China's home-made C919 aircraft arrived back in Shanghai on Monday, after making its debut at the Singapore Airshow.
The plane arrived in Singapore on February 17 together with another C919 and three ARJ21 aircraft.
China Eastern Airlines said the C919 was on static display for the public during the air show.
During the six-day show, the booth welcomed more than 20 groups of visitors per day, said Hu Hong, cabin manager of China Eastern Airlines' cabin department. She said that the visitors included heads and senior professionals from aircraft manufacturers, aviation service providers, and upstream and downstream enterprises in the aviation industry chain.
They were very interested in asking about every detail in the cabin, especially the C919's cabin layout, number of passengers, commercial routes, operating data and routes to be opened in the future, Hu said.
China's Tibet Airlines and Commercial Aircraft Corporation of China signed a deal at the airshow for 50 aircraft suitable for high-altitude plateaus - 40 C919 and 10 ARJ21 jets.
A sea-rail intermodal train loaded with 100 TEUs of thermos cups, folding chairs and other goods departs from a train station in Jinhua City, East China's Zhejiang Province, and heads for Ningbo Zhoushan Port, to ship overseas on February 23, 2024. It is the station's first freight train trip after resumption of work following the Spring Festival. Photo: VCG
As the National Bureau of Statistics (NBS) reported last week the Chinese economy expanded by 5.2 percent in 2023 from the previous year, several Western media outlets immediately cast doubt over the reading, casting it in a negative light and seized the opportunity to wage a smear campaign on China's economic growth.
The way some leading Western newspapers describe China's 2023 GDP data carries a pessimistic connotation, which Chinese analysts said is in the tradition of their long-standing biased reporting on China, which serves their ulterior and sinister motives.
Upon a closer inspection, people will find out that such a narrative tends to be diminishing China's hard-won economic achievement in its successful emergence from the impact of COVID-19 pandemic, by overstating the troubles China's economy faces.
These are new rounds of so-called cognitive warfare against China, an important means for Western anti-China forces to attack and discredit the country, Chinese analysts pointed out.
After the NBS's 2023 GDP and other data were published, the Wall Street Journal, in a report entitled "China's Economy Limps Into 2024," alleged that China's growth will be "subpar until property market and income growth find a firmer footing."
The New York Times, meanwhile, published an essay entitled "China's Economy Is in Serious Trouble," in which the author, noted American economist Paul Krugman described that "the US economy vastly outperformed expectations in 2023," but "the story has been very different" in China.
Misinformation at work
While China's economy faces drag from certain sectors, such as a correction in the property sector, the wording and connotation carried in the Western media reports seem to be misinformation upon closer examination, analysts said.
China's 5.2-percent growth in 2023 far exceeded an estimated global average of 3-percent growth and China will likely continue to be the largest growth engine for the global economy, with a contribution of more than 30 percent to the world economy, Kang Yi, head of NBS, told a State Council Information Office press conference on January 17.
As a matter of fact, China's GDP growth is clearly one of the highest growth rates reported across the world's major economies. Compared to a mere 3.0-percent rise in 2022, the 5.2-percent growth in 2023 is both substantial and impressive, meeting Chinese government's preset target and in line with the projections by a wide poll of economists.
Moreover, according to estimates by some analysts, China is among the fastest growing major economies in the world, measured in the four years after the pandemic, growing at more than double the rate of the US and several times faster than the eurozone.
Not only China maintained a sound economic growth in 2023, the country is also poised to achieve good growth rates in 2024 and beyond.
China's economic growth is expected to reach around 5 percent in 2024, Li Daokui, director of Tsinghua University's Academic Center for Chinese Economic Practice and Thinking, told the Global Times on January 20.
Analysts expected stable economic growth in China in 2024, to be mainly fueled by supportive macro policies, and accelerated consumption and investment.
China's economy is expected to run smoothly in 2024, with annual GDP growth of about 5.3 percent, the Center for Forecasting Science of the Chinese Academy of Sciences, the government think tank, said in a forecast report published on January 9.
Ulterior purposes
Analysts said the twisted narratives adopted by the Western media showed their renewed efforts to interplay with positions held by the US politicians on the so-called "China collapse" theory, to scare investors away from China in the sphere of increasingly important financial competition in which the US deem China as a threat to its supremacy and hegemony.
