On August 21, Fortune China officially released the 2024 Fortune Tech 50 list, and the world-leading solar technology company, LONGi Green Energy Technology Co., Ltd. (hereafter as "LONGi"), was selected for its outstanding performance in technological innovation, product development, and intelligent manufacturing.
The Fortune Tech 50 list aims to identify technology companies from China that are influencing the world. These companies are driven by innovation, continuously invest in research and development, actively expand application scenarios, have achieved remarkable results in the domestic market, and are even leading global trends, making important contributions to the development of future technologies.

Innovation is the soul of LONGi and the internal driving force for the continuous development of the photovoltaic industry. As a member of China's photovoltaic industry, LONGi has made systematic breakthroughs in mono-crystalline silicon rods, wafers, cells and modules, contributing to the high-quality development of the industry.

In terms of wafers, the company-led project "Key Technological Innovations and Applications of High-Efficiency and Low-Cost Manufacturing of Solar Mono-crystalline Silicon Wafers" won the second prize of the National Science and Technology Progress Award. This is the first time that a private enterprise has won the highest honor in the national science and technology field as the first completing unit and the first finisher since the establishment of this award in the field of photovoltaics in China. The newly developed LONGi TaiRay wafer has broken the dilemma of no performance breakthrough in the single-crystal silicon wafer field for nearly 10 years, becoming a weathervane for the development of wafer technology.

In terms of cells, the company has made breakthroughs in multiple technical and process difficulties of PERC and BC cells. The "Super High-Efficiency and Low-Cost Back-Contact Crystalline Silicon Hetero-junction Solar Cells" and "Super High-Efficiency Silicon-Based Tandem Cells" led by LONGi's R&D team were successfully selected as "2023 Major Scientific and Technological Progress in the Field of Photovoltaics." Since this year, LONGi has refreshed its own world records with 27.30% and 34.6%, respectively, and is currently the "Dual Champion" of the world record for single-crystal silicon cells and crystalline-silicon-perovskite tandem cells. Since 2023, the company has focused on upgrading and iterating BC technology, forming a rich BC full-scenario product matrix, creating more value for customers with technological innovation + scenario satisfaction.

While achieving technological innovation, LONGi is also actively promoting intelligent manufacturing innovation. In December 2023, LONGi's Jiaxing Production Base was selected as a "Lighthouse Factory" by the World Economic Forum, which is also the first "Lighthouse Factory" in the global photovoltaic industry. In this "Lighthouse Factory," LONGi has extensively adopted new technologies such as industrial internet, big data, artificial intelligence, and digital twins, successfully implementing more than 30 digital use cases. With the help of digital and intelligent means, the company has achieved the leap from "manufacturing" to "intelligent manufacturing."

As a global solar technology company, LONGi adheres to the concept of "seeking development through innovation," focuses on future industrial technologies, and continues to lead efficient technology iterations and industrial transformations. The company has a national enterprise technology center and eight provincial enterprise technology centers, and has established a technical R&D team of more than 5,000 people. It has formed an efficient R&D system and sufficient technical reserves for "producing one generation, developing one generation, and reserving one generation" around clean energy technologies such as photovoltaics and hydrogen energy. In the past five years, LONGi has accumulated more than 23.5 billion yuan ($3.3 billion) in R&D investment. By the end of 2023, the company had accumulated 2,879 various authorized patents.

Over the years, from technological innovation, product innovation to intelligent manufacturing innovation, LONGi has been running at the forefront of technological innovation in the photovoltaic industry. In the future, the company will adhere to independent research and development, continuously enhance core competitiveness, and continues to create value for global customers with more reliable and efficient products and services.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy, and has also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

The Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on Friday to review policies and measures to open up a new vista in the large-scale development of the western region.

Xi Jinping, general secretary of the CPC Central Committee, chaired the meeting.

The meeting urged focused efforts to pursue well-coordinated environmental conservation, large-scale opening-up, and high-quality development, and move faster to create a new pattern of development to elevate overall regional strength and sustainable development capacity.

Efforts should be made to deepen reform comprehensively, further unleash and develop the productive forces, boost the vitality of society, and blaze a path of Chinese modernization that suits the realities of the region, according to a statement released after the meeting.

The meeting also called for developing specialty industries that leverage local strengths, enhancing technological innovation capabilities, and promoting the transformation and upgrading of traditional industries.

