Economic Watch: China's regional powerhouses turbocharge high-quality development

 

BEIJING, 11 April 2025 (Xinhua) -- Having long propelled China's economic ascent, major provincial-level regions are now leading the charge in the country's transformative shift toward high-quality development.

China's top 10 provincial economic heavyweights, including Guangdong, Jiangsu, Shandong, Zhejiang and Sichuan, accounted for over 60 percent of the country's GDP, despite covering less than 20 percent of its land area.

Their development is redefining China's economic landscape and providing insights into how the world's second-largest economy navigates domestic and global challenges in the final year of the 14th Five-Year Plan (2021-2025) to lay a strong foundation for the next five years and beyond.

INNOVATION AS THE NEW DRIVING FORCE

From artificial intelligence (AI), robotics and brain-computer interfaces to innovative drugs, China's economic powerhouses are doubling down on sci-tech innovation, yielding significant results in high-tech sectors.

A prime example is east China's Zhejiang Province, where the capital city, Hangzhou, has emerged as the country's hottest new tech hub. It has successfully nurtured a wave of cutting-edge companies known as the "Six Little Dragons," including the globally trending startups DeepSeek and Unitree Robotics.

 
A person uses DeepSeek app on a mobile phone on Feb. 17, 2025. (Xinhua/Huang Zongzhi)

Hangzhou's rise into an emerging tech hub is no coincidence. Experts and analysts attributed its success to years of groundwork, driven by the city's deep talent pool, a robust industrial ecosystem, strong policy support, a business-friendly environment, and visionary economic governance.

In Zhejiang's 2025 government work report, the province vowed to further cultivate new quality productive forces this year, foster emerging industries, plan for future industries, and promote the deep integration of the digital economy with the real economy.

In the neighboring Jiangsu Province, a relentless focus on sci-tech innovation has cemented its position as a front-runner in the numbers of national key laboratories and engineering technology centers. Last year, Jiangsu set a national record with 13 innovative drugs approved for sale.

Last year, the GDP growth of Zhejiang and Jiangsu reached 5.5 percent and 5.8 percent, respectively, both exceeding the national growth of 5 percent.

Leveraging their sci-tech resources, China's powerhouse provinces are well poised to drive innovation as a key engine of growth and accelerate the deployment of sci-tech advances in major industries, creating a ripple effect nationwide, said national political advisor Jin Li, vice president of Southern University of Science and Technology.

CLIMBING UP THE VALUE CHAIN

In just 53 seconds, a new energy vehicle (NEV) can roll off the fully automated assembly line at GAC Aion's factory in south China's Guangdong Province, where precise robotic arms twist and turn in seamless coordination.

Dubbed a "dark factory" due to its minimal reliance on human labor and lighting, the facility is also the NEV industry's sole "lighthouse factory" worldwide, highlighting its role in spearheading intelligent manufacturing.

The factory symbolizes Guangdong's broader industrial transformation. Once synonymous with low-end assembly lines, the province is now embracing advanced technologies and increasing investments to modernize traditional industries and move up the value chain.

At present, production of advanced manufacturing accounts for 56.7 percent of Guangdong's industrial output, while high-tech manufacturing takes up 31.6 percent of the total.

East China's Shandong Province, one of the country's major grain-producing areas, has empowered modern agriculture development with new technologies, such as drones and automated irrigation systems.

In its 2025 government work report, Shandong pledged to implement an action plan for high-quality industrial chain development, focusing on high-end, intelligent and green features this year, while also accelerating the development of intelligent agriculture.

Leveraging their strong industrial foundation, these powerhouses should further promote the upgrading of traditional industries, maintain leading roles in shaping new competitive advantages, and set an example for other regions, said Pan Jiaofeng, a national lawmaker and president of the Institutes of Science and Development at the Chinese Academy of Sciences.

GREATER INTEGRATION

For the economic powerhouses to maintain momentum, it is essential to foster a fair and efficient environment free from local protectionism, according to analysts.