Ma Jihua, a veteran telecom observer, told the Global Times on Wednesday that as the US government's endeavor to suppress China's technology development has to a large extent failed, demonstrated by China's steady expansion in mature semiconductor chips.
And, increasingly, the focus of competition is being shifted to the financial front, in which media misinformation plays a key role.
"Since last year, the US stock market has been on an upward trend, regardless of the economic woes the US economy had. It seems neither weak economic data nor a pending fiscal crisis that festers the economy can prevent the US stock market from going higher and higher," Ma said.
As the US stock market became "too big to fail," Western politicians, financial institutions and media are motivated to spin narratives that can shepherd capital away from China and into the US, and this tactic will not only serve to buttress the precarious performance of the US stock market, but hurt that of China's, observers noted.
Some Western media pundits also weighed in, delving into narratives to prove that China's economy is in dire straits, in the hopes to frighten away China's business partners and international investors interested in buying Chinese yuan-denominated assets and diversifying their investment portfolios to reduce their holdings of US dollar assets.
Deeply rooted in their zero-sum mentality, misinformation has become a tool in the overall US strategy to suppress China's development, Li Haidong, a professor at the China Foreign Affairs University, told the Global Times on Tuesday.
"Some Western media outlets have used this occasion to once again distort the development of the Chinese economy in both quantity and quality terms," Li Haidong said. "They may hope their way of story-telling could sow discontent and instability among Chinese over the country's economic future."
"In finance, confidence is paramount. Whoever commands confidence and market expectation command resources. Economies that face destabilization will see resources flee away," Li Haidong said, noting that the reporting of China's 2023 GDP once again showed that Western media has been instrumental in the West's China-smearing campaign that is a far shot from fact.
The China Securities Regulatory Commission (CSRC) pledged to take more powerful and effective measures to stabilize the market and boost confidence during its 2024 work meeting held on Thursday and Friday.
The conference conveyed a proactive approach to addressing the concerns of investors, with a commitment to maintaining market stability and intensifying the crackdown on unlawful practices, analysts said.
Efforts will be made to enhance the internal stability of the capital market and establish effective mechanisms to maintain its smooth operation, the CSRC said.
Among the key takeaways from the conference were an emphasis on an investor-centric approach, coordination between stability and progress, and integrated promotion of strong regulation, risk prevention, and development.
The CSRC said it will improve regulatory rules such as issuance pricing, quantitative trading, and margin trading to protect the rights of investors, especially smaller and individual investors.
Additionally, it will promote the assessment system for state-owned enterprises based on their market value and reinforce the regular delisting mechanism, promoting survival of the fittest.
The CSRC said it will increase efforts to combat fraud, stock manipulation and insider trading in the capital market. It will also intensify investigations into wrongdoing and impose more severe penalties on lawbreakers.
Efforts will be made to push for the sound implementation of a registration-based system for stock issuance, strengthen effective supervision throughout the entire process of issuance and listing and improve relevant mechanisms and arrangements, it said.
The CSRC also pledged to promote the integration of strong regulation, risk prevention and development, while coordinating risk control and providing appropriate financing support.
The Shanghai Composite Index closed on Friday at 2910.22 points, up 0.14 percent, achieving a four-day winning streak. The Shenzhen Component Index closed at 8762.33 points, down 1.06 percent. The tech heavy ChiNext Index closed at 1682.48 points, down 2.23 percent.
South Korean chip maker SK Hynix has dismissed rumors that it is selling its factory in Dalian, Northeast China's Liaoning Province, which mainly produces 3D NAND flash memory. It said it remains focused on the company's business in China.
"We do not intend to sell our Dalian factory in China at all," the company said in a statement on Tuesday, according to a report by guancha.com.
In light of trade restrictions and the US' intensifying chip war, SK Hynix said that it will maintain its China operations, while abiding by regulations and laws in the jurisdictions in which it does business. The firm is the world's second-largest memory chip maker.
It also vowed to make further contributions to the development and stabilization of the semiconductor industry, the report said.
Earlier this month, Bloomberg reported that SK Hynix had been affected by the US' export control policy and was considering the sale of its Dalian factory, which the Seoul-based company acquired for $9 billion from US technology company Intel in December 2020.
