Xi Jinping congratulated Luiz Inácio Lula da Silva on his election victory

Chinese President Xi Jinping congratulated Luiz Inácio Lula da Silva on Monday (31st) on his election victory for the position of president of the Federative Republic of Brazil in the elections held this Sunday (30th).

In the message, Xi emphasized that China and Brazil are important developing countries, emerging markets, and share broad common interests and responsibilities.

The Chinese president pointed out that since the establishment of diplomatic relations 48 years ago, with the joint efforts of the governments of the two countries and all sectors of society, Sino-Brazilian relations have achieved rapid development, and cooperation in various fields has yielded results. fruitful.

Xi further emphasized that the long-term friendship between China and Brazil and the deepening of mutually beneficial cooperation is in the fundamental interest of the two countries and the two peoples and contributes to the maintenance of regional and world peace and stability and the promotion of development. and shared prosperity.

“I attach great importance to the development of China-Brazil relations, and I am willing to work with Lula as President-elect to jointly plan and promote the China-Brazil Comprehensive Strategic Partnership to a new level from a strategic and long-term perspective to benefit both countries.” and two nations.”
President of the People’s Republic of China Xi Jinping

China’s top legislature ends its standing committee session

Xinhua – Chairman of the Standing Committee of the National People’s Congress (NPC), Li Zhanshu, presides over the closing meeting of the 37th session of the 13th Standing Committee of the NPC (10/30/22).

The Standing Committee of the 13th National People’s Congress (NPC), the legislature of the People’s Republic of China, concluded its 37th session on Sunday (30th) in Beijing.

At the final meeting, the deputies voted for the adoption of the revised law on the protection of the rights and interests of women, the law on the protection of the Yellow River and the revised law on livestock.

They also adopted a decision to remove Chen Wenqing as Minister of State Security and appoint Chen Yixin to the position.

President Xi Jinping has signed four presidential decrees to enact laws and decisions.

Li Zhanshu, chairman of the NPC Standing Committee, presided over the closing meeting.

Lawmakers ratified several treaties on international legal assistance in criminal matters, reports on the qualifications of representatives and draft laws related to personnel, among others.

During the meeting, Li called on relevant authorities to step up the promotion of newly passed laws, improve support measures and ensure that the laws are effectively implemented.

Li said that studying and implementing the guiding principles of the 20th National Congress of the Communist Party of China (CPC), held from October 16 to 22, 2022, is the main political task now and for some time to come.

The NPC and standing committee, along with all special committees and administrative bodies, should focus on the main decisions of the CPC Central Committee for now and for some time to come, and carry out their work in accordance with the law, Li said.

He urged them to unite more closely around the CPC Central Committee under the leadership of Xi Jinping and to fully implement the guiding principles of the 20th National Congress of the CPC in all aspects and through the working process of the people’s congresses.

Li also presided over a meeting of the Council of Chairmen of the NPC Standing Committee before the closing meeting.

China manufacturing PMI for October declines as pandemic continues

CFP – A worker works on a production line in the southern Chinese province of Fujian

The Purchasing Managers’ Index (PMI) for China’s manufacturing sector stood at 49.2 in October, down from 50.1 in September, data from the National Bureau of Statistics (NBS) showed on Monday (31).

Influenced by domestic sporadic cases of Covid-19 and other factors, the activities of the manufacturing and service sectors decreased in October, indicating that the foundations for China’s economic recovery need to be further consolidated, explained NBS senior statistician Zhao Qinghe.

The official reading was below economists’ forecast of 50 for the month, according to a Reuters poll. A reading above 50 indicates expanding activity, while a reading below reflects contraction.

The manufacturing index and the new orders index fell by 1.9 and 1.7 percentage points, respectively, from September to 49.6 and 48.1, respectively, reflecting subdued production and market demand.

Large corporations maintained the momentum of expansion, while small and medium-sized corporations remained stuck in contraction with heavy pressure on production and labor.

Despite the headwinds, most industries expressed optimism about future business. The index of expectations of production and operational activity was 52.6. Among the 21 surveyed industries, 13 are in the expansion range.

The index of non-manufacturing business activity fell 1.9 percentage points to 48.7 in October, reflecting a slowing recovery.

However, the construction industry is a bright spot, with a business activity index of 58.2 and growing optimism in the sector.

The official composite PMI, which covers manufacturing and service industries, fell to 49 in October.

This year, China introduced a number of measures to strengthen the economy, from fiscal and monetary policy to trade facilitation. The country’s GDP grew by 3.9% in the third quarter compared to the previous year, beating market expectations.

Pilot free trade zones are preparing for the high-quality opening of China

Xinhua

In the Hefei Pilot Free Trade Zone (FTZ) area of ​​east China’s Anhui province, construction of the Volkswagen Anhui factory is in full swing, with mass production of electric vehicles planned for 2023.

