Stimulating the Economy - Wang Yi's AI, GDI & BRICS Pitches - Wang Meets 'Old Friend of the Chinese People' Muhammad Yunus - China on Hopes for Ties with US - Boosting Medium & Long-term Capital
Here are the key reports and articles that I found noteworthy from the People’s Daily’s edition on Friday, September 27, 2024.
Page 1: The lead story on the page is the readout from the Politburo’s meeting on the economy. I covered this in yesterday’s edition. Before I get to other reports, let me highlight the following:
First, this really helpful graphic from Hutong Research. It lists the efforts at cash infusion.
Second, this Reuters report summarises the steps being taken.
On the heels of the Politburo huddle, China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of fresh fiscal stimulus, two sources with knowledge of the matter have told Reuters.
On Tuesday by Governor Pan Gongsheng, the People's Bank of China on Friday trimmed the amount of cash that banks must hold as reserves, known as the reserve requirement ratio (RRR), by 50 basis points, the second reduction this year. The move is expected to release 1 trillion yuan ($142.5 billion) in liquidity into the banking system and was accompanied by a cut in the benchmark interest rate on seven-day reverse repurchase agreements by 20 bps to 1.50%.
Reuters reported on Thursday that 1 trillion yuan due to be raised via special bonds will be used to increase subsidies for a consumer goods replacement programme and for the upgrade of large-scale business equipment. They will also be used to provide a monthly allowance of about 800 yuan, or $114, per child to all households with two or more children, excluding the first child.
China also aims to raise another 1 trillion yuan via a separate special sovereign debt issuance to help local governments tackle their debt problems.
Third, today the PBOC has cut the interest rate of seven-day reverse repos from 1.7 percent to 1.5 percent.
Xinhua reports that the interest rate of 14-day reverse repos and those of temporary repos and reverse repos will continue to be determined by the interest rate of seven-day reverse repos in the open market, and the range of adjustment will remain unchanged. The interest rate of 14-day reverse repos and those of temporary repos and reverse repos will continue to be determined by the interest rate of seven-day reverse repos in the open market, and the range of adjustment will remain unchanged. The central bank conducted 278 billion yuan (about 39.66 billion U.S. dollars) of 14-day reverse repos on Friday at an interest rate of 1.65 percent, 20 basis points lower than the previous day. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. The central bank also announced a cut in the reserve requirement ratio by 0.5 percentage points for financial institutions on Friday.
Okay, now back to the paper. The other main story is Xi Jinping’s letter to the faculty and students of the Communication University of China on the occasion of its 70th anniversary. Xinhua reports:
“Xi urged the university to take solid steps to implement the fundamental task of fostering virtues and educating people on the new journey in the new era. He emphasized the importance of focusing on the needs of the press and public communication, highlighting the university’s distinctive features, deepening reform and innovation, and continuously improving its teaching and research capacity, in a bid to cultivate more high-caliber journalism and communication professionals and make new contributions to the development of the Party’s cause concerning public communication and culture.”
Next, there’s a report on Wang Huning’s meeting with Tanzila Narbayeva, chairperson of the Senate of Uzbekistan. Xinhua says:
Wang said that “under the guidance of the two heads of state, the development of China-Uzbekistan relations has entered a new stage with fruitful cooperation in various fields. Following the important consensus reached by the two heads of state, China is ready to work with Uzbekistan to push for steady and long-term growth of the bilateral ties, Wang said. Wang noted that the CPPCC National Committee is willing to strengthen exchanges and cooperation with Uzbekistan to better serve the construction of their respective countries and the development of bilateral relations.”
Among other things, Narbayeva said that Uzbekistan adheres to the one-China principle.
Next, there’s a report on Ding Xuexiang meeting with Nepal’s Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel in Beijing. Xinhua reports:
Ding “said that China and Nepal -- two nations linked by mountains and rivers -- have enjoyed lasting friendship, setting a fine example of equality and mutual benefits between countries of different sizes. He said that under the strategic guidance of the leaders of the two countries, China is ready to work with Nepal to deepen exchange and cooperation in various fields, build a high-quality Belt and Road, consolidate popular support for the bilateral friendship, and push China-Nepal relations to a higher level. Paudel said that Nepal abides firmly by the one-China principle, supports China steadfastly in safeguarding its core interests, and hopes to strengthen its exchange of governance experience with China and deepen practical cooperation in various fields.”
