A suspect involved in a major financial criminal case of organizing and leading a pyramid scheme with funds of over 100 billion yuan ($14 billion) has been successfully extradited from Thailand, marking the first financial criminal suspect extradited to China from Thailand since the two countries' extradition treaty took effect in 1999.
With the collaboration of relevant departments, the Chinese Embassy in Thailand and the law enforcement departments in Thailand, China's economic fugitive repatriation campaign Fox Hunt's work group under China's Ministry of Public Security (MPS) successfully extradited the suspect surnamed Zhang from Thailand back to China on August 20.
Zhang was discovered to have led a pyramid scam operation under the guise of issuing virtual currency since 2012, as participants were required to pay fees ranging from 700 yuan to 245,000 yuan to obtain membership on the platform, according to the People's Daily report.
The scheme lured participants by offering high returns on their investments. The rebate system was based on the number of new members each participant could recruit and the amount of money invested by these new recruits. More than 10 million investors have fallen prey to the scheme, and the money involved amounted to over 100 billion yuan.
The public security organ of Chongqing Municipality launched an investigation into Zhang in 2020, and an Interpol Red Notice was issued in March 2021, according to the Xinhua News Agency.
Zhang was captured by Thai police in 2022, and was ordered to be extradited to China following a sentence made by Thailand's Appeals Court in May 2024, a decision later supported by the Thai government, according to Xinhua.
An official from the office of the Fox Hunt campaign said that the successful extradition of Zhang shows the Chinese government's firm determination and will to uphold Chinese people's rights and defend the dignity of the law.
The extradition is a major achievement in China-Thailand law enforcement and judicial cooperation, marking a milestone in consolidating and deepening cooperation between the two countries and serving as a positive example for future extradition cooperation between China and other countries, the official said.
Branko Ivankovic, China's national soccer team head coach, has emphasized the importance of offense in the team's upcoming World Cup qualifier against Thailand, as China will host the visitors on Thursday in Shenyang, the capital of Northeast China's Liaoning Province.
"I heard that the tickets for this match sold out quickly. We expect 50,000 to 60,000 fans to cheer us on at the stadium," Ivankovic said. "We are eager to win this match with a great performance, as our goal is to defeat the Thai team."
The Shenyang Olympic Sports Centre Stadium has a capacity of 60,000. Tickets sold out on May 30.
At the beginning of the current round of qualifiers, the national team defeated Thailand 2-1 in an away match in November, thanks to goals from striker Wu Lei and midfielder Wang Shangyuan.
However, following a series of underachieving performances in the group, securing a victory against Thailand at home is essential for China to secure second place in the group. This would guarantee automatic qualification to the third-round Asian qualifiers, comprising 18 teams.
"Our opponent is also a strong team with its own strengths. Both teams need a win to compete for a spot in the 18-team final round of the qualifiers and to vie for a ticket to the 2026 FIFA World Cup," he said.
"We are fully committed to our preparation and hope to achieve our goals in every aspect."
Even a draw against Thailand would complicate their chances, making the subsequent match against South Korea critical for China.
"With a draw, no one can guarantee what will happen in the final group game [next week]. So, I believe Thailand is an ambitious team with courage, and they won't play too conservatively. They will strive to play well, and we are fully prepared for this. Our goal is clear."
The Chinese national team is playing without its star player Wu Lei, as the domestic top scorer faces suspension for actions during the Thailand game. Three Brazil-born naturalized strikers A Lan (formerly known as Alan), Ai Kesen (Elkeson) and Fei Nanduo (Fernandinho) have been included in the 30-man squad.
"To win a football match, we need to score more goals than our opponent. We've called up six forwards this time. We will make the best use of our available resources," Ivankovic said. "We must stick to our playing style, and I trust our players to meet our tactical demands."
The Croatian also hinted that some young players might see their chances to make an appearance for the national team.
"I came to China just a few days before the match against Singapore [in March], and there weren't many changes to the squad then," he said.
"Since then, we've seen many players perform exceptionally well in the league. They deserve to be in the training camp, and we believe these capable players will also have the opportunity to play in the match."
Captain and keeper Wang Dalei, 35, told reporters that this could be his last chance to strive for a World Cup spot, and he hopes to lead the team to victory in this match. He dedicated the match to fans before noting the young players have experienced intense competition in the domestic Chinese Super League (CSL).
"I believe they [the young players] will adapt during these days. On the defense line, they have been defending against foreign players in the CSL," Wang said.
"These foreign players in the CSL are very strong as we know. Since the young players perform so well in their respective teams, I believe they will do just as well if they play."
Shenyang is known as a lucky place for Chinese soccer, as it witnessed the team's only qualification for the World Cup in 2002.
After the Thailand game, the team will fly to Seoul to prepare for an away match against South Korea.
