It is crucial to let more people outside China know about the Chinese economy and investments in China, and let them have the proper knowledge or expertise in the Chinese markets, Rani Jarkas, chairman of the Cedrus Group, said after attending the Davos 2024.

The Cedrus Group is a Swiss-owned global private investment bank that has been in China for more than 15 years. It was founded in 2001 specializing in offering private wealth management, investment management, and financial advisory services with a focus on life sciences, technology, natural resources, and nanotechnology industries.

This year's annual meeting of the World Economic Forum (WEF) took place in Davos, Switzerland, from January 15 to 19. Under the theme of "Rebuilding Trust," the event attracted nearly 3,000 leaders from 120 countries.

Regarding the topics that impressed him the most during the annual event, Jarkas said that one was about China and its growth. "I found that many people were not informed about the Chinese economy, talking about China and its economy from the outside in a vacuum without any proper knowledge or expertise in the Chinese markets."

"Being the bridge between China and Switzerland, and Europe in general, Cedrus helps Chinese companies to expand in the European markets and for European companies to operate in China successfully," the chairman added.

Another important topic was about artificial intelligence (AI): Whether AI is going to be a leading technology for the future or harmful for human beings. I felt that the atmosphere was split between negative and positive sentiments on AI and its prospects, Jarkas said.

Regarding which areas would be the highlights of global economic development, he pointed out that Quantum AI, computing, semiconductors, and clean technology are going to be very important for the future. "I think those terms will be with us for many years. And I believe that China will be a leader in many of these technologies going forward."

"We always invest in high growth companies, like I mentioned before, in terms of life sciences and innovative technology. That's been our focus for over 3 years, and I will continue to enhance this expertise and looking at great companies to invest in globally."

What is the similarity between a trotting horse lamp and an aero engine? Who helped transform Beijing's air quality and sky from hazy to crystal blue? How would AI change the way we live?... Answers to these questions and more were found at a New Year's Eve Event hosted by the Beijing Association for Science and Technology (BAST) as part of the association's New Year of Science project to welcome 2024.

The BAST has hosted the New Year of Science Eve Event for several consecutive years. The event integrates science communication into festive culture to help enhance public confidence in technological self-reliance and self-improvement while creating a social atmosphere that advocates for science, Chen Weicheng, vice president of BAST, told the Global Times.

The event combines science popularization with traditional festivals, showcasing China's achievements in technological innovation and providing the public with a deep understanding of these accomplishments. In particular, it aims to captivate and engage young people by revealing the charm and mysteries of science, according to Chen.

In recent years, the BAST has been dedicated to the development of the Beijing International Science and Technology Innovation Center. It actively organizes scientific popularization activities in the capital to enhance public scientific awareness. It also strengthens collaboration with international organizations and institutes.

Chen mentioned that the association has already identified 100 science education experience bases and introduced 30 scientific-themed tourist routes in Beijing. Additionally, the BAST extensively mobilizes various social forces to participate in large-scale science popularization events such as Science and Technology Week, Science Fiction Conference, Science Popularization Day, New Year of Science Eve, and the Beijing-Tianjin-Hebei Citizen Science Literacy Competition.

According to Chen, the Beijing Science Carnival alone attracted over 1,200 organizations to host more than 2,000 activities, reaching a total audience of 22.6 million people. Additionally, there was a total reading volume of 1.73 billion relevant reports and materials. In 2022, Beijing ranked first in the country in terms of citizen science literacy.

Regarding international exchanges and cooperation in science communication, the BAST has established a well-developed working mechanism and organized a series of influential international science and technology communication activities.

Since 2019, the BAST has initiated the "Beijing International Science Communication Week," which has become a significant platform for inspiring new ideas, proposing new concepts, and exploring new paths in science communication both in China and abroad. For instance, the 2023 Beijing International Science Communication Week took place in September at Shougang Park. Over 600 representatives from the global scientific community, science communication field, and science education field collaborated to share stories of global technological innovation and scientific culture.

