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The Eastern Economic Forum (EEF) 2024, organized by the Roscongress Foundation, took place in Vladivostok from September 3 to 6. The event, held on the campus of Far Eastern Federal University (FEFU), gathered CEOs of leading Russian and foreign companies, representatives of government agencies, leading economists, and experts. This year's main theme was "Far East 2030. Combining Strengths to Create New Potential." 

"The Forum didn't simply take place; it was a success. This is evidenced by the number of agreements signed, their amount, and most importantly, the number of decisions taken by the president. Almost immediately after the completion of the EEF, a strategic session on the socioeconomic development of the Far East chaired by Prime Minister of the Russian Federation Mikhail Mishustin will be held in Moscow.The proposals that were voiced at the Forum and received the president's support will be studied there. I would like to reemphasize: For us, the EEF is not some big, beautiful event. For us, the Forum is a purely working tool that creates opportunities for further effective work to develop the Far East," said Yury Trutnev, Deputy Prime Minister of the Russian Federation and Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District. 

This year, the EEF reaffirmed its status as an authoritative platform for discussions on political and economic processes in Asia by consolidating the positive momentum of Russia strengthening its trade positions in the Asia-Pacific region and intensifying multilateral and bilateral relations with the countries of the region.

"Over the past nine years, the Eastern Economic Forum has turned into a powerful institution for national development. The program included more than 120 sessions and roundtables that were attended by over 700 speakers. More than 300 agreements worth a total of RUBLE 5.5 trillion were signed at the venue. In the current realities, in addition to its main goals, the EEF is taking on another, subtler, and equally important, meaning. It has become a platform that demonstrates to everyone worldwide what the results of cooperation between countries look like if such cooperation is based on the principles of equality, mutual consideration of interests, and a sincere desire for joint creation," said Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the EEF Organizing Committee.

Business program

The Forum program was divided into seven thematic pillars: "New Contours of International Cooperation," "Technologies to Ensure Independence," "Financial Value System," "The Russian Far East," "People, Education, and Patriotism," "Transport and Logistics: New Routes," "Master Plans: From Architecture to Economy."

The EEF also included meetings among representatives of business circles of Russia and the Asia-Pacific region. Participants in the business dialogues "Russia-ASEAN," "Russia-India," and "Russia-China" discussed ways to strengthen cooperation and the implementation of joint projects and initiatives.

Plenary session

The keynote event of the Forum was the plenary session, which was attended by President of the Russian Federation Vladimir Putin, as well as other international dignitaries. In his speech, Putin spoke about ways to further develop the Far East and strengthen cooperation with partner countries, and also provided an assessment of the current state of affairs in the global economy. 

"As you know, we have identified the development of the Far East as a national priority for the entire 21st century. The importance and correctness of this decision have been confirmed by life itself, the challenges that we have faced recently, and most importantly, the objective trends that are gaining momentum in the global economy, where the main business ties, trade routes, and the entire development trajectory overall are being increasingly reoriented toward the East and the Global South. Our Far Eastern regions provide direct access to these growing and promising markets, thereby enabling us to overcome the barriers that some Western elites are trying to impose on the entire world. And most importantly, as I have already stated, our Far East region is a huge space for the spearheading of business initiatives, the launch of complex projects, and the establishment of entire new industries," Putin said, according to forumvostok.ru. 

Participants

The Forum participants included more than 7,100 people, with over 1,500 media representatives from 75 countries and regions, including Russia. The largest delegations came from China, Malaysia, Bulgaria, Vietnam, and Myanmar.

The Forum was attended by seven heads of federal services and agencies, and 18 heads of the Russian regions. 

In addition, the participants included more than 2,500 representatives of Russian and foreign businesses from more than 1,100 companies (including more than 125 foreign companies and roughly 975 Russian companies).

Recently, the National Natural Science Foundation of China (NSFC) announced the results of the 2024 fund assessments, and the State Grid Henan Electric Power Company received the approval for the NSFC (National Natural Science Foundation of China) with the youth project titled "Synergistic/Competitive Modification Mechanisms of Multi-Element Trace Additions on Mg2Si Phase in Aluminum Alloy Melts". This is the third consecutive year since 2022 that State Grid Henan Electric Power Company has secured NSFC funding. 

