PD Online commentary: China doesn’t need exaggerative news writing to build up confidence

There is no small matter when it comes to a media outlet’s style of writing.

The style of an article reflects the mindset and values of a certain society, and exaggerative or arrogant writing could easily twist people’s thinking and lead their values in the wrong direction.

Using phrases such as “world’s first” and “first of its kind in the world” are often seen in Chinese reporting. We should reflect on this generalized, willful and blindly optimistic thinking.

China has made extraordinary achievements in many fields which are, of course, worth being proud of. However, such progress is not helped along by arrogance. In the new media era, boastful reports have delivered fake information to billions of readers.

For instance, by making people believe that “China is number one”, these generalized and exultant articles could easily mislead readers and cultivate irrational thinking.

In the era of globalization, reports with headlines such as “China will act if the U.S. still doesn’t respond to its warnings” and “Don’t be afraid! China has overtaken the U.S. in tech capabilities” are actually tarnishing China’s global image instead of improving it.

For some people, China and its development bring an unparalleled sense of pride. But this pride is gained based on seeking truth from facts and making steady progress, instead of just writing grandiose articles.

It’s fair to say that instead of genuinely winning respect, such confidence and pride in a newspaper’s writing style will blind readers so that they won’t view development as it is truly happening.

China doesn’t require inflated reports to move forward or cheer up the nation. The country’s achievements are not untrue; they have been developed by the Chinese people under the central leadership of the Communist Party of China (CPC) in 40 years of reform and opening up, especially after the 18th National Congress of the CPC.

“Of all the political parties, countries, and people in the world today, none have as much cause to be confident as the CPC, the People’s Republic of China and the Chinese people,” general secretary of the CPC Central Committee, Xi Jinping, said during a speech on the 95th anniversary of the founding of the CPC.

Confidence in the path, theory, system and culture of socialism with Chinese characteristics is indeed what we need. This confidence shouldn’t need to be written; and the exaggerations, arrogance, and egoism will not withstand the test of time.

In the new era, we have to put an end to creating hype in news writing and make concrete efforts to realize our goals, such as building a moderately prosperous society and rejuvenating the nation.

China makes significant global contribution since WTO accession in 2001

China has made a significant contribution to the world since it joined the World Trade Organization (WTO) in 2001, People’s Daily Overseas Edition commented on July 4.

The country’s determination to further open up is once again indicated by a white paper titled “China and the World Trade Organization” released by its State Council Information Office on June 28.

17 years ago, China acceded to the World Trade Organization (WTO). This was a milestone in China’s integration into economic globalization, marking a new historic stage of reform and opening-up.

Over the last 17 years, China has been a driving force for world economic recovery and growth. The country’s entry to the WTO accelerated its own pace in reform and opening up as well as economic development, which in turn promoted the world economy in a powerful way.

In 2016, China totaled 14.8 percent of the world’s economy, 10.7 percent higher than in 2001. Since 2002, China’s average contribution rate to world economic growth has reached nearly 30 percent, making the country an important driving force in the recovery and growth of world economy.

In addition, China’s foreign trade development has brought benefits to the world since its entry to the WTO. Faced with unprecedented difficulties and challenges such as the global financial crisis, China took effective measures and managed to stabilize its foreign trade.

In 2017, China was the major trade partner of more than 120 countries and regions, and its import and export volumes respectively accounted for 10.2 percent and 12.8 percent of the world’s total.

The country’s import of services surged from $39.3 billion in 2001 to $467.6 billion in 2017, with an average annual growth of 16.7 percent. The figure was equivalent to nearly 10 percent of the world’s total services import volume.

Furthermore, China has attracted a huge amount of foreign investment and development. It has ranked first among developing countries regarding inbound foreign direct investment (FDI) for 26 consecutive years. China received $136.32 billion in FDI in 2017, up from $46.88 billion in 2001 when it first entered the WTO, growing 6.9 percent annually.

While foreign-invested enterprises have improved China’s economic quality and benefits, China have also rewarded them with profits through its own economic development.

In the meantime, China’s overseas investment and cooperation maintained sound development. It jumped into third place regarding global FDI flows in 2017, up from 26th place in 2001. Chinese capital and cooperation facilitated the technological advancement of investment destinations, improved local economy and created abundant jobs.

The public products China provides to the world are also a major achievement since the country entered the WTO. It proposed the Belt and Road Initiative, which will create opportunities and win-win results across the globe. It plays a significant role in the promotion of international and regional cooperation, and the protection and development of an open economy. It is also vital in making economic globalization open, inclusive, balanced, win-win and beneficial to all.

