday.

The regulator also urges website platforms to strengthen the review and management of enterprise-related information, and promptly remind relevant account entities to strictly abide by laws and regulations.

The campaign is in line with China's efforts to boost the development of its private economy. China has long attached great importance to the private sector, encouraging it to play a bigger role in stabilizing growth, market insiders said. 

China should lift some institutional obstacles to further optimize the investment environment for the country's private sector in order to stimulate market vitality for investment, while ensuring domestic firms feel safe investing funds, Yin Yanlin, deputy director of the General Office of the Central Financial and Economic Affairs Commission told the Global Times in an earlier interview. 

The work report of the Standing Committee of the 14th National People's Congress (NPC), China's top legislature, last week pledged to accelerate the formation of a law aimed at promoting the development of the private sector, sending a strong signal of lawmakers' commitment to making continuous improvements in the business environment.

Data from the National Bureau of Statistics showed the private investment in fixed assets slipped 0.4 percent in 2023 from the previous year.

The campaign launched by CAC also highlighted that it will regulate content generated by artificial intelligence (AI) on the internet. 

The work specifically includes the identification of AI-generated content, optimization of the business network environment, rectification of the confusion around enterprise-related infringement on private information, cracking down on illegal internet news and information services, as well as rectification of false and vulgar livestreaming content.

In terms of AI, the cyberspace regulatoe urged website platforms to mark AI-generated information and tag fictional content, as well as handle illegal accounts that use generative or synthetic algorithm technology to create rumors and marketing hype.

This year, AI-related industries in China are expected to see significant development, in which the application of generative AI technology is a particular focus, Wang Peng, an associate research fellow from the Beijing Academy of Social Sciences, told the Global Times.

"This means it is necessary to improve regulatory policies to ensure the responsible use of AI technologies and protect data privacy," Wang said.
An interim regulation on the management of generative AI services went into effect in August 2023. The CAC said that the move was aimed at promoting the sound development of generative AI and its standard applications, safeguarding national security and social public interests, and protecting the legitimate rights and interests of citizens, legal entities and organizations.

China's first comprehensive AI regulation, named Interim Measures for the Management of Generative Artificial Intelligence Services, covers an array of measures aimed at enhancing generative AI technology while establishing basic norms for providers of generative AI services.

Some Indians may truly believe that trade protectionism can help accelerate the localization of smartphone manufacturing in the country, but those people are going to be deeply disappointed by the result.

It was reported by Indian media outlets that there are three big changes that the Indian government wants Chinese smartphone companies to make. First, Chinese brands should have Indian management. Second, they should appoint Indian distributors. Third, they should use local contract manufacturers, according to Business Today, an Indian publication. All three requirements are protectionist measures that will seriously disturb the market order.

People were apparently stunned by Indian media's bluntness in admitting that Chinese companies were being forced to adopt Indian management, distributors, and manufacturers. The situation reflects a rise in trade protectionism in India, under which nobody even feels ashamed in openly talking about protectionist measures. It's a shame, though, for the Indian economy.

In recent years, India has stepped up moves against Chinese smartphone makers after benefiting from their capital and technology. Chinese smartphone producers have been the harder-hit targets of selective enforcement and targeted interference.

Although forced localization measures may give a short-term boost to India's manufacturing sector, it will be like drinking poison to quench one's thirst. In the long run, protectionist measures will seriously undermine the confidence of investors in India's market.

While some Indians have been focusing on nationalism, protectionism and using border disputes as an excuse to suppress Chinese enterprises, less attention has been paid to the real story of Chinese companies' localization process. Chinese smartphone enterprises have never refused to promote localization. On the contrary, they have been adopting a proactive approach to promote localization, hoping their strategy can help them win more customers in the Indian market. For example, The Times of India reported in July 2023 that China's Xiaomi would focus more on retail outlets to revive smartphone sales after years of big bets on e-commerce. This meant that Xiaomi would hire more in-store promoters, creating more jobs in India.

The localization strategies Chinese smartphone enterprises have adopted will benefit the Indian economy. However, despite achievements, they continue to face many challenges that have seriously slowed down their progress in localization. For instance, India's high tariffs have increased production costs. More importantly, a series of challenges, such as a lack of skilled workers and weak industrial infrastructure, constrain the development of India's manufacturing sector.

So, Chinese enterprises may face a dilemma. Intense market competition forces them to localize their business in India to win market share, but it's difficult to promote localization due to the constraints of development.

