The Chinese Embassy in Sweden refuted on Friday the erroneous remarks made by some Swedish politicians related to China on the Russia-Ukraine conflict, South China Sea issue and Taiwan question. The Chinese Embassy urged Sweden not to mirror China with the template of "a major country must be hegemonic," not to misjudge China by the trajectory taken by the Western powers, and not to fabricate false narratives designed to smear China.

According to the embassy, some Swedish politicians have stated that if Russia wins in its conflict with Ukraine, it will “encourage China to seize territory from other countries.” They also smeared China by claiming that the Philippines and Vietnam “are facing pressure from China” in the South China Sea, and that the island of Taiwan “is at risk of invasion” from mainland.

The Chinese Embassy refuted the attacks, clarifying that the Swedish side's remarks are filled with Cold War mentality and ideological prejudice, making baseless accusations and attacks targeting China, which China strongly protests and firmly opposes.

It is known to all that China has adhered to the path of peaceful development, has never aggressed against any country, never interfered in the internal affairs of other countries, and never undermined the sovereignty and territorial integrity of other countries. China has always been committed to an independent foreign policy of peace, adhered to developing friendly cooperation with other countries on the basis of the Five Principles of Peaceful Coexistence, and firmly pursued the strategy of openness, development and mutual benefit. China is not a threat to any country, but a force for peace and stability in the international community, a spokesperson from the Chinese Embassy said.

The spokesperson reiterated that there is only one China in the world, and Taiwan has never been a country, but an inseparable part of Chinese territory. The one-China principle is a universal consensus in the international community and a basic norm in international relations, and it is also the political foundation for China to establish and develop diplomatic relations with all countries, including Sweden. 

The Taiwan question and the Ukraine issue are fundamentally different and cannot be compared, said the spokesperson, noting that the Taiwan question is China's internal affair, while the Ukraine issue is a dispute between Russia and Ukraine as two separate countries. 

The spokesperson added that equating the Taiwan question with the Ukraine issue is tantamount to distorting the cross-Straits relations as relations between two countries, creating "two Chinas" or "one China, one Taiwan," which is essentially challenging the one-China principle, undermining China's sovereignty and territorial integrity, interfering in China's internal affairs, and seriously violating international law and basic norms of international relations.

China urged the Swedish side to fully recognize the seriousness and sensitivity of the Taiwan question, earnestly adhere to the one-China principle, stop spreading irresponsible false statements, and take actions conducive to the stability of the Taiwan Straits and the development of world peace, the spokesperson said.

On the South China Sea issue, the Chinese Embassy noted that the matter is between China and several ASEAN members, and that China insists on negotiating and resolving maritime disputes with the directly involved parties, while firmly opposing to any maritime infringements and provocations. 

With the joint effort of China and ASEAN members, the overall situation in the South China Sea remains stable. China is willing to continue working with ASEAN members to build the South China Sea into a sea of peace, friendship, and cooperation, the spokesperson said.

“We urge countries outside the region, including Sweden, to play a constructive role in maintaining regional peace and stability, and not to provoke trouble or become disruptors and troublemakers in the South China Sea,” the spokesperson noted.

After the British Union Jack, which had flown over Hong Kong for more than 150 years, was lowered for the last time on June 30, 1997, terms such as "Her Majesty" and "Governor," which had persisted in various Hong Kong laws, finally made their exit on Wednesday. 

Some legal representatives in the Hong Kong Special Administrative Region (HKSAR) hailed it as necessary legal reforms to remove such outdated colonial references and fill gaps in the law.

The Legislative Council (LegCo) of the HKSAR passed the Statute Law (Miscellaneous Provisions) Bill 2024 in its third reading, officially removing terms like "Her Majesty," "Governor," from the legal texts of several Hong Kong laws.

The bill is divided into 15 parts, with the most notable being Part 14, which concerns amendments made for legal adaptation, according to media reports.

The modifications in Part 14 include replacing "Her Majesty, her heirs and successors" with "the Central People's Government or the Government of the HKSAR in accordance with the Basic Law and other laws"; "Governor" with "Chief Executive"; and "Governor in Council" with "Chief Executive in Council." 

In an interview with Yangcheng Evening News, Deputy Secretary for Justice of HKSAR government Cheung Kwok-kwan said that the Part 14 was proposed by different policy bureau of the Hong Kong government, including the Department of Justice, suggesting amendments to various expressions and provisions in statutory laws. Most of the proposed amendments are of a terminological or technical nature. 

The purpose of the legal adaptation amendments is to ensure that certain provisions or expressions in ordinances and subsidiary legislation in force before July 1, 1997, conform to the Basic Law of Hong Kong and reflect Hong Kong's status as a SAR of the People's Republic of China, appropriately mirroring the policy intentions of the relevant policy bureau.