The first China International Import Expo (CIIE) is scheduled to open in November this year. Multiple international organizations and over 100 countries will participate in the event. The expo is believed to be an international public product that promotes the inclusive and mutually-beneficial development of the world.

It is estimated that China will import $24 trillion worth of goods in the next 15 years. The CIIE is expected to offer new opportunities for countries in exportation, build new platforms to share China’s development outcomes and inject new momentum to the global economy.

Facts prove that China pursues a mutually beneficial opening-up strategy, upholds the WTO’s principle of free trade and has lived up to its responsibilities as a major country in the process of opening-up. From its WTO accession in 2001 to the Belt and Road Initiative in 2013, China has embraced the world with open arms and become a key driver for world economy.

(The author is an international affairs observer)

Kitchen appliance company says World Cup refund strategy will not harm business

On July 4, Chinese kitchen appliance maker Vatti announced that its marketing strategy during the 2018 FIFA World Cup has substantially improved its terminal retail business and created better brand awareness, ThePaper reported.

Vatti is a sponsor of France’s national football team, currently competing in the World Cup. In June, the company announced that if France win the competition, all customers will receive a full refund if they purchased a specific set of “champion products” from June 1 to July 3.

The company announcement stated that this expenditure is included in the company’s annual budget and is a controllable company cost, so it won’t have a major impact on Vatti’s sales system or its annual profits.

The announcement came after some people doubted whether Vatti is prepared for the possible refund and therefore economic loss if the French team does indeed go on to win the World Cup.

The company has estimated that it will see sales amounting to around 700 million yuan during the competition, an increase of almost 20 percent since 2017; while the total refund cost would only be about 79 million yuan including sales made both on and offline.

Chinese fixed-wing UAVs exhibited in Beijing

The JY-1 medium-range fixed-wing UAV

Various Chinese-made unmanned aerial vehicles (UAV) were exhibited at the sixth China Military and Civilian Integration Expo, held in Beijing National Convention Center from July 2-4.

The JY-2 fixed-wing UAV

Among the UAVs exhibited, the JY-2 fixed-wing UAV, capable of vertical take-off and landing, alongside the JY-1 medium-range fixed-wing UAV which can be used on board a ship, were both on show.

China’s first AIP submarine unit breaks records

China’s first submarine unit using air-independent propulsion (AIP) technology recently broke a number of records set by the Chinese navy, Science and Technology Daily recently reported.

Records such as the longest sailing distance, maximum submergence depth and sinking target ships under boundary conditions were all broken by the unit.

Military commentator Zhang Haixiong disclosed that submarines equipped with AIP technology prolong operation duration underwater to about two or three weeks, indicating the increasing stealth of the submarines.

The time a conventionally powered submarine can spend underwater ranges from 10 to 100 hours, as they need to surface regularly to charge. However, submarines can be charged underwater if they are equipped with the AIP system.

Zhang noted that AIP submarines, with higher combat effectiveness, are second only to nuclear submarines, adding that although AIP submarines are more expensive right now, in the future they will become the conventional option.

China opens up more to achieve global win-win results

Chinese President Xi Jinping once pointed out that reform and opening-up is a great process that has seen China and other countries together achieve development and progress.

2018 marks the 40th anniversary of China’s reform and opening-up, and also the 17th anniversary of the country’s entry to the World Trade Organization (WTO). Over the past 17 years, China has deepened ties with the world, setting a great example regarding opening up.

Standing at a new start and under the guidance of the Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the country will accelerate its process of reform and opening up, improve multilateral trade mechanisms and enhance global trade liberalization and investment facilitation, to forge new international relations around win-win cooperation and create a community considering the shared future of mankind.

China’s entry to the WTO is a milestone on its journey of in-depth participation in economic globalization. It marks a new historical turning point of the country’s reform and opening-up.

Since 2001, China has created momentum for reform and development through opening up to the world. The country has participated in global economic cooperation and competition on a higher level and in a wider range to exploit the market. In addition, the country proactively improved the socialist market economy, conducted large-scale campaigns on law and regulation amendment, strengthened the market system and straightened its relationship between the government and market.

China comprehensively fulfilled its commitments to the WTO, further lowered market access for foreign investment, and enhanced efforts on intellectual right protection, comprehensively broadening its pattern on opening-up. Since China’s entry to the WTO, the country has achieved its own progress while contributing to global development.