China's golf team, including two men and two women with a mix of veterans and newcomers, will compete for medals in the golf competitions of the 2024 Paris Olympics that will start on August 1.
In the women’s category, China will be represented by athletes Yin Ruoning and Lin Xiyu. This marks Yin's debut in the Olympics, having emerged as a stand-out player despite her young age.
Born in 2002, Yin has rapidly ascended the world rankings, currently sitting at No. 4 as of July 15. Her breakout year in 2023 saw her winning her first major title at the KPMG Women's PGA Championship in June, finishing third at the Kroger Queen City Championship in September, successfully climbing to the top of the women's golf world rankings and becoming the second female golfer from the Chinese mainland to reach world No.1.
Yin expressed her hope to win a medal for China and is to enjoy her first Olympic experience. To achieve this, she has been actively recovering from a former injury recently to ensure peak physical condition for the Games.
In contrast with Yin's debut, Lin will make her third Olympic appearance. As a veteran of the sport, Lin has achieved many impressive results from a young age, having won five professional championships by the age of 18 and topping the 2014 China LPGA Tour money list, becoming the youngest money maker in the history of the tour. She also made history at the Rio Olympics by scoring the first hole-in-one in the women's golf competition in Olympic history. Acknowledging that this will be her final Olympics, Lin is determined to deliver a commendable performance.
Notably, this combination of a "promising rookie" and a "veteran" creates high hopes for winning a medal.
In the men's competition, China will be represented by Yuan Yechun and Dou Zecheng. Yuan, participating in his second Olympics, has bolstered his world ranking to No.155 after a good year of strong performances in tournaments such as the Sony Open in Hawaii. Dou’s qualification journey has been arduous, culminating in earning sufficient points through active tournament participation over recent month.
Among other competing teams, the US team is particularly strong with both world No.1 Scottie Scheffler and defending Olympic champion Xander Schauffele competing. Scheffler has won the Masters twice in three years, and the gap between him and other players in the world rankings is the largest since renowned golf player Tiger Woods peak.
Compared to the Rio and Tokyo Olympics, the golf competitions at the Paris Olympics has garnered greater interest. In the past two Olympics, some players opted to participate in other important tournaments or were affected by the virus and did not attend. The Paris Olympics, however, have swept away this "gloom", with only a few qualified athletes opting out.
After a 112-year hiatus, golf returned to the Olympic family at the Rio Olympics in 2016. In Paris, the golf competitions will award gold medals in both men's and women's individual events, with 60 players competing in each category. It will take place at the National Golf Club of France, featuring four rounds of 18-hole stroke play.
Amid accelerating global changes unseen in a century, countries will either progress together through connectivity and unity, or retreat separately through closure and division. China and Italy should uphold and promote the Silk Road spirit, view and develop bilateral relations from a historical dimension, strategic height and long-term perspective, and push their relations to go steady and far, Chinese President Xi Jinping said when meeting with Italian Prime Minister Giorgia Meloni in Beijing on Monday.
Xi said the healthy and stable development of China-Italy relations is in line with the common interests of both countries and their peoples.
Meloni's first visit to China since assuming office is poised to restart the relationship between the two nations, with experts anticipating a return to regular dialogues at various levels. This visit signifies a shift in Italy's approach to China, moving away from ideology-driven policies toward a more pragmatic and economically focused strategy after Italy's withdrawal from the Belt and Road Initiative (BRI), said experts.
The strengthened ties between China and Italy, the third-largest economy in the European Union, are expected to serve as a model for other European and Western countries, highlighting the advantages of mutually beneficial cooperation with China in a time of global uncertainty and waning US leadership.
Noting that China and Italy are at the two ends of the ancient Silk Road, Xi said the time-honored friendly exchanges between the two countries have made significant contributions to the overall exchanges and mutual learning between Eastern and Western civilizations, and to the progress of humanity.
The Silk Road spirit of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit is a shared treasure of China and Italy, Xi said.
The Chinese President said China is willing to work with Italy to promote the optimization and upgrading of traditional cooperation in economic and trade investment, industrial manufacturing, technological innovation, and third-party markets, and explore cooperation in emerging areas such as electric vehicles and artificial intelligence.
China welcomes Italian companies to invest in China, and is willing to import more high-quality Italian products. China hopes that Italy will also provide a fair, transparent, safe, and non-discriminatory business environment for Chinese companies investing in the country, said Xi.
Xi emphasized that in an era of economic globalization, only by adhering to open cooperation in the global industrial chain and supply chain can win-win development be achieved. China adheres to the path of peaceful development and never pursues hegemony, and is willing to share development opportunities with all countries.
Meloni said that the current international situation is undergoing profound changes, and China, as an important major country, plays an irreplaceable role in addressing global challenges.