Paudel also met with He Lifeng earlier. PTI reports that:
“He assured Paudel that the Chinese government would accelerate the execution of previously announced projects, according to a press release issued by the Nepal Finance Ministry. The Communist Party leader also requested assistance from the northern neighbour in expanding direct air services from various Chinese cities to Bhairahawa and Pokhara international airports…The two leaders discussed about advancing key infrastructure projects being implemented with China's assistance, such as the construction of the Kerung-Kathmandu railway, the Tokha-Chhahare tunnel, the Kimathangka-Hile and Hilsa-Surkhet-Bhurigaun roads, Madan Bhandari Science and Technology University, and Damak Industrial Park. Chinese leader He underscored the importance of implementing the agreements to further strengthen the bilateral ties and also expressed his desire to expedite the development projects including infrastructure, transport and connectivity.”
Next, there is a long article celebrating Xi’s leadership of China’s modernization drive. The piece refers to him as the people’s leader. Also, there is another long article detailing the “record of the Party Central Committee with Comrade Xi Jinping as the core in promoting the strengthening of the sense of community of the Chinese nation.”
Page 3: Okay, back to Wang Yi in the US. Let me begin with his speech at the BRICS foreign ministers meeting. Wang called the BRICS the “leading force of the Global South”, which must work towards “promoting an equal and orderly world multipolarization and inclusive economic globalization.”
“We must advocate common security and achieve lasting peace. In today's interdependent world, mankind is an indivisible security community. No country has the right to manipulate the global security agenda, let alone build its own security on the insecurity of other countries. We must make good use of mechanisms such as the BRICS Foreign Ministers’ Meeting and the Meeting of High Representatives for Security Affairs to strengthen coordination on international and regional hotspot issues and jointly address various challenges. On the Ukraine issue, we must insist on preventing the spillover of conflict, avoiding the escalation of warfare, and preventing any party from fueling the fire. The crisis should be resolved through dialogue and negotiation. Brazil and China jointly issued the ‘Six-Point Consensus’, which has received positive responses from more than 100 countries to varying degrees. On the Palestinian issue, China stands firmly with Arab countries. We must promote a comprehensive and lasting ceasefire in Gaza as soon as possible, support Palestine to become a formal member of the United Nations, implement the ‘two-state solution’, and achieve lasting peace in the Middle East.” 我们要倡导共同安全，实现持久和平。在国与国相互依存的今天，人类是不可分割的安全共同体。任何国家都无权操控全球安全议程，更不应将本国安全建立于他国的不安全之上。我们要用好金砖国家外长会晤、安全事务高级代表会议等机制，就国际地区热点问题加强协调，携手应对各类挑战。乌克兰问题上，我们要坚持战场不外溢、战事不升级、各方不拱火，以对话谈判解决危机。巴西和中方联合发表了“六点共识”，已得到100多个国家不同程度的积极回应。巴勒斯坦问题上，中方坚定同阿拉伯国家站在一起。我们要推动加沙尽快全面、持久停火，支持巴勒斯坦成为联合国正式会员国，落实“两国方案”，实现中东地区持久和平.
We must prioritise development and solve development problems. Development is the eternal theme of human society and an important yardstick of progress in the era. President Xi Jinping proposed the GDI, which has been actively supported by the United Nations and the vast majority of developing countries. The BRICS should give full play to its own advantages, promote the development issue to be placed at the centre of the United Nations’ work, pay attention to the practical difficulties of developing countries, urge developed countries to earnestly fulfil their commitments, and inject stronger impetus into the 2030 Agenda for Sustainable Development. We should focus on the urgent needs of developing countries in poverty reduction, development financing, energy and food security, seize the opportunities of scientific and technological revolution and industrial transformation, and cultivate new momentum for high-quality development. 我们要坚持发展优先，破解发展难题。发展是人类社会的永恒主题，是时代进步的重要标尺。习近平主席提出全球发展倡议，得到联合国和广大发展中国家积极支持。金砖要发挥自身优势，推动将发展问题置于联合国工作中心位置，关注发展中国家的现实困难，敦促发达国家切实履行承诺，为2030年可持续发展议程注入更强动力。要聚焦发展中国家在减贫、发展筹资、能源和粮食安全等方面迫切需求，抢抓科技革命和产业变革机遇，培育高质量发展新动能.
