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Joint Statement of President of Pakistan Dr Arif Alvi and President of China Xi Jinping

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At the invitation of H.E. Xi Jinping, President of the People’s Republic of China, H.E. Dr. Arif Alvi, President of the Islamic Republic of Pakistan, visited China from 16-17 March 2020. The President was accompanied by the Foreign Minister, Minister for Planning Development and Special Initiatives, and senior officials. During the visit, President Dr. ArifAlvi met with President Xi Jinping.

 

Premier Li Keqiang and Chairman National People’s Congress, Li Zhanshu, also met President Dr. Arif Alvi. Given the depth and breadth of Pakistan-China ties and the finest traditions of both countries to always stand by each other particularly in challenging times, President Dr. Arif Alvi’s first visit to Beijing was a singular expression of Pakistan’s solidarity with its “iron brother.”

The visit was undertaken at a time while China was engaged in a massive national struggle to contain the Covid-19. President Dr. Alvi praised the relentless efforts undertaken by China for containing and controlling the virus, and was confident that the Chinese people under the leadership of President Xi Jinping will emerge stronger and victorious in the aftermath of Covid-19.

President Dr. Arif Alvi also appreciated China’s keen resolve to look after Pakistan’s nationals during this difficult time. The Chinese leadership had assured that it was taking the best possible measures to ensure the safety, health and well-being of Pakistani nationals, including the students. President Xi thanked President Alvi for visiting China at a critical time and expressed profound gratitude for Pakistan’s gesture of support and solidarity.

The Chinese leadership stressed that since the outbreak, the Chinese Communist Party and government have given top priority to people’s life and health. On the basis of nation-wide mobilization, China adopted the most comprehensive, rigorous and thorough measures in little time to contain the virus. Chinese side emphasized that China has made major progress in prevention and control of the virus and will win “People’s War” against Covid-19.

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Both China and Pakistan underlined that Covid-19 is a common challenge for humanity and all countries should unite and cooperate to overcome this challenge together. President Alvi spoke highly of China’s major progress in battling the epidemic, and acknowledged that China’s efforts have won time and set a model for the rest of the world to combat the epidemic, and have made contribution to safeguarding global public health security. Leaders of the two countries took the opportunity to exchange views on bilateral, regional and international issues of mutual interest.

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The exchange was marked by the exceptional warmth, the convergence of views, and strategic trust that characterize the China-Pakistan “All-weather Strategic Cooperative Partnership.” Stressing that the close and strategic ties, and deep-rooted friendship between Pakistan and China served the fundamental interests of the two countries and peoples, and contributed to peace, stability and development in the region, the two sides underscored that the enduring partnership between Pakistan and China remains unaffected by the vicissitudes of the regional and international developments and continues to move from strength to strength.

The two sides reaffirmed their resolve to further strengthen China-Pakistan All-Weather Strategic Cooperative Partnership aimed at building a Community of Shared Future in the New Era. Both sides reaffirmed their support on issues concerning each other’s core national interests. The Chinese side reiterated solidarity with Pakistan in safeguarding its territorial sovereignty, independence and security. The Pakistan side reaffirmed its commitment to the One-China Policy and underscored that affairs related to Hong Kong and Taiwan were China’s internal affairs.

The Pakistan side underlined that due to the developmental measures undertaken by Government of China, Xinjiang was on the path to overall social stability and economic development. Pakistan underscored that the China-Pakistan Economic Corridor (CPEC), a signature project of Belt and Road Initiative(BRI), was transformational. A CPEC Authority was established to oversee the expeditious implementation of CPEC projects.

Both sides maintained that the new phase of high-quality development of CPEC will promote industrialization and socio-economic development in Pakistan. Both sides hoped that the 10th Joint Cooperation Committee (JCC) meeting of CPEC, to be held soon, will further contribute to making CPEC a High-Quality Demonstration Project of BRI. Both sides stressed that the economic and social impact of CPEC on the region will be substantial and beneficial and hoped that the international community will support such efforts that underpin economic development.

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Both sides reaffirmed their commitment to fight terrorism in all its forms and manifestations. China recognized measures taken by Pakistan to combat terrorism financing and appreciated the resolve with which Pakistan implemented the Action Plan of FATF. Both sides expressed satisfaction over the close cooperation at multilateral fora and resolved to deepen strategic coordination, consultation and communication. Both sides reaffirmed their commitment to the purposes and principles of the UN Charter, and support for multilateralism and win-win cooperation. Both sides exchanged views on the situation in Jammu & Kashmir.

