China's focus on fostering and enhancing the big data ecosystem will greatly drive the high-quality growth of its digital economy and promote international cooperation, experts and industry insiders from home and abroad said at the China International Big Data Industry Expo 2024.

This year's expo, which kicked off on Wednesday in Guiyang, Southwest China's Guizhou Province, showcases the latest applications of big data technology and digital transformation. It also highlights China's efforts to strengthen international digital cooperation, especially in data flows, the Global Times learned.

Analysts said that cross-border data flows are critical for global socioeconomic interactions and underpin international business operations, logistics, supply chains and communication. 

"There are significant opportunities for global cooperation in the big data-related sectors," Atul Athavale, a Germany-based cloud AI architect who is working with Huawei's research institute in Europe, told the Global Times on Wednesday.

Athavale noted that Germany remains open to cooperation, indicating a positive trend in China-Europe business relations. 

"While the geopolitical landscape may present challenges, there will always be opportunities for businesses to connect and collaborate," said Athavale.

Right before the expo, China and the EU established a mechanism for cross-border data flow communications on Tuesday to enhance two-way data flows.

This mechanism aims to facilitate the secure and efficient transfer of data between China and the EU, promoting economic growth and innovation.

Apart from China-EU cooperation in the digital field, China is advancing global cooperation, with Chinese companies having contributed to the global process of digitalization and big data cooperation.

Chen Xuannian, a manager at Chinasie, a Guangzhou-based information technology firm, told the Global Times that the company helps enterprises complete their digital intelligence transformations and is actively offering digital services to about 200 Chinese companies operating overseas.

Data has become a new factor of production and serves as the key element of the digital economy, a representative of iFlytek told the Global Times. The company is rolling out numerous AI-driven applications for global users.

In recent years, China's data industry has grown, and preliminary calculations have indicated that the industry will maintain an annual growth of more than 20 percent over the coming years, Liu Liehong, head of the National Data Administration, said on Tuesday at a sideline event at the Big Data Expo 2024.

China has formed a relatively complete data industry chain, covering the entire life cycle of acquisition, storage, calculation, management and use, the official said, noting that the administration will work on a four-part approach to nurture the development of the data industry, and improve the quality of the digital economy.

Hong Kong will create better environment for expanding yuan usage, offering more yuan products and risk management tools to enable international investors to use yuan for trade and investment, Hong Kong Financial Secretary Paul Chan Mo-po said on Thursday.

Chan made the remarks at the Bund Summit, jointly organized by China Finance 40 Forum and China Center for International Economic Exchanges in Shanghai.

Hong Kong will also continue to support the central, provincial, and municipal authorities of the Chinese mainland to issue the yuan-denominated bonds in Hong Kong, Chan said.

He said mBridge - a platform jointly developed by the People's Bank of China, the Hong Kong Monetary Authority, and other central banks to facilitate faster cross-border settlements using the respective currencies - has reached its minimum viable product stage and begun serving corporate transactions in June.

Over the long-term, the project will lower trade transaction costs and facilitate multilateral capital flows, while supporting the internationalization of the yuan, Chan noted.

The Chinese yuan retained its place as the 4th most active currency for global payments by value in July for the ninth straight month, with its share rising to 4.74 percent, according to data provided by SWIFT. This marks steady internationalization of the currency amid the country's resilient economic growth and firm commitment to reform and opening-up.

As an international financial center, Hong Kong can play a unique and vital role in advancing the high-level opening-up of the Chinese mainland's financial sector, Chan said.

He said that Hong Kong is the preferred conduit to access the Chinese mainland's financial market.

"On the back of the One Country, Two Systems framework, we practice common law, with a highly regarded rule of law culture, and ensure the free flow of capital, talent, and information," Chan said.

International financial institutions maintain a strong presence in Hong Kong, with over 70 of the world's top 100 banks, and 7 out of the top 10 global insurance companies now operating in the city, data showed.

For the past four decades, Hong Kong has acted as a "testing ground" for the mainland's financial market reform and opening-up, beginning with the introduction of H-shares for mainland-based enterprises on the Hong Kong Stock Exchange in the 1990s, Chan said.

With the staunch support of the central government, the "Connect Schemes" between the mainland and Hong Kong are expanding. In April this year, the China Securities Regulatory Commission announced further measures to enhance the system's scope and depth, one of which is the inclusion of the yuan counter in the Stock Connect.

China's technological development in tunnel boring machines (TBMs) has greatly advanced, from scratch to cutting-edge over the past decade, exemplifying the country's progress in high-tech manufacturing. 

Currently, seven out of every 10 TBMs used worldwide come from China, while 95 percent of the TBMs operating in the country were manufactured domestically, according to media reports. 

In a recent development, China’s largest-diameter underwater shield tunnel began the tunneling process on Sunday for Huanggang Road in Jinan city, East China’s Shandong Province, using the “Shanhe” TBM with a diameter of 17.5 meters, China Media Group reported on Monday.