Southwest China's Sichuan Province and Chongqing Municipality have recently completed an electricity-sharing mechanism as part of their latest effort to enhance market connectivity. In recent years, the two regions have aligned their market entry policies and jointly launched a cross-regional development zone.

"By addressing the bottlenecks in economic circulation and curbing unhealthy competition, the innovation potential of market players will be fully unleashed," said Yang Decai, a national political advisor and professor at Nanjing University.

Regional integration is gaining momentum nationwide. Shanghai is expanding cooperation within the Yangtze River Delta region. Guangdong is streamlining administrative services to improve connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area. Hubei is partnering with Jiangxi and other central Chinese provinces to build a globally competitive digital ecosystem.

"Different regions are at varying stages of development. By implementing regional strategies, we can further amplify comparative advantages, improve efficiency, and unlock greater growth potential," said Liu Baokui, a researcher at a think tank under the National Development and Reform Commission.

According to Bao Jiawei, an urban development researcher, it is about forging synergies, not working in isolation. 

US slapping of "reciprocal tariffs" deprives countries, especially Global South, of right to development: spokesperson

BEIJING, 7 April 2025 (Xinhua) -- The unilateral imposition of "reciprocal tariffs" by the United States effectively deprives countries, particularly those in the Global South, of their right to development, and is certain to face widespread opposition from the international community, a Chinese foreign ministry spokesperson said on Monday.

Recently, the United States has imposed tariffs on all its trading partners, affecting over 180 countries and regions worldwide, including some economies classified as the least developed countries by the United Nations. Analysts suggest that these high tariffs will deliver an unprecedented and severe impact on poor nations with simple economic structures and high dependency on exports.

 

In response to a related query, spokesperson Lin Jian said at a daily news briefing that the United States, under the guise of "reciprocity," acted in a manner that prioritizes its own interests at the expense of other nations' legitimate benefits. This approach places "America First" above international rules, exemplifying unilateralism, protectionism, and economic bullying.

Lin added that the Chinese government has issued its position on opposing U.S. abuse of tariffs, making clear its solemn attitude.

Data analysis from the World Trade Organization indicates that, amid economic disparities and unequal power dynamics, U.S. tariff policies will exacerbate the wealth gap among nations, with less developed countries facing particularly severe repercussions. This trend poses a significant threat to the efforts intended to achieve the United Nations 2030 Agenda for Sustainable Development, Lin said.

The United States' imposition of differentiated tax rates violates the World Trade Organization's principle of non-discrimination, severely undermining the normal international economic and trade order, as well as the security and stability of global industrial and supply chains, Lin said, adding that this action significantly damages the multilateral trading system, poses a severe threat to the global economic recovery process, and is bound to meet widespread opposition from the international community.

Openness and cooperation are a historical trend, and mutual benefit and win-win outcomes are the aspirations of people. Development is a universal right of all countries, not the privilege of a few, said Lin.

He emphasized that all countries should uphold the principle of extensive consultation, joint contribution and shared benefits, adhere to true multilateralism, jointly oppose all forms of unilateralism and protectionism, and uphold the international system with the United Nations at its core and the multilateral trading system with the World Trade Organization at its core. 

Vietnam, Burundi seek stronger friendship, cooperation

The Vietnamese and Burundi Presidents agreed to enhance high-level exchanges and strengthen political trust through various channels, as well as to effectively implement bilateral cooperation mechanisms, especially the political consultations between the two foreign ministries.

7 April 2025

Hanoi (VNA) – State President Luong Cuong held talks with visiting Burundian counterpart Evariste Ndayishimiye in Hanoi on April 4, during which the two leaders sought ways to further promote friendship and cooperation between the two countries.

Welcoming the first official visit by President Ndayishimiye, President Cuong highlighted the significance of the visit, which coincides with the celebrations of the 50th anniversary of the Vietnam-Burundi diplomatic relations (April 16, 1975-2025), the 50th anniversary of the Liberation of the South and National Reunification (April 30, 1975-2025), and the 80th anniversary of the National Day of Vietnam (September 2, 1945-2025).

