According to Tokyo Electric Power Company (TEPCO), the operator of the damaged Fukushima Daiichi nuclear power plant, the first round of dumping the nuclear-contaminated water into the sea has recently been completed. TEPCO said it had released 7,800 tons of "treated" water with 1.244 trillion becquerels of tritium as planned. 

Like before, all data available this time come from TEPCO's sole source with no reference to other radioactive particles apart from tritium, nor any endorsement from any independent third parties. This ongoing self-willed practice continues to raise more questions and concerns from people living in Pacific Rim countries, about the scientific rationality of the discharge as well as the credibility of TEPCO's operation.

The Japanese authority preferred to use the term "treated water" to create the impression that the heavily contaminated water with a huge amount of radioactive particles has been dealt with properly. The only figure of tritium concentration seems low and safe judging by certain "criteria." Yet, as already has been revealed by many reports, the contaminated water contains, even after being treated, various radioactive particles such as carbon-14, iodine-129, caesium-137, among others. Exposure to these particles will have a grave impact on the cells and organs in human bodies. Without data on all the nuclides released into the sea, the result of the detection from the Japanese side has too many defects and cannot be considered scientific.  

What is more worrisome is how the data are collected and processed. Ever since the day the Japanese government made the decision to discharge the contaminated water, all the data that should help the public to make the judgment come from one single provider, TEPCO. This is the very company that is liable for the whole mess and one that doesn't enjoy a high reputation at home and abroad due to its dishonorable history of concealing accidents, delaying response and violating its commitments. 

Even on the website of the International Atomic Energy Agency (IAEA), which was said to participate in the monitoring of the discharge, the data published so far are all from TEPCO. There is no trace of any independent engagement from the international community at all. Due to the nature of the dumping, which definitely affects the whole globe, a multi-parties participation in the monitoring and supervision of this operation is imperative. Without this, the whole process could hardly be deemed as scientific.

Furthermore, the discharge of the nuclear-contaminated water is so far said to continue for at least 30 years. During such a long process, the potential risk of accidents will increase as the discharge facilities age with time. Neither TEPCO nor the Japanese government has provided any preparedness plan which should be a common practice in a long-term plan. Leaving it be and non-action is neither scientific nor responsible. In the case of this dumping operation, time won't heal but only aggravate the damage. Therefore, an independent and transparent mechanism must be established to monitor the marine ecosystem over a long period of time right from this moment.

Due to all these reasons, it is understandable and reasonable that people from neighboring countries have great concerns about the behavior that will affect the food they are eating, the environment they are living in and the way they are making a living. No one has offered them the full picture. No one has shown them the real undertone. Maybe no one dares to. So they have the right to question, to protest, and to take measures such as limiting the import of Fukushima seafood to counteract the severe impact. Even the US government, although praising Japan for its discharge by lip service, has banned the import of seafood from coastal regions in Japan that are most likely contaminated by the discharge since early this year.Using this kind of "praise" as a pretence of "support from the world" is cheating.

Disregarding the anger from those directly affected and blaming it as irrational to distort the narrative, as what the Japanese prime minister has done recently, is morally wrong. The best way to calm the wrath and concerns over the discharge is to immediately stop dumping contaminated water. As China and other stakeholders have pointed out, if the nuclear-contaminated water is truly safe, Japan wouldn't have to discharge it into the sea -  and certainly shouldn't if it's not.

Recently, I had the opportunity to explore the Liupanshan Mountain in northwest China's Ningxia Hui Autonomous Region. Shortly after departing from Yinchuan, the capital of the region, we encountered extensive stretches of solar photovoltaic panels and clusters of windmills lining both sides of the highway. 

It is worth noting that this form of power generation has emerged as a crucial economic asset for the western region.

In the past, Ningxia was known for its specialty products, such as sheepskin, wolfberries and Fat choy, but now it has become an important source of electricity for the whole country. One recently launched project is the "Ningxia Electricity to Hunan," which transmits mainly clean electricity from Ningxia to central China's Hunan Province.

The Ningxia wind and solar power transmission line spans 1634 km, from Ningxia, traversing Gansu, Shaanxi, Chongqing, Hubei, and terminating in Hunan. The project boasts a designed transmission capacity of 8 million kilowatts and a total investment of 28.1 billion yuan. 

The Western media has recently focused on rising coal-fired power projects in China. They thought this may hinder China's commitment to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

These sorts of projects in Ningxia are a clear response.

Regarding China's geography, the northwest is best suited for wind and solar projects, like the Helan Mountain region and the Tengger Desert in Ningxia. However, these areas are sparsely populated, with little industry and are far from the coastal and southeastern regions, where electricity is most needed. 

How can we ensure wind and solar power transmission remains uninterrupted?

