Jury panel for short films at BJIFF hails diversity of entries

At the 14th Beijing International Film Festival, the jury for the short film section commended the quality and diversity of this year’s entries. Led by veteran film producer Peggy Chiao, along with actress Jiang Qinqin, actor Zu Feng, and other esteemed panel members, the jury unveiled their judging criteria at a press conference.

02:05

Short films have long played a pivotal role in the film industry, nurturing emerging talent and fostering innovative storytelling. The ReelFocus Program within the short film section is dedicated to discovering new talent adept at crafting impactful narratives within limited timeframes.

Veteran producer Peggy Chiao said it was a challenging task to select this year’s winners, given the exceptional quality and variety of themes explored in the submissions. She noted the breadth of artistic expression on offer, ranging from works of mature technical skill to those with experimental or traditional elements.

Scriptwriter Chen Yu emphasized the increasing importance of short films in a digitalized society, citing their potential to resonate with younger audiences across a wide range of platforms. He highlighted the shift in perception towards short films, emphasizing the importance of content and emotional resonance over the duration of the films.

Initiated in 2022, the ReelFocus Program aims to identify and support talented student creators and provide a platform for their professional development as directors.

Chongqing Library expert educates students in book restoration techniques

Xu Tong, an ancient book restorer from Chongqing Library in Southwest China’s Chongqing, teaches students how to bind traditional Chinese thread-bound books at Chongqing University. [Photo provided to chinadaily.com.cn]

Chongqing University, in Southwest China’s Chongqing, hosted an ancient book restoration fair on Sunday to celebrate this year’s World Book Day, which falls on Tuesday.

The university invited Xu Tong, an ancient book restorer from Chongqing Library, to campus to teach students how to bind traditional Chinese thread-bound books.

According to Xu, there are approximately 530,000 ancient books in the Chongqing Library, many of which have endured weathering and insect damage during long-term circulation and preservation — especially in a city with a humid climate like Chongqing.

She joked she and the other 10 ancient book restorers at the library would need more than two lifetimes to restore the library’s collection completely.

She noted that although many higher institutions in the country offer courses related to her industry, there is still a large talent gap. “I hope more college graduates will engage in ancient book restoration in the future,” she said.

Beijing’s Fengtai district unveils first private tech innovation center

Beijing’s first private enterprise technology innovation center was unveiled on Tuesday in Fengtai district. [Photo provided to chinadaily.com.cn]

Beijing’s first private enterprise technology innovation center was unveiled on Tuesday in Fengtai district. The center provides a 100,000-square-meter industrial and service space for private technology enterprises, aiming to foster the development of new quality productive forces and nurture cutting-edge industries.

In recent years, Fengtai has engaged with partners in fields such as rail transportation, aerospace and the digital economy, attracting 600 enterprises to its fold, according to the district government.

Wang Shaofeng, Party secretary of the Fengtai district, expressed the district’s commitment to serving the capital’s functions and promoting integrated urban-industrial development.

He stated that Fengtai will continue to make progress in various sectors to accelerate high-quality development.

Future and modern industries are two key areas on which the district focuses. The satellite internet industry park, located in the Fengtai Science and Technology Park, spans approximately 100,000 square meters and focuses on the development of satellite application industries, including communication, navigation and remote sensing.

The industrial park aims to attract more partners and establish a new commercial aerospace industry hub.

Meanwhile, the Beigong low-altitude economic industrial park in Fengtai’s Beigong Town is set to release around 2 million square meters of industrial space gradually.

Leveraging Fengtai’s aerospace and rail transportation industry clusters, the park will prioritize the top-level design, research and manufacturing of products such as drones and flying cars.

As one of Fengtai district’s nine key signed projects, the largest JD home appliance mall in the country, invested by JD Group, is poised to settle in the district.

Spanning around 70,000 square meters of retail space, it will include trendy home appliances, home decor, entertainment and outdoor sports, offering consumers a comprehensive “one-stop home” shopping experience.