Expressing his belief that this visit will usher in a new phase in the friendly and cooperative relations between the two countries, Cuong affirmed that Vietnam attaches importance to its relations with African nations, including Burundi, a long-time friend and supporter of Vietnam in both its fight for independence and its current nation-building efforts.

The Vietnamese State leader praised the achievements that Burundi has made in maintaining political stability, fostering national harmony, and promoting socio-economic development. He expressed confidence that under President Ndayishimiye's leadership, Burundi will successfully achieve its goals and make further contributions to peace, stability, and development in the region.

For his part, President Ndayishimiye expressed his admiration for Vietnam's struggle for independence and the significant achievements the country has made in socio-economic development, as well as in enhancing its international standing. He noted that despite the geographical distance, the two nations’ peoples remain united, sharing warm and friendly feelings and supporting each other.

Briefing his host on Burundi's socio-economic achievements and the country’s role and contributions at regional organisations, Ndayishimiye emphasised that the visit aimed to reaffirm Burundi's commitment to strengthening and developing its friendship and cooperation with Vietnam, particularly in investment, agriculture, mining, science and technology, and digital transformation, and suggested the two sides establish permanent diplomatic missions in each other’s country.

The two leaders agreed to enhance high-level exchanges and strengthen political trust through various channels, as well as to effectively implement bilateral cooperation mechanisms, especially the political consultations between the two foreign ministries.

The talks between State President Luong Cuong and his Burundian counterpart Evariste Ndayishimiye in Hanoi on April 4 (Photo: VNA)

They acknowledged the developments in economic cooperation, notably the success of the Lumitel telecommunications joint venture with the engagement of Vietnam’s Viettel Group, which has make contributions to economic development while benefiting both nations' citizens.

Both sides recognised the untapped potential for further increasing bilateral trade and agreed to promote information exchange about market need, industries, investment opportunities, and to facilitate business connections and cooperation. They concurred to diversify trade items, identify priority sectors, and make it easier for key exports of both nations to access each other's markets.

With a shared understanding of the vast potential for bilateral cooperation, the two leaders agreed to continue promoting collaboration in the areas matching their strengths and special interest, particularly agriculture; share development experiences; and actively negotiate to sign cooperation agreements to perfect the legal framework for facilitating cooperation activities.

The host took the occasion to thank the Burundian President for supporting and creating favourable conditions for the telecoms joint venture of Viettel, as well as for other Vietnamese businesses to operate and do business stably and sustainably in the African country.

At the talks, the two leaders also exchanged views on international and regional issues of mutual concern. The Vietnamese President appreciated contributions by Burundi, as well as President Evariste Ndayishimiye personally in his role as First Vice-Chairperson of the African Union (AU) in 2025 and as a coordinator of the AU's agenda on youth, peace, and security.

They agreed to enhance coordination, cooperation, and mutual support at international organisations, and multilateral and inter-regional forums, particularly the United Nations and the Non-Aligned Movement. The President of Burundi expressed his willingness to act as a bridge and support Vietnam in strengthening cooperation with the AU and establishing relations with the East African Community.

Regarding the East Sea issue, President Cuong proposed Burundi support ASEAN's stance on solving disputes by peaceful means on the basis of international law, particularly the 1982 UN Convention on the Law of the Sea (UNCLOS), as well as ASEAN's efforts to build the East Sea into a sea of peace, stability, cooperation, and sustainable development.

The Burundian President invited his Vietnamese counterpart to pay an official visit to the country in the near future. President Cuong accepted the invitation with pleasure.

After the talks, the two Presidents witnessed the signing of two cooperation documents: a framework agreement on cooperation between the two Governments and a memorandum of understanding on the establishment of the political and diplomatic consultation mechanism.

Hong Ting Forum held in Kenya to advance China-Africa modernization drive

NAIROBI, 3 April 2025  (Xinhua) -- The 2025 edition of the Hong Ting Forum took place on Wednesday in the Kenyan capital, Nairobi, bringing together senior government officials, diplomats, scholars, industry executives and media practitioners to explore ways to advance China-Africa cooperation on modernization.