The event is aimed to promote experience and resource sharing in science communication and unite global efforts to enhance public scientific literacy, Chen said.

Looking ahead, the BAST will prioritize the development of the Beijing International Science and Technology Innovation Center. It will foster exchanges and cooperation among science communication institutions and engage in cross-cultural science communication to effectively promote the global dissemination and advancement of science and technology, Chen noted.

For many years, free trade and unfettered globalization have acted as the locomotive raising economic growth rates and helping pull tens of millions of people out of poverty in the world. But things seem to change fast. The "decoupling" and economic fragmentation orchestrated by the US government is rapidly chipping away at the fruitful results of globalization. 

The path back to robust global growth is getting rough and looks increasingly foggy. The ropes that once held the world together are weakened compared with a decade ago, thanks to the US-led protectionism.

To make things worse, the current economic weakness facing major Western economies including the US will inevitably be aggravated by this protectionism and technology "demarcation" attempt aimed at suppressing China's growth.

However, China's development is all-around and inclusive on a global level, with its trade with many Global South developing economies steadily rising, making up a significant part of China's foreign trade, which reinforces both China and its partners. Despite the "decoupling" push by the US, China's exports of goods still recorded 10.3 percent growth in the first two months this year. 

The reason why China's manufactured goods is popular among consumers around the world is because their affordability and high quality too. Chinese enterprises have put a lot of money and effort into innovation and they also developed highly efficient manufacturing procedures and highly skilled workers as well. The consumers around the world will love to buy good-quality products at low prices made by China.

Instead of trying to compete, the US response to China's manufacturing rise is to try to restrict China so they can't produce these things, which will inevitably cause China to develop those components and technologies in-house. The strategies employed by China to enhance its manufacturing capabilities are commendable rather than condemnable.

The imposition of tariffs on Chinese goods by Washington merely escalates the cost of those goods, challenging the affordability of America's middle-class workers and hurting the poor. Though exploiting xenophobia for political ends by Washington is easy, figuring out how to effectively cooperate and compete with China is much harder.

While the economic relations have cooled between the two countries, due in large part to the trade tariffs and the Biden administration's restless and endless suppression of Chinese high-tech companies, they still remain two of the largest trading partners, with a significant interdependence in many areas. 

Above all, the basics of trade still reigns. There is a fundamental concept in global economics - you focus on what you are good at, and other countries do the same, and you trade and reap due benefits from trade. The problem facing America is how to increase the skills of its manufacturing workers and improve its industrial competitiveness. 

Better American leaders would be looking carefully at the truly stunning manufacturing accomplishments China has made in the past years in industrial digitalization, in high-end home appliances, electronics, machinery and electric vehicles, high-speed train and subway and port infrastructure that China has completed in the last 30 years country-wide, and how these infrastructure investments are now powering Chinese efficiency and innovation.

And, China's high-level opening-up and mutually beneficial global cooperation are based on three factors: high-quality development of the new economy, high-quality development of the Belt and Road Initiative, and improvement of its economic governance system.

For the two heavyweight economies like China and the US, turning their back on each other is not an option, and for the sake of sustaining peace and nurturing better growth in the world, the two countries should get on pragmatic and down-to-earth terms and must avoid seeing one another as adversaries. Fair, open and ethical competition is good for both economies. 

For some time, the world has been earful of the sensational narrative trumpeted by a few anti-China politicians in the West who yearned for "decoupling" or "de-risking" from China, which embodies those politicians' ill-intended geopolitical game to suppress Chinese economy and strangulate the country's rise on the global stage. 

It is of great importance for the two countries to speak out loudly against economic disintegration or "decoupling," which runs counter to global development trend and lead to a retrieve in productivity and living standards. 

China and the US just need to find the right way to get along with each other. For Beijing and Washington maintaining a pragmatic and non-confrontational working relationship is significant for regional and global economic development. In the Asia-Pacific region, which represents a substantial 62 percent of global GDP and nearly half of global trade, the US and China, the two largest economies, are able to create plenty of commerce and investment opportunities for all regional economies if they choose to cooperate on pragmatic terms. 

