भारतीय रोज़ न्यूज़ भारत की सबसे अधिकारपूर्ण, समय पर और विश्वसनीय समाचार सलाहकार वेबसाइट है
03:25
This year marks 60 years since the establishment of diplomatic ties between China and France. As both sides work to strengthen relations, a French-speaking Chinese man in Shanghai aims to promote mutual cultural understanding in his own special way.
06:52
From street corners to the world stage, breaking – better known as breakdance – is now an Olympic sport. In the breakdancing arena, few names shine as brightly as Mounir Biba. CGTN Europe went to Paris and talked to the French breakdancing legend, who played a key role in breaking’s Olympic inclusion.
04:00
Last year, a Chinese team visited France to train for the World Breaking Championship in Belgium. This was in preparation for the Asian Games in Hangzhou later in 2023. Stuart Smith interviewed the athletes who were aiming to compete and win. He began by inquiring about their goals while in France and the sources of their inspiration.
00:59
Two giant pandas, Jin Xi and Zhu Yu, arrived in Madrid, Spain on Monday, ready to start a 10-year stay in the European country.
A charter flight carrying the pandas from their home in Chengdu City, Sichuan Province in southwest China, landed on Monday at the Adolfo Suarez Madrid-Barajas International Airport, the Madrid Zoo Aquarium said.
The zoo’s veterinary and conservation team, as well as several officials from Spain’s Nature Protection Service (SEPRONA), waited at the airport and escorted the pandas to the zoo upon their arrival.
A special dinner made of freshly-cut bamboo shoots was waiting for the new members of the zoo.
The bears will be quarantined for about a month and could meet the public in late May if everything goes well, the Madrid zoo said.
In order to create a more comfortable living environment for the giant pandas, the zoo has conducted safety inspections and upgraded all the facilities and equipment in the panda enclosure.
Chinese experts went to Madrid in advance to inspect the conditions of the pandas’ new home. They will stay for about three months, until the pandas fully adapt to their new environment.
“Both pandas were born in 2020, so they are nearly four years old. They are very healthy, well developed in body shape and all other aspects. That’s why we chose these two for Spain,” said Yang Kuixing, a Chinese giant panda breeding expert.
China and Spain signed an agreement in 2007 to promote international cooperation on giant panda protection and advance bilateral cooperation on the preservation of endangered species and biodiversity. During the cooperation period, six panda cubs were successfully bred and have grown up.
Giant pandas Bing Xing and Hua Zuiba, along with their offspring Chulina, Jiu Jiu and You You, returned to China from Spain this March. The giant pandas, as a symbol of friendship between the Chinese and Spanish people, were deeply loved by locals.
“We felt a little sad to say goodbye to the five giant pandas living in Madrid. We had been with them for a long time, so it was hard for us to say goodbye. But now we are very happy and looking forward to welcoming a new pair of giant pandas. We are about to start a new chapter,” said Maria Delclaux, who is in charge of the giant panda enclosure at the zoo.
(Cover image via video screenshot)
Folk artists perform in Shehuo, a collection of traditional folk shows, in Qingxu county, Shanxi province, May 1, 2024. [Photo by Zhu Xingxin/chinadaily.com.cn]
Over-protectionism. Illustration: Chen Xia/GT
Recently, the West has been unreasonably hyping up the false narrative of “overcapacity” in China. Even the IMF warned on Tuesday that China’s policies that boost supply would worsen overcapacity, reinforce deflationary pressures, and potentially provoke trade frictions.
While the IMF doesn’t explicitly mention any specific industry, it is probably referring to China’s new energy industries in light of recent US pressure on green Chinese products. Yet, whether or not China has excess capacity should be determined by economic rules and facts, not political agenda led by the US.
The current global distribution of production capacity is a result of the combined effects of industrialization and market-based economic activities over the past few decades. Cooperation based on comparative advantages is crucial for optimizing the resource allocation of global factors, also an important approach for improving productivity and well-being among countries.
From the perspective of economic principles, equating fluctuations in supply and demand with excess capacity goes against the normal rules of the market economy and actually works counter to the rationality of international division of labor and economic globalization. If a country with supply exceeding demand is recklessly considered to have excess capacity, then all export economies in the world, not only China but also the US, have overcapacity issues in terms of their exported products.
In this sense, the narrative of “overcapacity” and criticisms of industrial subsidies are merely rhetoric fabricated by the US to hinder China’s competitiveness.