Hosted by Xinhua News Agency Africa Regional Bureau, the forum was held under the theme "China-Africa Dialogue on the Path to Modernization."

Korir Sing'Oei, principal secretary in Kenya's Ministry of Foreign and Diaspora Affairs, said the forum reaffirmed the importance of fostering Sino-African dialogue to achieve mutually beneficial outcomes.

According to Sing'Oei, the China-Africa partnership is both desirable and beneficial, as it responds to the aspirations of both sides in a rapidly shifting geopolitical landscape.

Kenya fully supports China's Belt and Road Initiative, as well as its Global Development Initiative, Global Security Initiative and Global Civilization Initiative, which rally like-minded nations to address the evolving needs of humanity, he said.

"As Kenya advances modernization efforts, the government looks forward to learning from China's best practices. I believe other African countries will also be eager to do the same," Sing'Oei said.

Guo Haiyan, the Chinese ambassador to Kenya, said that both China and its African partners share aspirations to modernize their economies and achieve common prosperity, peace and stability.

The joint modernization of China and Africa has taken on new urgency, with their leaders agreeing on the need to accelerate renewal efforts that foster inclusivity, peace, security and harmony between humanity and nature, Guo said.

She also called for a stronger Sino-African partnership and greater consensus on safeguarding the interests of the Global South.

Peter Kagwanja, the chief executive officer of the Africa Policy Institute, a Nairobi-based Pan-African think tank, said that given their shared history and destiny, Africa and China should engage in mutual dialogue, exchange knowledge and share best practices to advance their modernization trajectories.

According to Kagwanja, the modernization drive of China and African countries should be homegrown and grounded in mutual respect to ensure a lasting impact on societies striving for sustained growth, inclusivity and stability.

"China and Africa have chosen the path of independent modernization and peaceful development, built on dialogue, as envisioned in the Global Civilization Initiative," Kagwanja said, noting that dialogue between China and Africa dates back to the Silk Road era, when ancient civilizations converged to exchange goods, services and ideas on culture, economics and governance.

Mustafa Ali, the co-founder and chairman of the Horn International Institute for Strategic Studies, a Nairobi-based think tank, said that China is already a trailblazer in modernization and can leverage its soft power to strengthen multilateralism amid rising geopolitical tensions.

Deputy President Mashatile appoints Ms Gadija Brown as Economic Special Advisor

3 April 2025

The Office of the Deputy President of the Republic South Africa, Mr Shipokosa Paulus Mashatile, is pleased to announce the appointment of former MEC for Finance in the Free State Province, Ms Gadija Brown as Special Economic Advisor to the Deputy President.  

A seasoned professional with rich experience in the commercial banking sector, Ms Brown brings a wealth of knowledge and expertise to her role as an Advisor in the Presidency, having served the Free Sate Provincial Government in various capacities; as a Member of the Provincial Executive Council for Finance, Head of the Departments of Agriculture and Rural Development, Public Works and Infrastructure as well as the Economic, Small Business Development, Tourism and Environmental Affairs department. 

Among her educational qualifications, Ms Brown holds a Bachelor's Degree in Management and Leadership,  majoring in Finance and Economics, from the University of Free State as well as various other Certificates in banking, project and risk management, ethics, contributing to her academic aptitude.

“The appointment of Ms Brown will surely enhance the work of the advisory team in the Office of the Deputy President, and her great deal of expertise in various fields, will significantly strengthen the delivery of tasks delegated to us, by President Ramaphosa”, said Deputy President Mashatile. 

The South Africa Presidency

Namibia and Russia Strengthen Bilateral Cooperation

Namibian Press Secretary Dr Alfredo Hengari highlights key areas of cooperation between the two countries (video: Namibian Presidency)

2 April 2025

Namibian President Netumbo Nandi-Ndaitwah received a courtesy visit from Yury Trutnev, Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District of the Russian Federation, to discuss key areas of strategic cooperation between Namibia and Russia.