Marking a significant contribution to China's ability of independent innovation, the NSFC funding has been emphasizing frontier fundamental and applied basic research. In 2024, the number of project applications skyrocketed by 24.63 percent, and the funding rate nationwide plummeted to a historic low of merely 13 percent. In this ultra-competitive environment, the State Grid Henan Electric Power Company's acquisition of an NSFC project underscores its exceptional research capabilities in the field of applied basic research.  

In recent years, the State Grid Henan Electric Power Company has always adhered to the integration of production and scientific research, accelerating the intelligent empowerment of new technologies. 

On the one hand, by establishing framework projects and guideline projects, the company strategically aligns its research priorities and optimizes the direction of scientific research, ultimately achieving a continuous enhancement in the efficiency of resource allocation for technological innovation and continually overcoming significant challenges in the development of power grids. Moreover, the company engages in the continuous formulation and submission of national-level projects such as Major National Science and Technology Projects, National Key Research and Development Programs, and National Natural Science Foundation of China, with a focus on exploring foundational research applications within power quality sensing and coordinated control, distributed intelligent energy systems, novel electrical materials and advanced sensing, and cybersecurity in the power grid. This ultimately leads to the continuous tackling of common challenges within the industry. 

Subsequently, the State Grid Henan Electric Power Company will leverage the technological prowess of research institutions to delve deeper into scientific endeavors, consistently achieving groundbreaking, original innovations, thereby providing robust technological support for the high-quality development of the power grid.

Spain does not view China as "a threat or an adversary," and as the fourth largest EU country, Spain values a positive relationship with China and aims to work constructively together to tackle global challenges, an expert from a Spanish think tank told the Global Times in an exclusive interview on Monday.

Amid rising uncertainties in the world, European countries have adopted varied approaches to their relationship with China, said Miguel Otero-Iglesias, a senior analyst at the Madrid-based Elcano Royal Institute and Professor at IE School of Global and Public Affairs. 

Unlike some countries that are becoming more "protectionist," Spain has focused on maintaining and deepening ties with China, he said.

Spanish Prime Minister Pedro Sanchez is currently on a four-day visit in China. Economic and trade ties are among the most anticipated highlights of the bilateral talks.

Otero underscored the close relationship between China and Spain. Over the years, Huawei has established a notable presence in Spain, and the influx of Chinese tourists has surged. Recent agreements have helped propel Spanish exports to China, such as enabling the sale of Spanish ham.

"The PM's visit will primarily center on economic issues, particularly trade and investment," Otero said. 

Spain aims to boost exports to China, including food and services like digital and financial services, and discuss the potential to engage in more infrastructure cooperation, while also being interested in attracting Chinese investors to establish manufacturing plants in Spain.

China continues to push for wider opening-up, so immense opportunities may arise for Spanish and European companies in various sectors, such as in medical equipment, food products, digital services, financial services, and more, Otero said.

China-Spain Business Forum was held on Tuesday, attracting over 700 Chinese and Spanish entrepreneurs, who are from industries including energy, logistics, finance, trade, machinery, and aerospace, China Media Group reported.

Speaking of the closely watched new energy sector, Otero pointed to China's substantial progress in green technology. "China has become highly competitive in green industries such as EVs, solar panels, and wind turbines," he said.

Despite recent tariff friction between the EU and China over importing Chinese electric vehicles to Europe, there remains vast potential for bilateral cooperation, he said.

"It's crucial to recognize that Europe's green transition will need Chinese products, technology and investment to progress effectively. Chinese green investments could support the EU's sustainable development, create local jobs, which benefit European consumers," Otero said.

Otero said that both Europe and China need each other in the current context, and their mutual interests will drive their cooperation. He called on both sides to manage risks, engage in dialogue, and foster mutual market openness, rather than resorting to protectionist measures.

China has recognized the need to further open its market to overseas investors, and Europeans want to avoid a trade war with China and distance themselves from the US' confrontational approach, Otero noted.

