Chinese Foreign Minister Wang Yi on Tuesday had phone conversations with Egyptian and Jordan’s foreign ministers, exchanging views on the situation in the Middle East, according to Chinese Foreign Ministry. 

While talking with Badr Abdelatty, Egypt's Minister of Foreign Affairs, Emigration and Egyptian Expatriates, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that the assassination of Hamas Politburo Chief Ismail Haniyeh in Tehran has pushed the regional situation into a more dangerous area.

China resolutely opposes and strongly condemns such assassination acts that violate the basic principles of the UN Charter, infringe on Iran's sovereignty and dignity, severely undermine efforts to promote peace, and make a ceasefire in Gaza increasingly unattainable, Wang said.

Wang pointed out that retaliatory action leads to a vicious cycle, and violence begets more violence, exacerbating conflict. There should be no double standards when it comes to the Gaza conflict. 

China's position on the Palestinian issue is consistent and clear. In response to the Gaza conflict, China has proposed a three-step initiative - achieving a comprehensive ceasefire; advancing Gaza's post-war governance under the principle of Palestinians governing Palestine; and effectively implementing a two-state solution, according to Wang.

Wang noted that China will strengthen solidarity with Arab countries, and work with all parties to avoid further escalation and deterioration of the situation.

Abdelatty expressed Egypt's deep concern over the escalating situation in Gaza and said that the assassination of Haniyeh has made reaching a ceasefire agreement more difficult and could potentially lead to a full-scale regional war.

The region cannot endure more conflict and turmoil. The international community should work together to prevent the situation from escalating, said Abdelatty.

Abdelatty also noted that Egypt highly appreciates China's important role in promoting peace in the Middle East, and is grateful for China's efforts in promoting internal reconciliation in Palestine. The Egyptian side hopes to maintain close cooperation with China to prevent further escalation of the situation.

Also on Tuesday, Wang held a phone call with Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi at the latter’s request.

Safadi said that the assassination of Hamas leader Ismail Haniyeh has further escalated tensions in the Middle East and the situation is very dangerous. Jordan believes that the escalation of the conflict will not benefit any side, but only result in widespread suffering and loss.

Safadi said that the international community should take immediate action to avoid the escalation of the conflict, stop violations of international law, achieve a ceasefire in Gaza as soon as possible, and ultimately achieve the independence of Palestine as a sovereign state through the two-state solution.

China has always maintained an objective and fair position on the Palestinian-Israeli conflict issue. Jordan is willing to maintain communication with China and expects and believes that China will play a more important role in promoting a ceasefire and stopping the war, Safadi said.

Wang said that China firmly opposes and strongly condemns the assassination, which has violated the basic norms of international relations, infringed on Iran's sovereignty, undermined the ceasefire negotiation process in Gaza, and led to further escalation of the regional situation.

Wang said that the key to avoiding the deterioration and escalation of the situation is to achieve a full and permanent ceasefire in Gaza as soon as possible and the international community should make a more consistent voice on this issue and form a joint force.

Wang spoke highly of Jordan's important role in resolving the Palestinian-Israeli conflict and achieving peace in the Middle East, and said that China is willing to maintain communication and coordination with Jordan to jointly bring relevant parties together to proceed from the overall peace situation, refrain from taking actions that escalate the situation, and resume ceasefire negotiations as soon as possible.

China will continue to stand firm with Arab countries, support all efforts that are conducive to achieving a permanent and full ceasefire in Gaza, avoid further escalation of conflicts and confrontations, and promote the easing of the situation in the Middle East as soon as possible, Wang said.

Chinese regulatory authorities have recently introduced a series of policy documents and reform measures to improve the capital market regulatory system, comprehensively deepen capital market reform, and promote high-quality market development. These measures, when implemented together, are expected to increase the investment value of the market and boost confidence among investors.

The recently released Resolution of the Central Committee of the Communist Party of China (CPC) on Further Deepening Reform Comprehensively to Advance Chinese Modernization, which was adopted at the third plenary session of the 20th CPC Central Committee, has committed to improve the efficiency of financial services to serve the real economy. On April 12, the State Council released sweeping guidelines to strengthen regulation, forestall risks and promote the high-quality development of the stock market. Widely known as the State Council Nine-Point Guideline, the document, only the third of its kind, mapped out plans to boost capital markets through 2035. 

