US personal computer (PC) maker HP on Thursday became the latest foreign business that responded to allegations of planning to shift away from China, as some foreign media outlets hype rumors and claims to support their long-standing narrative of foreign businesses leaving the Chinese market.

China remains one of the most popular and stable destinations for global businesses amid a global economic downturn and rising protectionism, and the attractiveness of the Chinese market will improve further, as the country continues to open up its market and optimize the business environment, experts said.

On Wednesday, Japanese news outlet Nikkei, citing unidentified sources, reported that HP plans to shift more than half of its PC production away from China and was setting up a "backup" design hub in Singapore "in an attempt to reduce geopolitical risks."

The US PC maker swiftly refuted the alleged relocation and stressed its commitment to the Chinese market.

"We remain committed to China and our China operations, and the important role they play in our global supply chain. As part of our standard operating procedures, we regularly engage in scenario planning, exploring various options to ensure we are enhancing the agility and resiliency of our global supply chain to meet the evolving needs of our customers," HP China told the Global Times on Thursday.

Earlier on Thursday, HP told Chinese news outlet Jiemian News that China is an indispensable and key link in HP's global supply chain and it is unswervingly committed to its operations and development in China.

"In China, HP's PC manufacturing business still maintains a pivotal position, providing high-quality products and services to the global market," HP said, according to Jiemian News.

The US PC maker is only the latest foreign company in China that has been forced to refute allegations of leaving China made by some foreign media outlets. In March, South Korean chipmaker SK Hynix said that it was not scaling back its operations in China and had not changed its China strategy, after some foreign media reports suggested that the company planned to close its Shanghai base as it "aims to reduce risks associated with the US' policies toward China."

In January, SK Hynix denied foreign media reports suggesting that the company was selling its factory in Dalian, Northeast China's Liaoning Province.

Chinese experts said that it has become a tactic of some foreign media outlets to make baseless allegations of foreign businesses leaving China in order to support their claims that foreign businesses are "abandoning" China; however, despite the relentless smear campaign, China remains to be a very attractive market for global firms.

"Against the backdrop of the overall slowdown in world economic growth and sluggish global recovery, China maintains a very high level of foreign investment," He Weiwen, a senior fellow at the Center for China and Globalization, told the Global Times on Thursday, noting that China is among the top recipients of foreign investment despite a worldwide decline. "The Chinese market is still very attractive to foreign investment."

In the first half of 2024, foreign direct investment in China in actual use dropped 29.1 percent year-on-year to 498.91 billion yuan ($69.57 billion). However, the total amount has remained at a relatively high level over the past decade, and the decline was mainly due to a high base during the same period in 2023, an official of the Ministry of Commerce (MOFCOM) said last week, noting a 14.2 percent rise in the number of newly established foreign businesses in the country.

"Many multinational companies, including those from the US, Japan and Germany, have a large part of their supply chains in China. This also determines that foreign investment will not leave China on a large scale, and on the contrary, some new investment will come in," He said.

In the first half of 2024, foreign investment in certain sectors such as advanced technology increased significantly, with investment in medical equipment manufacturing jumping 87.5 percent year-on-year. Also notably, investment from Germany rose 18.1 percent and investment from Singapore increased 10.5 percent, according to the MOFCOM.

He said that while some foreign businesses might plan to adjust their strategies due to geopolitical risks and growing competition, it is inaccurate to claim that foreign businesses are leaving China on a large scale.

"From a global perspective, from the perspective of the entire industrial chain and supply chain, China's position is quite stable," He said, adding that China is also making efforts to further improve the environment for foreign businesses.

A communique of the Third Plenary Session of the 20th Central Committee of the Communist Party of China in July, which offered a clear window into China's reform agenda for years to come, stated that opening-up is a defining feature of Chinese modernization, and vowed to steadily expand institutional opening-up, deepen the structural reform of foreign trade, and further reform the management systems for inward and outward investment.

China's foreign trade in goods expanded by 6.2 percent year-on-year to reach 24.83 trillion yuan ($3.46 trillion) in the first seven months of this year, hitting a new record in trade volume, customs data showed on Wednesday, buoyed by the country's manufacturing strength, rising overseas demand, as well as the diversification of its trade partners overseas.

