The dance drama Only Me, Qingbai, which uses porcelain as its narrative thread and focuses on the iconic figures of celadon porcelain craftsmen during the Song (960-1279) and Yuan (1279-1368) dynasties, made its grand debut at the Beijing Poly Theatre in Beijing on Friday.
Inspired by the archaeological discovery of the Nanhai One shipwreck, the drama tells the story of an elderly porcelain craftsman from the late Northern Song Dynasty (960-1127) who dreams of his youth when he traveled south to China's porcelain capital Jingdezhen in East China's Jiangxi Province to learn the craft. The production reflects the personal story of an ordinary man amid the historical turning points in Jingdezhen's history, while also vividly recounting the changes in the porcelain industry and the evolution of its firing techniques.
At the premiere, the audience gathered to check out the themed merchandise inspired by the elements of the show as well as Qingbai porcelain from Jingdezhen.
Expected to bring a feast presented by global artists, the 23rd China Shanghai International Arts Festival (CSIAF) is scheduled to be held between October 18 and November 17 this year. This annual one-month festival in Shanghai serves as a vibrant platform for artistic exchanges and showcasing outstanding Chinese literary and artistic works.
The festival will present more than 700 art-themed events this year, including 168 main performances, CSIAF Center President Li Ming said.
“The world’s top artists and troupes will gather [in Shanghai], with nearly 5,000 artists from 36 countries and regions participating in this grand event,” Li said at a press conference on Monday.
Approximately 60 percent of the performances will be presented by international artists this year.
The opening and closing ceremony performances are respectively the highly anticipated dance drama Azure After the Rain and symphony concert Tugan Sokhiev, Haochen Zhang and Münchner Philharmoniker.
Azure After the Rain by the Shanghai Dance Theatre highlights the spiritual world and patriotic sentiments of the renowned ancient Chinese female poet Li Qingzhao (1084-1155). Through the combination of music, dance and stage art, this dance drama creates a concise, implicit and profound aesthetic atmosphere of China’s Song Dynasty (960-1279), showcasing the outstanding charm of traditional Chinese culture.
“In the process of creation, we looked for many traditional cultural and aesthetic elements, trying hard to enable the audience to experience the exquisite and elegant life of ancient Chinese literati,” famous dancer Wang Jiajun told the Global Times after the press conference.
Wang will act as Li’s husband Zhao Mingcheng in Azure After the Rain. He shared that there are some details in the dance drama that contain beautiful Chinese intangible cultural heritage and folk customs. “But it’s not entirely traditional; we do it from a modern perspective,” said Wang.
Including Azure After the Rain, numerous performances with Chinese cultural themes will be presented at the 23rd CSIAF, showing the cultural confidence of Chinese people and conveying the romantic spirit of Chinese culture from various perspectives, such as the drama Beneath the Red Banner.
Beneath the Red Banner by Beijing People’s Art Theatre is adapted from a semi-autobiographical novel by Chinese novelist and dramatist Shu Qingchun, known by his penname Lao She. This drama tells the story of the great changes that took place during the late Qing Dynasty (1644-1911), showing the spirit of the Chinese nation in that era through stories of an individual and his family.
“I felt flattered when they told me that I would play Lao She in the drama,” recalled Pu Cunxin, one the most celebrated actors in China.
“For this drama, I hope to get closer to Lao She’s inner world and bring the audience’s heart to his side. And [I hope that we can] tell some history of the Chinese nation to our future generations in an artistic way,” he told the Global Times.
The press conference for the 2024 Qiandeng Lake Youth Theater Festival was held on Friday in the Nanhai district of Foshan, Guangdong Province. The theater festival aims to create a locally distinctive theatrical event that caters to the Gen Z audience.
Professor Hu Yu, director of the Tsinghua University Institute for Cultural and Creative Development and Chief Advisor of the Qiandeng Lake Youth Theater Festival, emphasized that young people are the most vital force in theater. The festival focuses on youth performances and expression at its core.