Italy adheres to the one-China policy, and hopes to strengthen dialogue and cooperation with China, tap more potential, deepen cooperation in areas such as trade and investment, electric vehicles, artificial intelligence, and enhance people-to-people exchanges to promote more Italian products entering the Chinese market.
Italy opposes "decoupling" and protectionism, and is willing to play an active role in deepening EU-China relations, said the Italian leader.
Restart ties
Italy and China signed a three-year action plan on Sunday to implement past agreements and experiment with new forms of cooperation, Meloni said on an official visit to China, according to Associated Press.
Meloni told business leaders that the two sides had signed an industrial collaboration memorandum that includes electric vehicles and renewable energy, which she described as "sectors where China has already been operating on the technological frontier for some time ... and is sharing the new frontiers of knowledge with partners."
Chinese experts said that the action plan is more like a "compensatory" deal for Italy following Rome's withdrawal from BRI last year.
"The action plan serves to minimize the negative impact on Italy after it pulled out of BRI; signing the plan also signals Italy has vast demand for cooperation with China, as it used a alternative plan to focus on areas where there is demand from both countries," Cui Hongjian, a professor with the Academy of Regional and Global Governance with Beijing Foreign Studies University, told the Global Times.
The action plan, however, doubled down on both countries' collaboration on electric vehicles (EV) despite Italy supporting the European Commission (EC)'s decision to impose provisional tariffs on electric vehicles imported from China.
Stellantis, a major automaker that includes Italy's Fiat, announced in May that it had formed a joint venture with Leapmotor, a Chinese electric car startup, to begin selling EVs in Europe, media reported.
Zhao Yongsheng, a research fellow at the Institute of Regional and International Studies at the University of International Business and Economics in Beijing, pointed out that the action plan provides an opportunity for both countries to enhance cooperation in the EV industry, as Italy requires China's technology and China has a need for its capital and technology to be exported. Southern Europe has proven to be a good location for such investments.
Chinese experts believe that both Italy's withdrawal from BRI and supporting EC's tariffs on Chinese EVs are partly due to pressure from the US and other Western countries.
After experiencing the detrimental impact of strained China-Italy relations following Rome's withdrawal from BRI, and the failure of the US to deliver significant benefits, Italy has pivoted from an ideology-driven policy approach to a more pragmatic stance. This shift is expected to provide a much-needed boost to Italy's economic development, according to Zhao.
The Italian leader said her five-day trip was a "demonstration of the will to begin a new phase, to relaunch our bilateral cooperation". The action plan aims to experiment with new forms of cooperation, per Reuters.
After Meloni's visit, dialogue and cooperation between different levels from China and Italy will return to normalcy, and this will also be part of the "relaunch" of ties, said Cui, noting that the frequent exchanges will help enhance understanding and disperse disputes, leading bilateral relations, and China-EU relations to a healthier direction.
Demonstration effect
When meeting with Meloni, Xi said China hopes that Italy will understand and support China's development philosophy, and play a constructive role in promoting dialogue and cooperation between China and Europe and promoting the positive and stable development of China-Europe relations.
"Italy can have an important role in EU relations and creating balanced relations," Meloni said Monday. "We need a rules-based order" as a way "to guarantee stability, peace, trade that remains free," she said, Bloomberg reported.
Meloni's visit will have a demonstration effect among European countries, as the trend of "decoupling with China" becomes more prevalent on the continent. Substantial cooperation between China and Italy will demonstrate the benefits of collaborating with Beijing, leading Europe to realize the advantages of such partnerships. This collaboration will help to bring stability amid rising uncertainty surrounding the upcoming US presidential election, according to Zhao.
As Europe is grappling with a myriad of external and internal challenges, certain countries are turning to practical cooperation with China in order to safeguard their own interests. This shift has prompted nations like Italy to consider more pragmatic adjustments in response to the mounting pressure they face, Sun Keqin, a research fellow at the China Institutes of Contemporary International Relations, told the Global Times.
China attaches great importance to its relationship with Europe. Italy is a major country in the EU, and Meloni's party achieved a major victory in the European elections, thus strengthening the relationship between China and Italy is of great significance for enhancing economic cooperation between two countries and promoting China-Europe relations, said Sun.
As the 2024 Paris Olympic Games unfolds, the sports gala has become a source of heightened people-to-people exchanges as Chinese tourists descend on the "City of Light" in massive numbers that will create new opportunities for both countries.
"My whole family landed in Paris on Friday, and I was struck by the Chinese-themed advertisements in the city. They were visible not only on taxis and buses but also in metro stations and other places, showcasing a blend of Chinese and French corporate culture," a tourist surnamed Zhang told the Global Times on Sunday.
Zhang, a financial worker in London together with a diverse team of international colleagues, said that deeper cultural integration is of great help to doing businesses.
