Big data expo set to boost digital economy; Chinese firms driving innovation, fostering global partnerships

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 to offer more yuan products to support its internationalization: Financial Secretary

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 tunnel boring machine sector leaps ahead, manufacturing 7 out of 10 TMBs used globally

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. 

Chinese students embrace exceptional ‘first lessons’ of new school year

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.

Xiao Ruoteng's final Olympic performance: never give up

Chinese gymnasts Zhang Boheng and Xiao Ruoteng won silver and bronze medals in the men's individual all-around final in gymnastics at the 2024 Paris Olympics on Thursday. This is likely Xiao's final Olympic appearance, as he bid farewell to the Paris Games in a post that night.

During the all-around final, team captain Zhang made an error on the first apparatus, the floor exercise. Commentators noted that the mistake was likely due to fatigue rather than technical issues.

For all-around athletes, the nearly three-hour competition across six pieces of apparatus is physically draining.

Despite the early setback, Zhang performed exceptionally well on his subsequent rotations. Although he staged a remarkable comeback, Zhang had to settle for silver, being beaten out for the gold by Japanese gymnast Oka Shinnosuke by the slimmest of margins.

Regarding his upcoming individual events, Zhang said, "Enjoy the competition, and there is nothing to regret. Life is about looking forward."

"I approach this as my final all-around event and final high bar routine in my Olympic career," Xiao stated before the final.

In 2016, Xiao was unable to compete in the Rio Olympics due to an elbow injury.

Xiao was set to retire after the Tokyo Olympics, but he continued through another Olympic cycle despite injuries to pursue his Olympic dream.

At the Tokyo Olympics, Xiao and his teammates won a bronze medal in the men's team event. He also secured a silver in the men's individual all-around final and a bronze in the men's floor exercise.

Unfortunately, at the Paris Olympics, he once again fell short of an Olympic gold medal and may not have another chance.

"I hope the spirit of facing difficulties and challenges, never giving up, and persevering until the end can help you!" This is the message Xiao aimed to convey in his farewell post to the Olympics.

China’s Jiaolong submersible makes historic 300th dive

China's deep-sea manned submersible Jiaolong conducted a deep-diving operation in Western Pacific Ocean on Sunday, with foreign scientists involved for the first time. 

Experts said the move indicated a new phase in China's deep-diving scientific research as well as its inclusive global mind-set. 

A scientific expedition team on board research vessel Shenhai Yihao (meaning Deep Sea No.1) arrived at the first operation site in the Western Pacific Ocean on Saturday around 10 pm Beijing time, according to a Xinhua News Agency report on Sunday.

According to Xinhua, Xu Xuewei, chief scientist of the mission, along with crew members Qi Haibin and Zhang Yi, completed the first dive at 11 am on Sunday Beijing time, signifying the successful completion of the 300th dive of Jiaolong.

According to Xu, the team is scheduled to conduct its mission in the Magellan Seamounts in the Western Pacific Ocean, which is regarded as a priority area for future deep-sea biodiversity conservation.

It is an incredible accomplishment to complete deep-diving operations in the Western Pacific Ocean given the sea conditions there, Yu Xingguang, a research fellow at the Third Institute of Oceanography of Ministry of Natural Resources, told the Global Times on Sunday. This proves that China's deep-diving scientific research has ushered into a new phase.

Xinhua said that Jiaolong is scheduled to make 18 dives to collect deep-sea organisms, seawater and sediments, so as to deepen the understanding of the unique ecosystems and environments of seamounts.

Yu noted that Jiaolong enjoys favorable capabilities, combined with its rich experience in deep-sea exploration. Jiaolong's significance, therefore, lies in its potential to contribute to the protection of biodiversity and marine ecosystems.

Tang Dongmei, a senior official of the Ministry of Natural Resources, said at the launch ceremony on Saturday that the China-led Digital Deep-sea Typical Habitats Program had gained the support and participation of 39 countries, Xinhua reported.

As the first international voyage under the program, the expedition also involves scientists from Canada, Spain, Colombia and other countries and regions, according to Xinhua.

This shows how the team members from different countries and regions can share experiences and learn from each other, and demonstrates that China's deep-diving research serves as an international research platform, emphasizing China's open-mindedness to scientific development, Yu said.

Chinese Embassy in UK responds to reports regarding resubmitting planning application for new embassy project

The UK government had given its consent to the Chinese government to purchase the Royal Mint Court in London for the use as the new Chinese embassy premises, and the embassy personnel are in the process of applying for planning permission, the Chinese Embassy in the UK responded on Thursday to media reports that China has resubmitted its planning application for the new embassy project to the Tower Hamlets Council. 

