Entertainment

Chinese securities firms are gearing up for Tuesday's stock market opening, as domestic investors are lining up to open new stock accounts following a stock rally driven by policy stimulus measures days before the weeklong National Day holidays.

A staff member of a Guangzhou-based securities firm in South China's Guangdong Province told the Global Times on Monday that some employees of the company's wealth management, brokerage business and IT departments were on duty during the Golden Week, which ran from October 1 to October 7 (Monday), to facilitate new stock account openings and to ensure the normal operation of the technological systems.

"During the weeklong holidays, reservations to open new stock accounts surged by about 150 percent month-on-month, mostly from the post-1980s and post-1990s generations," the Securities Times newspaper reported on Sunday, citing a manager with Shanghai-based Sinolink Securities Co.

Due to a recent surge in securities account openings driven by market trends, the China Securities Depository and Clearing Corporation opened its account platform and identity verification system on Sunday, one day earlier than scheduled, to manage the high volume of account reviews, according to media reports.

The Shanghai and Shenzhen stock exchanges conducted tests on their platforms on Monday to ensure a smoother trading experience, as the combined turnover of the two bourses surged to 2.6 trillion yuan ($270.45 billion) on September 30, the last trading day before the seven-day National Day holidays.

While the A-share market was closed during the National Day holidays, shares trading in the Hong Kong Special Administrative Region gained momentum.

On Monday, the Hong Kong stock market extended its three-week rally, with the Hang Seng Index closing up by 1.6 percent.

"Given the strong stock market performance in Hong Kong, the upward momentum may continue and the A-share market will likely open higher on the first trading day after the National Day holidays," Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times.

Recently, the country's central bank, top securities regulator and financial regulator announced monetary stimulus measures as well as property market support and capital market strengthening measures, to foster China's high-quality economic development.

"The strength and timing of this round of policy rollouts exceeded the expectations of both domestic and global investors," Yang said.

UBS has announced an upward revision of the year-end target price for the MSCI China Index -- an index that captures large and mid cap representation across China's stock market -- to $70, reflecting improvements in policy coordination, US rate cuts and progress in corporate governance reforms, according to a note UBS sent to the Global Times on September 30.

Thirteen years since the China-Europe Railway Express (CRE), a crucial link in international logistics, began operations in Duisburg, the German city's profile as a key hub on the railway has been steadily rising.

During a recent visit by Xinhua reporters, bustling terminals, ports, and warehouses in Duisburg highlighted the city's growing vitality. The CRE has significantly impacted the local business community.

At one of Duisburg's central logistics centers, AUKLogis GmbH, a German subsidiary of the Chinese logistics company Western Post, provides storage and customs clearance services for clients using CRE services. The company has witnessed a shift in local traders' perceptions of the service, from initial skepticism to recognition, resulting in long-term partnerships.

"Our clients often highlight the railway's speed and reliability, which are unmatched by other freight methods," said Fan Yuliang, warehouse manager of AUKLogis GmbH. As the routes expand and improve, trust in the service has continued to grow.

Daniele Materazzo, an operator in the outbound group for China-Europe Railway Express at AUKLogis, told Xinhua that he now receives better pay and feels a sense of stability working with the company. "Despite our language and cultural differences, we support each other as a team. I feel completely at home here," he said.

Markus Bangen, CEO of Duisburger Hafen AG (Duisport), noted that the railway is strengthening ties between Europe and China, opening up a new international transport market that benefits both economies. Duisburg's profile is steadily growing as a key stop on the railway, attracting investment, creating job opportunities, and driving growth in the logistics sector, he added.

In August, a direct route from Chongqing to Duisburg, traversing the Caspian Sea, was put into operation. The route provides a new option for transportation along the so-called Middle Corridor, a trade link between China and Europe that passes through several central Asian and southern Caucasian countries.

Bangen said that since the participants facilitating the Middle Corridor are familiar with CRE operations, the experience gained over the past decade will significantly accelerate the corridor's development.