In order to thoroughly implement the guiding principles of the Central Financial Work Conference and the new State Council Nine-Point Guideline, promote the formation and implementation of the "1+N" policy system in the capital market, effectively protect the legitimate rights and interests of investors, the China Securities Regulatory Commission (CSRC) and relevant departments have formulated and successively issued relevant supporting policy documents and institutional rules.
In March 2024, the CSRC released several new policy documents which emphasized the importance of strict control over IPOs. The goal is to uphold the principles of openness and fairness in the capital market and safeguard the legitimate rights and interests of investors. These regulatory requirements aim to enhance the level of standardized operation among listed companies, with a particular emphasis on tightening controls over the IPO admission process.

China introduced new regulatory measures in March and May to regulate the continuous supervision of listed companies. These measures cover aspects such as information disclosure, reduction of holdings, dividends, and market value management. In April, China's securities regulator also released a guideline on strict implementation of delisting regulation.

To promote the high-quality development of securities fund institutions, in the first half of 2024, the CSRC issued management regulations, reduced the commission rate for fund stock trading, further optimized the fund securities trading commission system, and reduced trading costs for fund investors.

Aiming to better serve technological innovation and promote the development of new quality productive forces, the CSRC has continuously introduced measures this year to support all aspects of the market, including listing financing, mergers and acquisitions, bond issuance, and private equity investment. 

Requirements for research and development investment, number of invention patents, and compound growth rate of operating income for companies planning to list on the science and technology innovation board have all been moderately increased, while the positioning of the board as focusing on core technology has been strengthened. Further reforms have been deepened to enhance inclusiveness toward new industries, new formats, and new technologies.

The new State Council Nine-Point Guideline governing capital markets and supporting institutional rules, starting from the perspective of improving the capital market ecosystem, is conducive to the construction of a long-term healthy development of the capital market, thereby boosting the long-term performance of the capital market. 

The stock market will ultimately benefit from the reform and unleash new vitality. Additionally, the market will better balance investment functions and financing functions, and better protect the interests of investors.

Bringing trouble. Illustration: Liu Rui/GT

An intelligent over 10,000-ton heavy-haul train, led by two 12-axle locomotives, traveled from Northwest China's Shaanxi Province to North China's Hebei Province on Saturday, marking the first large-scale application of intelligent driving technology on China's heavy-haul raillines.  

Two 12-axle locomotives led a 10,000-ton, 1,400-meter-long smart freight train with 108 carriages along the Shenmu-Shuozhou Railway from Shaanxi to Hebei. This signifies the large-scale implementation of intelligent driving technology for the Baoshen Railway Group's freight locomotives.

To achieve the large-scale application of the intelligent driving technology, Baoshen Railway Group in collaboration with other institutes, has overcome the challenges related to geography, routes, climate, and long gradients, setting multiple national firsts.

The technology now covers electric locomotives from 8-axle to 24-axle models, marking the first time all configurations are available. Previously, pulling a 10,000-ton train required three 8-axle locomotives and six crew members. With intelligent driving technology, only two 12-axle locomotives and two crew members are required now, or just one 24-axle locomotive with a single crew member, greatly improving efficiency and reducing pressue of the railway labor force.

More axles mean greater capacity and stronger traction, allowing fewer locomotives to haul more cargo, helping boost efficiency and reducing labor intensity, experts said.

"The implementation of intelligent driving technology has improved control precision and less labor-intensive," said a representative from a branch of Baoshen Railway Group, as quoted in a CCTV report on Saturday.

The technology first includes rain and snow specific mode which integrates weather information into the train's operating system, allowing intelligent driving control and stable operation in adverse weather conditions.

Additionally, automatic switching with BeiDou Navigation Satellite System's high-precision positioning and obstacle detection, long-distance autonomous obstacle detection and inspection on mainline sections, and panoramic monitoring with remote driving capabilities are all being applied for the first time for the heavy-haul railway system.

"China's railway development follows a dual approach for passenger and freight transport. While passenger transport technology leads globally, freight transport has lagged but is now catching up," Sun Zhang, a railway expert at Shanghai Tongji University, told the Global Times on Sunday.

"Our focus on intelligent heavy-haul transport aims to boost load capacity, improve service quality like shock absorption, and ensure safety. Enhancing freight efficiency helps us catch up with developed countries and supports the national dual carbon strategy, " said Sun.

