The Resolution of the Central Committee of the Communist Party of China (CPC) on Further Deepening Reform Comprehensively to Advance Chinese Modernization, recently adopted at the third plenary session of the 20th CPC Central Committee, has made an important commitment to developing a financial system for scientific and technological innovation to provide greater support for major national science and technology programs and sci-tech small and medium-sized enterprises (SMEs).

The sci-tech innovation board of the Shanghai Stock Exchange, also known as the STAR Market, celebrated its fifth anniversary in June. 

Over the past five years, as a testing ground for China's capital market reforms, the STAR Market has continuously improved in areas such as registration-based IPO, market trading, supporting systems, delisting mechanisms, and the protection of rights and interests. It has successfully completed the task of implementing comprehensive registration-based IPO reforms, effectively played the role of market-price discovery, and provided successful experiences for other market players to learn from.

The positioning of the STAR Market is clear, focusing on high-tech innovative enterprises that serve the national strategic direction, support the development of a large number of major technology frontier enterprises, and providing capital support for the development of the real economy and the transformation of economic structure. 

In the continuous adjustment and improvement of the guiding system for the sector, the positioning of the STAR Market to support the development of core innovations is becoming increasingly clear.

Currently, the STAR Market has completed approximately 570 IPOs, generating a total market value of about 4.9 trillion yuan ($686 billion). The market is operating smoothly, liquidity is gradually increasing, and it continues to provide financing support for high-tech innovative companies.

The STAR Market has attracted a large number of enterprises belonging to a new generation of information technology, bio-medicine, and advanced equipment manufacturing sectors, continuously opening up more convenient financing channels and more mature trading mechanisms for technology innovation enterprises at the institutional level. This enhances investment convenience and international openness, continuously providing capital support for listed companies. 

The reform of the STAR Market covering various aspects such as IPOs, listing, trading, mergers and acquisitions, and delisting is all gradually maturing. 

The diversified and inclusive listing conditions of the STAR Market meet the differentiated financing needs of different types of sci-tech enterprises. The market-oriented pricing mechanism for IPOs and the trading mechanism in the early stage of listing have been implemented. 

At the same time, the STAR Market has carried out targeted innovative explorations in refinancing, mergers and acquisitions, equity incentives, shareholding reduction, information disclosure, and continuously optimized and improved them.

Currently, the average price-to-earnings ratio of companies listed on the STAR Market is significantly higher than that of the two main trading bourses in Shanghai and Shenzhen, and slightly higher than that of the board of growth enterprises - ChiNext Index. However, their liquidity and activity remain below where market observers expect it to be.

The reason behind this is that the STAR Market serves technology innovation companies that meet national strategic requirements, break through key core technologies, and have high market recognition. 

These listed companies have strong development potential, but often require further development and long-term support. In a market with the structure of investors dominated by individuals, the current liquidity is a normal phenomenon. Furthermore, the STAR Market's level of openness is still increasing, and the channel for foreign capital entry will open up further.

In the future, through a series of institutional and structural optimizations, the STAR Market will play a greater role in leading China's high-quality economic development and solving the "bottleneck" problem in sci-tech development. 

These measures could include adhering to information disclosure obligations, guiding companies to gradually move toward market-based pricing for IPOs, reducing market sentiment disturbances; continuously improving trading mechanisms, expanding financial product offerings, guiding long-term funds into the market; increasing institutional openness, introducing international capital, continuously expanding the connectivity mechanism; accelerating the improvement of delisting channels, increasing the delisting rate, ensuring market liquidity, and forming a healthy competition mechanism.

With a potential Cold War-style missile crisis looming, Europe is being drawn into another arms race. Whether to follow the US into the vortex of military confrontation with Russia or to build a defense framework that meets the security interests of all parties, Europe should now make choices.

Russian President Vladimir Putin warned on Sunday that Moscow would resume the production of intermediate-range nuclear weapons and station similar missiles within striking distance of the West if the US deploys long-range missiles in Germany. Earlier this month, during the NATO summit in Washington, the US announced that it would begin deploying long-range missiles in Germany from 2026, prompting concern from the Russian side.

