Outcomes of First China-ASEAN-GCC Summit - Focus on Patriotism at Cross-Strait Chinese Culture Summit - How To Be Good Youth of the New Era? - Industrial Profits Rise
Let’s begin with the coverage of the ASEAN-GCC-China summit.
The report on Page 1 today basically draws from Li’s remarks at the summit meeting. The full speeches at the summit and the ASEAN-China-GCC Economic Forum are published on Page 2. The full English text of each is also available via Xinhua.
In his remarks, Li called the platform a “groundbreaking initiative in regional economic cooperation”. He then made three broad points:
First, we should set a fine example of opening up across regions. Together, China, ASEAN and the GCC account for roughly a quarter of the world’s population and economic output. Our markets, if fully connected, will generate even greater space for development and more substantial economies of scale. The China-ASEAN Free Trade Area 3.0 upgrade negotiations have been fully concluded. It is hoped that the negotiations for the China-GCC Free Trade Agreement can also be concluded as early as possible to take trilateral trade to a higher level. We should firmly expand regional opening up, and develop a big market with more efficient mobility of resources, technologies and talents and enhanced trade and investment liberalization and facilitation to fully unlock the huge potential of open development.
Second, we should set a fine example of cooperation across development stages. Countries of the three sides are at different stages of development, yet we should not let these differences stand in the way of our cooperation, but transform them into complementary strengths that we can harness. China is ready to, on the basis of mutual respect and equality, work with ASEAN and the GCC to strengthen the alignment of development strategies, increase macro policy coordination, and deepen collaboration on industrial specialization. We should make efforts to turn our respective strengths into collective strengths, and help each other tackle development challenges. We should create a new model of international industrial and economic cooperation, and strive for coordinated development where everyone does its level best, efficiency is multiplied, and benefits are shared.
Third, we should set a fine example of inter-civilization integration. Countries of the three sides have diverse civilizations. At the same time, we all belong to the same Asian family and share the same Asian values of peace, cooperation, openness and inclusiveness. We should deepen people-to-people exchanges to further consolidate the foundation for mutual trust. We should effectively manage differences in the spirit of mutual understanding, advance win-win cooperation through the exchange of ideas, and explore a new way for promoting the inclusiveness and common progress of different civilizations. China actively supports Prime Minister Anwar's initiative on Islam-Confucianism dialogue. We are ready to work with ASEAN and the GCC to implement the Global Civilization Initiative, promote mutual learning among civilizations, and pool more consensus and strengths for peace and development.”
He then adds:
“Between our three sides, we should work together to promote cooperation in key areas and achieve more effective common development. China is ready to discuss with ASEAN and the GCC a trilateral action plan on high-quality Belt and Road cooperation. We should enhance synergy and connectivity in infrastructure, market rules and payment systems, actively consider establishing a regional business council, deepen economic integration, and make development more resilient and efficient. While expanding cooperation in traditional areas such as energy and agriculture, we also need to step up cooperation in emerging areas such as AI, the digital economy, and green and low-carbon development to foster and cultivate new growth drivers. We should also respond to our people's aspiration for enduring friendship, and deepen people-to-people exchanges. To promote travels and people-to-people bond between the three sides, China has decided to roll out an ‘ASEAN visa’ for Southeast Asian countries offering five-year multiple-entry visas to eligible applicants for business and other purposes, and to extend unilateral visa-free policy to Saudi Arabia, Oman, Kuwait, and Bahrain on a trial basis, which will effectively give visa-free status to all GCC countries. At the global level, we should always stand on the right side of history and add more positive energy to world peace and development. We should pursue equal, mutually beneficial, open, inclusive, practical and efficient cooperation, and, through our example, encourage the international community to uphold multilateralism and free trade and reject unilateralism and protectionism. China will work with ASEAN and GCC countries to step up communication and coordination in multilateral mechanisms including the United Nations, vigorously defend the common interests of developing countries, categorically oppose hegemonism and power politics, and make global governance more just and equitable.”
