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China Demonstrates Expertise in Influencing Global AI Governance

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The World Artificial Intelligence Conference in Shanghai (July 2024) advanced global AI governance, featuring the ‘Shanghai Declaration’ which emphasizes AI safety, ethics, international cooperation, and China’s unique governance approach and initiatives.


World Artificial Intelligence Conference 2024

The World Artificial Intelligence Conference, held in July 2024 in Shanghai, was pivotal in redefining global AI governance. During this gathering, the Shanghai Declaration on Global AI Governance was presented, aimed at advancing principles from China’s Global AI Governance Initiative. This Declaration prioritizes AI safety and ethics, laying out strategies for multilateral cooperation among diverse stakeholders.

China’s commitment to AI governance is further illustrated through its position papers, which delve into specific areas such as ethical governance and military applications of AI. These documents not only present a comprehensive framework for AI regulation but also demonstrate China’s approach to merging broad governance principles with targeted policies. This integration captures both overarching and niche aspects of AI governance, particularly in relation to autonomous weapons.

In the global landscape, China seeks to balance its role as both a rule developer and solution provider in AI governance. By actively engaging in UN-led initiatives and proposing resolutions that enhance international cooperation, China aims to create a cohesive framework. Their Global AI Governance Initiative proposes tailored solutions, including a risk-level testing system and agile governance, underscoring the benefits of AI for societal advancement.

Source : China shows deep learning in shaping global AI governance

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Business

AstraZeneca Stock Declines Amid Reports of Possible Probe Fallout in China – Reuters

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AstraZeneca shares declined following reports of potential repercussions from a probe in China, highlighting concerns over regulatory scrutiny and its impact on the company’s operations and financial performance.


AstraZeneca Under Scrutiny

AstraZeneca faces potential fallout from a reported investigation in China, leading to a noticeable decline in its share price. Investors reacted sharply to the news, reflecting concerns over possible regulatory pressures that could impact the pharmaceutical company’s operations in the region. The drop in shares has prompted analysts to scrutinize the implications of this development for the company’s future prospects.

Market Reactions

The market’s immediate response indicates significant unease among shareholders as they weigh the risks associated with the potential probe. Financial analysts suggest that if the investigation leads to strict regulations or penalties, AstraZeneca could face challenges in maintaining its market position. This uncertainty highlights the fragile nature of investor confidence in the pharmaceutical sector, particularly in international markets like China.

Future Implications

As AstraZeneca navigates this turbulent situation, it remains to be seen how the investigation will unfold and what direct impact it will have on the company’s strategic direction. Keeping a close eye on the developments will be crucial for stakeholders. The pharmaceutical giant’s ability to respond effectively to these challenges will determine its future stability in the competitive global market.

Source : AstraZeneca shares fall on report of potential China probe fallout – Reuters

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China

Strengthening Economic Relations Between China and Singapore: Trade, Investment, and Future Opportunities

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Since 2013, Singapore has been China’s largest foreign investment source and trading partner. Both countries collaborate in the Belt and Road Initiative, with over 8,500 Chinese firms in Singapore. Their trade strengthened under the RCEP Agreement, growing by 4.4% in 2023.


Singapore has been China’s largest source of new foreign investment for 11 consecutive years since 2013. Likewise, China has remained Singapore’s largest trading partner, largest export market, and largest source of imports for 11 years in a row. Companies from both countries have jointly explored opportunities in the Belt and Road Initiative (BRI) markets, achieving positive outcomes in areas such as infrastructure, financial technology, legal services, and third-party market cooperation.

Currently, there are over 8,500 Chinese enterprises registered in Singapore, covering a wide range of industries, including trade, finance, shipping, infrastructure, logistics, and real estate. Singapore serves as a key hub on the Maritime Silk Road and plays an important role in the high-quality development of the BRI.

In this article, we explore the strengthening economic ties between China and Singapore, highlighting potential opportunities in bilateral trade and investment.

China and Singapore are both member countries in the Regional Comprehensive Economic Partnership (RCEP) Agreement. This is a Free Trade Agreement (FTA) between 15 countries and is the largest FTA in the world. Since the RCEP Agreement entered into force in 2022, China and Singapore’s year-on-year bilateral trade has increased by 4.4 percent by the fourth quarter of 2023.

Source: Ministry of Commerce, China

Singapore’s top exports to China are electrical equipment and nuclear machinery, two categories that have consistently been major imports over an extended period.


This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in ChinaHong KongVietnamSingapore, and India . Readers may write to info@dezshira.com for more support.

Read the rest of the original article.

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International Aquarium Conference Shifts from Mexico to China: A Global Focus

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Wuhan’s HHAn Polar Ocean Park successfully received the IAC flag, marking the 2027 event countdown. The city aims to promote aquatic research and biodiversity conservation through an upcoming science education museum.


Success of the Flag Handover Ceremony

The International Aquarium Congress (IAC) celebrated a significant milestone on November 1, 2024, in Guadalajara, Mexico, with the flag handover ceremony for the upcoming 13th IAC in 2027. This event, often dubbed the "Olympics of the Aquarium Industry," marks the return of the IAC to China for the first time since 2008. HHAn-Wuhan Polar Ocean Park received the flag, highlighting Wuhan’s prominence in aquatic research and conservation.

Wuhan: A Hub for Aquatic Research

Wuhan stands out as a leading center for aquatic organism research, housing the largest cluster of related institutions in China and globally. Its selection as the first inland city to host the IAC emphasizes its rich scientific heritage and commitment to environmental sustainability. The city’s advanced research capabilities and dedication to biodiversity make it an ideal venue for such a prestigious event.

Commitment to Environmental Education

Tan Wencheng, General Manager of HHAn-Wuhan Polar Ocean Park, expressed the park’s dedication to supporting Wuhan’s growth over the past 13 years. As a key urban tourism landmark, the park plans to construct a 2,000-square-meter science education museum focusing on Yangtze River aquatic organisms and ecological protection. This initiative aims to foster public understanding and appreciation for aquatic biodiversity and drive conservation efforts in the region.

Source : Global Spotlight on International Aquarium Conference as It Moves from Mexico to China

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