While enabling faster and more cost-effective delivery of goods from China to Europe, CRE has also opened new trade pathways for European manufacturers and traders aiming to enter the Chinese market, Chinese Consul General in Dusseldorf Du Chunguo told Xinhua. "This exchange has significantly improved consumer welfare and created jobs along the route."

Chinese President Xi Jinping and Kim Jong Un, general secretary of the Workers' Party of Korea and president of the State Affairs of the Democratic People's Republic of Korea (DPRK), on Sunday exchanged congratulatory messages over the 75th anniversary of the China-DPRK diplomatic ties.

In his message, Xi stressed that he highly values the development of China-DPRK relations, and China is willing to work with the DPRK to take the 75th anniversary as an opportunity to strengthen strategic communication and coordination, deepen friendly exchanges and cooperation, and continue to write new chapters for China-DPRK traditional friendship.

Fifty years ago, not only the archaeological community but also ordinary people were stunned by the excavation of the Mawangdui Han Tombs. Among the findings was a remarkable discovery known as China's "Sleeping Beauty" (Lady Xin Zhui), an over 2,100-year-old lady who looks nearly as good as she did when she was buried after her death at the age of about 50, during China's Western Han Dynasty (206BC-AD25). The world has marveled at the mystery behind her body, as well as the numerous precious treasures unearthed from the tombs, including textiles, bamboo and silk manuscripts.

In this Mawangdui trilogy, the Global Times Culture Desk explores how digital technologies have brought the public closer to the heritage and how the "Mawangdui IP" was revived by the creative industries. This is the third installment.
Although there are many sites in China that can embody the country's Han Dynasty (206BC-AD220) history, Mawangdui is the most exceptional one mainly due to its mysterious finds like the 2,100-year-old mummified aristocrat that is known as Lady Xin Zhui.

Three excavations on the site were carried out from 1972 to 1974. At that time, such excavations brought a research craze to the academic field worldwide. Thanks to new means such as the digital technology, such a scholarly craze in the past 50 years has been extended to the public, especially among the young people.

Decoding mystery

Lady Xin Zhui's silk garments are Mawangdui Han Tombs' stellar artifacts. Due to their brittle and fragile nature, many original pieces are now only stored as archives at the Hunan Museum in Changsha, Central China's Hunan Province. To connect the heritage with people, making replication for public display was a crucial task. The task engages both technological tools and the ingenuity of textile experts like Yang Jiyuan.

Yang, a restorer of ancient silk textile in Nanjing, East China's Jiangsu Province, has replicated seven Lady Xin Zhui's garments since 2016. She told the Global Times that the printed and painted floss silk-padded gauze robe was one of the most challenging tasks.

Through examination using a microscope and creating 3D modeling of the original "printed and painted gauze robe," Yang revealed to the Global Times that the piece's air-like fabric actually consists of seven sheerest silk layers, and the thickness of each one of them is like "one-third of the tissue's thickness."

Matching such almost disappearing silk textiles together was not the most challenging task. Yang told the Global Times that the "painting" process was even harder since the colors should keep looking "not too vibrant and new."

She said the gauze needs to be "1:1 the same to the original one" that has more than 2,000 years of history. Thanks to advanced technologies that can decode the ingredients and composition of ancient fabrics, Yang discovered that Lady Xin Zhui's garment was painted in natural mineral dye and was covered with an extra "glue-like substance" to make it look understated while in a good shape. She said that she was only one of the heritage protectors in China, who has "felt the responsibility to show the public a legacy's authentic aesthetics and story."

"Technological tools are our assistants. They ensure the history we deliver to the public is correct," Xiang Benshan, a restorer of underwater ceramic relics, told the Global Times.

Cross-field collaborations

Other than the research sector, technological innovations are now diversely applied on shows that relate to the Mawangdui Han Tombs.