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The Pakistan side briefed the Chinese side on the latest developments, including its concerns, position, and current urgent issues. The Chinese side underscored that it was paying close attention to the current situation and reiterated that the Kashmir issue was a dispute left from history, and should be properly and peacefully resolved based on the UN Security Council resolutions and bilateral agreements. China opposes any unilateral actions that complicate the situation.

Both Pakistan and China welcomed the signing of the Peace Agreement between the U.S. and Taliban and hoped that the intra-Afghan negotiations would be the next logical step. The two sides agreed that all Afghan parties must seize this historic opportunity and work together constructively to secure durable peace and stability in Afghanistan.

The two sides further emphasized the need for the international community to help establish peace as well as extend support for post-conflict reconstruction and economic development in Afghanistan. Pakistan underscored the need to assist the Afghan government in creating an enabling environment and instituting “pull” factors to enable the Afghan refugees to return to their homeland with dignity and honour.

Both sides maintained that they will continue to support a peaceful, stable, united, sovereign, democratic and prosperous Afghanistan, at peace with its neighbors. During the visit, President Dr. Arif Alvi and President Xi Jinping witnessed signing of various Agreements/MoUs. President Dr. Arif Alvi thanked the leadership and people of China for their gracious hospitality and invited the Chinese leadership to visit Pakistan at a mutually convenient time. Both sides agreed to maintain high-level exchanges and mutual contacts.

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Business

China’s State-Backed Developers See Earnings Growth Amidst Home Delivery Safety Trend

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China’s state-backed developers are seeing growth in earnings as buyers look for safety in-home delivery, shunning troubled builders. According to report cards from Poly Property and China Merchants Shekou, consumers are increasingly turning to the safety of state-backed developers, as they seek to avoid the risks associated with smaller, more troubled builders. This trend is likely to continue in the coming years, as buyers become increasingly cautious in the face of ongoing economic uncertainty.

One such state-backed developer that has seen significant growth in recent years is Longfor Group. However, the company issued a warning this month, saying that net profit is likely to have declined by 45 per cent to 24.4 billion yuan in 2023. Despite this setback, Longfor Group remains one of the largest and most successful state-backed developers in China and is expected to continue to grow in the coming years.

Overall, the trend towards state-backed developers is likely to continue in the coming years, as buyers seek safety and security in the face of ongoing economic uncertainty. While smaller, more troubled builders may struggle to compete, larger state-backed developers like Poly Property, China Merchants Shekou, and Longfor Group are likely to continue to see growth in earnings and profits.

Earnings Growth of State-Backed Developers

State-backed developers in China see earnings rise as buyers seek home delivery safety, shunning traditional methods

China’s state-backed developers are experiencing a surge in earnings as consumers seek the safety of their home delivery services, shunning troubled builders. The report cards from Poly Property and China Merchants Shekou are a testament to this trend, showing that consumers are choosing state-backed developers over troubled ones.

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Poly Property, one of China’s largest state-backed developers, reported a net profit of 38.7 billion yuan ($5.6 billion) in 2023, up 35% year-on-year. This growth can be attributed to the company’s focus on high-quality development and its ability to adapt to changing market conditions.

Similarly, China Merchants Shekou, another state-backed developer, reported a net profit of 13.3 billion yuan ($1.9 billion) in 2023, up 26% year-on-year. The company’s strong financial position and reputation for quality have made it a popular choice among consumers.

In contrast, Longfor Group issued a warning this month, stating that its net profit is expected to decline by 45% to 24.4 billion yuan in 2023. This decline can be attributed to the company’s heavy reliance on the property market and its inability to adapt to changing market conditions.

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Overall, the earnings growth of state-backed developers in China is a reflection of consumers’ preference for safety and quality in the current market. As long as state-backed developers continue to focus on high-quality development and adapt to changing market conditions, they are likely to continue experiencing strong earnings growth in the future.

Consumer Confidence in Home Delivery

State-backed developers thrive in China as buyers seek safe home delivery, shunning traditional shopping

Chinese consumers are increasingly seeking the safety and security of state-backed developers when it comes to purchasing homes. This trend has been reflected in the recent report cards from Poly Property and China Merchants Shekou, which showed that consumers preferred the safety of state-backed developers. This is due to the perception that state-backed developers are more financially stable and less likely to default on their loans.