Speaking at the Economic Forum, Li shared three observations:
First, “at present, economic globalization is suffering heavy blows never seen before. The values we pursue all along, such as peace, development and win-win cooperation, are severely challenged. Properly addressing these issues will bring significant opportunities for the countries of our three sides. Amid heightened geopolitical conflict, rivalry and confrontation, we can create long-term strategic opportunities when we deepen mutual trust and strengthen solidarity. The rapid development of Asia in the past decades offers a profound lesson: Only solidarity, mutual trust, peace and stability can bring development and prosperity … Amid rising protectionism and unilateralism, we can unleash enormous market opportunities when we continue to open wider and remove barriers. Countries of our three sides have all benefited from economic globalization and gained great development opportunities from integration into the world market. Our markets, when connected, will form one of the world’s largest intra-regional markets and produce a multiplier effect. Building the big market will allow our countries to reap and share more benefits. Amid more decoupling practice, supply-chain disruptions and trade barriers, we can create opportunities for transformation and upgrading when we keep sharing resources and empowering one another. Countries vary in resource endowments and industrial structure. They bring different strengths to and gain from international industrial cooperation. This will maximize the use of resources, and boost industrial performance and sustained development for all who take part.”
Second, “we are about a quarter of the world’s population and the global economy, but only about 5 percent of global trade. A lot remains untapped. As we deepen our cooperation, our trade and investment will grow continuously and uplift our nations as well as our businesses. Together, our economies will work more efficiently. When factors of production move more easily between our countries and our industries are connected more closely, the cost of energy and other resources will go down, logistics will be faster, financial services will be more efficient, and more advanced technologies will give us strong impetus. The competitiveness and resilience of our economies will grow substantially, and our development will be more efficient and secure. Together, we will create more dynamic ecosystems of innovation. We are all outstanding innovators, each excelling in our own ways. Greater cooperation will enable our innovative talents to better learn from and complement one another, and provide first-class R&D support and rich application scenarios for innovation and creation to sow the seeds for more new industries and new forms of business. This will allow us all to stand taller in the global landscape of innovation.”
Third, he talked about China’s policy of focussing on high-quality development. Li said that:
“In terms of macro policies, facing risks and challenges from the external environment, we made clear that more proactive and effective macro policies will be implemented and that a more proactive fiscal policy and an appropriately accommodative monetary policy will be adopted. Fiscal expenditures hit a record high and the regulation of monetary and financial aggregates has been significantly strengthened, providing a strong underpinning for the expansion of aggregate demand. Going forward, we will continue to strengthen counter-cyclical adjustments in light of the changing circumstances. Whatever challenges lie ahead in the future, we have the capability and confidence to maintain the steady and long-term development of the Chinese economy. In terms of strategic goals, China is a super-sized economy that enjoys the unique strength of major economies, i.e., domestic demand is the main driver and domestic circulation is possible. We are increasingly placing our strategic priority on expanding domestic demand and strengthening domestic circulation with a view to enhancing the internal driving force of the Chinese economy. We have accelerated efforts to implement the strategy of expanding domestic demand and have launched special initiatives to boost consumption. As more policy resources are given to consumption, a huge demand potential will be unleashed. We are also further deepening reform comprehensively and accelerating the high-end, smart and green industrial transformation, which will create new, additional demand. The Chinese economy is of great breadth and depth, which can provide a huge market for quality products from all over the world. We will stay committed to expanding high-standard opening up, take more measures to advance voluntary and unilateral opening up, and enable domestic and international circulations to reinforce each other, so that companies across the world, including those from ASEAN and GCC countries, can fully share in the opportunity of China’s development.”