Currently, a blockbuster show called The Art of Life: Multimedia Exhibition of Mawangdui Han Culture is ongoing at the Hunan Museum. The immersive digital project, a collaboration between the Hunan Museum, Digital Library of China, and the Harvard FAS CAMLab, presents a new model for showcasing the Mawangdui Han Tombs through multimedia installations.

The show includes three thematic sections such as "Time and Space." They highlight the artistic grandeur and spiritual reflections of ancient Chinese, giving insight into their concepts of life, death and afterlife.

Lü Chenchen, associate director of Harvard FAS CAMLab, told the Global Times that the future of Mawangdui-themed exhibitions lies in global academic collaboration and the integration of advanced technologies such as VR tools and interactive animations.

"By partnering internationally, institutions can leverage cultural IPs like the Mawangdui Han Tombs and digital tools to broaden access to historical knowledge from different perspectives and different disciplines," Lü told the Global Times.

If the research lab and the museum are where the Mawangdui IP provides intellectual inspirations to people, then the site's cross-field collaborations with the cultural and creative industries have made the heritage a joy of people's everyday lives.

The Hunan Museum recently collaborated with a food brand to launch a "Mawangdui spicy strip," one of the favorite snacks by young people that is also known as La Tiao.

At the museum's "digital Han lifestyle experiencing center," symbols of relics like the round lacquer plate and Lady Xin Zhui's garments have been printed on products like scarves, fans and cakes.

"Music is like a vessel that carries many expressions and culture is one of them," says Azora Chin, a Malaysian singer, describing his musical journey in China. "Chinese culture is vast and profound, and I love every bit of it here," adds Caelan Moriarty, a Cuban-born artist, reflecting on his experiences in the country.

Both artists have built their careers in China, using music as a bridge to transcend cultural and linguistic barriers.

Recently, the Global Times interviewed the two foreign musicians to learn more about their journeys in China and how they have grown both personally and professionally through their art. For them, music serves as a universal language that nurtures cross-cultural connections, and China is a land to explore their musical dreams.

A land of dreams

For Chin, often mistaken for a Chinese national, the connection with China feels almost fated. A Malaysian national of Chinese descent, he grew up immersed in Chinese culture.

"My ancestral home is Fujian Province, and I have been influenced by Chinese culture since childhood. My parents insisted that I attend Chinese-language schools from elementary to high school," Chin told the Global Times.

Chin came to China after graduating from high school to study music at university. "The first time I landed in China, I felt at home," he recalled. "Hearing people speak Putonghua everywhere, I thought of the phrase 'cultural resonance.'"

While studying in Malaysia, he watched numerous Chinese TV shows, which he thought provided a platform for people passionate about music to showcase their talents, skills, and ideas. "I thought it was a fantastic environment," said Chin.

Drawn to the open and creative atmosphere of China's music scene, Chin made the leap to pursue his career in the country. He debuted as part of a music group in China in 2018; and after the group disbanded in 2019, he continued his career as a solo artist. For the last six years, he has been pursuing his musical dreams in China.

"China offers a platform where different forms of expression and musical styles collide. It's exactly what I've always wanted to do," he said.

Similarly, Moriarty, debuted in 2018 at the age of 18 as part of a boy group. His first visit to China was made during a performance with the group. In 2021, he came to China to participate in the reality show CHUANG 2021, where his stage performances won the audience's affection, leading him to establish his career roots in China to pursue his musical dreams.

"It's China that gave me the opportunity to fulfill my dreams, have joyful experiences, and make lifelong friends," said Moriarty.

Speaking about his decision to come to China, Moriarty said, "I'm glad I took that brave step." The "once-in-a-lifetime opportunity" his friends called allowed him to meet more fans and friends, and to experience the beauty of Chinese culture.

"China has so many places worth exploring, and I love every bit of it. Each city has its own unique style and charm." He speaks fondly of his love for the local cuisine, especially the spicy dishes of Changsha, Central China's Hunan Province, and expresses a desire to explore places like Chongqing and the Xinjiang Uygur Autonomous Region.