The meeting focused on economic cooperation, energy security, and education, with an emphasis on resource beneficiation to ensure Namibia maximizes economic benefits from its raw materials. Addressing national priorities such as poverty reduction and youth unemployment, President Nandi-Ndaitwah underscored the importance of fostering bilateral relations that drive sustainable development through the Intergovernmental Commission.

Discussions also highlighted skills development and education, recognizing the growing number of Namibian students in Russia and the need to expand training in key sectors. Both leaders reaffirmed their commitment to strengthening bilateral ties, ensuring that economic cooperation builds on the long-standing historical relations between the two nations.

Namibian Presidency

WHO South Africa’s New Representative Presents Credentials to DIRCO

1 April 2025

Shenaaz El-Halabi officially presented her credentials as the World Health Organization (WHO) Representative to South Africa to Deputy Minister Alvin Botes of the Department of International Relations and Cooperation (DIRCO).

The ceremony, held at DIRCO headquarters in Pretoria, reaffirmed the strong and longstanding partnership between WHO and the Government of South Africa. During the engagement, both parties underscored the importance of strategic collaboration in addressing the country’s health challenges including the quadruple burden of disease (characterized by the simultaneous challenges of maternal, newborn, and child health issues, HIV/AIDS and tuberculosis, non-communicable diseases, and violence and injuries) advancing universal health coverage (UHC), and strengthening pandemic prevention, preparedness, and response (PPPR) systems. 

Deputy Minister Botes welcomed Ms. El-Halabi on behalf of the South African Government and commended WHO’s leadership in guiding global health efforts aligned with the Sustainable Development Goals (SDGs). He highlighted South Africa’s evolving priorities in areas such as school nutrition, social development, and the rising burden of obesity, and underlined the need for WHO’s continued support in leveraging research and technical expertise across these domains. 

"We look forward to deepening our cooperation across strategic platforms, including engagements with basic education and social development,” said Deputy Minister Botes. “Your role is key in aligning with our comprehensive national development frameworks, particularly as we tackle South Africa’s unique health profile.” He reaffirmed South Africa’s ongoing support for WHO’s mission and expressed optimism for strengthened collaboration during El-Halabi’s tenure. 

In her remarks, Shenaaz El-Halabi expressed sincere appreciation for the warm welcome, describing it as “an honour to serve in South Africa at such a pivotal time for global and national public health.” She acknowledged and commended South Africa’s leadership role on the global stage, particularly under its current G20 presidency and support in the WHO investment rounds and emphasized the country’s contributions to health innovation, vaccine manufacturing, and regional knowledge-sharing. 

“South Africa plays a pivotal role in advancing and leading public health innovation and response across the continent,” she noted. “We are committed to working closely with national stakeholders to strengthen primary health care systems, reduce the HIV and TB burden, and expand equitable access to care ensuring no one is left behind”, she said.

El-Halabi also commended the country’s investments in maternal and child health, communicable and non-communicable disease control, and health system reforms, such as the implementation of the National Health Insurance (NHI). She reaffirmed WHO’s technical and operational support in advancing national priorities, including the Close the Gap Campaign (with the objective of closing the treatment gap by putting an additional 1.1 million people who are living with HIV but are not on treatment by the end of December 2025) and the End TB Campaign (screening 5 million people). 

The meeting concluded with both parties agreeing to maintain open channels of communication and regular briefing, to ensure that technical cooperation remains strategic, evidence-based, and aligned with South Africa’s development goals and the broader 2030 Sustainable Development Agenda.

World Health Organisation, South Africa

Namibia Celebrates 35 years of Independence

by Kirtan Bhana - TDS

1 April 2025

The historic inauguration of Dr. Netumbo Nandi-Ndaitwah, the first female President of the Republic of Namibia is a clear indication of the societal and political progress that the country has made since its independence on 1 March 1990.