China’s economic advantage in its “new three” products – new energy vehicles, lithium-ion batteries, and photovoltaic products – stem from its competencies and are shaped through full market competition, rather than subsidies from the government. While the US accuses China’s industrial policy of violating international regulations and worsening overcapacity, the scale of American subsidies to new energy industries is far greater than in other countries, as the CHIPS and Science Act and the Inflation Reduction Act have showed. For example, the detailed rules of the Inflation Reduction Act stipulate that only electric vehicles assembled in North America are eligible for a maximum subsidy of $7,500 through federal tax deductions, which is a blatantly discriminatory subsidy law.
By comparison, China’s industrial policy adheres to the principles of market economy and fair competition. For instance, in a statement published on its WeChat account on Wednesday, the National Development and Reform Commission said that China plans to introduce additional measures to support the development of the new energy vehicles. These measures include fostering industrial innovation through scientific and technological advancements, encouraging enterprises to increase investment in research and development, and facilitating the optimization and restructuring of the new energy vehicle industry. Moreover, China will remove all restrictions on foreign investment in manufacturing, inviting global auto companies to participate in the Chinese market and industrial chain to benefit from the advancements in new energy vehicle technology.
In fact, China’s competitive new energy products have created huge opportunities and support for the global industries and markets. Its technological innovation in new energy vehicle sector presents significant development opportunities for global auto industry. Also, China is the only country in the world that has all the industrial categories listed in the United Nations industrial classification system, including 41 industrial categories, 191 medium categories and 525 subcategories. And its efficient industrial system has played a crucial role in maintaining stability of the global auto supply chain.
Furthermore, China is a major driving force behind the world’s rapid expansion of renewable power generation capacity. China’s installed capacity of renewable energy exceeded 1.45 billion kilowatts in 2023, accounting for more than 50 percent of the country’s total installed power generation capacity, according to data released by the National Energy Administration. Power generated from renewable energy sources such as wind and solar power now accounts for more than 15 percent of China’s total electricity consumption.
China has always been committed to promoting high-level opening-up and offering opportunities for market access to other countries, with the aim of achieving mutually beneficial results. And it is hoped that all parties could be engaged in rational discussions based on facts and economic principles when it comes to green development, rather than resorting to baseless accusations and attacks.
The article was compiled based on an interview with Jin Ruiting, researcher at the Academy of Macroeconomic Research of the National Development and Reform Commission. [email protected]
A photo shows Serbian film director Emir Kusturica. /BJIFF
A photo shows Serbian film director Emir Kusturica. /BJIFF
Over the just concluded 14th Beijing International Film Festival (BJIFF), Serbian film director Emir Kusturica chaired the jury for the Tiantan Award competition section. As a tribute to this longstanding friend of the Chinese people, eight of Kusturica’s works – “The Time of the Gypsies,” “Arizona Dream,” “Underground,” “Black Cat, White Cat,” “Life is a Miracle,” “Promise Me This,” “Maradona,” and “On the Milky Road” – were screened for film enthusiasts.
A poster shows the eight films by Serbian director Emir Kusturica screened during the 14th Beijing International Film Festival. /BJIFF
A poster shows the eight films by Serbian director Emir Kusturica screened during the 14th Beijing International Film Festival. /BJIFF
Born in Sarajevo in 1955, Emir Kusturica enrolled in the Film and TV School of the Academy of Performing Arts in Prague in 1973. In 1981, he released his debut feature film, “Do You Remember Dolly Bell?” which not only competed at the 38th Venice International Film Festival but also garnered accolades such as the Best First Feature Award and the FIPRESCI Prize, marking the beginning of Kusturica’s journey as a master filmmaker.
In 1985 and 1995, Kusturica won the Palme d’Or at the Cannes Film Festival for his films “When Father Was Away on Business” and “Underground,” respectively.
Kusturica’s films are renowned for their distinct style, marked by a blend of chaos, whimsy, and surrealism. Drawing inspiration from the fantastical imagery of Marc Chagall’s paintings and paying homage to classic works of cinema, Kusturica creates a unique cinematic universe that fuses elements of French elegance and Russian passion.
A still from Kusturica’s documentary “Maradona.” /BJIFF
A still from Kusturica’s documentary “Maradona.” /BJIFF
Kusturica maintains a close relationship with the Beijing International Film Festival, having participated in related activities during the 2017 edition. This retrospective exhibition of Kusturica’s works will comprehensively showcase his creative career, including his iconic narrative feature films and documentaries featuring soccer legend Maradona and the band The No Smoking Orchestra. Through these eight classic films, audiences will have the opportunity to gain a profound appreciation for the charm of Kusturica’s work and a deeper understanding of this globally acclaimed cinematic master.
00:41
With the Peony Festival in town, there are some new specials on the menu at one coffee shop in Luoyang. Whether you’re a tourist or a resident, this is your chance to enjoy an uplifting Vairocana Buddha latte or a sumptuous cake shaped like a peony.