The meeting stressed efforts to promote high-level environmental conservation, build a beautiful western region, thoroughly carry out pollution prevention and control, and advance green and low-carbon development.

It urged the western region to enhance the openness of the economy, strengthen the guarantee capacity of energy and resources, and promote the construction of clean energy bases.

Measures will be taken to advance the new urbanization in accordance with local conditions, consolidate the poverty alleviation achievements, and make sure that there will be no relapsing into poverty on a large scale in rural areas, according to the meeting.

The meeting also noted that a strong sense of community for the Chinese nation should be forged to safeguard ethnic unity and stability in border areas.

The signing ceremony for a strategic partnership between the China Golf Association (CGA) and Golfzon China was held in Beijing on Thursday. To better promote the future development of digital golf, both parties plan to donate thousands of SwingPlay Golf Devices to primary and secondary schools nationwide.

Wei Qingfeng, secretary general of the China Golf Association, noted that through research conducted this year, the association discovered that the biggest challenges to promoting golf in primary and secondary schools are the lack of venues, facilities, and trained instructors.

“The golf devices we are donating to students are convenient to use, safe, and portable. They effectively address these issues and integrate learning, practice, and competition,” Wei remarked.

The CGA and Golfzon will engage in cooperation across various fields, including youth golf and indoor golf.

The two organizations have jointly launched the 2024 Golfzon China Open. The event boasts a total prize pool of 5 million yuan ($69,000).

Golfzon China announced that one of its practice facilities will be open to young people for free every morning until December 31, aiming to attract more youth to participate in golf.

At the ceremony, student representatives received the donated SwingPlay Golf Devices from the guests and demonstrated their swings.

Hui Chenlong, director of the events department of Golfzon China, stated that the CGA and Golfzon China will closely collaborate to advance golf in China, bringing more and better indoor golf tournaments to enthusiasts.

“Looking ahead, we will jointly explore new development strategies for golf, promote its popularity in China, foster golf culture, and build a solid foundation for the sport by nurturing more talent. This will contribute to public health, the fitness economy, and the development of healthier youth in China,” Hui concluded.

Chinese President Xi Jinping met with Italian Prime Minister Giorgia Meloni in Beijing on Monday.

Apple was edged out of the top five smartphone vendors in China in the second quarter, as competition from Chinese domestic brands intensified, according to global research firms.

The trend shows that with domestic handset makers surging ahead, the focus of competition among leading smartphone brands in the domestic market has subtly shifted from shipment volumes to high-end offerings, analysts said. 

A report released on Friday by research firm IDC said that the Chinese original equipment manufacturers - particularly Vivo, Huawei and Xiaomi - with large double-digit growths, were the biggest contributors to the increased momentum in the second quarter. 

This led to pushing Apple into sixth position and allowed local players once again to dominate the top five spots after a hiatus of nearly four years.

Research firm Canalys also reported that Apple's iPhone ranked sixth in the Chinese mainland smartphone market, with a share of 14 percent, down by two percentage points year-on-year, following its Chinese rivals Vivo, Oppo, Honor, Huawei Technologies, and Xiaomi.

According to Canalys' latest report issued on Thursday, Vivo reclaimed the No.1 spot by shipping 13.1 million units, capturing a 19 percent market share. The growth was driven by strong performances in brick-and-mortar channels and robust online sales during this year's June 18 (618) e-commerce shopping gala.

Canalys analyst Lucas Zhong said it was the first time domestic vendors dominated all the top five positions in one quarter, showing that Chinese vendors' strategies for high-end products and their deep collaboration with local supply chains are starting to pay off in hardware and software features.

In the second quarter, iPhone shipments in China totaled 9.7 million units, down from 10.4 million units a year earlier, despite experiencing strong year-on-year growth in shipment volumes in China in April and May, according to Canalys.

Observers said that in recent years, Apple has built strong competitiveness in the Chinese market, fueled by the ongoing market openness and industrial upgrades. This also spurred the growth and strengthening of Chinese smartphone brands.

Canalys noted that Chinese companies are investing in artificial intelligence infrastructure and developing proprietary models to gain a competitive edge in the high-end segment. This fierce domestic competition also drives their expansion into international markets, with milestones expected throughout 2024.