The brisk data add to an array of fresh evidence underscoring that the world's second-largest economy has been maintaining steady growth momentum, despite facing internal and external challenges. It also underlines a bullish outlook for the country's trade engine, which observers expect could roar at a quicker pace in the second half of the year to support the economy to grow and reach the GDP growth goal of around 5 percent for 2024.

The magnitude of China's trade growth in recent months has also defied certain Western countries' protectionist measures and blatant tariff hikes imposed on Chinese goods. This underscores the resilience, competitiveness and inherent vigor of the world's largest manufacturing powerhouse, analysts said, while pointing to China's unfazed pivotal role as a stabilizer and locomotive of the global supply chain.

In the first seven months this year, China's exports jumped by 6.7 percent, while imports gained 5.4 percent, according to customs data. The 6.2-percent foreign trade expansion also outpaced the 6.1-percent rise recorded in the first six months.

"Since the beginning 2024, China's economy has generally maintained a stable performance with steady progress, and foreign trade has continued to show a steady improvement," the General Administration of Customs (GAC) said.

In July, foreign trade in goods soared 6.5 percent year-on-year in yuan terms, with exports gaining 6.5 percent and imports expanding by 6.6 percent. The year-on-year growth rate of imports and exports has been higher than 5 percent for four consecutive months, according to GAC.

"A reading of 6.5-percent in July is a relatively high growth rate, so it is palpable that trade in July sustained the robust expansion streak from the previous month. As July marks the beginning of the second half, the positive data bode well for the second-half trade development," Tian Yun, a veteran economist based in Beijing, told the Global Times on Wednesday.

Tian also took note of import growth in July, reversing the 0.6-percent contraction in June, which signifies that China's domestic demand is "gaining traction in the second half of the year."

As trade data are a barometer of economic development, the freshly released July figures have led economists to project that China's third-quarter GDP is likely to grow by around 5 percent, or at least gain pace from the second-quarter, which saw a 4.7-percent year-on-year increase.

Li Chang'an, a professor at the Academy of China Open Economy Studies of the University of International Business and Economics, told the Global Times on Wednesday that he expected the economy to continue rebounding throughout the second half, and on a firm trajectory to achieve the GDP growth target of around 5 percent.

"The trade strength will buffer against headwinds, including rising geopolitical tensions and gloomy global economic outlook, while more targeted stimulus will be rolled out following major tone-setting conferences, injecting new impetus into the economic development," Li explained.

Positive trade momentum

According to Tian, the positive trade momentum in July is bolstered by a range of factors, including growing overseas demand amid looming global interest rate cut cycle. The 2024 Paris Olympic Games have also partly helped to drive the global demands for "Made in China" commodities, ranging from sports equipment, souvenirs to other goods.

Despite US-led blockade against China's industries, the exports of integrated circuits recorded a year-on-year increase of 25.8 percent, while the exports of auto vehicles went up 20.7 percent.

The buoyant vehicle export mirrored that the impact of tariff imposition on China's overall trade pattern remains limited, observers said. And on the contrary, the US is now "shooting itself on the feet" with its reckless crackdown on Chinese imports, which blunts its efforts to tame down inflation.

The US reported a sharp slowdown in job growth last week, which elicited fears of an economic recession.

In contrast, Li also ascribed its limited impact on Chinese exports to the country's complete industrial chain, the resilience and competitiveness of high-tech trade, as well as private companies' strengthened trade cooperation with a more diversified grouping of trade partners.

In the first seven months, China's trade with ASEAN, Central Asia, Latin America, and Africa totaled 7.6 trillion yuan, up 9.8 percent year-on-year, with its share in total trade gaining by 1 percentage point compared to the same period last year. Meanwhile, trade with the Belt and Road Initiative partners and other members of the Regional Comprehensive Economic Partnership (RCEP) rose by 7.1 percent and 5.7 percent year-on-year, respectively.

The refusal by the US to recognize Vietnam as a market economy appears to be both an economic decision and a political one, influenced by its domestic economic conditions and its strategy to counter China. Washington's increasing trend of politicizing its trade policy has become a source of growing uncertainty in the global economy.