Liu Xiayuan, director of the Nanhai District Bureau of Culture, Radio, Television, Tourism, and Sports, expressed his hope during his speech that the young artists and audiences attending the festival will "enjoy the theater festival, enjoy a theater vacation and embrace their brilliant and youthful lives."
Over 14 days, the festival will present more than 60 performances, 30 theater activities, three artistic installations, two themed fairs, two exhibitions, and feature collaborations with over 100 performers and artists.
India is poised to celebrate its inaugural National Space Day on Friday, commemorating the one-year anniversary of the Chandrayaan-3 mission, which achieved the historic feat of landing a robotic probe on the lunar south pole—a first for humanity.
While India may have entered the space race later than some, the nation has rapidly strengthened its capabilities in space exploration, closing the gap with established space powers. On this significant day, New Delhi has much to celebrate, from past accomplishments to an ambitious future agenda that includes plans for manned spaceflight—a milestone achieved by only a select few countries worldwide.
According to the local media, the first Indian national space day is themed "Touching Lives while Touching the Moon: India's Space Saga," and the Indian Space Research Organisation (ISRO) has organized events, exhibitions and educational activities across the country aiming to showcase the country's growing capabilities in space science and technology, and after all, inspire and engage younger generations in the field.
The Chandrayaan-3 spacecraft managed the first ever soft landing near the south pole of the moon in 2023, marking a triumph for the ISRO, according to the London-based New Scientist magazine.
Over the past few decades, India has made remarkable strides in space exploration, including advancements in satellites, launch vehicles, and space missions. The country's space program is distinguished by its application-oriented approach, focusing on the development of application satellites and satellite technologies. Building on this foundation, India has established a comprehensive space organization and system, Pang Zhihao, a senior space expert, told the Global Times on Thursday.
The development of India's space program unfolds in three key phases: first, by leveraging foreign financial and technological resources to build a foundational national space system; second, focusing on the advancement of communication and remote sensing satellites, along with launch vehicles; and third, by innovating new space vehicles and broadening the scope of space applications, according to the expert.
This approach has proven to be effective, showcasing advantages such as diversity, speed, quality, and cost-efficiency, Pang said.
However, India's space activities seem to be limited by its economic input and technological resources, he said.
Besides honoring the remarkable feat of Chandrayaan-3 spacecraft robotic lunar mission, India also revealed its ambitious manned spaceflight missions ahead of the celebration of national space day, with ISRO senior official announcing that the first test flight of its human space mission "Gaganyaan" is expected to take place in December this year, the NDTV reported.
According to the ISRO chairman S Somanath, all the systems for the Gaganyaan rocket code named G1 will reach Satish Dhawan Space Centre in November this year and the target for the rocket flight is December, the report said.
The ISRO chief also revealed to the Indian media that lunar missions will be ISRO's focus for the next few years. "Chandrayaan-3 was successfully completed, and we are now working on Chandrayaan-4 and Chandrayaan-5. The designs for these have been completed, and we are seeking approval from the government," he said.
By April next year, an Indian astronaut is expected to fly to the ISS as part of a collaborative mission between NASA and ISRO. Indian Science and Technology Minister Jitendra Singh shared this news during a press conference, Business Today reported on Thursday.
New Delhi also aims to send first crewed space mission by mid-2025, the Print reported on August 20, citing the space agency's head Somanath.
India aspires to become the fourth country, after Russia, the US, and China, to independently complete a crewed space mission, and such ambition underscores the significant achievements of India's space industry. As such, India's space program remains a noteworthy area of interest and study, Chinese space observers said.
Over the past few decades, India has made remarkable strides in space exploration, including advancements in satellites, launch vehicles, and space missions. The country's space program is distinguished by its application-oriented approach, focusing on the development of application satellites and satellite technologies.
Experts suggested that to become a major space power, India should consider addressing challenges such as enhancing its rocket payload capacity, increasing investment in space programs, and reducing reliance on foreign technology and resources.