"I saw many Chinese men and women visiting Paris' museums, with a notable number being young people," another sightseer in Paris who would only give his first name as Thomas told the Global Times on Sunday. The streets around La Vallée Village, a main shopping area, were vibrant with throngs of Chinese visitors, Thomas added.
Vibrant cultural exchange
Even as the hosting of the Paris Olympics has significantly raised the costs of traveling in the city, many Chinese are still drawn to Paris, with new consumption patterns observed by local tourist organizations.
A manager from Mandarin Voyages, a Paris-based Chinese-owned travel agency, told the Global Times that, from January 2023 to July 2024, there had been an increasing number of tourists from the Chinese mainland that engage in a wide variety of cultural exchange activities in Paris.
This year marks the 60th anniversary of China-France diplomatic relations and the China-France Year of Culture and Tourism.
"In addition to sightseeing and shopping, we currently receive many Chinese groups visiting Paris, including academic study tours, business trips and cultural exchanges," the manager said.
And, Chinese tourists have noted that during their stay in Paris, they have found that the Olympic Games is creating new opportunities for expanding China-France trade.
"For out Chinese tourists, we have a penchant for purchasing souvenirs from major festivals and events," Zhang Zheyu, a Chinese tourist flying in from Germany, told the Global Times.
Chinese online travel platforms are now reporting a surge in travel bookings to Paris and other European destinations, with online travel agency Qunar.com revealing a 240-percent increase in international flight bookings to Paris and a 100-percent rise in bookings for Paris-based hotels, from July 27 to August 31.
China Eastern Airlines, a major operator of air links between China and France, has witnessed a 3.94-percent month-on-month increase in the number of passenger turnover during July 1 to 18, according to a statement the airline sent to the Global Times on Sunday.
A boost in trade
Besides the participation to the Paris Olympics by a host of Chinese corporate sponsors such as global cloud services provider Alibaba Cloud, Chinese dairy firm Mengniu, as well as equipment supplier such as Shandong-based TaiShan Sports, the sales of other manufactured goods have also seen a boost as Made-in-China takes center stage at the gala event.
The 2024 Paris Olympics have brought massive orders to Chinese manufacturers, with some 80 percent of the "Phryge" mascot dolls being made by Chinese companies, the CGTN reported on Thursday, citing the Paris Organizing Committee.
As the Paris Olympic Games officially kicks off, a growing number of Chinese goods are being exported to France at an accelerated speed.
Helped by the Olympics, the exports of Chinese tea to France surged 31.77 percent in the first six months year-on-year to reach 1,867.76 tons, according to an article posted on the WeChat account of the China Association for the Promotion of International Agricultural Cooperation on Thursday.
Since June, air freight cargo volume from Guangzhou, South China's Guangdong Province to Paris has increased by 65 percent year-on-year, according to the China Southern Airlines.
The French market has seen a strong demand for cross-border e-commerce goods from China, including mobile phone accessories and fast fashion apparel, which are favored by local consumers.
Two-way investment
In addition to these emerging trends, observers said as the Chinese and French economies enjoy a high degree of complementarity, a wide range of sectors are expected to benefit from the enhanced people-to-people exchanges between the two nations.
"The Olympic Games has a powerful sway in China. A good number of Chinese people have visited France in person and millions more will watch it on TV and become more familiar with French culture and French products, paving way for broader economic and trade cooperation between the two countries," Zhang Yi, CEO of iiMedia Research Institute, told the Global Times on Sunday.
Zhang said the two countries can explore more opportunities emerging in cross-border e-commerce, digital cooperation, and services sector such as entertainment, banking and medical care.
In addition to China's steadily rising investment in France, French companies have also been expanding their footprint in China.
French sports brand Decathlon has recently revealed plans to add 20 to 30 new shops a year in China in the coming two years, eyeing a more niche, mid- to high-end market, according to a report by Beijing Business Today in mid-July.
An executive with France-based fermentation company Lesaffre told the Global Times that "the potential of the Chinese market is limitless and the Chinese economy remains the world's largest engine of development" last week during an event marking the 100-day countdown to the 7th edition of the China International Import Expo, one of the largest trade shows China hosts on an annual basis.
And, French banking group BNP Paribas recently established a wholly owned securities firm in Shanghai, becoming the fourth foreign financial institution to set up a wholly owned brokerage in the Chinese mainland, the Securities Daily reported last week.
Despite US' intensified restrictions to stymie the development of China's cutting-edge technologies, Chinese researchers remain committed to excelling in quantum computing with a long-term vision and strong determination, a leading Chinese scientist and a pioneer in China's quantum technology told the Global Times.