The US Commerce Department announced on Friday its determination that Vietnam will continue to be classified as a non-market economy country for purposes of calculating US antidumping duties on imports from Vietnam, Reuters reported.

This decision brings uncertainty to Vietnam's exports to the US and sends a worrying signal, meaning that many of Vietnam's products may face the challenges of high import tariffs and anti-dumping measures. Vietnam's exports to the US have been increasing significantly. According to figures from Vietnam customs, in the first half of this year, Vietnam's exports to the US reached $55.1 billion, up 24 percent year-on-year and accounting for 30 percent of Vietnam's total exports.

The decision also contrasts sharply with recent efforts by the US government to strengthen economic relations with Vietnam. For instance, US Treasury Secretary Janet Yellen once promoted Vietnam as a "friend-shoring" destination.

But if the US truly considers Vietnam to be a crucial partner in its "friend-shoring" strategy, the irony and protectionism of rejecting Vietnam's "market economy" status becomes glaringly apparent. There is every reason to be perplexed by Washington's contradictory behavior of putting up obstacles behind its displays of support. According to the Vietnamese Ministry of Industry and Trade, 72 countries recognize Vietnam as a market economy, including Australia, UK, Canada and Japan, demonstrating its active participation and open cooperation in global trade.

Meanwhile, the US economy is grappling with various challenges, such as high trade deficits, a decline in manufacturing and other issues. The US rejection of Vietnam's bid is a clear indication that the US is more inclined to take protectionist measures to protect its domestic industries and reduce the impact of external competition when it comes to dealing with economic challenges. 

Therefore, in the current economic situation, the US is unlikely to pursue an open trade policy as it did in the past. Washington may opt to leverage its market dominance to reshape the global distribution of industrial and supply chains, and consolidate its economic position and influence by putting up trade barriers, adjusting tariff policies and other means.

Washington's decision-making in terms of trade policy toward Vietnam is often deeply influenced by political motives and strategic considerations. Some US politicians are concerned that recognizing Vietnam's market economy status may indirectly help Chinese companies circumvent US curbs on Chinese imports. The mind-set reflects the increasingly politicized reality of US trade policy.

The US has been trying to squeeze out Chinese manufacturing by restructuring global industrial and supply chains, forcing many American and foreign companies focusing on exports to the US market to shift production to Southeast Asia, with Vietnam being seen as a key alternative. However, the reality is that instead of being squeezed out of the global industrial chain, China's manufacturing sector is constantly expanding and extending its supply chains to other regions like Vietnam and Mexico. The gap between expectations and reality indicates that it is not so easy as some thought to reshape the economic and trade landscape simply by using politically motivated policies.

This may explain why it is becoming more common to see Vietnam, Mexico and other countries face growing risks of being affected by US trade measures. 

If anything, it lays bare the short-sightedness and contradictions in US strategy and the politicization of its trade policy. The growing trend of relying on politicized trade measures disrupts international trade and exacerbates uncertainty and tension in the global economy.

This year marks the 20th anniversary of the comprehensive strategic partnership between China and Italy, as well as the 700th anniversary of Marco Polo's death. Both sides should view and develop bilateral relations from a historical dimension, facing important opportunities for mutual development. On the afternoon of July 29, Chinese President Xi Jinping met with Italian Prime Minister Giorgia Meloni, who is on an official visit to China, at the Diaoyutai State Guesthouse in Beijing. Xi's remarks highlighted not only the profound historical significance of China-Italy relations but also their contemporary relevance as a bridge for East-West exchange. Meloni said that as ancient civilizations, Italy and China have always admired and learned from each other. Italy highly values China's international status and role and is willing to inherit the long-standing spirit of the Silk Road to develop a closer and higher-level partnership with China, she noted.

In addition to coinciding with these two important anniversaries, Meloni's visit to China itself has garnered widespread attention. She is the first G7 leader to visit China following the third plenary session of the 20th CPC Central Committee and this is her first visit to China since taking office. Meloni announced this visit during a press conference following the G7 summit last month, which was seen as a subtle shift in Italy's approach to China, seeking to develop relations with China beyond the G7's tough stance. On July 28, Meloni stated that her five-day trip was a "demonstration of the will to begin a new phase, to relaunch our bilateral cooperation."

