‘China committed to investing in Kuwait projects; ties strong’

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KUWAIT CITY, May 15: A delegation of Kuwaiti media practitioners and journalists visited the China-Arab Research Center on Reform and Development at the University of Shanghai for International Education. Secretary General of the center Professor Wang Guanda, Associate Professor Chen Yueyang and several high-level students warmly welcomed the delegation. Guanda spoke highly of the strong relationship between China and Kuwait, emphasizing that his country is committed to investing in Abdullah Port, and that the agreements signed by his country will have a positive impact on Chinese investments in Kuwait. He also highlighted China’s interest in collaborating with Gulf countries, particularly Kuwait, in renewable and solar energy production. He expressed his optimistic outlook for Gulf countries, indicating that in view of climate change, desert areas in the region will transform into green oases.

Media persons from Kuwait are briefed on the economic success of China.

On the general economic position, Guanda cited a recent report by China People’s Bank, which showed global demands and international trade on the rise. He said China’s consumption exceeded expectations, while industrial investments continue to grow. He also affirmed that the Chinese government’s financial subsidy policy will continue, supported by integrated political procedures.

China People’s Bank reported that China’s GDP grew by 5.3 percent in the first quarter of this year, reaching 29.63 trillion yuan (approximately $4.17 trillion). It added the economy rose by 1.6 percent, with domestic consumption rising by 4.7 percent in the first quarter of 2024. China aims to boost local demand to enhance economic growth. Guanda also cited the National Statistics Office, which reported a 10.1 percent increase in research and innovation expenditures in 2022, amounting to three trillion yuan ($0.42 trillion).

The China-Arab Research Center on Reform and Development at the University of Shanghai for International Education.

Research
He disclosed that China leads the world in terms of the number of official workers in research. In 2023, China exported electric vehicles, solar batteries, and lithium batteries worth 1.06 trillion yuan ($150 billion US), he added. He emphasized that China’s contribution to the global economy has reached 30 percent and that it continues to enhance this contribution through the Belt and Road Initiative. This initiative will enter a new high-quality phase in 2024, as announced by President Xi Jinping, he elaborated. Meanwhile, Guanda criticized certain Western press institutions for doubting the sustainability of China’s advancement.

“These entities spread rumors, claiming China has reached its peak and will collapse due to its aging population and reduced production. Such rumors are part of a deliberate attempt to defame China, he pointed out. He said Western propaganda has doubted China in recent years, but China has proven them wrong. He disproved the allegation that there is an excess of Chinese production beyond market demand by quoting Chinese Minister of Finance Liao Minzhu. According to the minister, the demand for electric cars will increase to 45 million by 2030, which is 4.5 times the demand in 2022. He clarified that China has manufactured 9.587 million electric cars, of which only one eighth has been sold domestically. He added it is not true that the Chinese industry is successful solely due to government subsidies.

Instead, the government provides subsidies to start-up industries, and once they prove their success, the subsidies are gradually reduced. If an industry fails after receiving the subsidy, it is no longer subsidized because it is expected to fail, he explained. On teaching the Arabic language to Chinese students, Guanda disclosed that approximately 1,000 students graduate each year from Arabic language departments at 52 universities. He went on to say that 200 students graduate annually from the China-Arab Research Center on Reform and Development, and there are also students who study Arabic independently. Guanda himself studied Arabic at Kuwait University in 1998, revealing that the center will establish a translation department for Kuwait starting from the upcoming academic year. This coincides with the inauguration of the new headquarters of the center, he concluded.

By Saeed Mahmoud Saleh
Al-Seyassah/Arab Times Staff

This news has been read 1294 times!

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