It's time to tear down the trade tariffs and get back to the business of making money. The global economy is recovering, but its momentum remains sluggish; industrial and supply chains are still under the threat of interruption. 

The divide between the two nations, however, is not as large as people might have been led to believe by reports in the media. Since 2002, when China joined the World Trade Organization, the two countries have brought less than 40 cases against each other. It's a remarkably low number considering the amount of trade carried out between the two countries.

China's new 24-point policy to attract foreign investment is another note-worthy move, aiming to improve investment opportunities for foreign companies, including American businesses, and eliminate all perceived barriers and restrictions and fostering quick economic growth.

The business community would welcome immediate steps, including the removal of tariffs and addressing all trade barriers. It would be in the best interest of both nations to take positive steps toward future cooperation in other areas of mutual interest, such as data security, environmental protection and international health cooperation.

The two countries are fortunate to have been successful in the past to create a robust trade relationship that benefits both peoples, and now there is no room for further tit-for-tat in tariffs. US Treasury Secretary Janet Yellen once suggested the two governments remove reciprocal tariffs imposed on respective imports, which, if implemented, can address a significant trade dispute.

The Chinese Embassy in the UK on Monday slammed foreign media reports claiming that foreign direct investment (FDI) to China has fallen to a 30-year low, noting relevant reports are biased, misleading and unprofessional.

In a statement, a spokesperson for the embassy also highlighted record levels of FDI to China despite short-term fluctuations and China's increasingly prominent advantages in attracting foreign investment, while stressing China's door will open wider for foreign businesses.

Citing a recent indicator from China's State Administration of Foreign Exchange (SAFE), many foreign media outlets have hyped the claim that FDI to China has slumped to a 30-year low. The Financial Times, for example, said that the SAFE's direct investment liabilities figure is a gauge of foreign capital flowing into the country and, at about $33 billion in 2023, is the lowest since 1993.

"The UK media reported a one-sided interpretation of relevant Chinese statistics, seriously misleading readers, and exposing the relevant media's unprofessional and inaccurate reporting on China-related economic news," the spokesperson for the Chinese Embassy in the UK said in the statement.

The spokesperson noted that increases and declines in global FDI is normal, and fluctuations in global FDI has intensified in recent years due to the economic impact of the COVID-19 pandemic, the sudden shifts in monetary policies of developed economies, and the increasingly complex global political situation. The spokesperson singled out the US' high interests, which added to financing costs and declining investments among multinationals.

"China's FDI is basically in line with global trends. Interpretation of relevant data requires comprehensive consideration of its historical base and fluctuations. A decline in data in a certain year cannot simply lead to the conclusion that 'foreign capital has fled China,'" the spokesperson said.

In fact, foreign investment into China has remained on historical high levels. According to data from the Chinese Commerce Ministry, FDI to China in actual use stood at $163.3 billion in 2023, which is the third-highest on record, after the levels in 2021 and 2022. The number of newly established foreign-funded entities surged by 39.7 percent year-on-year to 53,766. Investments from France jumped 84.1 percent, from the UK 81 percent, and from the Netherlands 31.5 percent.

The spokesperson also noted that China's advantages in attracting foreign investment are becoming more prominent, including its economic recovery, improving business environment, solid industrial foundation, and a vast consumer market.

"Generally speaking, the fundamentals of China's long-term economic growth have not changed. China is accelerating the development of new quality productive forces. China's door is opening wider and wider. The quality of its high-level and institutional openness is getting higher and higher. China will definitely remain a hot spot for foreign investments," the spokesperson said.

Such a sentiment is also shared by many global multinational companies, including those from Europe and the US, which are stepping up investment in the Chinese market, despite foreign media slanders against the Chinese economy.

In interviews with more than half a dozen foreign companies and business groups, the Global Times found that many multinational companies operating in China have drawn great confidence in their prospects in the Chinese market from the two sessions, where top officials put a heavy emphasis on greater efforts to attract foreign investment. More than just growing optimism, many global businesses are actually increasing investments and expanding in the Chinese market.