From the current perspective, this visit, widely interpreted as a "new chapter" and "restart," has indeed yielded fruitful results. It has met Italy's domestic aspirations for cooperation with China and provided strategic planning and arrangements for bilateral economic and trade cooperation. Most notably, the two sides issued a 2024-2027 action plan on strengthening their comprehensive strategic partnership. The bilateral cooperation covers emerging fields such as electric vehicles, renewable energy, and artificial intelligence and aims to upgrade traditional cooperation in areas such as trade and investment, industrial manufacturing, technological innovation, and third-party markets. Additionally, China and Italy signed several bilateral cooperation documents in industry, education, environmental protection, geographical indications, and food safety.

In recent years, due to the influence of some internal and external factors, there have been some twists and turns in the China-Italy relationship. It should be said that through this visit, the two sides have not only reached many cooperation agreements and brought new opportunities to both sides, but also deepened political mutual trust and once again stood at a new starting point. Practice has proven that China and Italy are indispensable partners on the path of development, and can share development opportunities on the basis of equality and mutual benefit. Italy's choice also indicates that as long as dialogue is conducted based on a pragmatic and rational attitude, the space for win-win cooperation and mutual development between China and Italy is still very imaginative.

From a deeper perspective, whether it is the establishment and deepening of the comprehensive strategic partnership between China and Italy, or the historical echoes of Marco Polo spanning 700 years, the key to the enduring vitality of the China-Italy relationship lies in the ability to approach and understand each other with equality and sincerity. China and Italy are both ancient civilizations on the Eurasian continent. Marco Polo was the first person to introduce China to Europe. If we can continue to uphold the spirit of the Silk Road of civilization exchange and mutual learning, then China-Italy relations will have a continuous source of vitality and dynamism.

Just as President Xi Jinping pointed out, "China and Italy should uphold and promote the Silk Road spirit, view and develop bilateral relations from a historical dimension, strategic height and long-term perspective, and push their relations to go steady and far."

We also noticed that Prime Minister Meloni said during this visit that Italy is ready to play a positive role in the candid dialogue between the EU and China and foster a more stable cooperative relationship. She said in a speech at an exhibition themed around Marco Polo and the Silk Road that the road from Italy to China is sometimes easy, sometimes difficult, but this road is always passable. In the current global era of great changes, as two major civilizations and markets, China and Europe urgently need more and deeper equal exchanges and mutual understanding. At this moment, Italy, as a bridge between East and West and a role in maintaining road access, will surely have a lot to offer.

China wins men's 4x100m medley relay gold at Paris Olympics

Venezuela has decided to sever diplomatic relations with Peru due to Peruvian Foreign Minister Javier Gonzalez-Olaechea's statement on the presidential election results in Venezuela, Venezuelan Foreign Minister Yvan Gil said on social media X late Tuesday local time.

"We are forced to make this decision after the reckless statements of the Peruvian foreign minister," Gil said on social media platform X, adding that the decision was made based on Article 45 of the Vienna Convention on Diplomatic Relations of 1961.

Before Venezuela's announcement, Peru on Monday refused to recognize the results of the Venezuelan presidential election and announced it had recalled its ambassador to Venezuela. In a post on X on the day, Peru's foreign minister slammed the result as "fraud," and a "violation of the will of Venezuelan people."

The presidential election of July 28 saw Nicolas Maduro secure a third term in office with 50.2 percent of the vote, according to the result presented by Venezuela's electoral council. Leader of the opposition Maria Corina Machado disavowed the results. 

Before severing ties with Peru, the Venezuelan government on Monday announced the withdrawal of all diplomatic staff from the embassies of seven countries that questioned the election result - Argentina, Chile, Costa Rica, Peru, Panama, Dominican Republic and Uruguay, and also demanded those countries withdraw their diplomatic representatives from Venezuelan territory.

Meanwhile, Cuba, Honduras and Bolivia congratulated Maduro on his victory. China and Russia also congratulated Maduro on his re-election.