The full joint statement issued after the China-ASEAN-GCC summit is published on Page 2. Key points from the document are:
The three sides commit to explore cooperation in preventing and combating transnational crime, cybercrime, terrorism and extremism
The three sides expressed “serious concern over the situation in the Middle East and unanimously agree to:
“Condemn all attacks targeting civilians, call for lasting ceasefire, all relevant parties ensure restoration of electricity and water supply throughout Gaza, most effectively and conveniently obtain humanitarian aid, relief supplies as well as other basic necessities and basic services, allow unimpeded transportation of fuel, food and medicine; call on all parties to the conflict to protect civilians, avoid targeting civilians, and abide by international humanitarian law, especially the principles and provisions of the Geneva Convention relative to the Protection of Civilian Persons in Time of War concluded on August 12, 1949; recognise the advisory opinion issued by the International Court of Justice on July 19, 2024, including believing that the UN, particularly the UN General Assembly and Security Council that requested the advisory opinion, should consider specific modalities and further actions to end as soon as possible the illegal presence of the State of Israel in the Occupied Palestinian Territory; support current efforts made for the release of all hostages and arbitrarily detained persons; urge relevant parties to promote peaceful resolution of the conflict, based on international law, relevant resolutions of the UN Security Council and UN General Assembly, including the General Assembly Resolution A/RES/ES-10/23 on admission of new UN member states passed on May 10, 2024, to realise the ‘two-state solution’ based on 1967 borders; support the efforts made by the Global Alliance for the Implementation of the Two-State Solution, take note of the initiative jointly proposed by the Kingdom of Saudi Arabia together with Norway and the EU aimed at formulating a timetable for Palestinian independent statehood; recognise Qatar’s mediation efforts to achieve ceasefire and facilitate delivery of aid supplies, as well as China’s efforts to promote internal Palestinian reconciliation, particularly the role played in promoting the signing of the ‘Beijing Declaration on Ending Division and Strengthening Palestinian National Unity’ by Palestinian factions in Beijing in July 2024; welcome the resolution passed by the UN General Assembly on December 11, 2024, including calling for immediate, unconditional and permanent ceasefire in Gaza, calling upon all parties to empower the United Nations Relief and Works Agency for Palestine Refugees in the Near East, enabling it to fully perform its duties according to UN General Assembly authorisation, on the basis of full respect for the humanitarian principles of humanity, neutrality, impartiality and independence.” 十六、三方领导人就中东局势表达严重关切，一致认为：谴责所有针对平民的袭击，呼吁持久停火，所有相关方确保在加沙全境恢复电力和供水，最有效和便捷地获取人道主义援助、救援物资以及其他基本必需品和基本服务，允许畅通无阻地运送燃料、食品和药品；呼吁冲突各方保护平民，避免将平民作为目标，遵守国际人道主义法，特别是1949年8月12日缔结的《关于战时保护平民的日内瓦公约》的原则和规定；认可国际法院2024年7月19日发表的咨询意见，包括认为联合国，特别是提请发表咨询意见的联合国大会和安理会应当考虑具体模式和进一步采取行动，以尽快终止以色列国在巴勒斯坦被占领土的非法存在；支持当前为释放所有人质和被任意拘留人员所作的努力；敦促有关各方推动和平解决冲突，根据国际法、联合国安理会、联合国大会相关决议，包括2024年5月10日通过的关于接纳联合国新会员国的联大A/RES/ES-10/23号决议，以1967年边界为基础实现“两国方案”；支持落实“两国方案”国际联盟所作努力，注意到沙特阿拉伯王国同挪威、欧盟共同提出旨在制定巴勒斯坦独立建国时间表的倡议；认可卡塔尔为达成停火和便利援助物资运送所作调解努力，以及中方为促进巴勒斯坦内部和解所作努力，特别是为推动巴勒斯坦各派别2024年7月在北京签署《关于结束分裂加强巴勒斯坦民族团结的北京宣言》所发挥的作用；欢迎联合国大会2024年12月11日通过的决议，包括呼吁在加沙实现立即、无条件和永久停火，呼吁各方为联合国近东巴勒斯坦难民救济和工程处赋能，使其能够按照联合国大会授权，在充分尊重人道、中立、公正和独立的人道主义原则基础上全面履职.
The document identifies 8 priority areas for economic cooperation. These include:
Reaffirming the WTO’s “central and indispensable role in the rules-based multilateral trading system, providing a predictable, transparent, non-discriminatory and open international trading system.