We must uphold multilateralism and improve global governance. When multilateralism is under attack, the world falls into chaos. When hegemonic behaviour runs rampant, human civilization regresses to the law of the jungle. We must firmly uphold the international system with the United Nations at its core and adhere to the purposes and principles of the UN Charter, opposing the practice of using multilateralism only when it is convenient and abandoning it when it is not. Taking the implementation of the outcomes of the Summit of the Future as an opportunity, we should promote reforms in the international financial architecture, support the full participation of southern countries in international economic decision-making, governance, and rule-making, and enhance their voice and representation. The resolution on Enhancing International Cooperation on Capacity-building of Artificial Intelligence jointly proposed by China and many southern countries has been overwhelmingly approved by the UN General Assembly, and we welcome BRICS countries to participate in its implementation so that developing countries can broadly benefit. 我们要践行多边主义，完善全球治理。多边主义遭受冲击，世界就会乱象丛生。霸道霸凌行径肆虐，人类文明将倒退到丛林法则。我们必须坚定维护以联合国为核心的国际体系，秉持联合国宪章的宗旨原则，反对搞“合则用，不合则弃”。要以落实未来峰会成果为契机，推动国际金融架构改革，支持南方国家全面参与国际经济决策、治理和规则制定，提升发言权和代表性。中方和许多南方国家共提的“加强人工智能能力建设国际合作”决议已获联大高票通过，欢迎金砖国家共同参与落实，使发展中国家能够广泛受益.
He then talked about supporting Russia in hosting the BRICS summit in October. He also called to ‘create new landmark achievements in the fields of finance, artificial intelligence, energy and minerals to ensure that the BRICS+ cooperation can get off to a good start. We must also accelerate the completion of the work of setting up partner countries. This is the consensus reached by BRICS leaders at last year’s Johannesburg Summit, and it is also the mission we should accomplish. Continue to open the door for expansion, to add vitality and momentum to BRICS development.” 下个月，金砖即将迎来扩员后的首次峰会，举世瞩目、意义重大。我们要支持俄罗斯当好东道主，把握好这一契机，通过金砖峰会向世界发出维护公平正义、促进共同发展的时代强音。要在金融、人工智能、能源矿产等领域打造新的标志性成果，确保“大金砖合作”能够开好局、起好步。我们也要加紧完成设置伙伴国工作，这是去年约翰内斯堡峰会上金砖领导人达成的共识，也是我们应当完成的使命，继续敞开扩员大门，为金砖发展添活力、增动力.
If you are wondering what are the BRICS’ specific processes and criteria for expansion, here is the document agreed upon in 2023.
Next, Wang’s speech at an event called “Global Development Initiative Supports the Global South -- China in Action”. Wang said:
“over the past three years since the inception of the GDI, it has evolved from a Chinese proposition to an international consensus, and from a cooperation concept to joint actions, contributing China's solutions and injecting Chinese strength into the implementation of the United Nations’ 2030 Agenda for Sustainable Development…We held a High-level Dialogue on Global Development, a ministerial meeting of the Group of Friends of the Global Development Initiative, and two Global Shared Development Action Forums, effectively building consensus on international development cooperation and promoting all parties to recommit to and start again on the Sustainable Development Goals.” 三年来，在习近平主席亲自擘画和各方共同努力下，全球发展倡议从中国主张到国际共识、从合作理念到共同行动，为落实联合国2030年可持续发展议程贡献了中国方案，注入了中国力量...我们召开全球发展高层对话会，举行“全球发展倡议之友小组”部长级会议，举办两届全球共享发展行动论坛，有效凝聚国际发展合作共识，推动各方对可持续发展目标再承诺、再出发.
Then Wang put forward some data around GDI.
Over the past three years, more than 100 countries and more than 20 international organizations have actively supported and participated in the Initiative, and 82 countries have joined the Friends of GDI group. More than 70 countries and international organizations have joined the Global Development Promotion Center Network, more than 50 parties have signed cooperation documents on GDI with China, and the United Nations has established a GDI Promotion Working Group.100多个国家和20多个国际组织积极支持和参与倡议，82个国家加入“之友小组”。70多个国家和国际组织加入全球发展促进中心网络，50多方同中方签署倡议合作文件，联合国成立了倡议推进工作组.