“As we celebrate this milestone, we also take a moment of solemn reflection. The past year has been one of profound loss for Namibia as we mourned the passing of a sitting President, H.E. Dr. Hage G Geingob in February 2024, and this year in February, we bade farewell to our Founding President and Father of the Namibian nation, H.E. Dr. Sam Shafiishuna Nujoma. Both these leaders played pivotal roles in shaping Namibia’s identity, economic development and international standing. As we continue to mourn their passing, we also celebrate their contributions and reaffirm our commitment to upholding the values they stood for," said High Commissioner Veiccoh K Nghiwete of Namibia at a commemoration of this milestone occasion in Pretoria, South Africa.

Namibia and South Africa share a complicated recent history that has intertwined their destinies. During the German Colonial Period, Namibia was known as German South West Africa from 1884 to 1915, after the defeat of Germany and its allies in World War 1. South Africa was mandated to administer what was now called South West Africa and imposed apartheid laws in that country. South Africa refused to rescind its mandate which was to end in 1966, which began the War of Independence which lasted until 1990. The battle of Cuito Cuanavale, which saw the defeat of the apartheid South African defence forces in 1988, was the catalyst that ushered in the independence of Namibia.

Focusing on the relations between the nations and the economic cooperation Nghiwete said “We also reflect on the strong and enduring relationship between Namibia and South Africa- a relationship built on a shared history, mutual respect and commitment to economic and social cooperation. Namibia and South Africa enjoy strong diplomatic and economic ties.  The Bi-national Commission (BNC), which is chaired by the two Presidents of our countries, remains a critical and main platform for strengthening cooperation across multiple sectors from political, diplomatic, legal, economic, education, health, defence and security.  The Agreements and Memoranda of Understanding signed under this framework continue to foster regional integration and economic growth. To this effect, 75 Agreements have been signed between our two Governments, covering wide range of sectors and signifying our shared bond of cooperation. These agreements not only enhance bilateral relations, but also create opportunities for businesses and investors to thrive in both Namibia and South Africa.”

As neighbours Namibia and South Africa have a significant trade relationship, with South Africa being the largest trading partner of Namibia, both in exports and imports. Namibia imports 63% of various products from South Africa and exports 37% of products to South Africa. Key export products to South Africa are; gold, bovine, animals on hoof, fish, pasta, charcoal, and malted beer. Namibian exports have increased over the last five years at a rate of 6.33%. 
 
Namibia is an investor friendly country with well-developed financial and banking sectors; high quality logistical infrastructure for regional and international land, air and sea connections; quality schools and tertiary institutions; stable telecommunications, electricity and water supply; and world class medical facilities and services.

The road and rail networks play pivotal roles in driving the economic activities between the two countries and the Region. The Trans Kalahari Corridor, from the deep seaport of Walvis Bay, through Botswana, links Namibia with the North West, Gauteng, Mpumalanga and KwaZulu-Natal provinces, have reduced the distance by 500 km, compared to the southern B1 highway that links Namibia with the Northern Cape, Western Cape, Eastern Cape and Free State provinces. The southern railway line has been rehabilitated to accommodate the mining minerals of manganese and coal from the North West and Northern Cape provinces to the southern Port of Lüderitz.  The Trans Caprivi Corridor connects the deep seaport of Walvis Bay with Zambia and the Democratic Republic of Congo (DRC).

South Africa’s Minister of Human Settlements, Thembisile Simelane-Nkadimeng, paid tribute to Namibia’s founding President, Sam Nujoma, for his leadership in securing the country’s independence and his support for South Africa’s liberation struggle

In a message of congratulations and solidarity, Simelane-Nkadimeng praised Namibia’s commitment to women’s leadership, calling it a source of motivation and inspiration for South Africa, the African continent, and the world. Her remarks were met with warm applause as she quoted a Sotho saying: “Ha basadi ba etella pele, naha e tlala lebese le dinotshi,” which translates to, “When women lead, the land flows with milk and honey.”

The Diplomatic Society Welcomes New Heads of Mission

TDS

31 March 2025

"South Africa’s commitment to human rights is central to its foreign policy, promoting solidarity and respect for other nations," said President Cyril Ramaphosa following the letters of credence ceremony for Heads of Mission at Sefako Makgatho Presidential Guesthouse in Pretoria on 27 March 2025.