Exploring cooperation in key areas of GDI and under the framework of various initiatives of ASEAN and GCC countries to accelerate the implementation of the UN 2030 Agenda for Sustainable Development
Promoting free trade. This references the China-ASEAN Free Trade Area 3.0 and the China-GCC Free Trade Agreement negotiations.
Strengthening the resilience of industrial chains and supply chains, promoting sustainable trade, and creating new economic opportunities in emerging and future industries such as digital and green economic technologies.
Exploring the establishment of a regional business council to promote tripartite business dialogue, strengthen trade and investment flows, and develop regional value chains
Exploring regional financial cooperation, including capital markets and financial technology, to empower the development of small and medium-sized enterprises
Exploring local currency and cross-border payment cooperation
Taking coordinated and comprehensive actions to prevent and combat corruption.
1、重申世贸组织在以规则为基础的多边贸易体制中发挥核心的、不可或缺的作用，提供了可预测、透明、非歧视和开放的国际贸易体系；2、在全球发展倡议重点领域以及东盟和海合会国家各类倡议框架下探讨合作，加快落实联合国2030年可持续发展议程；3、促进自由贸易，欢迎中国—东盟自贸区3.0版升级谈判全面完成，期待升级议定书早日签署和生效。期待中国—海合会自贸协定谈判早日完成；4、加强产业链供应链韧性，促进可持续贸易，在数字和绿色经济技术等新兴和未来产业创造新的经济机遇；5、探讨建立区域性商务理事会，促进三方企业对话，加强贸易投资流动，发展地区价值链；6、探讨包括资本市场和金融技术在内的地区金融合作，赋能中小微企业发展；7、探索本币和跨境支付合作；8、采取协调一致和全面行动，预防和打击腐败。
On energy security, the document talks about the need to:
Promote a sustainable, fair, affordable, inclusive and orderly energy transition in accordance with the Paris Agreement.
Support global energy market stability, balanced development of all types of energy, not excluding any energy, use innovative technologies to achieve carbon emission management and efficient utilisation of all energy, in order to promote inclusive sustainable economic growth.
According to international best practices, promote energy diversification, as well as supply chain security of critical minerals for global energy transition, encourage improvement of resource efficiency, while complying with applicable national laws and regulations.
Recognise the strategic significance of cooperation on stable, reliable and sustainable energy markets, in order to reduce volatility in energy supply and enhance energy supply security. Reaffirm the urgency of addressing climate change, and emphasise the importance of energy transition.
Explore new business opportunities including clean energy development;
Strengthen knowledge exchange and cooperation in renewable energy, green energy, carbon capture, utilisation and storage, biofuels, bio-liquefied natural gas, low-carbon hydrogen, low-carbon ammonia and sustainable fuels as well as energy efficiency policies, regulatory frameworks, technological innovation and other aspects, in order to align with each country's priorities.
Strengthen training and capacity building in nuclear safety, nuclear security and nuclear safeguards, reactor technology, nuclear and radioactive waste management, regulatory infrastructure as well as civil nuclear energy development and other fields, guided by International Atomic Energy Agency standards, guidelines and international best practices as well as advances in energy storage technology, support decision-making and policy formulation for civil nuclear energy.
Promote strategic development of initiatives in hydrogen and ammonia technology, oil and liquefied natural gas supply chains and infrastructure, upstream liquefied natural gas projects, methane emission reduction, etc., in order to support energy security and transition to cleaner fuels.
Encourage investment and cooperation between private capital and government sectors in energy infrastructure construction, including submarine cables and cross-border power transmission and other projects under relevant ASEAN, China and GCC initiatives, in order to promote multilateral electricity trade, strengthen regional energy connectivity, resilience and market integration, including through renewable energy generation and liquefied natural gas terminals.
Utilise new technologies, knowledge sharing, scientific practices, technology and training, as well as strengthen multilateralism and climate solidarity, promote cooperation in environmental sustainability fields such as climate action, disaster management, biodiversity conservation, marine environment monitoring, air and soil quality, industrial testing, pollution prevention and control.