According to a friend who works in the electricity industry, the amount of coal power generated in Ningxia has stayed the same over the past two years. However, newly constructed or renovated coal power projects are being implemented as complementary measures to ensure uninterrupted power transmission along ultra-high-voltage lines to other areas far away from Ningxia.

The project in Zhongwei city, Ningxia, which is involved in the transmission of electricity to Hunan, is to build a power photovoltaic base while at the same time bundling clean, efficient, advanced, energy-saving coal power in the neighborhood to achieve uninterrupted transmission.

A closer examination of China's grassroots efforts in transitioning to energy efficiency helps us understand why China will fulfill its promises.

Once one of the most impoverished regions in China, the Liupanshan mountainous area in Guyuan city, Ningxia, has undergone a remarkable transformation. It has emerged as a renowned scenic destination, boasting a network of bicycle paths stretching over 50 kilometers. These paths provide a convenient means for visitors to explore the picturesque landscape, meandering amidst the lush hills and serene waters.

I walked into a village snack shop and saw that the cookers had been converted into electric stoves. I asked the shopkeeper what she relied on to keep warm in winter. She mentioned that her family was preparing to use electric heaters this winter. 

The heating season in Guyuan lasts five months in winter, and while farmers used to burn wood and coal to heat their homes, they are now expanding their use of electricity, natural gas and solar energy. According to Guyuan's plan, by the end of 2024, the clean heating rate in urban areas will reach 100 percent and 60 percent in rural areas.

The shopkeeper also told me that heating with electricity or natural gas is cheaper than burning coal. According to local farmers, burning coal stoves requires at least 5 tons of coal in winter, and at an average price of 1,200 yuan per ton, it costs about 6,000 yuan; after the switch to electricity, the average monthly electricity bill is about 700 yuan. According to government regulations, households that switch from coal to electricity, coal to gas, or coal to solar energy to heat their homes receive a specific subsidy.

The changes in Guyuan are a microcosm of the world's most significant and ambitious emissions reduction program. When every village and city in China follow this plan to achieve their emissions reduction targets, China will show the world that it is not just reducing emissions but that this emerging economy is creating a new path for human development.

Next, the Chinese will prove to the world that we can not only produce the chips that the Americans are desperately trying to contain, but we can also walk a different path to sustainable development different from the 500-year expansion of the West.

of anti-China bills and established the House Select Committee on Strategic Competition between the United States and the Chinese Communist Party. Liberal and conservative think tanks have released various anti-China reports, and the media have comprehensively vilified China, which has had a great negative impact on bilateral relations.

In order to mobilize the people and society to act against China, the US government has carried out systematic anti-China propaganda. When Donald Trump was in office, he often attacked and discredited China through extreme remarks. Some senior hawkish officials and Congressmen tried their best to stage anti-China performances, and intelligence agencies and some think tank experts wantonly produced and disseminated disinformation about China. Through their "relentless efforts," China has been labeled by the US as engaging in "unfair trade practices," "stealing intellectual property rights," "genocide," "bullying neighboring countries," "authoritarian and totalitarian" and "coercing the island of Taiwan." These stigmatizing attacks on China are then spread to the whole public through American television, radio, newspapers, the internet, social media, and so on.

At the same time, the US is blocking voices from China in the country. Chinese journalists stationed in the US, the Confucius Institutes at American universities, people friendly to China, and relevant social media accounts have been labeled as "suppressing academic freedom," "infiltrating into the US" and thus been suppressed and blocked. With the tight information cocoon carefully woven by the US government, the image of China in the eyes of the American people has been severely distorted, and the negative perception of China has been continuously strengthened.

China insists on deepening reform, expanding high-level opening-up and adhering to the path of peaceful development, as well as adhering to a common, comprehensive, cooperative and sustainable security concept. It does not export ideology or engage in military expansion. It opposes bloc politics and camp confrontation, and has no intention to fight with the US in a "new cold war." On the one hand, although the Joe Biden administration expressed its willingness to engage in dialogue with China and emphasized that it would not engage in a "new cold war" with China, in its actions, it woos its allies and partners, resorts to "decoupling" and "de-risking," and engages in military containment and infiltration.

If the Biden administration is really unwilling to engage in a "new cold war," it should have stopped its anti-China mobilization. The US has entered a new election cycle. The US government has the responsibility to use pragmatic and rational voices to offset the impact of the anti-China rhetoric in the country. If the anti-China noises of extreme politicians are allowed to overwhelm public opinion, it will cause serious consequences that the entire world could not bear.

Editor's Note:  

This year marks the 10th anniversary of the Belt and Road Initiative (BRI) proposed by Chinese President Xi Jinping. Through the lens of foreign pundits, we take a look at 10 years of the BRI - how it achieves win-win cooperation between China and participating countries of the BRI and how it has given the people of these countries a sense of fulfillment.