We have invested and mobilised nearly $20 billion in various development funds, established more than 30 cooperation platforms in eight key areas, established a global development promotion center, and are actively preparing to build a ‘Global South Research Center. The initiative mobilises development resources and incubates cooperation platforms to help the Global South get on the fast track of development. 我们已投入并动员各类发展资金近200亿美元，在八大重点领域搭建起30多个合作平台，成立全球发展促进中心，正积极筹建“全球南方”研究中心。倡议动员发展资源、孵化合作平台，助力“全球南方”驶上发展快车道。
The 32 outcomes of the High-Level Dialogue on Global Development have been mostly implemented, and over 1,100 projects have been initiated under the framework of the initiative, with over 600 projects already in operation within the Global Development Project Pool (if you are interested to learn how a project gets included, here are CIDCA’s guidelines). Moreover, we have organized over 2,000 capacity-building projects for developing countries, training more than 60,000 talents in various fields. From technical cooperation to capacity building, from poverty alleviation and education to the digital economy, from high-yield rice to fungus grass processing, the cooperation under the initiative has deepened and materialized, bringing benefits to the Global South. 我们推进倡议行动见实效、项目暖人心。全球发展高层对话会32项成果已基本落实，倡议框架下已开展1100多个项目，全球发展项目库已实施超过600个项目。我们还为发展中国家举办2000多期能力建设项目，培训各类人才6万多名。从技术合作到能力建设，从减贫教育到数字经济，从高产水稻到菌草加工，倡议合作日益走深走实，为“全球南方”带来福祉.
Third, Wang Yi’s speech at the High-level Conference on International Cooperation on AI Capacity Building. Wang called for:
comprehensive and balanced governance of AI
openness without building walls, interconnection without decoupling, equality without discrimination, and working together to create an open, inclusive, inclusive, and non-discriminatory environment for the development of AI, so that the dividends of AI can benefit all countries. He added that AI should not and cannot be reduced to a tool for maintaining hegemony and pursuing superiority.
establishing an AI governance mechanism with universal participation from all countries under the UN framework, so that all countries can participate and benefit equally. Using one's own values as the only criterion for judgement will only artificially create differences and obstacles, and will not be conducive to mankind working together to meet new challenges.
一要坚持全面平衡。人工智能治理涉及伦理价值、安全治理、标准规范、能力建设和机制机构等各个方面，应秉持系统思维全面平衡推进，加强对接协调，构建人工智能全球治理框架。厚此薄彼或选择性的做法既不可取，也不可行。二要坚持公平普惠。人工智能是人类的共同财富，要坚持开放而不筑墙、互通而不脱钩、平等而不歧视，携手打造开放、包容、普惠、非歧视的人工智能发展环境，让人工智能红利惠及所有国家。人工智能不应也不能沦为维护霸权、追求优势的工具。三要坚持多边主义。世界上只有一个体系，只有一套规则，联合国是其核心。要在联合国框架下建立各国普遍参与的人工智能治理机制，让各国平等参与、平等受益。以自身价值观作为唯一评判标准，只会人为制造分歧与障碍，不利于人类携手应对新挑战.
He then made five areas of China’s work:
China is willing to cooperate with all countries, especially developing countries, in building AI infrastructure and advancing the global layout of interoperable AI and digital infrastructure.
China is willing to carry out AI models development and empowerment cooperation, build an international cooperation platform for AI capacity building, build an open source AI community in a responsible manner, and build a rich, diverse, healthy and benevolent AI development ecosystem in accordance with local conditions.
China will organize short-term education and training on AI capacity building for developing countries, AI knowledge and expertise through a combination of online and offline methods. We will organize 10 AI training and seminar programs for developing countries by the end of 2025.
China is willing to work with all countries, especially developing countries, to jointly develop AI corpora, promote and improve data infrastructure, promote and protect the diversity of civilizations, and promote fair and inclusive use of global data.
China is ready to collaborate with all parties to strengthen strategic alignment and policy exchanges on AI, actively sharing policy and technical practices in AI testing, evaluation, certification, and regulation, and jointly addressing AI ethics and safety risks.
第一，促进人工智能和数字基础设施联通。中方愿同各国特别是发展中国家开展人工智能基础设施建设合作，推进完善全球可互操作的人工智能和数字基础设施布局。第二，推进“人工智能+”赋能千行百业。中方愿开展人工智能模型研发和赋能合作，搭建人工智能能力建设国际合作平台，以负责任态度共建人工智能开源开放社区，因地制宜构建丰富多样、健康向善的人工智能发展生态。第三，加强人工智能素养和人才培训。中方将面向发展中国家举办人工智能能力建设中短期教育培训，以线上线下相结合方式推广人工智能科普和专业知识，共享人工智能知识成果和经验。我们将于2025年底前重点面向发展中国家举办十期人工智能领域研修研讨项目。第四，提升人工智能数据安全和多样性。中方愿同各国特别是发展中国家共同开展人工智能语料建设，促进和完善数据基础设施，促进和保护文明多样性，推动全球数据公平普惠利用。第五，确保人工智能安全可靠可控。中方愿同各方共同加强人工智能战略对接和政策交流，积极分享在人工智能测试、评估、认证与监管方面的政策与技术实践，共同应对人工智能伦理与安全风险。为推进有关联大决议和普惠计划落实，中方倡议成立“人工智能能力建设国际合作之友小组”，欢迎各国积极支持和参与。
China proposes the establishment of a ‘Group of Friends for International Cooperation on AI Capacity Building’ and welcomes all countries to actively support and participate. During this meeting, China announced the AI Capacity-Building Action Plan for Good and for All. The full document is available in English.
