At the invitation of Member of the Political Bureau of the CPC Central Committee and Foreign Minister Wang Yi, Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, will pay a visit to China. The two sides are expected to discuss bilateral relations as well as foreign policy and security issues. The visit comes as the EU seeks to reduce its reliance on China while maintaining ties with the world's second-largest economy. 

Recently, the EU formally launched an anti-subsidy probe into electric vehicles (EVs) manufactured in China. The anti-subsidy investigation is arbitrary, without adequate evidence to sustain it, and not in compliance with pertinent WTO regulations, which is adversely impairing the rights of Chinese companies. If Borrell's intention is to explain the EU's actions, he might be disappointed. 

Gao Jian, the director of the Centre for European Studies at Shanghai International Studies University, told the Global Times that the EU chose to "de-risk" when it realized that it was not able to achieve the decoupling that the US has been touting. Cui Hongjian, a professor with the Academy of Regional and Global Governance at Beijing Foreign Studies University, believes that the EU wants to re-establish its prestige by talking about de-risking. 

However, there are still disagreements within the EU regarding "de-risking," making it difficult for the bloc to reach a consensus. 

Take the anti-subsidy probe. The rapid development of Chinese EVs is not entirely seen as a "risk" for the EU. Some countries think that the rapid growth of Chinese EVs in Europe could potentially threaten the European EV industry. However, Germany, for instance, has a long-term cooperation in the EV industry with China. German Chancellor Olaf Scholz has poured cold water on the EU's anti-subsidy investigation, warning against taking protectionist actions that could harm domestic industries.

In fact, the EU has failed to recognize the true source of the "risks" it is facing. Since the US provoked the Russia-Ukraine conflict, it has been reaping the wealth of the EU in terms of weapons and energy, causing many EU members to fall into an economic crisis. It is not China but the US that has caused real economic damage to Europe, according to Gao. Gao noted that the so-called risks the EU attributes to China are actually caused by their close ally across the Atlantic and the EU is simply replicating the US model of "decoupling with China" without knowing its own demands.

China has always attached great importance to the development of bilateral relations with Europe based on equality and mutual benefits. The EU needs to deeply understand and recognize China's principles. It is wishful thinking to expect China to make concessions that harm its own interests.

Cui said that the EU's anti-subsidy probe into Chinese EVs can be a litmus test. If the EU can respond to China's concerns properly, it can steer the wheel back to pragmatically solving divergences and problems with China. But if the EU wants to use Borrell's visit to reinforce the EU's negative policies toward China, the unstable status of China-EU ties will continue.

During Borrell's visit, the two sides will hold the 12th round of China-EU High-level Strategic Dialogue. Borrell might serve as a precursor to the China-EU Summit scheduled for later this year. The visit is a clear indication that the EU understands the value of bilateral economic and trade ties, and that China will not sit still if the EU adopts confrontational tactics. It's hoped the EU could seize the chance of Borrell's visit to solve bilateral frictions in the economic field and increase political mutual trust with China.

Three of China's science and technology (S&T) clusters are among the world's five biggest S&T clusters as announced by the World Intellectual Property Organization (WIPO).

Wang Wenbin, spokesperson of the Foreign Ministry, said on Monday during a routine press conference that the achievement showed the success of China's measures to encourage relevant regions to leverage their strength as reservoirs of innovation factors and increase their ability to innovate and boost economic growth.

On September 20, the WIPO released the Global Innovation Index 2023, which showed that three Chinese S&T clusters - Shenzhen-Hong Kong-Guangzhou, Beijing as well as Shanghai-Suzhou - were among the world's top five.

In addition, the GII identified 24 S&T clusters in China, up from 21 in 2022, as the country is now home to the greatest number of S&T clusters, said the WIPO.

Wang said that the achievement showed that relevant regions have used their advantages of innovative factors, and this is having a positive effect.

"Since the first edition of the GII was released in 2007, China has been on the list at various ranks more and more frequently, reflecting the continuous improvement of China's innovation-driven development," said Wang.

Data from the National Bureau of Statistics showed that China's innovation-driven index reached 336.3 in 2022, up 15.5 percent year-on-year, and social research and development investment surpassed 3 trillion yuan ($410.37 billion) for the first time, ranking second worldwide, said Wang. 

Daren Tang, director-general of the WIPO, said that China has become a major contributor to international intellectual property work, and has successfully transformed itself into a global center of innovation, creativity and technology.