Serbia, a country from Eastern and Central Europe, is one of the most positive examples of cooperation under the BRI framework. In an interview with Global Times (GT) reporter Wang Wenwen, Katarina Zakic (Zakic), head of the Regional Center "Belt and Road" in Belgrade, the Institute of International Politics and Economics, shared her views why Serbia is distinct. 

This is the 16th piece of the series.

GT: What do you think of the advancement and development of the BRI over the past 10 years?

Zakic: Since the beginning, it was very clear that this is something extraordinary that doesn't happen every day. We knew that it would be a huge project and huge undertaking by China, to develop it and to fund it.

We have approached the 10th anniversary. When we look at the results, they are really impressive. Regarding the investments, we are reaching the amount of $1 trillion. Who can say which other countries invested so much in one project throughout 10 years? Even many of those projects do not last 10 years. Around 40 million people worldwide do not have the burden of extreme poverty in which they were living before these projects. 

In general, China has achieved excellent results. We are impressed by the results in transportation infrastructure and especially the types of the countries in which they were conducted. Those were the countries that needed those infrastructure projects. One of the reasons that I highly appreciate throughout this project and the idea that China had behind it was that each country should nominate the project it wants to conduct. And we would very much appreciate China's assistance in those regards. We should also highly appreciate that China did not only invest in energy and transportation. It also invested a lot in health sector, in tourism, in culture, in buildings and real estate. 

GT: What makes Serbia the pillar of China-Central and Eastern Europe cooperation?

Zakic: Serbia is in Europe, but it's not an EU member. This is our strategic situation, because for many years, we are still trying to become an EU member. Our cooperation with China and the successful results are partially due to this fact that we are not an EU member, because otherwise the politics within the European Union will affect our relations with China. 

We have comprehensive cooperation with China. We have relations on very high political levels. We have signed with China the comprehensive strategic agreement. Then we have excellent cooperation on economic level, especially regarding the loans and the investments that we have, not only throughout the BRI, but also throughout the China-Central and Eastern Europe (CEEC) cooperation framework. 

Not only political and economic relations are on the high level, but also people-to-people and cultural relations are on a very high level. All these elements help Serbia become the pillar of China's projects and China's relations in the Western market. Serbia didn't have any kind of suspicions or negative reactions toward deepening our cooperation. Each government, starting from 2008, just built up that operation on even higher and higher level. We are in a way complementing each other. We respect each other's policies. Even in some cases when we have some kind of problem, for example, on economic level or regarding the investments, there was always an understanding that we should speak about that and resolve it. In this way we distinct, especially within Balkan countries.

GT: Does Serbia face any pressure from the West in its cooperation with China? What domestic factors in Serbia will promote its deep integration into the BRI?

Zakic: For 22 years, Serbia is trying to become an EU member. When you are trying to become an EU member, all your policies and strategic decisions, not only in economic sense, but also in political sense, have to be in reliance to the EU policies. Countries within the EU have very different kind of cooperation with China. Hungary and Greece have more friendly cooperation with China than Germany, even though Germany is the main partner of China within the EU.

There are concerns coming from the EU about Serbia's cooperation with China. But there are also concerns about some other parts of our journey to the EU. China is just one of the things that the EU wants in a way to change within Serbia.  

In recent years, people in our government really did have the opportunity to learn a lot about China and now they have a deeper understanding about China. Many of us nowadays do understand China in a completely different sense. It was not something that was in a way normal for them. In previous time, for example, when I went to the primary school and high school, usually the students within those levels of education learn about history coming from Europe. They do not learn so much about the Middle East or Asia. Thanks to the China-CEEC and the BRI, we have more opportunities to learn. 

Nowadays, there is a better sense of understanding between all levels of the people within Serbia to understand Chinese people and Chinese culture. For example, Chinese restaurants are very popular in Serbia and people very much like Chinese food and they use chopsticks. So this is something normal to you. But for us, it means that many things in Serbia are big change. And for example, there are more and more books about China in Serbia.

GT: A large number of Chinese companies view Serbia as a "bridgehead" to enter the European market. What do you think of this trend?

Zakic: I think that's a very wise decision. There are many advantages for the Chinese companies to be here. We are in Europe. Our geographical position is very good. But since we are not the EU member and our economy is still developing, there are many advantages for the Chinese companies to have industrial house here or service house here in Serbia. Then because we are very close to the most developed countries within the EU, it is a great opportunity for the Chinese companies to open their production companies or services here in Belgrade.

Also, Serbia is in a way bridge between the East and the West. There are many opportunities that the Serbia government is giving the foreign investors here who want to operate in our country. It's not only just for the Chinese companies. It's a general policy regarding direct investments in Serbia, but I think that many Chinese companies realized all of the benefits to come to Serbia. 

