China
Shenzhen's Rise: From Humble Beginnings to Global Tech Titan
In the late 1970s, Shenzhen was a modest fishing village, tucked away in the southern tip of Guangdong Province, China. With a small population, it was an unlikely candidate for economic stardom. Fast forward to the present day, and Shenzhen has metamorphosed into a bustling metropolis with a population exceeding 17 million — known globally as a hub of innovation and technology.
This transformation is a cornerstone of China's economic reform and a testament to the power of strategic vision and policy.
Shenzhen's remarkable transformation is showcased at the city's Reform and Opening-up Exhibition Hall, which we, a team of visiting Bangladeshi journalists, explored on April 21. Our subsequent tours of Huawei and Mindray Medical International Limited headquarters on the following day further reinforced our impressions of the city's rapid development and technological prowess.
The Catalyst of Change: Economic Reform Policies
The pivotal moment for Shenzhen came in 1980 when it was designated as China's first Special Economic Zone (SEZ) by Deng Xiaoping’s government. This designation intended to attract foreign investment and test market reforms. Shenzhen’s proximity to Hong Kong, a global financial hub, made it an ideal testbed for these reforms.
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The SEZ status conferred unprecedented autonomy on the city in economic decision-making,
Tax incentives, fewer bureaucratic steps, and market-oriented business environment catalyzed an influx of foreign investments.
Infrastructure and Industrialization: Laying the Foundation
Concurrent with policy reforms, Shenzhen's infrastructure underwent a dramatic overhaul. The government invested heavily into building roads, ports, railways, and telecommunications networks, drastically enhancing the city’s connectivity and efficiency. The establishment of the Shenzhen Stock Exchange in 1990 further positioned the city as a financial center.
Industrial parks sprang up around the city, attracting manufacturing units from electronics to pharmaceuticals. The move from a primary focus on manufacturing to include high-tech industries was signalled by giants like Huawei and Tencent establishing their headquarters in Shenzhen. This not only diversified the city’s industrial base but also elevated its status to that of a global technology nexus.
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Innovation and Talent Attraction: Fuelling Sustained Growth
Shenzhen's policies have always favored innovation and creativity. The city is now renowned for its robust intellectual property protections which has made it attractive for tech startups and entrepreneurship. In addition, Shenzhen invests heavily in education and R&D, drawing talents from across the globe to its research institutes and think tanks.
The city’s rapid economic expansion is also supported by a unique culture that encourages experimentation and innovation. This is embodied in the landscape of sprawling tech campuses and vibrant startup incubators that dot the city.
Huawei's Robust Growth Amid Diverse Innovations
Huawei Technologies Co. Ltd., a global leader in information and communication technology (ICT) and smart devices, reported a robust revenue of US$97 billion for the year 2023. This financial milestone was prominently fueled by the company's ICT technology infrastructure, which constituted half of the total revenue.
In a strategic push to spearhead technological advancements, Huawei invested a substantial 23.4% of its annual revenue into research and development (R&D) in 2023.
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It also marked a year of solid performance for Huawei’s core ICT infrastructure operations, while its consumer business achieved its set targets efficiently. The company's forays into cloud computing and digital power sectors reported steady growth. Notably, Huawei's intelligent automotive solution business commenced large-scale deliveries, signaling a promising diversification strategy that aligns with global digital transformation trends.
Discovering Guangzhou's Architectural Marvels
Nestled in the heart of the city, the Guangzhou Urban Planning Exhibition Center offers a glimpse into the city’s fascinating history, sustainable development, and dynamic future, while the iconic Canton Tower lights up the skyline with its breathtaking display of innovation and design. These landmarks highlight why this city is a must-visit for architecture enthusiasts and casual tourists alike.
Gateway to Yesterday and Tomorrow: Guangzhou Urban Planning Exhibition Center
The Guangzhou Urban Planning Exhibition Center isn't just another museum. Encased in a shimmering glass veneer, this center captivates from the first step inside, where a sprawling scale model of Guangzhou commands attention, portraying the intricate dance between the city’s historical layers and its leaps towards tomorrow.