At the Beijing International Auto Show, Chinese-made new energy vehicle models attract attention at a NIO booth, Beijing, China, April 29, 2024. /CFP
At the Beijing International Auto Show, Chinese-made new energy vehicle models attract attention at a NIO booth, Beijing, China, April 29, 2024. /CFP
Editor’s note: Sheng Zhongming is a research fellow at the China Finance 40 Forum (CF40) think tank. The article reflects the author’s opinions and not necessarily the views of CGTN. It has been translated from Chinese and edited for brevity and clarity.
China’s new energy sector has experienced rapid growth both in scale of production and export in recent years, attracting widespread attention.
To understand the dynamics driving this expansion and China’s position in the global market, three key issues need clarification: the underlying demand for new energy products, the role of subsidies and the sources of China’s export advantage.
China’s new energy industry driven by global demand
Firstly, the expansion of China’s new energy production is driven by global demand for carbon reduction.
Reports from the International Energy Agency show that if all countries fulfill their emission reduction commitments, by 2030, the annual demand added for new energy vehicles and lithium batteries globally will exceed 70 million units and 6,600 gigawatt-hours (GWh), respectively, which are 5.5 and 4.9 times the global output in 2023. This means that it is imperative to achieve average annual growth rates of at least 25.5 percent and 27.5 percent for the production of new energy vehicles and lithium batteries, respectively, from 2024 to 2030.
Reports from the International Renewable Energy Agency also suggest that to meet global temperature control goals, the cumulative installed capacity of global photovoltaic power generation needs to reach at least 5,200 gigawatts (GW) by 2030. This means that from 2024 to 2030, the average annual growth rate of cumulative installed photovoltaic capacity needs to reach 18.4 percent, and the average annual installed capacity added needs to be higher than 515 GW, roughly equivalent to China’s current level of photovoltaic cell production.
The substantial demand brought about by global carbon reduction processes is the driving force behind the expansion of China’s new energy production.
Role of subsidies in China’s new energy industry
Secondly, subsidies for the new energy industry are not unique to China and do not provide a competitive advantage.
To tackle climate change and achieve their respective carbon reduction targets, countries worldwide are extensively subsidizing their domestic new energy industries.
In 2022, the U.S. passed the Inflation Reduction Act and planned to spend $391 billion by 2031 to subsidize clean power production and transportation. Under the current new policies, the subsidy for new energy vehicles in the U.S. has not been weakened but has become more discriminatory. To receive tax credits, new energy vehicles must be assembled and produced in North America, and the key minerals in the power batteries and battery materials carried must be sourced from the U.S. or countries that have signed free trade agreements with the U.S.
Japan initiated subsidies for clean energy vehicle models such as electric and clean diesel cars as early as 2008. Germany also started universal subsidies for the sale of new energy vehicles in May 2016.
China implemented a wide-ranging subsidy policy for new energy vehicles in 2013, but this policy was officially phased out in 2023. Moreover, China’s subsidy intensity for new energy vehicles is not high: the tax credit for new energy vehicles in the U.S. is between $2,500 and $7,500 per vehicle, Germany’s subsidy still stands at $3,200 per vehicle in 2024 despite a continuous decrease and Japan’s lowest subsidy amount currently exceeds $2,800 per vehicle, while China’s subsidy before the withdrawal was less than $2,000 per vehicle.
Reasons for China’s export advantage
Finally, China’s export advantage in new energy products stems from technological advancement, economies of scale and a comprehensive industrial chain.
Technological advancements have significantly reduced production costs and improved efficiency in the photovoltaic field, making photovoltaic power generation more competitive against coal-fired power generation. Solar grid integration has also progressed rapidly, especially in middle-income and low-income countries, driving the global green transformation process.
The expansive market scale and rapid technological updates in the new energy sector have provided significant opportunities for research and development. Chinese auto companies are leveraging the vast consumer market and diverse vehicle usage environment to develop competitive technologies applicable to new energy vehicles.
China’s new energy industry has benefited from a comprehensive supply chain in the photovoltaic and lithium battery fields. This has ensured production efficiency and competitiveness, supported by advanced industrial infrastructure and policy environments.
In conclusion, China’s growth in the new energy sector has been driven by global demand for carbon reduction, supported by subsidies that are not unique to China, and built upon solid industrial competitive advantages. This expansion has not only contributed to global and domestic green transformation but also fostered new drivers for China’s economic development.
A delegation from the Democratic People’s Republic of Korea (DPRK) will attend the St. Petersburg economic forum, Russia’s annual gathering, which President Vladimir Putin and the country’s top business executives usually attend, the TASS news agency said on Thursday.
The forum is scheduled for June 5-8, TASS said.
Source(s): Reuters