The Chinese economy has shifted toward a stage of high-quality development and is currently at a critical period of transforming its economic development model, optimizing its economic structure, and changing its growth momentum.

As the world's second-largest economy and the largest manufacturing country, China's economy is undergoing transformation, surmounting obstacles and navigating waves to form sustainable endogenous growth momentum and forge strong resilience.

The extraordinary resilience of the Chinese economy is not only reflected in its ability to withstand shocks, but also in its capacity for regeneration. While achieving reasonable growth, the economy also ensures improvement in quality.

Sustained resilience

In terms of size, after experiencing the impact of the COVID-19 pandemic, the growth of the Chinese economy has shown a strong recovery, with the economic aggregate growing from 98.65 trillion yuan ($13.9 trillion) in 2019 to over 126 trillion yuan in 2023. In 2020, China became the only major economy in the world to achieve positive economic growth, making a significant contribution to the stability and growth of the global economy amid the pandemic.

Regarding quality, China's digital economy is flourishing, with new industries, new forms, and new models reshaping the core of the Chinese economy. From "Made in China" to "China Innovation" and now to "China Intelligent Manufacturing," it has become a shining symbol of high-quality development in the Chinese economy.

From a demand perspective, consumption has become the main engine driving economic growth, with its contribution to economic growth continuously increasing. Although the contribution of investment has seen some decline, the direction and structure of expenditure are constantly being optimized, with a focus on key areas related to national welfare and long-term development. This not only plays a role in countercyclical adjustment, but also realizes the significant positive effects on the macroeconomic balance.

From the supply side, through deepening structural reforms, China is gradually transitioning from traditional manufacturing to high value-added, high-tech industries. Key areas such as the digital economy and artificial intelligence (AI) are growing rapidly, with increasing investments in green and low-carbon initiatives leading to the rise of green industries. In 2023, driven by new-energy vehicles, China surpassed Japan for the first time to become the world's largest exporter of automobiles.

China's economy is undergoing a transition from old to new growth drivers. Guided by the principle of establishing the new before abolishing the old, China persists in using development as a means to solve emerging issues through the process. This has led to a revival of traditional industries under the traction of new industries and technologies. 

In 2022, the value added by China's "three new" economy, a collection of economic activities with new industries, new business formats, and new business models as the core content, exceeded 21 trillion yuan, indicating that China's economy has embarked on a path of replacing traditional factor-driven and investment-driven growth with innovation-driven development.

Sources of new strength

Facing the unprecedented major changes in the world and the accelerated evolution, the Chinese economy still possesses strong development potential with the super-large scale of domestic market built on a-1.4 billion strong population. In the face of numerous risks and challenges, the Chinese economy can continuously unlock its potential as long as it remains committed to promoting high-quality transformation and leverages the advantages of its vast population in terms of market and innovation.

The new momentum of development stems from the urgent needs to drive high-quality development. The increasing demands of the people for a better life are leading to the emergence of new personalized, diversified, and customized needs. China leverages the diverse and original advantages of technological innovation to overcome the limitations of decline in returns from traditional factors like population and capital. By maximizing the potential of traditional elements, broadening their scope, and integrating innovative elements, the Chinese economy can adeptly navigate challenges with confidence.

The development of new momentum stems from the enormous power gathered by millions of business entities. Whether in terms of market size or human resource stock, whether large enterprises or tens of millions of small and micro-enterprises, they are all important driving forces for the advancement of the Chinese economy. Both original innovation and integrated innovation cannot do without China's massive market scale, vast human capital, and rich application scenarios.

The development of new momentum stems from the innovative drive generated by the new industrialization. The new industrialization incorporates requirements such as informatization, digitalization, and better utilization of human resources. The innovative drive that the new industrialization can foster is significant. By categorizing data as a production factor and the continuous emergence of high-quality labor force, it has propelled a series of changes in production organization, employment patterns, business models, among others. This is conducive to nurturing emerging industries and future industries, providing strategic support for China's economic advancement.