Navigating through the center, each floor unfolds like chapters in a sci-fi novel, from Guangzhou’s humble beginnings to its thrust into the megacity league. Augmented reality setups bring a zest of magic, transforming static urban models into dynamic landscapes bustling with potential life. Here, technology meets urban planning, creating immersive narratives that celebrate both the city's heritage and its high-tech horizon.
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One can't help but be inspired by the city's ambitious vision to blend sustainability with urban growth. The center not only educates about urban planning but also ignites imaginations about the cities of the future.
Canton Fair 2024: Global Trade Epicenter Uniting Innovation and Commerce under One Roof
Each year, Guangzhou becomes the focal point of international trade through the China Import and Export Fair, famously known as the Canton Fair. The 135th session of Canton Fair officially opened its doors on April 15, 2024. This mega event serves as a vital platform for both established and emerging markets, promoting a diverse range of products from basic raw materials to advanced electronics and machinery.
Strategic Importance and Government Support
Zhou Shanqing, Director General of the Canton Fair Press Center and Deputy Director General of China Foreign Trade Center, detailed the extensive preparations that underscore the significance the Chinese government places on this event. Praised by Chinese President Xi Jinping through congratulatory letters and emphasized in the 2024 Government Work Report, the Canton Fair is crucial for stabilizing and expanding foreign trade. It serves as a strategic node for showcasing China's commitment to open economic policies and supporting global cooperation.
Sailing through lights: A Pearl River cruise in Guangzhou
As the sun dips below the horizon, Guangzhou transforms into a city of lights. The Pearl River, or Zhujiang, which slices through this sprawling metropolis, offers the best seat in the house for an unforgettable nighttime spectacle: a river cruise that showcases the illuminated beauty of the city, with the iconic Canton Tower aglow in the backdrop.
Embarking on the Journey
The journey began at the bustling wharf in the city center, where our team of Bangladeshi journalists gathered to board one of the many boats decked out in vibrant lights. As the cool evening breeze wafted over the river, the boat slipped away from the dock, and the city's bustling sounds faded into a serene silence punctuated only by the gentle lapping of water against the hull.
Canton Tower: A Beacon of Light
The highlight of the cruise is undoubtedly the passage beside the Canton Tower. This 600-meter-tall architectural marvel is not just a feat of engineering but also a canvas for a dazzling light show. As the boat glided along, the tower emitted radiant light sequences that painted the sky in a kaleidoscope of colors. The reflection of these lights on the water's surface created a mesmerizing double spectacle.
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A River Lined with Illuminations
But the Canton Tower isn't the only highlight lighting up the night. The cruise offers panoramic views of Guangzhou’s skyline, lit by the glow from numerous buildings and bridges. Each structure along the riverbank contributes its own unique burst of color, from the traditional reds and golds to the modern neon blues and greens that outline the sleek, contemporary facades of newer constructions.
The Liede Bridge dazzles with its dynamic light show synchronized to music, making it a floating dance of luminescence. This, combined with the shimmering outlines of other bridges like the Jiangwan and Haiyin, forms a continuous visual symphony that reflects Guangzhou's blend of tradition and modernity.
For those keen on photography, the cruise is a treasure trove of opportunities. The play of light and shadow, along with the city's reflection on the calm waters, makes for stunning compositions. Whether it's capturing the sweeping arc of a brightly lit bridge or the Canton Tower's ever-changing colors, each moment is a photographic masterpiece waiting to happen.
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PM Hasina likely to travel to India and China in first bilateral visits since forming new govt
Prime Minister Sheikh Hasina is set to embark on bilateral visits to New Delhi and Beijing within the next three months, marking her first such engagements after the January 7 national election. These visits are aimed at deepening Bangladesh's connections with India and China, Asia's two leading economic powers.