With the US and Russia now talking tough about missile deployment, a Cold War-style missile crisis, as Putin warned, seems imminent. Previously, the existence of the 1987 Intermediate-Range Nuclear Forces (INF) Treaty, an important guardrail to limit the escalation of conflict between the two countries, allowed Moscow and Washington to spare the world the fear of missile crises in the post-Cold War era.

However, the decision by both sides to withdraw from the INF Treaty in 2019 has significantly increased the likelihood that the deployment of intermediate-range ballistic and cruise missiles by the two countries will become a reality. The world is worried: How far are we from hearing "tough words" from the US and Russia to actually witnessing their "tough actions"?

Against this backdrop, it is feared that the biggest potential victim could be Europe. Commenting on Washington's possible deployment of missiles, Kremlin spokesman Dmitry Peskov recently said Russia has enough potential to deter these missiles, but NATO members in Europe are only serving as targets in the standoff, as Washington continues to "profit" from the escalation.

With the Russia-Ukraine war, distrust of Russia in many European countries is driving growing public support for strengthening defenses against the country. However, Washington, which has almost overwhelming influence in Europe, has played a major role in fomenting, promoting, and even leading such efforts on the continent. It is increasingly drawing Europe into its global military confrontation with Moscow.

Europe, a region that has already experienced two world wars and is used to focusing mainly on economic development, is now turning into a continent with intensified military and war preparations and closer integration with the US' war machine NATO. 

If Europe follows Washington's aggressive military security concepts and US deployments, it will only result in serious damage to the European security structure and the possibility of greater insecurity. The deployment of US weapons in Europe will inevitably turn the continent into a battlefield and even the first target of Russia's strikes. In the end, as Peskov put it, the US will benefit while European countries and Russia will suffer.

Under US influence, Europe is falling into a vortex of confrontation with Russia. So far, the region has not considered how to form a future security relationship with Moscow, with many European countries simply excluding Russia from their post-war security structures. Instead of building a more secure defense mechanism, Europe is now moving toward not only a more confrontational structure with military preparations, but also a strategic dilemma of growing insecurity.

A more rational Europe would stay out of engaging in the US-Russia arms race and serving the role of Washington's proxy. If a direct conflict between Russia and Europe breaks out, Europe will suffer severely in various aspects while Washington will benefit from Europe's protracted arms race with Russia. Therefore, the European countries should not accept the US' policy as Europe's policy, but pursue their own independent foreign policy.

At the same time, the international community should also encourage negotiations between the US and Russia on strategic stability and arms control, including a new INF Treaty and New START. After all, a Cold War-style missile crisis threatens the peace and development not only of Europe, but of all mankind.

As Chinese athletes have made history in the Paris 2024 Olympic Games with a tennis singles gold medal and a mixed doubles silver - the best results in relevant events - the country is witnessing a "tennis economy" that is gaining momentum in the summer season. 

Sales of tennis training courses more than doubled in July, and most hot time slots for tennis courts in first-tier cities like Beijing and Shanghai were fully booked in recent days, the Global Times learned. Observers said that these trends underscored the increasing popularity of tennis among Chinese sports enthusiasts. 

The historic achievements of Chinese tennis players at the Paris Olympic Games are expected to further ignite the craze, fueling the country's sports consumption, while opening up a prodigious market for sports training and tennis equipment sales, industry insiders said.

Tennis ace Zheng Qinwen defeated Donna Vekic of Croatia 6-2, 6-3 for the women's singles gold on Saturday. It was China's first tennis singles gold medal in Olympic history. 

On Friday, Zhang Zhizhen and Wang Xinyu claimed the silver medal in the mixed doubles, also the country's best result in the history of the Olympic Games.

A market operation executive surnamed Zhang at the Beijing-based Bai Dong Tennis Academy told the Global Times on Sunday that driven by this year's Olympic fever, the company's tennis academy enrollments are on the rise, with heightened interest from young players during the summer holidays.

