On Monday, while attending the China International Import Expo in Shanghai, Ambassador Nicholas Burns delivered the following remarks. Parallel to the show is the Hongqiao International Economic Forum, where Farrell was giving a speech.
According to a representative at Intel Corp.’s China office, the business is still optimistic about the country and is working on AI solutions for the PC and semiconductor markets.
According to Liu Ming, an official at China’s top economic planner, the government has a chance to create the “silver economy,” which refers to caring for the elderly, during a speech at the Hongqiao conference.
Demand is being driven up by the ageing population’s rapid expansion, increased earnings, and improved health care, according to Liu.
As to government figures, the proportion of China’s population who are 60 years of age or older is close to one-fifth, and this group is projected to double in size by 2050.
One of the largest international exhibitors at the CIIE this year, Intel Corp., stated that it is still optimistic about the Chinese market, where it employs around 12,000 people. On the fringes of the show, Bing Zhou, general manager of Intel China corporate relations, stated that the company is focusing on creating AI-powered solutions for the biggest PC and semiconductor market in the world.
Regarding the US chip limitations on China, which are a significant point of contention between Washington and Beijing, he declined to comment.
He declared, “China’s economy is still recovering.” “We’re working on creating more AI-enabled PC products.” According to Zhou, Intel expects 100 million PCs with AI capabilities by 2025, the bulk of which will be in China.
Burns stated that Washington is “not in favour of decoupling these two economies” during an address to the CIIE. We desire even more trade.
He referred to the two nations’ “extraordinarily important economic relationship” and listed agriculture as one of the trade ties’ most fruitful areas.
You may see a recent interview that Burns had with Bloomberg News here.
China Requests Industry Standards Collaboration (10 a.m.)
Sheng Qiuping, vice minister of commerce, made a global demand for increased industry standards collaboration, arguing that this would advance trade and supply chain integration.
Sheng also stated that if China and other countries worked to recognise each other’s norms, trade and industrial cooperation may improve in a speech at the Hongqiao conference.
Farrell Sees Improvement in China Ties at 9:15 a.m.
In a video address to the Hongqiao conference, Farrell stated that Australian Prime Minister Anthony Albanese’s visit to China “is a sign of the positive direction our bilateral relationship is heading in.”
He continued by expressing his optimism that Australian wine and rock lobster will soon make a comeback on Chinese dinner tables and by predicting great things in the fields of health, tourism, education, and renewable energy technology with the Asian country.