"The issue of inaccurate legal terminology has existed for many years and should have been addressed long ago," Chan Man-ki, a deputy to the National People's Congress and a member of the LegCo, wrote to the Secretary for Justice of the HKSAR government and the Chairman of the Legislative Council's Panel on Administration of Justice and Legal Services in September 2022, urging the acceleration of the "decolonization" of local laws. 

On Wednesday, Chan Man-ki told Yangcheng Evening News that the long-term presence of colonial-era legal provisions in Hong Kong posed a significant obstacle to the implementation of patriotic education. 

This amendment directly adapts expressions that do not conform to the constitutional status of the HKSAR, such as deleting terms like "Her Majesty" and "Governor," and this amendment effectively and swiftly implements the "decolonization" of local laws, correctly reflecting the constitutional order of the HKSAR, Chan was quoted as saying in the media report. 

"I believe this amendment will enable Hong Kong's local laws to keep pace with the times," Chan said. 

Willy Fu, a law professor who is also director of the Chinese Association of Hong Kong & Macao Studies, welcomed and supported the second and third readings of the bill.

27 years after Hong Kong's return to the motherland, it is necessary to undertake legal reforms to remove these outdated colonial references and fill gaps in the law, Fu said, noting that this is a necessary and appropriate measure that deserves support. 

Hong Kong residents should set aside their colonial nostalgia, unite, and fully support the SAR government's lawful administration. By relying on the motherland and connecting with the world, Hong Kong can leverage its unique advantages, integrate into the national development agenda, boost the economy, pursue development, and benefit people's livelihoods, Fu noted. 

"Hong Kong can achieve a renaissance, faithfully implementing One Country, Two Systems and steadfastly maintaining its prosperity and stability. The future of Hong Kong will certainly be brighter," he said. 

Terms such as "Her Majesty," "royal family," and "loyalty" might lead to misunderstandings that Hong Kong has not fully returned to the motherland in many aspects, potentially forming long-term misconceptions about One Country, Two Systems, Priscilla Leung, Chairperson of the LegCo's Bills Committee, was quoted as saying in media reports on Wednesday.  

Hong Kong was a member of an international treaty in 1989, but has since ceased to apply the relevant regulations. Revising them after 35 years is hard to accept, and Leung said that she hopes that all departments will expedite their work to complete the adaptation process as soon as possible.  

China's Shandong aircraft carrier group reportedly started its first far seas exercise of the year after it was spotted on Tuesday operating in the West Pacific, where another group of Chinese and Russian warships are conducting a joint maritime patrol.

Amid Taiwan Straits and South China Sea tensions, as well as the US-led RIMPAC 2024 exercise that blatantly targets China, Chinese naval activities, not aimed at any other country, serve to enhance combat capabilities and deter unstable security factors, experts said on Wednesday.

The Chinese People's Liberation Army (PLA) Navy's aircraft carrier Shandong, the Type 055 large destroyer Yan'an, the Type 052D destroyer Guilin and the Type 054A Yuncheng were spotted sailing in the Philippine Sea on Tuesday, the news website of the US Naval Institute reported on the day, citing a news release from Japan's Ministry of Defense Joint Staff.

The Japanese news release said that the Shandong was observed conducting flight operations with its fighter aircraft and helicopters.

The Chinese aircraft carrier group was spotted sailing in the South China Sea near the Philippines in June, and analysts said that the carrier likely sailed from the South China Sea via the Bashi Channel to the south of the island of Taiwan into the Philippine Sea in the West Pacific.

A release by the defense authority on the island of Taiwan said that it spotted 37 PLA aircraft of various types around the island conducting air-sea joint training along with the carrier Shandong and other PLA Navy vessels on Wednesday.

It marks the first time the Shandong has embarked on a far seas exercise beyond the first island chain this year, observers noted, further mentioning that they are looking forward to seeing if the carrier will make new breakthroughs in terms of training intensity, new tactics practiced and new locations reached.

The aircraft carrier Shandong and its escorts are not the only PLA Navy warships currently operating in the West Pacific.

Citing the Russian Pacific Fleet, Russian News Agency Tass reported on July 4 that the Russian corvette Sovershenny joined the PLA Navy's Type 052D destroyer Yinchuan, Type 054A frigate Hengshui and Type 903 replenishment ship Weishanhu at a designated meeting point to commence the fourth joint Russia-China maritime patrol in the Asia-Pacific region since 2021 to bolster naval cooperation and maintain peace and stability.

The joint group is set to conduct anti-submarine and air defense drills and practice search and rescue measures at sea during their joint patrol, Tass reported.