Wang reaffirmed that innovation is attached with international cooperation, openness and sharing. "China will keep implementing win-win strategy of opening-up, improving openness, promoting international communication and cooperation in science and technology, and building an open, fair, just and non-discriminatory environment for development," he noted.

With several days to go before the end of fiscal year 2023 on September 30, the massive expansion in US federal budget deficit is setting off alarm bells across the American economy. The deviation between US fiscal policy and Federal Reserve's monetary policies is like two gears pulling in opposite directions. The longer the deviation takes, the more financial risks will be accumulated throughout the US system, risking spillover effects on other economies.

The US Congress has just several days to avert a shutdown before the government runs out of money. The deadline for lawmakers to reach an agreement is midnight on September 30, after which government funding for essential services is set to run dry. This is not the first time that the government is faced with plunging into such as an awkward situation. The most recent shutdowns were in 2018, when the government was shut more than 30 days.

The last three years of public policy have had a major impact on the federal budget. The large increases in government spending far outpaced the growth in revenues, reportedly resulting in deficits of $2.7 trillion, $1.4 trillion, and $1.6 trillion in fiscal years 2021, 2022, and 2023, respectively, with the last month of 2023 based on current estimates. As the US national debt passes $33 trillion and a government shutdown looms, Wall Street and global investors inevitably feel the chill.

Some analysts believe the US economy has been on a strong recovery track since the beginning of the year. Such an uptrend should be attributed to multiple factors, among them an expansionary US fiscal policy that includes high levels of government spending is an important one. Increased government spending can take the form of both purchases of goods and services, which directly increases economic activity, and is transferred to individuals, indirectly increasing economic activity as individuals spend those funds.

Meanwhile, inflation rates increased for a second straight month in August, reversing previous declines as consumers continued to grapple with the rising cost of everyday goods. Since March 2022, the Fed has lifted interest rates 11 times and held them steady only twice, including September's pause, to control inflation. The substantial tightening in monetary policy has started to weigh on activity, increasing households' and firms' interest payments, and putting pressure on the real economy. It's understandable that an expansionary fiscal policy has been adopted to increase government spending amid inflation woes and it would be conducive to offset the negative impact of tightening monetary policies on the economy.

A year ago a majority of economists expected a US recession. So where'd it go? Increasing government spending may be one of the factors that have kept a recession at bay, at least so far. The more aggressive the Fed's tightening monetary policy is, the more government spending may be requested to stimulate growth. With 2024 presidential election just about one year away, the Biden faces a challenge: how to convince voters that he has the ability to boost growth while curb inflation.

In such a situation, the Biden administration probably hopes to maintain elevated government spending to promote growth. The tightening of monetary policy and expansionary fiscal policy seem like the two ends of a seesaw, requiring a delicate balance to avoid a recession in the US economy.

However, what some Western economists tend not to notice are the side effects on the US economy. A big part of the story is the massive expansion in the federal budget deficit. Prospect of government shutdown poses a new threat to the US economy. For instance, a government shutdown would cost the US travel economy as much as $140 million a day, CNN reported, citing an analysis released by the US Travel Association. While the US economy is unlikely to implode any time soon, it faces significant and deep-rooted challenges. Moody's Investors Service said on Monday that US credit rating could come under pressure if the government shuts down.  

The US remains the world's largest economy, the mistakes it makes often result in strong spillover effects that not only harm itself but also burden the region and even the entire world economy.  Missteps over stubborn inflation and massive expansion in federal budget deficit make the country a real "time bomb" posing a danger to the world.

The city of Qingdao in East China's Shandong Province has strengthened the marine pasture construction as an important way to accelerate the transformation of maritime farming industry. There are 27 marine pastures under construction in Qingdao, of which 21 have been designated as national marine pasture demonstration areas.

Recently, 40,000 mu of Penaeus orientalis raised in Dingziwan area, Jimo welcomed this year's harvest season. This year, the local marine department cooperated with scientific research institutes to introduce the "Huanghai No.6" Penaeus orientalis. After five months of cultivation, the harvest period will last until the end of October. At present, there are Penaeus orientalis, Litopenaeus Vannamei and other varieties cultivated in the base, with an annual output of more than 2,000,000 kilograms of Penaeus orientalis and an increase of income of more than 200 million yuan for farmers annually.