"If I have the chance, I want to explore China fully. I'd like to visit Chongqing and Xinjiang. I heard that Xinjiang is especially beautiful," said Moriarty.
Cultural messenger

BothChin and Moriarty are participants in the fourth season of the Chinese singing reality show Call Me by Fire. On the show, 34 participants from various countries compete in various performing art forms including singing, dancing, and rapping.

Having been influenced by Chinese culture from an early age, Chin views music as a powerful way to connect people.

"Although there are language barriers between us, when we work together to create a piece, we realize that language is not an obstacle. Good work transcends words," he said.

In Chin's view, culture can awaken people's senses, and music brings people closer together. "We can't remember all cultures in our lifetime, but music is like a vessel that can carry many expressions, and culture is one of them."

For Moriarty, growing up in a multicultural family gave him a natural appreciation for diversity.

Working with other members, each from different cultural background, he has learned to embrace differences as a source of inspiration. "Cultural differences open up new conversations," said Moriarty. "There's so much to share, and we could talk about culture for a long time."

Moriarty's immersion into Chinese culture has been transformative. Once unfamiliar with the country, he can now undertake interviews in fluent Putonghua. "I feel comfortable speaking this way, and I want to showcase my Putonghua."

He also enjoys embracing diverse traditional Chinese cultural practices, from writing Spring Festival couplets to celebrating Spring Festival with friends. "Chinese New Year has such a significant meaning in this culture. It's a time of pride and joy for every Chinese person, and I'm lucky to experience it as a foreigner."

Both artists have ambitious plans for the future. Chin is gearing up to release his second album and can't wait to reunite with fans on his next tour. Moriarty, too, is excited to continue his journey in China, "creating more unforgettable memories in this land of opportunity."

"I'll keep being myself," said Moriarty. "And I hope you will too."

At around 1,500 meters beneath the waters on the northwest continental slope of the South China Sea, lie the remains of two merchant ships, sunk over 500 years ago. They once bore witness to the bustling trade along the ancient Maritime Silk Road.

On Wednesday, Guan Qiang, a deputy director of the National Cultural Heritage Administration (NCHA), said at a press conference that significant breakthroughs have been made in deep-sea archaeology as over 180,000 precious cultural relics have been retrieved from the No.1 shipwreck. 

The underwater archaeological investigative project of the two shipwrecks, started in May 2023, has found artifacts including ceramics, bronzeware, copper coins, and bamboo and wooden items. To date, more than 900 pieces have been retrieved. 

On Friday, a total of 408 artifacts recovered from the two shipwrecks, which represent some of the finest discoveries of the cultural relics, will make their first public appearance at the China (Hainan) Museum of the South China Sea.

"We hope that through this exhibition, more people will be able to learn about the important discoveries in underwater archaeology in the South China Sea, experience the historical charm of the ancient Maritime Silk Road through precious artifacts, underwater imagery, and archaeological stories, and carry forward the spirit of the Silk Road," Xin Lixue, director of the museum, told the Global Times.

First showcase

The exhibit, occupying nearly 1,000 square meters of space, will showcase 442 items, 408 of which are from the two shipwrecks, and 34 are on loan from other institutions, such as the Palace Museum. The exhibition will offer audiences a comprehensive display of archaeological discoveries, excavation processes and technological applications.

Among the most anticipated pieces is a collection of 13 Fahua ceramics, which will be shown for the first time.

Fahua is a rare type of Chinese porcelain. Originating in the Yuan Dynasty (1279-1368) and flourishing in the Ming Dynasty (1368-1644), Fahua porcelain items were used as court furnishings after the middle period of the Ming Dynasty.

It is the first time that Fahua porcelain has been found in a shipwreck. These archaeological discoveries provide physical evidence of the export of Jingdezhen Fahua porcelain during the mid-Ming Dynasty, offering valuable material for locating kiln sites and clarifying their origins.

Other notable artifacts include a red-and-green glazed bowl, which confirms that the sunken ship dates back to the Zhengde period of the Ming Dynasty and reflects the contributions of trade routes in the South China Sea during the era.