Fourth, Wang Yi’s meeting with Sergei Lavrov. Wang said that the experience of China-Russia ties shows that “as long as we adhere to permanent good-neighborly friendship, comprehensive strategic cooperation, and mutually beneficial cooperation and win-win results, China-Russia relations will move forward…Both sides should continue to hold high the banner of multilateralism, defend the purposes and principles of the UN Charter, and promote the building of a more just and reasonable global governance system with the United Nations at its core. China will fully support Russia in playing its role as the BRICS chair, ensure the complete success of the Kazan Summit, and open up a new situation for BRICS+ cooperation.”
They also talked about the upcoming 75th anniversary of the establishment of diplomatic relations.
Wang also met with Ukrainian Foreign Minister Andrii Sybiha. Wang told him that:
“China has always advocated the peaceful settlement of disputes and advocated that all hotspot issues should be resolved politically through dialogue, and the same is true for the Ukrainian issue. China does not engage in geopolitical games or pursue its own self-interests, but has always actively promoted peace and negotiations, working to build consensus for peace. China has always paid attention to the humanitarian situation in Ukraine, has provided four batches of humanitarian assistance to Ukraine, and is willing to provide new assistance according to Ukraine’s needs. We hope that Ukraine will continue to take effective measures to ensure the safety of Chinese personnel and institutions in Ukraine. We are willing to maintain communication with all parties, including Ukraine, and continue to do what China believes is right to strive for peace at an early date.” 中国历来主张和平解决争端，主张所有热点问题都应通过对话寻求政治解决，在乌克兰问题上同样如此。我们从不搞地缘博弈，从不谋求私利，始终积极劝和促谈，为和平凝聚共识。中方一直关注乌克兰人道主义局势，已向乌提供了四批人道主义援助，并愿意根据乌方需要提供新的帮助。希望乌方继续采取有效措施，确保中方在乌人员和机构的安全。我们愿同包括乌克兰在内的各方保持沟通，继续做中方认为正确的事情，争取早日实现和平.
While on this, do check out Politico’s reporting on a Ukrainian assessment of Wang’s agenda at the UNGA. The report says:
“China wants to work behind the scenes at the United Nations to enlist international support for an agreement to end the war in Ukraine on terms favorable to Russia, according to a Ukrainian government document. The Chinese government came into this week’s U.N. General Assembly with a plan to seek support from countries in Latin America, Asia and Africa that would freeze battle lines in the deadliest conflict in Europe since World War II, according to the document obtained by POLITICO. The U.S. is opposed to the deal and Ukrainian officials are alarmed by it — so much so that they have circulated the document among diplomats gathered in New York for the UNGA. In its proposal, China is trying to persuade diplomats to support peace talks focused on “taking into account the security interests of each country” with the objective of “preventing Russia from losing” the war, according to the document. The paper, which was drafted by the Ukrainian government ahead of this week’s high-level U.N. meetings, does not say how Kyiv is aware of China’s strategy. Ukraine is also pushing on multiple fronts this week to dissuade allies from embracing the China-backed plan. Ukraine’s U.N. mission in New York did not respond to a request for comment on the document. Beijing’s game plan in New York involves enlisting the support of some two dozen countries “to form some kind of ‘core’ group which in the future can quickly expand [to include] other countries in Africa, Latin America and Asia,” the document said. China seeks their endorsement for its plan to initiate peace talks between Russia and Ukraine based around a China-Brazil joint six-point proposal released in May. That document urges “no expansion of the battlefield, no escalation of fighting and no provocation by any party.” That would allow Russia to continue hostilities at their current intensity as well as its occupation of Ukrainian territory. The six-point proposal hinges on “an international peace conference … recognized by both Russia and Ukraine.”
Also noteworthy part in the report is this bit:
“China’s pursuit of India’s support could create particular trouble for Ukraine. Kyiv has been hoping that New Delhi may help broker a peace pact it can live with. The Indian embassy in Washington declined to comment.”