Conduct joint research and innovation initiatives on emerging technologies such as direct air capture, enhanced geothermal systems, next-generation solar and wind energy, in order to support long-term energy sustainability and low-carbon solutions.
Share knowledge and best practices in the field of workforce green skills development, in order to support just transition to renewable energy.
认识到可持续韧性和能源转型的全球必要性，开展以下合作：1、依据《巴黎协定》，共同推进可持续、公正、可负担、包容和有序的能源转型；2、支持全球能源市场稳定，平衡发展各类能源，不将任何能源排除在外，使用创新技术实现所有能源的碳排放管理和高效利用，以促进普惠的可持续经济增长；3、依据国际最佳实践，促进能源多样化，以及全球能源转型关键矿产等供应链安全，鼓励提高资源效率，同时遵守适用的国家法律法规；4、认识到就稳定、可靠和可持续的能源市场开展合作，以减少能源供应的波动，增强能源供应安全的战略意义。重申应对气候变化的紧迫性，并强调能源转型的重要性；5、探索包括清洁能源开发在内的新商业机会；6、加强在可再生能源、清洁/绿色能源、碳捕集、利用和封存、生物燃料、生物液化天然气、低碳氢、低碳氨和可持续燃料以及能效政策、监管框架、技术创新等方面的知识交流与合作，以契合各国优先事项；7、加强在核安全、核安保与核保障、反应堆技术、核和放射性废物管理、监管基础设施以及民用核能发展等领域的培训和能力建设，以国际原子能机构的标准、指导方针和国际最佳实践以及能源储存技术的进步为指导，支持民用核能的决策和政策制定；8、推动氢和氨技术、石油和液化天然气供应链和基础设施、上游液化天然气项目、甲烷减排等倡议的战略发展，以支持能源安全和向更清洁燃料的转型；9、鼓励社会资本和政府部门在能源基础设施建设方面的投资和合作，包括在东盟、中国和海合会相关倡议下的海底电缆和跨境输电等项目，以推动多边电力贸易，加强区域能源联通性、韧性和市场一体化，包括通过可再生能源发电和液化天然气终端；10、利用新技术、知识分享、科学实践、技术和培训，以及加强多边主义和气候团结，在气候行动、灾害管理、生物多样性保护、海洋环境监测、空气和土壤质量、工业检测、污染防控等环境可持续领域促进合作；11、就直接空气捕获、增强型地热系统、下一代太阳能和风能等新兴技术开展联合研究和创新倡议，以支持长期能源可持续性和低碳解决方案；12、在劳动力绿色技能发展领域分享知识和最佳实践，以支持向可再生能源的公正转型.
The document also calls for cooperation in digital technologies, food and agriculture and people to people exchanges.
On page 2, there are reports on Li’s meetings with Cambodian Prime Minister Hun Manet and Vietnamese Prime Minister Pham Minh Chinh separately. Xinhua’s report on the Li-Hun meeting says:
“Li said that Chinese President Xi Jinping has lately paid a historic visit to Cambodia, during which both sides jointly announced the building of an all-weather China-Cambodia community with a shared future in the new era. China-Cambodia relations have once again taken the lead in building a community with a shared future for mankind, and the ironclad friendship between the two countries has been further deepened, he added. The Chinese premier called on China and Cambodia to respond to external uncertainties with the certainty of building a China-Cambodia community with a shared future, jointly promote their economic development and safeguard their common interests. China is willing to work with Cambodia to accelerate the synergy between high-quality Belt and Road cooperation and Cambodia’s Pentagonal Strategy, speed up the implementation of the cooperation plans for the Industrial Development Corridor and the Fish and Rice Corridor, and create more new highlights of cooperation and foster new areas for growth, Li noted. Encouraging more Chinese enterprises to invest in Cambodia, China is willing to strengthen cooperation with Cambodia in such areas as infrastructure, digital economy, advanced manufacturing and clean energy, he said. China and Cambodia have achieved positive results in recent joint efforts to combat cross-border crimes, Li said, calling for stronger and more effective measures to safeguard the safety and security of the two peoples. At present, the international situation is becoming more turbulent and chaotic, Li noted. China is willing to work with Cambodia and other countries in the region to strengthen solidarity and cooperation, jointly oppose unilateralism and power politics, safeguard international fairness and justice, uphold the multilateral trading system and maintain the stable and smooth flow of industrial and supply chains, so as to inject more positive energy into world peace, stability, prosperity and development, he said.”
