5 Things That Happened in China This Week (155) 8 November
Here are 5 things that happened in China this week.
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Xi Congratulates Trump
China’s President Xi Jinping extended congratulations to Donald Trump on his election as President of the United States. Xi urged the two countries to find the right way to get along in the new era, so as to benefit both countries and the wider world and added that history teaches that China and the United States gain from cooperation and lose from confrontation. He expressed hope that the two sides will uphold the principles of mutual respect, peaceful coexistence and win-win cooperation, strengthen dialogue and communication, properly manage differences and expand mutually beneficial cooperation. Chinese Vice President Han Zheng also extended congratulations to J.D. Vance on his election as Vice President of the United States.
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China's Top Legislature Starts Session
The Standing Committee of the 14th National People's Congress (NPC), China's top legislature, started its 12th session on Monday in Beijing. Zhao Leji, chairman of the NPC Standing Committee, presided over the session's first plenary meeting. Lawmakers reviewed a draft preschool education law, a draft revision to the Law on Protection of Cultural Relics, a draft revision to the Mineral Resources Law, a draft energy law, and a draft revision to the Anti-Money Laundering Law.
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China's Foreign Trade
China's foreign trade registered faster growth in October, according to data released by the General Administration of Customs (GAC). Total goods imports and exports expanded 4.6 percent year-on-year in yuan terms in October, up from the 0.7 percent increase in September. In the first 10 months, the country's foreign goods trade rose 5.2 percent from a year ago to 36.02 trillion yuan ($5 trillion), with exports up 6.7 percent and imports up 3.2 percent.
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China International Import Expo (CIIE)
The 7th edition of the China International Import Expo (CIIE), China's national-level expo dedicated to imports, opened in Shanghai. Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony stating that China had continued to walk the talk in expanding opening-up. China has reduced its overall tariff level to 7.3 percent, exceeding its target of 9.8 percent. China has also fully implemented all the opening-up measures announced at the previous six CIIEs, including scrapping all items in the manufacturing industry on the national negative list for foreign investment. Running until Nov. 10, the expo has attracted about 3,500 exhibitors from 129 countries and regions. It has also set a record with 297 Fortune Global 500 companies and industry leaders attending the event.
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Foxconn's New HQ
Foxconn, the world's leading electronics manufacturer and principal assembler of Apple iPhones, is set to build a new business headquarters in Zhengzhou, central China. The tech giant recently won a bid for a 2.84-hectare plot at 150 million yuan ($21.07 million) in the Zhengdong new district in Zhengzhou, capital of Henan Province, where it plans to build a headquarters focusing on key technology sectors, according to the Zhengzhou Public Resources Trading Centre. Foxconn said this initiative aligns with its "3+3" strategy targeting electric vehicles, digital health and robotics, along with advancements in artificial intelligence (AI), semiconductors and next-generation communication.
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Accomplish the great when it is small – Lao Tzu