France has become the first European Union country to launch a "national pavilion" on Chinese social media and e-commerce platform Douyin, marking a new step in cooperation in cross-border e-commerce and digital trade.

The launch event was organized by Business France, the trade and investment arm of the French Embassy in China. Pascal Gondrand, director of Business France China, and Lin Shenghong, deputy director of the Industrial Cooperation Department of the China Chamber of International Commerce, addressed the launch in Beijing on September 11. Around 100 representatives of French brands, e-commerce companies, content creators and media organizations attended the event.

China-EU trade rose 10.2% year-on-year in the first half of 2026, while cross-border e-commerce continued to expand, connecting European consumers with China's vast range of light industrial products.

New gateway for French brands

Officially backed digital "national pavilions" are emerging as a new way for overseas brands to build consumer trust, improve market visibility and gain access to China's large online retail market.

Gondrand said the French pavilion would provide a new channel for French brands to enter the Chinese market, particularly small- and medium-sized companies seeking to reach Chinese consumers directly through livestreaming and e-commerce.

Lin said the launch reflects efforts to expand China-France economic and trade cooperation from traditional offline channels into digital commerce. He added that the China Chamber of International Commerce would continue to connect businesses and institutions from both sides and help facilitate cooperation.

Li Wenguo, deputy chief representative of the China Council for the Promotion of International Trade's representative office in France, also addressed the event via video, highlighting cross-border livestreaming and e-commerce's role in supporting two-way trade between China and France.

Broader push for China-France digital trade

The launch is part of broader efforts to strengthen e-commerce links between China and France.

In June, the sixth China-Europe (France) Cross-Border E-commerce Forum was held in Paris, bringing together more than 50 government and industry representatives, over 50 Chinese buyers, more than 100 European brands and around 300 cross-border e-commerce service providers from China and Europe.

Participants represented sectors including cross-border payments, smart logistics, information technology, brand expansion, public relations, exhibitions, import and export trade, legal and tax services, and media.

A French livestreaming e-commerce festival is also set to open in Paris later this year, providing another platform for Chinese and French companies to explore new forms of digital trade cooperation.

The French national pavilion on Douyin — one of China's biggest social media and shopping platform — adds a new channel to those efforts, as both countries seek to deepen commercial links through digital platforms and emerging retail models.

Editor's note: Tang Song is tutor for Oxford University's PPE undergraduate course "Politics of South Asia," and PhD candidate in South Asian Studies at Oxford University. This article reflects the author's opinions and not necessarily those of CGTN. 

Greater BRICS matters because it can turn political partnership into practical development. This link was visible in New Delhi. Leaders of China and India agreed that the two countries should be partners rather than rivals. They also called for economic and trade concerns to be addressed in a balanced manner and for direct connectivity and exchanges to expand.

These commitments matter economically. More stable relations reduce uncertainty for businesses, keep official channels open and create better conditions for trade, investment and supply-chain cooperation. The economic foundation is already substantial. At the opening session of the BRICS Business Forum, Indian Commerce Secretary Rajesh Agrawal noted that intra-BRICS trade had risen from $84 billion in 2003 to nearly $1.2 trillion in 2024.

The test for Greater BRICS is whether this growing connectivity produces tangible gains: affordable infrastructure, more reliable supply chains, and access to new technologies. India's experience shows how this can work.

Why economic partnership matters

For many developing countries, the immediate constraint is a shortage of affordable, long-term finance. The UN's 2026 Financing for Sustainable Development Report estimates an annual Sustainable Development Goal financing gap of more than $4 trillion. Some 3.4 billion people live in countries where governments spend more on interest payments than on either health or education. Higher financing costs therefore mean fewer clinics, weaker transport systems, and delayed investment in clean energy.

BRICS can help address this gap in two ways: by widening trade and investment links, which would allow countries to diversify markets and suppliers, and by expanding access to development finance. These measures carry crucial significance when protectionism and geopolitical tensions are fragmenting the world economy.

India: From developmental finance to daily life

The New Development Bank provides a concrete example. By June 2026, it had approved 35 infrastructure projects in India worth $10.5 billion, making India its second-largest recipient of financing.

These projects cover a wide range of fields such as transport, renewable energy, water, and sanitation. The NDB-supported Delhi–Ghaziabad–Meerut rapid rail system has reduced travel time along its 82-kilometer corridor from as much as three or four hours by road to approximately 55 minutes. The impact extends beyond the rail: faster regional transport also improves access to employment, education, and public services.

Economic ties between India and China offer another channel. Indian government data recorded bilateral goods trade at approximately $151 billion in the 2025-26 financial year. At their New Delhi meeting, the two leaders noted that bilateral trade had reached a new high and called for economic and trade concerns to be addressed in a balanced manner. India's commerce minister has identified pharmaceuticals, agriculture, engineering, electronics, services, startups, and emerging technologies as promising areas for deeper BRICS cooperation.

Scaling up through Greater BRICS

With its expanded membership, BRICS now accounts for approximately 49.5% of the world's population, 40% of global GDP and 26% of global trade. Greater BRICS also connects countries with different but potentially complementary strengths: manufacturing and technology, energy and critical minerals, agriculture, financial resources, skilled workforces, and expanding consumer markets. The opportunity is to turn these differences into practical cooperation.

At the 2026 BRICS Summit, China called for deeper cooperation in artificial intelligence, new industrialization, and industrial and supply chains. Co-development and joint research can help countries adapt new technologies to local conditions rather than simply import solutions designed elsewhere. For developing economies in particular, this could widen access to technologies that support digital transformation and industrial upgrading.

BRICS members should continue to expand affordable finance, improve infrastructure, strengthen supply-chain resilience and share the benefits of technological innovation. China's BRICS chair in 2027 can provide continuity for this work. Within that effort, a more stable and productive China-India relationship would become a powerful source of development and stability far beyond their borders.

This year marks the fifth anniversary of the China-ASEAN comprehensive strategic partnership. 

Pham Thanh Binh, chair of the ASEAN Committee in Beijing and Vietnamese Ambassador to China, said that China and ASEAN are pioneering partners who must continue to share development opportunities.

Editor's note: Li Hongchang is a researcher at the Sustainable Transportation Innovation Center and professor at the School of Economics and Management, Beijing Jiaotong University. Liu Ziyi is a PhD student at the School of Economics and Management, Beijing Jiaotong University. The article reflects the authors' opinions and not necessarily the views of CGTN.

The 15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry (2026–2030) serves as a national, medium- to long-term specialized policy document for China's intelligent connected new energy vehicle (ICNEV) sector. It delineates the strategic direction of industrial development, key technical indicators, market objectives, and the supporting governance framework. 

The plan establishes milestone targets for 2030: an average energy consumption of approximately 11.5 kWh/100 kilometers for battery electric passenger vehicles, a 70% market share for new energy passenger vehicle sales, and a 40% market share for new energy commercial vehicle sales. 

The document outlines tasks across five strategic dimensions: technological innovation, industrial upgrading, infrastructure development, safety regulation, full lifecycle management of power batteries, and external opening-up. These measures aim to drive the green transformation of the automotive industry, with the objective of achieving carbon peaking in the sector before 2030 and facilitating the implementation of the national dual carbon strategy.

First, electric vehicles (EVs) demonstrate a significant advantage in energy costs.

The plan sets a certified test-cycle average target of 11.5 kWh/100 kilometers for battery electric passenger vehicles by 2030. Based on a residential slow-charging tariff of 1 yuan/kWh, the electricity cost per 100 kilometers is calculated at 11.5 yuan. For comparison, assuming a traditional internal combustion engine vehicle achieves a fuel economy of 8 liters per 100 kilometers with a fuel price of 8 yuan per liter, the fuel cost per 100 kilometers amounts to 64 yuan. Under these assumptions, the energy cost for EVs is approximately one-fifth of that for conventional fuel vehicles. 

The above figures represent an estimation of energy costs only and exclude vehicle depreciation, maintenance, and other expenses. The 11.5 kWh/100 kilometers figure is a certified test-cycle average target; actual vehicle energy consumption varies depending on driving conditions, ambient temperature, and vehicle model. Furthermore, public fast-charging tariffs are higher than residential rates, which will increase actual operating costs.

Second, the structural transformation of the market is driving carbon reduction in the transportation sector.

The plan proposes a target of 70% for the share of new energy passenger vehicles in total new vehicle sales by 2030. In the medium- to long-term, new energy passenger vehicles will continue to replace conventional fuel-powered passenger vehicles, thereby reducing fossil fuel consumption in the transportation sector. It is important to note that the emission reduction benefits of new energy vehicles are primarily realized during the vehicle operation phase; upstream manufacturing of power batteries still generates carbon emissions. Therefore, achieving carbon peaking in the automotive industry requires a coordinated green transformation across the entire industrial chain.

Third, supporting infrastructure and technological iteration are continuously improving product supply and user experience.

The policy promotes the coordinated construction of charging and battery-swapping infrastructure networks, focusing on resolving energy replenishment challenges in county-level areas and urban environments. Concurrently, core technologies in power batteries, electric drive systems, and intelligent connectivity are being advanced, alongside the implementation of Vehicle-Road-Cloud Integration (VRCI) and highly automated driving scenarios. While continuously enhancing energy efficiency, safety, and intelligence, the industry is also refining its safety regulatory framework to balance industrial innovation with risk governance.

Overall, the plan establishes a medium- to long-term development blueprint for China's intelligent connected new energy vehicle industry. Driven by technological innovation, infrastructure enhancement, and the development of a robust governance system, the domestic passenger vehicle market is transitioning into a phase dominated by electrification. 

Propelled by advantages in energy costs and green, low-carbon performance, new energy vehicles are progressively becoming the mainstream choice for new vehicle consumption. Concurrently, the industry is upgrading toward high-end, intelligent, and internationalized operations, consolidating its comprehensive supply chain advantages and propelling China's transition from a major automotive producer to a global automotive powerhouse.

The 23rd China-ASEAN Expo (CAEXPO) opened on Thursday in Nanning, capital of south China's Guangxi Zhuang Autonomous Region, bringing new business opportunities under the China-ASEAN Free Trade Area (CAFTA) 3.0 framework into focus.

Running from September 17 to 21, the expo has attracted more than 3,400 companies from over 70 countries and regions. The exhibition area covers about 170,000 square meters, with participating enterprises up 5.3% from the previous edition. Timor-Leste is taking part for the first time as a full ASEAN member and co-host, bringing all 11 ASEAN member states together in Nanning.

AI and the newly opened Pinglu Canal are also key focuses of this year's expo, with dedicated exhibition areas showcasing their potential to drive regional cooperation.

The latest CGTN survey shows that 90.9% of global respondents believe the continued hosting of CAEXPO demonstrates China's commitment to high-standard opening up. Meanwhile, 89.5% see the expo as an important platform for business exchanges, industrial matchmaking and sharing regional development opportunities.

China-ASEAN Free Trade Area 3.0 opens new areas for cooperation

The expo comes as China and ASEAN begin implementing the upgraded CAFTA 3.0 framework, which aims to facilitate trade, strengthen supply chains and expand cooperation into emerging sectors.

Science and technology authorities and high-tech institutions from countries including Cambodia, Indonesia, Malaysia and Thailand have sent delegations to the expo.

China has made significant advances in areas such as AI, electric vehicles and renewable energy, said Destarata Mustafa, counselor for political affairs at the Indonesian Embassy in Beijing. "We hope to expand cooperation with China in these fields."

More than 50 trade and investment promotion activities are being held during the expo, focusing on trade and investment facilitation, regional economic integration, and cross-border industrial and supply chain cooperation.

In the CGTN survey, 84.5% of respondents said deeper China-ASEAN free trade cooperation will inject greater momentum into openness, cooperation and stable growth in the global economy.

AI takes center stage at China-ASEAN Expo

AI is taking a prominent role at this year's expo, with dedicated exhibition areas at the Nanning International Convention and Exhibition Center and the newly established Nanning AI Compound.

The AI exhibition area at the Nanning International Convention and Exhibition Center showcases AI products and technologies covering consumer applications, smart homes, intelligent terminals, robots and embodied intelligence, alongside AI technologies from ASEAN countries.

At the 10,000-square-meter Nanning AI Compound, more than 150 AI companies, including Huawei, iFlytek and Unitree Robotics, are presenting applications across 11 themed sections, focusing on industrial and everyday use.

The venue will also feature an AI-themed market, service robots, robot competitions and performances.

The new exhibition area is also designed to facilitate more targeted cooperation through an intelligent matchmaking system. More than 8,000 pairs of potential cooperation partners have been pre-matched, while nearly 2,000 additional matchmaking sessions are scheduled during the expo. The system has collected around 60 cooperation demand projects from ASEAN countries and matched them with nearly 40 Chinese projects to help companies pursue potential partnerships.

The emphasis on practical applications reflects growing efforts to connect China's AI capabilities with the specific industrial and consumer needs of ASEAN markets.

How Pinglu Canal could strengthen China-ASEAN trade

The newly opened Pinglu Canal has become another highlight of the expo, with a dedicated exhibition area showcasing the 134.2-kilometer waterway and its potential to strengthen regional connectivity.

Connecting the Xijiang River shipping network with the Beibu Gulf, the canal allows vessels of up to 5,000 tonnes to reach the sea directly, creating a more efficient route from China's southwestern hinterland to international markets.

The canal is expected to shorten shipping distances between southwest China and Southeast Asia by more than 560 kilometers, reduce logistics costs by 18% to 30% and save about 5.2 billion yuan (about $775 million) annually.

It also strengthens the New International Land-Sea Trade Corridor linking western China with Southeast Asia through railways, roads, waterways and ports.

According to the CGTN survey, 87.6% of respondents said multimodal transport, including river-sea and rail-water transport, when efficiently connected with cross-border industrial and supply chain cooperation, will further facilitate regional trade and investment.

The new connectivity comes as China-ASEAN trade continues to expand. In the first seven months of 2026, trade between the two sides reached $744.41 billion, up 24.7% year on year and accounting for 21.8% of China's total foreign trade.

A regional roundtable in Haikou, China’s Hainan Province, has brought together policymakers, business representatives and academics from more than 30 countries to explore the future of cooperation in the Asia-Pacific.

Under the theme “Toward an Asia-Pacific Community: Vision and Action,” participants discussed regional economic integration, supply chain connectivity and AI cooperation, while also exploring the vision of a Free Trade Area of the Asia-Pacific (FTAAP).

U.S. lawmakers are preparing to vote Tuesday on whether to give states more power to protect the public from rising energy costs linked to the construction of AI data centers. The bill comes as AI companies and lawmakers increasingly call for the government to police AI development, a stance the Trump administration has opposed. 

James Gooderson reports from Washington, D.C.

For more, check out our exclusive content on CGTN Now and subscribe to our weekly newsletter, The China Report.

Artificial intelligence companies have been ringing the alarm over the threat of their technology if no oversight is put in place.

Anthropic co-founder and Head of Policy Jack Clark told the BBC that lawmakers have a limited opportunity to implement safeguards to prevent AI from "spiraling out of control."

What do you think? Take a look at the interview.

For more, check out our exclusive content on CGTN Now and subscribe to our weekly newsletter, The China Report.

The launch of the Dangote Petroleum Refinery and Petrochemicals initial public offering (IPO) has triggered a rush among investors in Nigeria, with heavy demand overwhelming some digital investment platforms.

Investment apps including Bamboo and Cowrywise reported unusually high traffic as retail investors scrambled to subscribe to the landmark offer.

The IPO, which opened on September 14, seeks to raise about 2.15 trillion naira ($1.6 billion) through the sale of 4.1 billion shares at 525 naira each. Retail investors can buy a minimum of 10 shares, worth 5,250 naira, in what has been billed as Africa's largest IPO.

The refinery is valued at about $47.6 billion and currently has a production capacity of 700,000 barrels per day. Dangote plans to use the proceeds from the offer to support expansion, with the facility eventually expected to increase its capacity to 1.4 million barrels per day.

The IPO could also significantly boost the fortune of founder and Africa's richest man, Aliko Dangote.

Dangote's net worth could rise by about $23 billion to as much as $58.2 billion once the refinery's IPO valuation is reflected in his holdings.

That would move him ahead of US hedge fund billionaire Ken Griffin and technology billionaire Eric Schmidt in the global wealth rankings.

Dangote will retain a controlling stake in the refinery following the public offering.

(With input from the wires)

The World Trade Organization (WTO) estimates in its World Trade Report 2026, released on September 15 local time, that strengthening the multilateral trading system could lift global GDP by roughly 2.9% and boost global exports by 17.9%.

The report states that stronger cooperation could help economies benefit from trade while addressing emerging challenges from technological  transformation, shifting economic power and geopolitical tensions. 

The report also warns that if countries take no action and allow multilateral trade rules to be eroded, global output could drop by as much as 10%. WTO Director-General Ngozi Okonjo-Iweala stresses that roughly 72% of global merchandise trade is still conducted under the WTO's most-favoured-nation principle. She notes the system continues to provide a foundation for predictable and non-discriminatory trade, even amid a more fragmented global trading landscape.

While the global trade landscape has undergone profound shifts, the report argues that the solution lies in adapting the multilateral trading system rather than abandoning it.

Okonjo-Iweala notes that cooperative development among economies remains more beneficial than unilateral actions, underscoring the need to update global trade rules to keep pace with an evolving world economy.

The Pinglu Canal, a new waterway linking China with ASEAN, is set to open on Wednesday. Cutting about 560 km off inland shipping routes, it will also reduce time spent on customs clearance, transshipment and cargo consolidation, forging closer regional ties. Check out our posters for more! 

The 33rd Arabian Travel Market (ATM) opened on September 14 in Dubai. Attracting over 2,800 exhibitors, this year's show is expected to welcome more than 55,000 visitors.

A key focus at this year's ATM is bringing tourists back to the Middle East following recent geopolitical disruptions. During a ministerial panel, Fatima bint Jahar Al Sairafi, Bahrain Minister of Tourism, said a joint Gulf Cooperation Council (GCC) recovery plan had been approved, because when the regional disruption happened, travelers and tourists hadn't looked at the GCC countries independently, but as a bloc, and that was where the strength was.