According to district government data, in 2023, Fengtai’s regional GDP was 218.75 billion yuan ($30.18 billion), a 6.5 percent increase from the previous year.

Fixed asset investment reached 78.49 billion yuan, marking a 19.6 percent year-on-year growth. The district’s market vitality continued to surge, with 21,300 new market entities established, a 32.2 percent year-on-year increase.

Tourists gravitate to color floral seas throughout China

Visitors enjoy peony flowers at the Jingshan Park in Beijing on April 22, 2024. [Photo/VCG]

Tourists are drawn to the colorful floral scenery across China as spring is in full bloom. Peony blossoms of different colors adorn parks in Beijing and Henan province. Purple bluebonnets in Kunming, Yunnan province, and pink cherry blossoms in Changchun, Jilin province, also attract many visitors.

Strengthening bonds through film

Illustration: Chen Xia/Global Times

Illustration: Chen Xia/Global Times

In celebration of the 50th anniversary of establishing diplomatic relations between China and Brazil in 2024, the 14th Beijing International Film Festival (BIFF) has taken a significant step toward enhancing cultural exchanges and cooperation between the two countries. 

By inviting Brazil as the Guest of Honor and hosting a series of collaborative events with the Brazilian Embassy in China, the film festival aims not only to deepen the comprehensive strategic partnership between China and Brazil but also to elevate its international influence.

During the ongoing festival, the ­Brazil Film Week showcased four outstanding Brazilian films, namely
Mars One,
Pictures of Ghosts,
The Second Mother, and
History of Love and Fury, to Chinese audiences, offering them a glimpse into Brazil’s rich cinematic landscape. 

Meanwhile, renowned Brazilian animator Carlos Saldanha served as an international judge for the prestigious Tiantan Awards.

Cassius Rosa, Brazil’s vice minister of culture, told the Global Times in a one-on-one interview that the four Brazilian films show a rich diversity of genres and that he hopes that Chinese moviegoers can enjoy them while gaining insight into Brazil.

He emphasized the role of cinema as a powerful medium for strengthening mutual understanding and cultural exchanges between nations, and said that Brazil also actively promotes Chinese films in various cities. 

He noted that Chinese kung fu action films, along with ­historical and comedic genres, are highly popular among Brazilian audiences. 

This reciprocal exchange of cinematic experiences reflects the mutual interest and ­appreciation between the two countries.

In addition to showcasing Brazilian films in China, the cultural exchange event extends to Brazil, with the Chinese Film Festival opening in Rio de Janeiro on March 22 and the annual Sao Paulo Chinese Film Festival featuring a diverse selection of Chinese films. 

Such initiatives demonstrate the growing collaboration in the film ­industry, supported by bilateral ­agreements and partnerships between China and Brazil.

In recent years, under the vigorous promotion of both governments, film and television cooperation between China and Brazil has deepened. 

In September 2017, the two countries signed their first film co-production agreement. During Brazilian President Luiz Inacio Lula da Silva’s visit to China in April 2023, the two countries signed an agreement on television cooperation production. 

Films co-produced by Brazilian and Chinese companies will enjoy national treatment in the two countries, benefit from existing public funding mechanisms, and be regarded as national products in their respective markets.

On Friday, at a forum for exchanges between Chinese and foreign filmmakers, representatives from the BIFF and the Rio de Janeiro International Film Festival signed a memorandum of cooperation. 

They agreed to establish mechanisms to encourage mutual visits, conduct discussions and field research, and establish mechanisms for ­recommending films to each other, enhancing cooperation and exchange in the film industry between the two countries.

On Sunday, Rosa, accompanied by officials from the Brazilian film ­community delegation, visited the State Production Base of the China Film Group in Beijing’s Huairou district. 

During the visit, they toured the post-production sound and video department, LED virtual studio, and outdoor shooting locations, gaining a detailed understanding of the facilities and technology at the hub of China’s film production industry.