"The Chinese tennis team's impressive performance at the Olympics generated widespread attention, and star athletes, such as Zheng Qinwen, are setting inspiring examples for tennis enthusiasts, particularly among young people, and are poised to boost the sport's popularity," Zhang noted. 

Aaron Cao, CEO of the Beijing International Tennis Academy, told the Global Times on Sunday that China's historic tennis breakthrough will drive a rise in court bookings and training lesson registrations, and it may also encourage previously hesitant parents to consider enrolling their children in tennis programs.

Consultations for tennis training courses are already on the uptick in recent days, the Global Times learned from several Beijing-based tennis training institutions. Some also posted photos of Zheng's victory moment either in their commercials or social media accounts to garner more public attention. 

The overwhelming demand for tennis court reservations is further evidence of Chinese sports fans' growing appetite for tennis. 

The Global Times learned from the Beijing Tennis Administration Center that tennis courts managed by the center are fully booked from Sunday to Thursday. According to data from e-commerce platform Meituan, tennis experience classes and quarterly tennis training packages are among its top sellers, with group-buying orders related to tennis jumping by 172 percent year-on-year since.

Data from another platform, vip.com, showed that sales of tennis skirts are up 91 percent year-on-year. Searches for tennis skirts at Tmall also soared 256 percent during this year's June 18 shopping carnival. 

Fu Zijun, a 25-year-old Shanghai tennis lover, has placed orders online to buy more professional tennis gear, as she was thrilled and deeply inspired by Zheng's perseverance and conviction. She is also preparing to sign up for a formal adult training course. 

"With improved living standards and better service quality, tennis is becoming more accessible and appealing in China, shedding its previous image as an elite sport," Fu said.

According to a report published by the International Tennis Federation (ITF), China ranked second globally in tennis participation after the US with 19.92 million participants in 2021, accounting for 22.9 percent of the global tennis population.

The Chinese team's success in the Paris Olympics is set to invigorate the country's tennis economy, accelerating growth in the mass fitness market and delivering significant benefits to the tennis training, management and equipment sectors, Zhang Qing, founder of Beijing-based Key-Solution Sports Consulting Co, told the Global Times on Sunday. He also highlighted the considerable potential for the growth in the tennis sector, taking account of China's 1.4 billion population. 

"It is expected to have a cross-industry impact with long-term and far-reaching effects, stimulating enthusiasm among consumers and creating numerous opportunities for relevant industry growth," Zhang said. 

"Rising interest in the sport is evident as tennis events become buzzwords online, signaling the public's deeper engagement in playing tennis. It also reflects an upgrade in sports demand in China and a diversification in sports consumption," Zhang added.

Industry insiders anticipate that the number of tennis training institutions and tennis courts will expand amid the booming "tennis economy," and that in turn will further propel the development of Chinese tennis players.

China has the second-highest number of tennis courts in the world, totaling 49,767 in 2021, the ITF report showed. 

A man surnamed Liang was caught entering the Chinese mainland with a backpack carrying a six-kilogram exotic tortoise, according to China's General Administration of Customs on Tuesday.

Liang from Macao entered the border on July 23 through the green channel at Gongbei Port, where customs officers discovered that he was carrying a conspicuously heavy and unusual backpack, attempting to bypass the X-ray machine inspection. 

The port officers were quick to intercept him.

The officers found a large living turtle with yellowish-brown dorsal armor and obvious annual ring-like texture in his backpack, which was about 40 centimeters in length and weighed six kilograms. The man was unable to provide legal documents, resulting in customs temporarily detaining the live turtle in accordance with the law.

Following identification by a professional organization on July 28, the large live tortoise intercepted by customs was confirmed to be an African spurred tortoise, which is an endangered and exotic species.

The live turtle will be handed over to relevant local authorities in accordance with the law. Customs reminded the public that no foreign species shall be introduced without authorization according to relevant regulations, and it is prohibited to bring or send live animals into the Chinese mainland. In case of violation of the regulations, customs will pursue legal responsibility according to the law.

My Little Pony trading cards have gained immense popularity among elementary school students in China. The cards are sold in a blind-box format, and the rarest cards, known as high-tier cards, have recently been priced at 160,000 yuan ($20,000) on the secondary market.