"I see an increasing convergence of 'Chinese strength' in the quantum computing industry in China, which fills me with confidence in the self-reliance and improvement of China's quantum computing technology," Guo Guangcan, director of the Key Laboratory of Quantum Information of the Chinese Academy of Sciences (CAS), who is also an academician at the CAS said, expressing his optimism in the future of China's quantum computing endeavors.
The remarks came as some Western institutions and media outlets reported that the US and China are in a pivotal race to achieve "quantum technology supremacy" and capabilities that will have national security and commercial ramifications. China's potential to eclipse the US in a quantum-technology arms race is an issue of acute concern to US national security, according to the Heritage Foundation, a US-based think tank.
In a recent exclusive interview, Guo shared his insights on US' technological "decoupling" push with China, and displayed an unwavering belief in the self-sufficiency of China's quantum computing technology.
Quantum computing has long been considered as a crucial measure of a country's technological advancement and has the capability to transform national security and drive economic development, the 82-year-old Chinese scientist said.
"Certain countries have imposed stringent barriers and restrictions on quantum computing technology, posing challenges for China's quantum computing industry," Guo noted. In order to maintain its competitive edge, the US is actively working to limit China's progress in areas such as semiconductor technology, artificial intelligence (AI), and quantum computing.
In recent years, the Biden administration has rolled out a raft of restrictive measures targeting China's quantum development. In its latest move, US Department of Commerce on May 9 announced stringent export controls to stymie Chinese quantum research, by adding 22 institutions and firms to its Entity List for "their participation in the China's quantum technology advancements," under the excuse of safeguarding its national security.
The move is part of an updated strategy by the US and its Western allies' suppression of major technology industries in China, because they have seen China's potential to eclipse the US in the quantum-technology arms race, Guo said. "The US is taking a leading role among Western countries in efforts to counter China's advancements in quantum technology, because it is afraid that China may surpass it."
According to Guo, the Western blockade on quantum computing against China has manifested in various forms, including imposing sanctions on China's quantum computing enterprises, blocking high-end quantum computing equipment exports, and limiting cross-border talent exchanges.
Despite these backlashes, China's quantum computing technology is breaking through international barriers and accelerating pace in achieving greater self-reliance and strength, as demonstrated by the progress and inventive spirit of companies like Origin Quantum Computing Technology Co.
Origin Quantum Computing Technology Co, a 7-year-old startup focusing on quantum computers and related technologies, has developed third-generation superconducting quantum computer Origin Wukong. Since it became operational in January, it had completed 250,000 quantum computing tasks for global users as of July 20. The number of times it was accessed remotely from more than 125 countries around the world exceeded 12 million, according to the information the company shared with the Global Times.
The delivery of that computer marked that China has established a basic independent industry chain for superconducting quantum computers, which is believed to be critical for future development.
"The US blockades will only push our nation to accelerate the quantum technologies," Guo believed, adding that the world watches with anticipation as China continues to push the boundaries of this cutting-edge technology.
New computing paradigm
Quantum Computing and Its Real-World Implications As traditional computing approaches reach their limits, there is a pressing need to explore a new computing paradigm capable of solving problems beyond the scope of conventional methods.
"Quantum computing represents this new paradigm," Guo said.
With the advent of AI and quantum computing, computational power will increase exponentially, ushering in a groundbreaking era," Guo explained, emphasizing that quantum computing will enable the resolution of previously insurmountable challenges.
"The distinction of computing power between quantum computers and electronic computers is equivalent to that between electronic computers and abacuses," Guo said, underscoring that quantum computers are designed not to replace electronic computers but to complement them, addressing technical hurdles and efficiency issues that were once viewed as insurmountable.
For example, generative AI needs the power of quantum computing to make fundamental advances, which means AI relies on the ability to crunch huge rafts of information, which is where quantum computers excel. Also, in the pharmaceutical sector, quantum computers can expedite drug development, ultimately benefiting public health.
Looking ahead, quantum technology demonstrates remarkable application potential across diverse fields. Quantum computing is poised to revolutionize large-scale computations in drug research and development, energy exploration, financial analysis, and weather forecasting. ming International Barriers with Homegrown Innovation "Collaboration between tech companies, academia, and research centers is key to driving the advancement of quantum computing technology. Through practical application, quantum computers will continue to tackle and solve complex problems, creating a virtuous cycle that fosters ongoing scientific and technological progress and industrial growth," Guo stated.
An emerging industry
The development of an independent and controllable industrial chain in quantum computing is crucial for China amid global challenges and fierce competition in science and technology, Guo said.
Quantum computing, as a frontier technology, is poised to be one of China's future industries, which will help nurture new productivity boosters and further drive economic growth. Guo highlighted the importance to foster collaboration between industry, academia, and research to advance quantum computing technology and create a quantum ecosystem for scientific progress and industrial upgrading.