During the discussions, Rosa introduced the recent situation of Brazil’s film industry and inquired about the current requirements for importing foreign films into China. 

While expressing great expectations for cooperation, he announced the decision to invite a delegation of Chinese filmmakers to Brazil for in-depth exchanges in the near future. 

He also hoped that through film screenings, film imports and exports, co-productions, and other means, both countries can enhance cultural ­exchanges and mutual learning, continuing the friendship between China and Brazil.

“By continuously deepening cultural exchanges between the peoples of both countries, we can promote mutual understanding and use this as a driving force to expand economic and trade exchanges into multiple areas,” Rosa said.

The year also marks the one-year anniversary of the China-proposed Global Civilization Initiative. 

Rosa told the Global Times that besides films, the two countries also have a large potential for cooperation in other cultural fields, including literature, dance and the circus.

As film serves as a vital bridge for communication between nations, the exchange of film cultures between ­China and Brazil paves the way for ­mutual learning and industry development. By leveraging the power of film, both countries can strengthen cultural bonds, enhance mutual respect, and foster lasting friendship. 

The author is a reporter with the Global Times. [email protected]

Azerbaijan hoping to attract more Chinese investors amid closer economic relations

Azerbaijani people gather to celebrate Nowruz in Baku, capital of Azerbaijan, March 19, 2023.(Photo: Xinhua)

Azerbaijani people gather to celebrate Nowruz in Baku, capital of Azerbaijan, March 19, 2023.(Photo: Xinhua)

 

Azerbaijan hopes to attract more Chinese investors as the country is pursuing sustainable development and green transformation, as well as greater transport connectivity and other economic goals under the China-proposed Belt and Road Initiative (BRI), officials from Azerbaijan said at the Azerbaijan Investment and Trade Promotion Conference held at the Embassy of Azerbaijan in Beijing on Tuesday.

Over a hundred representatives from relevant departments, enterprises, and industry groups from both China and Azerbaijan attended Tuesday’s promotional event, focusing on areas including mining, agriculture, tourism, logistics and transportation, showing the diverse bilateral cooperation between the two countries.

Speaking at the event, the Ambassador of Azerbaijan to China Bunyad Huseynov said that Azerbaijan is China’s biggest trading partner in the South Caucasus and his country attaches great importance to the expansion of economic and trade relations with China. 

The two countries are diversifying economic cooperation to various sectors including transport and logistics, agriculture, and other areas. “China’s advanced experience and technologies in the field of alternative energy are of particular interest to our country,” the ambassador said.

Azerbaijan was one of the first countries to support the BRI, which has become a key driver of economic and trade development not just with China but beyond. This joint initiative is not only an economic and communication project, but also stimulates the global economy by expanding relations between peoples, improving infrastructure, deepening trade relations, and strengthening transport and infrastructure projects, the ambassador said at the event.

Azerbaijan, located at the vibrant crossroads of Europe and Asia, offers numerous investment opportunities across various sectors, Zohrab Gadirov, deputy executive director of the Export and Investment Promotion Agency of Azerbaijan (AZPROMO), said at the event. More Chinese enterprises are welcome to invest in Azerbaijan for a win-win outcome, Gadirov said.

During his trip to China, Gadirov is hoping to build closer ties with Chinese businesses, as they are becoming increasingly important in the country’s economic development.

According to data from Azerbaijan’s State Customs Committee, China-Azerbaijan bilateral trade reached $3.1 billion in 2023, a year-on-year increase of 43.5 percent, with both imports and exports seeing double-digit growth. China remained Azerbaijan’s fourth largest trading partner. 

China also became Azerbaijan’s second-largest source of imports for the first time, ahead of Turkey, and accounting for 17.5 percent of the country’s total imports. 

In addition to the surging demand for goods between China and Azerbaijan, the country’s strategic geographical location also positions it as a critical transportation hub for the China-Europe freight train. The demand for the cargo train has seen a significant increase thanks to its competitive advantages as a reliable transportation tool, particularly following the Red Sea crisis, which resulted in a substantial extension of transportation time and costs for sea voyages.