Apple offered its largest-ever price cuts during the 618 shopping event to boost sales, with some iPhone models discounted by over 2,000 yuan ($276). This strategy secured the top spot for Apple on JD.com's smartphone sales rankings but did not reverse the overall decline in iPhone sales for the second quarter.

Chinese domestic smartphone producers are making significant strides in the high-end market. Canalys analysts noted that in the second half of the year, the market will closely monitor Huawei's launch of HarmonyOS Next, as the company aims to establish it as a third major mobile operating system alongside Android and iOS.

Chinese Foreign Minister Wang Yi held talks with Ukrainian Foreign Minister Dmytro Kuleba in the southern Chinese city of Guangzhou on Wednesday. The Ukraine crisis has entered its third year, with the conflict ongoing and risks of escalation and spillover still present. As the highest-ranking Ukrainian official to visit China since the outbreak of the conflict, the discussions and the signals sent during the talks, as well as whether there are signs of peace in the Russia-Ukraine conflict, have garnered international attention. Particularly in light of China's successful mediation efforts in re-establishing diplomatic relations between Saudi Arabia and Iran, and promoting internal reconciliation of Palestine, there are heightened expectations for China's constructive role in promoting peace talks in the Russia-Ukraine issue.

As part of China's recent diplomatic efforts to mediate international and regional hotspots, China's proactive invitation to Kuleba to visit has garnered international attention. According to Reuters, citing Ukrainian accompanying officials, the talk lasted over three hours, longer than planned, and was "very deep and concentrated." The word "deep" is rarely used in diplomatic settings. In a statement after the meeting, the Ukrainian side stated, "China's role as a global force for peace is important." This reaffirms China's role as a peacemaker and highlights the effectiveness of the meeting.

As a direct party to the Russia-Ukraine conflict, Ukraine has shown greater interest in China's positions than before. This has led international public opinion to maintain cautiously optimistic about the direction of the Russia-Ukraine issue and to pay more attention to China's role in major regional conflicts. Even Western media, which often distorted and smeared China's stance on the Russia-Ukraine issue, is now speculating whether China intends to preempt the US in playing the role of peacemaker. These discussions in various directions all confirm that China's efforts to promote peace are increasingly prominent and have become an acknowledged reality in the international community.

The distortions and slanders against China by the West have largely fallen apart on their own. The fairness of China's position has been once again validated, and China's proposals have withstood the test of time. Western efforts to stoke the fire have only prolonged the conflict. Ukrainian President Volodymyr Zelensky stated in a recent interview, "We have to finish the war as soon as possible." More and more signs point to the fact that the resolution of all conflicts will ultimately return to the negotiating table; all disputes will eventually be resolved through political means. This is precisely what China has consistently advocated.

From the handshake between Saudi Arabia and Iran, to the historic reconciliation within Palestine, to the complex and challenging Ukraine crisis, why does China's position repeatedly manage to gather the broadest consensus in the international community? First, it is because China maintains an objective and fair stance and is committed to mediation and promoting dialogue. Second, China adheres to the concept of common, comprehensive, cooperative, and sustainable security, working tirelessly to maintain world peace, stability, and development. In the face of crises, China does not stoke the flames or take advantage of the situation for its own gain. This stance is visible to the international community and the parties involved in the conflict.

There is an Arabic proverb: "Seek knowledge, even if you have to go as far as China." Now, the saying "Seek peace in China" is also becoming popular. On the complex international stage, China's role as a responsible major power maintaining world peace is increasingly recognized. As China called for in the Global Security Initiative Concept Paper in 2023, "countries need to work in solidarity to foster a community of shared security for mankind and build a world that is free from fear and enjoys universal security." China's stance is clear and consistent: between peace and war, it chooses peace; between dialogue and sanctions, it chooses dialogue; between cooling down and fueling the fire, it chooses cooling down. On the Ukraine crisis, China remains straightforward and sincere, without political self-interest or geopolitical manipulation. China is truly dedicated to mediation and promoting dialogue to achieve a cease-fire and an end to the conflict.

Of course, the Ukraine crisis did not form overnight, and resolving the issue will not be accomplished in a single step. It requires the joint efforts of the international community. Recently, US Secretary of State Antony Blinken once again claimed at the Aspen Security Forum that "China can't have it both ways." Many in the West remain stuck in the mindset of "supporting one side," which only complicates and intensifies the conflict. Influential major countries, in particular, should align with China to create conditions and provide support for direct dialogue and negotiations between Russia and Ukraine. Only when major powers contribute positive energy rather than negative energy can there be an early glimpse of a cease-fire in this conflict.