The Shenmu-Shuozhou Railway, operated by the Baoshen Railway Group, is a national Class-I double track electrified heavy-haul railway crossing the country's plateaus.  It is a crucial coal transport route from western to eastern China, travsering challenging conditions including a minimum turning radius of 400 meters and a maximum slope of 12 permil, placing a high technological burden on the rail operator.

From 2019 to 2023, the number of intelligent heavy-haul trains has reached 30, safely operating a total of 2.08 million kilometers and completing 9,508 trips, carrying 41.07 million tons of coal, according to a Xinhua report on Saturday.

The intelligent heavy-haul driving system have received SIL2 international safety certification, reflecting China's capacity in mastering core technologies in high-end manufacturing, while further enhnacing the competitiveness of China's railway transport, according to Xinhua.

China firmly opposes and strongly condemns the assassination of Hamas political leader Ismail Haniyeh that took place on Wednesday in Iran's capital Tehran. This act was a blatant attempt to sabotage peace efforts and wantonly trampled on the fundamental UN Charter principle of respect for sovereignty and territorial integrity of all states, Fu Cong, China's permanent representative to the United Nations said on Wednesday.

Speaking at a UN Security Council Briefing on the Situation in the Middle East, Fu stated that China is deeply worried about an exacerbation of the upheaval in the region that this incident may trigger.

Haniyeh, was targeted and killed in an Israeli strike early Wednesday while visiting Iran, according to a statement released by Hamas on the same day.

The Palestinian Islamist militant group and Iran's Revolutionary Guards confirmed Haniyeh's death. The Guards said it took place hours after he attended a swearing-in ceremony for Iran's new president.

Israeli Prime Minister Benjamin Netanyahu's government made no claim of responsibility and said it would make no comment on the assassination.

The Gaza conflict has been going on for nearly 300 days, resulting in nearly 40,000 deaths and an unprecedented humanitarian catastrophe, said Fu.

He noted that over two months ago, the Council adopted Resolution 2735. As of now, however, ceasefire negotiations have yet to yield any progress, while the spillover effects of this conflict are increasingly visible, with the tensions between Lebanon and Israel, between Syria and Israel, and in the Red Sea sounding the alarm frequently. The Middle East situation is hanging by a thread, much to the concern of the international community.

Given the severity of the situation, the parties concerned must heed the international calls for a ceasefire and cessation of conflict. They must implement Council resolutions fully, actively coordinate with and support international effort in mediating peace, and take tangible actions to push for de-escalation and the restoration of peace and tranquility in the region, Fu noted.

They must not act single-mindedly and repeatedly take provocative or risky actions to stoke escalations. We strongly object to and condemn the recent irresponsible acts, including Israel's attack on Southern Beirut, said Fu.

China reiterates that military means and abuse of force offer no solution and will only lead to a bigger crisis. The continued deterioration of the Middle East situation is directly attributable to the continuous failure to implement a ceasefire in Gaza.

We urge all parties to comply with the overwhelming international consensus and work jointly for an immediate ceasefire to save lives, mitigate the impact of the havoc, and contain any spillovers. We urge Israel to implement Council resolutions in full, immediately halt all its military operations in Gaza, and immediately stop its collective punishment of the people in Gaza, said Fu.

Countries with major influence must put more pressure and work vigorously with the parties concerned and make tangible good-faith efforts to extinguish the flames of war in Gaza, said the representative.

Hamas politburo chief Ismail Haniyeh killed in Tehran: reports

President of the Democratic Republic of Timor-Leste Jose Ramos-Horta arrived in Beijing on Sunday for a state visit to China that will last till Wednesday, his first visit since he took office in 2022 and the first state visit to China by a Timor-Leste president since the two countries established diplomatic relations in 2002. 

The visit not only carries great significance in further elevating bilateral ties and expanding cooperation to include areas such as digital infrastructure, but also serves as "a rebuttal" against a Western smear campaign of so-called China-threat in the Asia-Pacific region, Chinese observers commented on Sunday. 

Mao Ning, foreign ministry spokesperson, at a news briefing on Friday, said that China was the first country to recognize Timor-Leste's independence and establish diplomatic relations with it. Over the past 22 years, the bilateral relationship has continued to develop steadily.

Chinese President Xi Jinping is expected to host a welcome ceremony and a banquet for Ramos-Horta, and the two presidents will hold talks, Mao said.

Premier Li Qiang and Zhao Leji, chairman of the National People's Congress Standing Committee, will meet with Ramos-Horta respectively, she said.