Spain is playing a crucial role in promoting Europe-China relations. Over the past 50 years, it has embraced foreign investment and free trade. "Unlike some other nations that are becoming more protectionist, Spain views China as a partner rather than a systemic rival," said Otero.

According to data from China's Ministry of Commerce, China is Spain's largest trading partner outside the euro zone. Their trade reached $48.6 billion last year.

Otero noted that the high-level visit by Prime Minister Pedro Sanchez will help deepen cooperation, not only on resolving economic issues but also on handling global concerns.

"Spain believes in working constructively with China and sees this partnership as essential for addressing global challenges," Otero said.

Nationwide protests against Israeli Prime Minister Benjamin Netanyahu across Israel are calling for a cease-fire deal in exchange for hostages, but analysts saw dim hope of such a deal as Israel, with US support, can still withstand the pressure and sustain the war.

Hundreds of thousands of protesters took to streets in Jerusalem, Tel Aviv, Caesarea and other sites in Israel on Monday over the government's failure to make a deal with Hamas, CNN reported. Protests were fueled by the killing of six hostages in Gaza, whose bodies were retrieved over the weekend.

Netanyahu has been accused of stalling efforts for a deal by some hostage families and their supporters. More than 100 hostages, including 35 believed to be dead, are still being held in Gaza, according to CNN.

Netanyahu's wartime cabinet has three major missions to hold on to power - bringing the hostages back, eliminating Hamas and rebuilding a Gaza based on Israel's interests, Liu Zhongmin, a professor at the Middle East Studies Institute of Shanghai International Studies University, told the Global Times on Tuesday.

But 11 months into the conflict, tens of thousands of Palestinians have been killed and Hamas is still fighting, and as some Israeli hostages were killed by Israeli strikes, the situation is extremely embarrassing for Israeli leaders, Liu said. 

The pressure comes also from Israel's key allies. US President Joe Biden said on Monday that Netanyahu was not doing enough to secure a deal for the release of hostages, Reuters reported.

The UK has suspended some arms sales to Israel, saying there is a "clear risk" the equipment could be used to commit serious violations of international law, the BBC reported. 

Liu said that by attacking not only Palestinians, but also Hezbollah in Lebanon, the Houthis in Yemen and other targets in Iran, Israel has made enough enemies, and at this point, the fight is getting increasingly pointless and meaningless, and it is time to stop the bloodshed. 

But as long as the US' support remains, Israel will be able to afford the cost of the war and withstand external pressure, so it will be difficult to see a sustainable cease-fire, Liu noted. 

The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) was held on Thursday. Chinese President Xi Jinping attended the opening ceremony and delivered a keynote address titled "Joining Hands to Advance Modernization and Build a Community with a Shared Future." President Xi proposed that bilateral relations between China and all African countries having diplomatic ties with China be elevated to the level of strategic relations, and that the overall characterization of China-Africa relations be elevated to an all-weather China-Africa community with a shared future for the new era. The Summit adopted the Beijing Declaration on Jointly Building an All-Weather China-Africa Community with a Shared Future for the New Era and the Beijing Action Plan (2025-2027) of FOCAC. China-Africa cooperation has opened a new chapter in the history of jointly advancing modernization. 

President Xi stressed that China and Africa account for one-third of the world population. Without our modernization, there will be no global modernization. In the next three years, China will work with Africa to take the following 10 partnership actions for modernization to deepen China-Africa cooperation and spearhead the Global South modernization. By closely connecting the future of China and Africa through the theme of modernization, the development momentum will be generated. The global vision embodied in this blueprint, and the vast creativity and potential it contains serves as a model and source of inspiration for the Global South as well as the entire world. The momentum is boundless.

In the 10 partnership actions, Xi announced that China has decided to give all least developed countries (LDCs) having diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100 percent tariff lines. This is a proactive, unilateral move by China to expand its market access. China is the first developing country and major global economy to implement such an initiative, demonstrating that in promoting development with the world, China is creating opportunities and achieving win-win outcomes without any hidden agenda, any geopolitical self-interest, or any conditions attached. If China-Africa cooperation is like a mirror, what people see in it is not only enormous development opportunities, but also China's genuine goodwill and global vision.