Meanwhile, another interesting Politico report said this week that:
Ukraine has found its favored middleman to help end the war with Russia: Indian Prime Minister Narendra Modi…A high-ranking Ukrainian official, granted anonymity to discuss the sensitive subject, confirmed that India was Kyiv’s big hope to reach a peace pact it can live with. According to the official, Modi was clear in summertime discussions with Kyiv that — while Ukraine would inevitably need to compromise on some things to end Moscow's onslaught — any proposals to end the war should not include giving up territory to Russia. Modi, in Kyiv's eyes, has come a long way in a short time. When he visited Moscow in July and warmly embraced Russian President Vladimir Putin, the response from Kyiv was scathing. Zelenskyy called the hug — on the same day a Russian missile strike killed dozens of Ukrainians — “a huge disappointment and a devastating blow to peace efforts.” But since then, Ukraine has come to increasingly view India — the world’s most populous nation, which has long promoted non-alignment in its foreign relations — as its ideal intermediary in dealings with the Kremlin. While New Delhi has consistently refrained from condemning Russia’s invasion of Ukraine, it has spoken in support of respecting sovereignty and territorial integrity, and ending the war. Six weeks after his Moscow trip raised Ukrainian hackles, Modi traveled to Kyiv to meet with Zelenskyy. He vowed to be “a friend” to Kyiv and help bring about a peace deal. India may be the only global power player that can play the role — or at least the only one able to credibly portray itself as a neutral party to both Moscow and Kyiv.
Another noteworthy report is about Wang’s comments on Security Council reform. This was part of a dialogue between the P5 and C10 countries from Africa. Wang made three points:
Effectively increase the representation of Global South countries, allow more developing countries, especially small and medium-sized countries including African countries, to participate in Security Council decision-making, enhance the authority and efficiency of the Security Council, and promote the development of international order towards a more just and reasonable direction. The Security Council cannot become a club for big countries or rich countries, let alone an arena for political confrontation. We must effectively change the imbalance between North and South in the composition of the Security Council and the over-representation of developed countries.
We must anchor the reform path of giving priority to special arrangements for Africa. The Security Council structure with insufficient representation of Africa is hardly reasonable, and correcting this injustice requires creativity. Last year, President Xi Jinping took the lead in announcing that China supports making special arrangements for the priority resolution of Africa’s demands, which has led to just calls in support for Africa’s demands. China is willing to work with Africa and all parties to jointly explore the implementation path of the special arrangements for Africa’s priority.
We must support the main channel status of the General Assembly’s Security Council reform intergovernmental negotiations. The Security Council reform intergovernmental negotiations are the only platform authorized by the General Assembly and widely recognized by member states. We should jointly maintain the intergovernmental negotiation platform where everyone can sit down and talk, and continuously accumulate and expand the consensus of the international community.
一要坚持提升发展中国家代表性和发言权。切实提高“全球南方”国家代表性，让包括非洲国家在内更多发展中国家特别是中小国家参与安理会决策，提升安理会权威和效率，推动国际秩序朝着更加公正合理方向发展。安理会不能成为大国或富国俱乐部，更不能成为搞政治对抗的角斗场。要切实改变安理会组成南北失衡、发达国家代表性过剩的局面。二要锚定对非洲作出优先特殊安排的改革路径。非洲代表性不足的安理会架构难言合理，纠正这一不公须具有创造性。习近平主席去年率先宣布中方支持就优先解决非洲诉求作出特殊安排，带动了支持非洲诉求的正义呼声。中方愿同非方和各方一道，共同探讨对非优先特殊安排的落实路径。三要支持联大安改政府间谈判的主渠道地位。安改政府间谈判是唯一得到联大授权、获得会员国广泛认可的平台。要共同维护好政府间谈判这个大家都能坐下来谈的平台，不断积累扩大国际社会的共识.
Wang also met with Nepali PM KP Oli. The readout says:
“China has always placed Nepal in an important position in its peripheral diplomacy and is committed to building a closer China-Nepal community with a shared future. Next year will be the 70th anniversary of the establishment of diplomatic relations between China and Nepal. The two sides should take this opportunity to promote the joint construction of the BRI and other cooperation to bear more fruit and benefit the people of the two countries… China will, as always, support Nepal in safeguarding its sovereignty, independence and territorial integrity, and hopes that Nepal will find a successful development path that suits its national conditions. He appreciated Nepal’s repeated reiteration that it will not allow any forces to use Nepal’s territory to engage in anti-China activities. China has granted zero tariff treatment to 100% of items imported from all least-developed countries that have diplomatic relations with China, which will facilitate more Nepali specialty products entering the Chinese market. China welcomes Nepal’s announcement in China of 2025 as the ‘Nepal Tourism Year’ and is willing to work with Nepal to plan a series of events to promote cultural exchanges.”王毅表示，中方将一如既往支持尼方维护主权、独立和领土完整，希望尼方找到符合本国国情的成功发展道路，赞赏尼方多次重申不允许任何势力利用尼泊尔领土从事反华活动。中国决定给予所有同中国建交的最不发达国家100%税目产品零关税待遇，将便利更多尼泊尔特色产品进入中国。欢迎尼方在华宣布2025年为“尼泊尔旅游年”，愿同尼方共同规划系列活动，促进人文交流.
