Chinese scientists have reported diffusion-induced lithium isotopic heterogeneity in olivines from peridotites of an oceanized mantle lithosphere the Tibetan Yunzhug ophiolite (central Xizang). The study supports that seawater lithium diffusion is one of the important factors for the heterogeneity of mantle lithiumi isotopes in ophiolites, the Global Times learned from the Institute of Tibetan Plateau Research (ITP), Chinese Academy of Sciences on Thursday.

The findings were published on Monday in the journal Scientific Reports under Nature, providing new insights into the interactions between different layers of the Qinghai-Xizang Plateau during geological history and serving the national strategic needs for mineral resources, according to a statement from the institute.

The study was conducted by a team led by researcher Shi Rendeng from the ITP. Using in-situ lithium isotope analysis of minerals, the team systematically analyzed lithium concentrations and isotopic compositions of olivines in the oceanized subcontinental lithospheric mantle (SCLM) peridotites and they suggest that the behavior of lithiumi in the oceanized SCLM peridotites may be controlled by lithium diffusion from seawater, aslithiumi activity in the liquid state is higher than the solid state in transporting lithium through the olivines in the peridotites.

Shi told the Global Times that in recent years, lithium isotope systems have been widely used in the study of mantle peridotites. Previous studies showed that the heterogeneity of mantle lithium isotope composition is mainly controlled by deep geological processes. The research team selected mantle peridotites from the vanished Tethys Ocean residue in the Tibetan Plateau as the research object, according to Shi.
The lithium isotopic composition (δ7Li) in the mantle is about 0.2 percent, while δ7Li in seawater is heavier, with a value of about 3.1 percent. In the study, Shi's team found that the closer to the edge of the olivine grains, the more distinct the seawater lithium isotope characteristics; while the closer to the center of the olivine grains, the more distinct the mantle lithium isotope characteristics, revealing that lithium element from seawater enter olivine through diffusion.

The majority of data points is distributed along the binary mixing curve of seawater and continental mantle, indicating that the lithium isotope characteristics in the samples are controlled by both seawater and continental mantle, according to the study.

The study also found that lithium isotopes undergo strong fractionation at temperatures lower than 350 ℃ and quickly reach homogeneity at high temperatures, indicating that high-temperature geological processes are not the ultimate factor causing changes in lithium isotopic composition. During the continental rifting process, mantle peridotites gradually rise and are exposed on the seafloor. Seawater infiltrates into the still relatively hot mantle peridotites. At this stage, mantle peridotites have enough energy to support lithium element from seawater to diffuse into olivine, with very low lithium isotope fractionation, preserving the seawater lithium isotope characteristics in olivine, according to the study.

From a high altitude overlooking Tong'an Bay in Xiamen, East China's Fujian Province, patches of greenery are embedded like emeralds in the azure sea on both sides of the bay's top bridge. Walking on the plank road in the Xiatanwei Mangrove Park, the largest artificially reconstructed mangrove-themed ecological park in Fujian, with the tide rising wave after wave, the mangrove forest gently sways, showcasing a successful example of ecological restoration in Xiamen Bay.

Lin Yongsheng, 55, grew up in Qiongtou village by Tong'an Bay. In his childhood memories, the bay area was just a muddy wasteland, with oysters hidden in rock cracks. Villagers would fish and dig for oysters, and later, aquaculture gradually developed. "Wastewater was discharged into the sea, and the wild mangroves became fewer," he told the Global Times.
Mangroves are a general term for woody plant communities that grow in the intertidal zone of tropical and subtropical coastlines. They are named after their red bark, which is rich in tannic acid. Mangroves can not only prevent wind and waves, but also purify seawater, providing habitats for fish, shrimp, and birds. They are known as the "coastal guardians" and "oceanic green lungs."

In recent years, the mangrove ecosystem has been facing a global decline in both its area and function. According to a report by the United Nations Environment Programme released in April 2023, the global mangrove coverage has decreased by 3.4 percent since 1996, resulting in a net loss of 5,245 square kilometers. Furthermore, the risk of the extinction of 44 percent of mangrove-related species is increasing.

The rapid degradation of the mangrove ecosystem, coupled with the invasion of marine disasters such as typhoons and storm surges, has severely impacted the ecological environment in the Xiatanwei sea area and the coastal economic development. Data show that from 2001 to 2010, an average of 2.5 red tides occurred each year in the Tong'an Bay area.