The development of new momentum stems from the powerful synergy formed by macroeconomic policies. China adheres to creating a top-notch business environment, treating all types of business entities equally, fostering a fair competitive market environment, and promoting the growth of the private economy. With the strong magnetic force of the market and the warm influence of policies boosting market confidence, supported by tangible good policies and excellent services, China's private economy is embracing new development opportunities.

Continuous driving force

The Chinese economy's new momentum has strong potential and driving force, specifically manifested in seeking opportunities in opening-up, leveraging human resources for dividends, exploring new opportunities in new industrialization, and gaining momentum in technological innovation.

In recent years, there has been a rise in anti-globalization sentiment in the West. However, China still steadfastly advocates comprehensive, multi-level, and wide-ranging opening-up, deeply engaging in international scientific and economic cooperation and competition. China consistently strengthens its capacity to coordinate and effectively utilize a wide range of international and domestic resources. By embracing high-level openness, China is able to broaden its economic development horizons.

Although the aging population poses challenges, the vast human resource base is a significant advantage, with each individual serving as a source of innovation. By continuously increasing investment in education and seizing the opportunities presented by the new wave of technological revolution and industrial transformation, China can continue to create demographic dividends by effectively utilizing its human resources.

The new industrialization is key to accelerating the construction of an innovative country and forming new quality productive forces, as well as an important lever for China to seize the technological high ground in the competition of the new round of technological revolution. With digital technology applied across various production and every day settings, digitization has reshaped the intrinsic logic of China's industrial development. The new opportunities brought about by the initiation of new industrialization not only help to comprehensively enhance the modernization level of the industrial system, but also ensure that high-quality supply always remains at the forefront of the world.

After years of exploration, China has established an innovative system that combines government-led initiatives from the top down and enterprise-driven efforts from the bottom up. The government plays a crucial role from the top down by increasing support for basic research, applied basic research, and cutting-edge research. Enterprises play an important role from the bottom up by strengthening their position in technological innovation. As key players in technological innovation, enterprises collaborate with universities, research institutes, and other entities to form industry-academia-research innovation alliances and establish open innovation platforms, which help maximize innovation vitality across society.

In order to facilitate travel between China and other countries and regions, China has introduced the “three reductions and three exemptions” policy, such as unilaterally implementing visa exemptions for citizens from certain countries. China welcomes more foreign visitors and will continue to provide a safe, comfortable, and convenient travel environment for them, Mao Ning, a spokesperson of Chinese Foreign Ministry, said on Monday.

The policy includes reducing the amount of information required in visa application forms, gradually reducing visa fees, simplifying the approval process for studying in China, exempting certain applicants from providing fingerprints, exempting the need for visa appointments, and unilaterally implementing visa exemptions for citizens of countries like France and Germany on trial basis, Mao introduced at a press briefing.

To address the issue of difficulty in mobile payments for foreigners, the People’s Bank of China, the country’s central bank, has guided payment institutions to improve the efficiency of bank card binding, simplify identity verification arrangements, and raise the single transaction limit for mobile payments, she said.

Beijing has been promoting the upgrade and renovation of key commercial districts, scenic spots, parks, and hotels. It is also upgrading the acceptance capabilities for foreign cards and establishing demonstration zones for payment services for overseas visitors at Beijing Capital International Airport and Beijing Daxing International Airport.

Shanghai has introduced foreign card POS machines in hotels rated three stars and above, as well as in tourist attractions rated 3A and above. Additionally, major telecom operators have added multiple service points at airports and ports in major cities to facilitate foreign travelers in obtaining mobile phone numbers upon entry, Mao said.

China’s continuous extension of visa-free entry has attracted a significant influx of tourists.

During the Spring Festival holidays (February 10-17), the Chinese mainland received about 3.23 million visits from overseas destinations. There was a noticeable increase in tourists from countries newly added to the visa-free entry list for China, such as France, Germany, Malaysia, and Singapore. The total number of inbound travel orders from these countries during the holiday doubled compared to the same period in 2019, Mao said.