On a local level, Ajman, the UAE's smallest emirate, is actively opening up new avenues. As Khadija Mohammed Turki, a consultant with the Ajman Department of Tourism, Culture & Media said, the non-oil emirate is boosting what it has to offer, internationally and within the emirates, identifying new markets.

Besides the strong push to welcome global travelers back to the Middle East at this year's Arabian Travel Market, Chinese exhibitors are stepping in with tailored solutions to meet the growing demand from Middle-Eastern tourists.

This year, 28 Chinese enterprises from eight major destinations joined the delegation, marking a record participation for China at the show.

The China Pavilion Chief, said organizing 28 companies to participate was an important step that reflected the strong confidence in deepening China-Arab tourism cooperation. Through this event, it is hoped to build more connections between travel enterprises on both sides, while introducing China's latest entry facilitation policies to the public, travelers, and industry professionals across the Arab world.

On the exhibition floor, Chinese delegates introduced customized itineraries for Middle Eastern clients, showcasing a vibrant image of China's inbound tourism.

A Middle-Eastern travel insider told CGTN that since China removed visa restrictions for many GCC countries, demand in the region for "China Travel" had increased.

As the region's premier travel trade show, the four-day event runs through September 17.

The 23rd China-ASEAN Expo is scheduled to be held in Nanning, capital of south China's Guangxi Zhuang Autonomous Region, from September 17 to 21. Please take the survey to express your views.

Three years ago, ChatGPT was almost the only answer to the question, "Which LLM is best?" Today, Chinese and US models are taking turns wearing the crown. US firms run on China's low-cost open-source models, while Chinese labs build on cutting-edge US research.

Openness isn't idealism—it's pragmatism. This episode of Beyond Competition explains why. 

China's economy remained broadly stable in August, with growth increasingly supported by high-tech manufacturing, services and foreign trade, according to data released by the National Bureau of Statistics (NBS) on Tuesday.

Industrial production gained momentum during the month. Value-added industrial output rose 5.2% year on year, accelerating by 0.7 percentage points from July. Equipment manufacturing expanded 12.1%, while high-tech manufacturing grew 16.7%.

New growth drivers continued to stand out. Output of lithium-ion batteries surged 57.2% year on year, while industrial robot and 3D-printing equipment production increased 34.6% and 29.9%, respectively.

The services sector also maintained steady growth. The national services production index rose 4.1% year on year in August. Information transmission, software and IT services grew 9.6%, while leasing and business services increased 9.0%. Transport, storage and postal services expanded 4.8%.

Foreign trade was another major bright spot. China's total imports and exports of goods reached 4.65 trillion yuan ($647 billion) in August, up 19.8% year on year. Exports rose 18.6%, while imports increased 21.7%. In the first eight months of the year, total goods trade grew 17.6%, with exports of mechanical and electrical products rising 21.9%.

Domestic consumption grew at a more moderate pace. Retail sales of consumer goods totaled 3.98 trillion yuan in August, up 0.4% year on year. From January to August, combined retail sales of goods and services increased 2.5%, while service retail sales grew 4.9%. Online service retail sales rose 5.1%.

Investment remained under pressure, but high-tech sectors continued to attract capital. Fixed-asset investment, excluding investment by rural households, declined 7.2% in the first eight months of the year. In contrast, investment in high-tech industries increased 5.2%. Investment in information services jumped 22.7%, while that t in aerospace and aircraft equipment manufacturing, and electronic and communications equipment manufacturing rose 14.9% and 6.9%, respectively.

The data points to an economy that remains stable overall while its growth structure continues to evolve, with high-tech manufacturing, digital services and foreign trade emerging as increasingly important sources of momentum, said the NBS. 

Mongolian President Ukhnaa Khurelsukh on Sunday said the Erdeneburen Hydropower Plant in the western Khovd Province is an important outcome of practical cooperation between Mongolia and China.

During an inspection of the construction site, where he received a briefing on the progress of the project, Khurelsukh said Mongolia will take the project as an opportunity to further deepen practical cooperation with China in the energy and infrastructure sectors.

The Mongolian president commended the Chinese side's contractual performance and construction management, and thanked the Chinese government for its strong support for the project.

Cao Li, acting chargé d'affaires of the Chinese Embassy in Mongolia, said that China stands ready to work hand in hand with Mongolia to implement the important consensus reached by the two heads of state, consolidate strategic mutual trust, deepen mutually beneficial cooperation, and build the hydropower plant into a high-quality benchmark project that closely aligns the Global Development Initiative with Mongolia's "Vision 2050" development plan.

Constructed by Power Construction Corporation of China, the plant is currently Mongolia's largest national key livelihood hydropower project.

With a total installed capacity of 90 megawatts, the project, once fully operational, is expected to ensure a stable electricity supply to Mongolia's five western provinces and significantly enhance the region's energy self-sufficiency.

It is also expected to improve local agricultural irrigation, promote the development of cultural tourism and fisheries, and contribute to ecological protection and comprehensive environmental management.

Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said on Sunday that Hong Kong has continued to broaden and deepen its ties with Belt and Road regions and the Global South over the past week, spanning the Middle East to Central Asia across finance, innovation and technology (I&T), and the green transition.

Backed by the national 15th Five-Year Plan (2026-2030), which supports the city's drive to become an international I&T hub while consolidating its status in finance, shipping and trade, Hong Kong has drawn solid momentum from the central government to accelerate partnerships with the Global South, Chan wrote in his blog.

From the Middle East to Central Asia, mutually beneficial collaborations under the Belt and Road Initiative are evolving from standalone projects into a networked, institutionalized framework, he said.

This cross-regional cooperation has extended deeply into I&T, powered by Hong Kong's robust research and development capabilities and close integration with the Guangdong-Hong Kong-Macao Greater Bay Area's tech and industrial supply chains, he added.

Last week, the 11th Belt and Road Summit was held in Hong Kong, bringing together over 6,000 officials and business leaders from more than 70 countries and regions. Over 60 cooperation agreements and memoranda of understanding were reached during the summit.

Hong Kong's merchandise trade with Belt and Road partner countries rose by nearly 17% last year to about $323 billion. So far, more than 100 enterprises from Belt and Road partner countries have listed on the Hong Kong bourse, with a combined market capitalization exceeding HK$340 billion (about $43.4 billion), official data showed.

Hong Kong's own I&T foundation continues to expand, with the number of startups growing from around 1,500 in 2015 to over 5,200 in 2025, while the Science Park and Cyberport have nurtured around 20 unicorn enterprises.

(With input from Xinhua)

For foreign visitors, a trip to China can mean much more than seeing the sights. It can be about trying something new, experiencing everyday life in a different way, and finding something they want to take home.

At CIFTIS 2026, we step beyond the usual tourist trail to see what draws foreign visitors in. From cultural creations and collectibles to technology and new lifestyle experiences, the things they explore and engage with offer a glimpse of a China that is creative, dynamic and constantly evolving.

And sometimes, what starts with a purchase can become something more – a new experience, a lasting memory or a different way of seeing China. Join CGTN reporter Wang Tao at CIFTIS 2026 to see what foreign visitors are discovering, experiencing and taking away from their journey. 

China has long been known for manufacturing. But that picture is changing. Cuban tourism, healthcare and education services are entering the Chinese market, while trade and investment between China and Latin America and the Caribbean continue to grow. At CIFTIS, businesses from across the ocean are finding new ways to connect.

The 2026 China International Fair for Trade in Services (CIFTIS) concluded on September 13 at Shougang Park in Beijing. Over five days, 90 countries and international organizations, more than 1,800 companies, and 473 Fortune Global 500 and industry-leading enterprises gathered here, with over 190 forums and business matchmaking events held intensively.

As the exhibition booths are dismantled and the crowds disperse, what has this year's CIFTIS truly left behind?

On September 10, during the "Beijing Day" series of events, 36 projects were signed at the "Invest in Beijing" promotion conference, with a total value of 44 billion yuan ($6.1 billion). Beijing's Chaoyang District, home to the largest number of foreign-invested enterprises in the city, ranked first in the city with 6 key projects and a signing scale of 11 billion yuan, covering sectors including advanced intelligent manufacturing, AI computing infrastructure, brain-computer interfaces, pharmaceutical and health funds, and smart cultural tourism.

The list of debuts at this year's CIFTIS is equally substantial. Over 200 new products and achievements were released during the exhibition, more than 100 of which were global or China debuts. On September 11 alone, 37 companies and institutions released 81 new achievements.

In the medical field, a medical ultrasound AI large model was exhibited for the first time at a major public event.

In the information and communications technology sector, China's three major telecom operators demonstrated how they are taking their AI token business global—moving beyond laying cables to exporting intelligence. Their AI agents—China Telecom's TeleAgent, China Mobile's MobileClaw, and China Unicom's UniClaw—made their collective debut, alongside 10 service packages covering multimodal AI token services, computing-power empowerment for manufacturing, AI quality inspection, and secure cross-border data circulation.

According to a PwC report released in June, China ranks among the global leaders in effectively applying AI across the real economy. More overseas clients are now incorporating China's open-source AI ecosystem into their digital upgrades.

The structural changes hidden in the data may be the deeper signal this CIFTIS has left behind.

According to Ministry of Commerce, China's total services imports and exports reached 3.8 trillion yuan in the first half of 2026, up 8.3% year on year. Service exports grew by 17.6%, becoming a key driver of foreign trade growth. More notably, the structure has changed: Exports of intellectual property royalties, financial services, transport services, and telecommunications, computer and information services grew by 44.3%, 25.9%, 25.4%, and 10.9%, respectively. Knowledge-intensive services accounted for 53.5% of the total services exports, up 3% from the end of 2025.

This indicates China's services trade is migrating toward higher value-added and more technology-intensive segments, as per Zhao Ruojin, associate researcher at the Institute of International Trade in Services at the Chinese Academy of International Trade and Economic Cooperation.

The deeper change, beyond selling services, is that Chinese companies are exporting integrated technologies and full-lifecycle solutions that help make other countries' industries more competitive, more efficient, and more sustainable. That may be the most thought-provoking takeaway from the five-day CIFTIS.

Editor's note: Liu Xu is a research fellow of the National Academy of Development and Strategy, Renmin University of China. The article reflects the author's opinions and not necessarily the views of CGTN.

The 18th BRICS Summit is being held in New Delhi this September, coinciding with the 20th anniversary of the BRICS cooperation mechanism. From the four‑letter investment acronym coined by Goldman Sachs economist Jim O'Neill in 2001 to a multilateral cooperation platform that now connects 11 full members, 10 partner countries, and covers nearly half of the world's population, BRICS has completed its transformation from a "concept" to a "key force" in global governance.

From 'Four Countries' to 'Big BRICS'

The expansion of BRICS traces a clear growth trajectory. In 2006, the foreign ministers of the four countries met for the first time on the sidelines of the UN General Assembly in New York, turning a business concept into an intergovernmental coordination platform. In 2011, South Africa joined, turning "BRIC" into "BRICS." The Johannesburg Summit in 2023 launched a second round of expansion, with Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE formally joining, followed by Indonesia in 2025. Today, the "Big BRICS"—11 full members plus 10 partner countries—accounts for more than 50% of the world's population, over 40% of global GDP (at purchasing power parity), and contributes more than 50% of the global economic growth.

Behind the numbers lies a qualitative change in structure. The expanded BRICS now simultaneously connects populous nations, major manufacturing powers, energy producers, key agricultural regions, and critical shipping nodes. This diversity entails both greater market depth and richer resource endowments, as well as more complex interest‑coordination costs. BRICS is not a NATO‑style military alliance, nor an EU‑style integration organization. It is more like a long‑standing roundtable with a rotating chair each year. Yet it is precisely this relatively loose structure that allows countries with different political systems, development stages, and foreign policy orientations to find common ground under the same roof.

Trade, finance and economic cooperation

Whether BRICS can become a major force for global development depends not on its size, but on the substance of its actions. The most telling proof is the New Development Bank (NDB). As of 2026, the NDB has approved about 141 projects, with total approvals of approximately $44 billion. In 2026, the bank has continued to expand its portfolio: It has provided $320 million for Brazil's first public smart hospital; approved a loan of up to $1 billion to South Africa for urban infrastructure upgrades in eight major cities; and successfully issued RMB 7 billion in panda bonds in China's interbank market. These projects span transport, clean energy, water supply, housing, and digital infrastructure — not visions left on paper, but tangible works backed by disbursed financing, currently under construction, and trackable.

Another major strand of financial cooperation is local‑currency settlement and cross‑border payments. In August 2026, BRICS finance ministers and central bank governors met in Jaipur, India, to discuss improving the international monetary and financial system. The governor of the Reserve Bank of India stated that BRICS members are discussing connecting their fast payment systems and central bank digital currencies (CBDCs) to reduce cross‑border payment costs. India's proposal is to build a "digital bridge" between national CBDCs, enabling direct local‑currency settlement and bypassing the dollar as an intermediary. Russia has disclosed that 90% of its settlements with BRICS countries are already conducted in national currencies. Notably, this pragmatic approach does not entail a radical "BRICS currency"—India has made clear that it does not support a common currency—but rather seeks to link members' mature domestic payment systems to build an independent cross‑border funds network. From CIPS to SPFS to the internationalisation of UPI, a ground‑up "capillary" project in finance is quietly taking shape.

Global governance

BRICS matters as a force for global development also because it represents the efforts of emerging economies to secure institutional rights in the global governance system. Yet BRICS countries, which account for over 40% of the world's population and, at purchasing power parity, already have a combined economy larger than the G7, still lack institutional voice commensurate with their heft in core financial institutions such as the IMF and the World Bank.

At the BRICS Foreign Ministers' Meeting in New Delhi in May 2026, members explicitly called for accelerating the work of the 17th General Quota Review of the IMF, achieving a meaningful adjustment in quota shares as soon as possible, and promoting reforms of the international financial architecture to better reflect changes in the global economic landscape. In a signed article, Chinese Ambassador to India Xu Feihong noted that BRICS countries should firmly uphold the purposes and principles of the UN Charter and uphold the multilateral trading system with the WTO at its core. This is not about "starting over," but about pushing old institutions to embrace reform, so that the Global South can secure a voice commensurate with its economic weight.

Challenges and resilience

Of course, the "Big BRICS" also faces real challenges. In May 2026, the BRICS Foreign Ministers' Meeting failed to produce a joint statement due to disagreements among some members over the situation in the Middle East; instead, the chair—India—issued a chair's statement and outcome document. This reflects the reality after expansion: The more members, the harder it is to reach consensus. Iran and the UAE, both BRICS members, hold opposing positions — a tension that was less prominent in the smaller circle.

Yet the existence of differences actually highlights BRICS's unique value — it provides a mechanism for countries with divergent interests to sit down and talk. The most valuable role for BRICS in the future may not be to replace the existing international system, but to push old institutions towards reform, while offering developing countries additional choices in financing, technology, markets, and policy coordination. The more choices there are, the lower the risk when a single channel fails — and that is the simplest meaning of resilience.

Looking back at the 20‑year milestone, BRICS has grown from a "roundtable" into a cooperative ecosystem covering Latin America, Africa, and Asia, connecting billions of people. India holds the BRICS rotating chairmanship for 2026, and China will assume the post in 2027. Sustained sound coordination between the two countries will help "Big BRICS" cooperation advance steadily. When "Big BRICS" begins to speak through projects, pave the way with financing, and stand tall with reforms, it will no longer just be a "concept"— it will become a truly weighty cornerstone in the landscape of global development.

Skip generic souvenirs! Let's explore Chinese service offerings that are useful, fun, and great to bring home. AI eye scanning, smart sports, AI tennis… How many gems can we uncover in just 30 minutes? Time's up! Here are my picks from CIFTIS. What would you pick?

The second El Alamein International Airshow concluded in Egypt on Thursday, having attracted military officials, aviation experts and industry leaders from more than 50 countries.

Held over three days, the event showcased advanced aircraft, defence technologies and aerobatic displays, while providing a platform for countries to explore new partnerships.

China featured prominently at the show, with one of the largest pavilions attracting defence delegations from Africa and the Middle East.

The Chinese Air Force extended its stay in Egypt to participate in the exhibition after completing a two-week joint military exercise with its Egyptian counterpart.

Known as Eagles of Civilization 2026, the exercise was conducted at three Egyptian airbases and included advanced operational skills such as mid-air refuelling.

Egyptian officials say technology transfer and domestic production remain key priorities when selecting international defence partners.

"Partnership is based on meticulous criteria," said Mohamed Sayed, a consultant with Amstone International Group, highlighting the importance of acquiring technologies that can be transferred and eventually produced locally.

China and Egypt are also deepening cooperation in space technology. The Egyptian Space Agency says China has provided significant support as the two countries explore future projects, including cooperation related to the moon and beyond.

Meanwhile, spectacular aerial manoeuvers and low-altitude flyovers captivated spectators.

Egypt also used the event to showcase emerging domestic defence technologies, including a micro-drone system being developed to counter drone threats.

The El Alamein Airshow is increasingly positioning Egypt as a regional hub for aviation, defence technology and international military cooperation.

Business confidence among US companies in China rebounded sharply amid stronger financial performance, a more stable geopolitical landscape and perceived regulatory progress, according to AmCham Shanghai's 2026 China Business Report, released on September 10.

Of the 262 member companies surveyed, 78% said their China businesses were profitable in 2025, while 58% were optimistic about their five-year outlook in China.

The rebound in business confidence was accompanied by stronger investment activity. A total of 28% of respondents increased their investment in China in 2025, the highest share in four years. Views of the business environment also improved, with 55% describing it as transparent, up seven percentage points from a year earlier.

Eric Zheng, president of AmCham Shanghai, emphasized the great importance of the Chinese market, mainly from two dimensions.

China remains one of the most efficient manufacturing bases in the world and continues to be a highly strategic market for members' products and services, Zheng said. "That underpins the positive sentiment," he added.

Among members with US operations, three-quarters confirmed that their China presence benefits their US operations in some way, with one-third emphasizing that their China presence enhances the global competitiveness of their US operations.

A notable strategic shift is also emerging, with more surveyed companies adopting a global-oriented strategy. The "in China for the world" strategy has become the top business priority for 29% of surveyed companies in 2026, surpassing the "in China for China" model chosen by 24%.