Oli reportedly said: “The Nepali government, all political parties and people support Nepal-China friendship, firmly adhere to the one-China policy, and will not allow anyone or any force to use Nepal's territory to engage in anti-China activities. Nepal is committed to strengthening cooperation with China, building a Nepal-China community with a shared future, and sharing development and prosperity.” 尼政府、各党派和人民都支持尼中友好，坚定奉行一个中国政策，不会允许任何人任何势力利用尼泊尔领土从事反华活动。尼方致力于加强对华合作，共建尼中命运共同体，共享发展繁荣.
In addition, Wang met with Muhammad Yunus, leader of the interim government of Bangladesh. The Chinese readout has Wang calling Yunus “an old friend of the Chinese people” and saying that “I believe that you will live up to the expectations of the people and lead Bangladesh to overcome difficulties and challenges and return to the right track of unity, stability, development and prosperity as soon as possible.” 王毅转达了中国领导人对尤努斯的亲切问候。王毅说，你是中国人民的老朋友，当年创立小额信贷模式，致力于减少贫困，这同中国共产党以人民为中心的执政理念高度一致。习近平主席指出，江山就是人民，人民就是江山。相信你将不负人民期待，带领孟加拉国克服困难挑战，早日重回团结稳定和发展繁荣正轨.
China and Bangladesh share a traditional friendship, and the people of both countries have deep amicable feelings for each other. China is willing to work with Bangladesh to promote this traditional friendship, strengthen political mutual trust, deepen cooperation in jointly building BRI, and push forward the comprehensive strategic cooperative partnership between the two countries. China is also willing to expand cooperation in areas such as agriculture, poverty alleviation, and new energy based on Bangladesh’s needs, and strengthen exchanges on governance, reform, and opening-up experiences to support Bangladesh’s economic and social development. The two sides can strengthen cooperation in international and regional affairs to safeguard the common interests of developing countries. 王毅说，中国和孟加拉国传统友好，两国人民之间有着友好感情。我们愿同孟加拉国一道，弘扬传统友谊，巩固政治互信，深化共建“一带一路”合作，推动两国全面战略合作伙伴关系不断向前发展。中方愿根据孟方需要，拓展农业、扶贫减贫、新能源等领域合作，加强治国理政和改革开放经验交流，助力孟经济社会发展。双方可加强在国际地区事务中的合作，维护发展中国家共同利益.
Yunus reportedly said: “both Bangladesh and I personally have long-standing friendly connections with China. China has created miracle after miracle in human history, especially achieving unprecedented accomplishments in poverty alleviation, which is deeply admirable. Bangladesh is willing to learn from China's experience and continuously expand friendly cooperation between the two countries. On behalf of all the people of Bangladesh, I would like to thank China for sending medical personnel to Bangladesh to treat injured students.” 尤努斯说，孟加拉国和我本人都同中国有着长久的友好联系。中国开创了人类历史上一个又一个奇迹，尤其是脱贫事业取得了前无古人的成就，令人深感钦佩。孟方愿学习中国经验，不断扩大两国友好合作。愿代表孟加拉国全体人民，感谢中国派医护人员赴孟救治学生伤员.