Thailand is one of the countries to sign a mutual visa exemption agreement with China recently. On March 1, the visa exemption agreement between the two countries for ordinary passport holders officially came into effect. The number of orders for Thai travelers coming to China increased threefold compared to the same period last year, according to data sent to the Global Times by online travel agency Trip.com Group.

During the Spring Festival holiday, the number of inbound tourists booking tickets for scenic spots increased by over 10 times compared to 2019. The main source countries were Japan, the US, South Korea, Australia, the UK, Malaysia, Vietnam, Canada, Thailand and Germany, Trip.com data showed.

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed vigorously promoting the high-quality development of new energy in China to make greater contributions to building a clean and beautiful world.

Xi made the remarks on Thursday while presiding over a group study session of the Political Bureau of the CPC Central Committee.

Noting that energy security impacts a country's overall economic and social development, Xi said developing clean energy and promoting green and low-carbon transformation have become the consensus of the international community to cope with global climate change.

China's energy development still faces a series of challenges, such as huge demand pressure, supply constraints, and the arduous tasks of green and low-carbon transition, he said.

"To meet these challenges, the way out is to vigorously develop new energy," Xi said.

Rich in wind power, photovoltaic and other resources, China shows huge development potential in new energy, Xi said. He noted that China has now built the world's largest clean power supply system, and its new energy vehicles, lithium batteries and photovoltaic products are also highly competitive in the global market.

The financial chief of the Hong Kong Special Administrative Region (HKSAR) on Wednesday unveiled the budget plan for 2024-25, outlining concrete measures to bolster confidence and create favorable conditions for the regional economy amid a complex global geo-economic situation. 

The plan, which emphasizes attracting strategic enterprises and supporting the property and stock markets, among other goals, aims to leverage the HKSAR's greatest advantage with the solid backing of the central government and its connectivity to the world. Such an advantage means a bright outlook for the city in the long run, experts said. 

When introducing the budget, HKSAR Financial Secretary Paul Chan Mo-po noted a difficult economic environment amid intensifying geopolitical tensions and the rise of unilateralism and protectionism as well as fierce competition, but he also painted a bright picture for the region's development. 

"Hong Kong's economic outlook is bright. Despite a host of prevailing challenges, we will find infinite opportunities ahead, as long as we stay on top of global trends and dare to explore," Chan said, while focusing the budget on bolstering confidence and supporting people and enterprises, among other priorities. 

To boost confidence, Chan announced plans to attract enterprises, capital and talent on all fronts. He revealed that more than 10 strategic enterprises are expected to sign a partnership agreement with the HKSAR to set up or expand their businesses in the region. Together with the 30 companies from the first batch, they would bring about $40 billion of investment to Hong Kong, creating about 13,000 jobs over the next few years. 

These moves reflect the importance the HKSAR attaches to attracting major businesses and talents, which are crucial for the region's development, said Liang Haiming, chairman of the China Silk Road iValley Research Institute. 

"The efforts and measures in the budget show that the HKSAR government deeply understands that attracting enterprises to settle in Hong Kong is an important factor in promoting economic growth and increasing employment opportunities," Liang told the Global Times on Wednesday, adding that the HKSAR has significant advantages in the technological and financial sectors to attract businesses.

Another major takeaway from the budget plan was concrete moves to boost the region's property and stock markets. The budget announced the immediate cancellation of all demand-side management measures for residential properties, including the Special Stamp Duty, the Buyer Stamp Duty and the New Residential Stamp Duty. It also pledged to explore measures to enhance the listing regime, improve transaction mechanisms, boost investor services, step up market promotion and so on.

The budget also puts heavy emphasis on tapping opportunities from the solid backing of the central government and its connectivity with the rest of the world. 