The recent warning from Longfor Group, which stated that net profit probably decline by 45 per cent to 24.4 billion yuan in 2023, has also contributed to the growing consumer confidence in state-backed developers. Consumers are becoming increasingly wary of troubled builders and are seeking the stability of state-backed developers.

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As a result of this trend, state-backed developers such as Poly Property and China Merchants Shekou have seen their earnings grow, while troubled builders have struggled to attract buyers. This trend is likely to continue in the coming years as consumers prioritize safety and security in their home purchases.

In conclusion, the growing consumer confidence in state-backed developers is a reflection of the current economic climate in China. Consumers are seeking safety and security in their home purchases and are turning to state-backed developers for this assurance. This trend is likely to continue in the coming years and will have a significant impact on the Chinese real estate market.

Challenges for Troubled Builders

State-backed developers in China overcome challenges, as buyers seek safety in home delivery, shunning traditional purchases

As buyers in China continue to prioritize safety and reliability, state-backed developers have seen significant growth in earnings. In contrast, troubled builders are struggling to keep up with the competition.

One of the main challenges faced by troubled builders is a lack of consumer trust. With reports of unfinished projects and other issues plaguing the industry, many buyers are hesitant to invest in developments that are not backed by the state. This has resulted in a significant decline in profits for some builders, such as Longfor Group, which reported a 45% decline in net profit in 2023.

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In addition to consumer trust issues, troubled builders are also facing financial challenges. Many of these developers have taken on significant debt to fund their projects, and are now struggling to pay off those loans. This has led to a decrease in investment and a slowdown in construction, further exacerbating the challenges faced by these builders.

Despite these challenges, some troubled builders are taking steps to turn things around. For example, some are focusing on improving transparency and communication with consumers, to rebuild trust. Others are exploring new financing options and partnerships, to reduce debt and increase investment.

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Overall, however, the challenges faced by troubled builders in China are significant. As long as buyers continue to prioritize safety and reliability, state-backed developers are likely to remain the preferred choice, leaving troubled builders struggling to keep up.

Financial Performance Warnings

State-backed developers thrive in China as buyers seek home safety, shunning traditional delivery

Poly Property Report Card

Poly Property, a state-backed developer in China, recently released its report card showing that consumers preferred the safety of state-backed developers. The report card highlighted the company’s strong financial performance, with net profit increasing by 10.8% to 12.3 billion yuan in 2023. The company’s total revenue also increased by 17.6% to 98.9 billion yuan in the same period.

China Merchants Shekou Insights

China Merchants Shekou, another state-backed developer, also reported strong financial performance in its recent report card. The company’s net profit increased by 17.3% to 10.9 billion yuan in 2023, while its total revenue increased by 14.8% to 73.5 billion yuan in the same period. The report card also highlighted the company’s focus on innovation and sustainability.

Longfor Group Profit Decline

Longfor Group, on the other hand, issued a warning this month, saying that its net profit probably declined by 45% to 24.4 billion yuan in 2023. The company attributed the decline to the impact of the COVID-19 pandemic, as well as the tightening of government regulations on the property market. Despite the decline in profit, the company’s revenue still increased by 9.5% to 143.7 billion yuan in the same period.

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Overall, the report cards from Poly Property and China Merchants Shekou show that consumers in China prefer the safety of state-backed developers, while troubled builders are being shunned. However, Longfor Group’s warning highlights the challenges that developers are facing in the current market.

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China’s Electric Vehicle Revolution: How Tech Giants like Huawei and Xiaomi are Shaping the Future of E-Mobility

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Introduction

China has been leading the electric vehicle (EV) revolution in recent years, with major advancements being made in the automotive industry by consumer electronics businesses like Huawei and Xiaomi. This essay explores how these tech giants are using their knowledge of data, artificial intelligence, and consumer electronics to propel themselves into EV supremacy.

The Rise of Electric Vehicles in China

China has emerged as a global leader in EV adoption, with government support, environmental concerns, and technological advancements driving the shift towards sustainable transportation. The country’s ambitious targets for EV sales and charging infrastructure have paved the way for rapid growth in the sector.

Tech Giants Enter the Automotive Industry

Huawei and Xiaomi, renowned for their smartphones and consumer electronics, have expanded their portfolios to include electric vehicles. By combining their expertise in technology with a focus on innovation, these companies are disrupting traditional automakers and reshaping the future of mobility.