Following the formation of the new government, Prime Minister Hasina attended the Munich Security Conference in Germany in February, highlighting her active engagement on the global stage.
Diplomatic sources indicate that PM Hasina's visit to India is planned after the conclusion of the neighbouring country’s national election, which is the world's largest democratic exercise, spanning seven phases from April 19 to June 1, with the vote count set for June 4.
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Pre-election surveys suggest a strong showing for the coalition led by Indian Prime Minister Narendra Modi, who is widely anticipated to secure re-election.
"Prime Minister's (Sheikh Hasina) India visit will definitely take place. However, it will take place after the election in India," Foreign Minister Hasan Mahmud said.
He said it is not yet discussed at the official level when the visit will exactly take place.
In January, Prime Minister Modi extended warm congratulations to PM Hasina on her electoral victory, expressing hopes for the continued strengthening of the historically close ties between India and Bangladesh.
The last bilateral engagement between PM Modi and PM Hasina occurred during the G-20 Leaders Summit in September 2023, where Bangladesh was the guest country.
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PM Modi is expected to extend invitations to South Asian and BIMSTEC country leaders for his swearing-in ceremony, fostering regional cooperation.
Additionally, PM Hasina's forthcoming visit to China in July was underscored during a meeting with Chinese Ambassador Yao Wen, who reiterated China's commitment to boosting investment in Bangladesh and enhancing bilateral relations.
Ambassador Yao emphasised the significance of the visit in promoting trade, investment, and cultural exchange, aligning with Bangladesh's aspirations for "Vision 2041" and the realisation of a "Smart Bangladesh."
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China invites PM Hasina to pay official visit
China has invited Prime Minister Sheikh Hasina to pay an official visit to Beijing as the country is "ready" to work with the new government of Bangladesh to further deepen mutually beneficial and friendly cooperation in all fields.
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"China has invited our Prime Minister to visit. Discussion is underway to arrange it at a mutually convenient time," Foreign Minister Hasan Mahmud told reporters after his meeting with Chinese Ambassador to Bangladesh Yao Wen at the Ministry of Foreign Affairs on Sunday.
The two sides had in-depth discussion on bilateral relations and regional and international affairs.
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China said it firmly supports Bangladesh in safeguarding national sovereignty, independence, territorial integrity, unity and stability, and in opposing external interference.
PM Sheikh Hasina paid an official visit to China from 1-6 July 2019. She also participated at the 13th Summer Davos Forum in Dalian.
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During the visit, Prime Minister Sheikh Hasina called on Chinese President Xi Jinping.
Chinese delegation meets BGMEA leaders to discuss trade and investment potential
A delegation from China, comprising representatives from the China Knitting Industrial Association and the China Cotton Textile Association, visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday.
The visit aimed at exploring potential collaboration, particularly in the textile and apparel sector to derive mutual trade benefits.
The Chinese delegation included Lin Yunfeng, chairman of China Knitting Industrial Association, Jing Shenquan, vice chairman of China Cotton Textile Association, and Wei Wei, vice director of the Department of China Knitting Industrial Association.
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Besides, representatives from various Chinese companies specializing in textile machinery, chemicals, and raw materials were also part of the delegation.
During the visit, they met with BGMEA leaders including President Faruque Hassan, Senior Vice President S. M. Mannan (Kochi), Vice President Shahidullah Azim, and Vice President (Finance) Khandoker Rafiqul Islam.
BGMEA Directors Faisal Samad, Haroon Ar Rashid, Barrister Vidiya Amrit Khan, Md. Imranur Rahman, and Neela Hosna Ara were also present in the meeting.
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They discussed trade and investment opportunities, fostering collaboration, and expanding business scope between Bangladesh and China in the textile and apparel sector.
BGMEA President Faruque Hassan gave an overview of Bangladesh’s apparel industry, especially its strong emphasis on shift towards manufacturing high-value products, particularly man-made fiber-based garments.