South Korea's economy is heavily reliant on the semiconductor sector. That makes it especially vulnerable to Washington's drive to restrict supplies to China and constrain Beijing's access to key chip technology, the Bloomberg report said.
Against the backdrop of mounting pressure from the US on Seoul and other countries to isolate China from global tech supply chains, this is the second time the South Korean manufacturer has denied rumors about the upcoming sale of the factory in Dalian.
In April last year, the company described "the rumored sale" of the Dalian plant as "unsubstantiated," saying construction of the Dalian facility "will be completed as planned," South China Morning Post reported.
According to a Business Korea report, China accounts for a significant portion of sales for South Korean semiconductor manufacturers, and SK Hynix's revenue from sales to China peaked at nearly 47 percent of the total in 2019.
In May 2022, the firm announced it would build a new wafer manufacturing base in Dalian to produce 3D NAND flash memory, further expanding its business in China after acquiring Intel's assets in the region.
The new manufacturing facility will promote the competitive power of its local capacity as well as securing supplies in the Chinese market, according to Chung Eun-tae, president of SK Hynix China.
He noted that China is an important partner for SK Hynix and the company has been continuing its investment in its existing facilities in Wuxi, East China's Jiangsu Province and Southwest China's Chongqing Municipality.
China plans to launch a "2024 Spring Breeze Action" from late January to early April, aiming to create 30 million job openings. Experts noted on Wednesday that the initiative is to stabilize employment and boost the economic recovery as the new year begins.
The initiative targets rural labor and businesses with a shortfall of workers, focusing on guiding migrant workers returning to urban centers, promoting local employment and entrepreneurship and organizing recruitment services for businesses, Yun Donglai, a deputy director of the Ministry of Human Resources and Social Security's employment promotion department, said at a press conference.
The action has six key aspects. First, it involves accurately identifying needs across the labor market by delving into rural communities and workshops, using various methods to learn the preferences of workers and the headcount requirements of employers, Yun said.
It also includes conducting intensive recruitment by making full use of online platforms such as recruitment websites and short video platforms, as well as public squares, transit stations and marketplaces to launch targeted recruitment activities.
It will also facilitate joint recruitment efforts between labor-intensive regions and regions that are short of laborers, and encourage entrepreneurship by exploring entrepreneurial incubation bases and hometown entrepreneurship parks. Additionally, it will aim to match job opportunities and skills training for older migrant workers.
The Spring Breeze Action has been an annual event for many years, representing a significant part of government-led efforts to promote employment, Li Changan, a professor at the Academy of China Open Economy Studies of the University of International Business and Economics, told the Global Times on Wednesday.
The period from January to April is crucial for the labor market, particularly for groups like migrant workers, as the period around the Spring Festival holidays represents a crucial time for finding a job, Li said.
These policies could reduce imbalances in employment information and enhance the overall efficiency of the job market, Li said.
In 2023, China added 12.44 million urban jobs, official data revealed. The surveyed urban unemployment rate stood at 5.2 percent, down 0.4 percentage points from 2022.
The overall employment situation remains stable, with a continued improvement for key demographic groups, the National Bureau of Statistics (NBS) said in a report.
Thanks to the normalization of economic activities, major cities have experienced a boost in economic vitality, leading to a continuous improvement in the employment situation, Wang Pingping, an NBS official, said in a statement.
Despite mounting pressures in the labor market in recent years, several new trends have emerged for new graduates and other job hunters to explore, and this situation is expected to continue to stabilize the job market and boost the economic recovery, experts said.
For instance, there is a growing trend of university graduates returning to their hometowns to start businesses. With the flourishing development of the digital economy, a considerable number of self-employed, temporary or flexible employment models have become new trends in the market.
The emergence of cutting-edge technologies in the digital economy - combined with new scenarios and sources of demand - have brought more options and chances for young people, Li Qiang, a vice president of Zhaopin.com, told the Global Times in a recent interview.
A diverse range of job opportunities have emerged with different entry levels, from the frontiers of digital technology to more basic jobs in expanding sectors such as artificial intelligence (AI), Li Qiang noted.
Mexin Group, a door company based in Southwest China's Chongqing Municipality, told the Global Times that it has created new positions and expanded the hiring of AI engineers amid the development of its intelligent production.
Digital transformation has advanced the production and development patterns for enterprises in the manufacturing sector, while providing potential and space for young job applicants, particularly in rising sectors such as industrial automation and new energy.