More respondents are also betting on China-based innovation, the report said. Half of surveyed members with China-based research and development (R&D) facilities plan to increase R&D spending this year, up sharply from one-third in 2025.

In a vote of confidence in the Chinese market, General Motors (GM) in August announced a 20-year extension of its joint venture partnership with Chinese automaker SAIC Motor, with it now running to 2047.

"We will continue to strengthen our performance here in China by developing products and technologies in China, for China, and bringing them to market faster," said John Roth, senior vice president of GM and president of GM China. The joint venture plans to launch at least 30 new energy vehicle models by 2030.

"We see meaningful opportunities to grow beyond China. SAIC-GM has strong local capabilities across engineering, manufacturing and quality, and we can apply those strengths in select international markets, including the Middle East, Africa, South America, Mexico and Asia-Pacific," Roth said.

Siemens offers another example. Its Digital Native Factory in Nanjing, the German technology group's largest research and production center for computer numerical control systems, drives and electric motors outside Germany, was added to the World Economic Forum's Global Lighthouse Network in January.

The factory has introduced digital twins, modular automation and more than 50 AI applications. Siemens said these technologies had cut its time to market by one-third compared with 2022.

In a March interview with Xinhua, Siemens global executive vice president Xiao Song said the breadth of China's industries, the depth of its manufacturing system, the speed of technological innovation and the openness to new technologies created opportunities for foreign companies.

A separate 2026 survey by the European Union Chamber of Commerce in China also identified innovation, cost and speed as strengths of the Chinese market. However, it noted continuing economic pressure, market access barriers and regulatory concerns.

Jeffrey Lehman, chair of AmCham Shanghai, said members had seen improvements in the regulatory environment, reinforced by steadier China-US relations. He also called for a stable and transparent framework that supports cross-border trade and investment.

(With input from Xinhua)

Trade in services is no longer a sideshow in global economy. The real value of services trade lies not in figures, but in what it delivers for employment, productivity and development quality. This message is conveyed by the United Nations Conference on Trade and Development (UNCTAD) in its most recent technical report.

The report, "Measuring servicification and impacts of services trade and policy," frames services as the connective tissue of the modern economy. Services already account for more than half of economic activity in developing countries and almost half of employment, according to UNCTAD's analysis of World Bank data.

More importantly, services are increasingly "embedded" in other sectors—a phenomenon the report calls "servicification": the rising share of services in the input mix of agriculture, mining and manufacturing, alongside "servitization", where goods producers bundle services into their offerings or even sell the service a product provides rather than the product itself.

The scale of this integration is easy to underestimate. Services embodied as intermediate inputs in traded goods account for roughly one-third of the total value of global goods trade, based on OECD Trade in Value Added data cited in the report. Firm-level surveys suggest in-house service use in manufacturing can amount to as much as half of total costs—far above what conventional trade statistics capture.

Digitalization is accelerating both trends. UNCTAD estimates digitally delivered services grew 7% annually in value terms between 2015 and 2024, outpacing goods trade's 4% compound annual growth over the same period.

The report's first key finding challenges the traditional yardstick. Judging services trade by export value and growth alone misses the point, UNCTAD argues—what matters is whether it generates development outcomes such as jobs, wages, productivity, firm performance and industrial upgrading. 

The evidence supports this: manufacturing firms that bundle services with their products are more productive and participate more deeply in global value chains, while services sector labour productivity in developing countries has been rising steadily, narrowing the gap with developed economies.

Measuring these effects remains difficult, however. The report—which acknowledges China's financial support—notes that developing countries often already possess the data they need in national censuses, business surveys and tax records. It recommends systematic audits of existing data, more granular collection by partner and sector, and better researcher access through anonymization.

The second finding concerns policy, where the landscape is shifting unevenly. Unlike goods, services trade policy is largely embedded in domestic regulation. At the same time, the rulebook keeps evolving, most notably with the WTO Agreement on Electronic Commerce. Yet divergent regulatory approaches across economies threaten to fragment digital service flows.

The implication is that services trade policy is becoming a new space for international cooperation: as firms in every sector rely increasingly on services inputs, the knock-on effects of policy changes grow larger, and so does the cost of regulatory divergence — making coordination, not isolation, the pragmatic path forward.

China's service trade market is growing in both scale and sophistication. For multinationals, the real opportunity lies not just in selling products and services, but also in joining China's innovation, digital economy and AI development, said Andrew Wu, CEO, Dun & Bradstreet China, in an interview with CGTN. The company is making its CIFTIS debut this year.

BRICS cooperation is gaining momentum. Trade, investment and collaboration are expanding, with business ties among members booming.

Swipe through the data snapshots.

The BRICS agenda goes beyond trade and economic growth. Innovation is increasingly becoming a core component of what BRICS is really about.

From AI and quantum technology to high-performance computing and fintech, cooperation is expanding into a growing list of cutting-edge fields. 

Watch the video to learn how BRICS is turning cooperation into innovation.

The 2026 BRICS Summit is taking place September 12 and September 13 in New Delhi, India. 

CGTN joins with WION from India to launch a special BizTalk episode, assembling a panel of senior Chinese and Indian scholars and experts to find out how the expanded BRICS translate into deeper cooperation and more influential role in global governance.

BRICS has played a realistic role in responding to various challenges at a time of rising trade tensions and geopolitical fragmentation, according to Gustavo de Carvalho from the South African Institute of International Affairs.

The expansion of BRICS has significantly enhanced its representation among Global South countries, enabling it to effectively promote coordinated development among member states, says associate professor Jiang Tianjiao, the deputy director of the Center for BRICS Studies at Fudan University.

By 2031, the share of New Development Bank (NDB) projects financed in local currencies "will exceed 45%," Russian Finance Minister and NDB Board of Governors Chair Anton Siluanov said in May. It now stands at 30%, he added at the bank's Annual Meeting. 

It's a mission the bank was built for. Established in 2015 by Brazil, Russia, India, China and South Africa, the Shanghai-based NDB exists to mobilize resources for infrastructure and sustainable development across the Global South.

India's state-owned REC Limited is the latest case in point, securing an NDB loan to build renewable energy power plants, as the country expands clean energy and steps back from fossil fuels.

Wang Youming, a researcher at the China Institute of International Studies, said stronger use of local currencies in trade, investment and foreign-exchange reserves could reduce developing countries' reliance on the US dollar.

It can also shield economies from external shocks, strengthen fiscal and financial autonomy, and mitigate politically motivated sanctions, he added.

By June 2026, the NDB had approved 139 projects totaling about $42.9 billion. According to the lender, the projects have helped increase clean energy capacity by 2,400 megawatts, cut annual carbon dioxide emissions by 14.7 million tonnes, and supported the construction of 35,000 housing units, 43 schools, 1,400 kilometers of tunnels and canals, and 40,400 kilometers of roads.

In Brazil, the Pará State Water and Sanitation Infrastructure Development Project focuses on protecting drinking water, reducing pollution and restoring ecosystems. In India, the Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project aims to improve public transport, ease congestion and promote low-carbon mobility.

Beyond green infrastructure, the NDB has been developing new financing tools to address long-standing challenges – limited access to capital and exposure to exchange-rate volatility.

The NDB is not the only BRICS mechanism strengthening financial resilience. The BRICS Contingent Reserve Arrangement (CRA), established in 2015 with an initial reserve pool of $100 billion, provides a financial safety net for members facing short-term balance-of-payments pressures.

China accounts for 41% of its resources. The CRA complements existing global safety nets by giving BRICS countries an extra mechanism to respond to crises.

The NDB is also expanding beyond physical infrastructure. In June, Uzbekistan became the NDB's 10th member. Roman Sherov, vice president of the NDB, said the bank would incorporate digitalization and AI into its investments, with a focus on AI-powered digital finance over the next five years. 

Ahead of the 18th BRICS Summit in New Delhi this weekend, Lucas Enriquez Rocha, coordinator of the BRICS Study Group at the University of Sao Paulo, said in an interview with TV BRICS that the event could act as a sounding board for ideas and platform for new partnerships around AI safeguards, green finance and digital payment infrastructure.

From local-currency loans to AI, the NDB is betting that the future of development lies in the Global South's own hands. 

The world economy is undergoing a profound transformation, and BRICS countries are the ones driving it, with China and India alone set to contribute around 45% of global economic growth this year. At the same time, China's 15th Five-Year Plan is opening up new opportunities for the world. CGTN's Bhargab Sarmah says developing countries today have a genuine alternative in a world that has long been dominated by Western institutions.

The Asia-Pacific Economic Cooperation (APEC) CEO Summit 2026 will be held in Shenzhen, south China's Guangdong Province, from November 17 to 18, the China Council for the Promotion of International Trade (CCPIT) announced on Thursday.

Hosted by the CCPIT under the theme "promoting prosperity together for a win-win future," the summit will bring together around 1,000 political and business representatives from APEC economies.

Attendees will discuss topics including the building of the Free Trade Area of the Asia-Pacific, connectivity, artificial intelligence and sustainable development, offering insights for promoting economic growth in the Asia-Pacific region.

As the host of APEC in 2026, China will hold the 33rd APEC Economic Leaders' Meeting in Shenzhen from November 18 to 19. The APEC CEO Summit will be held on the sidelines of the meeting.

This is the third time China has hosted APEC, and the first time in 12 years.

China has chosen the theme "Building an Asia-Pacific Community to Prosper Together" for this year.

During the 2026 APEC "China Year," some 300 events are expected to take place across multiple cities in China, according to the Chinese Foreign Ministry.

Editor's note: Ankit Prasad is a CGTN Biz commentator. The article reflects the author's views and not necessarily those of CGTN.

For several years since its first official leaders' meeting, held in Yekaterinburg, Russia, in 2009, BRICS (initially just BRIC) was regarded in terms of other groupings, or as a counter to some prevailing bloc or architecture. In fact, the joint declaration of the first BRIC summit in Yekaterinburg, Russia, began by upholding the central role of the G20 in dealing with the 2008 financial crisis, which had at that time cast a long shadow over global affairs. The same declaration also put its faith in UN bodies to successfully tackle matters of geo-economics, besides supporting the multilateral trading system and opposing protectionism.

In subsequent years, as BRICS expanded, so did the perception around it. Over the course of a decade, it went from being a quaint coming together of developing nations named after a now-famous Goldman Sachs confabulation—to being insidiously cast as a challenge to the Western-dominated world order, or as the emerging markets' answer to the G7, or some such... Now, on the eve of its 18th Summit, the characterization of BRICS is changing again.

To put it simply, the BRICS of 2026 needn't be regarded as a counterweight to anyone. In practical terms, when you comprise 3.85 billion people or 46.3% of the world's population, 44 million square km or 29.5% of the world's land area, and account for 40% of the global GDP (in PPP terms), 26% of global trade and over half of global economic growth—that is scale that allows you to decide what you represent and what your agenda is.

The 2025 BRICS summit in Rio de Janeiro, Brazil, witnessed ten nations joining as BRICS partner countries—seen as the grouping increasingly coming to represent the aspirations of the Global South. Now, on the eve of the 18th annual summit in New Delhi, India; at a time when long-running global systems and architectures are fraying and the rule-based order is giving way to unilateralism and belligerence, BRICS appears set to complete its role-reversal.

What began as an also-ran on the fringes has now become the right-thinking mainstream lynchpin of normalcy. And normalcy has been in increasingly short supply.

For instance, the week preceding the New Delhi kick-off has been one dominated by maps. On one hand, the United Nations voted to correct a historical wrong by replacing the Mercator projection on the world map. Regions close to the equator will no longer be made to look smaller because of an antiquated centuries-old pre-science notion of the world being flat. But while the flat-earthers have finally been conquered, there are other more egregiously flawed maps being floated.

One map that has caused some disquiet in global circles has seen the flag of the US being painted over Canada and Greenland. The US President followed that up by claiming that the Moon also belongs to the US. Imprecise redrawing of maps and contrasting interpretations have been the source of a lot of strife over the years. This new 'redrawing' takes things to a whole other level of absurdity. But this map tug-of-war is just a drop in the ocean.

International cooperation via the extant mechanisms has been breaking down at all levels, leaving many global mechanisms and institutions paralyzed. Whether it be trade, the battle against climate change, or access to key technologies, systems, resources, supply chains and even the global commons—there is a tendency to hoard and weaponize like never before. The divide between the haves and have-nots is being deliberately accentuated for mercantilist gain, and entire populations are being threatened with being left behind or having their livelihoods taken away.

Sovereign governments are being boxed in, having their agency diminished. This is especially true in economic terms, due to exports of unsustainable levels of national debt, weaponization of digital public infrastructure, and the choking of supply lines resulting from conflicts and other wrangles.

More than ever before, there is a need for the spirit of global cooperation to be brought back. And that is what BRICS is amply capable of.

The 2026 presidency has already comprised dozens and dozens of topical high-level and cross-institutional meetings, such as those between central banks, national auditors, judicial systems, urbanization departments, security apparatus, space agencies and disaster response authorities. Inter-ministerial dialogues have taken place on trade, industry, agriculture, health, education and energy. BRICS science departments have developed a tentative agreement on AI. A financial framework has reportedly been proposed to meet a multi-trillion-dollar funding gap for MSMEs.

Payment mechanisms, which always evoke a keen interest during discussions around BRICS, are set to be on the agenda once again. Strong statements have also been drafted in favor of preserving and revitalizing the multilateral trading system while deepening institutional reform, among much else.

Clearly, there is a lot of work that's gone on through the year, and a whole lot of collaboration, coordination and consensus building. And ultimately, it'll come before the heads of state at the main BRICS summit, where the focus will not only be on what message this increasingly influential grouping sends to the world, but the spirit of dialogue and cooperation that entails the process.

The number 18, as we know, has symbolic value in human life. In many parts, it signifies the age at which a person reaches adulthood. This appears true in the case of BRICS as well, which steps into its 18th year far more capable, mature, and self-assured than when it started. And that is why all eyes will be on BRICS. Because the world needs an adult in the room.

The 2026 China International Fair for Trade in Services (CIFTIS) is held at Beijing Shougang Park from September 9 to 13, drawing exhibitors from 90 countries, regions and international organizations, alongside over 1,800 offline corporate participants.

A flagship showcase of China's high-level opening-up, the fair lets the world observe innovations in China's services sector and share its development gains.

China's trade in services keeps expanding and upgrading. In the first half of this year, the total value of China's services imports and exports reached nearly 3.8 trillion yuan (about $570 billion), up 8.3% year on year. Services exports exceeded 1.5 trillion yuan, rising 17.6%. Knowledge-intensive services trade hit 1.66 trillion yuan, or 44% of the total services trade volume, showing a shift to higher-value segments.

"Services consumption and trade have become a vital pillar for bolstering economic growth," said Li Jun, director of the Institute of International Trade in Services under the Chinese Academy of International Trade and Economic Cooperation.

China's enormous market offers global firms broad cooperation opportunities. In 2025, its services imports surpassed $620 billion, making it the world's second-largest services import market.

"An open Chinese economy can support global growth through trade, investment, tourism, digital services, professional services, technology and innovation," said Simphiwe Madikizela, professor of Economics at the University of South Africa.

Advancing trade in services and promoting opening up and cooperation in the services sector is not only China's choice but also a global necessity, Chinese Vice Premier Ding Xuexiang said on Wednesday.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks while delivering a keynote speech at the 2026 Global Trade in Services Summit in Beijing.

China has actively promoted trade in services and opened up its services sector wider, Ding said, adding that these efforts are creating more opportunities for countries and businesses around the world.

As the global economic and trade landscape continues to evolve, efforts should be made to strengthen the mutually reinforcing relationship between the services sector and trade in services, so as to better support the economic and social development of all countries, Ding said.

Highlighting the guiding role of opening up in developing trade in services, Ding urged measures to reduce barriers to cross-border flows of factors and promote greater liberalization and facilitation of trade in services. Such efforts will help ensure the sector's steady, long-term development in a fair and inclusive manner, he added.

Ding also called on countries to promote the sharing of digital and intelligent technologies, such as artificial intelligence, and strengthen global digital infrastructure connectivity to inject fresh impetus into the development of trade in services.

The 2026 summit was jointly hosted by the Beijing municipal government, the Ministry of Commerce, the United Nations Conference on Trade and Development, and the World Intellectual Property Organization.

Finding a supplier is just the beginning. What turns a purchase into a lasting partnership? For some, it's speed. For others, trust built over time, or the potential to grow and create new opportunities together. As CIFTIS 2026 gets underway, we look at real cross-border partnerships and ask: Why do they choose to work with partners in China?

Editor's Note: He Weiwen is a senior fellow of the Center for China and Globalization. The article reflects the author's opinions and not necessarily the views of CGTN.

Canadian counter-tariffs on US goods took effect on September 8 as scheduled, covering about 27.6 billion Canadian dollars ($20 billion) worth of imports from the US. The measures target steel, dairy, appliances, agricultural equipment, pulp and paper, plastics, electronics and other products, with tariff rates of 15%, 25% and 50% matching the corresponding US rates. Canada's existing tariffs on some steel and aluminum products have also risen from 25% to 50%.

The retaliation has strong public backing in Canada. More importantly, it has been carefully designed to hit politically sensitive US industries and states ahead of the November midterm elections.

Maine is the clearest example. Canada buys roughly half of Maine's lobster catch, and the new tariffs come during the important fall fishing season. Other targeted products include steel, aluminum and auto parts in Michigan, cheese in Wisconsin, and appliances in Kentucky. These are not just major US industries; they are concentrated in states where important congressional races are being contested.

The message from Ottawa is therefore broader than the value of the goods involved. Canada is showing that US tariff pressure can carry a political and economic cost at home.

At the same time, Canada is leaving room for negotiation. The two countries have already spent months trying to reach a broader trade arrangement, and Ottawa has made clear that it wants a fair deal rather than an open-ended trade war. The retaliation puts pressure on Washington while keeping the possibility of a negotiated settlement alive.

The direct economic impact of the US-Canada tariff fight, however, remains limited for now. The latest Canadian measures cover only a relatively small share of bilateral trade, and even a wider escalation would not by itself be likely to cause a major shock to the global economy.