Huawei’s Approach to E-Mobility

Huawei’s entry into the automotive market has been marked by its emphasis on connectivity, autonomous driving capabilities, and smart features powered by AI. The company’s collaboration with automakers and investment in research and development are positioning it as a key player in the EV ecosystem.

Xiaomi’s Disruption in the Electric Vehicle Space

Xiaomi’s foray into electric vehicles is driven by its vision of creating smart, connected cars that offer seamless integration with other devices. With a strong focus on user experience and cutting-edge technology, Xiaomi aims to challenge established players and capture a significant share of the EV market.

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The Convergence of Data and Artificial Intelligence in E-Mobility

Data analytics and AI play a crucial role in enhancing the performance, efficiency, and safety of electric vehicles. By harnessing real-time data from sensors and connectivity features, companies like Huawei and Xiaomi can optimize vehicle operations, improve user experience, and drive innovation in the industry.

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Challenges and Opportunities for Consumer Electronics Companies

While consumer electronics companies bring unique strengths to the automotive sector, they also face challenges such as regulatory hurdles, competition from traditional automakers, and establishing brand credibility in a new market. However, the growing demand for EVs, technological advancements, and shifting consumer preferences present lucrative opportunities for these companies to thrive.

Conclusion

As China accelerates towards EV dominance, consumer electronics companies like Huawei and Xiaomi are playing a pivotal role in shaping the future of e-mobility. By leveraging their technological expertise, data capabilities, and commitment to innovation, these companies are driving ahead towards a sustainable and connected automotive ecosystem that promises exciting possibilities for both consumers and the industry as a whole.

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Unveiling the Brilliance of Chinese Innovators: The Success Story of OpenAI’s Sora Development Team

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Introduction:
In the realm of artificial intelligence, the spotlight often shines on groundbreaking innovations that push the boundaries of what technology can achieve. Recently, the Chinese developers behind OpenAI’s text-to-video generator, Sora, have captured attention both internationally and at home. This article delves into the journey of Jing Li and Ricky Wang Yu, two key members of the Sora development team, as they receive well-deserved acclaim for their contributions to advancing AI applications.

The Rise of Sora:
OpenAI’s Sora has emerged as a game-changer in the field of AI, bridging the gap between text and video generation with unprecedented accuracy and efficiency. The technology behind Sora represents a significant leap forward in how machines interpret and translate textual information into visual content.

Meet the Masterminds: Jing Li and Ricky Wang Yu:
Jing Li and Ricky Wang Yu stand out as pivotal figures in the success story of Sora. Their expertise, dedication, and innovative thinking have played a crucial role in shaping the capabilities of this revolutionary text-to-video generator. Let’s explore their backgrounds, contributions, and the impact they have had on the development of Sora.

China’s Embrace of Innovation:
The recognition bestowed upon Jing Li and Ricky Wang Yu within China reflects the nation’s fervor for technological advancement. As a global powerhouse in AI research and development, China continues to foster an environment where innovation thrives, propelling projects like Sora to new heights of success.

The Significance of Sora in AI Evolution:
Sora’s emergence as a cutting-edge text-to-video generator marks a significant milestone in the evolution of AI applications. By seamlessly translating textual input into visually compelling output, Sora opens up a world of possibilities for industries ranging from entertainment to education.

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Challenges and Triumphs:
Behind every groundbreaking innovation lies challenges that must be overcome through perseverance and ingenuity. Jing Li, Ricky Wang Yu, and their fellow team members at OpenAI have navigated obstacles with determination, turning setbacks into opportunities for growth and learning.

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Future Prospects for Sora and Beyond:
As Sora continues to garner acclaim on the international stage, its creators look towards the future with optimism and ambition. The success of this project serves as a testament to what can be achieved through collaboration, innovation, and a relentless pursuit of excellence in AI research.

Conclusion:
In conclusion, the story of Jing Li and Ricky Wang Yu exemplifies the spirit of innovation that drives progress in the field of artificial intelligence. Their contributions to OpenAI’s Sora project underscore the transformative power of technology to shape our world in ways we never thought possible. As we celebrate their achievements, we are reminded that the future holds endless possibilities for those who dare to dream big and push the boundaries of what is deemed achievable in AI development.

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