According to Zhaopin.com, in the first half of 2023, the number of job openings in the new-energy industry grew 36.1 percent year-on-year, while in the industrial automation sector, job openings rose 6.9 percent.
Industrial automation supports technology and products in smart manufacturing. The growth in recruitment reflects the vigorous momentum of new manufacturing and shows the country's enthusiasm for digital transformation across various industries, the report said.
As one of the largest dairy and milk consumers in the world, with an annual industry growth rate of about 10 percent, China has in recent years set its sights on aseptic packaging, an unassuming but critical phase for the milk industrial chain, which aroused market attention as Chinese companies strategize to break foreign monopoly through business mergers and acquisitions.
In the Chinese market, aseptic packaging demand is primarily driven by liquid milk products. In 2022, the retail scale of domestic liquid milk reached about 440 billion yuan, marking a 4 percent year-on-year increase. The sector’s compound annual growth rate is projected at 4.8 percent, supporting the burgeoning aseptic packaging industry, according to data from China Insights Consultancy.
Chinese leading aseptic packaging enterprise Shandong NewJF Technology Packaging Co., Ltd (NEWJF) announced in January 2023 its acquisition of a 28.22 percent stake in Greatview Aseptic Packaging and completed the acquisition in October of the same year, notably boosting NEWJF’s competitiveness in the liquid product packaging market.
“From a macro point of view, the acquisition further enhanced China’s food security and accelerated the domestic substitution in aseptic packaging sector,” a representative from NEWJF told the Global Times, adding that the move also promoted a long-term steady development of downstream enterprises.
Both NEWJF and Greatview are prominent companies in the industry and their cooperation is seen as a strategic endeavor to enhance the overall competitiveness and productiveness of the domestic aseptic packaging industry.
The two sides’ partnership includes a centralized fund for research and development aimed at upgrading domestic aseptic packaging technology, ensuring the security and independent development of the sector, said the NEWJF.
“NEWJF values this cooperation opportunity, and is willing to explore the aseptic packaging sector providing clients and industry with better services,” said the NEWJF，as Greatview published circular and notice of Shareholders’ Assembly on appointment of directors on January 9, 2024,“It is our right to appoint directors as the largest shareholder and we believe that diversifying Greatview’s board of directors will expedite its sustainable development.”
Founded in 2007, NEWJF, listed on the Growth Enterprise Market of the Shenzhen Stock Exchange in September 2, 2022, witnessed consecutive revenue growth from 2020 to 2022. Analysts believe that the acquisition will facilitate NEWJF in further exploring international markets.
About 20 years ago, aseptic packaging technology played a pivotal role in Chinese milk brands’ nationwide development. This technology, which allowed for a six-month-expiration date for fresh milk, was initially monopolized by foreign companies, stifling the independent development of the domestic milk industry.
At the time, Swedish aseptic packaging company Tetra Pak held over 90 percent of the domestic market share, cooperating with Chinese milk giants Yili and Mengniu. Before 2008, the cost for aseptic packaging accounted for about 30 percent of the overall cost of milk products, and compressed the profit margin of the milk industry.
According to a report from Chinese analysis firm TF Securities, in 2020, Tetra Pak still accounted for over 50 percent of domestic market share, while domestic aseptic packaging brands are expected to gradually increase market share by breaking through technological monopolies, and entering the core customer supply chain with a price advantage.
NEWJF became qualified provider of aseptic packaging material for Yili in 2009 and it solidified its ties when Yili bought a 20 percent stake in NEWJF in August 2015. While Yili’s current stake has been reduced to less than 5 percent at present, it still remains NEWJF’s largest client, generating 70 percent the packaging company’s revenue.
Greatview Aseptic Packaging accounts for about 40 percent of products of Mengniu, and is also the core supplier of New Hope Dairy and its wholly-owned subsidiaries Xiajin Milk.
The acquisition helped NEWJF resolve overcapacity issues with Mengniu and enhance production efficiency by adopting a universal management system. The collaboration between the two leading companies also facilitated the healthy development of the industry, moving away from price wars.
What’s more, Greatview’s overseas manufacturing bases and aseptic filling machine technologies were also a catalyst for the domestic substitution process of aseptic packaging, further boosting NEWJF’s global business.