We have five Chinese companies that work in the automotive car industry. They use Serbia as a hub for production. They export all of those things to the EU market. For them, it's ideal. They are very nearby to Europe. So the transportation costs are not so high. All of these things helped those Chinese companies make a decision to come into Serbia. They have the friendly environment, good labor force, very secure political and economic environment. And they can export to the EU market. 

GT: During the G20 summit in September, the US and some other countries outlined plans for a rail and shipping corridor that would connect India with the Middle East and ultimately Europe, another counterweight of the BRI. What do you think of this plan?

Zakic: I see it in a way to counterbalance China's economic and political rise. This project is just one of the cases in which we can see that currently we have some kind of situation that we had during the Cold War, in which the former Soviet Union had very dynamic battle with the US regarding who will have more power and recognition and who will have a better economic success. Now we have that kind of thing going on between China, the US, the EU and of course India as the developing country and economy that wants to be part of this play. 

I do see this project as the competition toward the BRI. But we need to wait and see. This is just a preliminary thing. At this moment, we do not know the financial construction of the whole project. We do not know how much money it will take, who will fund it, and how it will develop. 

GT: Some European countries, following the US, have been calling to de-risk from China. What do you think of this move?

Zakic: The US had a specific situation for many years being one global superpower. And it lasted for long. They had a very clear situation that there was not a power that would become in some periods of time economically and militarily strong to question the US position in this world.

When China started to rise, they were very aware that the Chinese economic development is very strong and very fast. But they were not in a way aware that China would become such a global political and military power as well. When you are no longer No.1, or somebody is questioning your position as a No.1 power in the world, of course that power would always try to use all tools and means to question the other part.

I see this part of political narrative of de-risking as a part of the US trying to still be the No.1 power in the world. At this moment, de-risking is just a part of the narrative to in a way encourage other countries not to cooperate with China so much and to questions China's position in everyday world. Some countries in Europe do try to use it as a term to become not so dependent on China and change this situation to be more self-sufficient. I see it as really a political narrative to destabilize China's position, not only in international politics, but also international economics.

A recent nine-day visit to Xinjiang in September 2023 by 22 foreign journalists from 17 overseas media organizations reported favorably on the vibrant local economy and China's efforts to preserve the local traditional and diverse cultures.

Instead of ending the flood of lies in the US media about Xinjiang, a US State Department agency, the Global Engagement Center, attacked this fact-finding visit, the visiting journalists and also China. This US agency released a 58-page report warning that China's information campaign on Xinjiang "could sway public opinion and undermine US interests." The US corporate media dutifully picked up the report and spread it. 

An AP news story "The US warns of a Chinese global disinformation campaign that could undermine peace and stability" used quotes from other government-funded organizations to reinforce its lies. This included Freedom House, which is 90 percent funded by US federal grants. 

The anti-war movement in the US is aware of the media's role. At a recent rally in front of CNN News followed by a march through busy Times Square to the New York Times media conglomerate, the resounding chant was: "Corporate media, we can't take lies anymore! Stop your drumbeat for war." This reflected the growing rage at the role of the largest media conglomerates in promoting militarism and racism. 

"Repeat a lie often enough and it becomes the truth." This comment, attributed to Nazi propagandist Joseph Goebbels, is obvious in how news coverage in the US is organized today. Sometimes this leads even well-meaning people astray. They might say that "I've heard so often that there is slave labor and genocide of the Uygur Muslim people in Xinjiang, so it must be true."

I've held a series of talks and interviews with different audiences describing the diversity of cultures, modern cities and new farming techniques in Xinjiang, which I visited this May. My comments were greeted with a mixture of interest, curiosity and a frustrated suspicion from the US media, which have continually lied in the past and demonized a targeted country to justify each war.

In discussing my visit to Xinjiang, I often begin by asking an audience not to take only my short visit as the basis for their understanding of conditions in Xinjiang. It is more important to ask why no Muslim country has ever backed up the charges of genocide in Xinjiang, charges that the US government, its politicians, as well as talking heads in the media repeat endlessly. 

A visit by the Organization of Islamic Cooperation with 57 member states and later a delegation from the Arab League praised the Chinese government's policies and the harmonious relations and respect for the religion and culture of the people that they observed.

The June visit by the delegation from the Arab League was immediately denounced by the VOA. The VOA is a US government-owned news network that produces digital, radio and TV content in 48 languages and distributes it internationally. This response exposes how threatened the US is of a different view of China reaching people around the world. 

The media industry in the US is privately owned by a handful of billionaires. These media conglomerates combine advertising, broadcasting and networking, news, print and publication, digital, recording, and motion pictures, and most have international reach.