What India should do now is address the fundamental and structural problems in its economic development and lay a solid foundation for sound and fast manufacturing growth. At the very least, India should provide a fair, non-discriminatory business environment for foreign companies to invest and operate in the country. This will help Chinese companies solve the difficulties encountered in the process of localization and enhance their confidence in the Indian economy. 

However, according to Indian media outlets, the country has taken an unjust stance in ignoring Chinese companies' economic interests: The government has relied on administrative measures to force companies to localize their operations in India. 

Although protectionist measures may bring some benefits in the short term, they cannot fundamentally solve problems and promote localization. Protectionist measures will have serious negative impacts on the economy in the long run.

China has stepped up punishment on capital market crimes including financial fraud, fraudulent IPOs and market manipulation. Financial practices must comply with laws and regulations, executives must be severely punished and underwriters must be held liable for negligence, Zhang Jun, president of the Supreme People's Court, said on Friday while delivering a report to the second session of the 14th National People's Congress (NPC).

For example, a company listed in National Equities Exchange and Quotations falsely increased revenue by 300 million yuan ($41.74 million) in its stock issuance, under-disclosed bank borrowings by 1 billion yuan, and fraudulently issued additional shares. The court ordered it to compensate investors 49 million yuan, and the company's executives bear up to 100 percent joint and several liability for negligence. Also, the intermediary agency responsible for verification shall bear 20 percent joint liability, Zhang said.

In 2023, the people's courts concluded 3.032 million financial cases, a year-on-year increase of 8 percent, according to Zhang. 

Also on Friday, Supreme People's Procuratorate (SPP) Procurator-general Ying Yong said that the SPP has strictly cracked down on financial crimes, and prevented and resolved financial risks in the past year. 

There were 27,000 people prosecuted for financial fraud and crimes that disrupted financial management order, including 18,000 for fund-raising fraud and illegal absorption of public deposits. 

We prosecuted 346 people for securities crimes such as fraudulent issuance, insider trading, and market manipulation, and jointly safeguarded the security of the capital market and the legitimate rights and interests of small and medium investors, Ying said.

Together with the State Administration of Foreign Exchange, we release typical cases to severely crack down on foreign exchange-related crimes. The SPP strengthened anti-money laundering cooperation with other departments and prosecuted 2,971 people for money laundering crimes, a year-on-year increase of 14.9 percent, Ying said.

The China Securities Regulatory Commission (CSRC) will strive to improve the quality of listed firms through supervision efforts in key areas such as IPOs and delisting. Furthermore, it will enhance regular supervision efforts on firms after they go public by cracking down on fraud and other violations in accordance with the law, CSRC Chairman Wu Qing told a press conference held Wednesday on the sidelines of the ongoing session of the national legislature.

China's monetary policymakers have a rich toolbox and ample options, and there is still further room to slash the reserve requirement ratio (RRR), Pan Gongsheng, governor of the People's Bank of China (PBC), the central bank, said on Wednesday.

Speaking at a press conference during the ongoing second session of the 14th National People's Congress, Pan said that the average RRR of China's banking industry, which is the proportion of money that lenders must hold as reserves, remains at 7 percent currently and there's room to cut it further.

Pan said that the PBC will pay more attention to striking a balance between the short term and the long term, between seeking steady growth and preventing risks, and between internal equilibrium and external equilibrium in its monetary policy regulation.

The PBC will also strengthen counter-cyclical and cross-cyclical adjustments while focusing on boosting market confidence and stabilizing expectations and prices to create a favorable monetary and financial environment for the economy's operations and development.

The considerations outlined by Pan underscore the resilience of China's monetary policy with further room to respond to unexpected situations, Sun Lijian, director of the Financial Research Center at Fudan University in Shanghai, told the Global Times on Wednesday.

China's high-quality deployment targeting investment has created various channels for implementing the country's monetary policy and broad scope for fiscal policy to take effect, Sun said. He added that the utilization of monetary policy for supporting fiscal policy and the real economy through the financial sector will be a major focal point for boosting domestic demand.

Sun noted that implementing a flexible and appropriate monetary policy to ensure adequate liquidity will help tackle external challenges amid the current complex global environment, which may lead to unstable investment flows, stressing the significance of adapting structural monetary policy instruments for uncertainties.

Pan said that the Chinese central bank will utilize comprehensive monetary policy tools to achieve targets, such as maintaining a reasonable level of liquidity.

In 2023, the PBC lowered the RRR twice by 0.25 percentage points each time. It cut the RRR by 0.5 percentage points in February this year, which provided 1 trillion yuan ($138.9 billion) of long-term liquidity to the market, Pan said.