In the first round of Group C matches at the 2024 UEFA European Championship on Monday, Denmark drew 1-1 with Slovenia. The most touching part of the game for fans was when Christian Eriksen, three years on from suffering a cardiac arrest in the last European Championship, scored a crucial goal for Denmark.
Eriksen's triumph over death was a fairytale moment for Denmark that deeply moved countless fans.
For Chinese Manchester United fans, Eriksen's return was particularly joyful. He not only scored a goal but was also named man of the match, showcasing his strength and value.
One netizen, @Jiu Zhuangshi, commented on Weibo: "Death did not take him, and illness did not stop him. He embodies the indomitable spirit of humanity, proving with his actions that he never gives up."
On the same day, Nicolae Stanciu, who previously played for Wuhan Three Towns Football Club in the Chinese Super League, scored a stunning goal to help Romania beat Ukraine 3-0. Faced with numerous reporters, Stanciu prioritized questions from Chinese journalists.
"I want to say thank you to the Chinese fans. I am very grateful for their support of the Romanian national team. I have many wonderful memories from China. We won the league championship and the Super Cup, and Wuhan and its people are great. I wish Wuhan Three Towns Football Club all the best for the future," Stanciu said.
The official Weibo account of Wuhan Three Towns Football Club responded, "Go, Nico! Take our gifts and blessings, and continue to shine at the European Championship!"
A fan named @ZhouZhou commented on his social media: "The best foreign player in Wuhan, the man who kicks free kicks like they're penalties!"
On Tuesday, in the first round of Group D matches, tournament favorites France secured a 1-0 victory over Austria. However, star player Kylian Mbappe was injured near the end of the match, suffering a nasal fracture and having to leave the game.
Mbappe will miss the next match against the Netherlands, and it's currently unclear how long he will be out. In coach Didier Deschamps' tactical system, Mbappe remains an indispensable element.
After the match, Mbappe jokingly asked on social media if anyone had recommendations for a mask.
While some Chinese fans expressed concern about this unexpected situation affecting the French team, more were joking about it.
"Try the green fish mask from the Ugly Stuff competition. It could have the added benefit of distracting opponents on the field!" one Chinese netizen quipped.
The US persists in a mistaken perception of China, often viewing China through the lens of its own hegemonic logic. China is not the US and does not aspire to become the US, Chinese Foreign Minister Wang Yi said in a meeting with US Secretary of State Antony Blinken in Laos on Saturday.
"China does not seek hegemony or power politics and has the best record among major powers on peace and security issues," Wang said. He warned that the risks facing China-US relations are still accumulating, and challenges are on the rise.
"The bilateral relationship is at a critical juncture where it needs to be stabilized and improved, requiring continuous adjustment of direction, risk management, proper handling of differences, elimination of interference and promotion of cooperation," he said.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, met with Blinken in Vientiane at the latter's request. The two sides exchanged views on China-US relations and agreed to maintain communication at all levels and further implement the important consensus reached during the heads of state meeting in San Francisco.
During the meeting, he emphasized the importance for the US to understand the CPC and China's present and future as well as the CPC's aspiration to seek happiness for the people and rejuvenation for the nation while adhering to the path of peaceful development.
Over the past three months, the two sides have maintained communication through diplomatic, financial, law enforcement, and climate change teams, as well as military channels, and people-to-people exchanges have also been increasing, Wang said. However, it must be pointed out that the US has not ceased its containment and suppression of China and has even intensified these actions in some cases.
Wang said that China's policy toward the US remains consistent, adhering to mutual respect, peaceful coexistence, and win-win cooperation. He urged the US to return to a rational and pragmatic policy toward China. "Both sides should work together to promote stable, healthy, and sustainable development of China-US relations," he said.
Blinken said that the US is actively committed to stabilizing US-China relations and adheres to the one-China policy. The US looks forward to maintaining regular communication with China and continuing cooperation on issues such as drug control and artificial intelligence. The US is willing to manage differences, avoid misunderstandings and misjudgments.