Azerbaijan plays a crucial role in the trans-Caspian international transportation corridor, serving as a dynamic new market at the crossroads of Europe and Asia. It’s not only a vital node in the BRI but also a significant gateway for Chinese enterprises to access the markets of the Caucasus and the EU, said He Zhenwei, head of the China Overseas Development Association.

Since the beginning of this year, China has been the largest source of imports for Azerbaijan for two consecutive months, reflecting strong development momentum, according to He.

There is still room for further growth in trade between the two countries, He said.

Lightning strikes Canton Tower 6 times in one hour

00:17

Lightning struck the Canton Tower in Guangzhou City, south China’s Guangdong Province, six times between 7 p.m. and 8 p.m. on April 20. The tower actively guides lightning and directs it underground to protect people and structures from the lightning. Check out this mind-blowing scene!

GT Investigates: As Solomon Islands votes, allegations of US interference highlight struggle of developing countries to forge independent foreign policy

Editor’s Note:

“Cognitive Warfare” has become a new form of confrontation between states, and a new security threat. With new technological means, it sets agendas and spreads disinformation, to change people’s perceptions and thus alter their self-identity. Launching cognitive warfare against China is an important means for Western anti-China forces to attack and discredit the country. 

Some politicians and media outlets have publicly smeared China’s image by propagating false narratives in an attempt to incite and provoke dissatisfaction with China among people in certain countries. These means all serve the seemingly peaceful evolution of the US strategy to contain China’s rise and maintain its hegemony.

The Global Times is publishing a series of articles to reveal the intrigues of the US-led West’s China-targeted cognitive warfare, and expose its lies and vicious intentions. 

This is the 13th installment in the series. As the Solomon Islands’ general elections unfold, allegations of US interference surfaced before the voting began. Experts have highlighted the US’ habitual practice of interfering in the domestic affairs of other countries and attempting to exert its pressure on developing nations like the Solomon Islands that seek to forge friendships and pursue development opportunities with China.
 

A voter casts his ballot during the Solomon Islands' elections in the capital Honiara, on April 17, 2024. Photo: VCG

A voter casts his ballot during the Solomon Islands’ elections in the capital Honiara, on April 17, 2024. Photo: VCG

The ongoing election in the Solomon Islands has garnered significant global attention, particularly amid the geopolitical dynamics of the Pacific. This electoral event has especially piqued the interest of the US, accompanied by various allegations and concerns regarding potential US intervention.

The voting of general elections in the Solomon Islands was hosted on April 17. Currently, no party has won a majority of seats in the Solomon Islands’ parliament election, CGTN reported Monday, quoting local media, citing 90 percent of counted votes.

Preliminary results from Saturday indicate that Solomon Islands Prime Minister Manasseh Sogavare has successfully retained his seat in Parliament. However, it will take several more days of vote tallying to determine if his party, Our Party, will form the next government. 

During this period, there has been continuous news and extensive reporting by media outlets, suggesting that the US may be trying to intervene in the Solomon Islands’ elections. 

Analysts point out that the US and its allies appear to be using “color revolution” tactics to infiltrate the political landscape of the Solomon Islands, emphasizing that the island country should have the sovereign right to choose its own developmental path. 

Meanwhile, as China enhances its cooperation with Pacific Island countries, the US continues to assert its supposed superiority, an approach that appears not to resonate with the island populations, they said. 

How has the US been attempting to exert its influence?

A recent investigative article by Russia’s Sputnik news agency criticized the US’ role and intentions in the upcoming elections in the Solomon Islands. The report suggested that the US Agency for International Development (USAID) might be attempting to influence the election outcome through “democracy promotion” activities, in order to counter China’s influence in the region.

The report highlighted concerns over the security agreement between the Solomon Islands and China, which has alarmed the US and its allies who fear it could compromise the US’ “island chain strategy” in the Pacific.