Business insiders said the acquisition positions NEWJF as the most promising aseptic packaging company in China, with the potential to replace Tetra Pak.
According to data from SWS Research, domestic demand for aseptic packages was 113.6 million in 2022, up 3.2 percent year-on-year. The market scale has grown to 20.1 billion yuan, reflecting a 4.1 percent year-on-year increase.
Considering the numerous opportunities in China's milk and beverage market, NEWJF is expected to replicate Tetra Pak's successful path and grow into a “Hidden Champion” in the unassuming industry of aseptic packaging.
The recent report released by the long-established conservative think tank in the US, the Center for Strategic and International Studies (CSIS), states that China's scientific research vessels engaged in energy and marine environmental surveys in the Indian Ocean can support "military needs," including how to maneuver and obscure submarines during conflict. The timing of this report is delicate, coinciding with the visit of Maldivian President Mohamed Muizzu to China, while another South Asian country, Sri Lanka, recently announced the suspension of foreign research vessels including those from China entering its waters under India's pressure. The CSIS report rightly comes at a time when some countries need to manufacture a "China threat" narrative in the Indian Ocean region and provides them with ammunition.
It is essential to shed light on the CSIS in this context. Founded during the Cold War, it has intricate connections with the US military and intelligence agencies. Active-duty military officers can directly serve as researchers in the think tank, and the think tank also regularly undertakes policy reports commissioned by the US Department of Defense. When a think tank with such affiliations releases a report, it becomes challenging for the outside world to acknowledge its authenticity and independence, prompting skepticism about whether it serves as a "white glove" for advancing the strategic and tactical objectives of the US military.
Another noteworthy point is that, following the release of the report by CSIS, Western media quickly followed up on its content. This pattern of "military/intelligence agencies leak information - media follows up with sensationalism - government and parliament apply pressure" has become quite common in recent years in the US and Western countries. The so-called "evidence" against China is often later proven to be baseless or inconclusive, while measures by the US and Western countries to contain and suppress China remain in place.
For instance, take the recent issue raised by the US regarding China's comprehensive scientific expedition in the Indian Ocean. These activities have been ongoing for many years and involve more than just China; countries like Myanmar, Sri Lanka, Thailand, Bangladesh, among others, were once invited by China to participate. Myanmar, Sri Lanka and Bangladesh are all Indian Ocean nations. Does this mean all these countries have intentions to "invade" the Indian Ocean? China has provided detailed public explanations regarding the research topics, scope, and results of each scientific expedition, both before and after the events. What more does China need to clarify? If some countries, right from the beginning, are not interested in the scientific research vessels but have other disguised intentions, then, no matter how China proves its innocence, they will find reasons to overturn it.
The US accuses China's scientific research activities of possibly having military purposes, but what the outside world perceives is the US showcasing its military actions in the Indian Ocean. Just last year, the US and the UK disregarded United Nations resolutions and the sovereignty of Mauritius by privately transferring Diego Garcia Island in the Indian Ocean, which sparked international outrage. Since the US wants to take such a big risk and maintain its military presence in the Indian Ocean, it definitely needs to find a reason. Since even Chinese garlic can be used as a reason to "threaten US national security," what else is deemed impossible?
The Indian Ocean is one of the least understood oceans by the scientific community, and a fundamental reason is the lack of sufficient on-site observations. The unsolved mysteries surrounding the Indian Ocean not only result in scientific losses but also imply uncertainties faced by Indian Ocean countries in terms of climate, ocean currents, resources exploration, and other aspects. In the context of global warming and rising sea levels, this even endangers the national security of coastal countries and the security of all humanity. China and regional countries are exploring the natural ecology of the Indian Ocean through cooperation, without any hidden agenda. The purpose is to further promote marine ecological protection, develop sustainable blue economy, and jointly respond to crisis challenges. In the eyes of some countries, including the US, they only see their own military hegemony and disregard other countries, obstructing and threatening other countries' independent cooperation. It needs to be reminded that most of the Indian Ocean is international waters, not their internal sea.