In addition to maintaining reasonable growth, Pan said that the PBC will continuously lower the cost of social financing in a steady manner. The central bank will approach maintaining price stability and promoting a moderate price rebound as significant considerations for its future monetary policy, while considering the soundness of banks' balance sheets, Pan noted.

Pan said that the central bank cut interest rates twice in 2023 and guided major banks to lower deposit rates while making a cut of 0.25 percentage points for the five-year loan prime rate (LPR) in February, as these measures will firmly contribute to lower financing costs and supporting investment and consumption.

The RRR and LPR cuts indicate a significant increase in monetary policy support for the economy, which helps accelerate the recovery and boost market confidence in the improvement of economic growth and corporate profits, Chang Haizhong, executive director of corporates at Fitch Bohua, said in statement sent to the Global Times on Wednesday.

Chang expects that the LPR will be lowered twice more this year by a total of 20 basis points, and the RRR for financial institutions will continue to decrease, too.

China should implement a prudent monetary policy in a flexible, appropriate, targeted and effective way, and should improve the monetary policy transmission mechanism to prevent funds from sitting idle or simply circulating within the financial sector, according to China's 2024 Government Work Report, which was delivered on Tuesday.

The central bank will further increase the efficiency of monetary policy in promoting economic restructuring and maintaining the exchange rate at a reasonable and stable equilibrium level, Pan said.

Pan said the main participants in the foreign exchange market have become more mature with a growing number of business entities using exchange rate hedging tools and the yuan for cross-border settlement, as the fundamentals of China's economy continue to rebound and improve.

As of February, the yuan's share in cross-border payments for merchandise trade in China reached 30 percent, according to Pan.

The 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, kicked off its second session on Monday, marking the start of the annual two sessions. The second session of the 14th National People's Congress (NPC), the country's top legislature, is set to open on Tuesday.

This year's political gatherings carry extra weight for the Chinese economy, as 2024 will be a crucial year for the realization of the goals and tasks of the 14th Five-Year Plan (2021-25), and the new government is set to submit its Government Work Report to the NPC annual session for deliberation for the first time.

The session usually reviews past achievements and sets development targets for the current year and beyond.

At a time when mainstream Western media outlets are flooded with reports of China grappling with various difficulties - deflation, a property crisis, mounting debt burdens and a foreign capital exodus - the two sessions will serve as a crucial window for the world to observe the country's economic development and understand its policy direction for the year ahead, which Western media outlets said investors are watching closely for signals of a "bazooka-like stimulus." 

It's not unusual to see Western media outlets run bearish reports badmouthing the Chinese economy around the major political event every year. For instance, a report published by the Financial Times on February 27, 2023, was headlined "The implications of China's mid-income trap," while CNN ran an article entitled "China's economy had a surprisingly good start to the year, but it may not last" in March 2022.

Yet, China still accomplished its 2023 GDP growth target despite downward pressure and challenges, and the underlying trends of a rebound in the economy and long-term growth remain unchanged. Such economic fundamentals further prove that the ill-intentioned "China collapse" theory cannot withstand the test of time.

Why have Western predictions about a hard landing for the Chinese economy never come true? The key lies in the inability to understand that China's economic development has its own rhythm and policy direction, which will not be influenced by Western hype. The reason why the two sessions are of great importance to China's economy is not only because of the GDP target issued during the meetings, but also because of the policy direction set for achieving stable economic development in the year ahead.

There is no denying that China's GDP target has been the focus of world attention, which is not surprising given its huge economic size and important implications for the global economy. The Chinese government has always stressed the importance of the quality of economic development, rather than just the growth rate, but GDP, as a major measure of a country's economic strength, is still one of the most important economic metrics in China. 

It is true that China's economic growth has slowed in recent years amid unprecedented and complicated domestic and external market challenges. This is mainly because the economy is undergoing a period of adjustment and transformation. Despite the difficulties and downward pressure, China is still on a solid footing and its GDP growth rate remains relatively fast among the world's major economies. 

If anything, China's consistent economic performance over the years is the best proof that it has the ability to transform its economy while maintaining growth momentum.

During China's two sessions, much attention is often paid to the country's GDP growth target. However, it is crucial to look beyond mere numbers and understand the implications of new policies and measures to be implemented by the Chinese government to address economic challenges. Because the policy direction not only promises positive influence on China's economic prospects, but also presents opportunities in the country's future development.