Born in December 1949, Ramos-Horta previously served as Timor-Leste's prime minister from 2006 to 2007, and president from 2007 to 2012. He was re-elected president in 2022, according to the Xinhua News Agency.

The visit of President Ramos-Horta - a seasoned politician - carries great significance and shows the leader's firm commitment to developing ties with China, Chen Hong, executive director of the Asia Pacific Studies Center at East China Normal University, told the Global Times on Sunday.

Timor-Leste always pursues diplomatic and strategic autonomy and it consistently upholds its national interests in handling relations with Western countries, and it has always maintained its strategic clarity and resilience. The China visit is no doubt a slap in the face against the West's hyping of the so-called China threat, he noted.

Last September, President Xi and Prime Minister Xanana Gusmao of Timor-Leste jointly announced the elevation of bilateral relations to a comprehensive strategic partnership, opening up a new chapter of bilateral relations, the spokesperson said. 

The visit will be an opportunity for the two countries to further their traditional friendship, deepen mutually beneficial cooperation and promote the development of their comprehensive strategic partnership, Mao said on Friday.

The Timor-Leste president has expressly dismissed talk of China as being "a menace," saying it was "unjustified and unfair" during a speech to the UN general assembly in 2023, before the upgrade of ties, according to the Guardian.

"Global China has fueled trade, economic growth and prosperity in the region," he said.

Chinese observers said that the two sides could ink new cooperation agreements during the visit. The area of the digital economy, especially China's aid to help improve local internet infrastructure is likely to be included in the new cooperation agreements, they said. 

China's sharing of clean energy technology is also of great value for the country to cope with global climate challenges, observers said. 

Besides traditional trade in the domains of agricultural products, fishery and natural resources between the two sides, the public health sector has become a new front for bilateral cooperation, the fruits of which have already significantly benefited the local people in Timor-Leste.

GX Foundation, a Hong Kong-based Chinese medical humanitarian organization, recently announced plans to donate approximately 17,000 dengue fever rapid test kits to hospitals across Timor-Leste. This donation aims to enable early detection and treatment of dengue fever at local levels, reducing the burden on central facilities in Dili, the capital city of the country, according to the presidential office of Timor-Leste.

The cooperation between China and Timor-Leste is proven to be genuine and based on the principles of equality and mutual benefit, benefiting the local people rather than being tied to geopolitics as the West often demonizes. The government and people of Timor-Leste are confident in the development of their relationship with China, and the Western smear campaign has undoubtedly failed, Chen said. 

Editor's Note:

The recently released communique from the Third Plenary Session of the 20th Communist Party of China (CPC) Central Committee laid out an unequivocal commitment to comprehensively deepening reform to advance Chinese modernization. As China prepares to implement further reforms aimed at promoting high-quality economic development, the global community is scrutinizing every aspect of the Chinese economy. Veteran property industry insider Yuan Yihong shared his observations on the evolvement of China's real estate sector, which is currently undergoing adjustments.

In recent years, China's real estate market has undergone adjustments, leading to increased attention on the problems and risks that have emerged following the market correction. 

However, the positive contributions of the real estate industry to the society's overall investment and the broad economy have often been downgraded. While it is crucial to address and mitigate risks hidden in the real estate sector, it is equally important to acknowledge and assess its role and contributions, objectively.

China's economy grew by 5 percent year-on-year in the first half of 2024, according to data provided by the National Bureau of Statistics (NBS) on July 15. This is a significant achievement for the country's post-pandemic economic recovery.

The real estate sector supply chain involves dozens of upstream and downstream industries. The real estate industry's driving force for ramping up investment, social consumption and economic growth is substantial, and the sector's contributions to the fiscal revenue cannot be ignored.

NBS data showed that, in the first six months this year, the proportion of real estate investment in fixed asset investment exceeded 21 percent. The sales revenue of newly built commercial apartments accounted for 20 percent of the country's total retail sales in the first half year.

Since the investment amount of a single industry accounts for more than 20 percent of the total fixed asset investment, it is undeniable that real estate is a pivotal industry for the macro economy.

In 2022 and 2023, the real estate market has experienced some corrections. However, the property taxes and land sale revenues still accounted for a large chunk of the country's overall budget revenues till today. The real estate-related loans also account for a big proportion of all bank loans in China's financial institutions.

Nevertheless, some people claim that the real estate industry is now "dragging down" China's economic growth. This perception stems from the fact that there have been overly high expectations placed on the real estate sector. 