In addition to these treasures, the exhibition will offer an immersive experience, utilizing VR technology and interactive installations, allowing visitors to simulate diving to the depths of the South China Sea, exploring the shipwrecks, and witnessing the underwater excavation process through the reconstruction scenes. 

The exhibit's format is set to evolve over time. As more items will be excavated and research progresses, the museum plans to update the artifacts on display and share new findings with the public, according to Yang Wu, an official from Hainan's Department of Tourism, Radio, Television, and Sports.

To complement the exhibition, a series of cultural and educational activities have been organized to enhance the experience. These include lectures, a digital "Fly Over the South China Sea" theater, and educational events centered on deep-sea archaeology. The museum has also developed a special line of cultural merchandise, drawing inspirations from the underwater archaeological work.

Archaeological milestone

Through joint excavation efforts involving research institutes and the China (Hainan) Museum of the South China Sea over the past two years, a total of 890 relics were excavated from the first shipwreck, including porcelain and pottery pieces, as well as copper coins. From the second shipwreck, 38 ancient artifacts were retrieved, including lumber, porcelain and pottery products, turban shells, and deer antlers.

The first shipwreck was laden with export ceramics, while the second shipwreck carried imported timber, both reflecting the prosperity of maritime trade during the mid-Ming Dynasty, Song Jianzhong, head of the archaeological project and researcher at the NCHA, told the Global Times in an interview.

Notably, the Fahua porcelain from the first shipwreck and the ebony from the second shipwreck are first-time discoveries in shipwreck archaeology. 

"It is an important piece of evidence about the maritime trade along the ancient Maritime Silk Road, offering valuable materials for the study of China's maritime history, oceanic trade, and cultural exchanges between China and other countries," said Song.

The underwater archaeological work on the shipwrecks in the South China Sea marks a significant milestone, as it signifies China's underwater archaeology advancing from coastal to deep-sea exploration, Guan told media in June.

In underwater archaeology, work within 50 meters is considered regular, while depths beyond 50 meters rely on manned or unmanned submersibles and are classified as deep-sea archaeology. 

The two shipwrecks on the northwestern slope of the South China Sea, located at around 1,500 meters, fall under the category of deep-sea archaeology.

The excavation was made possible through China's advanced deep-sea technology and archaeological survey equipment. For example, experts utilized 3D laser scanners and blowing devices to conduct the excavation.

"This deep-sea archaeological investigation, integrating China's deep-sea science and technology and underwater archaeology, marks the country's achievement of a world-class level in deep-sea archaeology," said Guan.

The highly anticipated film A Tapestry of A Legendary Land is set to grace the big screen on Tuesday, the beginning of China'sweek-long National Day holiday, marking a unique fusion of dance and cinematic art. 

Adapted from the hit eponymous dance poem drama, the movie takes the audience on a visual and emotional journey through the eyes of a modern exhibitor, who narrates the story of how Xi Meng, a painter of the Northern Song Dynasty (960-1127), created the masterpiece A Panorama of Rivers and Mountains.

The inspiration for the dance poem drama, and now the film, originates from one of China's most renowned paintings, A Panorama of Rivers and Mountains, a treasure housed in the Palace Museum in Beijing. The painting, rarely displayed to the public due its fragile nature, was last exhibited in 2017, an event that sparked the creative drive of director Zhou Liya. 

"We saw this famous painting quietly lying there in the Palace Museum, and it inspired us to use another form of art to let more audiences see it and truly bring it to life," she told the Global Times.

Adapting the dance drama into a film comes from the same creative impulse. The other director Han Zhen told the Global Times that the film is an "exploration of the cinematic adaptation of dance art  to show a different dimension of A Panorama of Rivers and Mountain under the lens."

Due to the absence of any dialogue or spoken lines, the adaptation of the dance drama for the big screen presented some challenges. The creative team debated whether to add dialogue to the film, "but in the end, we all made concessions to the dance," Han said. 