Li Haidong, a professor at the China Foreign Affairs University, told the Global Times on Saturday that Wang's remarks "once again demonstrate to the US that China is responsibly managing China-US relations and hopes to develop them in a direction of cooperation and mutual benefit. The statements are highly responsible, forward-looking, and constructive."
Regarding the Taiwan question, Wang stated that Taiwan is part of China and will never be a country, neither in the past nor in the future. "Taiwan independence" and peace in the Taiwan Straits are incompatible. Every provocation by "Taiwan independence" forces will be met with countermeasures, he warned.
Wang elaborated on the rights and wrongs relating to the Ren'ai Jiao issue, pointing out that China has reached a temporary arrangement with the Philippines to manage the situation. The Philippines should keep its word and stop transporting construction materials, and the US should stop fanning the flames, disrupting, and undermining maritime stability, he said.
Li told the Global Times that the main risk in current China-US relations lies in the US' inability to tolerate China's rise in comprehensive strength and international influence.
"This does not conform to the US' tradition of maintaining its own advantage and certainly not to its hegemonic mindset and tradition. Another critical issue is the US' strong tendency to blame China for its internal problems, viewed as 'curing internal issues with external measures,'" he said.
"Additionally, the US attributes its declining global influence to China. This is extremely dangerous and deserves condemnation. Therefore, in Wang's exchange with Blinken, he frankly pointed out these issues. This candor could help the US reflect and possibly make adjustments. If the US fails to reflect and continues the wrong path, it won't solve its problems, and maintaining international order and security will also be problematic," Li said.
Wang pointed out that China's position on the Ukraine issue is open and honest, adding that China will continue to promote peace talks. The US should stop the excessive use of unilateral sanctions and long-arm jurisdiction.
"China opposes smearing and framing, does not accept coercion or blackmail, and will take resolute and forceful measures to safeguard its major interests and legitimate rights," Wang said.
Li noted that the US not only fails to reflect on, but also flaunts its power and insists on a zero-sum mindset of winning and losing in the war in the Ukraine issue.
"The US should have the courage to take responsibility and not shift the blame for its responsibilities and failures in the Ukraine crisis onto China."
The China Securities Regulatory Commission (CSRC), the country's top securities regulator, vowed on Monday to effectively maintain the smooth operation of the capital market, strengthen comprehensive research and response to market risks, and improve the targeted effectiveness of trading regulation.
The CSRC on Monday held a conference to study and implement the spirit of the third plenary session of the 20th Central Committee of the Communist Party of China, deploying work to further comprehensively deepen reform of the capital market as well as the key work in the second half of the year.
The CSRC said it will ramp up greater efforts to serve the rebound of the real economy, deepen the registration-based IPO system and cultivate high-quality listed companies. It will also make efforts to prevent and resolve risks in key areas such as private equity funds, trading venues, bond defaults and industry organizations, in addition to enhancing the effectiveness of supervision and law enforcement.
The meeting noted that at present, China's capital market has reached the stage of accelerating the transformation to high-quality development. Further deepening overall reform is needed to remove the institutional barriers and resolve structural issues, as well as accelerating the construction of a safe, standardized, transparent, open, dynamic and resilient capital market.
The commission will establish a long-term mechanism to enhance the internal stability of the capital market, and better serve high-level sci-tech self-reliance and the development of new quality productive forces, including enhancing the ability to provide full-chain services to sci-tech innovation enterprises.
It also vows to effectively protect the legitimate rights and interests of investors and deepen the self-revolution of the CSRC system.
According to a communique adopted by the third plenary session, the country will pursue coordinated reforms in the fiscal, tax, financial and other major sectors, and work to enhance the consistency of macro policy orientation.
In addition, it will improve the national strategic planning system and policy coordination mechanisms, deepen reform of the fiscal and taxation systems, further reform the financial system, and improve mechanisms for implementing the coordinated regional development strategy, read the communique.