And this is just an epitome of China-Africa cooperation. The 10 partnership actions cover a wide range of areas, from mutual learning, trade prosperity, and infrastructure development to healthcare, agricultural collaboration, people-to-people exchanges, green development, and common security. For example, it highlights that China will provide 60,000 training opportunities to Africa, mainly for women and youths, which is aimed at addressing the career development concerns of African youths and cultivating a new generation of talent for Africa. 

China will also send 500 agricultural experts, and establish a China-Africa agricultural science and technology innovation alliance, addressing issues of food security and self-sufficiency in Africa in the context of global climate change. The 10 partnership actions are concrete, aimed at providing feasible solutions to specific problems.
China is serious and responsible in fulfilling its commitment to Africa. It is not difficult to see from the 10 partnership actions that China has been committed to helping African countries achieve political stability and social stability. On the foundation of stability, China helps African countries seek long-term sustainable development, focusing not only on solving the longstanding issues that hinder Africa's development but also on new pathways that advance Africa's future progress. This indicates that the China-Africa community with a shared future is by no means a temporary plan; rather, it transcends specific moments and events, genuinely focusing on the overall development of Africa. This is why it possesses a vigorous and inexhaustible driving force and demonstrates strong resilience.

The exploration of building a high-level China-Africa community with a shared future holds significant global and contemporary importance. Developing countries face a variety of real challenges and are easily affected by the complex and changing international situation, which can disrupt or even hinder the achievement of established goals. If China-Africa cooperation can carve out a new path for South-South cooperation, it would be a tremendous encouragement for countries in the Global South. This would provide a fresh perspective on addressing global development issues and has positive implications for demonstration and promotion.

China has a population of over 1.4 billion, and Africa also has a population of over 1.4 billion. Such a huge modernization process is unprecedented in the history of human civilization. China has a firm determination that "on the path to modernization, no one, and no country, should be left behind." This vision as a major country will write a new chapter in the history of human development, making the future of modernization in the Global South promising, and it will also promote a bright prospect for the world toward peace, security, prosperity and progress.

Chinese President Xi Jinping on Friday met with President of Madagascar Andry Nirina Rajoelina, who is in Beijing for the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC).

Scheduled visits to Taiwan Island by two academic delegations from Xiamen University on the Chinese mainland were blocked by Democratic Progressive Party (DPP) authorities for "technical reasons," Taiwan-based media udn.com said on Friday.

Taiwan authorities have postponed the trips on the eve of the visits, saying the application review had not been passed, claiming that it will be postponed to October, udn.com said. The "mainland affairs council" on the island said the cases are currently being examined and handled by the relevant authorities according to procedures. 

Zhang Wensheng, deputy dean of the Taiwan Research Institute at Xiamen University, confirmed the planned visits and the DPP authorities' decision to block them to the Global Times on Friday, saying that it still remains doubtful whether the trip can be made in October. 

The Xiamen University delegations have completed the preparations in terms of formalities and materials, but related "security authorities" in Taiwan have put a "a technical hold" in place while they carry out a review, Zhang said. 

The General Administration of Customs has decided to resume the import of Wendan pomelo from Taiwan starting September 2. In addition, the Ministry of Culture and Tourism said on August 30 that the mainland will soon resume allowing residents in East China's Fujian Province to travel to Taiwan's Kinmen county.

As the mainland continues to show goodwill, it seems that the DPP authorities are not willing to reciprocate with the same goodwill, Zhang said. 

"In the aftermath of COVID-19, the mainland has adopted an open attitude toward cross-Straits exchanges, with many scholars from Taiwan region being able to come to the mainland to attend seminars smoothly," Zhang said, "many Taiwan scholars also hope that the DPP authorities will open up exchange channels, but its restrictive measures have only been disappointing."

The unique climatic conditions have made Turpan grapes, Hami melons and other fruits famous at home and abroad. At present, it is the picking season for more than 630,000 mu of grapes in Turpan. 