Xinhua’s report on the Li-Pham Minh Chinh report is rather brief. The key part of Li’s remarks is this:
“Noting that the current international situation sees an increasing number of destabilizing and uncertain factors, Li said that China will remain committed to opening-up and development, and looks to strengthen communication and cooperation with Vietnam, jointly uphold international fairness and justice, safeguard the global economic and trade order, and protect the common interests of the Global South countries.”
Now, I can cover page-wise.
Page 1: There’s a report on Xi Jinping’s letter to the ninth national congress of the Chinese Young Pioneers. Xi wrote:
“Children and the youth are the main force of the future for advancing the great cause of building a strong country and national rejuvenation, and the Young Pioneers is the great school for the healthy growth of children and the youth. On the new journey, the Young Pioneers should hold high the team flag and follow the Party, focus on the fundamental task of cultivating successors for communism, aim at fostering qualified builders of the cause of socialism with Chinese characteristics, and educate and guide the broad mass of Young Pioneers to strive to be good youths of the new era who love the Party and love the country, are diligent in study, and develop in an all-rounded way. It is necessary to comprehensively strengthen the Party’s leadership over Young Pioneers’ work, consolidate the responsibility of the Communist Youth League organization for the whole League to lead the team, create a good environment and conditions for the healthy growth of children and juveniles, and promote the Young Pioneers cause to continuously achieve new results.” 少年儿童是推进强国建设、民族复兴伟业的未来生力军，少先队是少年儿童健康成长的大学校。新征程上，少先队要高举队旗跟党走，聚焦培育共产主义接班人的根本任务，着眼于培养中国特色社会主义事业合格建设者，教育引领广大少先队员争当爱党爱国、勤奋好学、全面发展的新时代好少年。要全面加强党对少先队工作的领导，夯实共青团组织全团带队责任，为少年儿童健康成长创造良好环境和条件，推动少先队事业不断取得新成绩。
Another report covers Wang Huning’s remarks at the Second Cross-Strait Chinese Culture Summit. The report says:
Wang said that General Secretary Xi Jinping has emphasised that Chinese culture is the spiritual lifeline of the Chinese nation and is the common spiritual homeland of compatriots on both sides of the strait. The Chinese nation and Chinese culture make every son and daughter of China feel proud, and the common bloodline, common culture, and common history endow compatriots on both sides of the strait with common responsibility for the nation … Wang said that Chinese culture is the root and soul of Chinese people on both sides of the strait, and patriotism is the national soul of the Chinese nation. We must persist in cultural confidence, jointly inherit the spirit of Chinese culture, jointly shoulder the great historical responsibility, and unite in the struggle to realise the great rejuvenation of the Chinese nation. We must jointly promote Chinese cultural exchanges, devote ourselves to promoting exchange and cooperation in various fields across the strait, and promote spiritual harmony between compatriots on both sides of the strait. We must carry forward the great national spirit with patriotism as its core, guard the common homeland of the Chinese nation, and jointly create enduring welfare for the Chinese nation. Wang said that this year marks the 80th anniversary of the victory of the Chinese people’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, and is also the 80th anniversary of Taiwan's restoration. We must jointly persist in the one-China principle and the ‘1992 Consensus’, resolutely oppose ‘Taiwan independence’ secessionism, and unwaveringly advance the great cause of national reunification. We must jointly stand firm on the Chinese cultural position, join hands to respond to external challenges, and firmly grasp the national destiny in the hands of the Chinese people themselves.” 王沪宁表示，习近平总书记强调，中华文化是中华民族的精神命脉，是两岸同胞共同的精神家园。中华民族、中华文化让每一个中华儿女都为之感到骄傲，共同的血脉、共同的文化、共同的历史赋予两岸同胞对民族的共同责任。举办海峡两岸中华文化峰会，对推动两岸共同光大中华文化、共同续写中华民族历史新辉煌很有意义。王沪宁表示，中华文化是两岸中国人的根和魂，爱国主义是中华民族的民族魂。我们要坚持文化自信，共同传承中华文化精神，共担历史大任，为实现中华民族伟大复兴而团结奋斗。我们要共同推动中华文化交流，致力于促进两岸各领域交流合作，促进两岸同胞心灵契合。我们要弘扬以爱国主义为核心的伟大民族精神，守护中华民族共同家园，共创中华民族绵长福祉。王沪宁表示，今年是中国人民抗日战争暨世界反法西斯战争胜利80周年，也是台湾光复80周年。我们要共同坚持一个中国原则和“九二共识”、坚决反对“台独”分裂，坚定不移推进祖国统一大业。我们要共同站稳中华文化立场，携手应对外部挑战，把民族命运牢牢掌握在中国人自己手中.