Finally, Wang met with American representatives from the National Committee on United States-China Relations, the US-China Business Council, the US Chamber of Commerce, the Aspen Institute, the Asia Society, and the Council on Foreign Relations. Wang told them that:
“This year marks the 45th anniversary of the establishment of diplomatic relations between China and the United States. After nearly half a century of ups and downs, the most important revelation is that the two countries should be partners, not adversaries; they should help each other succeed rather than engage in vicious competition; and they should keep their word and follow through, rather than saying one thing and doing another. President Xi Jinping cares deeply about and attaches great importance to China-US relations. Based on profound reflection on the lessons learned, he has proposed the three principles of mutual respect, peaceful coexistence, and win-win cooperation, which are the fundamental guidelines for China’s approach to US relations. In contrast to China's stable and consistent policy towards the US, the US often sends mixed signals and presents two different faces in its China policy. The root cause lies in the inability of some in the US to view and accept China’s development objectively. The US needs to recognize that China also has the right to develop, and that China’s development is an opportunity for both the US and the world, rather than a challenge. 王毅阐述了中方对中美关系的看法。王毅表示，今年是中美建交45周年。历经近半个世纪的波澜起伏，最重要的启示就是，两国应该做伙伴，而不是当对手；应该彼此成就，而不是恶性竞争；应该言必信、行必果，而不是说一套、做一套。习近平主席关心和重视中美关系，他在深刻总结中美关系经验教训基础上，提出相互尊重、和平共处、合作共赢三原则，是中方看待和发展中美关系的根本遵循。同中方对美政策保持稳定和连续性相比，美方对华却常常是两种声音、两副面孔。根源在于美国一些人始终不能客观看待和接受中国的发展。美方需要认识到，中国也有发展的权利。中国的发展对美国、对世界都是机遇而不是挑战.
Wang Yi said that during his visit to New York for the UN General Assembly, he sensed the widespread concern over the international situation, with many hoping for greater unity and coordination among major powers to shoulder their responsibilities. As permanent members of the UN Security Council and the world’s two largest economies, China and the US should first strive for stable, healthy, and sustainable development of their bilateral relationship. They should also work with the international community to address the numerous global challenges emerging today. China-US relations are an evolving process that requires continuous dialogue and communication to eliminate unnecessary misunderstandings and misjudgments. Wang Yi expressed hope that people of insight from various sectors in the US would contribute to these efforts, foster an objective and rational understanding of China, enhance mutual understanding and trust, and help improve and develop China-US relations. 王毅说，此次来纽约出席联大，深感各方对国际形势非常担忧，都期待大国加强团结协调，承担应尽的责任。中美作为安理会常任理事国和世界前两大经济体，首先要力争中美关系实现稳定健康可持续发展，还应同国际社会一道，应对好当今世界层出不穷的全球性挑战。中美关系是一个发展演进的过程，需要持续不断地对话沟通，消除不必要的误解误判。希望美国各界有识之士都能为此做出努力，树立客观理性对华认知，增进彼此理解信任，为中美关系改善发展做出贡献.
Wang reportedly responded to questions about “questions about China's economy, the Taiwan issue, the Ukrainian crisis, Sino-Russian relations, the South China Sea issue, the Korean Peninsula, and AI.”
Moving on from Wang Yi’s engagements. Minister of Public Security Wang Xiaohong held “candid, professional and pragmatic exchanges” with US Department of Homeland Security Secretary Alejandro Mayorkas on Wednesday. Xinhua says:
“Wang said that the two sides earnestly implement the important consensus of the two heads of state, adhere to mutual respect, dispute management and mutually beneficial cooperation, and have achieved many visible outcomes in areas such as drug control, repatriation of illegal immigrants and cooperation on individual cases. China is willing to maintain communication with the U.S. at all levels, and push for steady and long-term law enforcement cooperation between the two countries. The U.S. side should attach importance to addressing China's concerns, demonstrate sincerity with concrete actions, and remove obstacles for deepening cooperation, Wang noted. The two sides agreed to stay in communication on important issues in the field of law enforcement.”
Page 6: There’s a report informing that the NDRC and the Xi Jinping Economic Thought Research Center hosted the 2024 Annual Conference on Deeply Studying and Practising Xi Jinping’s Economic Thought. I am not detailing this, but NDRC’s Zheng Shanjie and Han Wenxiu, deputy director of the Office of the Central Financial and Economic Affairs Commission, spoke at the meeting.
Page 10: There’s a report on a new guideline to promote the market entry of medium and long-term capital. Xinhua reports:
“The guideline, issued by the office of the Central Financial Work Commission and the China Securities Regulatory Commission, is designed to streamline the entry of capital from social security funds, insurance and wealth management into the market. Key measures outlined include the development of a market environment that encourages long-term investments and the improvement of the quality of publicly listed companies. The guideline advocates the expansion of public equity funds and supports the stable development of private equity investment funds. Additionally, the guideline seeks to refine policies and institutions that facilitate the entry of diverse medium and long-term capital. It aims, among other things, to significantly increase the scale and proportion of medium and long-term capital investments, create a more balanced structure of capital market investors, strengthen the long-term nature of investment behaviors, and enhance the inherent stability of the market, while steadily improving investor returns.”
Also, another report informs that in August, there were 23,210 cases of violations of the eight-point central regulation. These involved 33,696 people.