He sought China’s investment in high-end textile and backward linkage industries in Bangladesh that would bring benefits to both sides.
He also emphasized China’s support in enhancing capabilities through the exchange of knowledge and technical expertise.
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He said the shift to non-cotton apparel would lead to an increase in demand for man-made fiber-based fabrics, chemicals, and other raw materials, and China is well-positioned to meet Bangladesh’s requirements.
President Faruque Hassan also highlighted the high potential for garment exports from Bangladesh to China.
Arafat appreciates Chinese support for Bangladesh’s development
State Minister for Information and Broadcasting Mohammad Ali Arafat on Sunday appreciated China for its everlasting and firm support for Bangladesh’s national development and construction.
He noted that the Chinese side has made significant contribution to the promotion of the Bangladeshi people’s wellbeing.
Chinese Ambassador to Bangladesh Yao Wen met the State Minister and discussed issues of mutual interest.
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The two sides had in-depth discussion on people-to-people exchanges, communication, and media cooperation. Zhang Jing, Political Director of the Embassy, was present at the meeting
The Bangladeshi side is ready to further deepen bilateral practical cooperation with China in various fields, said the Chinese Embassy in Dhaka.
Personnel and cultural exchanges are fundamental for promoting people-to-people contact, it said.
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He is willing to make his own contribution to the friendly cooperation between the two countries on cultural exchanges, communication and media cooperation during his tenure in the present office.
Ambassador Yao congratulated Arafat for his assumption to office, and reiterated China’s consistent and unswerving support for Bangladesh in safeguarding national sovereignty, independence, territorial integrity, unity and stability, and in opposing external interference.
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Under the joint guidance by the two leaderships, the China-Bangladesh Strategic Partnership of Cooperation has kept advancing, said the Ambassador.
Over the past years, he said, personnel and cultural exchanges have become a promising growth point for bilateral relations.
"China stands ready to work with Bangladesh to further enhance such exchanges, promote mutual learning on media and communication, thereby strengthen the bonds between the two peoples," said the American.
PM's principal secretary urges China and IFC to boost investments in Bangladesh
Prime Minister's Principal Secretary Md Tofazzel Hossain Miah has urged China and the International Finance Corporation (IFC) to increase their investments in Bangladesh.
Tofazzel made the call when Chinese Ambassador to Bangladesh Yao Wen and International Finance Corporation (IFC) Country Manager Martin Holtmann paid separate courtesy calls on him at the Prime Minister's office on Thursday afternoon.
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During the courtesy call, the Chinese ambassador thanked the Bangladesh government for holding the 12th parliamentary election in a free and fair manner and vowed to work with the new government in different sectors of Bangladesh.
Tofazzel thanked China for its significant role in the ongoing development activities of Bangladesh and for sending observers to the 12th parliamentary elections. He urged the envoy to increase Chinese investment in Bangladesh.
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In a separate meeting PM’s principal secretary requested the IFC country manager to increase private sector investment in Bangladesh and sought IFC's all-out support in implementing the “National Logistics Development Policy” proposed by the government of Bangladesh.
He also requested IFC's cooperation in expanding riverine accessibility in Bangladesh and construction of ports and jetties.
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IFC Country Manager Holtmann expressed interest in providing loans to the lower and middle class people in Bangladesh's housing sector.
Officials from the Prime Minister's Office, China Embassy and IFC were present during the courtesy calls.
Bangladesh, China discuss promoting FTA negotiation and attracting investment
Bangladesh and China have discussed promoting Free Trade Agreement (FTA) negotiation, providing more financial support for bilateral trade, and attracting more Chinese enterprises to invest in Bangladesh.
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Chinese Ambassador to Bangladesh Yao Wen met State Minister for Commerce Ahsanul Islam (Titu) on Wednesday and discussed the issues.
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The two sides spoke highly of the major achievements in trade and investment between Bangladesh and China.
They agreed to expand the scale of bilateral trade, especially the export of Bangladeshi high-quality specialty products to China.
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