The significance of Canada's retaliation lies elsewhere.

It sends a much bigger signal to the world trading system: unilateral US tariffs do not have to go unanswered.

This raises a fundamental question for global trade — Turnberry or WTO?

The Turnberry System, as described in this commentary, represents a new US approach in which tariffs are used as leverage to secure individual concessions from trading partners through bilateral agreements. The name comes from the US-EU trade framework reached at Turnberry, Scotland, in July 2025.

Under that framework, the US agreed to a 15% tariff ceiling for most EU goods, while the EU agreed to eliminate tariffs on US industrial goods and provide preferential access for a range of US agricultural and seafood products. The EU also announced plans to purchase $750 billion in US energy through 2028 and for European companies to make an additional $600 billion in investment in the US.

Turnberry therefore represents more than one trade agreement. It points toward a trading system based increasingly on bilateral bargaining, with tariffs serving as the main negotiating weapon. That is fundamentally different from the WTO system, which is built around common rules and obligations among its members.

Canada's retaliation is a direct challenge to that direction.

Ottawa is not simply matching US tariffs with tariffs of its own. Canada has also taken US tariff measures to the WTO, including its challenge over US steel and aluminum tariffs. By combining retaliation with WTO action, Canada is making a broader policy statement: unilateral tariffs that run against WTO rules should not simply be accepted as the new normal.

That matters far beyond Canada.

If major trading economies are forced to negotiate separately with Washington whenever tariffs are imposed, the global trading system could become increasingly fragmented. Common rules would gradually give way to bilateral deals in which market access depends more on bargaining power than on agreed WTO obligations.

Yet world trade has shown considerable resilience. WTO data show that world merchandise trade volume grew 4.6% in 2025 despite the sharp rise in tariffs and trade uncertainty. The resilience suggests that global trade is not simply a function of US policy. Supply chains, markets and trading relationships have continued to adjust.

That adjustment is already encouraging greater trade diversification.

Canada is looking to deepen economic relations with partners beyond the US. Other economies are doing the same, seeking new markets and supply chains to reduce their exposure to unilateral measures by any single trading power.

This does not mean the US will become less important. The US remains by far Canada's largest trading partner, and the two economies are deeply integrated. But Canada's response shows that economic dependence does not necessarily mean accepting every condition imposed by a larger trading partner.

The broader issue, therefore, is not whether Canada's CA$27.6 billion retaliation will change the global economy. It will not.

The issue is what comes next.

Will more countries accept a trading system increasingly shaped by unilateral tariffs and bilateral bargaining? Or will they use countermeasures, negotiations and the WTO to defend a system based on common rules?

Canada has chosen to push back.

Its tariffs are aimed not only at specific US products but also at politically important states and industries. Its WTO action challenges the legitimacy of unilateral tariffs. And its efforts to diversify trade show that dependence on the US market is no longer being treated as inevitable.

That makes Canada's retaliation much more than a bilateral tariff dispute. It is an early test of whether the WTO-centered multilateral trading system can withstand the rise of the Turnberry System.

Canada has made its choice: push back against unilateral tariffs, keep negotiating where possible, and keep the WTO in the game.

(Cover via VCG)

US-China economic ties have become more stable since the presidents of the two countries met in Busan at the end of 2025, said Michael Hart, president of the American Chamber of Commerce in China, in an interview with CGTN reporter Wang Tianyu. 

China and South Korea have achieved positive progress on cross-border services trade and negative-list market access during the 16th round of second phase negotiations for the bilateral Free Trade Agreement (FTA), the Chinese Commerce of Ministry said on Wednesday.

During the latest talks, held in Beijing from August 31 to September 4, both sides agreed to accelerate the remaining negotiations and strive for an early conclusion, so as to lift openness in bilateral services trade and investment, contributing to the sound and stable development of their economic and trade relations, the ministry said in a statement on its website.

China and South Korea signed the FTA in June 2015, which officially entered into force on December 20, 2015. By June 2026, the two countries had implemented twelve rounds of tariff reductions under the agreement, driving the expansion of bilateral trade.

Since December 2017, both sides have been advancing the second phase negotiations of the FTA, which aims to further elevate the levels of trade in services and investment liberalization and facilitation between the two countries.

China is South Korea's largest trading partner, while South Korea ranks as China's second-largest trading partner.

According to the Chinese General Administration of Customs, two-way trade in 2025 reached $331.24 billion, up 1.2% year on year. From January to May 2026, bilateral trade volume surged to $186.14 billion, a 43.8% jump from the same period last year.

China's consumer market remained generally stable in August, with the consumer price index (CPI) rising 0.8% year on year, according to data released by the National Bureau of Statistics (NBS) on Wednesday.

On a monthly basis, the CPI increased 0.4%, reversing a 0.1% decline in July.

Core CPI, which excludes food and energy prices, rose 1.0% year on year, 0.1 percentage point higher than in July.

Dong Lijuan, chief statistician at the NBS, said changes in international market prices and seasonal increases in food prices mainly drove the increase in consumer prices.

Meanwhile, China's producer price index (PPI), which measures prices at the factory gate, rose 3.8% year on year in August, accelerating from a 3.5% increase in July.

The PPI also increased 0.4% month on month, reversing a 0.7% decline in July.

The purchase price index for industrial producers rose 5.8% year on year and 0.3% month on month in August.

Dong attributed the monthly PPI increase to higher international commodity prices and stronger demand in some sectors as China continues to upgrade and transform its industrial sector.

During the first eight months of 2026, China's CPI rose an average of 0.9% from a year earlier. Over the same period, the PPI increased 2.0%, while the purchase price index for industrial producers rose 3.2%.

Cross-border payments and greater interoperability among national payment systems are expected to feature prominently at the 18th BRICS Summit, which will be held in New Delhi, India, on September 12 and 13, as BRICS members seek to make trade and financial transactions faster, cheaper and more accessible.

One key distinction is that connecting payment systems does not mean creating a common BRICS currency. India has made it clear that its focus is on interoperability among existing fast-payment systems and central bank digital currencies, rather than establishing a new currency.

On August 11, Reserve Bank of India Governor Sanjay Malhotra said that BRICS members were discussing ways to connect fast-payment systems and central bank digital currencies (CBDCs). 

"Various options are on the table, but it is still at discussion stage, including CBDCs and linkages of fast payment systems," he said.

India's Commerce and Industry Minister Piyush Goyal also rejected the idea of a common BRICS currency on August 7. "India is not in favor of a BRICS currency. We do not support the introduction of any such BRICS currency scheme; India opposes it," Goyal said.

Meanwhile, the use of local currencies in trade is growing. Kremlin spokesman Dmitry Peskov said on September 8 that around 90% of Russia's payments and transactions with BRICS countries are now conducted in national currencies. But he stressed that this should not be interpreted simply as a drive to eliminate the dollar. "We do not seek de-dollarisation. On the contrary, we are open to any possible method of payment," Peskov said.

Practical links between national payment networks are also emerging. China UnionPay International launched a pilot project with Brazilian partners to connect China's QR payment network with Brazil's Pix system. During the pilot, users of the UnionPay app and participating Chinese bank apps can scan QR codes to make payments at Brazilian merchants connected to Pix.

BRICS leaders have endorsed further work on payment interoperability. BRICS' 2025 Rio de Janeiro Declaration called for "fast, low-cost, more accessible, efficient, transparent, and safe cross-border payments" and welcomed technical work on greater interoperability among BRICS payment systems.

The US has banned a swath of Canadian alcoholic beverages, motorcycles and dairy products, sharply escalating an already bitter trade spat.

The import bans, effective September 29, were ​published on the White House's website after Canada's retaliatory tariffs kicked in at midnight Tuesday.

Those Canadian tariffs followed 50% US duties on some $20 ‌billion of Canadian goods last month, after several rounds of talks collapsed.

The breakdown has widened the rift between the longtime allies, with each side blaming the other for the failed negotiations. Canadian Prime Minister Mark Carney has urged a further shift away from the US, casting doubt on the viability of the US-Mexico-Canada Agreement.

"We have everything we need to pivot and prosper," Carney said in a YouTube video Tuesday. "That pivot will come at a cost. There's always a cost to action. But it doesn't come close to the cost of standing still." ​

The US ban appears to cover most booze, including beer and various types of wine, whisky, bourbon, rum, vodka, vermouth, tequila, mezcal, and brandy. The dairy ban covers whey protein, molasses and ​non-alcoholic beer, according to White House notices.

Various cheese products were also added to 50% tariff list, but not ⁠banned outright. Paper, aluminum, wood, furniture and lighting were also hit.

Hours before the latest import bans, President Donald Trump ordered Canadian products removed from US government contract lists.

"Canada has been ripping us off for years," he said, accusing America's northern neighbor of blocking US firms from federal and provincial government contracts. "That is not reciprocity, it is a Canadian Trade Scam."

"I am hereby directing the GSA (General Services Administration), working with the USTR (United States Trade Representative), to take all necessary steps to REMOVE Canadian-origin products from GSA's Multiple Award Schedules unless Canada restores full and fair reciprocity for American Farmers and Companies," he wrote on Truth Social. "NO RECIPROCITY - NO ACCESS!" 

(With input from Reuters)

Chinese Vice President Han Zheng on Monday met separately with Bulgarian Deputy Prime Minister Alexander Poulev, Cambodian Deputy Prime Minister Sun Chanthol and Serbian Deputy Prime Minister Adrijana Mesarovic, who are in Xiamen for the 26th China International Fair for Investment and Trade.

While meeting with Poulev, Han said that under the strategic guidance of the leaders of the two countries, the China-Bulgaria strategic partnership has maintained sound and steady growth in recent years, with fruitful cooperation in agriculture, science and technology and other fields, delivering tangible benefits to both peoples.

Han expressed China's readiness to work with Bulgaria to implement the important consensus reached by the leaders of the two countries, expand the scale of bilateral trade, strengthen investment alignment, deepen mutually beneficial cooperation, and promote the sustained growth of China-Bulgaria relations. He also voiced the hope that Bulgaria will actively contribute to the sound and stable development of China-EU economic and trade relations.

Poulev, also minister of economy, investment and industry of Bulgaria, said his country attaches great importance to its relations with China. He noted that Bulgaria is willing to learn from China's development experience, step up practical cooperation in various fields, and welcome Chinese enterprises to invest and do business in Bulgaria.

While meeting with Sun Chanthol, Han said China is ready to work with Cambodia to implement the important consensus reached by the leaders of the two countries, give full play to the role of the China-Cambodia Intergovernmental Coordination Committee, further deepen practical cooperation in various fields, promote the integration of trade and investment, and continue to advance the friendly and cooperative relations between the two countries.

Sun Chanthol, also first vice chairman of the Council for the Development of Cambodia, said Cambodia and China have a profound friendship and have always trusted and supported each other. He reaffirmed Cambodia's commitment to the one-China principle and expressed readiness to deepen cooperation with China in areas such as economy, trade, investment, tourism and combating cyber fraud, and to actively advance Belt and Road cooperation for the benefit of the two peoples.

While meeting with Mesarovic, Han noted that in recent years, under the strategic guidance of the heads of state of the two countries, China-Serbia relations have achieved leapfrog development. He said China is willing to work with Serbia to implement the important consensus reached by the two heads of state, continuously deepen political mutual trust, make good use of the preferential arrangements of the bilateral free trade agreement, deepen cooperation in economy and trade, investment, infrastructure, emerging industries and other fields, and encourage Chinese enterprises to invest and do business in Serbia.

Mesarovic, also Serbian economy minister, said Serbia values the high-level mutual trust between the two countries and reaffirms its commitment to the one-China policy. Mesarovic expressed gratitude for China's strong support for Serbia's national development and said Serbia is ready to enhance strategic alignment with China, continuously deepen cooperation in various fields and bring benefits to the two peoples.

In rural Pakistan, solar panels assembled into home power and storage systems are changing everyday life. The systems not only provide electricity but also support agricultural irrigation, offering farmers a more reliable energy source.

In many parts of Pakistan, Chinese-made solar panels have even become a popular wedding gift. Decorated with red cloth and flowers, solar panels are sometimes displayed alongside wedding vehicles as a symbol of a practical household investment. The panels are often described as affordable, durable and capable of meeting regular families’s electricity and storage needs.

The growing popularity of such products reflects a broader transformation in Belt and Road cooperation. In the first seven months of 2026, China's exports of electric vehicles, lithium batteries and photovoltaic products to Belt and Road partner countries reached 482.24 billion yuan (about $71.85 billion), up 59.8% year on year, according to cinic.org.cn

From goods trade to technology partnerships

After 13 years of development, the Belt and Road Initiative (BRI) is evolving from a network focused on trade connectivity into one centered on technological collaboration and industrial upgrading.

Increasingly, Chinese companies are exporting not only products, but also high-value solutions that help partner countries build their own industrial capabilities.

On August 28, 2026, an F-class 50-megawatt heavy-duty gas turbine, an advanced turbine used to generate electricity, began its journey from Deyang, southwest China's Sichuan Province, to Kazakhstan. It marked the first overseas export of a fully domestically manufactured high-end heavy gas turbine from China.

Once completed, the project will become Kazakhstan's first gas-fired combined-cycle power plant and has been listed as a key project by the country's energy authorities.

In Malaysia, traditional rubber processing plants are being upgraded with Chinese artificial intelligence algorithms and industrial robots. The technology has reduced labor costs by 20 to 30% while improving production precision, with each 35-kilogram rubber block now produced with a weight difference of less than 20 grams.

Following the launch of the first upgraded production line in January 2025, the factory quickly moved ahead with upgrades for its second and third lines.

Beyond physical infrastructure, digital connectivity is becoming a new pillar of the BRI.

From smart ports and digital customs systems to cross-border electronic payments, the Digital Silk Road is reshaping how countries trade and interact, reducing transaction costs and improving efficiency.

By expanding digital infrastructure and services, the initiative is helping bridge the global digital divide and creating new opportunities for emerging economies to participate in the digital economy.

A two-way path toward shared growth

The BRI is also dispelling the misconception that cooperation is simply a one-way transfer from China to other countries. Instead, projects increasingly emphasize local participation, skills development and shared economic benefits.

Indonesia's Jakarta-Bandung High-Speed Railway is one example. In the first half of 2026, the railway operated 10,640 train services, achieving an on-time rate of 99.4% and an overall passenger satisfaction score of 95.79.

During the project's operation, Chinese experts trained Indonesian employees through mentorship programs and hands-on practice, enabling local staff to independently handle key positions in passenger services and equipment maintenance.

Industrial cooperation zones have also become platforms for local growth. So far the China-Egypt TEDA Suez Economic and Trade Cooperation Zone has attracted more than 200 companies, over $4.7 billion in investment and created more than 10,000 local jobs.

Meanwhile, Luban Workshops, a network of vocational training centers launched in BRI partner countries, have expanded skills development opportunities. Since the first workshop opened in 2016, more than 100 professional programs have been launched worldwide, enrolling over 30,000 students and providing more than 160,000 training opportunities in fields including renewable energy, smart manufacturing and automotive repair, according to China’s Ministry of Education.

From solar panels in villages to digital networks and advanced manufacturing, the Belt and Road Initiative is moving beyond traditional trade links to build a broader ecosystem of technology, skills and shared development.

Provisional anti-dumping measures will be imposed on dichlorosilane (DCS) imported from Japan, following a preliminary ruling that the product was being dumped in the Chinese market, China's Ministry of Commerce announced on Monday.

In accordance with China's anti-dumping regulations, importers will be required to provide cash deposits to Chinese customs at rates ranging from 80.8% to 99.2%, based on each company's designated margin ratio, effective September 8, 2026.

The investigation was initiated on January 7, 2026, in response to an application from the domestic industry. The probe was conducted in strict compliance with Chinese laws, regulations and World Trade Organization rules.

Preliminary evidence showed that dumped Japanese imports had caused substantial material injury to the domestic industry, and that a causal relationship existed between the dumping and the injury, the ministry's spokesperson said.

China exercises prudence and restraint in using trade remedy measures and remains committed to fair and free trade, the spokesperson added. The ministry will continue its investigation in accordance with the law, fully safeguard the rights of all interested parties, and issue an objective and fair final ruling based on the findings.

DCS is a key material in chip manufacturing, primarily used in thin-film deposition processes – such as epitaxial films, silicon carbide films, silicon nitride films, silicon oxide films and polysilicon films – for the production of logic chips, memory chips, analog chips, among others. It is also used in the synthesis of silicon-based precursors and polysilazanes.

A little less "one-size-fits-all," a lot more local flavor – Chinese snack makers are tweaking flavors, formats and products for overseas markets, helping everything from seafood bites to gummies make their way onto shelves worldwide. 

The 2026 China International Fair for Trade in Services (CIFTIS) is forthcoming. Please answer the following questions to share your views.

(Cover: The flower bed themed around the CIFTIS at Shougang Park in Beijing, China, September 7, 2026. /VCG)

China's Ministry of Finance will issue 300 billion yuan ($41.7 billion) in special treasury bonds to support eight state-owned financial institutions in replenishing their core Tier 1 capital, according to a statement by the ministry on Monday.

The eight institutions include the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Export-Import Bank of China, China Export & Credit Insurance Corporation, People's Insurance Company of China (PICC), China Life Insurance Company, China Taiping Insurance Group and China Reinsurance Corporation.

Several following announcements on the Shanghai Stock Exchange showed that ICBC plans to raise up to 100 billion yuan and ABC up to 160 billion yuan through A-share issuances to designated investors, with investments from the Ministry of Finance, China National Tobacco Corporation and its relevant subsidiaries. The eight institutions plan to raise a combined 360 billion yuan. 

The Ministry of Finance will also inject 30 billion yuan into the Export-Import Bank of China and 10 billion yuan into China Export & Credit Insurance Corporation.

The Ministry of Finance said the capital injections will help strengthen the institutions' capacity for sound operations and risk management, while enhancing their ability to serve the real economy. The move is also expected to support their high-quality development and provide stronger financial backing for stable and healthy economic growth.

A broader re-capitalization effort

The latest move follows a similar round of capital replenishment last year.