The article detailed USAID activities in the Solomon Islands, including engaging with local community political leaders, civil society organizations, and influential individuals, as well as funding surveys and training programs to bolster anti-government sentiment.

An anonymous source disclosed to the Sputnik news agency that they fear the US might incite another riot during the upcoming election to achieve its geopolitical goals.

Meanwhile, according to a report from the Covert Action Magazine earlier this month, the USAID actively intervenes in the electoral processes of other countries through its Consortium for Elections and Political Process Strengthening (CEPPS), aiming to promote regimes that align with American interests.

The CEPPS collaborates with organizations such as the International Republican Institute (IRI), the National Democratic Institute (NDI), and the International Foundation for Electoral Systems (IFES), all of which have close ties with USAID, with the NDI and IRI having been created by the National Endowment for Democracy (NED), which is considered a branch of the Central Intelligence Agency (CIA).

According to Yu Lei, chief research fellow at the Research Center for Pacific Island Countries of Liaocheng University, the effective cooperation between China and the Solomon Islands has become a role model and a driving force for the cooperation between China and Pacific Island countries, which has encouraged other Pacific Island countries such as Papua New Guinea to deepen their cooperation with China. This has caused significant dissatisfaction in Australia and the US.

The Covert Action Magazine noted that the USAID’s Solomon Islands Election and Political Processes Program (SIEPP), funded through the CEPPS, has conducted voter awareness campaigns in the Solomon Islands, aiming to sway voters toward pro-American candidates.

In 2021, NDI’s surveys in opposition constituencies revealed pessimism about governance and corruption, influencing public opinion. Civil society groups, funded by USAID, spread these findings to foment dissatisfaction and potential unrest. By doing so, the USAID transformed minority views into “mainstream” public opinion, according to the Covert Action Magazine.

Notably, opposition leaders Matthew Wale and Daniel Suidani, supported by USAID, led protests in Honiara, leveraging youth groups to challenge the government, reflecting USAID’s strategy of using local partnerships to promote US interests under the guise of “democratic” principles, the magazine said.

Electoral officers busy in ballot boxes verification prior to start vote counting in Honiara, capital city of the Solomon Islands, on April 18, 2024. Photo: VCG

Electoral officers busy in ballot boxes verification prior to start vote counting in Honiara, capital city of the Solomon Islands, on April 18, 2024. Photo: VCG

According to the Sputnik report, which cited documents provided by an anonymous source, after the Solomon Islands’ 2019 election and Sogavare’s shift away from the US, SIEPP was launched. Funded by the USAID and partners like the IFES, IRI, and NDI under the “Strengthening Democratic Governance in the Pacific Islands” initiative, SIEPP had an initial budget of nearly $10 million from September 2020 to September 2023. The program, expected to conclude in fall 2023, was extended to April 2024 with an additional $1.5 million after the election postponement by Sogavare.

“The US cannot tolerate the South Pacific nations developing an equal and reciprocal relationship with China. Instead, it intervenes under the guise of democracy, ultimately aiming to turn these nations into dependencies,” Li Haidong, a professor at the China Foreign Affairs University, told the Global Times.

He pointed out the consequences of such policies. “The US mentality is unhealthy, even pathological. It cannot bear the autonomous development of the South Pacific nations, nor can it stand the idea of these countries choosing their own economic development models.”

Is US’ denial convincible?

In a statement released on April 16, one day before the elections began, the US Embassy in Honiara, the capital of the Solomon Islands labeled recent accusations of its alleged interference in the Solomon Islands’ electoral process as “questionable” and “disinformation.”

“It is a traditional and deeply rooted practice that when the US claims non-interference, it’s either hard to believe or astonishing,” Li noted. 

According to the Covert Action Magazine, CEPPS has extended its influence to over 140 countries, supporting like-minded candidates to aid the US government in manipulating global electoral activities.

