The Sunday Mail
Manyika Kangai
China passes foreign relations law
China’s top legislature, the Standing Committee of the 14th National People’s Congress (NPC), concluded its third session on Wednesday in Beijing, where lawmakers voted to adopt a law on developing barrier-free environments and a law on foreign relations. President Xi Jinping signed two presidential orders to promulgate the laws. Zhao Leji, chairperson of the NPC Standing Committee, presided over the closing meeting and said the foreign relations law is of great significance to enhance the rule of law in foreign-related work, better safeguard China’s sovereignty, national security and development interests, provide support for building a strong country and national rejuvenation, and build a human community with a shared future. Divided into six chapters, the Law on Foreign Relations of the People’s Republic of China mainly focuses on the major policies, the guiding ideology, purposes, principles, tasks and objectives of the country’s foreign affairs.
China issues local government bonds
China’s local governments issued bonds worth 301,9 billion yuan (about US$41,87 billion) in May, according to the Ministry of Finance. Of the total, special bond issuance came in at 275,5 billion yuan (about US$38,21 billion), while the issuance of general bonds amounted to 26,4 billion yuan (about US$3,66 billion). In May, local government bonds were issued at an average issuance term of 12,5 years and at an average interest rate of 2,85 percent. In the first five months of 2023, local governments in China have issued bonds worth over 2,25 trillion yuan (about US$312 billion). By the end of May, China’s outstanding local government debts stood at over 37,56 trillion yuan (about US$5,2 trillion), within the official limit of 42,17 trillion yuan (about US$5,85 trillion) for this year.
China-Africa Expo opens
The third China-Africa Economic and Trade Expo kicked off on Thursday in Changsha, the capital of central China’s Hunan Province. The expo welcomes more “Made in Africa” products into China and aims to boost business links between the two sides. Themed “Common Development for a Shared Future”, the four-day event is being attended by representatives from 53 African countries and multiple international organisations. The number of exhibitors reached 1 500, up 70 percent from the previous expo. Various African products are on display as traders use the expo to explore the vast Chinese market. As part of the expo, a forum on sanitary and phytosanitary cooperation also took place on Thursday and is expected to facilitate African exports of agricultural food products to China.
China to host major AI event
The World Artificial Intelligence Conference (WAIC) 2023 will be held from July 6 to 8 in Shanghai under the theme “Intelligent Connectivity: Generating the Future”, according to a press conference held by the Shanghai municipal government on Thursday.
The conference’s major exhibitions will focus on sectors including core technology, intelligent terminal, application empowerment, and cutting-edge technology, with over 400 exhibitors in attendance. More than 30 AI models will be showcased during the conference to demonstrate the impact of AI models on the industry. Over 1 400 guests are confirmed to attend the conference, including four Nobel Prize and Turing Award laureates, over 80 academicians from China and abroad and more than 50 enterprise pioneers from tech giants including Huawei, Alibaba, Apple and Tesla.
China drafts new Patriotic Education Law
Chinese lawmakers are considering a new law to promote the spirit of patriotism in the country, especially among the younger generations. The draft Patriotic Education Law was submitted to the National People’s Congress Standing Committee for its first reading on Monday. According to the draft, patriotic education covers areas such as ideology and politics, history and culture, national symbols, the beauty of the motherland, national unity and ethnic solidarity, national security and defence, and the deeds of heroes and role models. The draft specifies that schools at all levels should integrate patriotic education into the entire educational process. It emphasises the importance of providing quality ideological and political theory courses and integrating patriotic education content into various subjects.
*Manyika Kangai has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. He is dedicated to helping African businesses and governments realise the full potential of the vast opportunities China presents. Feedback +27743487997/ www.muvambi-sa.co.za