In 2025, the Ministry of Finance issued 500 billion yuan in special treasury bonds to support four major state-owned commercial banks — Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China — in replenishing their core tier-one capital.

Compared with last year, the latest round covers a broader range of institutions, extending beyond major commercial banks to include policy-oriented financial institutions and state-owned insurers.

Analysts see the move as a forward-looking effort to strengthen the capital base of major financial institutions and ensure they have sufficient capacity to support economic activity.

"Technological innovation, industrial upgrading and the expansion of domestic demand are generating strong financing needs, requiring financial institutions to maintain stable support," said Yu Xiang, the chief policy analyst at CITIC Securities, in an interview with Xinhua.

He noted that the inclusion of policy-oriented financial institutions reflects the distinct roles played by different types of financial institutions. With stronger capital bases, these institutions can better perform their countercyclical functions and provide more stable medium- and long-term financing for major projects and industrial transformation, he said.

Further enhance capital strength

For policy-oriented financial institutions, the focus is closely linked to their role in supporting national strategies and economic development.

The Export-Import Bank of China said the capital injection will significantly enhance its capacity to provide funding for the real economy and support China's opening-up, while strengthening its resilience in risk management.

China Export & Credit Insurance Corporation said the additional capital will help expand the coverage of export credit insurance and enable it to better fulfill its policy-oriented role in supporting the real economy.

A representative of China Life said the re-capitalization will further strengthen the company's underwriting capacity and risk resilience, allowing it to provide greater insurance and financial support for the high-quality development of the real economy.

According to estimates by China International Capital Corporation, the 300 billion yuan in new capital could potentially support about 4 trillion yuan in asset expansion once the re-capitalization is completed. This could enhance the institutions' capacity for direct credit expansion and external mergers and acquisitions, while providing additional support for the real economy and financial risk prevention.

Beijing's Shougang Park is putting on a visual feast for China International Fair for Trade in Services 2026! The former steel factory is hosting spectacular, naked-eye 3D light shows projected right onto its historic cooling towers.

The 2026 China International Fair for Trade in Services (CIFTIS) will be held from September 9 to September 13 in Beijing. As global services trade continues to surge, major exporting economies are posting solid growth, reshaping international commerce and fueling a new wave of global economic activity. 

Check out the posters for more! 

Transformative technologies must reach small and medium enterprises everywhere amid the digital wave, Eduardo Pedrosa, the executive director of the APEC Secretariat, said at the 32nd APEC Small‑and‑Medium Enterprises Meeting held in Guangzhou, China.

What does the green transition look like on the ground? CGTN joins media professionals from across APEC economies in south China's Greater Bay Area to find out.

From a zero-carbon shared lab in Hengqin to a smart substation powering Macao, as well as wind turbines operating overseas, the journey follows how research, technology and regional cooperation are helping turn clean-energy ideas into real-world solutions.

This year marks the 10th anniversary of the Hangzhou G20 Summit held in 2016. To further promote trade, cultural exchanges and people-to-people ties, diplomats, officials and experts from 30 countries, including Portugal, the Netherlands, Indonesia and the US, gathered in Hangzhou on September 5 to celebrate Hangzhou International Day. They shared their views on how improving the business environment can help boost global trade and drive economic growth.

Hong Kong aims to help enterprises from Belt and Road partner countries expand their markets and lower transaction costs to unlock regional growth potential, Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, wrote in his blog on Sunday.

With the 11th Belt and Road Summit set to take place at the Hong Kong Convention and Exhibition Centre from September 9 to 10, Chan said that this year's summit will feature a new "Go Global" session to support Chinese mainland enterprises in expanding overseas.

The event will also focus on energy, artificial intelligence, the low-altitude economy and urban development, alongside field visits to facilitate exchanges and collaboration, Chan added.

Chan said more than 100 enterprises from Belt and Road partner countries, with a combined market capitalization exceeding 340 billion Hong Kong dollars (about $43.4 billion), were now listed in the city and some Central Asian state infrastructure firms were also eyeing a debut on the local exchange.

Chan also pledged that Hong Kong will continue to leverage its unique strengths under the "One Country, Two Systems" policy and take concrete actions to contribute to the building of a community with a shared future for humanity.

(With input from Xinhua)

Brazilian President Luiz Inacio Lula da Silva said Saturday that he would defend Brazil's Pix payment system in talks with US President Donald Trump, as Washington has cited the platform in its tariff dispute with Brazil.

Speaking at a political event in Sao Jose do Rio Preto, in the southeastern state of Sao Paulo, Lula said he would raise the issue during a possible meeting with Trump in September on the sidelines of the UN General Assembly in New York.

"I will meet Trump at the UN and tell him to use Pix and see how good it is," Lula said.

Pix was launched by Brazil's central bank in November 2020 and allows instant payments and transfers 24 hours a day, seven days a week. It has become one of Brazil's main payment methods.

Lula's remarks came amid a trade dispute between Brazil and the United States, including additional tariffs of up to 25% on certain Brazilian products and US criticism of Brazil's digital payment system.

Editor's note: He Yinghao is an assistant researcher at the Institute for National Strategy and Regional Development, Zhejiang University. The article reflects the author's opinions and not necessarily the views of CGTN.

More than a decade after the Belt and Road Initiative (BRI) was proposed, the key question is not how much has been built, but why so many countries continue to participate.

China has signed BRI cooperation documents with more than 150 countries and 30 international organizations. Despite their differences, many share similar needs: Better infrastructure, lower logistics costs, more investment and stronger links between global trade and domestic development. The BRI's appeal lies in matching these needs with China's development capabilities.

Meeting unmet development needs

For many developing countries, connectivity remains a basic constraint on growth. Over the past decade, the BRI has helped address this gap through large-scale infrastructure development. By the end of 2025, Chinese construction contracts in BRI partner countries had reached a cumulative value of about $837 billion. Investment in transport, energy and logistics has helped connect resources and production centers with domestic and international markets.

The BRI has also expanded from infrastructure to productive investment. Cumulative Chinese investment in BRI countries had reached about $561 billion by the end of 2025. Manufacturing and technology have also become more prominent areas of BRI engagement. In 2025 alone, technology and manufacturing-related engagement reached nearly $28.7 billion, including projects in EV batteries, data centers and other high-tech industries. These projects help build productive capacity alongside physical connectivity.

The BRI's appeal also lies in its flexibility. Development priorities differ across regions. In Southeast Asia, it has strengthened connectivity and production networks; in Central Asia, Eurasian transport corridors; in the Middle East, energy cooperation and industrial diversification; and in Africa and Latin America, infrastructure, clean energy and access to markets.

Turning connectivity into growth

The economic benefit of infrastructure projects becomes clearer once projects are put into use. By July 2026, the China-Laos Railway had transported more than 20 million tonnes of cross-border cargo since it began operations in December 2021. The cargo variety on the China-Laos Railway has expanded from just over 10 initial categories to more than 4,000 types of goods, while its freight services now connect with 19 countries and regions across South and Southeast Asia.

In Indonesia, the Jakarta-Bandung High-Speed Railway, or Whoosh, has cut travel time between Jakarta and Bandung from around 3 hours to about 45 minutes. By October 2025, it had carried more than 12 million passengers since commercial operations began in October 2023. With stations increasingly connected to industrial areas, commercial centers and other transport networks, the railway is also creating new possibilities for economic activity along the corridor.

Across the Pacific, Peru's Chancay Port has opened a new direct maritime gateway between South America and Asia. Peru's Ministry of Transport and Communications said that the new route has cut shipping time to Asia by about 10 days, from roughly 35 to 25 days, lowering logistics costs and improving export competitiveness. The port is also developing into a regional logistics hub. Peru is advancing industrial and logistics development around Chancay, while neighboring countries are starting to use the port to reach Asian markets.

Taken together, these projects illustrate the broader economic logic of connectivity: Infrastructure matters not simply because it is built, but because it reduces time and costs, expands market access and generates new flows of trade and investment.

Practical benefits shape local views

A 2026 ISEAS-Yusof Ishak Institute survey of 1,134 users of Chinese-built transport projects in four Southeast Asian countries found that about 90% rated project quality as good or very good. More than 75% said the projects have improved their lives, while over 70% reported direct financial benefits.

Similar patterns can be found elsewhere. The Pew Research Center found that positive views of China among Nigerians living within 150 kilometers of a Chinese-built railway rose from an average of 62% during its construction to 71% in the four years after its completion. A broader Pew survey found that a median of 72% across nine middle-income countries in Africa and Asia viewed Chinese companies as good for their economies.

These views are not unconditional. Concerns over debt, environmental impacts and who benefits locally remain, but the surveys suggest that people often judge cooperation by visible results and practical gains.

From infrastructure to long-term development

After more than a decade, people's expectations are shifting from infrastructure itself to what it can bring. Partner countries increasingly want roads and ports to support industries, local businesses and jobs, while seeking more cooperation in green energy, digital connectivity, skills and technology.

This shift is particularly important for the Global South, where new transport, energy and digital networks are strengthening links among developing economies. Despite their different national circumstances and development paths, many BRI partners share similar needs: Better access to markets, productive investment and greater opportunities for development.

The enduring appeal of the Belt and Road Initiative may ultimately lie in something more practical: Expanding the range of development opportunities available to its partners.

Indonesia is actively exploring ways to bring Chinese technology into its market and create new opportunities for both countries, said Maman Abdurrahman, Indonesia's minister of micro, small and medium enterprises, during an interview with CGTN at the 32nd APEC Small and Medium Enterprises Ministerial Meeting. 

The world's largest sovereign wealth fund—Norway's Government Pension Fund Global (GPFG), managed by Norges Bank Investment Management (NBIM)—has proposed slashing the weightage of government bonds in its benchmark index from 70% to 50%, a move expected to cut its exposure to US Treasuries by approximately $80 billion. The proposal, outlined in a letter to Norway's Ministry of Finance, is far from an isolated event. It is the latest in a cascade of signals—from central banks offloading US debt to multiple nations repatriating gold reserves—that point to a growing crisis of confidence in the dollar-centric financial order.

Norway's sovereign fund shifts away from US Treasuries

NBIM's proposal would reduce global government bond allocations in GPFG's portfolio by about $106 billion, with US Treasuries bearing the brunt of the reduction: Their share of the fund's bond portfolio would drop from 34.1% to 21.9%. The fund, which manages $2.3 trillion in assets, said the shift would allow it to increase exposure to higher-risk bonds and diversify sources of risk premium.

Central banks accelerate US Treasury sell-off

Foreign central banks have been offloading US government debt at an accelerated pace. According to US Federal Reserve data, foreign official holdings of US Treasuries held in custody at the New York Fed have plunged by $82 billion since late February to approximately $2.7 trillion, the lowest level since 2012. Over 200 central banks and sovereign wealth funds participated in the reduction.

In Japan, the largest foreign holder, holdings fell to $1.12 trillion in June, down 2.3% month on month. China's holdings of US Treasury debt stood at $633.4 billion in June, down from $659.3 billion in May, remaining the third-largest non-US ⁠holder. China's holdings in June were the lowest since September 2008, when holdings tumbled to $618.2 billion, Reuters reported.

Multiple nations repatriate gold from the US

The Netherlands' central bank announced that it had moved 86 tonnes of gold from New York and Ottawa to London between March and August, cutting the share of its bullion held in New York from 31.3% to 18.5%. France's central bank has completed the transfer of 129 tonnes of gold from New York, bringing all 2,437 tonnes of its gold reserves to domestic soil.

Why the dollar faces a crisis of confidence

Soaring US debt is undermining fiscal credibility. The US national debt surpassed $40 trillion in August, according to data released by the US Treasury Department. The Congressional Budget Office projects net interest payments to exceed $1 trillion in fiscal 2026—about 19% of the federal revenue. 

At the same time, the weaponization of the dollar is eroding global trust. In 2022, the US and its allies froze some $300 billion in Russian central bank assets, a move that set a dangerous precedent and prompted nations to reassess dollar dependence. More recently, in August 2026, the US Treasury threatened to cut Iran off from the dollar system under "Operation Economic Outcast," reinforcing fears that the dollar has become a geopolitical weapon.

Meanwhile, alternative mechanisms are gaining momentum. The BRICS payment system is set for launch in 2026, with the bloc recently completing its first live test of "The Unit"—a blockchain-based digital settlement asset—for energy trade in the Gulf. The United Arab Emirates formally withdrew from OPEC and the OPEC+ mechanism on May 1, 2026, further loosening the petrodollar system.

China is ready and committed to sharing its development advantages with Asia-Pacific countries and beyond, said Pakistani reporter Muhammad Zamir Assadi.

As China's advanced manufacturing expands globally, its cost advantage has become a subject of debate. Is it driven by unfair competition, scale, or years of supply chain development and innovation? At the Asia-Pacific Media Forum, CGTN speaks with international delegates to hear their views.

High-speed trains race through the loess hills of Gansu and the Qilian Mountains in northwest China. Since this section opened, travel efficiency for residents in mountainous areas has greatly improved. This is China's high-speed rail—transforming lives, one journey at a time.

A new fishing season kicks off in the Yellow and Bohai Seas. Over 12,000 fishing boats from Shandong Province set sail together, hauling in the autumn catch. Click for more!

From the global economy to multilateral cooperation, BRICS has grown far beyond a grouping of emerging economies. It also reflects the growing push among developing countries for closer cooperation and a bigger voice in global affairs. As the grouping expands, so does the scope of cooperation across the Global South.

How far has BRICS come, and what role is it playing today? Watch to take a closer look ahead of the 2026 BRICS Summit. 

Editor's note: Yang Hangjun is a professor & the executive dean of the Graduate School of Excellence at the University of International Business and Economics. This article reflects the author's opinion and not neccesarily that of CGTN.

On September 4, 2016, the G20 Hangzhou Summit had convened. The summit's logo, inspired by the traditional bridges of Jiangnan water towns, symbolized a bridge of cooperation and mutual benefit connecting the international community. A decade later, as global tariff barriers rise and the multilateral trading system weakens, China is building its bridges wider and farther than ever before.

From proposing concepts to providing public goods

Ten years ago, China was an agenda-setter; today, it has become a provider of global public goods. For a mega-economy, openness is itself a public good: it signifies not only access to goods and capital but also the release of demand to the world. 

Effective May 1, 2026, China implemented zero tariffs on all products from all 53 African countries with which it has diplomatic relations. Notably, 33 least developed countries (LDCs) in Africa have already enjoyed zero-tariff treatment on 100% of their tariff lines since December 2024. Crucially, this policy is unconditional and does not require reciprocal concessions. Consequently, China has become the first major economy to grant comprehensive zero-tariff coverage to all its African diplomatic partners and all diplomatically recognized LDCs. 

Furthermore, since 2018, China has hosted eight consecutive sessions of the China International Import Expo (CIIE), the world's first national-level exhibition dedicated to imports, accumulating intended transaction volumes exceeding $580 billion. By proactively opening its ultra-large-scale market, China provides businesses worldwide with certainty and tangible export opportunities.

From aligning with rules to shaping them

Over the past decade, China has actively driven its opening-up strategy to evolve from the flow of goods and factors of production toward institutional opening-up centered on rules, regulations, management, and standards — transitioning from a "rule-follower" to a "rule-shaper." 

China has signed 24 free trade agreements (FTAs) covering 31 countries and regions. The Regional Comprehensive Economic Partnership (RCEP) entered into full force for all 15 member states in June 2023. In October 2025, the Protocol to Upgrade the China-ASEAN Free Trade Area Version 3.0 was signed, expanding cooperation into emerging fields such as the digital economy, green economy, and supply chain connectivity. Meanwhile, having applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA) in 2021, China has already participated in ten rounds of DEPA chief negotiator meetings. 

From facilitating RCEP to co-shaping the China-ASEAN FTA 3.0 and participating in digital trade rule-making, China is providing actionable institutional frameworks for regional economic integration at the rule-making level.

Offering an alternative model for the Global South

The aspect of China's model of openness most appreciated by the Global South lies in its inclusivity and non-exclusivity. It adheres to the principles of extensive consultation, joint contribution, and shared benefits; respects non-interference in internal affairs; and places development at the center—rather than imposing predetermined development models or attaching political conditions. Formal openness does not equate to equal opportunity: countries with inadequate infrastructure and weaker institutional capacity often face disproportionately higher costs of participation under identical rules. Truly inclusive openness does not demand that all economies compete according to the same model or at the same pace; rather, it preserves space for countries at different stages of development to access markets, integrate into industrial chains, and build domestic capabilities. What the Global South needs is not pressure to "take sides," but more options. Initiatives such as the expansion of BRICS membership, the operational launch of the China-Laos Railway, the accelerated construction of the China-Thailand railways, and the scaling up of the Cross-Border Interbank Payment System (CIPS) serve as compelling evidence of China's commitment to this development philosophy.

A decade ago, China advocated for an open world economy in Hangzhou. Ten years later, while resistance to openness has intensified, so too has China's capacity to provide openness as a global public good. When some choose to build higher walls, another choice remains steadfastly available: building bridges, so that more nations may share in the opportunities of development through connectivity. 

(Cover via VCG)

As trade frictions and protectionism are weighing on the global economy by disrupting supply chains and fueling inflation, all countries must firmly uphold multilateralism and work collectively to tackle shared global risks and challenges, People's Bank of China (PBOC) Governor Pan Gongsheng said at the 2026 G20 Finance Ministers and Central Bank Governors Meeting.

The second G20 finance meeting of the year was held from August 31 to September 1 in Asheville, North Carolina, under the US G20 presidency. Discussions centered on the global economic outlook and prospects, promoting growth, global imbalances, and sovereign debt of developing countries.

Trade protectionism weighs on global economy

Pan pointed out that trade frictions and protectionism are disrupting supply chains, fueling inflation, and unsettling market expectations. The rise of trade protectionism, the over-politicization of national security issues, and an unpredictable policy environment are major factors behind the worsening global imbalances in recent years. Addressing global imbalances requires structural reforms by all countries — deficit countries should reduce fiscal deficits and raise savings rates, while surplus countries should moderately boost consumption and investment growth.