"This is a niche art film, but it carries a public sentiment. We believe that the inherent beauty of the story and its sincere emotions spanning thousands of years can still connect with and touch the audience," Han said.

The talented painter Xi Meng poured his heart and soul into capturing the essence of mountains and rivers, creating the legendary A Panorama of Rivers and Mountains at the age of 18, after which he vanished without a trace, leaving little historical record. The film A Tapestry of A Legendary Land brings Xi Meng's short life to the forefront, creating a vivid and passionate young image on screen.

To get closer to the genius painter, Chinese dancer and actor Zhang Han who played the role of Xi Meng told the Global Times that he had copied the painting to feel the state of mind of Xi Meng with each brushstroke. This experience left a deep impression on him. He said that when he played the part of Xi Meng, he could "devote everything to this work" just like the painter.

The role of "Green" is a symbolic figure in the film, representing the mountains and rivers of the painting, showcasing the grandeur and ancient charm of A Panorama of Rivers and Mountains, and connecting past and present. 

Meng Qingyang who played the role of "Green" told the Global Times that "Green" is not only a connector between Xi Meng and the exhibitor, but also a bridge between the audience and traditional culture. 

"'Green' is she who has seen the profound rivers and mountains on behalf of Xi Meng; and when she looks at the audience, she is also telling them that this is a gift from the ancients to the descendants," she said.

Since its premiere in Beijing in 2021, the dance poem drama has been performed nearly 600 times, and has also earned acclaim worldwide after being performed overseas, making it a well-deserved phenomenon in Chinese dance.
Currently, the discussions for overseas film festival distribution are ongoing, according to Han.

"Chinese culture is fully confident in stepping onto the international stage just as it is… I believe that this film could successfully stride onto the world stage when it goes international," she said.

The Global Times has learned that the commerce ministers of China and the US will hold talks soon. They will exchange in-depth views on China-US economic and trade relations, and key issues regarding the economic and trade to both sides, including restrictions on electric vehicles (EVs), a topic of widespread concern.

The talks are a mechanism-based dialogue and communication between the two countries' commerce departments. The communication will help promote the stable development of China-US economic and trade relations and create favorable conditions for mutually beneficial cooperation. 

Recently, China has engaged in intensive discussions with the US and the European Union (EU) on trade issues, including EVs.

Chinese Commerce Minister Wang Wentao visited Italy, Germany, Belgium and the EU headquarters, and held in-depth and friendly talks with the heads of the counterpart departments, especially with European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis on the EU's anti-subsidy case against China's EVs. The two sides reached a preliminary consensus on the negotiation direction for a proper resolution of the case. 

Currently, technical teams from both China and the EU are engaged in intensive consultations.

US electric vehicle maker Tesla announced on Saturday that it has shipped its 1 millionth made-in-China vehicle from its Shanghai plant. Experts say the milestone reflects China's strong and complete industrial supply chains. 

A batch of Tesla Model 3 vehicles was shipped from Shanghai's Nangang Port to Britain on Saturday, marking the milestone of 1 million China-made Tesla vehicles have been exported in less than four years, the Global Times learned from the company.

"Today, the one-millionth exported China-made Tesla car sets sail from Shanghai's Nangang Port. In just four years since the first batch of vehicles was exported, Tesla cars made in China have been sold in Europe, Asia-Pacific, Australia, and New Zealand, earning high recognition in overseas markets," Tao Lin, Tesla's vice president, wrote on Weibo.

The speed of Tesla's production shows the high quality and efficiency of China's manufacturing capabilities to produce products that are in high demand internationally. 

Tesla said that its Shanghai Gigafactory is a key global export hub and production base, playing a vital role in China's manufacturing sector. An entire new vehicle rolls off the assembly line at around every 30 seconds.