The China-Russia joint group was spotted entering the West Pacific from the East China Sea via the Osumi Strait from July 4 to 5, according to Japan's Ministry of Defense Joint Staff.

Additional PLA Navy warships, including the Type 055 large destroyer Lhasa, the Type 903A replenishment ship Kekexilihu, the Type 052D destroyer Kaifeng and Type 054A frigate Yantai, also entered the West Pacific by July 1. They first entered the Sea of Japan from the East China Sea via the Tsushima Strait, then entered the West Pacific via the Tsugaru Strait, two separate news releases by Japan's Ministry of Defense Joint Staff said.

China has yet to officially announce these naval activities. Observers wonder if there is a link between the aircraft carrier Shandong's far seas exercise and the China-Russia joint patrol, reflecting on possible training objectives, and where the warships would travel to, considering the ongoing security tensions over the Taiwan question and the South China Sea issue, and that the Chinese and Russian naval activities are coinciding with the US-led RIMPAC exercise being held around Hawaii Islands, with China believed to be set as an imaginary enemy.

Zhang Junshe, a Chinese military expert, told the Global Times on Wednesday that the China-Russia joint maritime patrol has become regular occurrence, and such activities can further consolidate the strategic mutual trust between the two countries and the two militaries.

It is not impossible that the Shandong carrier group and the China-Russia joint group join force in the West Pacific waters to conduct mock confrontation drills or joint defense drills, Zhang said.

In addition to traditional areas such as the East China Sea, the West Pacific and the North Pacific, it cannot be ruled out that the groups could sail to regions farther away, such as the East Pacific and South Pacific, which completely conforms to the international law and practices, Zhang said.

The Chinese drills combined with the China-Russia joint patrol are completely different from the US-led RIMPAC exercise, as they are not targeted at any other country. The RIMPAC, on the other hand, is obviously simulating a scenario in which the US militarily interferes in the Taiwan question in case of a conflict, analysts said.

Another Chinese military expert, who requested anonymity, told the Global Times on Wednesday that while the PLA Navy's exercises and drills are prescheduled and are not related with the ongoing situations, they contribute to regional peace and stability by deterring unstable factors and provide strategic power balancing.

The goal of any exercise should be enhancing combat capabilities and safeguarding national sovereignty, territorial integrity, security and development interests, the expert said.

The Philippines, Vietnam and Malaysia have enhanced their infringement in the islands and reefs they illegally occupied in the South China Sea, according to a report Chinese think tank Grandview Institution released on Tuesday. Experts from the institution also warned of increasing illegal resupply activities by the Philippines to the illegally grounded warship in the South China Sea in 2024.

In recent years, China’s land reclamation and deployment of defensive military facilities on the islands and reefs in the South China Sea, out of its concern for maintaining national sovereignty and security, have been hyped up by the Western media as a testimony of the alleged "China threat" theory. Thereafter, the US and other extra-regional countries have been intensifying their interference, especially military interference, in the South China Sea issue. Their intervention has further worsened the maritime security environment in China’s periphery. In sharp contrast, the Western media turns a blind eye to the fact that Vietnam, the Philippines and Malaysia have occupied more than 40 islands and reefs in the Nansha Islands over the past four decades, and kept expanding land area, building facilities and deploying military capabilities on some of these islands, read the report.

In particular, Vietnam and the Philippines have further intensified their construction activities on occupied islands and reefs since 2022. Vietnam has carried out large-scale land reclamation on several islands and reefs, increasing the land area by three square kilometers, far exceeding the total construction scale of the past forty years. The Philippines has frequently attempted to reinforce its construction on the illegally grounded warship at the Ren'ai Jiao (Ren'ai Reef).

These actions have complicated and escalated the disputes, and have had an impact on peace and stability, the report said.

On May 9, 1999, the military vessel BRP Sierra Madre illegally intruded into China's Ren'ai Jiao, or what the Philippine side calls as the Second Thomas Shoal, running aground due to purported "technical difficulties."

According to the report, the vessel Sierra Madre has been grounded in the Ren'ai Jiao for a long time with over ten Filipino soldiers stationed and this has constituted actual encroachment of the Ren'ai Jiao. The Philippine military's Western Command is responsible for commanding the grounded troops and the Philippine Navy sends ships to resupply the grounded troop.

In 2022, the Philippine Navy conducted 11 illegal resupply activities to the Ren'ai Jiao, while in 2023, the number increased to 14 with more disguised approaches, according to the report.

Liu Xiaobo, director of the ocean research center of the Grandview Institution, told the Global Times that, before 2023, the Philippine Navy supplied the grounded military vessel once a month, but after that, the number of illegal resupply activities increased.