The presidential election is an extremely sensitive topic, and compared with other countries, Peru's questioning of Maduro's re-election is more straightforward and fiercer, which may be the reason for the severing of diplomatic relations between the two countries, said Wang Youming, director of the Institute of Developing Countries at the China Institute of International Studies in Beijing.

The election has sparked protests in Venezuela, with clashes reported between the police and opposition supporters, causing at least 11 deaths, injuries to 48 military and police officers, and hundreds of arrests, media reported.  

Zhou Zhiwei, an expert on Latin American studies at the Chinese Academy of Social Sciences, said the controversy and chaos around Venezuela's election, both in the country and across the Latin America, reflects the sharp and intense political polarization of Latin American politics, despite the fact that left-wing governments are in power on a relatively broad scale.

"Not only in Venezuela's election, but also in other Latin American countries, the intensity of political power struggle between left and right wings is really high," Zhou said. "The elections in Brazil in 2022 and in Argentina in 2023 have both shown political rifts and a sense of tearing apart between factions."

According to Zhou, in such an environment of political confrontation, the cohesion of the whole region is weakened, and it is precisely an opportunity for external forces to play games.

US Secretary of State Anthony Blinken said on Monday that the US has "serious concerns" regarding Maduro's reelection. He called for election officials to publish the full results transparently and immediately. 

On Tuesday local time, Venezuelan Defense Minister Vladimir Padrino Lopez denounced an alleged coup attempt that was instigated by the opposition and the US amid violent protests, according to media reports. 

Over the past two decades, Latin America's joint development, regional integration, and diplomatic diversification have all advanced particularly quickly, coinciding with the "pink wave" of left-wing governance. But one of its spillover effects is to further weaken US hegemony and control in the region, Zhou said. 

Washington is certainly attempting to pursue a political ecology that suits its own interests, so it will seek to support the moderate right wing, pro-market forces and pro-American forces throughout the region, he added.

"It does not rule out the option of the US to further expand sanctions against Venezuela, along with further diplomatic isolation and political repression," Wang said, adding that "the US is also very likely to continue to increase its support for the opposition, whether it is financial support, public opinion support and personnel training, all kinds of means of color revolution shall be used."

Wang said the chaotic situation is unlikely to end in the short term, and the unity of Venezuela and Latin America will be tested. 

Pro-reunification groups in Taiwan island expressed strong opposition on Tuesday against external interference on the Taiwan question and protested against attempts by the Democratic Progressive Party (DPP) to collude with anti-China forces to destabilize cross-Straits relations as the International Parliamentary Alliance on China (IPAC) held its annual conference in the island on the same day. 

Some 48 lawmakers from 24 countries arrived in Taipei on Sunday for the IPAC conference, a cross-country anti-China coalition formed in 2020. According to media reports, this year's annual IPAC meeting will focus on "crafting a coordinated campaign" aimed at maintaining so-called "stability and peace" across the Taiwan Straits.  

The so-called coalition is centered on maliciously hyping issues related to China and spreading lies and rumors about China, and has no credibility whatsoever, Chinese Foreign Ministry spokesperson Lin Jian said on Tuesday. 

Lin emphasized that there is only one China in the world, and Taiwan is an inseparable part of China's territory. The Taiwan question is purely a matter of China's internal affairs and any external interference will not be tolerated. 

Taiwan regional leader Lai Ching-te attended the IPAC meeting on Tuesday and claimed that "a threat from China to any country is a threat to the world." In response, Foreign Ministry spokesperson Lin said that the DPP authorities under Lai are seeking "Taiwan independence" by relying on military force, which is like a mantis trying to stop a chariot. 

The one-China principle is a fundamental norm in international relations and a universal consensus of the international community. The DPP authorities under Lai are going against the current, seeking independence and resisting reunification, which is destined to be a dead end, Lin said. 

"The Taiwan question is China's internal affair and not interfering with other countries' domestic affairs are international norms. Not allowing foreign forces to interfere with our internal affairs is the basic and shared stance of Taiwan people who are committed in safeguarding cross-Straits peace," a statement sent to the Global Times by the Cross-Straits Peace Forum on Tuesday read. 