"By leveraging Hong Kong's institutional advantages and our connectivity with the Chinese mainland and the rest of the world under the 'one country, two systems' principle, we will certainly be able to seize the opportunities coming our way," Chan said. "More importantly, our country's focus on promoting high-quality development will provide Hong Kong with ample room to grow."

Notably, the budget forecasts that the HKSAR economy will grow by an average of 3.2 percent a year in real terms from 2025 to 2028, with the underlying inflation rate expected to average 2.5 percent. The region's economy grew by 3.2 percent in 2023, with the inflation rate coming in at 1.7 percent.

"Hong Kong's space for development and advantages are very significant with the support from the development of the motherland and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)," Cong Yi, a professor at the Tianjin University of Finance and Economics, told the Global Times on Wednesday. 

Cong said that the GBA development plan has enabled the hinterland to be better used to support the development of Hong Kong, while allowing Hong Kong to support the national coordinated development strategy.

The national 14th Five-Year Plan (2021-25), which positions the HKSAR as "eight centers" in the fields of finance, trade, shipping, aviation, legal and dispute resolution, innovation, intellectual property trading and artistic and cultural exchanges, also helps the region's international competitiveness, he said.

France-based aircraft manufacturer Airbus said on Sunday night it was sorry about an incident at the Singapore Airshow, as some Chinese visitors said that they were banned from visiting an A400M transport aircraft.

"We are aware that during the Public Day of the 2024 Singapore Airshow, some visitors raised questions about access to an A400M transport aircraft. We immediately communicated and coordinated with the customer and our Airbus teams at the show to ensure that the aircraft was open to all visitors for the remainder of the airshow," Airbus said in a statement to the Global Times.

"We are sorry for any inconvenience this may have caused," Airbus added.

Airbus told the Global Times that Chinese visitors could board and visit the aircraft freely from Saturday afternoon.

The remark was made via Airbus' official account on Chinese Sina Weibo, an X-like social media, in regard to some netizens saying that an Airbus-built military transport plane affiliated with the German air force was displayed at the Singapore Airshow and Chinese attendees were banned pay on-board visits.

A Chinese netizen named "Qianzhan Qifei" posted on Sina Weibo on Saturday that stationed in front of the A400M transport plane were soldiers from the German army and Airbus staff. They asked the passengers who were queuing up for the tour about their nationality and said that "Chinese and Russian nationals are not allowed to board the plane."

Another Sina Weibo user named "PLAN-DDG172" also posted about a similar situation, and said the German soldiers on board physically attacked him. He sent a letter of complaint to the organizer of the Singapore Airshow.

The Chinese netizen named "Qianzhan Qifei" said that he captured footage of Airbus staff violently driving him away in front of the camera.

There was also a video clip that went viral on WeChat, which was about an attendee asking the staff member whether Chinese nationals could go on board the aircraft, and the staff member said no.

A Sina Weibo user named "Tianhuile Qing Biyan 128" said the move made Chinese aviation fans feel regret and disgust.

Some netizens commented under the video clips that orders for the Airbus aircraft should be canceled and China should instead foster homegrown aircraft.

Two C919 and three ARJ 21 jets, which were developed by Commercial Aircraft Corp of China (COMAC), debuted at the Singapore Airshow.

Chinese experts said that the large-scale participation showcased China's strong confidence in its commercial aircraft. China is able to manufacture and start the market operation of domestic commercial aircraft.

A total of four C919 jets have been delivered and safely carried more than 110,000 passengers since the plane made its maiden commercial flight on May 28, 2023. Mass production and the development of the series are both going smoothly, per the COMAC statement.

Chinese experts also said that this year will be a key period to speed up mass production and deliveries of the C919, and for COMAC to integrate the industry, supply and innovation chains for the airliner while expanding in the overseas market.

Airbus has always been committed to being a long-term reliable partner of the Chinese aviation industry, the company said in a statement to the Global Times, adding that its expanding industrial footprint around the country fully demonstrates its respect and commitment to China.

"We commit to win-win cooperation with China's aviation industry and will continue to work with its Chinese partners to promote the high-quality development of China's aviation industry, meanwhile setting a role model for economic and trade exchanges between China and Europe while building bridges of communication between the two sides," it noted.