Foxconn, Apple's assembly partner for building iPhones, has signed a strategic cooperation agreement with the Henan provincial government, to build a new business headquarters building in Zhengzhou, Central China's Henan Province, according to the company's website on Wednesday.  

"Setting up a new business headquarters in Zhengzhou is a very important part of Foxconn's new business development in Chinese mainland," said the company.

According to Foxconn, the first phase of the project is backed by a total investment of about 1 billion yuan ($137.4 million). The strategic cooperation focuses on three emerging industries, namely, EVs, digital health and robotics, as well as three new areas of technology, namely, AI, semiconductors and new-generation mobile communications.

The new building will provide industrial resources, technical force and other related support for Foxconn in the Chinese mainland. Moreover, the company will focus on the layout of an electric vehicle pilot production center, solid state battery and other projects in Zhengzhou.

While Foxconn has stepped up to enhance cooperation with Chinese mainland enterprises, some media outlets reported that the company has shifted some of its capacity in India back to Chinese mainland.

According to a report by chinatimes.com on Wednesday, the assembly of iPhone 15 in Foxconn's Indian factory did not go well last year, which forced Apple to reduce pricing. Therefore, this year the company has shifted part of the production capacity back to the Chinese mainland, and BYD, Luxshare and other Chinese major manufacturers have joined the iPhone 16 supply chain, becoming Apple's latest foundry partners.

The Chinese mainland market has a mature supply chain system and efficient production capacity that has been developed over many years. This includes not only a well-established network of component suppliers, but also an experienced and skilled labor force, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Wednesday. 

At the request of Chinese automaker SAIC Motor Corp, the European Commission (EC) has held a special hearing at the EU headquarters in Brussels regarding the anti-subsidy investigation into Chinese electric vehicles (EVs). During the hearing, SAIC submitted its defense against the anti-subsidy preliminary ruling, noting that it reserves the right to take further legal measures in response to the EC’s unfair preliminary ruling, according to a statement sent to the Global Times on Monday.

During the hearing on Friday, the company noted that the EC’s investigation involves commercially sensitive information, such as the request for cooperation in providing chemical formulas related to batteries, which is beyond the normal scope of the investigation. 

Moreover, the EC’s determination of subsidies was flawed, such as confusing automobile finance companies wholly owned by foreign joint venturers as SAIC’s affiliates, and including them in the calculation of subsidy rates.

In addition, SAIC has submitted thousands of pages of written materials in the course of the investigation, but the EC ignored some of the key information and defenses submitted by the company and inflated the subsidy rates of multiple items.

The company said that open competition leads to progress, while protectionism only leads to backwardness. It expressed hope that China and the EU will accelerate the cohesion of innovative forces through win-win cooperation and create global green development.

On June 12, the EC issued a pre-disclosure of preliminary ruling information, which calculated a subsidy rate of 38.1 percent for SAIC. In response to the calculation error in the pre-disclosure, the company promptly raised a plea. 

On July 4, the EC formally announced the results of the preliminary ruling, saying that the duty rate stood at 37.6 percent, and planned to impose provisional countervailing duties.

The EC is expected to make a final ruling on November 2. SAIC reserves the right to take further legal measures in response to the EC’s unfair, unreasonable and unlawful preliminary ruling, the company said.

SAIC on Thursday participated in the post-preliminary ruling hearing of the EU’s countervailing subsidy investigation against China’s EVs organized by China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME). 

A representative from the CCCME pointed out that the EC violated WTO rules during the preliminary ruling, and the subsidy margin calculated in the current preliminary ruling did not reflect the real situation of the sampled enterprises in China.

The EC’s decision to take provisional tariff measures was strongly opposed by some EU member states, the German Association of the Automotive Industry and the major European automobile producers, which seriously harmed the interests of China and Europe, the CCCME noted.

China and Japan trimmed their holdings of US Treasury bonds in May in a move that reflects the growing worry about US economic risks, experts said. 

According to data from the US Department of the Treasury on Thursday local time, China reduced its holdings of US Treasury bonds by $2.4 billion in May to $768.3 billion, marking another decrease after increasing its holdings for the first time in April this year.