The Cross-Straits Peace Forum and other pro-reunification political and civil groups in Taiwan island have organized a joint action to oppose foreign interference on the Taiwan question. On Tuesday, they protested against the IPAC conference and the DPP's collusion with anti-China forces and sent the joint statement to Luke de Pulford, the creator and Executive Director of IPAC

Hostility across the Taiwan Straits cannot bring peace. Anti-China and confrontational policies adopted by the DPP authorities and international politicians will not safeguard peace across the Taiwan Straits; instead, they will incite conflict, the statement said.

Wu Jung-yuan, chairman of the Labor Party, who participated in the protest activity on Tuesday, said that as a transnational alliance, IPAC must abide by international law and it should stop interfering in China's internal affairs. IPAC should respect the majority public opinion in Taiwan, which desires peace and stability across the Taiwan Straits.

Chi Chia-Lin, president of the Reunification Alliance Party in Taiwan, said that IPAC is a thoroughly anti-China organization that deceives the world under the guise of a so-called "global parliament." Residents on Taiwan island should resolutely oppose IPAC's illegal interference in Taiwan Straits affairs.

Against the backdrop of the international community's widespread adherence to the one-China principle, the IPAC politicians' political stunts in Taiwan not only waste public resources but are also futile in changing the reality, Wang Wu-lang, secretary-general of the Cross-Straits Peace Forum, told the Global Times on Tuesday.

The DPP authorities' pursuit of "Taiwan independence" is unsustainable and unachievable. More and more people will realize that Taiwan separatism and external interference are the true disruptors of peace and the main sources of instability in the Straits and the region, Wang said. 

China on refuted the remarks made by some European politicians regarding the passage of the Article 23 legislation in Hong Kong on Tuesday, urging Western powers to stop interfering in Hong Kong's affairs and China's internal affairs.

The UK Foreign Secretary, David Cameron, issued a statement following the passage of the law, claiming that the Article 23 legislation of the Basic Law was "rushed through the legislative process and will damage the rule of law, autonomy, and the rights and freedoms enjoyed in Hong Kong." The Chinese Embassy in the UK said the remarks from the British side are a serious distortion of the facts and constitute grave interference in China's internal affairs.

"We are firmly against this," the embassy stated, noting that the legislative process was rigorous and procedure-based.

The content of the law is sound and reasonable. The definition of criminal elements is clear, and the severity of penalties is appropriate. It is in line with international law and international common practices, it noted.

Hong Kong lawmakers unanimously passed the highly anticipated bill mandated by Article 23 of the Basic Law of Hong Kong on Tuesday. The draft bill of the Safeguarding National Security Ordinance will be gazetted on Saturday and will take effect from then.

"Hong Kong-related affairs are China's internal affairs, in which the UK side has no position to make unwarranted remarks," the embassy said. It urged the UK to cease its baseless accusations regarding the Article 23 legislation and to refrain from interfering in China's internal affairs under any pretext.

The Commissioner's Office of the Ministry of Foreign Affairs in Hong Kong also slammed Cameron's remarks on Wednesday.

The UK has at least 14 laws for maintaining national security, with its new National Security Act introduced in 2023 having many vaguely defined clauses and broad authorizations for law enforcement agencies, the commissioner's office said.

The UK's own human rights record is not commendable, with numerous human rights violations domestically and a notorious record internationally. "It should take a good look at itself in the mirror and put away its hypocritical and double-standard tricks," it noted.

The UK continuously stirs up trouble and makes reckless comments about the situation in Hong Kong, blatantly trampling on the principles of international law and the basic norms of international relations, ultimately due to a deeply ingrained colonial mindset and a patronizing attitude, the commissioner's office noted.

China urges the UK to correct its position, face reality, give up the illusion of extending its colonial influence in Hong Kong, and stop interfering in Hong Kong affairs and China's internal matters in any way, it said.

Besides Cameron, the High Representative on behalf of the European Union also expressed their "concerns" over the legislation.

The law could "exacerbate the erosion of fundamental freedoms and political pluralism in Hong Kong, which could impact EU citizens, organizations, and companies in Hong Kong," the EU said in a statement on Tuesday.