The most dangerous aspect of this web that seeps into every area of conscious life is that the media is intermeshed with the top US military corporations.  

All of the military corporations are also privately owned capitalist corporations. Their survival is based on enormous, government subsidized military contracts. Military corporations make the highest rate of profit with the highest returns to stockholders.   

This reality means that the corporate media functions as the public relations arm of the military corporations. The media's task is to sell war, and to justify war.   

The media in turn works with the well-funded think tanks who strategize, provide reports and talking points to the media and to the politicians - Republican and Democrat alike - who vote for ever increasing military budgets.  

This message is reinforced by continual claims that the media in other countries is controlled, combined with constant reassurances that a "free press" exists in the US. 

The US media focus on Xinjiang has a dual role. It is attempting to ingrain deep hostility toward China because the US corporate rulers fear China's growing economic strength and its attractive trade and development plans.  

The US media is also attempting to deflect attention away from the massively destructive US wars against Muslim people in Afghanistan, Iraq, Libya and Syria, by claiming concern for Muslims in Xinjiang. China is showing the reality by inviting increasing numbers of visitors to see Xinjiang for themselves.

For those Western media outlets that seem to be concerned about "China setting back efforts to cut climate-changing carbon emissions," it is strongly advised that they look at the opening ceremony of the Hangzhou Asian Games on Saturday night. Anyone who has basic knowledge of the various applications of low-carbon technologies at the 19th Asian Games in Hangzhou, East China's Zhejiang Province can see why there is every confidence that China will deliver on its promises of meeting carbon peak and neutrality targets.

Why? Because China's efforts to reduce carbon emissions are not simply aimed at reducing the use of fossil fuels but also include efforts to drive the development of green and low-carbon technologies through innovation. 

It's precisely because of the extreme application of low-carbon technologies that China has made the Hangzhou Asian Games a model in terms of pursuing carbon peak and neutrality goals.

For instance, the spectacular opening ceremony on Saturday night saw the use of zero-carbon methanol, which is regenerated from waste carbon and achieves zero emissions, as fuel for the main torch tower for the first time, according to Chinese media reports.

The use of low-carbon, green fuel is not only part of the drive to create the first carbon-neutral Asian Games but also shows China's determination and commitment to low-carbon and innovation-driven green development.

For some time, Western media outlets have been questioning China's decision to build more new coal-fired power plants, citing fears over whether China is setting back efforts to cut carbon emissions due to economic reasons. The main reason for their worries is the belief that decarbonization cannot coexist with economic development. Yet, accomplishing the carbon peak and carbon neutrality goals doesn't necessarily mean that China needs to disregard its national conditions and give up on economic development.

China has never slackened in its pursuit of the carbon peak and carbon neutrality goals. If anything, the Asian Games this time is a clear example of China's seriousness about green development. 

Green is the premium color of the Hangzhou Asian Games, which will become the first such games in history to realize 100 percent green electricity supply at all of the 65 venues and related facilities. Green electricity, which refers to zero or nearly zero carbon emissions in power generation, comes from the province's offshore wind and photovoltaic installations, as well as the central and western regions including Northwest China's Xinjiang Uygur Autonomous Region, Qinghai Province and Gansu Province.

China has the world's largest number of renewable energy construction projects, so the share of coal-fired power generation in overall energy consumption has been falling. Even when it comes to the construction of new coal-fired power plants, which has raised questions, China has been improving the low-carbon technology to reduce emissions from new coal power plants in terms of both pollutants and carbon emissions.

More importantly, China has been prioritizing the development of low-carbon technologies in terms of the utilization of renewable energy or improvement in energy efficiency, among others. This is because the development and application of innovative technologies must be essential to achieving economic development while ensuring the accomplishment of carbon emissions reduction goals. Only through the development of new technologies can the achievement of carbon emission goals be reconciled with the main objective of promoting China's economic development, not being set aside in separate approaches.

Chinese experts have criticized Germany's decision to cease granting promotional loans to China and deny China's developing country status, calling it a move that succumbs to pressure from the US' cold-war mentality toward China. They warn that Germany risks undermining its own economic interests and damaging the investment confidence of European enterprises in China.

Germany will no longer grant promotional loans to China from 2026 and no longer treat China as a developing country, the Federal Development Ministry (BMZ) confirmed on Tuesday. 

The German ministry said it has informed the Chinese Ministry of Finance in mid-September of the federal government's decision to permanently stop granting promotional loans to China, Reuters reported.

"We are no longer treating China as a developing country," German Development Minister Svenja Schulze said. "China is and remains an important partner, without whom we cannot successfully overcome global crises," she added.