For the past two decades, real estate has been a major driver of the country's economic growth, accelerating various industries and service sectors. 

It should be a prevailing belief that real estate's role in the overall industry chain should continue to expand, and any slowdown of the sector will be detrimental to overall growth. Therefore, labeling the real estate as a sector "dragging down" the economy is misleading and inaccurate.

The fundamentals of China's real estate sector remain solid. For example, last year's sales of newly built commercial housing reached 11.66 trillion yuan in sales value. We cannot say that this sale does not support the growth of other related industries, such as household appliances, building materials, cement, and steel.

Of course, if the real estate sector had not undergone such an adjustment, the industry could have made a greater contribution to the economic growth. 

As to precise positioning and development trend of the country's real estate sector, the just-concluded Third Plenary Session of the 20th Communist Party of China (CPC) Central Committee has made an important commitment to fostering a new development model for the real estate sector which will support the diverse needs of urban and rural residents for better housing in the country.

In the context of continuous urbanization, the real estate sector still has great room for exploration and development. Its position as an important industry is irreplaceable, though the development model needs to be improved.

Illustration: Liu Rui/GT

The ongoing surge in travel to Africa has created more opportunities for African carriers, with tourist numbers from China boosting their performance. 

Since January until June this year, "more than 330,000 passengers have traveled on our passenger flights between Chinese mainland and the rest of the world. The number of passengers is approaching the normal number before the pandemic," Aman Wole Gurmu, country director of China for Ethiopian Airlines, told the Global Times.

The seat occupancy rate of the route has always been maintained at a high level, especially during the peak tourist season and busy business periods, Gurmu added.

As the capital of Ethiopia, Addis Ababa is an important transportation hub on the African continent. Departing from Addis Ababa, passengers can quickly connect to more than 60 African destinations.

Ethiopian Airlines opened a Shanghai-Addis Ababa passenger route 10 years ago, marking what was also the first direct route from Shanghai to the African continent.

In addition to the direct flight between Shanghai and Addis Ababa, Ethiopian Airlines has another three passenger destinations in Chinese mainland, including Beijing, Guangzhou and Chengdu. 

Currently, there are seven passenger flights a week from Beijing and Shanghai to Addis Ababa, 10 from Guangzhou and 4 from Chengdu.

The fastest growth in demand from Chinese travelers has been seen in segments connecting major Chinese cities like Beijing, Shanghai, Guangzhou and Shenzhen to key African cities. 

Market insiders said that the inbound tourism market to Africa has a broad development prospect driven by the increasing number of Chinese tourists, and the improving tourism infrastructure s in Africa.

So far, the number of international tourists traveling to Africa has recovered to 96 percent of pre pandemic levels, with the number of passengers transported approaching returning toward volume before COVID-19, according to Gurmu.

Summer has been another boost for African travel, with Africa becoming an increasingly popular destination due to its unique natural scenery and rich cultural heritage.

There were less than 2,000 people from Chinese mainland traveling to Africa last year. This year, our seat bookings have exceeded 4,000, according to Gurmu. 

Chinese travel agency Spring Tour told the Global Times on Thursday that Kenya in Africa is one of the most popular destinations in this summer's bookings because  tourists to this country can go visa-free this year.

Reservations during and after the summer are on the rise, and the number of group tours during the summer is expected to exceed that of the same period in 2023, according to the agency. 

In terms of carrier selection, the Spring Travel said its tour groups to Kenya partner with Ethiopian Airlines.

Gurmu said Ethiopian Airlines attaches great importance to the Chinese market and regards it as an important growth point for the future. The company is expected to continue to increase flight routes and frequencies to meet the rising demand. 

The decision to launch new flights or increase frequencies is mainly based on market demand and operational considerations, he said. 

Gurmu said Ethiopian Airlines has shown confidence in its growth potential in China, and the growth is expected to come from increased passenger traffic between China and Africa, as well as strategic partnerships and collaborations.

In another development, the Civil Aviation Administration of China said China's international air passenger transport market continues to recover, with flight numbers reaching roughly 80 percent of the level in 2019 for five consecutive months since February of this year. 

From July 1 to 7, Chinese and foreign airlines operated a total of 6,045 international passenger flights. Among them, the number of flights to seven countries including Egypt, Saudi Arabia, Uzbekistan, Hungary, Greece, Kenya and Portugal has more doubled than that of 2019.