“Our commitment to human rights defines our international foreign policy. We promote human rights solidarity as well as respect for other nations, and that's how we've decided to define our foreign policy,” he said. 

South Africa’s foreign policy aims to promote the prosperity of all nations, collaborating with them in a multilateral manner, and upholding the values that are significant to South Africans, Ramaphosa said. He said that some nations have drawn on South Africa's Truth and Reconciliation Commission processes as well its constitutional principles which influenced their processes and actions. 

“We’ve got human rights advocacy in South Africa as the soft power that we spread around the world. We do so with humility, without being arrogant, and without being disrespectful to others. This is what Ubuntu is all about, this is what defines us, and we are very proud of continuing to adhere to those values and those constitutional principles,” the President went on further to explain. 

At the ceremony, Ramaphosa received Letters of Credence from Heads of Mission from 14 countries, namely Gabon, Congo, Russia, Bangladesh, Canada, Egypt, Ethiopia, Türkiye, Japan, Mongolia, Portugal, Panama, Nepal, and Senegal. 

In presenting their credentials, the Heads of Mission noted their countries' long, historical relationship with South Africa and committed to strengthening this relationship on all levels. Many thanked South Africa for its principled stance on standing up for human rights violations on the globe and its interventions in seeking solutions for current conflicts. Many were excited to explore the art, culture, traditions and hospitality South Africa and the region has to offer, vowing to enhance the people-to-people and face-to-face interactions that is the hallmark of diplomacy. As the rich abundance of the African continent and its potential are being realised, perceptions of Africa's leading role in a changing global paradigm is gathering momentum.

The Diplomatic Society, which has for almost three decades advocated a constructive and balanced narrative of international relations and cooperation, and its partners and associates welcome the new Heads of Mission and invite them to engage and interact with its many platforms and entities.

  Heads of Mission present Letters of Credence to South African President Cyril Ramaphosa

China remains an "ideal, secure and promising" destination for foreign investors: Xi

BEIJING, 31 March 2025 (Xinhua) -- China has been and will remain an ideal, secure, and promising destination for foreign investors, Chinese President Xi Jinping said while meeting with representatives of the international business community in Beijing on Friday.

Xi pointed out that the country, which is on a Chinese path to modernization in all respects, has been a major contributor to and anchor of stability for global growth for many years.

Committed to the fundamental national policy of opening up to the world, China is advancing high-standard opening up and taking solid steps to expand institutional opening up, such as that of rules, regulations, management, and standards, Xi said.

"China's door will only open wider. The policy of welcoming foreign investment has not changed and will not change," said the president.
Having the world's second largest consumer market and largest middle-income group, China offers great potential for investment and consumption, Xi noted.

With a commitment to high-quality development, China is accelerating green, digital and smart transformation, which, coupled with the country's sophisticated industrial ecosystem, provides the best testing ground for the latest outcomes of technological revolution and industrial upgrading, he said.

Xi said China has developed sound regulations, policies and procedures for foreign investment, promoted trade and investment liberalization and facilitation, and made active efforts to foster a first-class business environment that is market-oriented, law-based and internationalized.
China enjoys long-standing political and social stability, and is widely recognized as one of the safest countries in the world, he added.

Xi said all this shows that China offers a vast stage for business development, vast market prospects, stable policy outlook, and a secure environment, making it a favored choice for foreign investment and business operations.

"China has been and will remain an ideal, secure, and promising destination for foreign investors. Embracing China is embracing opportunities, believing in China is believing in a better tomorrow, and investing in China is investing in the future," he said. 
 

Chinese President Xi Jinping meets with representatives of the international business community at the Great Hall of the People in Beijing, capital of China, March 28, 2025. (Xinhua/Ding Lin)
 

Chinese President Xi Jinping meets with representatives of the international business community at the Great Hall of the People in Beijing, capital of China, March 28, 2025. (Xinhua/Huang Jingwen)