In 2005, Xiamen made a determination to carry out mangrove ecological restoration. A research team from Xiamen University came to cultivate and plant a 100-acre experimental forest.

Yu Yanfeng, the project construction leader of the Xiamen Ocean Development Bureau, told the Global Times that since 2010, Xiamen has implemented mangrove ecological restoration in stages. In the first phase, measures such as retiring and clearing beaches, dredging waterways, building embankments, and planting mangroves were taken to restore 44 hectares of mangroves. The main tree species include Avicennia marina, Bruguiera gymnorhiza, and Excoecaria agallocha. In the second phase, an additional 36 hectares of mangroves were planted, including Bruguiera gymnorhiza, Avicennia marina, Excoecaria agallocha, and Kandelia candel. By 2020, the total area of mangrove ecological restoration in Xiatanwei had reached 404 hectares, including 180 hectares of retired and cleared beaches, 85 hectares of planted mangroves, 4.5 kilometers of shoreline improvement, and 7 kilometers of dredged waterways.
As the mangroves thrive, the Tongan bay's ecosystem is reshaped. According to the latest research data from Xiamen University and Jimei University, the number and biomass of fish, shellfish, and crustacean species in the mangrove restoration area have increased compared to before the restoration. The total number of species has increased by 2.4 times, and the biomass has increased by 2.99 times, 4.76 times, and 1.19 times respectively. The "forest-mudflat-ocean" community and the ecological barrier of mangroves are becoming more stable, and the ecological vitality and resilience of the coastal zone continue to strengthen.

Peter Thomson, the UN Secretary-General's special envoy for the ocean has visited the park twice and cited it as a model for mangrove restoration in speeches around the world.

Since its opening, Xiatanwei Mangrove Park has attracted up to 50,000 visitors in a single day. Lin found employment as a security guard in the park, fulfilling his duty right at his doorstep.

Today, the Xiatanwei Mangrove Park has been developed into an urban park that combines environmental protection, scientific research, popular science education, and recreational sightseeing. It has become a new calling card for Xiamen, a high-quality, international, and modern garden city.

In 2023, China witnessed remarkable achievements in scientific and technology area despite of comprehensive competition pressure and unreasonable containment from the US-led West. China's first domestically made passenger plane C919 takes maiden commercial flight; China's first domestic large cruise ship sets sail; China launches Shenzhou-17 manned spaceship for new challenging works; China's gigantic telescope builds world's largest neutral hydrogen catalog; and world's largest single capacity offshore wind turbine gets successfully installed… In the past year, China's technological innovation has achieved new breakthroughs, with each blockbuster project stunningly appearing.

In 2023, China's comprehensive ranking of innovation capability has risen to the 10th place, up three places from 2022 - the only developing country to enter the top 15, according to the National Innovation Index Report 2022-2023, released by the Chinese Academy of Science and Technology for Development (CASTED) on November 21, 2023.

The wonders of the sky are coming thick and fast in 2023. In 2023, China Space Station (CSS) entered a new phase of application and development, which will span more than 10 years, with the Tianzhou-6 cargo spacecraft, Shenzhou-16 manned spacecraft, and Shenzhou-17 manned spacecraft successively launched.

The launch of the Shenzhou-17 manned spacecraft coincides with the 20th anniversary of China's first successful manned spaceflight mission. Over the past 20 years, China's manned space launch missions have witnessed 30 victories, from short-term stays to medium and long-term residencies, from in-cabin experiments to spacewalks. China's aerospace industry continues to take new strides in high-level technology.

The good news in aviation is also coming in. On May 28, 2023, C919, China's self-developed large passenger aircraft, completed its first commercial flight. It creates a milestone in China's aviation industry, which aims to compete with global players such as Boeing.

It is important proof of China's strength in self-innovation in the high-end manufacturing industry, and its solid market performance will foster further confidence in future orders and among customers, Chinese experts said.

Moreover, in December 2023, using the Five-hundred-meter Aperture Spherical Radio Telescope (FAST), or the "China Sky Eye," a team of Chinese astronomers built the largest-ever high-quality catalog of neutral hydrogen (HI) sources beyond our Galaxy.

Hydrogen, the most abundant element in the universe, is a key component of galaxies. Within disk galaxies, the HI is a significant component of the interstellar medium.