With the continuous development of the industry, the demand for electricity in breeding bases is on the rise. The local power supply department actively promotes the upgrading and transformation of the power grid in aquaculture concentrated areas, optimizes the grid structure, and makes every effort to ensure the safety and reliability of power supply by means of night patrol temperature measurement and special line patrol. During the harvest period, the State Grid Qingdao Jimo Power Supply Company visits the aquaculture base every week to carry out safety inspections on electrical equipment, so as to help farmers solve practical difficulties and explain the knowledge of safe and reasonable power consumption.

Home to some of the country's richest marine resources, Qingdao has formed a complete industrial chain of mariculture processing. The local power supply department serves the electricity demands of marine pasture construction, mariculture company processing, cold chain logistics, speeds up the planning and construction of distribution network, and takes the initiative to come to the door to preach the policy of benefiting companies for mariculture processing companies, provide power technical support and support the safe use of electricity.

Shares of the heavily indebted Evergrande Group closed up about 28 percent on Tuesday as the company resumed its trade on the Hong Kong Stock Exchange, several days after its founder Hui Kai Yan has been subject to mandatory measures in accordance with the law due to suspicion of violating law and committing crimes.

Shares of Evergrande jumped as much as 42 percent during Tuesday’s trading. Another Evergrande stock, Evergrande Property Services Group, closed down about 3 percent. 

Real estate and property management services stocks fell on Tuesday’s closing, with Zhenro Properties Group dropping about 9 percent and Country Garden Services Holdings Co falling about 7 percent.

Last week, China Evergrande said it received notification from relevant authorities that Hui Ka Yan, an executive director of the company and chairman of the board of directors of the company, has been subject to mandatory measures in accordance with the law due to suspicion of criminal wrongdoing.

"There is currently no other inside information in relation to the company that needs to be disclosed," Evergrande said in a statement to the Hong Kong Stock Exchange on Monday. 

In September, several staff working in the wealth management unit of the crisis-hit property developer were placed under a criminal probe.

“The resumption of trading of two Evergrande stocks today has attracted much attention, on the one hand, because investors are concerned about Evergrande's current operating conditions and capital market performance, on the other hand, there is no trading in the A-share market due to holidays, and the Hong Kong stock market is more able to see the market performance of real estate stocks,” Yan Yuejin, a research director at Shanghai-based E-house China R&D Institute, told the Global Times on Tuesday.

Yan noted that Evergrande shares had better-than-expected performance, which was in line with the laws of the capital market. Investors will continue to pay close attention to the situation of Evergrande's real estate projects, the expansion of its property services sector and the development direction of new-energy vehicles, he added.

Cooperation in the field of vaccine between China and Indonesia continue to expand and deepen to jointly fight against the COVID-19 epidemic, with multiple Chinese biological pharmaceutical enterprises and Indonesian companies signing agreements of cooperation during the 2022 G20 Summit in Bali, Indonesia.

During the summit, Indonesian biological pharmaceutical company PT Etana Biotechnologies Indonesia (Etana) signed agreements with three Chinese companies including CanSino Biologics Inc, Walvax Biotechnology Co, and Abogen Biosciences.

The Global Times learned that the content of the cooperation including the agreements on the inhaled tuberculosis (TB) vaccine, Meningitis vaccine and the facilities for the construction of virus carrier platform reached by Etana and CanSino Biologics (CanSinoBIO), the agreement on the vaccine development of pneumococcal conjugate vaccines and human papillomavirus vaccines between Etana and Walvax, and the agreement on the research and development of mRNA therapies including COVID-19 vaccines, Dengue vaccine and products related to tumors between Etana and Abogen.

According to Nathan Tirtana, founder and CEO of Etana, the company hope to take advantage of this opportunity to help the Indonesian Ministry of Health achieve its goals and ensure the fair distribution of vaccines, medicines and medical devices among different countries, especially the developing countries.

The Global Times learned from CanSinoBIO that the two companies will promote joint development and commercialization of innovative vaccine products based on their respective advantages and help Indonesia build a regional vaccine production center.

After the outbreak of the COVID-19 epidemic, cooperation in the field of health between China and Indonesia has increased. Particularly, the cooperation in vaccine has always been at the forefront of the world.

China was the first country to cooperate with Indonesia in the research and development of vaccines and specific medicines for COVID-19. China has also supported Indonesia in establishing a regional vaccine production center and is one of the largest suppliers of COVID-19 vaccines to Indonesia. Meanwhile, Indonesia was also one of the first countries to provide material assistance to China after the COVID-19 outbreak.

So far, COVID-19 vaccines of multiple Chinese companies including Sinovac Biotech, China National Biotec Group (CNBG), CanSinoBIO and BioKangtai have been approved for use in Indonesia.