China has never deliberately pursued a trade surplus. It remains committed to expanding domestic demand and pursuing high-standard opening-up, offering its large market as new opportunities for all parties and contributing to a new round of global economic rebalancing, Pan emphasized.

China's economy on steady footing as structural transformation advances

Pan said China's economy is running generally stable with steady progress, and structural improvements are ongoing. The Chinese government is pressing ahead with economic structural upgrading and transformation, which has been designated a strategic priority in the 15th Five-Year Plan (2026-2030).

During the 15th Five-Year Plan period, China aims to drive growth through several key initiatives, he told the meeting. First, the country will focus on transforming its growth model, pursuing high-quality and sustainable development while investing in both people and infrastructure to boost human capital accumulation. Second, China will prioritize scientific and technological innovation to enhance productivity. Third, efforts will be made to improve the market-oriented, law-based business environment, reduce transaction costs for enterprises, stabilize expectations for market entities, and stimulate market vitality. Support for small and medium-sized enterprises will be strengthened to ensure a level playing field for all types of market players, the PBOC Governor said. Fourth, China will promote inclusive growth by improving the income distribution system and the social security system, narrowing urban-rural and regional development gaps, and balancing efficiency with equity.

Broad consensus: Strengthen policy coordination to address growth obstacles

Participants at the meeting acknowledged that the global economy faces multiple risks and challenges, but remains resilient. To achieve a stable and predictable growth environment, countries should strengthen policy coordination to reduce uncertainty for market entities. All parties support the G20 financial track in strengthening experience-sharing to address obstacles to growth. Participants also called on the G20 to enhance cooperation in supporting developing countries' debt resolution and urged both surplus and deficit countries to work together to ease global imbalances.

Li Chenggang, China's international trade representative with the Ministry of Commerce and vice minister of commerce, met with a delegation of the Board of Directors of the US-China Business Council on Wednesday.

According to China's Ministry of Commerce, the two sides exchanged views on issues including China-US economic and trade relations.

When a mudslide hit Gyirong, China's Xizang Autonomous Region, drones flew together in the same airspace, keeping rescue teams connected when nothing else could. This is what technology looks like when lives depend on it.

Seventy years after establishing diplomatic relations, China and Egypt have little reason to measure their relationship simply by its endurance. More revealing is how the nature of their economic cooperation has changed. For much of the past two decades, this partnership was associated with familiar indicators: expanding bilateral trade, infrastructure development and Chinese investment in Egypt. But they no longer capture the direction in which the relationship is moving.

A quieter transformation is underway. China and Egypt are gradually shifting from a model built around the movement of goods to one centered on the co-development of industrial capacity, regional production networks, and financial connectivity. That evolution matters not only for the two countries themselves, but also for other emerging economies seeking new pathways to industrialization in an increasingly fragmented global economy.

The changing structure of bilateral trade reflects this shift. While trade between China and Egypt reached a record $20.8 billion in 2025. Around two-thirds of China's exports to Egypt now consist of intermediate goods rather than finished consumer products. This distinction is crucial. Unlike finished products, intermediate goods forge deeper industrial linkages. They enter factories instead of supermarkets, serving as components for locally manufactured products. This creates demand for domestic suppliers and integrates local producers into wider production networks. Egypt is thus becoming not only a destination for Chinese exports, but also a production base connected to regional and global markets.

The partnership is gradually moving from a simple formula of "made in China, sold in Egypt" toward something more complex: "designed in China, manufactured in Egypt, supplied to regional markets."

The China-Egypt TEDA Suez Economic and Trade Cooperation Zone offers perhaps the clearest illustration of this transition. Its significance lies not just in the number of companies it hosts, but in the ecosystem it has cultivated. Nearly 200 enterprises operate in the zone, supported by integrated logistics, customs services, workforce training and government coordination. These institutions reduce one of the biggest obstacles facing overseas manufacturers: the high transaction costs associated with entering an unfamiliar market.

Industrialization today is not simply about building factories, it also depends on whether firms can recruit skilled workers, connect with reliable suppliers, navigate regulations and move products efficiently across borders. In that sense, TEDA exports something less visible than machinery or capital — It exports an organizational model that lowers the barriers to industrial investment.

The experience of several Chinese manufacturers illustrates how this model has evolved.

China XD Electric, for example, entered the cooperation zone in the late 2000 as an equipment manufacturer. Since then, it has expanded into engineering, procurement and construction services. As of mid-2025, the company had participated in more than 30 power transmission and substation projects across Egypt. Its role has gradually shifted from supplying equipment to supporting the development of local industrial capabilities.

Jushi Egypt tells a similar story in a different sector. Before the company's investment, Egypt had virtually no fiberglass manufacturing industry. Today, the country has become one of the world's leading producers and exporters of fiberglass, serving markets far beyond its own borders. The significance of the project lies not only in employment or investment figures, but in the successful incubation of an entirely new manufacturing sector from the ground up.

From Cairo's perspective, this approach aligns closely with its own economic priorities. Successive Egyptian governments have emphasized industrial localization not simply to replace imports, but to expand the country's manufacturing base and strengthen its role as a regional export platform. Geography gives Egypt a unique advantage. Positioned at the crossroads of Africa, the Middle East and Europe, connected by the Suez Canal and a broad network of regional trade agreements, it offers manufacturers access to multiple markets from a single production base.

For Chinese manufacturers, Egypt has transformed from a conventional export destination into a strategic gateway. For Egypt, meanwhile, Chinese investment brings not only capital, but also manufacturing knowhow, supplier networks and production management experience that support longer-term industrial development. This profound complementarity explains why bilateral cooperation has increasingly prioritized the establishment of joint production platforms over the mere expansion of trade volumes.

The same logic is becoming visible in financial cooperation.

In June 2026, China and Egypt expanded their bilateral currency swap agreement from 18 billion yuan to 30 billion yuan. This followed a broader memorandum of understanding between their respective central banks, including cross-border payment arrangements and exploring connectivity with the Cross-Border Interbank Payment System (CIPS).

These moves are often labeled as "de-dollarization," but this geopolitical narrative misses the practical economic reality. For many emerging economies, the primary objective is not to replace the US dollar, but to diversify payment options, reduce transaction costs and improve resilience against exchange-rate volatility. Local-currency settlement provides an additional financing tool rather than a substitute for the existing international monetary system. As trade and investment between developing economies continue to expand, greater flexibility in cross-border payments may become increasingly valuable regardless of broader geopolitical debates.

Taken together, the industrial and financial dimensions of China-Egypt cooperation point to a broader shift in the nature of South-South cooperation.

For decades, cooperation among developing countries was often associated with infrastructure projects, commodity trade or development finance. Those forms of cooperation remain important, but they are increasingly being complemented by something different: the joint creation of manufacturing capacity, regional value chains and production networks designed to serve third-country markets.

Whether this model can be replicated elsewhere will depend on local conditions. Egypt's strategic location, its trade agreements and its manufacturing ambitions cannot easily be reproduced. Nor does every emerging economy possess China's industrial scale or production capabilities.

Nevertheless, the China-Egypt experience offers an important observation. As global supply chains undergo necessary diversification, cooperation between developing economies is no longer confined to trade flows or investment figures. Increasingly, it is about how countries combine complementary strengths to create new centers of production, expand regional value chains and strengthen their own capacity for industrial growth.

Ultimately, this may prove to be the most significant legacy of 70 years of economic cooperation between China and Egypt — not as a blueprint for others to copy, but as an example of how South-South partnerships are evolving beyond traditional patterns of trade towards a more integrated model of shared industrial development.

From booming trade and Chinese investment to the Suez Economic and Trade Cooperation Zone and deeper financial cooperation, China-Egypt partnership is moving beyond trade — and creating jobs, investment and new opportunities. (Cover via VCG)

The 4th Digital Xinjiang Innovation Forum was held on Monday in Karamay, northwest China's Xinjiang Uygur Autonomous Region, drawing nearly 200 delegates from government, industry, and academia to discuss digital transformation and artificial intelligence.

As a flagship event for the region's digital agenda, the forum underscores Karamay's commitment to its "AI Plus" strategy, with local officials pledging to turn outcomes into concrete actions and expand AI applications to boost Xinjiang's digital economy.

It may come as a surprise to a lot of people that Egypt is a top exporter of frozen strawberries. Now China is becoming a top buyer. Since May 1, 2026, China scrapped tariffs on imports from Egypt, lowering the cost of market access. Yasser Hakim and Chen Tong file this report from the two countries.  

Satellite-powered portable weather stations are aiding emergency rescue efforts following a severe mudslide at Gyirong Port, southwest China's Xizang Autonomous Region. Watch how high-tech tools are supporting rescue teams on the front lines.

Economic and trade cooperation between China and Kyrgyzstan has maintained steady growth in recent years, with tangible results achieved across a wide range of sectors.

The two countries have continued to improve customs clearance procedures, expand the range of traded goods and facilitate business cooperation, driving steady growth in bilateral trade.

China has long been Kyrgyzstan's largest trading partner. From January to July this year, bilateral trade reached $11.7 billion, with exports of electric vehicles, lithium-ion batteries and photovoltaic products, as well as mechanical and electrical products, growing rapidly. Cooperation in services trade and cross-border e-commerce has also continued to advance.

The Kyrgyzstan-China (Chongqing) Economic and Trade Cooperation Center provides a glimpse into the deepening business ties between the two countries. The center offers companies from both sides one-stop services, including policy consultations and business matchmaking, helping expand cooperation beyond traditional freight trade into areas such as new energy, cross-border e-commerce and modern agriculture.

Chongqing's imports and exports with Kyrgyzstan surged by more than 50% year on year in the first seven months of this year, according to data.

"We regularly invite Kyrgyz distributors to visit Chongqing, where they can inspect and purchase products firsthand," said Hu Qingpeng, executive director of the center. "In the automobile sector alone, our exports exceeded 100 million yuan ($14.9 million) from January to July, up more than 70% year on year."

China has also become an important market for Kyrgyzstan's specialty agricultural and food products, including high-altitude honey and dairy products. A number of Kyrgyz agricultural products, including kidney beans and dried fruits, have completed quarantine protocol procedures for export to China.

Wool and cashmere are also important industries in Kyrgyzstan, which has abundant livestock resources. Last year, the two countries signed a quarantine protocol for washed wool and cashmere exports to China, opening up greater access to the Chinese market for Kyrgyzstan's livestock products. China is also accelerating to expand the range of Kyrgyz products eligible for import.

Beyond trade, investment and economic and technological cooperation between the two countries have continued to deepen.

China is Kyrgyzstan's largest source of foreign investment, with Chinese direct investment across all sectors exceeding $2 billion as of the end of July this year. Cooperation in infrastructure, energy, mining, agriculture and green development is progressing steadily.

Chinese companies have so far helped build or upgrade more than 10 highway projects in Kyrgyzstan, significantly improving local transport infrastructure and making travel and freight transportation more convenient.

The China-Kyrgyzstan-Uzbekistan railway is one of the flagship projects. Construction officially began in December 2024, with the railway set to connect the three countries and establish a major transport corridor linking China with Central Asia and the wider Eurasian continent.

The railway's section in Kyrgyzstan will stretch 304.84 kilometers and include 29 tunnels and 50 bridges. Bridges and tunnels will account for nearly 40% of the total route. Once completed, the railway is expected to shorten the logistics route through Kyrgyzstan by about 900 kilometers, significantly reduce transportation costs and stimulate economic development along the route.

Green energy is another area of growing cooperation. In December last year, Kyrgyzstan officially launched its first large-scale solar power plant – a 100-megawatt (MW) facility in the Kemin District of the Chui Region.

The project was built and is operated with the participation of Chinese companies. With a designed annual power generation capacity of 200 million kilowatt-hours, the plant is capable of supplying a stable power supply to nearby communities and cities, helping end power rationing that had affected local residents.

Spanning trade, investment, infrastructure, energy and emerging industries, China-Kyrgyzstan economic cooperation is creating new opportunities for businesses, improving people's livelihoods and injecting fresh momentum into the economic development of both countries.

When disaster strikes, the priority should be saving lives — not spreading rumors or pointing fingers.

This mudslide originated from a high-altitude ice collapse in Nepal and reached Gyirong Port in southwest China's Xizang Autonomous Region in just seven minutes, leaving almost no time for an effective early warning.

People need to work together and focus on getting those affected to safety. Nature is unpredictable enough. We don't need misinformation making things worse.

For years, blurred vision made even a simple bus ride a challenge for Joomart Kokumov, who lives in Bishkek, Kyrgyzstan. 

However, after he received free eye treatment from a joint Chinese-Kyrgyz medical team, Joomart's vision improved. Now, he has the chance to represent Kyrgyzstan on the world stage as a goalball player.

In mountainous areas of China's Yunnan where rain had made roads difficult to pass, farmers used drones to transport tonnes of cabbage efficiently.

The next wave of consumer growth in China may come from beyond the biggest cities. New national measures are encouraging county-level markets to upgrade commercial facilities, bring in more brands, and develop new forms of retail sales. In China's administrative system, a county-level city is an administrative area below a major prefecture-level city, often combining an urban center with surrounding towns and rural areas. And in east China's Yiwu, a county-level city better known for selling goods to the world, a new story is emerging: people are increasingly willing to spend at home. 

In response to the devastating mudslide in Gyirong Port, southwest China's Xizang Autonomous Region, China's Ministry of Emergency Management has mobilized a joint drone unit under the national disaster response mechanism.

Editor's note: Ma Xiaobai is director and a research fellow at the Multinational Corporations Research Office, Enterprise Research Institute, Development Research Center of the State Council. Chen Gong is a lecturer and PhD at the Education and Training Center for Officials and Entrepreneurs, State-owned Assets Supervision and Administration Commission of the State Council. This article reflects the authors' opinion and not neccesarily those of CGTN.

Artificial intelligence (AI) is emerging as a strategic and foundational technology in China. From exploring pathways toward artificial general intelligence (AGI) to advancing the "AI Plus" initiative, China has continued to strengthen policy support, integrating AI into industrial and social sectors to drive digital and intelligent transformation.

The National Data Administration is also advancing work on a token-based value system and exploring new models, including token trading.

The scale of AI activity is already striking. China's daily token usage has surged from 100 billion at the beginning of 2024 to more than 140 trillion as of March this year. Tokens are becoming a new indicator of activity in the intelligent economy.

But there is a more important question behind that number: Does using more tokens necessarily mean creating more value? To answer that, we need to look at how different AI development paths are taking shape around the world.

The US has clear advantages in computing power, chips and capital. Leading companies have placed greater emphasis on "scaling laws," continuously pushing the performance ceiling of foundation models by investing more in parameters, data and computing power. This approach has helped push the boundaries of what AI models can do. But it also comes with a huge bill: Higher costs for training and inference, as well as growing energy consumption.

Chinese AI companies are also racing to develop models with cutting-edge capabilities. But alongside raw performance, they are putting greater emphasis on a different equation: capability, cost and usability.

Algorithmic innovation, sparse activation, engineering optimization and open-source ecosystems are helping lower the barriers to AI adoption. The rapid iteration of models such as DeepSeek, Kimi and GLM reflects this trend.

On August 26, Zhipu launched and open-sourced GLM-5.3-Flash. Artificial Analysis, a third-party AI evaluation organization, gave the model an Intelligence Index score of 57, well above the median of 28 for comparable open-weight models, indicating a favorable balance between capabilities and cost.

And this points to something bigger.

The competition among large AI models is no longer simply about who can make the most powerful model. It is increasingly about who can make that intelligence affordable, efficient to run and scalable enough to be deployed widely.

Of course, the AI development paths of China and the US cannot simply be reduced to a question of which one is better.

The more important question is whether these different technological approaches can eventually support sustainable business models.

Global investment in AI is heating up, but so are concerns about excessive spending and bubble risks. Whether there is a bubble cannot be judged by capital expenditure or model valuations alone. The real test is much more straightforward: Is AI actually making the economy more productive?

If massive investment only produces higher rankings, bigger models and impressive demos, the commercial prospects of AI will inevitably come under scrutiny. But if AI can raise labor productivity, reduce social costs, create new products and generate new demand, then what looks like massive spending today could become the infrastructure of tomorrow.

This is where China's particular strengths in AI development come into play. China has a comprehensive industrial system, a huge market and an unusually wide range of real-world application scenarios.

For consumers, intelligent assistants are rapidly making their way into smartphones, automobiles and home devices.

In cultural tourism, personalized itineraries, intelligent tour guides, multilingual services and visitor-flow forecasting are reshaping how people experience travel.

In finance, intelligent customer service, risk identification, compliance reviews, and research and investment assistance are becoming increasingly integrated into everyday business processes. And perhaps nowhere is the transformation more tangible than in industry.

AI is already being applied to intelligent quality inspection, equipment failure prediction, production scheduling and digital twins. These are not just demonstrations of what AI can do. They are tests of what AI is actually worth. That is why the key to turning tokens into real value is to put technological investment against actual output. Have companies reduced costs and energy consumption? Has product quality improved? Have R&D cycles become shorter? Have new sources of revenue and employment emerged?

Token usage can tell us how active the AI economy is. But productivity created per token may tell us much more about the quality of AI commercialization. This may be the more meaningful race ahead.

China's AI sector needs to move from competing over parameters to competing over applications, and from counting tokens to creating value. That means balancing fundamental innovation with industrial empowerment, combining cost reduction with open ecosystems, and matching rapid technological development with agile governance.

The real sign that AI has crossed the threshold into commercialization is not that machines can generate more content, write longer answers or score higher on benchmarks. The real question is whether AI can deliver higher productivity across more industries at a cost sustainable for businesses and society. Ultimately, the value of intelligence is not measured by how much a machine can produce, but by how much better we can shape the real world.

In place of an earlier dirt track, a smooth new road now winds around the famed Issyk-Kul lake – linking villages, boosting business, and bringing hope to families like Meerbek's. As China and Kyrgyzstan join hands, this lakeside route isn't just asphalt and bitumen. It's opportunity. It's connection. It's the road to a brighter tomorrow. 

The Third APEC Senior Officials' Meeting of the year opened in Dalian on Thursday. The meeting comes at a pivotal point in China's APEC host year, as discussions across different areas now feed into preparations for the APEC Economic Leaders' Meeting in Shenzhen in November. CGTN spoke to attendees about why this meeting matters, with less than three months to go before the leaders' meeting in Shenzhen.