The measurement of its abundance and kinematics via the 21-centimeter emission line could potentially address a number of astrophysical issues, such as the possible properties of dark matter, faint unknown galaxies, as well as the cosmic structure and evolution, the Xinhua News Agency reported.

Miracles and breakthroughs are also happening at sea level across the year.

China's first domestically made large cruise ship, named Adora Magic City, left a port in Shanghai on January 1, 2024, for its commercial maiden voyage, a development that experts said marks a breakthrough for China's high-end manufacturing and international cooperation.

It enhances the international status of China's shipbuilding industry, injecting new vitality into China's cruise sector, and shows Chinese industry's open attitude in international cooperation, experts said.

It's the world's most complex single electromechanical vessel with more than 25 million parts, about five times the number of individual parts used in China's first domestic aircraft, the C919.

In more than three years of construction, the project team made three crucial tech breakthroughs, on weight control, vibration and noise reduction, and the vessel's safe return to port.

Also, China's first sea-spanning high-speed railway capable of a top speed of 350 kilometers per hour started service in East China's Fujian Province in late September. The line shortens the travel time between Fuzhou and Xiamen to at most 55 minutes in a bid to enhance the connectivity between the two major cities in the province.

The railway was designed using the latest modeling technology based on digital information, which realized the integrated management of high-speed railway's design, construction and operation.

The BeiDou Navigation Satellite System, intelligent robots and environmentally friendly materials were adopted to facilitate the construction of cross-sea bridges. An intelligent command and dispatch system is used to ensure trains stay on schedule and operate efficiently. A big data analysts system can monitor and report all potential weather disasters, ensuring the safe operation of each train on the route.

Last but not least, the experimental advanced superconducting tokamak (EAST), or the Chinese "artificial sun," achieved a steady-state high confinement plasma operation for 403 seconds on April 12, 2023, a key step toward the development of a fusion reactor.

The breakthrough, achieved after more than 120,000 attempts, greatly improved the original world record of 101 seconds, which was set by EAST in 2017.

The ultimate goal of EAST, located at the Institute of Plasma Physics under the Chinese Academy of Sciences (ASIPP) in Hefei, is to create nuclear fusion like the sun, using substances abundant in the sea to provide a steady stream of clean energy.

Looking back at 2023, the breakthroughs in the field of science and technology forged new drivers and advantages for future development. It represents the Chinese wisdom that China contributes to the future development of humanity. China is also proving to the world that it is capable and confident in bringing more discoveries and breakthroughs to the world in 2024.

As the largest sports event in the South Pacific, the Pacific Games which is set to open on Sunday have abundant Chinese elements, including the sports venues built with Chinese assistance, athletes who have trained in China, and the Chinese police and medical team that ensure the safety of the athletes during the games.

The 17th Pacific Games will be held from November 19 to December 2 in Honiara, capital of the Solomon Islands, and will see the participation of over 5,000 athletes from 24 countries and regions in the South Pacific. This is also the first large-scale sports event held by the Solomon Islands since its independence in 1978.

The islanders are eagerly looking forward to sharing with the world their newly constructed sports center, which was a project aided by China.

The 2023 Pacific Games Stadium Project consisted of seven separate project components, with the main venue being a 10,000-seat National Stadium complex with a full-size football and rugby field and running tracks that comply with international standards. The project also has a swimming pool, a six-court tennis center, a five-a-side hockey field and a multi-purpose hall.

Paul Dere has worked on the project with China Civil Engineering Construction Corporation since it began two years ago, and now he serves as a local manager. Inside the azure sports complex, he told the Global Times, "I feel immensely proud, and everyone around me is excited about this stadium."

Meanwhile, an additional 10-member Chinese police force dispatched for the Games arrived in Honiara on November 12. They will assist with the installation and commissioning of security equipment and will maintain the safety of the event alongside local police during the Games, the Global Times learned.

Previously, on October 30, a handover ceremony for the security equipment provided by China to the Solomon Islands for the Pacific Games took place at the Solomon Islands police headquarters.

Months beforehand, at the request of the Solomon Islands government, China arranged for 80 Solomon Islands athletes and coaches to undergo three months of training in Southwest China's Sichuan Province. And at the end of October, nine Chinese coaches went to the Solomon Islands for 40 days of intensive pre-game training and competition guidance.

The Global Times learned from the Chinese medical team assisting the Solomon Islands that doctors from the acupuncture department will take turns on duty at the multi-functional clinic for the Games, providing athletes and other staff with traditional Chinese medical care such as acupuncture, cupping, and massage for health and recovery.