China and the US have maintained communication through bilateral and multilateral channels on debt issues, and China is willing to work with all sides to continue making efforts to ease the debt of developing countries, Mao Ning, spokesperson of the Ministry of Foreign Affairs of China, said on Friday.

The remarks were made in response to reports on the two countries' discussion on new measures to prevent a wave of emerging market sovereign debt defaults.

Chinese experts said that the bilateral cooperation over this debt issue could potentially lead to a new breakthrough in cooperation between China and the US, especially as the bilateral relations were often characterized by confrontation rather than cooperation due to US targeted policy.

Speaking at a regular press conference on Friday, Mao said that as a matter of principle, China has always attached great importance to the debt issue of developing countries. Adhering to the principles of equality, consultation, cooperation, and mutual benefit, China has consistently worked to help alleviate the debt burden of developing countries and promote sustainable development, the spokesperson said.

China has actively participated in initiatives such as the G20 Debt Service Suspension Initiative and other cooperative frameworks, she added.

According to Bloomberg's report on Friday, the US and China are discussing new measures to prevent a wave of emerging market sovereign defaults, citing people familiar with the matter, a move that the media described as "one of the most significant attempts in years at economic cooperation" between the two countries.

The talks - including ways to pre-emptively extend loan periods before countries miss payments - are broadly aimed at both easing the $400 billion-plus annual debt service burden for poor countries and finding an alternative to the high borrowing rates those nations now face in the market, according to the media report.

Cooperation between China and the US on the debt issue not only helps to reduce the risk of defaults in developing countries but also sends a stronger signal to the global market on the urgent need of recovery from the pandemic, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Friday.

Both China and the US share common responsibilities and interests on this issue. A major upheaval in global finance could have significant negative implications for the economies of both countries and global development as a whole, Zhou said.

The cooperation would include alleviating repayment pressure on debts and avoiding concentrated debt maturity, Zhou said.

While both China and the US are major financial markets and therefore hold responsibilities in helping to tackle the debt issue of developing countries, experts said that the US is more important regarding this matter due to its greater obligations, given the fact that the surge in defaults in emerging markets is related to the US Federal Reserve's relentless interest rate hikes.

Due to the generally fragile nature of emerging market economies, their relatively simplistic industrial structures and lower resilience to risks, they are much more vulnerable in the face of the Federal Reserve's aggressive interest rate hikes, Hu Qimu, a deputy secretary-general of the digital-real economies integration Forum 50, told the Global Times on Friday.

Against this context, the US has more responsibilities and obligations from a historical perspective, while China's efforts in helping to tackle the debt issue are more about risk prevention and control, and its commitment to helping developing countries achieve sustainable development as the world's second largest economy, Hu said.

China and the US have intensified interactions recently in economic sectors. The third China-US Economic Working Group meeting was held recently in Beijing, where officials of the two countries had in-depth, candid, pragmatic and constructive exchanges on the macroeconomic situation and policies, G20 financial cooperation, debt of developing countries, industrial policies and other issues, according to a statement by the Chinese Ministry of Finance on February 2.

Experts said that this positive trend offers much-needed reassurance for businesses in the two countries as well as the international community, amid rising global challenges.

The bilateral cooperation in tackling the debt issue could potentially result in a new breakthrough in cooperation between China and the US, experts said.

In recent years, economic and trade cooperation between China and the US has been characterized by a predominance of confrontation, failing to reach consensus in the economic domain, Hu said.

The significance of reaching consensus between the two major economies in this matter lies not only in the issue itself but also highlights cooperation in broader economic sectors such as interest rates, exchange rates and credit projects, in addition to traditional areas such as climate cooperation and counter-terrorism, according to Hu.

Despite the disagreements between the two countries over some key matters such as technology, we should actively seek cooperation when necessary and not let differences deter us from collaboration, Zhou said, noting that "failing to cooperate would be detrimental to all parties involved."