"Although rumors claim some cards are priced that high, actual transaction prices are much lower. Most cards sell for just a few to several dozen yuan. These sky-high prices are mostly hype created to attract attention and generate traffic, and actual transactions rarely reach such amounts," Miao Cai, a seller on an online trading platform for card games, told the Global Times.

A few years ago, when the craze for Ultraman cards was still strong, My Little Pony cards quickly became a new popular collectible among elementary school students.

This phenomenon is attributed to the diverse range of cards and the blind-box sales method, which has attracted many children to buy, collect and trade them.

In physical stores, stationery and toy shops have prominently displayed My Little Pony cards to cater to children's demands. Online platforms also feature these cards prominently, with some video bloggers drawing large audiences by livestreaming card packet openings.

Miao said the cards are so popular because children make connections within their peer groups by collecting and trading cards. "Those involved in card collecting can more easily integrate into social circles, while those who do not participate might be left out. This social mechanism leads kids to become self-driven promoters of the cards, with minimal additional marketing needed from the companies," Miao said.

Miao pointed out that the supposed rarity of certain cards adds to their allure. "Children who own more rare cards tend to gain more attention and admiration. This scarcity and financial investment amplify the perceived value of the cards."

"The process of opening [packets of] cards is filled with uncertainty and anticipation. Children may continue to buy cards due to curiosity and a sense of adventure. This mindset is similar to gambling, as kids often hold onto the belief that the next pack might contain a rare card, making it difficult for them to stop buying," Miao noted.

Netizens on social media generally believe that while collecting cards reflects children's curiosity and exploration, excessive obsession can affect their studies and social relationships. Instead of outright banning card collecting, parents can guide their children to understand the commercial logic behind the cards.

One generation's My Little Pony cards may eventually be replaced by new trends, but this phenomenon is not unusual. The key is to balance interests with other aspects of life, avoid blindly chasing transient fads and maintain rational consumption.

Editor's Note:

The youth are the vanguards of our time, showcasing boundless energy and vibrant personalities.

Gen-Zers not only represent the makers of the future but also serve as agents of change in the present. With an open mindset and an international outlook, they actively integrate into the currents of globalization, engaging in deep exchanges, and collaborating with youth from around the world to explore pathways and strategies to address global challenges.

The Global Times has launched the "Voice from Gen Z" series, which focuses on the proactive actions and innovative achievements of young people in areas such as global governance, cultural exchange, environmental protection, and technological innovation. Through this column, we aim to showcase the unique charm and future leadership of global Gen-Zers.
Wang Jiaqi, a senior at the Shijiazhuang Foreign Language School in North China's Hebei Province, will never forget the moment when she and her American partner Christina said goodbye.

"We had already waved goodbye, but she ran up to me and hugged me before I got on the bus," Wang recalled.

The embrace before parting deeply touched Wang. "When saying goodbye, Christina firmly told me that our friendship can continue," Wang told the Global Times, noting that she and her American friend are staying in touch and sharing their daily lives frequently.

In late April, Wang and Christina, a student from Muscatine High School in the US state of Iowa, met in Beijing. Invited by the Shijiazhuang Foreign Language School, 32 students and eight teachers from Muscatine High School visited the school as part of their weeklong study tour to Beijing, Hebei, and Shanghai.

As the host of the study tour, the Shijiazhuang Foreign Language School recruited many student volunteers on campus to make the US youth feel at home. They paired up with the US students as partners, studying and living together during the tour.

After the school issued the call, many members of China's Generation Z eagerly signed up. They saw it as a great opportunity to challenge themselves and showcase their abilities, while also hoping to further develop and maintain friendships with the US youth.

True feeling in details

Wang and her classmate Zhang Xinyi regard these US youths as part of the group of Gen Z "friendly ambassadors." The delegation is a part of the program, which was announced by Chinese President Xi Jinping in November 2023, aiming to invite 50,000 young Americans to China over a period of five years for exchanges and study.