With NATO's continuous expansion, it is evolving from a regional security alliance into a global organization. The alliance, which celebrated its 75th anniversary with a summit in Washington recently, has played a major role in exacerbating the Russia-Ukraine crisis. As the crisis has been in its third year, how to see the trajectory of the conflict? How likely is the possibility of a nuclear war in today's world? Global Times (GT) reporter Ma Ruiqian recently interviewed Scott Ritter (Ritter), a former US Marine Corps intelligence officer, over these pressing issues.
GT: How do you see the trajectory of the Russia-Ukraine conflict this year? How much more support can the West provide to Ukraine?
Ritter: This is a very difficult war. It's a war that didn't need to be fought and shouldn't have been fought. Russia did not want to invade Ukraine. It's the last thing Russia wanted to do, but they were compelled to take this action because of the irresponsible behavior of the US and NATO, and the European Union. Russia's initial plan was based on putting pressure on Ukraine to accept a rapid peace settlement, but that peace was rejected by the West.
Russia today is better prepared to not only continue this war but is also positioned to win this war more than Ukraine or NATO. Can this be turned around? Unlikely. The amount of investment that would have to be made into Ukraine exceeds the capabilities of NATO and the US. The reinvigoration of military industry is beyond the capacity of Europe at this point in time because of the economic consequences of this conflict and the sanction of Russia, and now that has backfired for Europe and the US.
So far, Russia has prevailed militarily. Now we come to the political endgame. This is where China has to pay attention, too, because how this war ends will likewise impact the West's posture toward Taiwan region. Ukraine is a tool. Taiwan is also a tool of the West. If this tool emerges still usable, still viable, that's a defeat for Russia. Then the West will say we can use Taiwan region as a tool against China. China is participating in discussions about peace, but the peace between Russia and Ukraine, in large part, will determine the future potential for conflict between China and the US over Taiwan region. How this war ends in Ukraine is very important for dictating the future of war or peace in the Pacific.
GT: NATO is reportedly in talks to deploy more nuclear weapons. How likely is the possibility of a nuclear war in today's world?
Ritter: We are closer to nuclear war today than we have been at any time. The US is not an honest partner. The US continues to view nuclear weapons as an expression of American supremacy, believing that we must be the supreme nuclear power. China has, historically speaking, had a very pragmatic and responsible approach to nuclear weapons. China has never used the nuclear bomb, but it has developed nuclear capabilities to provide a deterrent against the American nuclear system. However, the US has positioned itself to have the potential for a preemptive attack that could neutralize China's nuclear deterrent. This takes us away from deterrence theory and into war-fighting theory. This is a very dangerous place to be. When you look at the irresponsible expression of American nuclear policy, which now extends to NATO, it talks about putting a certain number of nuclear weapons on operational standby so they can be used quickly. When we talk about fighting a war with the assumption that nuclear weapons are going to be used, it means that if there is a war, there's a high probability nuclear weapons will become part of it. And that is a disaster for humanity.
If I'm a Chinese diplomat, and perhaps the diplomat shares my opinion about the danger we face, what can be done? How do we begin to approach a nation that is very aggressive and incapable of negotiating in good faith? The US has to change. We have to change our approach to nuclear weapons and how we deal with the world. But we're an empire in decline. When an empire is in decline, it tends to fall back on its strongest position. Right now, the US is very strong in nuclear weapons, so we're falling back on the nuclear shield, which makes everything going forward even more dangerous. If the nuclear option becomes our only option, there is a real potential for nuclear war.
GT: Ahead of the NATO summit, China hosted the Conference Marking the 70th Anniversary of the Five Principles of Peaceful Coexistence. The Shanghai Cooperation Organization (SCO) summit, which China is a major participant, was held in Kazakhstan. How do you compare China's and the US' contributions and concepts regarding world peace?
Ritter: When you compare the Chinese approach with the NATO approach, you see that China is doing a very good job, behaving very responsibly, and looking for alternatives to conflict. Why is the SCO succeeding? Why do so many people want to join BRICS? Because these are viable alternatives for the rest of the world. China is a very responsible global leader, sitting down with the world and trying to articulate a common position on the peaceful resolution of global problems. China wants good relations with the West.