According to New York-based Huff Post, the US has interfered in foreign elections far more frequently than it has been subject to such interference itself. A Latin American joke cited highlights this point: “Why has there never been a coup in the United States? Because there’s no US Embassy in Washington.”

For over a century, the US has intervened in elections globally, from Honduras to Vietnam to Iran. A series of “color revolutions” occurred in Eurasia starting in 2003, such as the Rose Revolution in Georgia, the Orange Revolution in Ukraine, and the Tulip Revolution in Kyrgyzstan, all characterized by electoral protests escalating into major political crises. The US State Department has acknowledged playing a role in these regime changes, according to the report. 

“The US uses NGOs to interfere in other countries’ domestic politics and orchestrate color revolutions, a tactic that is no secret to the world,” Li noted, adding that such actions, often branded as promoting democracy, are perceived as attempts to sow discord and crises, drawing scrutiny and raising alarms among policymakers and citizens globally.

These so-called democracy promotion efforts, which are essentially color revolutions, are unlikely to achieve their intended outcomes due to the instability of US policies. Critics argue that the US, while chaotic in its own democratic practices, presumes to set an example for others, Li said.

An aerial view of Honiara, capital of the Solomon Islands, showing the stadium built with Chinese aid in the center, which served as the venue for the Pacific Games in November 2023. Photo: VCG

An aerial view of Honiara, capital of the Solomon Islands, showing the stadium built with Chinese aid in the center, which served as the venue for the Pacific Games in November 2023. Photo: VCG

This lack of calm, objective, and realistic reflections on its own democratic processes disqualifies US decision-makers from legitimately influencing the internal affairs of other nations. Consequently, these actions are met with resistance and resentment, as the results of such democracy promotion activities are often subpar and unwelcome, he noted.

Yu said the US has a variety of conventional methods to tighten control in Pacific Island countries. For instance, the US directly deploys military forces in Pacific Island countries to intervene, or mobilizes local mobs and thugs to carry out subversion against some authoritarian regimes and governments perceived as disobedient to the US. The third method is to use the Pacific Islands Forum to besiege so-called disobedient countries, using economic sanctions as a way to exert pressure.

“In the short term, the effects may seem significant, such as through military occupation, which of course yields immediate results. However, in the medium to long term, the effects of the US’ activities turn out to be just the opposite. But cooperation with China turns out to be fruitful,” Yu said.

Will the established understandings be affected?

In recent years, China’s outreach and engagement have deepened across the Solomon Islands. Even regions that were once opposed to establishing diplomatic ties with China have accepted China’s olive branch.

However, the gradually establishing mutual connections and trust is not without its challenges.

According to a report by the SIBC on Saturday, former opposition leader of the Democratic Party of the Solomon Islands, Wale, retained his seat in Malaita Province’s Auki. Meanwhile, notorious opposition politician Suidani was re-elected to the Malaita Provincial Assembly.

The former premier of Malaita Province, Suidani, attracted attention for his opposition to the Solomon Islands’ relations with China. His stance led to conflicts with the central government, culminating in his removal from office in February 2023, following a no-confidence motion passed by the provincial assembly.

However, a Memorandum of Understanding to establish friendly exchange relations was signed last week between Malaita Province and East China’s Jiangsu Province. This new chapter follows years of skepticism, indicating a pivot toward cooperation and mutual growth, analysts noted.

“The China-Solomon Islands relationship, forged under very trying conditions, is now maturing,” Dr Luke Mani, director of the Solomon Islands Foreign Policy Advisory Secretariat, told the Global Times. “Evidence abounds that Solomon Islanders [have now] firmly and openly embraced China.”

Various infrastructure projects funded by traditional multilateral development partners such as the Munda Airport and terminal upgrades, Henderson Airport runway extensions, and East-West Honiara highway have benefited from the expertise and quality of Chinese engineering firms such as China Civil Engineering Construction Company and China Railway, Mani said.