The move reflects some German politicians' alignment with the US in strengthening "decoupling" from China and creating economic and trade barriers aimed at the country, Chen Jia, an independent analyst on global strategy, told the Global Times on Wednesday.

Under this Cold War mentality, Germany's push to implement a decoupling policy is not beneficial to EU-China cooperation, Chen noted.

Song Wei, a professor at the School of International Relations and Diplomacy at Beijing Foreign Studies University, said Germany's decision to cease granting promotional loans to China and deny China's developing country status was primarily influenced by US attempts to strip China of its developing country status.

For some time, the US has attempted to deprive China of its developing country status, which has been slammed by Chinese officials.

China's status as the world's largest developing country is rooted in facts and international law. It's not up to the US to decide whether China is a developing country, Chinese Foreign Ministry Spokesperson Wang Wenbin said at a press conference in June.
China's status as a developing country is supported by concrete facts. China's per capita GDP in 2022 was $12,741, or one-fifth of that of advanced economies and only one-sixth that of the US. 

The move by Germany will create an atmosphere of uncertainty, hinder the growth of bilateral trade and investment, and dampen the investment confidence of European business in China, experts said.

China and EU just concluded productive talks during the 10th High-level Economic and Trade Dialogue, with the two sides reaching multiple consensuses, China's Ministry of Commerce said in a statement on Tuesday.

Both sides agreed to further promote the two-way opening of the financial industry and encourage eligible financial institutions to invest and expand their business in each other's markets. 

In the context of a global economic downturn, Germany's cancellation of promotional loans will dampen the investment confidence and expectations of European enterprises in the Chinese market, which is not conducive to the deepening economic and trade cooperation between China and Europe, Song said.

From 2013 to 2022, promotional loans with a total volume of 3.451 billion euros ($3.62 billion) were agreed upon with China. No promotional loans were granted in 2023, according to the Reuters report.

Cui Hongjian, a professor with the Academy of Regional and Global Governance with Beijing Foreign Studies University, told the Global Times that these loans primarily support projects related to infrastructure, climate change, environmental protection, and sustainable development. The advantage lies in their relatively fixed and extendable repayment period, as well as the relatively favorable interest rates compared to market rates. 

Cui said that in the future, there may be a shift toward more commercial cooperation rather than policy-driven projects. Additionally, this change may not have a significant impact on large-scale projects, as the Chinese side has sufficient financial capacity for investment, Cui said.

China's major industrial firms saw their profit surge in August, reversing the downward trend and increasing by 17.2 percent from a year earlier, the latest sign of sustained recovery in the world's second-largest economy as stimulus kicks in.

The robust industry growth, which marks the first increase since the second half of 2022, may pave the way for a full rebound as a slew of economic indicators are also pointing to a positive consumption trend during the upcoming Golden Week holidays, observers said.

With consumption and manufacturing activities all in full swing, the domestic economy is expected to ride on the fast track of stabilizing growth, though challenges remain, they noted.

In the first eight months of the year, the profits of major industrial firms with annual main business revenue of at least 20 million yuan ($2.79 million) reached 4.66 trillion yuan, down 11.7 percent year-on-year, with the pace of decline narrowing by 3.8 percentage points from the first seven months, according to data released on Wednesday by the National Bureau of Statistics (NBS).

Of the 41 industrial categories monitored by the bureau, 30 posted better performance in terms of profit during the January-August period, with the losses in raw material manufacturing industry narrowing significantly due to rising commodity prices and recovered demand.

As the country's pro-growth policies continued to show their impact in August, industrial production saw a steady recovery, with the improvement in industrial profit gathering momentum, said NBS statistician Yu Weining.

Profit growth for equipment manufacturing was 3.6 percent for the period, growing from the 1.7 percent registered during the first seven months and leading the overall improvement, Yu said, noting that all business entities recorded better performance.

The reversal in August, reflecting that the overall operating conditions of the industrial sector are improving, was mainly driven by the rebound in market demand, improved prices of industrial products, the effects of macro-support policies, and the low base in 2022, Zhou Maohua, an economist at Everbright Bank, told the Global Times on Wednesday.

The rebound was in line with the momentum of China's official manufacturing purchasing managers' index (PMI) for August, which came in at 49.7, up 0.4 points from the previous month.

A reading below 50 indicates a contraction, while one above 50 indicates expansion.

"The recovery of the PMI represents stable market confidence and projection, and enterprises' profit recovery is the real consequence, which shows that the general situation is improving," Cong Yi, professor at the Tianjin University of Finance and Economics, told the Global Times on Wednesday.

All multiple indicators are upbeat signs for the country's overall economic recovery, and also reflect that a series of supportive measures have taken effect, Cong said.

Notably, in the first eight months of 2023, profit of the electricity, heat generation and supply industry surged by 53.4 percent year-on-year, and profits for electrical machinery and equipment manufacturing increased by 33 percent year-on-year. In addition, profit of auto manufacturing increased by 2.4 percent year-on-year.