NATO, on the other hand, only talks about war and confrontation. NATO is a tool of the US. And the US is seeking to use NATO to bolster its weakened position in the Pacific and to get NATO expanded into the Pacific. This is one of the things that was discussed at the NATO summit.
Also, it's the US that is being irresponsible in terms of responding to China's activities in the South China Sea. It's the US that is building military alliances to contain China militarily. China is economically defeating the US that the Chinese model of global development is more efficient than its American counterpart. Since we can't compete with China economically, we seek to move to where we feel we have the advantage, which is military confrontation.
GT: From the Ukraine crisis to the Gaza crisis, how have the so-called universal values of the West been influenced?
Ritter: I think Gaza is exposing the ugliness of the US. The tragedy is that the US has lost all credibility when it comes to the very things that should define us, the universal human values. When you take a look at Gaza, it's such a contradiction of what we claim to stand for and what we do. It's so gross that it allows people to legitimately say that the US is a fraud. When that is exposed as a lie, our existence becomes meaningless. This would be a dark thing for the US and for the world. I'm afraid that Gaza is showing that the US dream of human rights and liberty is a fantasy and that the US has stopped working to make it a reality.
GT: Julian Assange gained "freedom" after pleading guilty last month. Reflecting on your experience of having your passport confiscated by the US State Department on your way to Russia, what are your thoughts on the so-called human rights and freedom in the US?
Ritter: It's a dark day for the US, when you find out that there is no free speech, that there is no freedom of association, that it's all a lie — that the government controls you instead of you controlling the government. Julian Assange was arrested for exercising free speech as part of a free press. He committed no crime. In doing so, the US sent the signal to every American: if you challenge us, we will break you, we will arrest you, we will destroy you. They've sent that message to me many times, and they tried to send it again by taking my passport. But I'm going to get my passport back, and I will continue to travel. I will continue to speak to defend the free speech, free press and freedom of association in the US.
There is full confidence that China will be able to achieve its full-year GDP growth target of around 5 percent in 2024, as the resolution on further deepening reform comprehensively to advance Chinese modernization adopted at the just concluded third plenary session of the 20th Communist Party of China Central Committee has injected fresh growth momentum to the economy, an expert said on Thursday.
China's economic growth rate is expected to reach around 5 percent in the second half of the year, and as a result, the economy is expected to achieve its pre-set annual target. This year, China's contribution to the world economy may still remain at a high level, casting itself as a key driver of the global economic recovery, Li Xuesong, director of the Chinese Academy of Social Sciences' Institute of Quantitative and Technological Economics, told the Global Times.
From now to 2035, the foundation supporting the high-quality development of China's economy remains solid, Li said at a seminar held in Beijing on Thursday, noting that China's economy is expected to maintain a significant growth potential over the period.
"The new technological revolution offers strategic opportunities for high-quality development. A robust industrial foundation provides continuous momentum. A vast market generates demand traction and the comprehensive guarantee of production factors offers solid support," he said.
Debunking some Western media outlets' smearing of China's economic prospects citing so-called disappearance of the demographic dividend, Li said the country's advantages in the quality and quantity of the labor force persist.
The working-age population remains sizable, contributing talent and labor to economic growth. In addition, continued improvements in the health and education level of labor force facilitate the rapid accumulation of demographic quality dividends. Third, new urbanization drives ongoing improvements in the distribution of labor in various regions, offering substantial potential for enhancing the efficiency of labor resource allocation, he said.
After China reported a steady 5 percent GDP growth for the first half of 2024, multiple international organizations and banks have maintained their forecast of 5 percent GDP growth for China this year, thanks to remarkable performances in areas such as exports, even as many major economies and the global economy as a whole face serious downward pressure.