The current trend shows that the illegal supply actions in 2024 will continue to increase, according to Liu. "In order to reduce sensitivity, the Philippines has rented civilian ships - instead of sending military vessels - to supply the stranded ship under the escort of coast guard ships, but the Philippines has been reportedly taking advantage of the opportunity of resupplying troops to transport illegal construction materials to the grounded ship and China firmly opposed such attempt."

In addition, the Philippines currently invites international media to board transport ships and openly hype up China's so-called "interception actions" against them in order to gain sympathy and support from the international community. However, images accompanying the report show that compared to before, the main deck of the vessel Sierra Madre as been partially reinforced and renovated in 2023, indicating that the Philippines had secretly transported building materials long ago.

The report also points out that the Philippines has enhanced construction on the islands it occupied in the South China Sea. Apart from Ren'ai Jiao, the Philippines has illegally occupied eight islands and reefs in China's Nansha Islands, namely, Mahuan Dao, Feixin Dao, Zhongye Dao, Nanyao Dao, Beizi Dao, Xiyue Dao, Shuanghuang Shazhou, and Siling Jiao. In June 1978, it unilaterally went beyond its territorial scope to set up the so-called "Kalayaan Island Group," which violates China's territorial sovereignty.

Before 2022, the Philippines conducted less construction on the occupied islands and reefs. But in March 2022, the Philippines built a new helicopter landing pad on the Mahuan Dao; and in May of that year, the Philippine Coast Guard established command observation stations on the Mahuan Dao and others. These command observation stations monitor surrounding vessels and report information to the Philippine Coast Guard headquarters, according to the report.

In January 2024, Manila's military chief Romeo Brawner told media that the Philippines would develop islands in all the nine islands and reefs in the South China Sea that it considers part of its territory to make them more habitable for troops.

The Philippines Coast Guard recently claimed that China was attempting to build an "artificial island" in the Ren'ai Jiao. In response, Chinese Foreign Ministry spokesperson Wang Wenbin said at a press conference on Monday "the Philippines has repeatedly spread rumors, deliberately vilified China and tried to mislead the international community. None of those attempts will succeed."

Wang also urged the Philippines to stop making irresponsible remarks, face up to the facts and return to the right track of properly handling maritime disputes through negotiation and consultation.

Liu believes the Philippines will continue to advance its confrontational South China Sea policy in 2024. He points out that main factors contributing to the escalation of the disputes between China and the Philippines over the South China Sea include the pro-US stance of the Marcos government, the increased assistance from the US and its allies to the Philippines, as well as the joint defense commitment of the US-Philippines Mutual Defense Treaty that backs and encourages the Philippines' provocative actions of encroachment.

In addition, the Philippines has strengthened its maritime military capabilities in recent years, providing it with confidence, Liu said. But ASEAN countries will continue to be important forces in maintaining peace and stability in the South China Sea with China as resolving disputes through peaceful means and maintaining regional peace and stability remains a consensus between ASEAN countries and China despite the differences in their concerns and positions on the South China Sea issue, Liu noted.

Under the strategic guidance of their top leaders, China and Russia saw economic and trade cooperation overcome a complex external environment to make steady progress during the recent years.

Chinese observers said China-Russia trade and economic cooperation offers great potential, as bilateral trade is forecast to reach $300 billion in 2025, and their cooperation in sectors such as agriculture and renewable energy generation bring new opportunities.

However, the US' groundless accusation against normal China-Russia economic and trade relationship, as well as the US' imposing sanctions on selected Chinese companies has stirred up more troubles, negatively impacting global flow of logistics and trade settlement, industry insiders said.

They noted that the US' pursuit of power play and hegemony in international affairs cannot hold back the global trend toward a multi-polar world.

Normal trade exchange

During recent years, trade between China and Russia has been expanding rapidly, while commodity structure optimization is ongoing. In 2023, bilateral trade between the two nations reached $240.1 billion, a historical high, achieving the established trade target of more than $200 billion ahead of schedule.

In the first four months this year, the trade volume between China and Russia grew by 4.7 percent year-on-year to reach $76.58 billion, according to latest data released by Chinese Customs.

Now, China-Russia oil pipeline and China-Russia east-route natural gas pipeline are operating at high capacity, and the number of freight containers transported through Heihe-Blagoveshchensk road bridge and Tongjiang-Nizhneleninskoye cross-border railway bridge continues to grow. And, the cooperation projects in energy, aviation and aerospace are being boosted steadily.

The scope and quality of China-Russia cooperation see constant improvement, Chinese Commerce Ministry official Liu Xuesong said at a news conference on May 6.

"Based on equality and mutual benefit, the economic and trade exchanges between China and Russia are normal and conforms to rules of international trade. It serves the interests of both peoples and the world at large," Song Kui, president of the Contemporary China-Russia Regional Economy Research Institute, told the Global Times on Wednesday.