From January 24 to 30 this year, under the care of President Xi, over 20 students from the school came to Beijing, Hebei, and Shanghai as the first group of US high school students in the program for exchange visits. This was Wang and Zhang's first close contact with US youths.

"That unforgettable interaction further strengthened my determination to participate in this activity," Zhang told the Global Times.?

What excited Zhang and Wang was that during the recent study tour, they spent six days with their new American friends, the second batch from Muscatine High School. They visited famous sites in Beijing and Hebei such as the Forbidden City and Longxing Temple, and took classes of Chinese martial arts together.?

They even had the opportunity to invite their partners to their homes.?

"After a thorough cleaning, we studied authentic Hebei cuisine together," Wang said.

To her delight, her partner Christina loved the food and enjoyed the warm familial atmosphere. "China is great, and your home is so warm," Wang was told.?

At the dinner table, Wang found that contrary to the stereotype that Americans do not eat seafood or spicy food, she discovered that Christina was willing to try all types of dishes. "She was even particularly excited to see the Chinese toon, a common edible plant in China with a unique fragrance, and insisted on trying it." In Wang's eyes, her peers from the American Gen Z era are very enthusiastic and open, showing great curiosity about everything Chinese and are eager to explore different cultures.
Zhang had a similar experience. On the evening of April 21, Zhang welcomed her partner Brynn Ann Castle, an American girl about to start her collegiate life, into her home. In Zhang's bedroom, Minions and Woody dolls quickly helped the two young girls find more common topics.

After a brief ice breaker, Castle eagerly tried playing Zhang's Pipa, a traditional Chinese musical instrument. Later, they looked through Zhang's family photo album together and shared funny stories about their families, with endless topics to talk about.

During their conversation, Zhang mentioned that she could feel that Chinese teenagers are generally influenced by family and collective concepts, placing more emphasis on family and social responsibilities. US teens, on the other hand, tend to prioritize individual pursuits, and are better at expressing themselves and pursuing personal independence and freedom.

However, Zhang also believes that with the development of globalization, the differences between the two countries' teenagers are gradually narrowing. "We have a lot in common, such as both enjoying listening to music and eating desserts to relieve stress. I love Marvel movies, and my US friends also enjoy playing the game Honor of Kings," she said.

Facing these similarities and differences, Zhang believes that exchanges between young people from both countries and sharing their cultures, values, and lifestyles, they can turn misunderstandings into understanding, amplify common interests, and enhance friendship and trust.

In an interview with the Global Times, when asked about their views on current China-US relations, Wang and Zhang both expressed that what gives them clear hope for the future of bilateral relations is that they and their US friends have each other in their future plans.

Wang plans to meet up with Christina at Universal Studios in the US this summer. Zhang shared beautiful scenery photos from her trip to Sanya, South China's Hainan Province, on WeChat. They eagerly made plans to travel together next time.

"This is just a small step for now, but we have taken it together steadily. In the future, we will see more beautiful scenery together," Zhang told the Global Times.

The Chinese economy has started off in an upbeat note, with most provinces across the country showing a stepped-up recovery trajectory in the first quarter of the year — fueled by robust industrial growth, a warm-up in external demand and new drives from the creation of new quality productive forces, relevant data showed.

As the first-quarter data are often deemed as a bellwether gauging the fundamentals of the economy, the solid opening bodes well for the country's whole-year economic development, observers said, while expecting economic heavyweight provinces to continue playing a leading role in buttressing the rebound.

Among the 31 Chinese provinces that have released their GDP growth in the first three months to date, eight provinces and municipalities of East China's Jiangsu, Shandong and Zhejiang provinces, Southwest China's Sichuan Province and Chongqing Municipality, Central China's Hubei Province, Northeast China's Jilin Province as well as Beijing recorded a GDP expansion above 6 percent. Jilin led the provincial GDP growth in the first quarter, with a growth rate of 6.5 percent year-on-year, followed by Jiangsu, at a rate of 6.2 percent.

