AIIB annual meeting participants eye on enhanced cooperation with China

⁠⁠⁠⁠⁠⁠⁠Participants of the ongoing 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB)  expressed their appreciation for the efforts made by the AIIB and China in promoting infrastructure connectivity and sustainable development, looking forward to deeper cooperation with China in the future.

Many noted that China has achieved numerous technological breakthroughs in infrastructure and clean energy in recent years, with advanced technologies in these fields benefiting more countries and regions.

"Within renewable energy, in particular on solar, I think China has built a manufacturing capability at scale and quality which has allowed renewables to be globally cost very competitive. So it played a pivotal role in that supply chain," said Jens Thomassen, Partner at A.P. Moller Capital.

The annual meeting, running from Tuesday to Thursday, has attracted over 3,500 guests from nearly 100 countries and regions for in-depth exchanges.

Meanwhile, the attendees also noted that China's concrete actions have injected more certainty into global economic growth. 

Some emphasized that China's funding and technology are crucial for the development of many countries and regions, and they hope to engage in deeper and more diversified cooperation with China.

"On the issue of AIIB, of course Pakistan has significant portfolio but the needs in the energy sector, the digital infrastructure, the road connectivity are huge. We think that China's role as a partner in development with Pakistan will keep on growing and expanding in future. And we would like to work even more closely with Pakistan (China) on all the international and global economic issues," said Kazim Niaz, Federal Secretary of Pakistan's Ministry of Economic Affairs.

"Chinese research and development in pharmaceutical products can bring significant benefits to the African countries. We bring Chinese capital, we bring Chinese companies into the African markets, into the projects which have tremendous impact, social impact and development impact for the African countries," said Yuri Baidoukov, Group CFO of investment firm Gemcorp Capital.

AIIB annual meeting participants eye on enhanced cooperation with China

China's summer grain procurement season is set to begin later this month, with the expectation of buying about 100 million tons of wheat during the peak period, roughly the same amount as last year, a national food reserves official said on Thursday.

Summer crops account for more than 20 percent of the country's annual grain output, over 90 percent of which is winter wheat. The peak purchasing season runs from late May to the end of September. This year, the summer grain harvest is expected to start about one week later than usual, with early batches already hitting the market in Hubei and Sichuan provinces.

"Preliminary analysis suggests that wheat purchases during the peak season will reach around 100 million tons, which is about 70 percent of total [wheat] output, basically unchanged from last year," said Luo Shouquan, director of the Food Reserves Department at the National Food and Strategic Reserves Administration.

Luo said authorities will step up market analysis and forecasting, and adjust policies as needed. He stressed efforts to facilitate market-oriented purchases, encouraging various buyers to enter the market, and calling on leading state-owned enterprises to take the lead in procurement to boost market confidence.

"A total of 110 million tons of storage capacity has been prepared across the country by far, enough to meet farmers' needs. We will strengthen market monitoring, activate the minimum purchase price mechanism in eligible regions in a timely manner, and coordinate both offline and online channels to ensure orderly purchases and keep the grain market stable," said the official.

China expects some 100 mln tons of wheat in summer procurement