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Brazilian capital celebrates 50 years of diplomatic ties with China

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Brazilian capital celebrates 50 years of diplomatic ties with China

2024-08-19 03:47 Last Updated At:05:17

As China and Brazil celebrate the 50th anniversary of the establishment of their diplomatic relations, a series of cultural and political events took place this week in Brazil's capital, Brasilia, to mark the occasion, where attendees expressed their expectations for closer bilateral relations in both political and cultural terms.

The vibrant colors and movements of Chinese performing arts were on display in Brasilia on Wednesday to mark the anniversary, with about 80 artists from China performing at this cultural event.

"I think the most important thing between these relations, not only commercial relations that we have between Brazil and China, is people-to-people [interaction]. So, of course, it's important to show this relationship not only [in commercial terms], but also [through] cultural relationship between Brazil and China," said Thomas Law, president of the Brazil-China Sociocultural Institute.

During this event, audience members got to see examples of traditional Chinese dances performed by Beijing's Dance Academy, representing six of the 56 ethnic groups officially recognized across China.

Another highlight was a performance by the Zhejiang Wu Opera Company on Friday, entitled "A Stroll Through Tradition: Glimpses of China." The group, which has performed in 51 countries, blends traditional plays, music, acrobatic stunts, martial arts, and the always popular Dragon Dance.

"The dances were like really a cultural expression that I had never [seen] before. It was really an amazing experience, and I hope to be able to see it again one day," said Isabela Christo, a student.

"This is part of a relationship across continents. It's really important. It's a way of fostering knowledge of China here in Brazil and also of Brazil in China," said Adriano Cesar, an audience member.

On the political front, Brazil's Parliament held a solemn session on Thursday on the floor of the Chamber of Deputies, where a commemorative medal produced by the Brazilian mint was unveiled to mark the 50 years of diplomatic relations between the two countries.

In 2018, a law passed in Brazil's Parliament established August 15th as the National Chinese Immigration Day, the day that also celebrates the beginning of diplomatic relations with China in 1974.

The Chinese Ambassador to Brazil spoke about the importance and the prospects of China-Brazil relations.

"Deputies and senators are representatives of the people and this House is holding a great event to celebrate this anniversary. It shows the enthusiasm of the entire Brazilian society for these relations between China and Brazil. Let's make the next 50 years even better," said Zhu Qingqiao, Chinese Ambassador to Brazil.

"We saw here in the National Congress a solemn session of tributes but also with a reaffirmation of common commitments to continue on this path," said Daniel Almeida, a Federal Deputy of Brazil.

Brazil's Parliament also organized an exhibition in its building highlighting important milestone in the 50 years of bilateral relations and served guests slices from a richly-decorated 500-kilogram cake to celebrate this important anniversary.

Brazilian capital celebrates 50 years of diplomatic ties with China

Brazilian capital celebrates 50 years of diplomatic ties with China

China's benchmark Shanghai Composite Index closed almost flat on Monday amid a wide sell-off of artificial intelligence-related stocks triggered by calls from top executives of major U.S. AI developers to slow the pace of AI development, according to Timothy Pope, an analyst for China Global Television Network (CGTN).

The Shanghai Composite Index dropped 0.07 percent to 3,885.33 points on Monday, while the Shenzhen Component Index closed 0.64 percent lower at 13,384.57 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.10 percent to close at 3,285.58 points Monday. The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 0.35 percent lower at 1,811.23 points.

Pope noted that despite the overall resilience of major indexes, AI hardware stocks were among the biggest losers on the day.

"The Chinese mainland markets proved pretty resilient today actually as global AI stocks wobbled. We saw oil prices jump and interest-rate hike bets rising as well. The Shanghai Composite Index ended the session pretty much flat, while the Shenzhen Component [Index] lost a little more than half of 1 percent. AI stocks around the world sank today after the Anthropic CEO Dario Amodei published an essay calling for a slowdown in the development of frontier AI models. That was also backed up by OpenAI boss Sam Altman and some other industry leaders as well. But critically for Chinese companies, Amodei also called for tighter restrictions on exports of advanced AI chips and semiconductor equipment to China. We saw AI shares on the A-share have been caught in a bit of a rotation cycle already lately, with investors switching in and out pretty aggressively from these AI hardware stocks. So that added some extra momentum to today's move out of that sector. They were falling and were one of the weaker sectors today," said Pope.

The analyst said stocks of listed big state-own banks saw an injection of capitals from investors amid AI sell-off.

"Investors took some shelter in financial stocks. The big state-owned banks were once again helping to support the Shanghai index and investors were also waiting for the latest bank-lending data, although that wasn't released before the close of the markets today. There was also a small rebalance in the STAR 50 today. A handful of new companies joined the high-tech index, but that didn't fundamentally change things for the pressured tech sector," he said.

Pope highlighted that Chinese investors will witness a slew of data release in the rest of the week, helping them to have a more comprehensive grasp of the status of the country's domestic demand.

"For the week ahead in China, it's going to be very data-heavy. Tomorrow we have a big data dump including fixed-asset investment, property data, retail sales and industrial production and that's really going to give the market some clues about the state of domestic demand after those very strong trade figures that we saw last week," he said.

Chinese stocks resilient as calls for AI slowdown trigger sell-off: analyst

Chinese stocks resilient as calls for AI slowdown trigger sell-off: analyst

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