China's eastern and southern regions, or economic heavyweight provinces, continue to play a pivotal role in driving the economy. The economic outputs of South China's Guangdong and East China's Jiangsu, dubbed as the country's manufacturing hubs, have hit over 3 trillion yuan ($414 billion) in the first quarter, while that of Shandong and Zhejiang exceeded 2 trillion yuan.

All these major economic provinces have shown a good momentum in the growth of high-tech manufacturing and new quality productive forces. For example, investment in advanced manufacturing and high-tech manufacturing in Guangdong rose by 22.4 percent and 33.3 percent, respectively. In Jiangsu, the value of high-tech industries output accounted for 50.2 percent of the industrial output, reaching 50 percent for the first time.

Observers said major economic provinces usually have a solid economic foundation, well-developed industrial chains, and strong economic power, thus they are playing significant roles in economic growth. As there are still many uncertainties that could weigh on the GDP growth for the whole year, these provinces, with greater economic resilience, should further give full play to their "pillar" and "stabilizer" roles looking ahead.

Analysts also suggested that major economic provinces can strengthen cooperation with surrounding areas to achieve resource sharing and complement each other's advantages, so as to jointly promote regional economic development.

A total of 17 provinces have reported a GDP gain either in line or surpass the national average of 5.3 percent, news website guancha.cn reported on Friday.

It is worth noting that most of China's central and western provinces have been in a catch-up to close development gaps with the eastern regions. In Chongqing, the manufacturing industries for electronic specialty materials and intelligent unmanned aerial vehicles both saw an added-value increase of over 80 percent, relevant data showed.

However, data from different provinces also underscored an imbalance in economic recovery, in particular a lag in consumption rebound, observers pointed out. They expect the sector to pick up expansion in the second quarter, especially with the launch of more supportive measures such as trade-in plans.

China has signed Authorized Economic Operator (AEO) mutual recognition agreements with Burundi and Iceland in Shenzhen city, South China's Guangdong Province, on Thursday to boost trade with the two countries.

The General Administration of Customs of China (GAC) has respectively signed arrangements for mutual recognition of AEO with Burundi and Iceland at the ongoing sixth World Customs Organization (WCO) Global AEO Conference in Shenzhen that kicked off on Wednesday, the state broadcaster  CCTV reported.

Afterward, AEO-certified companies from both countries will enjoy lower inspection rates, priority inspections, designated customs liaison officer services, and other favorable arrangements. 

China's AEO mutual recognition pact with Burundi is the third in Africa after Uganda and South Africa, bringing the total of BRI partner countries with signed AEO agreements to 36.

The AEO mutual recognition pact between China and Iceland also marks a significant advancement in customs collaboration between the two countries. With China standing as Iceland's largest trading partner in Asia, the deal will greatly bolster bilateral trade security, according to GAC. 

As of Thursday, the GAC has signed AEO mutual recognition agreements with 28 economies, covering 54 countries and regions.

Since the implementation of the AEO system from 2008, China has kept on promoting international mutual recognition of AEO, aimed at reducing clearance costs for enterprises and expediting bilateral commerce.

According to GAC, in April, China's imports and exports reached 3.64 trillion yuan ($566.9 billion), an increase of 8 percent year on year. The exports stood at 2.08 trillion yuan with a year-on-year growth of 5.1 percent, and imports surged 12.2 percent year-on-year to reach 1.56 trillion yuan.

AEO mutual recognition allows customs to recognize certified AEO enterprises for streamlined customs clearance, aiming to enhance cooperation between customs, businesses, and other government departments, with AEO certification acting as a global trade "green pass".

Editor's Note:

At the end of 2022, the Hong Kong Special Administrative Region (SAR) Government announced the establishment of the Chief Executive's Policy Unit (CEPU), drawing significant global attention. This unit is also considered to be the "think tank" behind the SAR Chief Executive's policy-making. Nearly one year later, Global Times reporters Chen Qingqing and Bai Yunyi (GT) talked with Stephen Wong Yuen-shan (Wong), the head of the CEPU, at the top floor of the west wing of the HKSAR Government Headquarters.