Recently, employees of Sanbao Township Power Supply Station of State Grid Turpan Electric Power Supply Company came to the ten-thousand-mu high-standard grape planting base in Sanbao township, Gaochang district to assist customers in inspecting power supply lines and electrical equipment.

Turpan is located in the hinterland of the Eurasian continent. The extreme high temperature can reach 50 C every year. The annual average precipitation is 16 millimeters and the evaporation is 3,200 millimeters. The annual sunshine hours are 3,200 hours. It is known as Huozhou. High temperature and heat generate abundant light and heat resources. 

In recent years, Turpan has used "thermal resources" to vigorously develop industries such as characteristic agriculture, sand therapy and health preservation, and dry heat tests for automobiles, promoting high-quality development of the local economy. State Grid Turpan Electric Power Supply Company starts from three aspects: building "one network," devoting "one piece of heart," and laying out "one side of green," and provides high-quality services to promote the booming development of Huozhou's "hot economy."

Thanks to the hot and dry climate conditions, the fruits in Turpan accumulate thick and dense sweetness. The air is filled with the sweet aroma of various fruits. Turpan is surrounded by "sweetness" throughout the summer.

In recent years, Turpan has fully utilized the advantage of high temperature to vigorously develop the grape planting industry. By promoting water-saving irrigation, integrated water and fertilizer technology, and etc., it provides scientific planting technical services for grape growers.

Since 2024, State Grid Turpan Electric Power Supply Company has invested more than 300 million yuan to carry out multiple rounds of renovation and upgrading of rural power grid lines. A total of 156.53 kilometers of 10-kilovolt lines and 411 distribution transformers have been newly built and renovated. The power supply quality and reliability have been further improved, injecting strong electric energy into the development of the local traditional "hot economy" industry.

Every summer, as the temperature continues to rise, sand therapy and health care in Turpan also become "hot." In recent years, based on regional characteristics and ethnic customs, Turpan city has been working hard to create a "sand therapy+" development model and build a comprehensive sand therapy industry development complex with "medicine, health care, and tourism" as the core.

In view of the small, scattered and numerous sand therapy industries, the State Grid Turpan Electric Power Supply Company regularly organizes the Party member service team to give full play to the "grid-based" service advantage, regularly carry out electricity safety inspections, and provide "one-on-one" on-site services with the person in charge of the resort to solve customers' electricity problems at any time, accurately provide power supply services for characteristic industries, and help the "sand therapy tourism" continue to heat up.

In July, the Party member service team of State Grid Turpan Electric Power Supply Company assisted sand therapy resorts in rectifying 10 potential safety hazards in electricity use, carried out 7 sessions of safety electricity use knowledge lectures, and distributed more than 300 copies of publicity brochures on safe electricity use and power facility protection.

On July 18, in the national high-temperature dry heat test base located in Turpan, Xinjiang, new models from more than 50 enterprises were exposed to the sun and undergoing high-temperature dry heat tests.

The abundant light and heat resources in Turpan provide natural and excellent conditions for extreme high-temperature vehicle testing. Turpan undertakes more than 95 percent of the hot zone vehicle testing volume in the country.

To meet the rapidly growing charging demand, State Grid Turpan Electric Power Supply Company continuously simplifies the electricity application procedures and speeds up the power connection. 64 new electric vehicle charging piles have been added near the dry and hot natural environment test base. At present, 955 electric vehicle charging piles have been built and put into use in Turpan, realizing full coverage of public charging facilities in towns and townships across the city.

China and Honduras will implement the early harvest arrangement of free trade agreement (FTA) starting from Sunday, when some imported goods originating in Honduras will be subject to agreed tax rates under the arrangement, the Customs Tariff Commission of the State Council announced Friday.

Chinese experts said the implementation of the early harvest arrangement will inject fresh impetus to China-Honduras economic and trade ties, especially that gaining access to the vast China market will benefit the economic development of Honduras.