Ding Yonghua, Chargé d'Affaires of the Embassy of the People's Republic of China in Solomon Islands, told the Global Times that China's support for the Solomon Islands in hosting the 17th Pacific Games includes both hardware and technical aspects, moral guidance, and practical support. This is part of the comprehensive strategic partnership between the two countries, a true reflection of being good friends and brothers, and a vivid practice of building a community with a shared future for humanity.

"China believes that the Solomon Islands will fulfill the dream of generations by hosting a splendid, green, and safe Pacific sports event, leaving a valuable legacy for the development, revitalization, and national unity of the Solomon Islands," he said.

China and the Solomon Islands established diplomatic relations in September 2019, and their relationship has developed rapidly since then.

Manasseh Sogavare, Prime Minister of the Solomon Islands, told the Global Times in a previous interview in August that in the past four years, significant developments have occurred in the country. "Notably, a case in point is the infrastructure for the upcoming Pacific Games, with the investment totaling over $1 billion," he said.

Yu Lei, a researcher at the Pacific Island Countries Research Center of Liaocheng University, told the Global Times that China's economic aid, infrastructure assistance and technical support to the Solomon Islands have played an important role in helping the Solomon Islands develop its economy, improve people's livelihoods, increase employment, and raise living standards.

From October 26 to 28, the British Council participated in the 24th China Annual Conference for International Education and Expo (CACIE 2023) as a CACIE Honorary Partner, and hosted two sub-forums on higher education: "From Study to Work: Global Talent Mobility and Development" and "English Teaching and Assessment to Enhance International Understanding Education in Secondary Schools." 

The former focused on the current trends and challenges of talent cultivation and mobility in the context of international education, while the latter addressed the hot topic of international understanding education in the K12 sector. 

"Through the two forums, we shared our insights on the mobility and development of Chinese students abroad, and introduced our comprehensive assessment solutions and ecosystem value chain from study to work, represented by the British Council's IELTS test. We were also honored to invite our partners, top universities and enterprises from home and abroad, to share their best practices and explore how to better support the lifelong growth and development of international education in China," said You Zhuoran, director of examinations at the British Council China. 

Giving prosthetics real feeling and controllable with mind, or treating epilepsy, Alzheimer's, depression, Parkinson's and other neurological disorders, can be realized through the brain-computer interface (BCI) technology, evolving with deep cross-fertilization of life sciences and information technology.

BCI refers to the establishment of communication and control channels for direct interaction between human brain and external devices. That is to say, through BCI, the fantasy of human beings controlling external objects with their minds may become a reality.

A research team at Tsinghua University recently published the details of cases in which two paralyzed patients regained a degree of movement through wireless, minimally invasive BCIs. At the end of January, Tesla CEO Elon Musk announced that his brain-chip startup Neuralink implanted brain chip in a sick man.

All these seem to indicate that the concepts that once existed in science fictions are moving from academic exploration to practical use. As the future industry is on the way, how is China's progress in this cutting-edge technology? How will BCI change people's lives?

The concept of the BCI has been around for more than 50 years, and research in China has been underway for more than 20 years.

Evolving technology

During a meeting held by China's Brain-Computer Interface Industrial Alliance on Monday, a number of experts and industry insiders discussed the country's BCI technology results as well as development prospects.

According to the way of neural signal acquisition, BCI can be divided into two categories: invasive and non-invasive. The former implant the electrodes directly into the patient's cerebral cortex through surgery, and the latter can be done without surgery by directly attaching the electrodes to the scalp.

"The country strongly supports the future technologies including meta-universe, humanoid robots, BCI and quantum computing. In terms of the noninvasive BCI, I am confident to say that China has achieved self-resilience, ranging from the concept to technology including electrode chip and algorithm," Gao Xiaorong, a professor of Tsinghua University engaging in the BCI for 20 years, told the Global Times on the sidelines of the meeting.

China and the US run different technology routes in BCI, but the final application scenarios are the same, Gao said, adding that China and some European countries mostly research non-invasive BCI while the US focuses on invasive BCI.

"Our team has always been guided by the principle of altruistic sharing, so we are completely open to international cooperation for mutual benefit," Gao said.

Lü Baoliang, a professor from Shanghai Jiao Tong University, told the Global Times that China now plays a leading role in some researches on non-invasive BCI for emotional treatment such as depression.