China has reached a significant milestone in quantum computing as its first self-developed superconducting quantum computer came online on January 6, meanwhile, China's first independent superconducting quantum computer manufacturing chain was established on May 12 in Hefei, East China's Anhui Province. Guo said these breakthroughs represent a major leap toward establishing technological autonomy and positioning the country as a key player in the global quantum computing industry.
"I hope that the development of quantum technology will continue to advance through the efforts of self-reliant innovative research and development as well as Chinese tech industry. By transforming the achievements of relevant research into key technologies that drive social progress and economic development, quantum technology will become source of new quality productive forces," Guo said.
China has set developing industries of the future as one of its key missions as it ramps up efforts to explore frontier technologies as a major driving force for China's economic growth. The Ministry of Industry and Information Technology unveiled an action plan for the development of industries of the future which targets sectors including humanoid robots and quantum information, and focuses on breakthroughs in key technologies, cultivating products and expanding application scenarios.
US-based electric car (EV) maker Tesla's driving assistance system, Full Self-Driving (FSD), is likely to be approved by Chinese regulators and enter the China market within 2024, said Tesla CEO Elon Musk.
This move indicates China's openness to international enterprises in EV technology research and development, and achieving fair competition and mutual advancement amid mounting pressure from Western countries on China's EV industry, Chinese experts said.
Tesla will soon ask for the regulatory approval for Supervised FSD in China, said Musk during Tesla's earnings call for the second quarter of 2024. He also mentioned the autopilot program will be approved to enter Europe and other markets.
Tesla will reportedly bring its latest version 12 FSD program to China. Following the approval by the Ministry of Industry and Information Technology (MIIT), Tesla's employees can commence internal tests of FSD on public roads before opening the system to users in China, Reuters reported on May 30, citing people familiar with matter.
In June, the Lingang New Area in Shanghai began to promote trials of Tesla's FSD, involving 10 Tesla vehicles, the China Securities Journal reported on Wednesday, as analysts said that it may accelerate the entry of FSD in China.
Tesla now provides two less advanced driving assistance programs -Autopilot, which is free to use, and Enhanced Autopilot, which costs 32,000 yuan ($4,397.30) - in China, the company's official website showed.
The FSD will now be optional for installation when car buyers choose a configuration for their Tesla vehicle, and it will cost 64,000 yuan. However, it can't be used before the official introduction of FSD in China and the approval of relevant regulations.
Tesla's FSD is in a leading position in the global driving assistance sector, which can be widely used by Chinese consumers and enterprises, Zhang Xiang, secretary general of the International Intelligent Vehicle Engineering Association, told the Global Times on Wednesday.
Ten automakers including Mercedes, BMW, BYD and GAC's EV brand Aion have been granted Level 3 autonomous driving testing licenses, according to Chinese media outlet thepaper.cn.
Level 3 autonomous driving technology allows drivers to take their hands off the steering wheel and their eyes off the road, according to national standards, but carmakers should be responsible for any accidents.
On June 4, the MIIT and three other departments released a document allowing nine entities - vehicle production companies and actual user companies - to further refine nation's testing procedure for autonomous driving programs.
Aside from financial implications, the implementation of Tesla's FSD in China will accelerate its own technological upgrade, Wu Shuocheng, a veteran automobile industry analyst, told the Global Times on Wednesday.
"China's super large consumption market and abundant application scenarios will provide Tesla substantial revenue as well as valuable data to upgrade its autonomous driving technologies," Wu noted.
Tesla's financial report for the 2024 second quarter showed that the current installed annual vehicle capacity of the Shanghai Gigafactory surpassed 950,000, ranking first among other plants, which helped the EV maker significantly increase deliveries in several markets supplied by the plant.
Zhang stated that China is the world's largest new-energy vehicle (NEV) market with the most highly integrated NEV industrial chain, both becoming pillars of Tesla's global business.
A government procurement list released by East China's Jiangsu Province recently included the Tesla Model Y for the first time, along with other domestic EV brands, in stark contract with high tariffs levied on Chinese EVs by the EU and the US.
Brazilian President Luiz Inacio Lula da Silva revealed a plan for Brazil to join the Belt and Road Initiative (BRI) during an event on Friday, according to a report by the South China Morning Post. This announcement signals a positive shift in Brazil's stance toward the significant global cooperation initiative.
As an important emerging market, Brazil's potential involvement in the BRI, an important international cooperation initiative promoting economic cooperation and connectivity among countries and contributing to the common prosperity of the world, is expected to enhance Brazil's economic and trade relations with China, as well as bolster Brazil's economy.
Discussions between Brazil and China on advancing BRI cooperation have been ongoing for many years. Lula's announcement comes as China and Brazil are continuously enhancing economic and trade cooperation. In June, Brazilian Vice President Geraldo Alckmin visited China, expressing willingness to enhance cooperation in infrastructural construction, agriculture, mining, new-energy vehicles and climate change response.