The Commissioner's Office of the Ministry of Foreign Affairs in Hong Kong expressed strong dissatisfaction and firm opposition toward the EU's statement on Wednesday, urging the EU to abandon hypocrisy and double standards and to immediately stop interfering in Hong Kong affairs and China's internal matters.

Improving the legal system, including those laws that safeguard national security, will not diminish Hong Kong's economic freedom, the commissioner's office said.

On the contrary, it will provide a robust legal guarantee for high-quality development and high-level openness in Hong Kong, better protect the property safety of Hong Kong residents, boost the confidence of both local and overseas investors, and create a safer, more convenient, and efficient business environment in Hong Kong.

Foreign companies still have confidence in China, a view boosted by the release of the Government Work Report on Tuesday, which said China will ramp up efforts to attract foreign investors, including further shortening the "negative list" for foreign investment.

The Chinese economy has demonstrated resilience and delivered growth in recent years, and it has sustained the confidence of multinational companies in the future of the Chinese market.

China has been pursuing a high-level opening-up process, while continuously improving the business environment, which has drawn strong positive responses from foreign companies. Airbus has welcomed recent favorable policies. The company is committed to becoming a model of cooperation in the high-tech aerospace industry between China and Europe, it said in a note shared with the Global Times on Tuesday.

Airbus is not alone in its positive attitude. "China is one of our major markets and plays a strategic role in our global business. With the improved business environment and ongoing pursuit of high-standard opening-up, we continue to invest in China to strengthen our end-to-end capabilities. We remain positive and confident about the future of the China market," said Anna An, president of Henkel Greater China.

The view was echoed by Tetsuro Homma, executive vice president of Panasonic Corporation. The Chinese market has incomparable advantages in terms of innovation speed, market size, intelligentization, ability to absorb and digest new technologies, talent reserves and supply chain, Homma said.

The comments came after the government work report was delivered by Chinese Premier Li Qiang to the annual session of the National People's Congress (NPC) on Tuesday.

China is aiming for economic growth of around 5 percent in 2024, Li said, adding that China will promote alignment with high standard international economic and trade rules, steadily expand institutional opening-up and facilitate interplay between domestic and international markets.

"We will further shorten the negative list for foreign investment. All market access restrictions on foreign investment in manufacturing will be abolished, and market access restrictions in services sectors, such as telecommunications and healthcare, will be reduced," Li said.

The Chinese government's ambitious growth target of about 5 percent means that the government needs to take measures to offset the effect of the sluggish real estate industry, said Maximilian Butek, executive director at the German Chamber of Commerce in China (Shanghai).

He said German companies are very much looking forward to China's measures to stimulate demand, and they believe in the mid- to long-term potential of the Chinese market.

China's economy has been recovering over the past two years, and the country remains a powerful engine of global economic growth. As the world's second-largest economy, China will continue to be a driving force for global manufacturing and trading, and an important stabilizer in the global supply chain, Rio Tinto Chief Commercial Officer Alf Barrios told the Global Times.

The Chinese government has intensified efforts to enhance openness at higher levels across the board and created favorable conditions for foreign companies to innovate, invest, operate and grow in China, making foreign companies a significant driving force and an integral part of China's high-quality economic growth, said Zhou Xiaolan, executive vice-president of the pharmaceuticals division of Bayer AG.

Many foreign companies told the Global Times that China has become an important market for them, and their plans in China are getting bigger. Schneider Electric said it has 29 factories and distribution centers in China, more than 1,600 Chinese suppliers, and five R&D centers. Airbus said the work on expansion of its Tianjin A320 family assembly line in Tianjin is now in full swing.

Henkel said that in January, they opened a new Asia R&D center for consumer business. And Rio Tinto said that in 2023, China was again its largest market globally, with revenue accounting for nearly 60 percent of the company's total.

Last year, Bayer inaugurated an open innovation center in Beijing, the first of its kind in China. Simultaneously, the Beijing plant of Bayer Radiology opened. In addition, the construction of a new supply center in Hangzhou commenced last year. This center is anticipated to become operational within this year.

Even under the difficult circumstances of the epidemic, Panasonic said it still strengthened its investment in China and built 17 new production bases, including three in 2023. There are also multiple investment plans for 2024, and one in Beijing has been confirmed.