According to an article published by an Italian university in 2022, two subsets of the emotional electroencephalogram dataset "SEED," made public by the university in 2015, are being used more than 50 percent worldwide; while the DEAP dataset, published by the EU in 2012, is used 27 percent of the time worldwide, Lü noted.

"At present, the research and development in BCI has continued to explore a variety of fields, including bionics, medical diagnostics and intervention, consumer electronics and virtual reality," Wu Xia, a professor from Beijing Normal University, told the Global Times.

Wu noted that non-invasive BCI technology is well suited for industrial safety monitoring and is expected to improve industrial productivity. "In addition, the technology has the potential to improve machine efficiency through brain-controlled machinery, and to improve human efficiency through skills training such as instrument operation and equipment driving."

New growth driver

During the meeting, Liu Bochao, an official from the Ministry of Industry and Information Technology (MIIT), said that the BCI is an important track to cultivate new engine for economic development, create a new driver for economic growth and develop new quality productive forces in China.

The MIIT has laid out a batch of future industries represented by the BCI, in order to seize the opportunity of the development of new-generation information technology.

"Some basic researches of BCI industry like basic electrodes, core storage and high-grade algorithms have to be carried out by the so-called 'national team,' including national scientific research institutions, national medical centers, and large state-owned technology enterprises," Wang Changming, an associate researcher at the Beijing-based Xuanwu Hospital, told the Global Times during the conference.

However, relying on the "national team" does not mean that private enterprises only play a small role. It is clinical to define clear functional requirements for BCI products as well as standards, Wang said, expecting that there will be a lot of BCI products to emerge in the second half of this year.

The 2024 Government Work Report delivered by the State Council, the cabinet, noted that China will strive to modernize its industrial system and develop new quality productive forces at a faster pace. The report listed a series of tasks, including industrial and supply chain improvement and upgrade, and the cultivation of emerging industries and future-oriented industries such as hydrogen power, new materials, bio-manufacturing, commercial spaceflight, quantum computing and life sciences.

China accounted for 35 percent of global patent applications for non-implantable acquisition and sensing technology, the Xinhua News Agency reported. By 2040, the comprehensive market size of China's BCI industry is expected to exceed 120 billion yuan ($16.68 billion), according to a report by QbitAI, an industry services platform focusing on artificial intelligence and the BCI technology.

To further boost the healthy development of the BCI industry, Chinese experts noted that the country ought to improve relevant laws and regulations and provide more support to the private enterprises, which will help promote the coordinated development of the industry.

The “three requirements” that India government is reportedly asking of Chinese smartphone makers operating in the Indian market, are not something that a country governed by the rule of law or a market-oriented economy would do, industry analysts said.

According to India’s Economic Times, the Indian government wants Chinese smartphone companies to appoint Indian nationals to run the management and administration of local plants. New Delhi also wants the companies to appoint Indian distributors to localize their distribution structure in India. Starting next month, Vivo will replace its agents in some states of India with Indian distributors, according to local media reports.

The third requirement is for Chinese companies to use local contract manufacturers. According to a recent report of the Economic Times, Oppo, Vivo, and Realme have started, or are in the process of starting, smartphone manufacturing with Indian contract manufacturers.

A source familiar with the situation in India told the Global Times that Chinese smartphone brands are shifting their production to local Indian companies. "Changing distributors to Indian companies should also be true," the source said.

Another industry expert, who spoke on condition of anonymity, told Global Times that Chinese smartphone companies are seeking to make India an important production and export hub in order to expand their exports to neighboring countries and continue to maintain their overseas market advantage.

"This may be why the Indian government is confident that these Chinese companies will accept New Delhi’s so-called localization demands," the insider noted.

The Indian government has been cracking down on Chinese smartphone makers, citing allegations of tax evasion and money laundering. They are also making stringent demands on many Chinese companies.

In June, Chinese smartphone makers were asked to appoint Indian nationals to hold positions including the chief executive officer, chief operating officer, chief financial officer, and chief technical officer, the Business Standard reported.

The Indian government's crackdown on foreign companies, including Chinese companies, shows a clear intention to achieve localization, or put it more concisely, is a government-led “robbery” out of foreign enterprises, Lin Minwang, a research fellow at the Center for South Asian Studies, Institute of International Studies at Fudan University, told the Global Times.

"This short-sighted approach will ultimately undermine India's economic openness and the image of the Modi government's commitment to economic development," Lin said.