Given the strong momentum of China-Russia relations, it's projected that bilateral trade volume will reach $300 billion in 2025, Song said.
In March 2023, China and Russia signed a joint statement on a Pre-2030 Development Plan on Priorities in China-Russia Economic Cooperation, underscoring both sides' commitment to improve the quality and structure of rapidly expanding economic and trade cooperation.

As part of the celebrations marking the 75th anniversary of the establishment of diplomatic relations between China and Russia this year, the 8th China-Russia Expo is being held in Harbin, Northeast China's Heilongjiang Province. The event fosters extensive discussions and negotiations between the two countries.

"By attending the expo, we aim to break into the Russian market this year. Russian people have a strong interest in traditional Chinese medicines (TCM), which provides a sound basis for the exports of our products," Gao Yuan, a manager from Shanxi Zhendong Pharmaceutical Co, which is engaged in the research and development of TCM, told the Global Times on Wednesday.

Gao said the great potential of China-Russia economic and trade relations gives a boost to the company's sales in Russia market.

As Russia continues to improve its infrastructure and local business environment, with policy rollouts to boost goods export and find more import substitutes, Chinese companies could move to further tap the Russian market, Chen Zhigang, director general of the Russian-Chinese Business Park in St. Petersburg, told the Global Times on Wednesday.

False accusations rejected

However, against the backdrop of the ongoing Russia-Ukraine conflict, the US continues to assault normal China-Russia trade, and has imposed sanctions on selected Chinese companies. The US Commerce Department recently announced a decision to add 37 Chinese entities to the country's export control "entity list."

China categorically rejects US' groundless accusations over the country's keeping normal economic relations with Russia, Chinese foreign ministry spokesperson Wang Wenbin said on April 23.

China's right to conduct normal trade and economic exchanges with Russia and other countries should not be interfered or disrupted. China's legitimate and lawful rights and interests should not be infringed on, the spokesperson said.

"The US' imposing economic sanctions on other countries for its own interests are typical examples of economic hegemony and American bullying," Song said.

But, the US' pursuit of hegemony in international affairs will not impede the trend toward a multi-polar world, Song said, noting that the US' unreasonable sanctions on other countries will erode the US dollar's dominant position in the world.

Given the financial sanctions imposed by the West on Russia, China and Russia should work to ensure that their bilateral trade is safe from the sanctions. More cooperation in the financial field, or within the BRICS countries, or between member states of the Shanghai Cooperation Organization, should all be explored, Chen said.

In an exclusive interview with the Global Times in April, South African Ambassador to China Siyabonga Cyprian Cwele said the BRICS are promoting the progress of its common currency, while actively promoting the use of local currencies from member states to reduce the risks of relying on the US dollar.

Song said more China-Russia trade is expected to be settled in Chinese yuan in the future. By taking advantage of platforms like the China-Russia Expo, the two countries could ramp up regional and corporate communications to deepen cooperation, he said.

The Samaranch Cup Junior Tennis Challenger 2024 ASICS Tennis Junior Tour Guangdong-Hong Kong-Macao was officially unveiled in China's Hong Kong Special Administrative Region on May 11 and Macao Special Administrative Region on May 12. As an original competition of ASICS, the Tennis Junior Tour has received widespread attention and recognition since its launch in 2022 as it provides a professional competition platform and communication opportunities for young people who love tennis. This year, the competition is linked to the Guangdong-Hong Kong-Macao Greater Bay Area, gathering outstanding young tennis players from all over the country to swing for their dreams.

This year, the ASICS Tennis Junior Tour has been officially upgraded to a Class B event in China Tennis Junior Tour. This tour will compete over four rounds to select multiple outstanding young players, while the finals will be held in Shanghai in October. As the main organizer, ASICS places great emphasis on upgrading and building the entire event experience and has spared no effort to provide professional event platforms and high-quality participation services for domestic tennis youth for three consecutive years. In addition, this year's tour also specially invited Yang Weiguang, former head coach of the national team and chief of the coaches for the Tokyo Olympics, to serve as the coach of the Hong Kong Masters Training Camp, providing professional technical guidance to participating athletes. At the same time, ASICS-signed athlete Yang Zhaoxuan and Wang Kangyi have been invited to interact with young people on site to enhance their enthusiasm for competition.

At the opening ceremony, ASICS also officially launched the "Dream Voices" program, which will collect the sports dreams of participants during this year's competition and help more young people realize their dreams on the tennis court with brand's resources and equipment. Moreover, the Samaranch-ASICS Xiangyang Foundation also awarded special funds for youth tennis exchange to the Hong Kong, China Tennis Association and the Macau Tennis Association. The two sides will work together in the future to support the development and exchange of youth tennis in the Guangdong-Hong Kong-Macao Greater Bay Area. At the same time, the Hong Kong, China Tennis Association and the Macau Tennis Association also awarded ASICS the title of "Strategic Partner," injecting sustained momentum into the development of youth sports through joint efforts from multiple parties.