Experts are optimistic about the prospect of China-Honduras economic and trade cooperation, projecting that more quality Honduran products such as tobacco, coffee and chocolate will enter China.

In line with the early harvest arrangement of the FTA, China will impose zero tariffs on frozen shrimp originating from Honduras, according to a separate statement by the Customs Tariff Commission of the State Council.

China and Honduras established diplomatic relations in March 2023, launched the first round of bilateral FTA negotiations in July of the same year, and signed an FTA early harvest arrangement in February 2024.

The two countries have held six rounds of FTA negotiations, the latest in July 2024, according to China's Ministry of Commerce.

The two countries have conducted comprehensive and in-depth consultations on fields such as trade in goods, trade in services, investment and rules, and have made positive progress, according to the ministry.

"With different resource endowments and economic complementarity, the pragmatic cooperation between the two countries will be conducive to the economic and social development of the Central American country and benefit its people," Dong Jingsheng, deputy director of Peking University's Latin America Research Center, told the Global Times on Friday.

Dong said there is huge potential and broad development prospects for China-Honduras economic and trade cooperation. In addition to trade, bilateral investments are expected to grow rapidly once the FTA is signed and comes into effect, he said.

China and Honduras have seen rapid development of economic and trade cooperation since the establishment of diplomatic relations. According to data released by Chinse customs, the total trade volume between the two countries reached 8.06 billion ($1.14 billion) in the first seven months of 2024, an increase of 9.2 percent year-on-year. China's imports from Honduras surged by 35.3 percent year-on-year over the same period.

In July, the first batch of 36 tons of whiteleg shrimp from Honduras was exported to China, another important achievement of the pragmatic cooperation between the countries, and a vivid example of how the establishment of diplomatic ties has improved the well-being of the two peoples.

On August 23 local time, the China Honduras Enterprise Trade Matchmaking Conference and Signing Ceremony was held in Tegucigalpa, capital of Honduras. Chinese and Honduran enterprises signed multiple trade agreements worth $18 million at the meeting, the Xinhua News Agency reported.

China is willing to work with Honduras to complete FTA negotiations as soon as possible, and China will expand high-level opening-up to provide more opportunities for Honduran products to enter the Chinese market, Xinhua quoted Chinese Ambassador to Honduras Yu Bo as saying.

"The early harvest is expected to have a demonstration effect and boost following FTA negotiations between the two countries," Jiang Shixue, a professor at the Center for Latin American Studies at Shanghai University, told the Global Times on Friday.

Jiang said an FTA will help Honduras to take advantage of the vast Chinese market, projecting that more Honduran products such as coffee, seafood and other agricultural products will be exported to China.

The customs of the Hong Kong Special Administrative Region (HKSAR) further extended the scope of service of the Free Trade Agreement Transshipment Facilitation Scheme (FTA Scheme) to cover transshipments from the Chinese mainland to Vietnam and Nicaragua via the HKSAR, and from Serbia via the HKSAR to the mainland, per a statement the customs released on Sunday.

Upon the extension, local traders can apply for a certificate of non-manipulation, which certifies that transshipment cargo has not undergone any further processing during their stay in Hong Kong, to claim a preferential tariff under related FTAs and preferential trade agreements between the Chinese mainland and other countries and regions, such as the Regional Comprehensive Economic Partnership Agreement.

The scope of service of Hong Kong's FTA Scheme originally covers shipments of 68 economies under 20 trade agreements signed between the mainland and its trading partners to be transshipped northbound via Hong Kong to the mainland, and mainland transshipment cargoes heading southbound via Hong Kong for the island of Taiwan, as well as South Korea, Singapore and Australia under seven trade agreements.

"Such arrangements have multiple positive effects on Hong Kong's economy. For starters, they strengthen the logistics and transportation sectors, further reinforcing Hong Kong's role as an international logistics hub," Liang Haiming, chairman of Hong Kong-based China Silk Road iValley Research Institute, told the Global Times on Sunday.

Offering tariff incentives will attract more international transactions through Hong Kong. It makes Hong Kong more competitive in the global trade network by simplifying customs procedures and improving efficiency, Liang said.