Real estate companies that are seriously insolvent should be handled according to market-based principles and rule of law, either subject to bankruptcy or restructuring as appropriate, China's housing minister said on Saturday, pledging measures to promote the stable and healthy development of the real estate market.

Although the task of stabilizing the real estate market remains challenging, there is still great potential and room for growth in China's real estate sector. Development of the real estate market should be viewed from a medium and long term perspective, rather than short term perspective, Ni Hong, minister of housing and urban-rural development, told a press conference on Saturday during the ongoing two sessions.

"We believe that as long as we have confidence, respect the rules, and persist in solving problems as they arise, we can promote the stable and healthy development of the real estate market," Ni said.

This year's Government Work Report noted that China will refine real estate policies and meet justified financing demands of real estate enterprises under various forms of ownership on an equal basis, so as to promote the steady and healthy development of the real estate market.

Regarding measures to ensure stable and healthy development of the real estate sector, Ni emphasized focusing on stabilizing the market with city-specific policies, defusing risks, and promoting transformation of the sector.

In defusing risks, the financing needs, a prominent issue facing real estate enterprises, of all companies of different ownership types will be supported equally, Ni noted.

To meet the reasonable financing needs of real estate companies, a whitelist coordinating mechanism has been established covering 312 prefecture-level cities and above across China, Ni briefed.

From the reported whitelist projects, more than 6,000 have been completed, with 82 percent of these projects by privately-owned enterprises and mixed-ownership enterprises. As of the end of February, the approved loans through commercial banks have exceeded 200 billion yuan, according to Ni.

While pledging measures to meet the rational funding needs of real estate companies, the minister also emphasized the importance of continuing to strengthen supervision.

In 2023, faced with the individual real estate companies' funding chain breaking, the real estate market adjustment and other challenges, the ministry, together with relevant departments, have introduced a series of policy measures, securing the bottom line of preventing systemic risks, Ni said.

For behaviors from housing developers that harm the interests of the public, they should be resolutely investigated and punished according to law, making them pay the due price, the minister stressed.

The threshold for China's individual income tax exemption should be raised to ease pressure on middle- and low-income earners and propel domestic consumption and economic recovery, according to Dong Mingzhu, a prominent entrepreneur and deputy to the National People's Congress (NPC).

The current monthly individual income tax cutoff point is 5,000 yuan ($694.6), enacted in 2019. Dong's motion suggests it be raised to 8,000 yuan or 10,000 yuan.

Dong, chairwoman of Chinese home appliance giant Gree Electric Appliances, has been calling for raising of the individual income tax threshold for many years, while also optimizing the progressive tax rates, in order to extend more tax reduction benefits to the low and middle-income groups.

During a recent media interview with the Southern Metropolis Daily, Dong reiterated that she will continue to ask for raising the individual income tax threshold at the NPC session this year, given the cutoff point remaining at 5,000 yuan for many years. "Now it's high time the threshold needs to be hiked," Dong said.

Dong has been elected as an NPC deputy for five consecutive terms, ever since 2003. Data reveals that her past motions proposed during the annual two sessions have consistently focused on raising the individual income tax threshold.

Zhang Xuewu, another NPC deputy and chairman of Yanjin Shop Food Co, took the side of Dong by putting forward a motion asking the individual income tax threshold be raised to 8,000 yuan to increase household income for ordinary people while boosting broad consumer confidence in the country.

"In 2024, sustaining economic recovery hinges on restoring and expanding consumer demand, which entails implementing effective measures to ramp up residents' disposable income and their confidence to consume," Zhang said.

Their motions have triggered heated debate among netizens, and raising individual income tax threshold has quickly been trending on Weibo, China's social media platform, gaining over 62,000 likes and 3,400 comments as of press time.

There is a groundswell of support for the motions among Chinese netizens, who uttered that raising income tax threshold is necessary and imperative which will greatly benefit low-income groups and help them cope with life burden.

Editor's Note: While China's economy is undergoing a crucial transformation and upgrade amid the current complex international environment, Western propaganda machines persist in attempting to undermine China's economic progress by creating biased and inaccurate narratives. To counter these false claims, the Global Times is publishing a series of articles that unveil the reality of China's consistent economic development.

During the upcoming two sessions, China is expected to announce this year's targets for GDP growth, as well as consumer prices, employment and other economic metrics. Taking into account the goals announced at recent provincial-level two sessions, it is anticipated that China's 2024 economic growth target may be set at about 5 percent.