A few kilometers away from this industrial plant, Dazhong College, jointly built by Volkswagen China Group, Volkswagen Anhui and Hefei University, has started operations in a pilot FTZ. Inspired by the German system of vocational education, the college aims to nurture more qualified talents, adapted to the needs of companies.

Founded in 2017 in the provincial capital of Hefei, Volkswagen Anhui is focused on the research, development and production of new energy vehicles (NEVs) to tap into the world’s largest electric car market.

“Pilot FTZ not only provided many convenient services and support for our projects, but also helped in the daily work of the foreign team in the zone, increasing the confidence of foreign companies,” explained the head of relations with the Volkswagen Anhui government to Xinhua agency, Ronny Buechner.

Last month marked the second anniversary of the inauguration of the Anhui pilot FTZ. In the first half of this year, it achieved foreign trade of 95.93 billion yuan (about 13.38 billion US dollars), which is 28.5% more than the previous year, according to the Administration Office of the Pilot Free Trade Zone of China (Anhui ).

Pilot FTZs serve as “testing grounds” for China to advance reforms and opening up. In 2013, China’s first FTZ pilot was launched in Shanghai. In less than 10 years, the number of such zones has risen to 21, located in coastal economic centers such as Guangdong and Zhejiang, and inland regions such as Sichuan and Shaanxi.

The pilot FTZ in Shanghai is now home to carmaker Tesla’s first Gigafactory outside the United States, which began construction in January 2019. In mid-August, the Gigafactory reached a new milestone with one million vehicles produced.

The rapid expansion of pilot FTZs shows China’s unwavering determination to open up more and share development opportunities with the rest of the world.

Trading and investing are simple

Loaded with rubber, the cargo ship arrived at the port of Wuhu on a pilot FTZ from Anhui. According to the newly introduced modality of delivery on board, the containers, which previously filled out the customs declaration, were unloaded directly onto vehicles and transported from the port.

“In the past, the goods first went to the warehouse and we had to go through a series of procedures to collect them, which usually took more than a day,” Zhang Changgen recalls. He explained that thanks to the new way of working, the container can now be picked up half an hour after arrival, which greatly reduces logistics time and costs.

“While attracting international talent, technology and companies, pilot FTZs also provide a platform for testing new business forms and models,” noted Chen Shiyi, director of the China Free Zone Pilot Institute (Anhui).

Building on regional strengths, pilot FTZs across China are exploring new ways to improve the business environment and deepen openness. For example, the FTZ pilot in southern China’s Guangxi Zhuang Autonomous Region has established a major cross-border e-commerce logistics channel for the Association of Southeast Asian Nations (Asean) and launched 10 air routes to countries such as Indonesia, Thailand and Malaysia, according to the regional department of trade.

The continuous reduction of negative listings in the pilot free zone allowed foreign investments to have greater access to the market. Since the first FTZ pilot negative list for foreign investment was implemented in 2013, the number of items on the list has been reduced from 190 to 27 in 2021 after seven rounds of changes, Vice Minister of Commerce Wang Shouwen reported in March.

On the same occasion, the deputy minister praised the active role of these zones in promoting the stability of Chinese foreign trade and investment. In 2021, the actual use of foreign capital of the 21 pilot free trade agreements increased by 19%, 4.1 percentage points above the national level, he pointed out.

Meanwhile, the total import and export volume of the 21 pilot FTZs reached 6.8 trillion yuan last year, accounting for 17.3% of China’s total import and export volume, according to the ministry.

Promoting financial innovation

Xinhua

Based on their significant role in fostering high-level openness, pilot free trade agreements have become China’s new focal point for innovation and financial reform.

The Shanghai FTZ pilot has taken the lead in introducing a number of financial innovation measures, including increasing the cross-border use of the RMB and establishing a free trade account system. The system has been introduced for pilot FTZs in Tianjin Municipality, Guangdong Province and other regions of China.

In the past three years, more than 400 financial companies have set up in the Lingang New Area, a pilot FTZ in Shanghai, with an industrial investment fund system worth 283 billion yuan.

Earlier this year, the first group of foreign banks established their presence in the area, including United Overseas Bank (China) Limited (UOB China). The bank has been actively working with its partners to develop innovative solutions in areas such as international cash management, offshore trading, investment in offshore funds and sustainable financing, said Peter Foo, president and CEO of UOB China.

“Financial opening reflects China’s deeper opening on a larger and broader scale. We must use the leadership role of the pilot free trade agreement to advance systemic reform and promote the level of internationalization of financial services,” said Zheng Yi, a researcher with the China Free Trade Pilot Institute (Anhui ).

With information from Xinhua and CGTN

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