On January 7, 2019, Tesla's Shanghai Gigafactory broke ground in the Lingang New Area, and on December 30 that same year, the first batch of vehicles was delivered. From groundbreaking to delivery, Tesla's Shanghai Gigafactory took less than one year, Xinhua News Agency reported at that time.

Tesla's Shanghai Megapack energy storage plant in the Lingang New Area is also progressing rapidly. 

By the end of September 2024, the construction of the main factory building has been completed by over 60 percent, with plans in place to officially commence production in the first quarter of 2025, Tesla told the Global Times on Saturday in a statement. 

The gigafactory plans to produce 10,000 Megapacks annually, with a total storage capacity of nearly 40 GWh. The new factory aims to supply the global market and further establish Chinese intelligent manufacturing as a prominent brand on the international stage, Tesla said.

Editor's Note:

China and Portugal enjoy an ever-deepening comprehensive strategic partnership. As this year marks the 45th anniversary of diplomatic relations between the two countries, Portugal was among a group of countries that set up an independent booth for the first time at the 2024 China International Fair for Trade in Services (CIFTIS) in Beijing, seeking opportunities to deepen bilateral trade in services. The Global Times (GT) reporter Chu Daye recently conducted an exclusive interview with Portuguese Ambassador to China Paulo Jorge Nascimento (Nascimento), during which the envoy shared his views on the win-win nature of bilateral economic and trade cooperation. The ambassador also noted the potential of the two countries to develop the green economy, energy transition and jointly address climate change.

GT ：China-Portugal economic and trade ties have maintained a stable growth momentum. What opportunities does the enhanced China-Portugal economic and trade cooperation bring to Portuguese companies?

Nascimento: Over the past 12 to 15 years, China has been an important investor in Portugal, initially through M&A and recently with greenfield and brownfield investments from many Chinese companies in Portugal. In this respect, I think this has proven to be a very good experience for both Chinese and Portuguese companies involved, and therefore for both Portugal and China.

This positive experience is now the basis also for new investments. In 2023, nearly 70 percent of announced foreign direct investment in Portugal came from Chinese companies, which is highly significant. We believe that in the future there will be opportunities to increase that level of investment. It is in fact one of the main objectives for our participation at CIFTIS show this year - to show up the case of Portugal as a destination for Chinese investment.

We hope the good results achieved with Chinese companies in Portugal will endure and serve as a reference for new companies looking to invest in Portugal.

Also, we look forward to increasing our trade in services alongside our trade in goods. There is still an important difference between both trade in goods and trade in services. We believe that there is huge room to increase the bilateral trade in services.

GT: China and Portugal are partners of the Belt and Road Initiative (BRI). What are some of the latest achievements in BRI cooperation? 

Nascimento: Portugal has been one of the first European countries, particularly among EU countries, to adhere to the BRI. Since then, we have been following closely the developments of the BRI. Furthermore, we believe that Portugal, due to its geographic location, may act as a good partner and enabler within the BRI, namely in trade with South America and Africa. That's the framework upon which we position ourselves in the BRI.

GT: What opportunities exist between Portugal and China in green development?

Nascimento: We believe that the expertise and market-oriented frameworks of both Portugal and China regarding the greening of our economies constitute major opportunities and a path to explore on implementation of joint projects, investments and scientific and technological advances. Those are fundamental to carry on the path of the new economy and the shared efforts to fight climate change. Green development is clearly a framework for cooperation that we must explore together to tackle the common threat of climate change.

Portugal and China can complement each other. While China has scale and huge green-energy needs compared to Portugal, Portugal has been proving to be one of the leading green transition countries in Europe. In fact, over the past several years, we have been perfecting this sector by leveraging new technological developments and expertise.

Last year, 61 percent of all energy used in Portugal came from renewable sources. Wind energy and hydropower plants alone were responsible for 25 percent and 23 percent, respectively. This allowed Portugal to close its last coal power plant at the end of 2021.

We sincerely believe that green development can be a win-win cooperation for both Chinese and Portuguese companies, as it is the case in other sectors where Chinese and Portuguese companies are closely working together.