The potential growth rate of the Chinese economy is estimated to be 5.5 percent. In my opinion, setting the target at 5-5.5 percent and striving to reach the potential growth rate will be more conducive to fully utilizing economic resources. 

In the long run, a higher economic growth target for 2024 will also prepare China to achieve its long-term objectives through 2035. To achieve these long-range visions, an average annual growth rate of 4.7 percent is needed. In the past few years, due to factors such as the COVID-19 pandemic, the country's average growth rate did not reach this level. Until 2030, the annual growth rate should exceed 5 percent.

A higher economic growth target will also boost market sentiment. Setting this year's GDP growth rate at higher than the 5.2 percent actual rise for 2023, will send a clear signal that the priority this year is stabilizing economic growth.

During the two sessions, China is expected to announce its fiscal deficit ratio too. Regarding macroeconomic policies, China has repeatedly stated that it will not adopt a deluge of strong stimulus measures like some Western countries. China has learned from the negative impacts of excessively loose monetary policies in Europe and the US. In order to avoid debt expansion and high inflation, China is unlikely to implement the kind of large-scale stimulus measures seen in Europe and the US.

China will introduce more stimulus plans to boost economy, but these are expected to be more targeted and precise. China's monetary policy has always pivoted on precision in implementation, so the pace of reserve requirement ratio cuts has been relatively measured. 

As for fiscal policy, it is expected that the scale of local special-purpose bonds will remain the same as last year, while the central government may slightly raise the deficit ratio. It is generously believed that a deficit ratio of 3.5 percent is more plausible.

The fundamentals of the economy are sound. Some foreign China watchers who make pessimistic comments about China's long-term economic growth do so without any basis. The growth potential of the Chinese economy is still very significant.

When Western media outlets hype the "confidence collapse theory" or "peak theory" about China's economic development, their major arguments interpret short-term phenomena as long-term ones. Because China's economy has encountered some setbacks in recent years, they tend to see these phenomena as long-term trends, which is actually a common mistake made by many observers.

Western media outlets' hype about the "collapse of confidence" exaggerates the impact of the technological and economic crackdown by the US on China. In reality, it is still a form of US-centric thinking. 

Such claims hype the idea that if American capital and technology are not allowed to come to the Chinese market, China's economic prospects are dim. Given the immense size of the Chinese economy and its strong technological capabilities, it can still do very well despite US containment.

Many economic observers, including domestic observers, do not understand the logic of the Chinese government's policy-making. Unlike Western countries' macroeconomic policies, China's policy goals are diverse, including economic, social and political objectives. 

When observing China's economic policies, it is essential to consider the changes in the weights given to these multiple objectives. When non-economic goals have a higher weight, the economic growth rate will obviously be affected, as can be observed from economic fluctuations in recent years.

Last year, the Central Economic Work Conference clearly called for including non-economic policies in the assessment of macroeconomic policy consistency to ensure that the policies form a synergy. It is obvious this year that the weight of China's policy-making has shifted more toward expansion, so the outlook for economic growth this year is promising. If foreign experts and media outlets understand the logic behind China's government policy-making, they will not have a pessimistic view of the Chinese economy.

China's economy saw many new growth points in 2023, and there are still many new highlights to look forward to this year. In the field of medium-level technologies, China is constantly replacing products from developed countries. In the high-tech field, China is rapidly catching up with developed countries. 

In some areas, such as new-energy vehicles and artificial intelligence applications, China is even playing a leading role. A potential new bright spot in China's economy this year is the process of making electric vehicles (EVs) smarter. The development of the EV industry has already entered the second-half stage. 

The first half-stage competition was about the battery, now it's about smart cars. In the field, China is leading the world. In some areas, Chinese brands have even surpassed Tesla. This is something worth paying attention to this year. 

Another issue worth paying attention to is whether the real estate market stabilizes this year. If it does, it will play a very important role in stabilizing the entire economy.

This year, it is likely that foreign trade will resume growing on a full-year basis, as exports rose in the final months of last year. Yuan-denominated exports did not decrease last year. This year, if the Chinese economy recovers well and the US Fed lowers interest rates, the yuan may even appreciate against the dollar. Additionally, global demand is recovering, so with these two factors combined, it is believed that China's foreign trade will most likely record a growth this year.