Tsuyoshi Nishiwaki, senior managing director of ASICS Greater China, said, "ASICS has always been focused on the sports and health development of Chinese youth, and hopes to inspire more young people's interest and love for tennis and sports through hosting such competitions, promoting their physical and mental health. In the future, ASICS will continue to increase investment in related competitions, provide more opportunities and platforms for young people, and inject more vitality into the vigorous development of the national health cause."

ASICS has always been based on the brand concept of "Sound Mind, Sound Body," and has helped promote the healthy development of Chinese youth by various means such as hosting high-quality sports events and collaborating with deep enterprise school cooperation. In March, ASICS officially launched the global campaign "Move your mind with ASICS" along with several running events, aiming to help the public strengthen their bodies and minds through exercise, encourage more people to enjoy a healthy lifestyle oriented by their hearts, and enjoy the motivation brought by sports.

In the future, ASICS will also promote the effective implementation of sports and education integration with higher quality event resources and more diverse cultural exchange activities, contribute brand strength to the construction of a sports powerhouse, and call on more people to participate in sports to "move their mind."

International financial institutions are increasingly upbeat on Chinese stocks, with the NASDAQ Golden Dragon China Index surging by 14.86 percent in the 10 trading days ended on Friday, the highest growth rate for a two-week period since January 2023. 

According to international financial giants including Morgan Stanley and Bridgewater Associates, the China market is a good place to diversify their investment portfolios and explore value, as international investors' interest in yuan-denominated assets is on the rise.

On Thursday, the index jumped by 6.01 percent, the highest daily increase since the end of July last year, data showed. Analysts said that an opportunity is emerging for medium- and long-term capital to flow into yuan assets, especially China's stock market.

Given the rollout of targeted policies to boost the high-quality development of the A-share market and the sustained recovery of China's economy, now is a good opportunity to invest in China's stock market and Chinese companies, Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Sunday.

He said the valuations of the A-share and Hong Kong stock markets are near record lows, and confidence and patience are needed to achieve long-term gains.

The Communist Party of China (CPC) Central Committee Political Bureau meeting, held on April 30, vowed to front-load efforts to effectively put the established macro policies in place, and well implement a proactive fiscal policy and a prudent monetary policy. 

Those policies will further promote an economic recovery and boost the development of China's stock markets, Yang said.

Since the beginning of 2024, global asset management companies have expanded their investment portfolios in China, boosted by their growing confidence in Chinese assets. 

"Global funds are returning to China stocks," Bloomberg reported in March, citing Morgan Stanley analysts.

Bridgewater Associates founder Ray Dalio posted on social media platform LinkedIn on April 1 saying that "[T]here is no such thing as a bad market; there is only bad decision making. I find the markets in China good for my type of decision making."

Recently, stocks in the Chinese mainland and the Hong Kong Special Administrative Region (HKSAR) staged a stunning rebound after the State Council, the country's cabinet, pledged measures to keep the stock market stable. 

The benchmark Shanghai Composite Index regained the 3,100 level at the end of April after diving to a multi-year low.

In the first quarter of this year, net inflows of northbound capital - overseas money flowing into China's A-share market through the HKSAR - reached 68.22 billion yuan ($9.65 billion), exceeding the total in 2023, the China Securities Journal reported, citing data from information provider Choice.

In April, the State Council released guidelines on strengthening regulation, forestalling risks and promoting high-quality development of the capital market. This was the third guideline document on the capital market from the State Council in two decades.

By strengthening supervision, and effectively preventing and defusing risks, the new guideline has made arrangements in areas including listings, transactions and the entry of long-term capital. This is expected to enhance fairness and efficiency in the A-share market and stimulate market vitality, Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University of China, told the Global Times.

The challenges faced by the A-share market are temporary and a bull market will eventually come, Dong said, noting that targeted policies and sound macroeconomic operations will inject new impetus into the capital market.

He said that more efforts are needed to strengthen regulations involving the major shareholders of listed companies, agencies, local governments and stock exchanges. In addition, diversified delisting channels are needed to protect the rights and interests of common investors during the whole process of delisting.

As the Hengqin-Macao multiple-entry visa policy took effect on Monday, Macao welcomed the first tour group from the Chinese mainland. The plan, launched by China's National Immigration Administration (NIA), was designed to enhance personnel and business exchanges between Macao and Hengqin, an island in Zhuhai, South China's Guangdong Province.