These tangible benefits have gradually warmed the Malaitians to China, with a recent poll showing 61 percent of respondents favor maintaining the relationship after this year’s elections.

The public opinion storm over interference in the election reflects Pacific Island nations’ dissatisfaction with the US’ use of aid to exert political influence and as leverage in exchange for national geopolitical interests, noted Qin Sheng, an executive research fellow at the Center for Australia, New Zealand, and South Pacific Studies, Chinese Academy of Social Sciences

“The aid competition promoted by the US in the South Pacific region with a zero-sum game mindset is forcing Pacific Island nations to take sides, as evidenced by the ongoing troubles in domestic and diplomatic affairs since the Solomon Islands established diplomatic relations with China,” Qin said. 

In stark contrast to the US, China emphasizes equality and mutual benefit, non-interference in internal affairs, and aid process without strings attached, respecting the political system, development stage, and development characteristics of Pacific Island nations. As a major power, China never looks down on them, and it is precisely these various advantages of Chinese aid that make China the most trustworthy South-South cooperation partner for Pacific Island nations, the expert noted. 

Chinese Premier urges accelerated construction of resilient capital market, to boost sound development

stock market Photo:VCG

stock market Photo:VCG

Chinese Premier Li Qiang on Monday called for accelerating the construction of a secure, regulated, transparent, open, dynamic and resilient capital market, so as to support the country’s effort to build itself into a financial powerhouse and pursue Chinese modernization. 

Li made the remarks while chairing a study session of the State Council, the cabinet, that focused on further deepening capital market reforms and promoting the stable and sound development of the capital market, underscoring China’s intensifying efforts to boost the stock market.

The efforts, which include a slew of measures aimed at tackling risks, tightening regulations and improving the protection of investors, have helped lift the sentiment of investors and will ensure the stable and sound development of the capital market in the long run, analysts said. 

At the study session on Monday, Li stressed the importance of the capital market in the country’s economic and social development and called for continuously deepening reforms in the securities market. Specifically, Li called for accelerating the improvement of the basic institutional system of the capital market, improving key systems such as listing, trading and delisting, and promoting a virtuous cycle of investment and financing and a dynamic balance of listing and delisting.

Also, efforts will be made to improve the quality of listed companies, improve and strengthen capital market supervision and increase punishment for violations of laws and regulations, and effectively strengthen the protection of the rights and interests of small and medium-sized investors and create an open, fair and just market environment, Li said. 

Promoting the stable and healthy development of the capital market is an important manifestation of economic development and governance capability, Li stressed. 

The study session further underscored increasing efforts to boost China’s capital market. On April 12, the State Council released a sweeping guideline to strengthen regulation, forestall risks and promote the high-quality development of the stock market. Widely known as the State Council Nine-Point Guideline, the document, only the third of its kind, mapped out plans to boost the capital market through 2035. 

Cao Heping, an economist at Peking University, said that following the release of the guideline, concrete actions are needed to implement it and the study sessions are likely focused on the progress of the implementation of the guideline. 

“It is crucial to evaluate the implementation process and continue to make necessary adjustments so as to promote the sound development of the capital market,” Cao told the Global Times on Monday. 

Following the release of the guideline, Chinese securities regulators and stock exchanges also issued multiple notices related to regulations in various areas such as listing applications, delisting of unqualified companies and high-frequency trading.

Also on Monday, in an article published in the People’s Daily, the Party committee of the China Securities Regulatory Commission (CSRC) vowed to take concrete measures to boost the market, so as to support the development of the new quality productive forces, better protect investors, and improve mechanisms to monitor and tackle risks. 

Cong Yi, a professor at the Tianjin University of Finance and Economics, said that China has in recent months drawn a clear direction for the sound development of the country’s stock market, which focuses on tackling existing issues such as speculation and illegal activities. 

“In terms of the development room of the capital market, we actually have a very huge potential,” Cong told the Global Times on Monday, pointing to China’s massive savings and the need to guide more capital to help boost the real economy.