Looking ahead, Li said China should foster the high-quality development by seeking major upgrades in three aspects. "We should leverage the advantages of the hyperscale market to drive demand expansion, enhance quality, and facilitate structural upgrading. In addition, we should accelerate the iterative process of supply and promote structural upgrading, while driving sustained efficiency enhancement and structural advancement," he said.
He called for efforts to boost the synergistic growth of traditional and emerging industries, and foster the development of new quality productive forces.
Li noted that the Chinese government has accorded paramount importance to the stable and healthy development of the real estate market, with a series of policy adjustments.
In addition to current policies, we can explore the establishment of specialized asset management agencies to take over and restructure certain real estate enterprises in the future, Li said.
China is a key driver of world economic growth. According to the IMF's research, every 1 percentage point increase in China's economic growth will lead to a 0.3 percentage point increase in the growth of other economies. As the world's second-largest economy, China has added important stability to the world economy, Li said.
Key investment projects are set to improve the quality of China-Russia trade and provide further impetus for bilateral trade to reach $300 billion by 2030, Chinese experts said on Tuesday, as cooperation meetings were held in Russia this week.
Russian and Chinese authorities agreed to update the list of significant projects during a meeting of the Sino-Russian intergovernmental commission on investment cooperation, Russian news agency TASS reported on Tuesday, citing First Deputy Prime Minister of Russia Denis Manturov.
Chinese Vice Premier Ding Xuexiang is in Russia from Sunday to Tuesday, co-chairing the meeting as well as the 21st meeting of the China-Russia Energy Cooperation Committee and attending the sixth China-Russia Energy Business Forum.
"I consider our meeting to be rather timely and fruitful. Reaching agreements on updating the list of significant projects is very important. There are more than 60 initiatives with the total amount of declared investment exceeding $138 billion," Manturov said.
"We also saw trade rise so far this year, and it has the potential to rise to $300 billion by 2030, according to our estimates," Manturov said.
Ding said that the two sides have strengthened the top-level design of investment cooperation, steadily promoted cooperation on key projects, created new highlights in sub-national cooperation, and achieved new positive results, according to the Xinhua News Agency.
The potential of investment cooperation should be tapped, and sub-national cooperation should be better carried out, Ding said, adding that the two sides should strengthen policy support and actively create a favorable investment environment.
Observers said that frequent and continuous high-level official exchanges and intensified cooperation among localities in recent weeks showed that concrete steps were being taken in line with the strategic guidance of the two heads of state. These meetings and exchanges will further boost bilateral trade and economic cooperation, especially investment.
Song Kui, president of the Contemporary China-Russia Regional Economy Research Institute, told the Global Times on Tuesday that trade between China and Russia is in a state of vital transition, as industrial cooperation featuring key projects will vastly improve the quality of bilateral trade and the trade structure.
"This is a major change. Key project cooperation will become a symbol of higher-level bilateral cooperation," Song said.
Bilateral trade grew fast in recent years, hitting a record of $240.11 billion last year, up 26.3 percent year-on-year, customs data showed. However, trade growth slowed in the first half of this year as the US tightened its unilateral sanctions on Russia. In the first six months, bilateral trade reached $116.87 billion, up 1.8 percent year-on-year.
Bilateral cooperation on key projects will greatly enhance the cross-border flow of productive factors, improve the quality of trade toward high-level development and become a new engine to drive trade higher, Song said, noting that more processed Russian goods with higher added value will be traded in addition to the current range of basic resources and materials.
Even as bilateral trade growth was affected by the intensified US financial crackdown during the first half, there's still a good chance of meaningful growth for the full year as more work is being done to improve the financial infrastructure to counter the impact of US sanctions, with possible breakthroughs in the second half, Song noted.
More than 90 percent of mutual payments in bilateral trade are now conducted in national currencies, TASS reported, citing Manturov.
China and Russia are actively advancing bilateral cooperation despite external disruptions, with the two sides zooming in on expanding trade and improving its quality, Zhang Hong, an associate research fellow at the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences, told the Global Times.