The policy will bolster tourism and trade, and shore up consumption in sectors such as tourism, dining and accommodation, not only in Macao but also across the entire Guangdong-Hong Kong-Macao Greater Bay Area (GBA). This process will drive local economic growth and accelerate the integration of the GBA, experts said.

The 16 members in the first tour group primarily came from mainland provinces such as Guangdong, Hubei, Shaanxi and Shanxi. The group has a three-day, two-night itinerary spanning Macao and Zhuhai, with two entries into Macao scheduled during the journey, according to a statement the Hengqin authorities sent to the Global Times on Monday.

The implementation of the visa expansion policy is poised to facilitate business cooperation in tourism, exhibitions and other sectors between the two sides, a local official from Hengqin said on Monday during the welcome reception for the tour group. The official stressed that "it will bolster Macao's position as a global tourism hub and expedite Hengqin's transformation into an international leisure destination." 

Against the backdrop of China's high-level opening-up, exchanges between the Chinese mainland and Macao hold great significance. Serving as an international commercial hub, cooperation with the mainland enables both sides to share resources and advantages, Liang Haiming, chairman of Hong Kong-based China Silk Road iValley Research Institute, told the Global Times on Tuesday.

At the end of April, China's NIA announced new entry-exit regulations to streamline residents' trips outside the mainland. Among the highlights was permission for mainland visitors who join Hengqin-Macao tour groups to make multiple trips between Hengqin and Macao within seven days. 

The sweeping policy package includes full online processing for renewing travel documents within seven days and intelligent expedited processing for business visas, allowing extended stays in Hong Kong and Macao of up to 14 days. It also offers more visa options for professionals working in Macao, with stays of one to five years, according to the NIA.

The robust measures represent a comprehensive overhaul of local tourism strategies, Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office, said on Monday. The moves will bolster the hospitality sector as well as food and beverage operations, alongside related services, Macao Daily Times reported on Tuesday.

As anticipated, the policy sparked widespread responses in related sectors. Macao-owned enterprises based in Hengqin expressed great optimism about the policy, which is expected to prioritize travelers' options for tourism products. They believe that the Guangdong-Macao in-depth cooperation zone in Hengqin can serve as a supplement to Macao's tourism resources to meet diverse market demands.

Multiple travel agencies have sought guidance on the criteria and processes for obtaining qualifications, according to Hengqin's statement. The cooperation zone will evaluate the number of agencies in line with regulations and announce assessments in stages.

The integrated development of the GBA is on a fast track. During the just-concluded five-day May Day holidays, Hong Kong witnessed a tourism surge, with mainland visitors exceeding 750,000, official data showed. Macao received an average of 120,879 visitors daily, a figure described by Senna Fernandes as "quite good" given the stormy weather during the holidays.

China's central authorities issued a general plan in 2021 for building a Guangdong-Macao in-depth cooperation zone in Hengqin, which is expected to be a major arrangement to enrich the practice of One Country, Two Systems, and serves as an important driving force for Macao's long-term development.

China's imports and exports roared back to growth in April after a significant drop in the previous month, according to official data on Thursday, and the strong data add to growing signs that the world's second-largest economy remains on a steady recovery trend despite lingering challenges at home and abroad. 

The strong trade data underscored the resilience of China's trade sector, with growth in exports pointing to the country's unshakable role in global supply chains, while the expansion in imports highlighted strong domestic demand, experts said. With the country's laser-like focus on the economy through a slew of stimulus measures, China's economic recovery will continue to consolidate and is on track to meet annual growth targets, they noted. 

In April, in US dollar terms, total imports and exports surged 4.4 percent year-on-year, reversing a 5.1 percent drop in March, according to the General Administration of Customs (GAC) on Thursday. Notably, exports expanded by 1.5 percent year-on-year in April, compared to a 7.5 percent contraction in the previous month, while imports jumped by 8.4 percent year-on-year, reversing a 1.9 percent decline in March, the GAC data showed.

"First-quarter trade data were dragged down by the drop in March due to a high base in March 2023. And April's data more accurately reflected the development trade in China's import and export sectors," Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Thursday. 

Zhou said that the trade data demonstrated the steady recovery trend of the Chinese economy supported by a strong rebound in the trade sector in the first four months of 2024. 

During that period, in Chinese yuan-denominated terms, China's total imports and exports expanded by 5.7 percent year-on-year, accelerating from a 5 percent growth in the first quarter of the year, according to the GAC.

In terms of top trading partners, China's imports and exports with the Association of Southeast Asian Nations, better known as ASEAN, its largest trading partner, jumped by 8.5 percent year-on-year from January to April. Imports and exports with the EU, the second-largest trading partner, dropped by 1.8 percent year-on-year, while that with the US, the third-largest trading partner, grew by 1.1 percent year-on-year.