Interestingly, in response to the vivid portrayal of China's scientific research vessel as a "military threat" by American media outlets such as The Washington Post, there is merciless ridicule from some netizens. One comment sarcastically mocks the US, saying, "Oh my, doesn't China know that only the US can do such things?!" Regardless of how sternly it presents itself now, the US' double standards have already reduced its credibility to zero in the eyes of the international community, resulting in a backlash in public opinion. Hong Kong media has pointed out that while other countries are constrained by the US' selfish interpretation of international law, the US believes it is not bound by the law. Its ideology is, "Do as I say, not as I do."
Researchers from China and the US have jointly created a new type of stable semiconductor graphene, which displays performance 10 times higher than silicon and 20 times larger than that of the other two-dimensional semiconductors. The achievement marks "a leap from silicon chips to carbon chips," Ma Lei, leader of the research from the Tianjin International Center for Nanoparticles and Nanosystems (TICNN) at Tianjin University, who led the research, told the Global Times.
The achievement, jointly made by Ma's team and researchers from School of Physics, Georgia Institute of Technology in the US, was published online on the website of the journal "Nature" on January 3, 2024.
With silicon-based chips gradually approaching the physical limit of two nanometers, there is a surge in global demand for chips based on high-quality semiconductor materials. Two-dimensional materials, due to their excellent electronic transport properties and potential for high integration, have become a new frontier that scientists and semiconductor companies around the world are eager to invest in.
Graphene, as the first discovered two-dimensional material that can exist stably at room temperature, has been the focus of scientists' efforts since its discovery in 2004 to design a new type of chip that consumes less energy and operates faster than existing semiconductors. However, the unique Dirac Cones of graphene leads to its "zero bandgap" characteristic, which has been the biggest obstacle to its application in the semiconductor field.
By precisely controlling the epitaxial growth process of graphene, Ma's team introduced a bandgap into graphene, creating a new type of stable semiconductor graphene, which exhibits electron mobility far exceeding that of silicon materials. It displays performance 10 times higher than silicon and 20 times larger than that of the other two-dimensional semiconductors.
"We mainly applied a special growth environment and growth conditions to modulate graphene itself using SiC crystals, achieving the opening of a bandgap in graphene. This transforms the originally gapless graphene into a material with a bandgap," Ma said. He noted that what the team created "is a true single-crystal graphene semiconductor."
The development of this semiconductor not only paves the way for high-performance electronic devices surpassing traditional silicon-based technologies but also injects new impetus into the entire semiconductor industry. As the limits predicted by Moore's Law draw closer, the emergence of semiconductor graphene heralds a fundamental shift in the field of electronics. Its breakthrough properties meet the growing demand for higher computing speeds and miniaturized integrated electronic devices, read a report on the Tianjin University's website.
Once delivered into large scale production, the single-crystal semiconductor graphene will lay an important foundation for the transition from the silicon era to the carbon era. However, whether graphene semiconductors can lead to a breakthrough in the chip industry still needs time to test, Ma noted.
When asked how far the achievement is from industrialization, Ma said he currently cannot predict. "When it can be put into large-scale industrial applications depends on the process from millimeter-scale single crystals to inch-scale single crystals."
In a related report on January 4 by yicai.com, Ma was quoted as saying that "I estimate that it will take another 10 to 15 years before graphene semiconductors can truly be fully implemented."
Ma said that now he and his team are working hard to grow larger-sized graphene semiconductor single crystals.
In order to continue to promote the development of semiconductors, countries and regions all over the world are actively seeking new materials and paradigms in addition to two-dimensional materials. In November 2023, Huawei and Harbin Institute of Technology jointly applied for a "hybrid bonding method for three-dimensional integrated chips based on silicon and diamond." In September 2023, Japanese news outlet Nikkei reported that the Japanese startup company OOKUMA plans to commercialize diamond semiconductors, and will start production as early as the fiscal year 2026.
With the intensification of competition, the US has been increasing its export control measures on chips to China, unreasonably suppressing Chinese semiconductor companies, and attempting to "strangle" China in the semiconductor chip field.
In this context, the achievement by Chinese and American teams has attracted special attention. According to Ma, the intensification of China-US semiconductor competition has indeed had an impact on the cooperation between the scientific teams of the two countries, such as information exchange and sample exchange. However, overall, the cooperation between the two teams has been fruitful.
"Healthy competition is an important factor in promoting development, while malicious competition hinders the development of technology. I hope that cooperation is the mainstream and competition is a stimulant. With cooperation as the mainstream, appropriate competition will make scientific development better and better," Ma noted.