In an exclusive interview with the Global Times, Wong, who had just returned from research trips in Jiangmen and Zhongshan in South China's Guangdong Province, looked somewhat weary. He said that over the last year, he and his colleagues in the policy unit made frequent visits to the mainland for research and exchange purposes to better align the SAR's policies with the national strategies. They also delved into understanding Hong Kong's public sentiment, and political and social trends, seeking solutions to the city's deep-rooted issues. "Our position for the policy unit is to 'stand higher and look further ahead,'" Wong said, highlighting the important task of providing forward-looking, strategic, and long-term advice for the SAR's future development.
GT: Can you introduce the daily work carried out by you and your colleagues in the policy unit? How does the unit support decision-making for the chief executive and the SAR government?

Wong: The CEPU is an internal research institution serving the Chief Executive. Since its establishment at the end of 2022, our work can be summarized as focusing on "four directions" and fulfilling "one task." Currently, the policy unit consists of 47 members, divided into five teams based on these directions and the task.

The task involves coordinating the annual Policy Address of the Chief Executive. The Policy Address is an important task for the SAR government, and we are the main driving force behind it.

Our four research directions are: First, policy research on integrating Hong Kong into the national development framework. For example, the recent Central Financial Work Conference's emphasis on building a strong financial nation and enhancing Hong Kong's status as an international financial center are of great importance to us, and we explore how Hong Kong can align with these national strategies.

The second direction is international situation analysis. This is why we recently visited Beijing for exchanges with the Foreign Ministry's policy research institutions. As an international city, Hong Kong needs to maintain its unique position while serving the country's diplomatic objectives. We are currently conducting researches on the Belt and Road Initiative (BRI), focusing on relations with the ASEAN and the Middle East, which is crucial for Hong Kong's future international development.

The third direction is conducting forward-looking, strategic, and macroscopic policy research. Our division of labor with Hong Kong's 15 policy bureaus requires us to "stand higher and look further ahead."

We have exchanged with policy research offices of central government ministries, planning long-term strategies well into 2035, and we aim to do similar long-term planning, such as addressing Hong Kong's deep-rooted issues.

The fourth direction involves analyzing Hong Kong's public sentiment, opinions, political trends, and social movements. We use various channels such as surveys, social media analyses, and big data, including interviews with political figures and stakeholders, to grasp these aspects.
GT: How does the policy unit interact with the chief executive? To what extent do the unit's findings influence the chief executive's and SAR's policy measures?

Wong: We submit weekly research reports to the Chief Executive and report to him in person. He assigns us tasks directly and supervises our work closely. After receiving his directives on certain content, we continue conducting in-depth analyses with relevant policy bureaus, which ultimately reflects in the annual Policy Address.

GT: We noticed that the CEPU includes an expert group with many well-known professionals from Hong Kong and the mainland. How does this expert group contribute to the governance of the SAR, and to what extent are their opinions adopted?

Wong: The CEPU has an expert group consisting of 56 members, many of whom are renowned policy researchers. We have four major communication mechanisms with these experts to align with their key research findings.

For example, each member of the expert group is paired with a senior researcher from the policy unit, serving as the expert's personal research liaison, providing timely, appropriate, and targeted communication and assistance, including at least quarterly interactions.

The policy unit also listens to the research outcomes of the experts, enriching the perspectives and content of our own research. We also conduct in-depth group exchanges with expert group members on specific research topics.

Additionally, earlier this year, the SAR government established a 34-member Chief Executive advisory group, including influential figures from Hong Kong, the mainland and other countries and regions. The policy unit plays the role of the secretariat or office for the advisory group, incorporating the thoughts and opinions of the advisors into our research.

Moreover, I have previously served as a Legislative Council member, a National People's Congress deputy, and a member of the National Committee of the Chinese People's Political Consultative Conference, and interacted with influential individuals in the business and industry sectors. Their opinions also form an important basis for our internal research.

To some extent, the policy unit acts as a "think tank of think tanks," absorbing opinions from various sources and transforming them into the governance philosophy of the SAR government.
GT: How frequent do you and your colleagues interact with institutions and enterprises in the mainland?