NBS data also showed that profit of enterprises in the metal, mineral processing, and energy extraction sectors suffered a decrease, while the profits of coal extraction and washing enterprises declined by 26.3 percent year-on-year, and the profit of chemical raw material and production manufacturing enterprises declined by 51.1 percent.

Structural adjustment of China's industrial enterprises growth is ongoing, and it's a vital period now for shifting the country's economic drive force from traditional industry to emerging sectors, Cong said.

Nevertheless, some domestic industrial manufacturing industries are still in the destocking stage, Zhou said, noting that problems such as insufficient market demand and high cost pressures still pose difficulties for company operations. 

"Domestic macro policy support cannot be relaxed," Zhou said.

Chinese authorities have stressed stronger and more precise measures to bolster the recovery over the past months. In a fresh move on Wednesday, China's central bank said at a quarterly meeting that it would step up policy adjustments and implement monetary policies to expand domestic demand and restore confidence.

During the meeting, the bank emphasized the need to intensify the implementation of existing monetary policies, enhance counter-cyclical and cross-cyclical adjustments, and focus on boosting domestic demand and restoring confidence.

In light of the current domestic and international economic situation, the bank noted that "the current external environment has become more complex and challenging," with inflation remaining high and developed countries expected to maintain elevated interest rates. Additionally, it acknowledged that "the domestic economy continues to recover and improve with strengthened momentum, but still faces challenges such as insufficient demand."

Globally, downward pressure on the world economy has been intensifying. 

According to a Reuters report citing an S&P Global survey, business activity in the US, the world's largest economy, showed little change in September, with the vast services sector essentially idling at the slowest pace since February, and overall new order activity slipping to the lowest level in 2023.

On a recent summer afternoon in Tashkent, capital of Uzbekistan, there were very few people on the streets, and traffic was relatively light. Such a sight hardly showed any sign of a rapidly shifting global geo-economic landscape.

Yet, a closer look revealed a very interesting dynamic: While a vast majority of the cars on the streets are older sedans carrying the golden cross logo of US carmaker Chevrolet, newer, futuristic ones are often new-energy vehicles (NEVs) produced by Chinese carmaker BYD. The slogan - Build Your Dream - was a distinctive feature on the back of each BYD cars.  

Such a dynamic is expected to become even more significant not just on the streets of Tashkent, but also those of other cities around the world. Last month, BYD and Uzbekistan signed an investment agreement to build a factory for NEVs in the country. Globally, China has become the world's biggest auto exporter and 60 percent of the world's total NEVs are produced and sold in China. 

The rapid rise of China's NEV sector globally is a microcosm of the success of China's industrial upgrade and high-quality development. Recently, as some indicators fell short of sky-high expectations for China's economic recovery this year, some Western officials and media outlets continue to relentlessly hype up the short-term fluctuations in an attempt to smear the Chinese economy. However, such smear completely ignores the achievement of China's industrial upgrade and its pursuit of high-quality development - which has not only seen major progress but also shown vast potential for long-term, sustainable growth that will contribute greatly for the world economy, Chinese officials and economists said. 

Still, China's NEV industry did not rise to its global leading position without a lot of hard work and focus. Industrial transformation and upgrade often come with pain. At a ceremony marking the production of the 5 millionth NEV, Wang Chuanfu, founder of BYD, choked up a few times, as he recalled the hardships the company has faced over the years, including facing bankruptcy at one point. BYD is hardly the only Chinese company that has faced and ultimately overcome such hardships. 

SAIC Volkswagen, a Chinese-German joint venture, represents a typical case. The company had been the industry leader for years in the field of fossil fuel cars. But in 2018, as sales of traditional fossil fuel cars plunged, China's auto industry saw its first ever negative growth, and SAIC also saw major drops in sales and profits. The company started its transition toward NEVs.

"Market choice has pointed toward a clear path. Even if there will be pain, we must closely follow the NEV trend," an executive from SAIC was quoted as saying by the People's Daily.

With that, the company shut down a 40-year-old factory, and invested 17 billion yuan in building a new plant that can produce 300,000 NEVs annually. The company also stepped up spending in research and development (R&D), with industry leading investment despite financial challenges. The result: Starting in July, sales of the company's ID NEVs surpassed 10,000 units for two consecutive months, leading sales of other NEVs produced by joint ventures. And the company continues to invest heavily in NEVs in the second half of 2023. 

Such successful stories of transformation are shared by many other Chinese carmakers. Together, they represent the rise of China's auto industry, with leading production, sales as well as innovations. And the rise of China's industry also reflects China's overall industrial transformation and upgrade, which often encounters challenges but ultimately translates into high-quality development - the central goal of the Chinese economy. 