Japan's services producer price index rose 3.6% year on year in July, accelerating from a revised 3.4% increase in June and exceeding market expectations, according to data from the Bank of Japan.

The rise is significant because service prices are more closely linked to domestic wage and cost pressures than prices of imported goods. It suggests that companies are increasingly passing higher labor and operating costs on to customers, making Japan's inflation less dependent on external shocks alone.

The latest services data followed the release of July consumer inflation figures. Japan's core consumer price index, which excludes fresh food, rose 1.8% from a year earlier, up from 1.6% in June and marking a second consecutive monthly acceleration. A measure excluding both fresh food and energy increased 1.9%, according to government data.

Headline consumer inflation stood at 1.9% in July. Taken together, the figures point to a broader price trend. Japan is still facing strong pressure from imported goods and energy, but price increases are gradually reaching services, where persistent inflation could become more deeply embedded in the domestic economy.

That is particularly important for the BOJ after years in which Japan struggled to generate sustained inflation. A temporary jump in import prices can fade when commodity prices or exchange rates stabilize. But service inflation driven by wages and domestic costs is harder to reverse without weaker demand or tighter monetary policy.

The weakened yen keeps import pressure alive

The currency remains at the heart of the problem.

The yen was trading around 159.3 per dollar on Thursday, keeping it close to the 160 level despite growing expectations for a BOJ rate hike.

A weaker yen makes imported energy, food and raw materials more expensive in domestic currency terms. That pressure is already visible in Japan's upstream price data: The country's producer price index rose 7.2% year on year in July, while the yen-based import price index jumped 29.1%.

Trade data also shows why the foreign-exchange market matters for Japan's inflation outlook.

Japan recorded a 634.5 billion yen trade deficit in July, as imports jumped 27.8% year on year, outpacing a 23.2% increase in exports.

The trade figures matter for the yen beyond their headline deficit. Japanese importers need foreign currency to pay overseas suppliers. When the import bill rises, companies have a greater need to purchase dollars and other currencies, creating actual demand for foreign exchange and potentially adding to downward pressure on the yen.

That creates a difficult feedback loop: A weaker yen raises import costs, higher costs feed into corporate prices, and broader inflation increases pressure on the BOJ to tighten monetary policy.

Yet the same trade flows can keep the yen under pressure even when markets are already pricing-in a rate hike.

September rate hike moves into focus

The combination of broader inflation and a weak currency is making the BOJ's September meeting increasingly important.

The central bank raised its policy rate to 1% in June and left it unchanged in July. Its next policy meeting is scheduled for September 17-18.

Market expectations have shifted sharply. A Reuters poll found that 57% of economists expected the BOJ to raise its policy rate to 1.25% in September, compared with just 5% in the previous month's survey. 

BOJ Deputy Governor Ryozo Himino reinforced those expectations on Thursday, saying policymakers should pay greater attention to upside risks to inflation and arguing that timely rate increases could help prevent the need for more abrupt tightening later. He stopped short of explicitly signaling a September hike.

For the BOJ, the issue is therefore becoming less about whether Japan has inflation and more about how persistent that inflation will prove to be.

The central bank has to balance two opposing risks. Moving too slowly could allow higher import costs and service prices to become entrenched, while tightening too aggressively could weigh on household spending and business activity.

The yen adds another layer of uncertainty. Even as expectations for a September hike have risen, the currency remains near 160 per dollar. That suggests the interest-rate gap with the United States, global capital flows and Japan's demand for imported goods continue to offset some of the support that a tighter BOJ policy might otherwise provide.

For now, Japan's latest data offers a clear message: Inflationary pressure is spreading beyond imported goods and into services, while the weak yen continues to amplify the cost shock.

With the currency once again approaching 160, the September BOJ meeting could become a test not only of Japan's commitment to monetary normalization, but also of whether higher interest rates can finally help break the cycle of yen weakness and imported inflation.

Editor's note: Wang Yiwei is vice president of the Academy of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and also director of the Institute of International Affairs at Renmin University of China. The article reflects the author's opinions on the idea and not necessarily those of CGTN.

August 17, 2026 marks the 10th anniversary of the first Symposium on Advancing the Development of the Belt and Road Initiative (BRI) held in China. Over the past decade, four successive national-level symposiums have established phased strategic priorities, guiding the BRI from an ambitious vision into a mature, institution-based framework for global cooperation.

Launched in 2013 as an initiative centered on infrastructure connectivity, the BRI has continuously evolved. It has moved beyond traditional infrastructure investment toward a broader model of high-quality cooperation that integrates livelihood improvement, institutional coordination, green development, digital transformation and multilateral governance.

Recent research covering nearly 200 economies has delivered a compelling empirical verdict: rather than creating so‑called "debt traps," BRI participation has on average reduced sovereign debt pressure and curbed corruption risks for partner nations. The long‑circulated "debt‑trap diplomacy" narrative is largely a geopolitical construct, often detached from real‑world project outcomes and debt restructuring cases.

From infrastructure connectivity to institutional connectivity

Infrastructure connectivity remains the foundation of the BRI. Cross-border railways, ports, energy corridors and logistics networks have improved market access, connected landlocked economies and reshaped regional supply chains. At the same time, the growing emphasis on "small but beautiful" projects has expanded the initiative's focus toward practical benefits, including healthcare, clean water, digital connectivity, education and vocational training, directly improving the livelihoods of communities across the Global South.

Beyond physical infrastructure, institutional connectivity has become an increasingly important pillar of the BRI. Platforms such as the Secretariat of the Belt and Road Forum for International Cooperation, the International Mediation Institute and the Belt and Road News Network have strengthened cooperation in dispute resolution, policy coordination and information exchange. These mechanisms have helped transform individual projects into more structured, rules-based and sustainable partnerships.

The evolution of the BRI reflects China's broader transition toward high-quality development. The 15th Five-Year Plan period (2026-2030) represents a crucial stage in China's modernization journey, as the country seeks to consolidate its transition from rapid growth toward innovation-led and sustainable development. During this period, China is expected to continue expanding its middle-income population, shifting development priorities from aggregate GDP growth toward improvements in per capita income, productivity and quality of growth.

Within this broader transformation, Chinese-style modernization is also evolving from a domestic development model toward a framework with wider global implications. This requires the BRI to move from a first-stage model focused primarily on infrastructure expansion toward a second-stage model centered on shared development, sustainability and global cooperation.

From BRI 1.0 to BRI 3.0: Evolution toward high-quality global connectivity

The first phase of the BRI, or BRI 1.0, emphasized connectivity through major infrastructure projects and factor-based development driven by land, capital and labor. This stage laid the foundation for economic integration by addressing infrastructure gaps across regions.

The second phase, BRI 2.0, represents a shift toward innovation-driven, green, clean and sustainable development. It aligns more closely with internationally recognized standards and focuses not only on investment scale but also on development quality, environmental responsibility and social benefits.

Under this framework, the concept of spillover effects has become central to understanding the future direction of the BRI. These effects can be examined through the following three major dimensions.

First, the focus is shifting from development outcomes viewed primarily from the perspective of Chinese investors to broader benefits for co-building countries. The BRI increasingly seeks to strengthen local industries, expand fiscal capacity, create employment opportunities and enhance people's sense of gain through a combination of large-scale infrastructure and targeted livelihood projects.

Second, cooperation is moving beyond physical connectivity toward institutional and people-to-people connectivity. While infrastructure remains important, future cooperation will increasingly involve alignment of standards, rules and governance practices. China's applications to join frameworks such as the CPTPP and DEPA, along with the establishment of high-standard pilot free trade zones, demonstrate this broader effort to promote deeper economic integration.

Third, the BRI is evolving from primarily bilateral cooperation toward regional, cross-regional and multilateral collaboration. This reflects a broader transformation of globalization itself – from a centralized model toward more diversified, interconnected networks involving multiple regions, supply chains and development partners.

China's future development planning emphasizes integrated connectivity across land, sea, air and cyberspace. In this sense, the high-quality BRI represents a new form of globalization: not a center-periphery structure, but a distributed and interconnected network based on cooperation, mutual benefit and shared development.

This expansion of spillover effects extends beyond economics into social governance, institutional development and broader international cooperation. In this regard, the BRI has entered a new stage – what can be described as BRI 3.0.

BRI 3.0 places less emphasis on numerical expansion and more on substantive outcomes. While the earlier stage highlighted participation by more than 150 countries and over 30 international organizations, the new stage focuses on improving quality, effectiveness and long-term sustainability.

The future trajectory of the BRI will therefore combine bilateral partnerships with regional integration and cross-continental cooperation. It represents an effort to move from traditional economic globalization toward a more inclusive form of globalization characterized by orderly multipolarity, equitable cooperation and shared development.

Toward a new era of spillover effects

The global environment, however, remains challenging. Since 2022, economic fragmentation, rising protectionism and intensifying climate risks have disrupted international production networks. At the same time, some Western-led development financing mechanisms have been criticized by developing countries for attaching excessive political conditions to infrastructure support, limiting development options for the Global South.

Against this backdrop, the BRI continues to evolve. After more than a decade of practice, it has transitioned from large-scale infrastructure construction toward high-quality, sustainable and inclusive cooperation.

The 15th Five-Year Plan period provides a new opportunity to deepen this transformation. Future priorities include strengthening three-dimensional connectivity networks, balancing landmark infrastructure projects with "small but beautiful" livelihood programs, and expanding emerging areas of cooperation such as the Digital Silk Road, green industries and cross-border artificial intelligence cooperation.

Lithium is essential to the global clean energy transition, and it's bringing in millions of dollars in investment and export profits for countries like Argentina.

It is found in abundance high up in the Andes, and it powers our phones, computers and our vehicles.

CGTN's Joel Richards traveled to the Andes mountains for this report.

For more, check out our exclusive content on CGTN Now and subscribe to our weekly newsletter, The China Report.

This summer, Yiwu International Trade Market in east China's Zhejiang Province has been bustling with overseas buyers and tourists, turning the city into a unique destination where international visitors can experience China's products, technology and manufacturing capabilities firsthand.

Known as the world's largest wholesale market for small commodities, Yiwu is increasingly becoming a window into China's fast-evolving manufacturing and consumer markets. For many foreign visitors, a trip to the city is no longer simply about sightseeing – it is about shopping and discovering what is new in China.

At the market, a Syrian tourist who asked to be called Saed tried out a range of high-tech products, including dancing robots, interactive robotic dogs and a new-generation robotic exoskeleton.

"It's better than I expected. Honestly, it's shocking," Saed said. "There are a variety of products in the city. I traveled a lot. In other countries, you don't see this level of development. I've already been shocked."

In the first half of 2026, Yiwu International Trade Market received an average of 294,000 visits a day, up 34% year on year. Overseas visitors averaged 12,000 a day, an increase of 30%.

For international visitors, the market offers much more than a one-stop shopping experience. They can try AI-powered customized products, smart toys and other emerging consumer products while getting a close-up look at the speed and dynamism of Chinese manufacturing.

As he explored the market and tried out various smart devices and innovative products, Saed was struck by the pace of China's technological development.

"I think people should come to China every year, or even every few months, to keep up with the technology, because the technology is developing way too fast," said Saed.

From low-cost goods to rapid innovation

The influx of visitors has also brought more business to local merchants.

"During the summer holiday, customer traffic has increased by about 50% year on year," said Li Shujun, a merchant at Yiwu International Trade Market. "We're seeing quite a lot of customers from Brazil, Argentina and Chile."

An expanding range of technology-driven products is helping Yiwu attract buyers with increasingly diverse needs.

"Chinese AI products are particularly attractive," said a merchant named Ruan Xiaolong. "Today's robots can speak multiple languages, and some even have their own emotions and facial expressions."

Yiwu's ability to respond quickly to changing consumer demand can also be seen in seemingly ordinary products.

During the 2026 FIFA World Cup in the United States, Canada and Mexico, a China-made fan hat that provides both shade and airflow unexpectedly went viral on social media. By early July, overseas orders for the product had surpassed 700,000 units.

The evolution of a simple hat – becoming lighter and more compact while adding new functions – reflects a broader shift in the way Yiwu products compete globally.

Innovation in Yiwu is no longer driven solely by individual merchants coming up with new ideas. In 2025, the city granted nearly 9,000 patents and newly recognized more than 100 enterprise research and development institutions at various levels.

Merchant Long Xijin said his company launches hundreds of new products every year. New designs are first tested in stores to gauge market response, with resources then focused on products that prove popular.

"Overseas customers believe Chinese products are constantly evolving through research and innovation," Long said. "They are also willing to share their ideas and new concepts with us, and we use their needs to guide our product development."

Zhang Chenggang, head of the Institute for Social Governance and Development at Tsinghua University, said Yiwu's competitive edge has evolved considerably.

"If Yiwu's advantage in the past was mainly reflected in price, its core competitiveness today lies in a combination of quality, innovation and the ability to respond quickly to market demand," Zhang said. "Yiwu's small commodities have long moved beyond simple price competition and entered a new stage centered on value creation and understanding consumers' needs."

Policy support is also making Yiwu more attractive to international visitors. Measures such as China's 240-hour visa-free transit policy and "instant tax refunds upon purchase" for eligible departing travelers have further enhanced the city's appeal. The number of tax-refund stores in Yiwu has increased from seven to 42, with 28 offering instant refunds at the point of purchase.

The growing popularity of "shopping tourism" has helped boost Yiwu's tourism sector, with the city generating 17.45 billion yuan ($2.59 billion) in tourism revenue in the first half of 2026, up 10.2% year on year.

From robots and smart gadgets to everyday goods with unexpectedly creative designs, Yiwu offers international visitors a snapshot of how quickly Chinese products are evolving – and why more and more travelers are coming to China with room in their luggage for much more than souvenirs.

China's film and live performance markets are gaining momentum, with booming cultural activities generating spillover benefits across the wider consumer economy.

The country's 2026 summer box office, including pre-sales, surpassed 10 billion yuan ($1.5 billion) as of the afternoon of August 16, according to box office tracker Beacon. A diverse lineup of films has helped fuel the summer movie boom, with commercial hit Once Upon a Time in the Middle East raking in more than 800 million yuan ($118.6 million) in ticket sales just six days after its release.

The strong box office performance has also boosted investor sentiment. More than 20 film-related stocks have posted gains since the beginning of August, according to Securities Times.

But the impact of a thriving film market extends far beyond the box office. Behind the growing demand is an expanding industry ecosystem. By the end of July, China had added 363 cinemas and 2,215 screens nationwide, making moviegoing increasingly accessible as part of everyday life.

According to the National Film Administration, every 1 yuan in box office revenue can generate 15.77 yuan in output across the wider industrial chain. The country's film industry value chain has surpassed 380 billion yuan this year, with closer integration emerging between film, tourism and technology.

Live performances are also drawing large crowds. Concerts, music festivals and immersive shows have become popular choices for consumers. In the first half of the year, China hosted more than 320,000 commercial performances, generating a box office revenue of 30.4 billion yuan and attracting nearly 98.8 million viewers.

Large-scale events are also creating broader economic benefits. The consumption multiplier effect of major performances reached 6.85, meaning every 1 yuan spent on tickets generated 6.85 yuan in related consumption, including spending on food, hotels and transportation.

New service models are further extending the impact of cultural events. Sun Jiashan, a researcher at the Central Institute of Socialism, said special train services for concertgoers create a seamless experience spanning travel, performances, consumption and the journey home. By enhancing convenience and the overall experience, they can also drive additional spending. 

The model could be replicated in other areas, such as dedicated trains for sports fans or museum visitors, linking cultural and tourism experiences and fostering integrated business models, Sun added. 

Meanwhile, cultural experiences are becoming more accessible beyond major cities. Wang Qingyi, deputy dean of the School of Cultural Industries Management at Communication University of China, said regular touring performances of high-quality productions help lower the cost of enjoying professional arts and promote a more balanced distribution of cultural resources.

From movie theaters to live stages, China's entertainment sector is evolving into a broader consumer ecosystem. As more diverse content and innovative formats emerge, cultural activities are becoming an increasingly important driver of spending and urban vitality.

(Cover Via VCG)

What if the sun… had a backup? China is building one in Hefei, Anhui Province. It is an artificial sun powered by controlled nuclear fusion, copying the very same reaction that fuels our real‑life sun. 

Editor's note: Jiang Wenran is a two-time Japan Foundation Fellow, founding director of the China Institute, Mactaggart Research chair emeritus at the University of Alberta, and an advisor at the Institute of Peace & Diplomacy. The article reflects the author's opinions and not necessarily the views of CGTN.

Today, August 15, marks the 81st anniversary of Japan's unconditional surrender in 1945. Just 15 days earlier, on July 31, Tokyo inaugurated its new National Intelligence Bureau (NIB) — a date marking the anniversary of the Kwantung Army's 1937 mobilization, a symbolism noted by regional observers. For a nation that constitutionally renounced war eight decades ago, the NIB is a new institutional keystone of a remilitarization project that prioritizes "guns over butter," locking in massive defence spending at the direct expense of a struggling populace.

The legislative process was staggering. The ruling coalition, lacking an Upper House majority, bulldozed the bill through the House of Representatives in just 41 days. Despite protests that have grown to tens of thousands — with demonstrators warning that the bureau would become a tool to "monitor society and suppress citizens," and prominent lawyer Noriaki Fukuyama denouncing the bill as "an evil law that has completely failed to learn from the lessons of World War II" — the short legislative blitz has sidelined debate while dismantling postwar pacifist guardrails.

The NIB provides the intelligence backbone that underpins Japan's record 9.04 trillion yen ($58 billion) defence budget, which has already met the 2% of GDP target set out in the 2022 National Security Strategy two years ahead of schedule. Yet, Tokyo is now drifting toward the NATO-aligned 3.5% benchmark that Washington has pressed its allies to adopt — a target referenced, though not yet formally adopted, in Japanese Cabinet's July economic and fiscal policy guidelines.