Moreover, among the highlights of Thursday's data are the robust growth in exports by private enterprises and exports of mechanical and electrical products - both major growth drivers. Private firms' total exports expanded by 9 percent year-on-year in the first four months in yuan terms, accounting for 64.7 percent of China's total export value. Exports of mechanical and electrical products grew by 6.9 percent, accounting for 59.2 percent of China's total export value, according to the GAC.

Momentum to last

The strong figures for the January-April period also reflected China's strong competitiveness and prominent role in the global industrial and supply chain, Zhou noted. "If there are no major 'black swan' events in the future, and there are no policies and actions that significantly interfere with trade activities, trade will still maintain a sustained recovery," he said.

While the growth in exports highlighted China's unshakable role in global trade, the expansion in imports accentuated the strong recovery in China's domestic demand, which is key to the overall economic recovery, according to experts. 

"In the previous two years, the growth rate of imports was relatively low, and the total import and export volume was mainly supported by exports, reflecting insufficient domestic demand, Hu Qimu, a deputy secretary-general of the digital-real economies integration Forum 50, told the Global Times on Thursday.

"But vis-à-vis this year's data, the growth rate of imports is higher than that of exports, indicating that domestic demand is recovering and the overall internal circulation is becoming smoother," Hu noted.

Hu said that China has moved swiftly to tackle systemic risks, consumption has been recovering steadily and operations of various industries have been improving significantly. 

The impressive trade data on Thursday come on the heels of a slew of indicators that showed a strong recovery momentum in the Chinese economy. In the first quarter of 2024, China's GDP expanded by 5.3 percent year-on-year, beating market expectations. Retail sales, a main gauge of consumption and the biggest economic growth driver, increased by 4.7 percent year-on-year.  

Such strong momentum in China's economic recovery is widely expected to further gather traction, as Chinese policymakers continue to step up policy support to boost the economy, experts said. 

The latest signal of strong policy support came from a meeting, held on April 30, of the Political Bureau of the 20th Communist Party of China Central Committee. Noting that the economy has secured a good start this year, the meeting called for various measures to further consolidate the recovery momentum, including front-loading efforts to effectively put the established macro policies in place and issuing ultra-long special treasury bonds at an early stage, according to the Xinhua News Agency. 

In terms of trade, the meeting called for efforts to actively expand trade in intermediate goods, service trade, digital trade, and cross-border e-commerce exports, and support private enterprises in expanding overseas markets.

Apart from policy support, the strong recovery in domestic consumption will help stabilize trade throughout the year, according to Hu. "The full-year trade will maintain a generally positive growth rate that is higher than that of last year," he said. 

Beyond trade, China's two other main economic drivers - consumption and investment - are also expected to maintain a strong recovery momentum, thanks to intensifying policy support, which will ensure that the full-year economic development goals will be met, experts noted. 

In spite of challenges both at home and abroad, China has set a GDP growth target of around 5 percent this year. With the growing positive signs, many experts are increasingly confident that China will be able to meet its 2024 GDP growth target, and the country will remain the main driver for global growth.

President Xi Jinping has stressed efforts to continuously break new ground in ideological and political education at schools in the new era.

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks in an instruction on the development of ideological-political courses for schools.

Xi said that the CPC Central Committee has always made developing ideological-political courses in schools a priority for education since the 18th CPC National Congress and the Party's leadership in this regard has been fully strengthened.

Developing ideological-political courses on the new journey of the new era should follow the guidance of the Thought on Socialism with Chinese Characteristics for a New Era, and the fundamental mission of fostering virtue should be carried out, Xi said.

He underscored the importance of developing a system of textbooks with a focus on the Thought on Socialism with Chinese Characteristics for a New Era, and integrating political education across all levels from elementary schools to universities.

Xi stressed the need for efforts to uphold fundamental principles and break new ground to develop ideological-political courses, and to make the courses more targeted and appealing.

He stressed that Party committees and leading Party members groups at all levels should make it a priority to develop ideological-political courses.

Schools of various types should consistently break new ground in ideological and political education in the new era, and foster talented individuals who are loyal to the Party, patriotic and dedicated, and capable of shouldering the mission of realizing national rejuvenation, he said.

Xi's important instruction was conveyed at a meeting on boosting the development of ideological-political courses for schools held in Beijing on Saturday. Ding Xuexiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting and delivered a speech.

Ding, who is also vice premier, called for thorough study and implementation of Xi's important instruction and urged continuous efforts to push forward the reform and innovation of ideological-political courses.

Stressing the importance of helping students better understand national conditions and consolidate their ideals and faith, Ding said the mechanism for guaranteeing proper status and salaries for teachers of the courses should be improved.