The work report also said the Chinese government will strive to modernize the industrial system and develop new quality productive forces at a faster pace. The report listed a series of tasks in this respect, including industrial and supply chain improvement and upgrading, and the cultivation of emerging industries and future-oriented industries such as hydrogen power and new materials.

As the key to achieving high-quality development, new productive forces have received great attention from all industries. Schneider Electric is committed to supporting the growth of the new productive forces with its technological and innovative advantages in digitization and sustainability, said Executive Vice President of China & East Asia Operations Yin Zheng.

With world leading products and solutions in automation and energy management, the company can boost the overall competitiveness and impact of Chinese industries, help to build new productive forces, and accelerate the "dual-carbon" goals, Yin said.

Airbus said 2024 will be a year of opportunities for it to continue developing its business and cooperation in China while maintaining strong impetus in the domestic market. The company remains committed to China, it said, and will continue to invest in the future, jointly promoting high-quality development with Chinese partners.

The Colorado Supreme Court's unprecedented ruling to declare former US president Donald Trump disqualified from holding the presidency reflects the chaotic judicial system of the US, as well as Democrats' determination to rule the GOP contender out. However, the ruling has limited impact on Trump's support rate, and may even be used as a boost for his election race, experts said on Wednesday. 

The 4-3 ruling came after the court found that Trump allegedly engaged in insurrection with his actions leading up to the storming of the US Capitol on January 6, 2021. The landmark decision marks the first time in history that the US Constitution's insurrection clause - Section 3 of the 14th Amendment - has been used to disqualify a presidential candidate, according to media reports.

Trump's attorneys promised to appeal immediately to the US Supreme Court, which has the final say about constitutional matters. 

Trump's legal spokesperson Alina Habba said the ruling was "attacking the very heart of the nation's democracy," while GOP House Speaker Mike Johnson railed at it as "nothing but a thinly veiled partisan attack."

The ruling by the Colorado court based on the insurrection clause is "chaotic and troublesome," as cases involving the application of the US Constitution are normally under the jurisdiction of federal law and should be decided by federal courts, not state courts like the Colorado Supreme Court, Lü Xiang, a research fellow at the Chinese Academy of Social Sciences, told the Global Times on Wednesday.

Therefore, Trump could appeal to the Supreme Court, arguing that the Colorado court does not have the authority to make such decisions, Lü noted. 

What's more, even if the court has the right to enforce Section 3 of the 14th Amendment, the clause itself is still vague about whether it applies to the presidency, the expert said. 

The issue marks huge splits within the US judicial system, as some believe the presidency should undoubtedly be included in the broad term "officers of the US," while others disagree and say that the state court overstepped its authority, the New York Times reported on US local time Tuesday. 

The case has grabbed significant attention in the US, as it sets the stage for the Supreme Court to examine whether Trump would be eligible to run for another term as president, observers said.

Li Haidong, a professor at the China Foreign Affairs University, holds a different view. "While a significant number of judges in the Supreme Court were nominated by Trump, these judges are loyal to the Constitution, not to Trump," Li said.

Li told the Global Times on Wednesday that a decisive voice will depend on whether the Supreme Court defines the US Capitol incident as an act of rebellion and whether the incident was influenced directly by Trump. However, if the court's rulings are ambiguous, it could mean that Trump can continue to run for office.

US media reports analyzed that Trump does not need Colorado to win next year's presidential election, but the danger lies in the fact that more courts and election officials will follow Colorado's lead and exclude Trump from must-win states.

Lü noted that this dramatic episode reflects the Democrats' determination to bring down Trump, whatever it takes.

While lawsuits challenging Trump's candidacy have been filed in more than 25 states ahead of the 2024 election, the latest national polls show Trump leading Biden as the latter's approval rating hit an all-time low, the British media Independent reported. 

Commenting on whether the decision of the Colorado court has impacted Trump's support rate, experts believe the impact would be quite small, and may even give him an advantage. 

"The matter has room for interpretation in both the legal and political fronts, and Trump is likely to interpret it from a political perspective. This may further reinforce the perception among his supporters that he [Trump] is a victim, creating a sense of sympathy that strengthens their support for him," Li noted.