As the second largest foreign holder of US Treasury bonds, China's holdings have been below $1 trillion since April 2022, and have been decreasing steadily.

In January 2024, China reduced its holdings of US Treasury bonds by $18.6 billion. This was followed by further reductions of $22.7 billion and $7.6 billion in February and March, respectively. 

Japan, the largest holder of US debt, also reduced its holdings of US Treasury bonds by $22 billion in May, with total holdings being $1.1283 trillion. 

Experts believe the reduction in holdings of US Treasury bonds reflects concerns about the risks associated with the US economy. Foreign investors may be worried that a slowdown in the US economy could affect the return on their investments in US bonds.

According to the Federal Reserve's Beige Book report released on Wednesday, it is predicted that the economic growth in the US will slow down in the next six months.

Expectations for the future of the economy were for slower growth over the next six months due to uncertainty around the upcoming election, domestic policy, geopolitical conflict, and inflation, the report said.

The report is based on information that Federal Reserve Bank gathers anecdotal on current economic conditions in its District.

While seven Districts reported some level of increase in economic activity, five noted flat or declining activity—three more than in the prior reporting period in May.

China said it has completed the entry procedures for Bangladesh's export of fresh mangoes to China, and vowed to further promote high-quality agricultural products from the South Asia country entering the Chinese market, read a joint statement released on Thursday. 

Analysts said the statement further enhanced cooperation between China and Bangladesh and demonstrated a mutually beneficial collaboration model for South Asian countries.

The joint statement was released as Bangladeshi Prime Minister Sheikh Hasina wrapped up her state visit to China on Thursday. 

Qian Feng, director of the research department at the National Strategy Institute at Tsinghua University, attributed the steady growth of the China-Bangladesh relationship to high economic complementarity, as well as the alignment of the China-proposed Belt and Road Initiative with the current stage of Bangladeshi economic development. 

According to the joint statement, the two sides agreed to deepen cooperation in trade, investment and finance, conclude the joint feasibility study on a China-Bangladesh free trade agreement, and launch formal negotiations as soon as possible.

China and Bangladesh agreed to further strengthen communication on the export of high-quality Bangladeshi agricultural products to China. Aside from mangoes, China welcomes Bangladesh to expand exports of jute, leather, aquatic products and other high-quality special products to China, read the statement. 

In the latest trade data released by China's General Administration of Customs, from January to May 2024, China-Bangladesh bilateral trade amounted to 74.91 billion yuan ($10.30 billion), gaining a positive growth of 0.2 percent year-on-year. 

Notably, boosted by favorable tariff policies, Bangladesh's exports to China during the period hit 3.27 billion yuan, a significantly surge of 23.6 percent year-on-year. 

Moreover, China has also been one of the largest sources of investment in Bangladesh. As of the end of 2023, China's investment stock in Bangladesh had increased to nearly $1.4 billion, with nearly 700 Chinese-funded companies in Bangladesh, creating more than 550,000 jobs, according to the Chinese Embassy in Bangladesh.

Al Mamun Mridha, secretary general of the Bangladesh China Chamber of Commerce and Industry told the Global Times in a recent interview that China's advanced technologies and vast experience in various industries can greatly assist Bangladesh in its industrial modernization and development.

"Furthermore, adopting advanced Chinese technologies and products can enhance the productivity and competitiveness of Bangladeshi industries on the global stage," Mridha said. 

During Bangladeshi Prime Minister Sheikh Hasina's state visit, the two sides signed cooperation documents on trade and investment, digital economy, financial regulation, education cooperation, medical care and public health, infrastructure cooperation, green and low carbon development, agricultural cooperation, hydrological forecasting, and cooperation in radio and television, according to the joint statement. 

Wang Jinwu, a commercial manager from the Bangladesh Office of Chinese No.5 Engineering Co. Ltd. of CCCC FHEC, who had been working in the South Asian country for eight years, told the Global Times on Thursday that the joint statement will play a positive role in promoting Chinese investment in Bangladesh, and will also provide reassurance to Chinese entrepreneurs who are currently investing or have already invested in Bangladesh.

"With the upgrade of bilateral relationship, I believe there will be more opportunities and potential in the two countries' private trade, economic zones, and related industry upgrades in the future," Wang said.