In a speech at a reception to celebrate the 74th anniversary of the founding of the People's Republic of China on September 28, Chinese President Xi Jinping stressed that to achieve high-quality development, the country must fully and faithfully implement the new development philosophy in all aspects, and accelerate the development of a new development paradigm. Xi also pointed out that the economic recovery is picking up pace, contributing to the steady advancement of high-quality development, the Xinhua News Agency reported.

Comprehensive view on GDP 

In the first half of 2023, China's GDP grew by 5.5 percent, prompting many speculations and even dire predictions about the Chinese economy.

Is such a growth rate high or low? To answer this question, a comprehensive look at the new addition and the quality of growth, instead of just speed, is necessary. 

"As the world's second-largest economy, a 1 percent growth today is vastly different from that of the past in terms of absolute increment," said Wang Xiaosong, a professor of economics at Renmin University of China in Beijing. In 2022, China's GDP stood at about $18 trillion, the increment from a 1 percent growth rate is equivalent to that of 2.1 percent growth rate 10 years ago - and that of 5.3 percent growth rate in India. 

Moreover, a 5.5 percent growth rate is faster the 3 percent growth rate in 2022 and the 4.5 percent growth rate in the first quarter of 2023 and is the fastest growth rate among major economies. The growth rate is also in line with China's official growth target of about 5 percent in 2023. While many had expected a restorative economic recovery in China, the fact is that over the past three years, the global economy has been deeply troubled by the COVID-19 pandemic and the still ongoing Ukraine crisis. Like the world economy, China's economy also goes through a recovery process and a 5.5 percent growth rate is hard-won.

"You can't expect an athlete to break the 100-meter sprint record, while his body is still recovering," said Wang Changlin, vice president of the Chinese Academy of Social Sciences, told the People's Daily.

In terms of quality, the 5.5 percent growth rate in the first half of 2023 was led by consumption and investment, instead of investment and exports in 2022. It was also driven by innovation and new growth models. In the first half of the year, the added value of information transmission, software and information technology services jumped by 12.9 percent, while online retail sales of physical goods grew by 10.8 percent. The real growth rate of per capita disposable income of residents across the country was 5.8 percent, significantly faster than that of 2022. China has not just achieved stable growth but also ensured the security of food, energy and industrial and supply chains. 

"One of the highlights of China's economy this year is that the security and sustainability of economic development have been significantly enhanced," Wang Xiaosong said, noting that China's economy is currently very resilient and will continue to maintain the healthy and stable growth.

While some headline figures for areas such as exports, investment, employment and corporate profits were less than impressive, there are also many highlights. In the first half of the year, China's exports to countries participating in the joint construction of the China-proposed Belt and Road Initiative saw a double-digit growth, combined exports of NEVs, lithium batteries and solar cells jumped by 61.6 percent. In the first eight months, China's auto exports soared 104.4 percent, and ship exports increased by 28 percent. 

"With the continued effect of a series of policy measures, we have the confidence, foundation and conditions to achieve the goal of promoting stability and improving the quality of imports and exports," said Lü Daliang, a spokesperson with the General Administration of Customs, during a press conference in July. 

In terms of investment, in the first half of the year, total fixed-asset investment increased by 3.8 percent year-on-year, with private investment dropping 0.2 percent. However, excluding real estate investment, private investment jumped by 9.4 percent during the same period. China has also taken a slew of measures to stabilize the real estate market. 

Vast potential

"Based on international experience, after an economy reaches a certain scale, industrial upgrading and transformation and development are generally accompanied by short-term slowdown. While accelerating structural adjustment, transformation and upgrading, China's economy has achieved effective qualitative improvement and reasonable quantitative growth, which is extremely difficult," Yang Changyong, a senior researcher from the Chinese Academy of Macroeconomic Research, told the People's Daily. 

Yang said that the Chinese economy can make new breakthroughs and reach new heights if the advantages of the vast domestic consumption are fully leveraged, greater efforts are made in adjusting growth models and structures and boosting growth engines, and a powerful and resilient domestic economy is established. 

China also has the institutional advantage of being a socialist market economy, sufficient macro policy tools and adjustment room, and abundant means and measures to prevent and tackle risks, which ensures long-term stability of the Chinese economy despite challenges, according to Wang Changlin.

The bright prospect of China's high-quality development is also reflected in the steadfast efforts by companies such as BYD and SAIC Volkswagen to transform and innovate. With their advanced technologies and high-quality products reaching every corner of the globe, the world will feel and benefit from China's high-quality development. 

Wu Qiuyu, Zhao Zhanhui and Liu Shiyao are People's Daily reporters; Wang Cong is a Global Times reporter.