Some British media outlets reported on Saturday that China has revived plans to build a "super embassy" just miles from Westminster in London, and called it "an early test of the new government's approach to China." 

In response to media reports, a spokesperson from the Chinese Embassy in the UK said on Thursday that the Chinese government purchased the Royal Mint Court in London six years ago for use as the new Chinese embassy premises. The UK government had given its consent to this. Now the Embassy is in the process of applying for planning permission, said the spokesperson. 

According to media reports, the new embassy will be built on the former Royal Mint Court site near the Tower of London, covering a total area of about 576,000 square meters. 

The Chinese government reportedly bought the land for roughly $327 million in 2018 but had an initial proposal rejected in 2022 by the Tower Hamlets Council citing safety and security concerns. The proposal was then set aside after China failed to appeal in time, according to media reports.

On Thursday, the Chinese Embassy spokesperson said that the resubmitted planning application has taken into full consideration the UK's planning policy and guidance as well as opinions of all relevant parties, putting forward a high-quality development scheme. 

The Chinese Embassy in the UK is committed to promoting the friendship between the Chinese and British people and the development of bilateral relations between the two countries. Building the new embassy at an early date would help embassy staff better perform such responsibilities, the spokesperson said. 

The spokesperson also noted that host countries have the international obligation to support and facilitate the building of the premises of diplomatic missions. Both China and the UK have the need to build a new embassy in each other's capital, and the two sides should provide facilitation to each other, the spokesperson said. 

Abbas meets Putin in Moscow to discuss Middle East crisis

Palestinian President Mahmoud Abbas met with Russian President Vladimir Putin in Moscow on Tuesday, discussing the situation in the Middle East and Russia's role in de-escalation of the Palestinian-Israeli conflict. 

Analysts said Abbas' visit is to discuss the ongoing Gaza crisis and the intensifying spillovers, especially the conflict between Iran and Israel, while on the other hand, Russia's impact on Hamas may be constructive to strengthen the unity of Palestinian factions.

Russian President Vladimir Putin emphasized on Tuesday that Russia remains attentive to developments in Palestine despite the ongoing conflict with Ukraine, media reported.

"Of course, we are watching with great pain and anxiety the humanitarian catastrophe that has unfolded in Palestine. For our part, we are doing everything to support the Palestinian people," Putin said in a meeting with Abbas.

Putin reaffirmed Russia's commitment to a peaceful resolution.

"We believe that lasting, stable peace in the region requires full implementation of all United Nations resolutions, particularly for the establishment of a sovereign Palestinian state," he said.

Moreover, the Russian president added that they have sent tons of cargo of various kinds. 

Abbas expressed appreciation for the longstanding Russian-Palestinian cooperation, saying that his nation has benefited from Russia's support over the decades.

"Due to US pressure, the UN was unable to fulfill its mission of providing a solution or adopting a resolution that would secure the rights of the Palestinian people," said Abbas, Anadolu news agency reported. 

The meeting between Abbas and Putin came amid concerns over the aggravation of the conflict following Israeli's assassination of Hamas political leader Ismail Haniyeh in Iran on July 31. Iran's Islamic Revolution Guard Corps on Sunday reiterated Iran's determination to retaliate against Israel, while the Israeli side vowed it would attack preemptively before Iran's promised action. 

According to Liu Zhongmin, a professor at the Middle East Studies Institute of Shanghai International Studies University, the Palestinian-Israeli conflict has become more complex, as it involves multiple levels of conflicts, not just between Israel and Hamas, but also between the Israel-US camp and Iran-Iranian backed resistance forces. 

Liu said the Abbas' visit to Russia was designed to garner more diplomatic support for Fatah, but the core concern of his visit is likely to be the conflict between Iran and Israel.

Abbas previously said the purpose of Haniyeh's assassination is to "prolong the war and expand its scope," which has a "negative impact on the ongoing negotiations to end the aggression and withdraw Israeli troops from Gaza," Al Jazeera reported. 

On August 5, Iranian President Masoud Pezeshkian met with the visiting Secretary of Russia's Security Council Sergei Shoigu in Tehran. During the conversation, the Iranian president said that Iran in no way sought to widen the scope of the conflict and crisis in the West Asia region, but that Israel would definitely receive a response to its "crime and insolent" move.

"If the conflict between Israel and Iran intensifies, or even triggers a large-scale conflict, the Palestinian-Israeli conflict will become more complicated and more difficult to solve," Liu said, noting that Abbas is hoping that Russia could wield its influence on Iran to cool the current situation.

On the other hand, Liu said Abbas may also be seeking Russia's help in boosting unity within different factions in Palestine.