When assessing China’s development, one should not only see what benefits the Chinese people have gained, but also the contribution China has made to the world, Xi said in his keynote at the 2017 World Economic Forum in Davos.

Between 2001 to 2017, China’s import of goods totaled $20 trillion and its import of services totaled $3.7 trillion. The country has created abundant opportunities regarding trade, investment and employment around the world, with an outward foreign direct investment amounting to $1.1 trillion and an inbound foreign direct investment of $1.6 trillion.

China has always adhered to equal consultation and win-win cooperation. It advocates for the building of an open world economy, supporting the greater influence of multinational organizations and speaking for a increased role of developing countries in international economic and trade affairs.

By proposing Chinese initiatives and schemes, China has contributed both wisdom and power to the global economic governance.The world is currently in a phase of both great development and change. The sluggish recovery of global economy, twists and turns of economic globalization, as well as rising unilateralism and protectionism all bring challenges to individual countries.

China will stick to its basic state policy of opening up, promote Belt and Road construction, and seek open, innovative, inclusive and mutually-beneficial development.

Globalization is an irreversible trend, and the multilateral trade mechanism built around the WTO is a foundation for global trade. China will continue to be a contributor, participator and protector of the mechanism, promoting development by further opening.

It is a strategic choice made by China based on its demand for development and also a practical action to benefit people around the world.

(The author is head of the Chinese Ministry of Commerce (MOFCOM) and secretary of the MOFCOM Party Leadership Group)

China firmly supports multilateral trading system

The white paper titled “China and the World Trade Organization (WTO)”, released last Thursday, shows that China is firmly supporting the multilateral trading system.

Global media commented that China has fulfilled its commitments, complied with rules and actively participated in the improvement of the multilateral trading system.

The multilateral trading system, with the WTO at its core, is the cornerstone of international trade, and has been playing a pivotal role in promoting global trade and building an open world economy. Director-general of the WTO, Roberto Azevêdo, recently pointed out that the world could see trade flow fall by 60 percent, with the global economy contract falling by 2.4 percent if the multilateral trading system is undermined.

The WTO, which regulates more than 98 percent of global trade flow, is one of the three pillars of the world economic system. It is of vital importance to global trade liberalization and investment facilitation.

Since it joined the WTO trade agreement, China has firmly supported the multilateral trading system, participating in all aspects of WTO work. China opposes unilateralism and protectionism, upholds the authority and efficacy of the multilateral trading system and contributes Chinese wisdom and schemes to the improvement of global economic governance. China is a major contributor, active participant and strong supporter of the multilateral trading system.

In order to liberalize and facilitate trade and investment, China has played an important role to bridge divides and build consensus. Since negotiations at the WTO’s first global trade agreement, China has always facilitated talks. The country has comprehensively participated in the deliberation of trading policies and made positive contributions to help developing countries integrate into the system.

China firmly upholds the authority and efficacy of the WTO rules through practical actions, supporting WTO members to solve their trade disputes within the WTO dispute settlement system.

By lodging complaints with the WTO, China redresses other members’ violations of obligation under the covered agreements, defending its own trade interests as well as the authority of WTO rules. China also actively defends any cases against it and respects the WTO rulings, making adjustments if necessary. Up to now, none of the complainants have requested for retaliation against China.

Chinese President Xi Jinping has signaled China’s support to the multilateral trading system and firm promotion of economic globalization on a number of occasions, and China’s guiding role has been highly praised by the international community.

Xi said “we should make economic globalization more open, inclusive and balanced so that it benefits different countries and people of different social groups.”

China is actively building an open world economy. It had signed 16 free trade agreements (FTA) with 24 countries and regions, alongside Belt and Road cooperation agreements with 80 countries and organizations.

China always advocates solving international trade problems through cooperation, dialogue and consultation on an equal footing, injecting positive energy into the sound development of global trade. The country’s efforts are especially valuable when specific developed WTO members violate WTO rules and give up their responsibilities as major powers.

A just cause should be pursued for the common good. China, in a new era, will continue to fulfill promises, actively participate in the building of the multilateral trading system and make efforts to expand the WTO’s influence in global economic governance, so as to make new contributions to the promotion of world trade development and the well-being of people around the world.

The white paper says that China and the multilateral trading system will stand together through thick and thin. China has chosen to embrace the world, which signals the synchronous progress of China and the world.

Luxury product rentals rise in China due to increase in sharing economy

Photo from VCG

Now you can rent super-duper expensive designer bags at a reasonable price in China, as the country’s sharing economy gradually stretches to the fashion world.