Finally, there’s a report (English report) informing that profits of China’s major industrial firms increased 1.4 percent year on year in the first four months of the year, up from a rise of 0.8 percent in the first quarter, data from the National Bureau of Statistics (NBS) showed. In April alone, profits grew 3 percent compared to the same period last year…Profits increased in nearly 60 percent of major industrial sectors, with 23 out of 41 categories posting year-on-year profit growth, the NBS said. The equipment manufacturing sector played a key role in driving the recovery. As China deepens its push for industrial upgrading, the sector has seen sustained improvement in profitability. From January to April, profits in equipment manufacturing rose 11.2 percent year on year, up 4.8 percentage points from the first quarter. The sector contributed 3.6 percentage points to overall profit growth among large industrial firms. High-tech manufacturing also recorded faster growth, with profits rising 9 percent year on year during the period. The ongoing shift toward high-end manufacturing fueled profit increases of 24.3 percent in biopharmaceuticals and 27 percent in aircraft manufacturing…Profits in semiconductor equipment manufacturing more than doubled, while integrated circuit producers saw a 42.2 percent increase. Smart technology manufacturers also delivered strong performances, with profits in in-vehicle smart devices, unmanned aerial vehicles and wearable tech rising by 177.4 percent, 167.9 percent and 80.9 percent, respectively. China’s large-scale equipment upgrades and consumer goods trade-ins also provided a strong boost to profit growth. Specifically, the profits of special-purpose equipment and general-purpose equipment makers increased by 13.2 percent and 11.7 percent, respectively.”
Page 2: There’s a brief report informing that ILD chief Liu Jianchao meeting with former Nepal president Bidya Devi Bhandari, former French PM Édouard Philippe and Aktam Akhmadovich Khaitov, Chairman of the Movement of Entrepreneurs and Businessmen – Liberal Democratic Party of Uzbekistan.
Page 6: Shi Taifeng’s speech at the Young Pioneers meeting is published on the page. No prizes for guessing that he didn’t talk about trophy wives. Anyway, here’s an interesting excerpt:
“Young Pioneers! Under the combined efforts of the whole Party and people of all ethnic groups throughout the country, in another ten years, by 2035, our country will basically realise socialist modernisation, and at that time you will be in your twenties, in the prime of your youth; by the middle of this century, our country will build a socialist modernised strong country, and at that time you will be in your thirties, in the prime of life with abundant energy. I hope you will keep in mind General Secretary Xi Jinping’s teachings, and in line with the requirements of being successors to communism, strive to become good youth of the new era who love the Party and love the country, are diligent in study, and develop in an all-round way.” 少先队员们！在全党全国各族人民共同努力下，再过十年，到2035年，我国将基本实现社会主义现代化，那时你们二十来岁、正值青春年华；到本世纪中叶，我国将建成社会主义现代化强国，那时你们三十来岁、正值年富力强。希望你们牢记习近平总书记的教导，按照共产主义接班人的要求，争当爱党爱国、勤奋好学、全面发展的新时代好少年.