In contrast, China's 2026 defence budget of 1.91 trillion yuan ($275 billion) accounts for about 1.3% of GDP, below the global average of 2.5%. The per capita disparity is starker: Japan's defence spending, 80,000 yen per head, is more than three times that of China, reflecting a density of militarization that places Japan's fiscal health under severe strain: Government debt has topped 1,300 trillion yen, with the IMF projecting a debt-to-GDP ratio of well over 200% for 2026 — the highest among major economies. Debt-servicing costs have crossed 30 trillion yen for the first time, consuming over a quarter of all public expenditure.

To finance the gap, the Takaichi administration is imposing a painful triple squeeze: Issuing massive government bonds, hiking taxes, and slashing non-priority social spending. Japan's general account budget has hit a record for the second consecutive year, reaching 122.3 trillion yen in fiscal 2026, while new bond issuance accounts for 24.2% of the budget. The government is financing its record defence outlay primarily through debt — with roughly 60% of the defence spending reliant on new bond issuance — a burden that will ultimately fall on younger and future generations.

The administration has begun rolling out a "defence tax" trio: Phased tobacco tax hikes beginning in April, a 4% corporate "defence special tax" effective April, and a 1% "defence special income tax" effective January 2027. Meanwhile, medical and educational budgets face continuous compression, and food's share of household spending has reached a 40-year high. Real wages have declined for four consecutive fiscal years. As the Asahi Shimbun commented, guns now take clear priority over butter — yet the public is being asked to foot the bill for missiles it never voted for.

Public backing for this trade-off is thin and contradictory. A Fitch global survey last year ranked Japan last among 91 nations, with just 13.2% of citizens willing to fight. Yet 82% support Prime Minister Takaichi's Taiwan contingency remarks. This glaring gap between bellicose posturing and personal commitment underscores a simple truth: Japan's remilitarization is elite-driven, not popular. Recent domestic media polls show over 60% of the public opposes tax hikes to fund rearmament, 57.2% reject lifting the ban on lethal weapons exports (per a Kyodo News survey), and Takaichi's approval rating has dropped to 41% with dissatisfaction at 44% (per a Mainichi Shimbun poll).

The NIB is the institutional tool that makes this top-down push possible. Elevated from the former Cabinet Intelligence and Research Office, it now holds sweeping authority to compel all ministries — Defence, Foreign Affairs, Justice, and Police — to surrender intelligence data. Its director reports directly to the prime minister, bypassing traditional procedural checks.

This centralization dismantles the decentralized intelligence architecture built under US occupation to curb militarism. Critics warn that the bureau's vague functional boundaries and near-absence of parliamentary oversight invite comparisons to the prewar "Tokkō" (Special Higher Police). By breaking internal firewalls, the NIB lets the government monitor domestic dissent while coordinating offensive capabilities abroad.

The beneficiaries of this concentrated power are clear. Takaichi's right-wing core gains a streamlined tool to push remilitarization with minimal institutional oversight. Defence contractors secure locked-in procurement pipelines — backed by 9.04 trillion yen in statutory defence spending— that are largely insulated from democratic reversal.

The revolving door between defence bureaucrats and industry entrenches this alignment: Defence ministry officials frequently retire into executive roles at major contractors, while three leading heavy industry firms — Mitsubishi Heavy Industries, Kawasaki Heavy Industries and IHI — saw their defence order backlogs reach 6.25 trillion yen as of March 2026, with their share prices having nearly doubled from their peak earlier in the year.

The establishment of the NIB, alongside record defence budgets and relaxed weapons export rules, marks a calculated move to reshape the Japanese state. It cements a shift away from the pacifist, economically balanced postwar settlement toward a centralized, militarized "normal country." The 41-day legislative sprint, the 9 trillion yen defence behemoth funded by public austerity, and the historical echoes of July 31 all point to the same reality: Tokyo has built the institutional brain for a remilitarization project whose full costs — fiscal, social, and democratic—are only beginning to surface.

Eighty-one years after Japan's surrender, the road paved by the NIB has shifted from the pacifist constitution, toward a future where the state's intelligence apparatus serves the ambitions of political elites rather than the welfare of the people it claims to protect.

Promoted by some Western media and policy circles, the so-called "China Squeeze" narrative doesn't match reality. As Columbia University historian Adam Tooze has argued, the narrative rests more on counterfactual assumptions than on observed economic evidence. 

Check out the posters for the full picture.

US President Donald Trump on Thursday signed an executive order imposing minimum import prices and a 15% tariff on products made from polysilicon, a key material for solar panels and semiconductors.

The minimum import prices will be set at $21 per kilogram for polysilicon and $100 per kilogram for polysilicon ingots and wafers, according to a White House proclamation. The new trade measures are scheduled to take effect on December 4.

Trump also directed the US Commerce Department to establish a program to encourage investment in domestic production of raw polysilicon and related downstream products.

According to a White House fact sheet, the measures are aimed at creating "a level playing field for American producers of these strategic goods," encouraging the "onshoring of these industries," and protecting "US national security and its defense and defense-adjacent industrial base."

According to the fact sheet, the US share of global polysilicon production capacity declined from 50% in 2005 to less than 2% in 2024.

A hotter summer is fueling a "cool" business. From iced drinks and cooling gadgets to summer getaways, staying cool is becoming a new driver of consumption.

CGTN launched "China Cool: The Business of Summer" to see how the summer heat is creating new opportunities for businesses.

China's services trade expanded by 8.3% year on year in the first half of 2026, according to data released by the Ministry of Commerce on Tuesday.

The total value of service imports and exports reached nearly 3.78 trillion yuan (about $556.56 billion) from January to June this year, according to the data.

Throughout the period, travel service exports grew at the fastest rate among the top five service export categories, rising by 31.1% to 229.2 billion yuan.

Knowledge-intensive services trade rose by 6.7% year on year to 1.66 trillion yuan during the same period, accounting for 44% of all service trade. Notably, exports of personal cultural and entertainment services and charges for the use of intellectual property surged by 57.2% and 44.3% respectively.

Tuesday's data also showed that imports of transport services totaled 498.1 billion yuan during the period, up 30.4%, the fastest growth rate among the top five service import categories.

The last week of July delivered a stark reminder of how fragile the artificial intelligence boom has become — at least on trading floors. South Korea's benchmark Kospi index plunged 10.84% on Tuesday in its steepest sell-off in years, triggering a circuit breaker as investors dumped chipmaking shares over doubts about massive AI infrastructure spending. A day later, the Dow Jones Industrial Average posted its worst session of the year after a divided US Federal Reserve held rates steady, with semiconductor stocks leading the retreat. Meta's shares slid around 10% after earnings, and even Federal Reserve Chairman Kevin Warsh acknowledged that AI-related data center investment is boosting demand and fueling inflation that has stayed above target for more than five years.

The panic is real. But it is worth asking what, exactly, the market is panicking about. The technology itself has not failed. What has failed — or at least come due for scrutiny — is a business model in which a handful of companies spend hundreds of billions of dollars building closed systems, valued on promises of returns that remain largely hypothetical. The sell-off is a valuation problem, not a technology problem. And conflating the two risks drawing the wrong conclusions.

The market's jitters, in fact, echo a set of far bigger questions about where this technology is taking humanity. At the opening ceremony of the 2026 World AI Conference and High-Level Meeting on Global AI Governance on July 17, China put forward several key questions — How to get along with thinking machines? How to ensure security when algorithm is part of decision making? How to tackle ethical challenges by technologies through adaptive governance? How to realize AI for all when the divide keeps widening? These questions, it emphasized, demand serious consideration and real answers from the whole international community.

A different answer was taking shape on the other side of the Pacific that same week. On July 30, the Political Bureau of the CPC Central Committee met in Beijing to set economic priorities for the second half of the year, pledging to further implement the "AI Plus" initiative and develop new forms of an intelligent economy. The emphasis is telling: not AI as a speculative asset class, but AI as a general-purpose technology to be diffused through manufacturing, healthcare, logistics and public services.

The results of that approach are already visible in data rather than slide decks. A report by recruitment platform Zhaopin shows the number of Chinese companies hiring in the AI industry rose 24.8% year on year in the first half of 2026, with demand for AI agent developers soaring 244%. Industrial robots — the physical embodiment of applied AI — were exported to 141 countries and regions, up 18.6%. New growth drivers contributed over 40% of China's economic expansion in the first half. These are not valuations; they are jobs, shipments and output.

Equally significant is the question of openness. When the White House floated banning Chinese open-weight AI models over so-called distillation claims, the loudest pushback came not from Beijing but from Silicon Valley itself. Dozens of major American tech companies — including Microsoft, Meta, Nvidia and Google — signed a joint letter warning that broad restrictions on open-weight models would damage US innovation. Nvidia CEO Jensen Huang, in his first-ever post on X, wrote that "the world needs both frontier closed models and frontier open models." As one signatory put it, banning Chinese open models would amount to banning open models in general.

Washington's own industry, in other words, understands what its politicians do not: AI leadership is not measured by one frontier model locked behind an API, but by whether a strong, open ecosystem diffuses into every sector of the economy. China's Commerce Ministry put it plainly — innovation requires openness and does not belong to any one country.

None of this is to say China's path is without challenges. The July sell-off in Seoul and New York is a warning to every economy betting on AI: expectations detached from productivity eventually correct. But a correction in frothy valuations should not be confused with a verdict on the technology. The countries that emerge stronger from this moment of doubt will be those that treat AI less as a casino chip and more as electricity — something woven into the fabric of the real economy.

Markets will keep swinging between euphoria and panic. The more durable story is quieter: engineers being hired, robots being shipped, factories being upgraded. That is where the future of AI is actually being decided.

Editor's note: Zhang Jing is the editor-in-chief at the Maclmlen Studio. This article reflects the author's opinions and not necessarily those of CGTN. It has been translated from Chinese and edited for brevity and clarity.

From electric vehicles to artificial intelligence, Chinese companies representing the country's "new three" and emerging new "new three" industries are accelerating their expansion into the Canadian market. As China and Canada deepen their new strategic partnership, a growing number of Chinese technology firms are launching local operations, unveiling new products, and strengthening brand promotion across Canada, creating fresh momentum for bilateral economic and trade cooperation.

From the "old three" to the new "new three": China's three stages of industrial upgrading

China's export sector is undergoing a profound structural transformation, reflecting three distinct phases of industrial upgrading. During the era of the "old three"—clothing, furniture and home appliances—Chinese manufacturers leveraged cost advantages and economies of scale to establish "Made in China" as a global brand. While this phase laid the foundation for China's manufacturing strength, exports were largely concentrated on products with relatively lower value-added and technological content.

The emergence of the "new three"—electric vehicles, lithium-ion batteries and photovoltaic products—marked the next stage of China's export transformation. Driven by green manufacturing and clean energy innovation, China has built integrated industrial supply chains and gained a strong competitive edge in the global new energy sector.

Today, China is entering the era of the new "new three"—robotics, artificial intelligence and innovative pharmaceuticals. This new phase represents a deeper transition from "Made in China" to "Created in China," with research and development, technological innovation and advanced solutions becoming the primary engines of growth.

The latest data underscore this shift. Chinese large language models have ranked first globally in weekly usage for several consecutive weeks. China's industrial robots are now exported to more than 100 countries and regions worldwide, while exports of surgical robots have recorded explosive growth. In the pharmaceutical sector, the value of overseas licensing deals for China's innovative drugs exceeded $100 billion in the first half of 2026. 

Skylar Han, regional director of SpeedyDrone Canada for the Greater Toronto Area, said the company is not simply bringing drones, robots and AI systems to Canada as products, but integrating them into real-world applications.

"AI processes data, drones collect information, and robots carry out actions. When these technologies work together in areas such as agriculture, inspection, education, emergency response and industrial services, they create a completely new way of working," Han said.

He added that the future is not just about exporting products, but about combining the strengths of both countries to create greater value for communities and society.

China's "new three" in Canada: Chinese EV brands step up market expansion

Among China's "new three" industries, electric vehicles have become the most active sector for Chinese companies expanding into Canada. Following the implementation of the China-Canada economic and trade cooperation roadmap and the establishment of Canada's import quota mechanism for Chinese electric vehicles, a number of Chinese automakers have accelerated their market entry plans.

Lotus has taken the lead. On July 8, the Geely-owned automaker delivered its first shipment of electric vehicles to Canada, becoming the first Chinese-controlled EV brand to officially enter the Canadian market. Lotus is selling the vehicles through its existing network of authorized Canadian dealerships, making it the first Chinese EV brand to establish commercial operations in the country.

BYD is following closely behind. In June, Stella Li, executive vice president of BYD and president of BYD Americas, announced on social media that the company plans to officially move into Canada by the end of 2026. According to the plan, BYD will initially establish more than 20 dealerships across major cities including Toronto, Vancouver, Montreal and Calgary, while simultaneously building a comprehensive sales, after-sales service and maintenance network.

Other Chinese brands are also preparing their entry. Chery has already held its first meeting with Canadian dealership partners and plans to launch dealer networks for its Omoda and Jaecoo brands in early 2027. Meanwhile, Zeekr is expected to leverage Volvo's existing dealership network for distribution and is targeting a Canadian market debut by mid-2027.

The growing presence of Chinese EV manufacturers in Canada reflects both the country's expanding demand for new energy vehicles and its strategic importance as a gateway to the broader North American market.

China's new "new three" gain traction in Canada: AI hardware leads the way

Among China's emerging new "new three" industries, artificial intelligence-related products are among the first to gain a foothold in the Canadian market.

Rokid launches in Toronto, pioneering a new "AI + Optics" model

On July 29, Rokid, a global pioneer in augmented reality (AR) and AI-powered smart glasses, officially announced its entry into the Canadian market at a product launch event in Toronto. The company unveiled two flagship products and announced a strategic partnership with local optical retailer Ming's Optical to explore an innovative "AI + traditional optics" business model.

Earlier, Aiplora Inc. secured the exclusive distribution rights for Rokid's smart glasses in Canada. The partnership is widely seen as an example of technology collaboration between China and Canada. Rokid brings advanced expertise and technological leadership in the smart glasses sector, while Aiplora contributes an extensive local business network and strong market development capabilities. Together, the two companies aim to accelerate the adoption of AI-powered wearable devices in the Canadian market.

Chinese AI computing companies expanding North American footprint

Chinese AI computing and chip companies, including Turing Evolution, have identified Canada as a key hub in their global expansion strategies. As artificial intelligence moves from cloud-based applications to edge devices and from research laboratories to real-world industrial deployment, these companies are building end-to-end AI chip capabilities and edge computing infrastructure to support growing demand for AI computing power in Canada.

Canada is home to some of the world's leading AI research institutions, including the Vector Institute in Toronto and Mila – Quebec Artificial Intelligence Institute in Montreal, which provide a rich pool of AI talent and make the country an attractive destination for technology collaboration and talent exchange with Chinese AI companies. In addition, generous research and development incentives offered by the Province of Quebec have encouraged a growing number of Chinese technology firms to establish local R&D centers.

Brandon Paul, senior corporate marketing manager at Bluewave AI, said Canada and China have opportunities to deepen cooperation in AI and other areas of shared interest, as both countries have been advancing innovation over the past decade.

"As AI has become not just a conversation, but the conversation, it's incredible to see our governments pursuing these very important trade deals that I think will position Canada and China to prosper together on the world stage," Paul said.

He added that the cooperation is a "win-win" for both countries.

As Chinese companies in the "new three" and new "new three" industries continue to deepen their presence in Canada, bilateral economic and trade cooperation is evolving beyond traditional commerce. The relationship is expanding from conventional commodity trade to exports of high-value technology products, with greater potential for future collaboration in innovation, research and industrial ecosystem development.

For Chinese companies, Canada is not only an important export market but also a strategic gateway to North America and a hub for accessing world-class research resources and innovation ecosystems. For Canada, the arrival of Chinese companies brings competitive products and advanced technologies while also creating employment opportunities and contributing to local industrial upgrading.

As China and Canada continue to strengthen their new strategic partnership and expand cooperation in science, technology and innovation, more Chinese companies from the "new three" and new "new three" sectors are expected to establish operations, build their brands and pursue mutually beneficial growth in the Canadian market.

A coalition of 25 states filed a lawsuit against the Trump administration on Monday, arguing that US President Donald Trump exceeded his legal authority by imposing sweeping new tariffs on goods from 60 trading partners, according to a court document.

The complaint, filed in the US Court of International Trade, challenges the recently enacted levies of 10% or 12.5% on the vast majority of goods imported from the affected economies. According to the states, these economies collectively account for 99.4% of US imports.

The coalition is asking the court to block the tariffs, declare them unlawful, and order refunds for the duties already paid.

The legal challenge centers on the administration's effort to preserve Trump's broad tariff regime after federal courts rejected two earlier versions imposed under different statutory frameworks. The states argue that federal officials seized upon Section 301 of the Trade Act of 1974 and forced-labor concerns merely as a pretext to rapidly recreate nearly identical global duties that the Supreme Court previously struck down in February.

"President Trump's illegal tariffs are nothing more than a tax on hardworking families, driving up the cost of groceries, household essentials, building materials, and countless everyday goods that New Yorkers rely on," said New York Governor Kathy Hochul in a statement.

Oregon Attorney General Dan Rayfield echoed the sentiment, highlighting the economic impact on local communities. "Today, we're filing our third lawsuit against Trump's illegal tariffs," Rayfield wrote on X. "Once again, the president is raising costs on everyday goods for Oregon families and small businesses, and once again, we're leading a multistate coalition stepping up to stop him."

"After losing at the Supreme Court, the administration is once again trying to illegally raise taxes on families and businesses with a new round of tariffs," New York Attorney General Letitia James said.

The White House rejected the coalition's arguments, asserting that Section 301 tariffs have proven to be a "legally durable tool" since the president's first term and remain so under the current administration.

Joining New York in the lawsuit announced Monday are Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Kentucky, Massachusetts, Maryland, Maine, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, Rhode Island, Virginia, Vermont, Washington and Wisconsin.

Monday's lawsuit marks at least the second major legal challenge to the new duties. A group of small businesses previously sued the administration, advancing a similar argument that Trump cannot leverage new legal authority to circumvent the Supreme Court's prior invalidation of his overarching tariff agenda.