A woman named Dai Chen in Changsha, central China’s Hunan province, has just spent 25 yuan ($3.8) to use a Gucci handbag for one day via a designer bags rental platform.

Dai, who rented the bag for party-going, said that this innovation offered a better option than the pocket-emptying purchases of designer clothes or bags, and she could also enjoy using a wider variety of bags at an affordable price.

The industry has attracted a number of millennials, who follow the trends but don’t earn enough for such high-end purchases.

Designer bags and clothes are the two major products available on online luxury rental platforms. In addition, jewelry and watches are also available. These platforms offer hundreds of bags from Chanel, Hermes, Louis Vuitton, and Gucci, with rental prices ranging from tens to hundreds of yuan.

“I don’t have to clean the bags when I ship them back, and carrying a designer bag makes me more confident when I’m with my clients,” said Zhang Yuxuan, a registered user of a bag-sharing platform.

So far, most of these platforms have finished angel and series A round financing. However, the emerging industry also faces severe challenges such as pricing, maintenance, authentication and of course spoilage.

“The renters may face the risk that a percentage of the users would secretly switch the authentic bags,” said Zhang Xiaolu, sales manager at a luxury store in Changsha.

9 of world’s top 12 smart phone manufacturers are Chinese

By the end of 2017, China was home to nine of the world’s top 12 smart phone manufacturers, according to research by IC Insights, a leading semiconductor market research company in the US.

The research shows that the country’s phone maker Huawei ranked third on the list, after Samsung and Apple. Its Chinese rival Xiaomi found itself in sixth place.

The research showed that Huawei shipped 153 million units last year, followed by BBK Electronics’ OPPO and VIVO, shipping a combined total of 213 million units in the same period.

It was reported that the nine Chinese companies produced 626 million handsets in 2017, 11 percent more than in 2016. They accounted for 42 percent of the global market, and the figure stood at 38 percent and 34 percent respectively over the previous two years.

IC Insights believes that the future holds more com

U.S. has no stance to blame China’s economic and trade policy

Labeling China as a country conducting “unfair trade practices” actually adds fuel to the trade war started by the U.S.

In his speech at the Detroit Economic Club on June 18, U.S. Secretary of State Mike Pompeo criticized China’s economic and trade policy. Also, at a forum, a deputy secretary of the U.S. Department of Commerce criticized China of developing a non-market economy, which he thinks threatens the strategic industry of his country.

These accusations are intentionally imposed by the U.S. side and clearly serve certain purposes. They are an additional excuse for the trade war, unilaterally started by the states. Apparently, the current trade policies of the U.S. are those of unilateral trade protectionism. Both Section 232 and Section 301 investigations are against the principles of international trade.

Trade should be beneficial to interests of all parties and be based on mutually-beneficial cooperation. History has repeatedly proven that trade war flows against the global tide and is outdated, backward and ineffective.

Hyping up “fair trade” serves U.S. politics. As a republican candidate, Donald Trump announced his economic plans during a speech at the Detroit Economic Club in August 2016. As the U.S. midterm elections are approaching, the U.S. Secretary of State’s remarks at the club are clearly an attempt to guide public opinion and win more votes.

However, China will not and cannot accept the accusations no matter what the reasoning.

China’s achievements in promoting openness and cooperation have been widely recognized by the world. On June 28, a white paper on China and the World Trade Organization (WTO) was released, giving a full account of China’s fulfillment of its WTO commitments.

China has comprehensively fulfilled its commitments to the WTO, substantially opened its market to the world, as well as delivering mutually beneficial and win-win outcomes on a wider scale, according to the white paper.

The country is actively advancing opening-up to a higher level to achieve common global development, it said, adding that the country is willing to work hand-in-hand with its global trading partners to make economic globalization more open, inclusive and balanced with benefits to all, according to the paper.

WTO spokesperson Keith Rockwell said the WTO secretariat welcomes the strong support China has shown to the organization, according to Xinhua.

Putting its own interests above other countries, the “fair and reciprocal” trade standard of the U.S. has been criticized by many sides. Mexico, Canada, India, Turkey and the E.U. have all announced retaliatory tariffs against the U.S.

Instead of supporting the unilateral trade policy of the U.S., American manufacturers have become panicked and worried about its negative impacts on them.

The U.S. should reflect on its own wrongdoings instead of wrongly accusing China. If not corrected, the U.S.’s wrongdoings will harm itself as well as other countries.

The author is deputy director of Department for International and Strategic Studies of China Institute of International Studies