TBMs can excavate tunnels using a circular cross-section that drills through soil and rock strata, seamlessly laying concrete segments to construct tunnels, subway tubes and sewer lines.

The “Shanhe” TBM is 163 meters in length, 5,200 tons in weight, and the diameter is equivalent to the height of a 6-storey building, which will operate through 3,290 meters in the tunnel that has a total length of 5,755 meters. 

The length of the “Shanhe” TBM is equivalent to 16 connected buses with a weight equivalent to 520 adult elephants, making it the largest among the TBMs used in construction projects globally, said Huang Lu, a project manager in charge of the TBM. 

The “Shanhe” TBM is equipped with advanced equipment, including dedicated telescopic cameras. The relatively larger TBM requires a more complex manufacturing process and poses construction difficulties, with higher risks compared with traditional models, according to CMG.

In recent years, the diameter of TBMs produced in China has been increasing, enabling their use in a wider range of applications and significantly improving the efficiency of construction projects. The use of TBMs has also been extending from traditional fields such as the construction of urban rail transportation to more sectors including railway construction, mining, and other industries, offering a new growth point for economic development. 

China’s continuous industrial upgrading and transformation will further spur high-quality economic development, while the rapid development of emerging industries including the high-tech manufacturing will become an important engine driving up the economy, Wang Peng, an associate research fellow from the Beijing Academy of Social Sciences, told the Global Times. 

The market scale of China’s TBMs reached 27.6 billion yuan ($3.87 billion), achieving year-on-year growth of 14.05 percent in 2022, which is expected to reach 40 billion yuan in 2024, according to data from the China Construction Machinery Association. 

Profits generated by Chinese industrial enterprises above the designated size increased by 3.6 percent year-on-year in the first seven months, up 0.1 percentage points from the first half year, the National Bureau of Statistics said in August. High-tech manufacturing led the way, with the sector's profits soaring 12.8 percent year-on-year from January to July. The improvement boosted overall industrial profit growth rate by 2.1 percentage points. 

From the stunning portrayal of Chinese modernization to the inspiring tales of self-improvement and perseverance demonstrated in the nation's technological advancements, from the unwavering sportsmanship and profound patriotism exhibited by Olympic athletes to the unique emphasis on the rule of law in education, Chinese primary and high school students embraced the start of their new school year by attending exceptional "first lessons," setting out on a path to becoming a resilient, patriotic and self-assured generation.

At the opening ceremony of the new semester at Beijing No.4 High School on Sunday, Ying Yong, procurator-general of the Supreme People's Procuratorate, delivered the first rule of law class to the students. He explained the importance of respecting and abiding by the law.

Ying delivered the "first lesson" as the school's vice principal for rule of law, whose responsibility includes not only carrying out legal education for minors, but also assisting schools in establishing a comprehensive mechanism for preventing sexual abuse, sexual harassment, campus bullying, and integrating judicial protection into school protection.

Officially taking effect in 2022, the policy of vice principals for rule of law in primary and secondary schools plays an important role in promoting the thorough implementation of education laws and juvenile delinquency prevention laws. It is of great significance for effectively protecting the legitimate rights and interests of young people and promoting their healthy growth, analysts said.

The problem of school bullying nowadays is partially attributed to a lack of sufficient education on the rule of law. Therefore, emphasizing such education is conducive to strengthening the protection of minors, Xiong Bingqi, director of the 21st Century Education Research Institute, told the Global Times on Monday.

In addition, the "first lesson" of the new school year broadcast by China Central Television on Sunday evening also offered students a great chance to appreciate a "lovely China" by inviting guests such as historians, wildlife rescuers, Olympic athletes, military transport aircraft captains, and AI and aerospace technology experts to share their stories of unremitting self-improvement. 

A wide range of images such as the oracle bone pits in the Yin Ruins, the cross-sea bridge spanning the Lingding Channel, and the landing of the Chang'e-6 probe on the far side of the moon also allowed students to witness the stunning landscapes of China and experience the rapid progress it has made over the years.

The series of inspirational, motivational lessons inspired students' interest in scientific exploration and promoted their spirit of patriotism, innovation, and hard work.

Chinese President Xi Jinping held a welcome ceremony here on Monday for South African President Cyril Ramaphosa, who is on a state visit to China.

Three dock workers have been sentenced to prison after being convicted of stealing cultural relics from exposed Western Han Dynasty (206BC-AD25) tombs in the Three Gorges Reservoir area, according to a report by The Paper on Saturday.
The three men, identified as Liu and two other accomplices, were sentenced to imprisonment ranging from three years and 10 months to four years and six months, and each was fined 30,000 yuan ($4,190).

In 2011, Liu and his co-defendants discovered exposed tombs when the water level in the Three Gorges Reservoir receded. The trio excavated the site and found 20 items, including Western Han Dynasty bronze drinking and ritual vessels. They later gave up to the police and confessed their crimes in March 2024.

China has a large number of buried cultural relics, especially in the Three Gorges Reservoir area. As early as 2 million years ago, the famous Wushan Man lived in this area. The region is also known for the Bachu culture as well as cultural relics.