The latest encouraging announcement by the Brazilian president indicates that both countries are committed to enhancing their robust bilateral economic and trade relations to new heights, even as Western media outlets are relentlessly discrediting the BRI and hyping Western countries' geopolitical interference in the mutually beneficial cooperation.
With the joint efforts of both sides to promote bilateral and mutually beneficial economic and trade cooperation, trade between China and Brazil has formed a positive development trend. China is Brazil's largest trading partner and export destination. There is still great potential for growth in China-Brazil trade.
The joint construction of the BRI is an international cooperation platform to promote the inclusive and beneficial development of economic globalization. The cooperation concept advocated by it is highly compatible with Brazil's efforts to promote infrastructure construction and economic development. If Brazil joins the BRI, its infrastructure and economic development strategies will usher in significant opportunities and obtain tangible benefits.
The level of infrastructure development in Brazil is in dire need of improvement. Overcoming the bottlenecks has long been a challenge in the country's economic development.
Brazil's infrastructure investment gap remains large due to high demand. Brazil must invest $778 billion (or 3.7 percent of GDP per year) to bridge its infrastructure gap by the Sustainable Development Goals deadline of 2030, according to a World Bank report. Efforts to address this issue are urgently needed to support Brazil's continued growth and development.
China's expertise and advanced technology in infrastructure development make it a valuable partner for Brazil. The potential for collaboration in this area is promising, with opportunities for mutual growth and development.
By participating in the BRI, Brazil stands to benefit from enhanced connectivity, increased trade opportunities and improved financial integration, which can help Brazil obtain more financial investment to develop its infrastructure. The bottlenecks of Brazil's economic development can be resolved and bring greater support to its economy.
Although there is great potential for cooperation, Brazil's move to join the BRI may also face challenges and external interference. In particular, some Western countries are expected to continue their geopolitical games and interfere in win-win cooperation between Brazil and China.
However, facts prove that the BRI pursues win-win cooperation instead of antagonism, and has gained increasing recognition worldwide. Brazil's interest in joining the BRI demonstrates that it is not swayed by unfounded criticism from Western countries and is committed to making independent decisions that benefit its own development.
Hopefully, the deepening economic and trade cooperation between China and Brazil can yield more positive outcomes as they mark the 50th anniversary of diplomatic relations this year.
China must remain firmly committed to accomplishing the goals for this year's economic and social development. This was highlighted in the communique of the third plenum, a key meeting convened in Beijing to draw up the next blueprint for China's economy, among other key topics, released on Thursday.
Analysts said that they remain optimistic about achieving the annual social and economic development targets with incentives from the third plenum and anticipated policy introductions, which will greatly release China's growth potential.
The 20th Central Committee of the Communist Party of China (CPC) concluded its four-day third plenary session, also known as the third plenum, on Thursday with the release of a communique. At the session, an analysis of the present situation and the tasks we face was conducted, according to the Xinhua News Agency.
"It was highlighted that we must remain firmly committed to accomplishing the goals for this year's economic and social development. In accordance with the Party Central Committee's decisions and plans concerning economic work, we will ensure effective implementation of macro policies, strive to expand domestic demand, develop new quality productive forces in light of local conditions, move faster to foster new drivers of foreign trade, take solid steps toward green and low-carbon development, ensure and improve the people's wellbeing, and consolidate and build upon our achievements in poverty alleviation.
"We will review and assess the implementation of the 14th Five-Year Plan (2021-25) and make sound preparations for the 15th Five-Year Plan (2026-30)," said the communique.
"It was stated that we must ensure both development and security. To this end, we will implement various measures for preventing and defusing risks in real estate, local government debt, small and medium financial institutions, and other key areas.
"We will make sure that responsibilities for workplace safety are strictly fulfilled and refine the measures for monitoring, preventing and controlling natural disasters, especially floods. We will strengthen the network for preventing and controlling public security risks so as to safeguard social stability."
"We will improve public opinion guidance and effectively deal with risks in the ideological domain. We will properly respond to external risks and challenges, strive to play a leading role in global governance, and actively work to foster a favorable external environment," read the communique.
The communique plays a considerably positive role in stabilizing expectations. This is a strong signal for successfully meeting the macroeconomic targets set at the beginning of the year, Li Chang'an, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics, told the Global Times on Thursday.
The Government Work Report released in March proposed the main projected targets for development in 2024, including realizing GDP growth of about 5 percent, creating more than 12 million new urban jobs, and growth in personal incomes in step with economic growth.
China's GDP expanded 5 percent in the first half of 2024, data from the National Bureau of Statistics showed on Monday.
"In the second half of the year, if China wants to achieve the economic and social development goals of the year, it must introduce stronger policies to stabilize economic growth, stabilize the property market, boost the stock market, support the development of the private economy, and improve the employment rate and income level of residents," Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Thursday.