To be a good youth of the new era, one must inherit the red genes. Realising the building of a strong country and national rejuvenation is the dream of generations of Chinese people, and a historical relay race. The red scarf is a corner of the red flag, dyed with the blood of revolutionary martyrs. I hope you will study Young Pioneers’ history, cherish the honour of the Young Pioneers, listen to the Party and follow the Party from a young age, love the Party, love the motherland, love the people, love socialism, learn from revolutionary martyrs, heroic figures, model workers, and role models in all walks of life, receive the baton well, and be red children of the Party and the people. —做新时代好少年，就要传承红色基因。实现强国建设、民族复兴是一代又一代中国人的梦想，更是一场历史接力赛。红领巾是红旗的一角，是革命先烈的鲜血染成的。希望你们学习少先队历史、珍惜少先队光荣，从小听党话、跟党走，热爱党、热爱祖国、热爱人民、热爱社会主义，向革命先烈、英雄人物、劳动模范和各行业的先锋榜样学习，接好接力棒，做党和人民的红孩子.
To be a good youth of the new era, you must inherit the Chinese cultural lineage. Chinese culture has a long history; the Chinese nation has a cultural history of 10,000 years and a civilisation history of over 5,000 years. This is the deepest and most precious spiritual wealth of the Chinese nation. It is hoped that you will love the excellent traditional Chinese culture, cultivate virtue from it, enrich your knowledge, enhance your confidence, draw strength, let the Chinese cultural lineage merge into your spiritual lifeblood, understand from a young age ‘what makes China, China’, and from a young age cultivate the ambition, backbone, and inner strength of being Chinese, practice the core socialist values, and be guardians and inheritors of Chinese civilization. —做新时代好少年，就要传承中华文脉。中国文化源远流长，中华民族有着一万年的文化史、五千多年的文明史。这是中华民族最深厚、最宝贵的精神财富。希望你们热爱中华优秀传统文化，从中涵养美德、丰富知识、增强自信、汲取力量，让中华文脉融入精神血脉，从小懂得“何以中国”，从小培养做中国人的志气、骨气、底气，践行社会主义核心价值观，做中华文明的守护者、传承人.
To be a good youth of the new era, you must inherit the spirit of struggle. Those who are diligent welcome spring early; there are no shortcuts in growing up, and all beautiful futures are created through struggle. Knowledge is the foundation of struggle, the body is the capital of struggle, and tenacity is the annotation of struggle. You are like little saplings, needing to be nurtured with soil and water, and also pruned and shaped. It is hoped that you will not only focus on learning knowledge and broadening your horizons, but also on exercising your body and tempering your will, not bow your head when facing difficulties, not become arrogant when achieving results, promptly make up for shortcomings when discovered, and grow upright, strong, and well from a young age. 一做新时代好少年，就要传承奋斗精神。人勤春来早，成长无捷径，一切美好的未来都靠奋斗去创造。知识是奋斗的基石，身体是奋斗的本钱，坚韧是奋斗的注脚。你们就像一棵棵“小树苗”，需要培土浇水，也要修枝整叶。希望你们既注重学习知识、增长见识，又注重锻炼身体、锤炼意志，遇到困难不低头，取得成绩不骄傲，发现短板及时补，从小长得正、长得壮、长得好.
Page 14: Two reports of disciplinary actions against key officials. First, Luo Zengbin, former member of the Standing Committee of the CPC Hainan Provincial Committee and secretary of the CPC Haikou Municipal Committee, has been expelled from the Communist Party of China and his positions.
Likewise, Ma Fengsheng, Vice Chairman of the Qinghai Provincial Committee of the CPPCC, has been expelled from the Party and removed from public office.