Wong: Since December 28, 2022, I have been to the mainland nearly 10 times for official purposes. Most of these visits and research objectives were related to the development of the Greater Bay Area, including cities like Shenzhen, Guangzhou, Zhuhai, and Jiangmen, and I also attended the Belt and Road Forum for International Cooperation in Beijing.

Earlier December, I, along with 19 colleagues, went to Beijing to attend a workshop on "enhancing strategic planning and policy research capabilities" held at Peking University. During our stay, Xia Baolong, director of the Hong Kong and Macao Affairs Office of the State Council, met with our delegation. He talked with us for a long time and gave us many important instructions and advice.

In addition, in Beijing, we visited six [central government] ministries and their affiliated research institutions for exchanges, including the National Development and Reform Commission, the Ministry of Foreign Affairs, the Ministry of Culture and Tourism, the Ministry of Science and Technology, the Ministry of Commerce, and the State Administration of Foreign Exchange, to ensure that Hong Kong's policies better align and serve the national development strategy.

I also encourage my colleagues to conduct more researches in the mainland and report back to me, which is very important for our work.

GT: How much attention does the policy unit pay to the national security work of the SAR?

Wong: The policy unit has three deputy heads, and one of whom comes from the Security Bureau [of the SAR government], reflecting the need for Hong Kong to balance "security and development." The Chief Executive is also very concerned about security affairs, so we do a lot of work in this area.

Thus, in the 2023 Policy Address, we mentioned the legislation of Article 23, the establishment of an office to promote Chinese culture under the Leisure and Cultural Services Department, setting up two museums to introduce the country's history and the history of resistance against Japanese aggression, and the implementation of patriotic education in primary and secondary schools and in various sectors of Hong Kong society. All these are important aspects of building a national security system.

China has approved the addition of 24 new majors for undergraduate programs, including national security studies and electronic information materials. Experts said on Tuesday that the adjustment was guided by the goal of supporting the high-quality development of the economy so as to better serve the country's national strategy.

The addition was released by China's Ministry of Education (MOE) on Tuesday, with the ministry saying that the newly approved majors will be open for undergraduate admission in 2024.

According to the MOE, the addition of majors such as national security studies and overseas interests security is based on serving the needs of national strategy, while the establishment of majors such as electronic information materials and intelligent marine equipment aims to cultivate talents in the fields of cutting-edge science and key technologies.

Other important new majors include Chinese classical studies, as well as soccer and sports health preservation, respectively aiming to promote the innovative development of traditional Chinese culture and to help establish China as a leading sporting nation.

The ministry also released the latest version of the undergraduate major catalog for regular higher education institutions, which includes 93 major categories and 816 majors.

The new majors were added in response to overarching development requirements at the national level, spurred by the evolving needs of emerging industries and formats, Xiong Bingqi, director of the 21st Century Education Research Institute, told the Global Times on Tuesday.

The addition also reflected the guidance and support for universities to establish new majors urgently needed for national strategies and regional development, with a focus on serving the high-quality economic and social development, analysts said.

Regarding the major of national security studies, observers pointed out that it aims to cultivate talents with a solid foundation in national security theory and technical skills, as the current international order is undergoing significant changes.

In addition to adjusting the disciplines and majors of universities according to changes in social demand, Xiong said that each college should also set up relevant majors based on its own situation and characteristics to ensure the quality of talent cultivation in their chosen majors.

In 2023, the MOE issued a reform plan for adjusting and optimizing majors in higher education, stating that by 2025, a new range of disciplines and majors that are in line with new technologies and industries will be established, while those that lag behind in economic and social development will be eliminated.

The optimization and adjustment of undergraduate majors is a long-term process, and it is essential to offer effective teaching and training programs to support the development of each student, so that the academic majors offered by universities are aligned with the evolving demands of the job market, Chu Zhaohui, a research fellow at the National Institute of Education Sciences, told the Global Times on Tuesday.

The MOE will persist in advancing the dynamic adjustment of majors, tailored cultivation of national strategic and high-demand talents, so as to bolster the role and impact of education in fostering high-quality development.