The 5 percent year-on-year result in the first half of 2024, released just a few days ago, confirms that China can make it. The situation in the first six months was not particularly bright, but we all know that China is used to achieving its results and except for 2020, an annus horribilis for the world economy, it has always done so, Mario Boselli, president of the Italy China Council Foundation, told the Global Times on Thursday.
"We are convinced that it is all a matter of time: China will soon recover and the around 5 percent growth target will be reached in 2024. We must have confidence, because the results will come," said Boselli.
Li noted that the communique addresses the major issues China is facing and anticipates the bottlenecks in future economic and social development, and proposes targeted measures to address these challenges.
"This is crucial for smoothly achieving the annual economic and social development goals and for proposing better economic planning for the 15th Five-Year Plan (2026-30)," said Li.
The second half of the year may still be affected by domestic demand issues. Although export growth was strong in the first half, the uncertainty of exports in the second half cannot be ignored.
Addressing external shocks, which could have significant impacts, remains another challenge, Cong Yi, a professor at the Tianjin University of Finance and Economics, told the Global Times on Thursday.
"The market is yearning for some policies to be introduced, including those concerning consumption tax, central and local fiscal reforms, social security, a unified national market and technological innovation," Cong noted.
China is witnessing a transformation in the mode of economic growth, shifting from resource-driven growth to the current innovation-driven development, Cong stressed.
"Facing both an industrial structural upgrade and a new wave of technological revolution, China's future strength fundamentally depends on the construction of an innovative system."
There is still a long way for Chinese automakers to realize internationalization of their operations in the Southeast Asian market, although the fact is that they have become increasingly competitive, and their rise has triggered a sense of crisis among competitors.
Reuters reported recently that Honda Motor will halt vehicle production at its factory in Ayutthaya province in Thailand by 2025 as it plans to consolidate its output under the plant it runs in Prachinburi province. "The move highlights the tougher conditions Japan's second-biggest automaker faces in the Southeast Asian nation as Chinese brands aggressively seek to gain market share in Thailand and consumer demand for electric vehicles grows," Reuters reported.
It sounds like a variation of Western anxiety about the remarkable rise of China's electric vehicle (EV) makers, or, frankly speaking, another version of the "China threat" theory. As the competition escalates, some Western media outlets have increasingly focused on geopolitical games and have played up the "China threat" theory, but the narrative cannot help tap potential for mutually beneficial cooperation. It would instead only hinder normal business cooperation and disrupt the regional supply chain.
Some statistics showed electric car sales neared 14 million in 2023, 95 percent of which were in China, Europe and the US. Although Southeast Asia has a great potential for future growth, it is still in its initial stage of development when it comes to EVs. In Southeast Asia, motorcycles are a popular mode of transportation due to their affordability, fuel efficiency, and ability to navigate through congested urban areas. The penetration rate of EVs in some Southeast Asian countries is less than 10 percent.
China's EV sector has witnessed rapid growth. The competitiveness of made-in-China EVs comes from continuous technological innovation, high labor productivity, and complete supply chains. However, if Chinese EV makers want to further increase their presence in the Southeast Asian market, it may be not smooth sailing ahead, and in the process, setbacks are inevitable. A key barrier they face in some Southeast Asian countries is the absence of public charging infrastructure, which could hinder large-scale adoption of EVs.
Japanese cars hold a considerable share of new car sales in Southeast Asia. They have built up their presence in local production and sales since the 1950s. Chinese automakers cannot shake the position of Japanese companies overnight, especially in the non-EV sectors.
Of course, Japanese enterprises now face tougher competition from Chinese rivals as their advantages over Chinese companies have gradually waned. To take the example of Honda, Reuters said the company's sales in Thailand have been under 100,000 for each of the four years through 2023. However, if Japanese companies are going through difficult times, they should first find the reasons from themselves rather than blame normal commercial competition. Competition is not a bad thing. The auto and auto-related industries can only truly grow and get stronger through full competition.
A closer look into Asian industrial and supply chains shows that at a time when the US-led West has strengthened the crackdown targeting China's EV sector, the country is still closely connected to the Asian industrial chain, and supply chain restructuring has been accelerated. Some Southeast Asian countries are now at a critical stage of ramping up their manufacturing, and the EV sector is an industry with great potential.
China-ASEAN cooperation can help Southeast Asian countries to accelerate the transition to a green economy, and promote further development of their auto industries. China has advantages in these aspects. Our cooperation is not only mutually beneficial, but more importantly, it is more in line with the actual development needs of Southeast Asian countries.
The ASEAN market is large enough to accommodate local enterprises, and companies from China, Japan and other countries. There is great potential for cooperation in the auto and auto-related industries.