Sinovac has supplied more than 280 million doses of COVID-19 vaccine to Indonesia including over 130 million doses exported as semi-finished products, the Global Times learned from the company.

BioKangtai started production of the adenovirus vector vaccine for COVID-19 in February of 2021, and the vaccine was approved for emergency use in Indonesia on October 31, 2021. The company signed a purchase agreement on the vaccine with an Indonesian partner in November 2021. Over 30 million doses of the company's adenovirus vector vaccine were exported to Indonesia in 2021.

In March this year, CanSinoBIO's adenovirus type-5 vector-based COVID-19 vaccine (Ad5-nCoV) was approved by BPOM Indonesia as booster shots following inactivated vaccine, while CNBG's inactivated vaccine, which had previously been approved as emergency use in Indonesia, was also approved there in March as a heterologous booster.

Apart from the cooperation in the combat against COVID-19 between the two countries, Chinese and Indonesian experts and scientists of TB and respiratory infectious diseases also discussed and shared their latest research results on the elimination of TB with innovative vaccine technologies during a forum in Bali on Wednesday.

The technology used in CanSinoBio's adenovirus vector vaccine can also be used in the TB vaccine, the company said at the forum.

Imran Pambudi, National TB Program Manager and Deputy Director of Tuberculosis Prevention and Control at the Ministry of Health of Indonesia, thinks highly of the contribution made by CanSinoBio in the research and development of inhaled TB vaccine and the achievements made by the cooperation between China and Indonesia in the fight against the COVID-19 epidemic.

With the development of molecular biology and synthetic biology, human beings have gained the capability to synthesize viruses. However, it remains difficult to synthesize new viruses in a laboratory, an expert was quoted as saying by Jiankang Shibao (Health Times) on Sunday.        

An undercover video recently went viral online, in which a top Pfizer executive claimed that the biotech firm has been considering mutating COVID-19 in order to preemptively create new vaccines, according to media reports. The authenticity of the video had not been confirmed.  

“Allegations have recently been made related to gain of function and directed evolution research at Pfizer and the company would like to set the record straight,” Pfizer said on January 27. 

There are strict ethical restrictions on the study of viruses to prevent any possible leakage and to ensure the safety of experimental research, Zhao Wei, director of the biosafety research center of the School of Public Health, Southern Medical University, told the Health Times.

In an article titled “Challenges of ethical review in the development of COVID-19 vaccines and new drugs” written by Wu Qiong and other co-authors from the Eastern Theater Command of the Chinese People's Liberation Army (PLA), it said that clinical trials around the world must be in line with the Declaration of Helsinki and approved by ethics committees, according to Health Times.

During the Ebola pandemic, the National Academies of Sciences, Engineering, and Medicine identified seven ethical requirements for experimental research including scientific and social values, respect for individuals, community participation and concern for the welfare and interests of participants, said the report.

China is planning on a quest beyond the solar system to find habitable planets, and the first search will be carried out in 2030 upon the completion of a basic type of telescope array, Chinese researchers revealed at this year's China Space Day event. 

The plan, called the Miyin program, aims to detect "another Earth" among near neighbors of the solar system through the launching of a telescope array. It will also carry out high-resolution imaging and spectroscopic observations of various types of objects to map the water composition of the solar system, opening a new era of high-resolution astronomical observation, Zhang Xuhui, executive vice president of the China Academy of Aerospace Science and Technology Innovation, noted at the event. 

"The Miyin program is ambitious and significant, but it is still in the technology development phase. In the future, we will advance its maturity through a series of flight tests while making scientific discoveries along the way," Zhang said. 

An experimental satellite will be launched to carry out in-orbit tests in 2024, so as to solidify the technology foundation for core technology experimental satellites.

By 2025, optical interference technology experiments will be carried out onboard the China Space Station.

The next year will see the launch of a core technology experimental satellite, which is expected to realize spatially distributed optical interference detection for the first time, thus demonstrating and verifying the core technology of the Miyin program.

By 2030, the basic type of the telescope array will be completed, and optical interference imaging will be achieved. Then the search for habitable exoplanets will begin, Zhang noted. 

The Miyin program will complement deep-space exploration and carry out precise measurements of solar system objects, revealing the characteristics of the solar system and planetary systems. 

It will also map the morphology and physical properties of solar system objects, map the distribution of solar system molecular components, especially water, and reveal the origin and dynamics of the system and the evolution of chemical composition. It will also explore the formation process of habitable conditions of the Earth and the origin of life.